Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 601SCA

             (1)  A licensed trustee company may, for the purposes of investment, pool together into a fund or funds money ( estate money ) from 2 or more estates that are administered or managed by the trustee company in the performance of estate management functions.

             (2)  A fund into which money is pooled as mentioned in subsection (1) is a common fund .

Note:          A common fund may also be regulated under Chapter 5C (if the fund constitutes a managed investment scheme) but see also section 601SCAA, which deals with any inconsistencies in regulation between the Chapters.

             (3)  A common fund may also include other money.

             (4)  This section has effect subject to regulations made for the purpose of section 601SCC.

Note:          For example, the regulations may limit the circumstances in which other money may be pooled together with estate money.