Supreme Court in Victoria strikes down unilateral amendments to scheme constitution by the responsible entity Section 601GC(1)(b) of the Corporations Act 2001 (Cth) allows the responsible entity of a managed investment scheme to amend the constitution of the scheme without unitholder approval if the responsible entity reasonably considers that the changes will not adversely affect unitholders’ rights. The recent decision in Watts v … Continue reading Supreme Court in Victoria strikes down unilateral amendments to scheme constitution by the responsible entity