Section 1232C — Corporations Act 2001: Annual financial reports, sustainability reports and directors’ reports for sub-funds—general rules

(1) Division 1 of Part 2M.3 applies to a retail CCIV as if: (a) subsection 292(1) required the CCIV to prepare a financial report for each of its sub-funds for each financial year; and (aa) in a case in which subsection 292A(1) requires the CCIV to prepare a sustainability report for a financial year—that subsection requires the CCIV to prepare a sustainability report for each of its sub-funds for the financial year; and (b) subsections 292(1) and 298(1) required the CCIV to prepare a directors’ report for each of its sub-funds for each financial year. Note: The CCIV is not required to prepare such reports for the CCIV itself. (2) The remaining provisions of Division 1 of Part 2M.3 apply in relation to the following documents relating to each sub-fund of the retail CCIV: (a) a financial report, a sustainability report and a directors’ report referred to in subsection (1) of this section; (b) the documents of which the financial report consists under subsection 295(1); (c) the documents of which the sustainability report consists under subsection 296A(1); 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 1 of Part 2M.3 to the company are, where appropriate, to be read as referring to the sub-fund. Example: References in the remaining provisions of Division 1 of Part 2M.3 to a listed company will be read as referring to the sub-fund if the sub-fund is listed (see also paragraph (c) of the definition of listed in section 9). (3) Without limiting subsection (2), Division 1 of Part 2M.3 so applies as if references in that Division to members (other than references to members of an audit firm) were instead references to members of the sub-fund. (4) Despite subsection (2), Division 1 of Part 2M.3 applies to the retail CCIV in relation to each of its sub-funds as if: (a) references in that Division to the officers of, or an officer of, the company were instead references to each of the following: (i) an officer of the CCIV; (ii) an officer of the corporate director of the CCIV; and (b) despite paragraph 1232(1)(a), references in that Division to the directors of, or a director of, the company were instead references to each of the following: (i) the corporate director of the CCIV; (ii) a director of the corporate director of the CCIV. (5) Subparagraphs (4)(a)(i) and (b)(i) are included for the avoidance of doubt.