157ACWholesale unit trust schemes

#### 157AC Wholesale unit trust schemes 157AC Wholesale unit trust schemes > > (1) A unit trust scheme is a wholesale unit trust scheme if— > > > > > (a) the scheme was not established for a particular investor, and > > > > > (b) not less than 80% of the units in the scheme are held by qualified investors, and > > > > > (c) no qualified investor, either alone or together with associated persons, holds 50% or more of the units in the scheme, and > > > > > (d) the scheme satisfies additional requirements that are specified by the Chief Commissioner under this section. > > > (2) The Chief Commissioner may specify additional requirements by order published in the Gazette. > > > (3) The [Interpretation Act 1987](/view/html/inforce/current/act-1987-015), sections 40 and 41 apply to the order as if it were a statutory rule. > > **s 157AC:** Ins 2023 No 26, Sch 1\[8\].