Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.5 - OPERATING A CCIV  

Division 5 - How CCIV assets must be held  

SECTION 1234J   HOW CCIV MONEY AND PROPERTY MUST BE HELD  

1234J(1)    
A person who holds assets of a sub-fund of a CCIV that have been clearly identified as such in the CCIV ' s allocation register must hold the assets separately from any other property (including from assets of any other sub-fund of the CCIV).

Note: This subsection is a civil penalty provision (see section 1317E ).

1234J(2)    
A person who holds money or property of a CCIV that has not yet been clearly identified in the CCIV ' s allocation register as forming part of the assets of a sub-fund or sub-funds of the CCIV must hold that money or property separately from any other property.

Note: This subsection is a civil penalty provision (see section 1317E ).

1234J(3)    
Despite subsection (1) , a person who holds an item of property of a CCIV to which section 1233K (about property that has to be converted into money etc.) applies must hold that item of property separately from any other property.

Note: This subsection is a civil penalty provision (see section 1317E ).

1234J(4)    
Subsections (1) , (2) and (3) are subject to the regulations made for the purposes of this subsection.

Strict liability offence

1234J(5)    
An offence based on subsection (1) , (2) or (3) is an offence of strict liability.