Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:2:p10
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 2 (pt 10/26)
Character Range: 1557938–1560573

function of holding the money and property of the CCIV; and
 (b) the corporate director monitors the person's compliance with the minimum standards during that period; and
 (c) the corporate director undertakes a review of the person's compliance with the minimum standards every 13 months starting on the day the person is engaged to perform the function of holding the money and property of the CCIV; and
 (d) the corporate director makes available to ASIC, on request, the outcomes of the review.
 (2) For the purposes of subregulation (1), the minimum standards for holding the money and property of a CCIV are met for a person and a period if:
 (a) during the period, the person has adequate capacity and resources to hold the money and property of the CCIV; and
 (b) in the case that the person performs other functions for the CCIV at any time during the period—the person has in place, at that time, adequate arrangements for the management of conflicts of interest that may arise wholly, or partially, in relation to activities undertaken by the person in performing the other functions.

8B.5.15  Holding money and property of a CCIV on trust—exception
 (1) For the purposes of subsection 1234K(1) of the Act, subsection 1234H(1) of the Act does not apply to the class of assets that is the money or property of a CCIV that is held outside of Australia in another jurisdiction in the circumstance mentioned in subregulation (2)
 (2) For the purposes of subregulation (1), the circumstance is that:
 (a) it is not reasonable for the money or property of the CCIV to be held on trust under the laws in force in the other jurisdiction; and
 (b) there are adequate safeguards in place for protecting the money or property of the CCIV, including if the person holding the money or property of the CCIV becomes insolvent.

8B.5.20  Holding money and property of a CCIV separately—exception and other requirements for certain classes of assets
 (1) For the purposes of subsections 1234K(1) and (2) of the Act, subsections 1234J(1) to (3) of the Act do not apply in relation to the class of assets of a sub‑fund of a CCIV that consists of assets that:
 (a) are of any of the following kinds (the prescribed assets):
 (i) Australian or foreign currency;
 (ii) rights to Australian or foreign currency that is held in a deposit‑taking facility made available by an ADI (within the meaning of the Banking Act 1959);
 (iii) rights to Australian or foreign currency that is held in a deposit‑taking facility made available by a body corporate that is authorised to carry on a banking business (within the meaning of that Act) in a foreign