On 13 June the Government released for public consultation the first tranche of the Treasury Laws Amendment (Corporate Coll ective Investment Vehicle) Bill 2018 and Explanatory Materials. 

The Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer, stated the Corporate Collective Investment Vehicle (CCIV) will allow Australian fund managers to market to participating Asian financial markets using a well-recognised corporate structure vehicle, complements the Asia Region Funds Passport initiative which the Government introduced into Parliament earlier this year. 

The Minister also stated that the second tranche of consultations will cover the remaining substantive aspects of the regulatory framework for CCIVs, including external administration, consequential amendments to apply the Chapter 7 financial services regime to CCIVs, and penalty provisions. 

Submissions are due by 11 July.