Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.4 - CORPORATE FINANCE, FINANCIAL REPORTING AND SUSTAINABILITY REPORTING FOR CCIVs  

Division 4 - Financial reports, sustainability reports and audit of CCIVs  

Subdivision C - Financial and sustainability reporting (retail CCIVs only)  

SECTION 1232C   ANNUAL FINANCIAL REPORTS, SUSTAINABILITY REPORTS AND DIRECTORS ' REPORTS FOR SUB-FUNDS - GENERAL RULES  

1232C(1)    
Division 1 of Part 2M.3 applies to a retail CCIV as if:

(a)    subsection 292(1) required the CCIV to prepare a financial report for each of its sub-funds for each financial year; and

(aa)    

in a case in which subsection 292A(1) requires the CCIV to prepare a sustainability report for a financial year - that subsection requires the CCIV to prepare a sustainability report for each of its sub-funds for the financial year; and

(b)    subsections 292(1) and 298(1) required the CCIV to prepare a directors ' report for each of its sub-funds for each financial year.

Note: The CCIV is not required to prepare such reports for the CCIV itself.

1232C(2)    
The remaining provisions of Division 1 of Part 2M.3 apply in relation to the following documents relating to each sub-fund of the retail CCIV:

(a)    

a financial report, a sustainability report and a directors ' report referred to in subsection (1) of this section;

(b)    the documents of which the financial report consists under subsection 295(1) ;

(c)    

the documents of which the sustainability report consists under subsection 296A(1) ;

as if the sub-fund were the CCIV.

Note: The combined effect of subsection 1232(1) and this subsection is that references in the remaining provisions of Division 1 of Part 2M.3 to the company are, where appropriate, to be read as referring to the sub-fund.

Example: References in the remaining provisions of Division 1 of Part 2M.3 to a listed company will be read as referring to the sub-fund if the sub-fund is listed (see also paragraph (c) of the definition of listed in section 9 ).

1232C(3)    
Without limiting subsection (2) , Division 1 of Part 2M.3 so applies as if references in that Division to members (other than references to members of an audit firm) were instead references to members of the sub-fund.

1232C(4)    
Despite subsection (2) , Division 1 of Part 2M.3 applies to the retail CCIV in relation to each of its sub-funds as if:

(a)    references in that Division to the officers of, or an officer of, the company were instead references to each of the following:

(i) an officer of the CCIV;

(ii) an officer of the corporate director of the CCIV; and

(b)    despite paragraph 1232(1)(a) , references in that Division to the directors of, or a director of, the company were instead references to each of the following:

(i) the corporate director of the CCIV;

(ii) a director of the corporate director of the CCIV.

1232C(5)    
Subparagraphs (4)(a)(i) and (b)(i) are included for the avoidance of doubt.