Document ID: chunk:federal_register_of_legislation:F2022C01200:body:0:p4
Version: federal_register_of_legislation:F2022C01200
Segment Type: other
Provision Reference: 
Character Range: 8033–10829

(a) the redemption of interests in a registered scheme and reinvestment of the proceeds in interests in another registered scheme; or

       (b) the redemption of interests in a notified foreign passport fund and reinvestment of the proceeds in interests in another notified foreign passport fund; or

       (c) the redemption of shares in a CCIV that are referable to a sub-fund of the CCIV and the reinvestment of the proceeds in shares in another sub-fund of the CCIV.
voluntary switch arrangement means:
(a) a written arrangement between the responsible entity of a registered scheme and a member that sets out the circumstances in which an application (switch application) by the member to switch from an interest in the scheme to an interest in another registered scheme operated by the responsible entity or a related body corporate may be accepted; or
(b) a written arrangement between the operator of a notified foreign passport fund and a member that sets out the circumstances in which an application (switch application) by the member to switch from an interest in the fund to an interest in another notified foreign passport fund operated by the operator or a related body corporate may be accepted; or
(c)  a written arrangement between the CCIV and a member of a sub-fund of the CCIV that sets out the circumstances in which an application (switch application) by the member to switch from shares in the sub-fund of the CCIV to shares in another sub-fund of the CCIV may be accepted.

Part 2—Exemption

5 Applications to switch between schemes operated by the same responsible entity or its related bodies corporate
Exemption
(1) A responsible entity of a registered scheme does not have to comply with section 1016A of the Act in relation to the issue of an interest (new interest) in the scheme that is made in accordance with a voluntary switch arrangement or a member approved switch arrangement.
Where exemption is available
(2) The exemption in subsection (1) is available to a responsible entity where the responsible entity has taken reasonable steps to ensure that:
           (a) in the case of a voluntary switch arrangement—before the time (relevant time) of the switch application in relation to the new interest; and
           (b) in the case of an member approved switch arrangement—before the time (relevant time) of the vote on the resolution to approve the arrangement;
it gave, or made available by a nominated electronic means, to the member:

           (c) a Product Disclosure Statement (Statement) or Short-Form PDS (Statement) for the new interest that was not defective at the relevant time; and
              Note:   The information contained in a Statement includes any information contained in a Supplementary Statement given at the same time as