59. Managing a Collective Investment Fund

(1) Managing a Collective Investment Fund is a specified kind of activity.
(2) A person manages a Collective Investment Fund when the person —
(a) is legally accountable to the Unitholders in the Collective Investment Fund for the management of the property held for or within a Collective Investment Fund under the Collective Investment Fund's Constitution; or
(b) establishes, manages or otherwise operates or winds up a Collective Investment Fund.
Amended on (19 June, 2017).