Section 1236L — Corporations Act 2001: Transfer of books to ASIC etc.

(1) Before ASIC destroys, in accordance with subsection 422D(9), books relating to the control of property of a sub-fund of a CCIV, ASIC must notify the CCIV that it intends to do so. (2) Despite subsection 422D(9), if: (a) ASIC retains books under subsection 422D(8) in relation to the control of property of a sub-fund of a CCIV; and (b) the retention period mentioned in that subsection ends; and (c) the CCIV, by resolution of the corporate director, directs ASIC not to destroy the books; ASIC must, as soon as practicable, transfer possession or control of those books to the CCIV.