Another piece in the CCIV puzzle
Public consultation on the third tranche of the Federal Government's regulatory framework for Corporate Collective Investment Vehicles (CCIVs) closed on 26 October 2018.
The CCIV is designed to be an internationally recognisable investment vehicle which can be readily marketed to foreign investors. In the August 2018 edition of Fundamental, associate Elliott Stumm discussed the second tranche of the regulatory framework and also provided an overview of the first tranche in the December 2017 edition of Fundamental, including our submission to Treasury.
The third tranche covers the independence requirement for the depositary of a CCIV, external administration arrangements, deregistration of sub-funds and CCIVs, takeovers, compulsory acquisitions and buy-outs, and disclosure requirements and other consequential amendments to accommodate the new CCIV regime.
In light of the Banking Royal Commission and a potential change of government next year, we'll wait and see what happens with this regime and its anticipated roll out.