Section 601FG — Corporations Act 2001: Acquisition of interest in scheme by responsible entity

(1) The responsible entity of a registered scheme may acquire and hold an interest in the scheme, but it must only do so: (a) for not less than the consideration that would be payable if the interest were acquired by another person; and (b) subject to terms and conditions that would not disadvantage other members. Note: If the responsible entity holds an interest in the scheme, it does so subject to section 253E (certain members cannot vote or be counted). (2) A responsible entity who contravenes subsection (1), and any person who is involved in a responsible entity’s contravention of that subsection, contravenes this subsection. Note 1: Section 79 defines involved. Note 2: Subsection (2) is a civil penalty provision (see section 1317E). (3) A person must not intentionally be involved in a responsible entity’s contravention of subsection (1).