Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.5 - OPERATING A CCIV  

Division 4 - Purposes for which sub-fund assets may be applied  

SECTION 1234F   CONSEQUENCES OF NON-COMPLIANT APPLICATION OF ASSETS  

1234F(1)    
If money or property of a CCIV is applied or dealt with in contravention of section 1234 , 1234A , 1234C or 1234D , the contravention does not affect the validity of any contract or transaction connected with the application or dealing.

Note: A Court may order an injunction to stop the CCIV applying or dealing with the asset (see section 1324 ).

1234F(2)    
A CCIV contravenes this subsection if:

(a)    the CCIV applies or deals with money or property of the CCIV; and

(b)    the application or dealing contravenes section 1234 , 1234A , 1234C or 1234D .

Fault-based offence

1234F(3)    
A person commits an offence if the person contravenes subsection (2) .

Strict liability offence

1234F(4)    
A person commits an offence of strict liability if the person contravenes subsection (2) .