Corporations Act 2001
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 8B.7 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.7, 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.
This section applies to a provision of Chapter 7 that applies in relation to: (a) a financial services licensee; or (b) a financial service or a financial services business; or (c) a matter prescribed by the regulations for the purposes of this paragraph.
General rule
1241A(2)
For the purposes of that provision of Chapter 7 : (a) treat any conduct engaged in by, or on behalf of, a CCIV as also being engaged in by, or on behalf of, the corporate director of the CCIV; and (b) treat any conduct relating to the CCIV that is engaged in by a person (other than the corporate director of the CCIV) as also being engaged in by that person in relation to the corporate director of the CCIV.
1241A(3)
In subsection (2) , conduct means an act, an omission to perform an act or a state of affairs.
Exceptions
1241A(4)
If the CCIV issues a security in the CCIV, then subsection (2) does not treat the corporate director of the CCIV as also being the issuer of the security.
1241A(5)
If the CCIV is a participant in: (a) a clearing and settlement facility; or (b) a financial market;
subsection (2) does not treat the corporate director of the CCIV as also being a participant in relation to the facility or market.
1241A(6)
Subsection (2) does not apply in any circumstances prescribed by the regulations for the purposes of this subsection.
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