Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p15
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 15/148)
Character Range: 365379–368042

be made at intervals not exceeding 6 months.

Investments
 (7) A licensed trustee company commits an offence if:
 (a) the trustee company invests money committed to its administration or management; and
 (b) the investment is:
 (i) not in accordance with a decision of the Board made for the purpose of regulation 5D.2.05; and
 (ii) not made in a manner in which trust funds may be invested by a trustee under the relevant State or Territory provisions set out in Schedule 8AE.
Penalty: 500 penalty units.

Valuation of investments
 (8) A licensed trustee company commits an offence if it does not comply with the following requirements about the valuation of investments of common funds:
 (a) by the third business day of each month, the trustee company must decide the value of the investments in each common fund as at the first business day of the month;
 (b) subject to subregulation (9), in deciding the value of securities listed on a financial market for a month, the trustee company must take the last sale price of the first business day of the month published by the market operator as the value of the listed securities;
 (c) the trustee company must make withdrawals from the common fund and further investments on the basis of the last valuation of investments made by the company.
Penalty: 500 penalty units.
 (9) The requirement in paragraph 8(b) does not apply if, in a particular month, the licensed trustee company decides it is in the best interests of each account in the common fund that a sale price used for the valuation be one taken later in that month.

Realising investments
 (10) A licensed trustee company may sell investments belonging to a common fund.
 (11) A licensed trustee company that has realised an investment in a common fund commits an offence if it does not credit or debit a profit or loss from the investment to the unit holders of the common fund:
 (a) in proportion to the amount invested in the common fund by the unit holders at the time of the realisation; and
 (b) within 14 days of the realisation.
Penalty: 500 penalty units.

Offence for involvement in contravention
 (12) A person commits an offence if the person is involved in a contravention of subregulation (3), (4), (5), (7), (8) or (11) by a licensed trustee company.
Penalty:
 (a) for an individual—50 penalty units; and
 (b) for a body corporate—500 penalty units.

5D.2.07  Register of investments
 (1) A licensed trustee company commits an offence if it does not maintain a register of investments for each common fund in accordance with subregulation (2).
Penalty: 500 penalty units.
 (2) The register must contain:
 (a) a record identifying each