3CApplication of Act to corporate collective investment vehicles

#### 3C Application of Act to corporate collective investment vehicles 3C Application of Act to corporate collective investment vehicles > > (1) For this Act, each sub-fund of a CCIV is taken to be a unit trust of which— > > > > > (a) the CCIV is the trustee, and > > > > > (b) the business, assets and liabilities of the sub-fund are the trust property, and > > > > > (c) the members of the sub-fund are the beneficiaries. > > > (2) For a sub-fund that is taken to be a unit trust— > > > > > (a) a share in the CCIV that is referable to the sub-fund is taken to be a unit in the unit trust, and > > > > > (b) a shareholder of the share, as a member of the sub-fund, is taken to be a unit holder of the unit in the unit trust, and > > > > > (c) the rights, entitlements, obligations and other characteristics attaching to the share are taken, as far as practicable, to be the same rights, entitlements, obligations and other characteristics attaching to the unit. > > > (3) For this Act, a CCIV is taken to be a separate person in relation to each unit trust of which it is the trustee under subsection (1). > > > (4) This Act does not apply to a CCIV or the members of a sub-fund of a CCIV except as provided for by this section. > > > (5) Despite another provision of this Act, a sub-fund of a CCIV, taken to be a unit trust under this section, is taken to be a special trust. > > **s 3C:** Ins 2024 No 90, Sch 4\[2\].