Section 1237T — Corporations Act 2001: Corporate director may direct ASIC not to destroy books

(1) Before ASIC destroys, in accordance with subsection 70-31(9) of Schedule 2, books relating to the winding up of a sub-fund of a CCIV, ASIC must notify the CCIV that it intends to do so. (2) Despite subsection 70-31(9) of Schedule 2, if: (a) ASIC retains books under subsection 70-31(8) of Schedule 2 in relation to the winding up 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.