Corporations Act 2001
View history note
Hide history noteCCH Note: Division 4 is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
CCH Note: Subdivision A is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
CCH Note: Section 1226D is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
Corporate director ' s powers
1226D(1)
The corporate director of a CCIV may modify the CCIV ' s compliance plan or repeal it and replace it with a new compliance plan.
ASIC may require modifications
1226D(2)
ASIC may give the corporate director of a retail CCIV a direction, in writing, to modify the CCIV ' s compliance plan, as set out in the direction, to ensure that the plan is consistent with section 1226A . The direction must specify the period (which must be at least 14 days after the direction is given) within which the corporate director must make the modification.
1226D(3)
The corporate director must comply with the direction within the period specified.
Lodgement of modification or new plan
1226D(4)
The corporate director must lodge with ASIC a copy of a modification of the CCIV ' s compliance plan or of a new compliance plan within 14 days after the modification is made or the old plan is repealed. The copy must be signed by all the directors of the corporate director.
1226D(5)
An offence based on subsection (3) or (4) is an offence of strict liability.
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