ASIC Corporations (Registered Schemes and CCIVs—Differential Fees) Instrument 2017/40 (Cth)

ASIC Corporations (Registered Schemes and CCIVs—Differential Fees) Instrument 2017/40

About this compilation

Compilation No. 1

This is a compilation of ASIC Corporations (Registered Schemes and CCIVs—Differential Fees) Instrument 2017/40 as in force on 15 November 2022. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary 1 Name of legislative instrument 3 Authority 4 Definitions Part 2—Exemption 5 Registered schemes - differential fees 6 Conditions 7 CCIVs – differential fees 8 Conditions Endnotes Endnote 1—Instrument history Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Registered Schemes and CCIVs—Differential Fees) Instrument 2017/40.

3 Authority This instrument is made under subsections 601QA(1) and 1243(2) of the Corporations Act 2001.

4 Definitions In this instrument: Act means the Corporations Act 2001. associated person, in relation to a member, means: (a) a spouse, parent, child, brother or sister of the member; or (b) a company which has no member other than the member or a person mentioned in paragraph (a); or (c) a regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993 which has no member other than the member or a person mentioned in paragraph (a); or (d) a trust which has no beneficiary other than the member or a person mentioned in paragraph (a) or (b); or (e) an entity controlled by the member or a person mentioned in paragraph (a) or (b), and includes an entity jointly controlled by the member and a person mentioned in paragraph (a) or (b). differential fee arrangement: (a) in relation to a registered scheme, means an arrangement for the charging, rebating or waiving of fees, including entry, exit and periodic fees, by the responsible entity to members of the scheme on a basis that differs from that applying to other members who hold interests of the same class; and (b) in relation to a CCIV, means an arrangement for the charging, rebating or waiving of fees, including entry, exit and periodic fees, by the corporate director of the CCIV or the CCIV, as the case may be, to members of a sub-fund of the CCIV on a basis that differs from that applying to other members of the sub-fund who hold shares of the same class referable to that sub-fund. employee member: (a) in relation to a scheme, means a member of the scheme who is also an employee of the responsible entity of the scheme or a related body corporate; and (b) in relation to a CCIV, means a member of the CCIV who is also an employee of: (i) the corporate director of the CCIV; or (ii) a related body corporate of the corporate director. wholesale client has the meaning given by section 761G of the Act.