113ACommon Fund No. 3

113A Common Fund No. 3 (1) In this section, ***prescribed financial market*** has the same meaning as in section 9 of the Corporations Act. (2) There is established a Common Fund to be known as Common Fund No. 3. (3) On the commencement of section 4 of the **Courts Legislation (Funds in Court) Act 2004**— (a) the interest of any person, estate or trust in a security listed on a prescribed financial market and held by the Senior Master on separate account under section 113(6) immediately before that commencement is cancelled; (b) all securities of a kind referred to in paragraph (a) are transferred to Common Fund No. 3; (c) in consideration of, and as compensation for, the cancellation of any interest of a person, estate or trust in a security by force of paragraph (a), that person, estate or trust is given all the rights of a person, estate or trust with money invested in Common Fund No. 3 as set out in section 113. (4) No duty or other tax is chargeable under any Act in respect of anything effected by or done under this section or in respect of any act or transaction connected with or necessary to be done by reason of this section, including a transaction entered into or an instrument made, executed, lodged or given, for the purpose of, or connected with the transfer of securities made by this section. (5) Money held in Common Fund No. 3 may only be invested in securities listed on a prescribed financial market or in cash securities, deposits or discount bills-of-exchange or in another type of security determined by the Senior Master. (6) The monetary value at any time of a security listed on a prescribed financial market and held by the Senior Master in Common Fund No. 3 is the value last published by that market with respect to that security. (7) Any capital profit or loss incurred on the realisation of an asset in Common Fund No. 3 must be credited or debited (as the case requires) to that Fund and apportioned between the accounts of each person, estate or trust with money invested in the Fund at that time proportionately to the extent of that investment. (8) Income arising from Common Fund No. 3 must be apportioned between the accounts of each person, estate or trust with money invested in the Fund at that time proportionately to the extent of that investment. S. 113B inserted by No. 30/2004 s. 4.