Document ID: chunk:federal_register_of_legislation:F2021C01043:body:0:p7
Version: federal_register_of_legislation:F2021C01043
Segment Type: other
Provision Reference: 
Character Range: 16034–18904

makes readily publicly accessible the identification statement, as accepted for the purposes of this instrument by ASIC or a sponsor, for 5 years after the last time when the charitable investment fundraiser relied or purported to rely on the acceptance for the purposes of this instrument of that identification statement.
(4) The charitable investment fundraiser must take all reasonable steps to ensure that the information in the identification statement is up to date, complete and not misleading at all times.
           Note: This may require the charitable investment fundraiser to give to ASIC or the sponsor (as relevant) an identification statement that replaces the original identification statement.
    Restriction on allowing short term repayment

       (5) The charitable investment fundraiser must ensure that:
(a) on and after 1 January 2017, it does not issue a short-term investment product to any person as a retail, non-associated client; and
(b) on and after 1 January 2018, no person holds a short-term investment product:
(i) that is issued by the fundraiser; and
(ii) if it were issued to the holder on or after that date, it would be issued to the holder as a retail, non-associated client.
       Paragraph (b) applies to short-term investment products issued before and after the commencement of this subsection.

       (6) If the charitable investment fundraiser is a retail charitable investment fundraiser, it must ensure that all debentures and interests in a managed investment scheme that it has issued are held on terms that they may only be repaid or redeemed:
           (a) if the charitable investment fundraiser has reasonable grounds to believe that if:
(i) all repayments and redemptions that it may be required to pay on that day were made; and
(ii) all repayments and redemptions that may reasonably be expected to be due on each future day were made on that future day;
           all holders of debentures and interests would be repaid or redeemed on that day and on each future day in accordance with holders' entitlements; or
           (b) in the case of a holder of a debenture or an interest that is an individual—if the charitable investment fundraiser is satisfied that  the repayment or redemption would alleviate financial hardship that the holder is suffering or would suffer; or
           (c) on a winding up of:
(i) in the case of a debenture—the charitable investment fundraiser; and
(ii) in the case of an interest—the managed investment scheme.

       (7) The charitable investment fundraiser must only repay or redeem a debenture or interest in accordance with paragraphs (6)(a) to (c).

    Restriction on payment facilities
(8) The charitable investment fundraiser must ensure that an entitlement of a person as a retail, non-associated client to be paid or repaid an amount in relation to a debenture