Corporations Act 2001
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 8B.6 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.6, 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 9 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 9, 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.
Effect on assets of the CCIV
1239D(1)
Subsections 601AD(1A) to (4) and section 601AE apply in relation to the deregistration of a sub-fund of a CCIV.
Note: Subsection 601AD(1) does not apply in relation to the deregistration of a sub-fund of a CCIV. The CCIV will continue to exist until the CCIV itself is deregistered.
1239D(2)
Those provisions apply as if a reference to property were instead a reference to property of the sub-fund.
Note: For references to property of a sub-fund, see subsection 51F(3) .
Books
1239D(3)
If a sub-fund of a CCIV is deregistered, the CCIV must keep the CCIV ' s books that relate to the sub-fund (other than books that a liquidator has to keep under subsection 70-35(1) of Schedule 2 ) for 3 years after the deregistration.
Note: If the CCIV itself is deregistered, the corporate director of the CCIV immediately before it is deregistered is required to retain all books of the CCIV including these books: see section 1239L .
1239D(4)
An offence based on subsection (3) is an offence of strict liability.
Consequences of deregistration on status as an Australian passport fund
1239D(5)
If: (a) a sub-fund of a CCIV is deregistered; and (b) the sub-fund was an Australian passport fund;
ASIC must annotate the Register of Passport Funds to indicate that the sub-fund is no longer an Australian passport fund, or cause that annotation to be made on the Register.
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