Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:2:p6
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 2 (pt 6/26)
Character Range: 1548305–1550945

a notified foreign passport fund under Division 2 of Part 8A.7 of the Act.
 (2) In this regulation, the transition period for a fund that has been removed as a notified foreign passport fund is the period:
 (a) beginning on the day on which the fund is removed as a notified foreign passport fund (see subsection 1216J(3)); and
 (b) ending on the last day on which there are any protected members of the fund.
 (3) A person is a protected member of a fund that has been removed as a notified foreign passport fund if the person became a member of the fund (whether in this jurisdiction or any other participating economy for the fund):
 (a) after the fund became a notified foreign passport fund; or
 (b) on the expectation that the fund would become a notified foreign passport fund.
 (4) For the purposes of the definition of protected member in subregulation (3), ignore any member of the fund that:
 (a) is, or has at any time been, the operator of the fund; or
 (b) is a related party of an entity that is, or has at any time been, the operator of the fund.
 (5) If a fund has been removed as a notified foreign passport fund, a reference to the operator in relation to the fund in:
 (a) this regulation; or
 (b) any provision of the Corporations legislation the application of which is continued under subregulation (1);
is a reference to the operator of the regulated CIS that constitutes the fund or, if the fund has ceased to be a regulated CIS, the entity or entities that control the fund.

Chapter 8B—Corporate collective investment vehicles

Part 8B.4—Corporate finance and financial reporting for CCIVs

Division 1—Shares

8B.4.10  Cross investment between sub‑funds of a CCIV—restriction for circular cross‑investment
  For the purposes of subsection 1230R(1) of the Act, a CCIV must not acquire, in respect of a sub‑fund of the CCIV (the acquiring sub‑fund), one or more shares referable to another sub‑fund of the CCIV (the issuing sub‑fund) if, at the time of the proposed acquisition, the assets of the issuing sub‑fund:
 (a) directly include; or
 (b) indirectly include, through one or more interposed sub‑funds of the CCIV;
one or more shares referable to the acquiring sub‑fund.
Note: Paragraph (b) applies if, for example, at the time of the proposed acquisition:
(a) the assets of the issuing sub‑fund include shares referable to sub‑fund C of the CCIV; and
(b) the assets of sub‑fund C include shares referable to sub‑fund D of the CCIV; and
(c) the assets of sub‑fund D include shares referable to the acquiring sub‑fund.
In this example, sub‑funds C and D are each interposed sub‑funds.

8B.4.15  Cross investment