Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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).