Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A sub - fund of a CCIV is all or part of the business of the CCIV that is registered as a sub - fund under section 1222S.
Note: A sub - fund of a CCIV may be registered as a passport fund: see Part 8A.3.
(2) A sub - fund does not have legal personality.
(3) A person is a member of a sub - fund of a CCIV if the person:
(a) is a member of the CCIV; and
(b) holds one or more shares that are referable to the sub - fund.
Note: For when a share is referable to a sub - fund, see section 1230.