Document ID: chunk:federal_register_of_legislation:C2025C00185:section:601fg
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 601FG
Character Range: 2275422–2276346

601FG  Acquisition of interest in scheme by responsible entity
 (1) The responsible entity of a registered scheme may acquire and hold an interest in the scheme, but it must only do so:
 (a) for not less than the consideration that would be payable if the interest were acquired by another person; and
 (b) subject to terms and conditions that would not disadvantage other members.
Note: If the responsible entity holds an interest in the scheme, it does so subject to section 253E (certain members cannot vote or be counted).
 (2) A responsible entity who contravenes subsection (1), and any person who is involved in a responsible entity's contravention of that subsection, contravenes this subsection.
Note 1: Section 79 defines involved.
Note 2: Subsection (2) is a civil penalty provision (see section 1317E).
 (3) A person must not intentionally be involved in a responsible entity's contravention of subsection (1).