Fractional property investment company DomaCom (ASX:DCL) (Company) announces the next stage in the legal proceedings which the Company is supporting in the Federal Court of Australia, which will consider the application of Superannuation legislation to allow investment in the DomaCom Fund.
The Applicant in the proceeding is seeking confirmation whether the Superannuation legislation allows Self- Managed Superannuation Funds (SMSFs) to invest in units allocated to a DomaCom sub-fund that holds a residential property where the tenant of that underlying property is a related party of the SMSF.
The proceeding has been set down for a hearing with an estimate of two days on 27 November 2017.
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