Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.5 - OPERATING A CCIV  

Division 3 - Requirement for assets and liabilities to be allocated between sub-funds  

Subdivision A - The CCIV ' s allocation register  

SECTION 1233E   REQUIREMENT TO ENTER LIABILITIES ON THE ALLOCATION REGISTER  

1233E(1)    
The liabilities of a sub-fund of a CCIV must be clearly identified in the allocation register as liabilities of the sub-fund.

1233E(2)    
If section 1233M (about liabilities allocated to 2 or more sub-funds) applies to a liability of a CCIV:

(a)    the liability must be clearly identified in the allocation register as a liability to which that section applies; and

(b)    the proportion of the liability applicable to each sub-fund under subsection 1233L(2) must be clearly identified in the allocation register as the proportion applicable to the sub-fund.

1233E(3)    
The corporate director must make entries in the allocation register as required in order to ensure the allocation register makes the identifications required by subsections (1) and (2) .

1233E(4)    
An entry required by subsection (3) must be made within:

(a)    for a case where a liability arises - 5 business days after the liability arises; or

(b)    for a case where a liability is discharged, or otherwise ceases to be a liability of the sub-fund - 5 business days after the discharge or cessation.

Note: For the liabilities of a CCIV, and when they arise, see section 1233A .

Fault-based offence

1233E(5)    
A person commits an offence if:

(a)    the person is subject to a requirement under subsection (3) ; and

(b)    the person fails to comply with the requirement.

Strict liability offence

1233E(6)    
A person commits an offence of strict liability if the person contravenes subsection (3) .