Clause 86
Repeal and re-enactment of section 284B
of Securities and Futures (Amendment No. 2) Bill
BillNot in forceProvision 86 of 113
Clause 86
Section 284B of the principal Act is repealed and the following section substituted therefor:“Division not to apply to certain collective investment schemes which are business trusts284B. This Division does not apply to an offer of units in a collective investment scheme, where —
(a)
the collective investment scheme is also a registered business trust; or
(b)
the collective investment scheme is also a business trust and the offer is made in reliance on an exemption under Subdivision (3) of Division 1A.”.