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Registered scheme
Practical Law ANZ Glossary w-006-4719 (Approx. 3 pages)
Glossary
Registered scheme
A managed investment scheme that is registered with ASIC under section 601EB of the Corporations Act 2001 (Cth) (CA 2001). The CA 2001 generally requires a managed investment scheme to be registered if any of the following applies:
- It has more than 20 members.
- It has been promoted by a person (an associate of a person) who is in the business of promoting managed investment schemes.
- ASIC has made a determination that the managed investment scheme is one of a number of managed investment schemes that are closely related and these managed investment schemes together have more than 20 members.
However, a managed investment scheme that meets one of these criteria may not need to be registered if the issue of all of the interests in the scheme did not require the scheme's responsible entity to give a disclosure document.
A registered scheme is operated by the scheme's responsible entity and has similar financial and reporting requirements to a public company.