Corporations Act 2001
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Hide history noteCCH note - modifying legislative instruments: The application of Pt 8B.4 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (CCIV Auditors) Instrument 2024/668.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 8B.4, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH note - modifying legislative instruments: The application of Division 4 is affected by the following legislative instruments that commenced on or after 1 January 2022: the ASIC Corporations (CCIV Auditors) Instrument 2024/668.
For legislative instruments or class orders before 1 January 2022 that affect the application of Division 4, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
Subject to the modifications set out in this section, Division 3 of Part 2M.3 applies in relation to a sub-fund of a retail CCIV, and in relation to the following documents relating to the sub-fund: (a) a financial report prepared as described in subsection 1232C(1) ; (aa) a sustainability report prepared as described in subsection 1232C(1) ; (b) a financial report prepared as described in section 1232F ;
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 3 of Part 2M.3 to the company are, where appropriate, to be read as referring to the sub-fund.
1232G(2)
Without limiting subsection (1) , Division 3 of Part 2M.3 so applies as if: (a) references in that Division to members (other than references to members of an audit firm) were instead references to members of the sub-fund; and (b) references in that Division to an officer included references to an officer of the corporate director of the CCIV.
Audit
1232G(3)
Section 307 applies in relation to the sub-fund of the CCIV as if the requirements in paragraphs 307(c) and (d) do not apply, and as if those paragraphs instead require the auditor to form an opinion about whether the CCIV has kept: (a) financial records, relating to the sub-fund, sufficient to enable a financial report, relating to the sub-fund, to be prepared and audited; and (b) other records and registers, relating to the sub-fund, as required by this Act.
Reporting to ASIC
1232G(4)
Section 311 applies in relation to the sub-fund of the CCIV as if the requirement in paragraph 311(4)(b) were a requirement to have regard to the effect that the contravention has, or may have, on: (a) the overall financial position of either the CCIV or the sub-fund, or both; or (b) the adequacy of the information available about the overall financial position of either the CCIV or the sub-fund, or both.
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