Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1043l:p4
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1043L (pt 4/4)
Character Range: 727915–729728

scheme; or
 (b) ASIC in the name of, and for the benefit of, the responsible entity for a registered scheme;
brings an action in accordance with subsection (2) in respect of a subscription for, or any agreement to subscribe for, any interests in the scheme, any amount recovered in the action:
 (c) is to be held by the responsible entity on behalf of the persons who, at the time of the subscription or agreement, had rights or interests in the relevant financial or business undertaking or scheme, common enterprise, investment contract or time‑sharing scheme; and
 (d) is to be held on their behalf in the respective proportions that, at that time, their individual rights or interests bore to the total of all those rights or interests.

Special provision for registered schemes—treatment of amount recovered in respect of subsection (5) loss

 (9) If:
 (a) the responsible entity for a registered scheme; or
 (b) ASIC in the name of, and for the benefit of, the responsible entity for a registered scheme;
brings an action in accordance with subsection (5) in respect of an acquisition or disposal of, or an agreement to acquire or dispose of, interests in the scheme, any amount recovered in the action:
 (c) is to be held by the responsible entity on behalf of the persons who, at the time of the disposal, acquisition or agreement, had rights or interests in the relevant financial or business undertaking or scheme, common enterprise, investment contract or time‑sharing scheme; and
 (d) is to be held on their behalf in the respective proportions that, at that time, their individual rights or interests bore to the total of all those rights or interests.

 (10) Any right of action that a person has by virtue of this section is in addition to any right that any other person has under section 1317HA.