Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1223h
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1223H
Character Range: 43051–43985

1223H  Retail CCIV—Additional content requirement for redemption of shares
 (1) This section applies if all or some of the shares in a retail CCIV are redeemable shares or redeemable preference shares.
 (2) The CCIV's constitution must make provision for the shares to be redeemed. The provision must:
 (a) specify a period within which a redemption must ordinarily be satisfied while section 1230H (about when a sub‑fund is liquid) applies to the sub‑fund to which the share is referable; and
 (b) be fair and reasonable to the members of the sub‑fund to which the share is referable; and
 (c) set out a price, or a method for determining a price, at which shares in the CCIV are to be redeemed if, at the time of the redemption, section 1230H (about when a sub‑fund is liquid) applies to the sub‑fund to which the shares are referable.

Division 2—Officers and employees of the CCIV

Subdivision A—Officers and employees generally