Section 1232F — Corporations Act 2001: Half-year financial reports and directors’ reports for sub-funds with ED securities on issue

(1) Section 302 does not apply to a CCIV that is a disclosing entity except as set out in this section. (2) If any securities referable to a sub-fund of a retail CCIV are ED securities, section 302 applies to the CCIV as if the requirement in paragraph 302(a) required the CCIV to prepare a financial report and directors’ report for each half-year for the sub-fund. Note: For ED securities in a CCIV, see subsection 111AF(3), and section 111AI as affected by section 1231P. (3) For the purposes of subsection (2), ED securities that are units of shares in a CCIV are referable to the sub-fund of the CCIV to which the shares are referable. (4) The remaining provisions of Division 2 of Part 2M.3 apply in relation to the following documents relating to the sub-fund: (a) a financial report and directors’ report prepared under paragraph 302(a) as applied by subsection (2) of this section; (b) the documents of which the financial report consists under subsection 303(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 2 of Part 2M.3 to the disclosing entity are, where appropriate, to be read as referring to the sub-fund. (5) Despite subsection (4) of this section, paragraph 303(4)(c) applies to a directors’ declaration relating to the sub-fund as if the debts mentioned in that paragraph were only the debts referable to the sub-fund. (6) Section 306 applies to the sub-fund of the CCIV as if the requirement in subsection 306(1) were instead a requirement for the directors’ report for the sub-fund for each half-year to include: (a) a review of the sub-fund’s operations during the half-year and the results of those operations; and (b) details of: (i) the name of each corporate director of the CCIV at any time during or since the end of the half-year, and the period for which each was the corporate director; and (ii) the name of each director of the corporate director of the CCIV at any time during or since the end of the half-year, and the period for which each was a director of the corporate director.