Document ID: chunk:federal_register_of_legislation:F2023C01164:body:0:p18
Version: federal_register_of_legislation:F2023C01164
Segment Type: other
Provision Reference: 
Character Range: 43793–46771

minimum holding requirement or the realisation of which might otherwise adversely affect members other than the requesting member.
The right to withdraw, and any provisions in the constitution setting out procedures for making and dealing with withdrawal requests, must be fair to all members."; and
(b) omit section 601KA, substitute:

"601KA Members' rights to withdraw
           The responsible entity must not allow a member to withdraw from the scheme otherwise than in accordance with the scheme's constitution or the conditions of an exemption under this Act."; and
(c) omit sections 601KB to 601KE.

10 Offer of securities through an IDPS-like scheme
Chapter 6D of the Act applies to all persons as if Part 6D.2 were modified or varied by, after section 704, inserting:

"704B Offers through an IDPS-like scheme
(1) A person who makes an offer of accessible securities through an IDPS-like scheme that needs disclosure under this Part must promptly notify the responsible entity if:
(a) a supplementary or replacement document has been lodged in relation to the disclosure document; or
(b) the person is prohibited under Division 1 of Part 6D.3 from making offers of securities under the disclosure document; or
(c) the disclosure document is withdrawn before the expiry date specified in the disclosure document.
(2) Nothing in this Part or Part 6D.3 requires a disclosure document for offers of accessible securities through an IDPS-like scheme to include information about the scheme or the rights attached to the accessible securities where they differ from the rights that a person would have if they acquired the accessible securities directly.
(3) In this section:
accessible securities and IDPS-like scheme have the same meanings as in subsection 1013DAB(19).".

11 Simple managed investment schemes
Part 7.9 of the Act applies in relation to a responsible entity of a simple managed investment scheme as if regulation 7.9.11S of the Corporations Regulations 2001 were modified or varied by, in subregulation (4), omitting "managed investment scheme that has a constitution" and substituting "managed investment scheme where, or has a constitution".

Part 4—Repeal

12 Repeal
This instrument is repealed at the start of 1 October 2028.

Endnotes

Endnote 1—About the endnotes
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws