Document ID: chunk:federal_register_of_legislation:F2022C01195:body:0:p3
Version: federal_register_of_legislation:F2022C01195
Segment Type: other
Provision Reference: 
Character Range: 5530–8308

may be made before a sub-fund of the retail CCIV has a status of being an Australian passport fund but only have operative effect while the Passport Rules for this jurisdiction apply in relation to the fund.
Other scenarios
             (2C) Despite subsection (2), the constitution of the retail CCIV may be modified, or repealed and replaced with a new constitution, by the corporate director if at least one of the following is satisfied at the time of the modification, or repeal and replacement:
                  (a) a meeting of members is unable to be held because the quorum requirement in either subsection 252R(2) or the retail CCIV's constitution is not capable of being satisfied because the retail CCIV has an insufficient number of members;
                  Note:  Section 252R applies in relation to a CCIV and its members subject to the modifications in Subdivision B of Division 6 of Part 8B.3.
                  (b)              every member of the retail CCIV is not entitled to vote at a meeting of members because of section 253E;

                 Note:  Section 253E applies in relation to a CCIV subject to the modifications in Subdivision B of Division 6 of Part 8B.3.
                 (c) all shares in the retail CCIV were issued in situations that did not require the retail CCIV to give a Product Disclosure Statement.
              (2D) The corporate director may only make the modification, or repeal and replacement, under subsection (2C) if, before the modification, or repeal and replacement, both of the following are satisfied:
                  (a) the corporate director has provided to each member of the retail CCIV, the auditor of the retail CCIV and the auditor of the retail CCIV's compliance plan, all the information that the corporate director reasonably expects to be material to the decision of a member whether to consent to the modification, or repeal and replacement;
                  (b) after the information in paragraph (a) has been provided, every member of the retail CCIV has given their written consent to the modification or repeal and replacement.".

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration      Date of commencement  Application, saving or transitional provisions
2019/700           12/09/2019 (see F2019L01185)  13/09/2019
2022/0940          14/11/2022 (see F2022L01459)  15/11/2022            -

Endnote 2—Amendment history
ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted
Provision affected    How affected
Section 1             am. 2022/0940
Section 2             rep. s48D LA
Section 3             am. 2022/0940
Section 5 (heading)   rs. 2022/0940
Section 6             ad.  2022/0940