Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.6 - EXTERNAL ADMINISTRATION AND DEREGISTRATION  

Division 5 - Winding up of sub funds  

Subdivision E - Modified duties and powers of officers of corporate director and CCIV  

SECTION 1237T   CORPORATE DIRECTOR MAY DIRECT ASIC NOT TO DESTROY BOOKS  

1237T(1)    
Before ASIC destroys, in accordance with subsection 70-31(9) of Schedule 2 , books relating to the winding up of a sub-fund of a CCIV, ASIC must notify the CCIV that it intends to do so.

1237T(2)    
Despite subsection 70-31(9) of Schedule 2 , if:

(a)    ASIC retains books under subsection 70-31(8) of Schedule 2 in relation to the winding up of a sub-fund of a CCIV; and

(b)    the retention period mentioned in that subsection ends; and

(c)    the CCIV, by resolution of the corporate director, directs ASIC not to destroy the books;

ASIC must, as soon as practicable, transfer possession or control of those books to the CCIV.