A corporate collective investment vehicle (CCIV) is a new type of company limited by shares that can be registered by ASIC from 1 July 2022.
A CCIV is a separate legal entity. It must have at least one sub-fund. A CCIV and its sub-funds must be registered.
A CCIV must have a corporate director. A corporate director must be a public company and must hold an Australian financial services licence (AFSL) that authorises it to operate the business and conduct the affairs of a CCIV. For a retail CCIV, at least half of the individual directors of its corporate director must be external directors.
CCIVs are designed to increase the international competitiveness of Australia’s managed funds industry.
ASIC has published Information Sheet 272 How to register a corporate collective investment vehicle and sub-fund (INFO 272). INFO 272 provides guidance on:
- CCIV and initial sub-fund registration requirements
- the application process, including how ASIC will assess applications for CCIVs and initial sub-funds
- CCIV Constitution and compliance plan requirements
- the application process for registering further sub-funds.
Other ASIC Guidance can be found here.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
