Document ID: chunk:federal_register_of_legislation:C2025C00185:section:601sca
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 601SCA
Character Range: 2359188–2360100

601SCA  Common funds of licensed trustee companies
 (1) A licensed trustee company may, for the purposes of investment, pool together into a fund or funds money (estate money) from 2 or more estates that are administered or managed by the trustee company in the performance of estate management functions.
 (2) For the purposes of this Chapter, a fund into which money is pooled as mentioned in subsection (1) is a common fund.
Note: A common fund may also be regulated under Chapter 5C (if the fund constitutes a managed investment scheme) but see also section 601SCAA, which deals with any inconsistencies in regulation between the Chapters.
 (3) A common fund may also include other money.
 (4) This section has effect subject to regulations made for the purpose of section 601SCC.
Note: For example, the regulations may limit the circumstances in which other money may be pooled together with estate money.