Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.6 - EXTERNAL ADMINISTRATION AND DEREGISTRATION  

Division 3 - Receivers, and other controllers, of property of sub funds  

Subdivision C - Application of Part 5.2 to control of property of sub-funds  

SECTION 1236E   APPLYING PART 5.2 ETC. TO SUB-FUNDS  

1236E(1)    
The controller provisions referred to in subsection (2) apply to a CCIV with:

(a)    the modifications set out in this Division; and

(b)    such other modifications as are made necessary by the fact that the provisions are applying to a sub-fund instead of to a corporation.

Controller provisions

1236E(2)    
The provisions (the controller provisions ) are as follows:

(a)    Part 5.2 and Division 2B of Part 5.7B (other than a provision excluded by subsection (3) );

(b)    the other provisions of the Corporations legislation (other than a provision excluded by subsection (3) ) to the extent to which they relate to the operation of the provisions referred to in paragraph (a) .

1236E(3)    
For the purposes of subsection (2) , the provisions excluded from the controller provisions are as follows:

(a)    section 416 ;

(b)    section 418 ;

(c)    a provision prescribed by regulations made for the purposes of this paragraph.

Note: Section 1236C applies instead of section 418 .

Translation rules

1236E(4)    
In the application of the controller provisions, those provisions apply as if the substitutions set out in the following table were made.

Substitutions to be made
Item	Column 1 If the provision …	Column 2 substitute a reference to …
1	refers to the corporation (the relevant corporation ) in relation to whose property a controller has been, or is to be appointed (whether the reference is express or implied, and (if the reference is express) whether the corporation is referred to as a corporation, a company, a body corporate, or in some other way), and the reference is not covered by another item of this table	the sub-fund (but see subsections (5) and (6) )
2	refers to the directors, or a director, or the board of the relevant corporation	the corporate director of the CCIV
3	refers to an officer of the relevant corporation	each of the following:
		(a)	a director of the CCIV;
		(b)	a person covered by paragraph (b) , (c) or (d) of the definition of officer of a CCIV in section 1224B in relation to the sub-fund
4	refers to shares in the relevant corporation	shares referable to the sub-fund
5	refers to debentures of the relevant corporation	debentures referable to the sub-fund

1236E(5)    
Despite item 1 of the table in subsection (4) , a reference covered by column 1 of that item is taken to be a reference to the CCIV if the context of the reference so requires (for example, because the reference requires the legal capacity and powers of a company).

1236E(6)    
If a reference in a provision to the relevant corporation is, as a result of subsection (5) , taken to be a reference to the CCIV, the operation of the provision in relation to the CCIV is confined, to the extent possible, to the sub-fund.