Section 1239D — Corporations Act 2001: Effect of deregistration of a sub-fund

Effect on assets of the CCIV (1) Subsections 601AD(1A) to (4) and section 601AE apply in relation to the deregistration of a sub-fund of a CCIV. Note: Subsection 601AD(1) does not apply in relation to the deregistration of a sub-fund of a CCIV. The CCIV will continue to exist until the CCIV itself is deregistered. (2) Those provisions apply as if a reference to property were instead a reference to property of the sub-fund. Note: For references to property of a sub-fund, see subsection 51F(3). Books (3) If a sub-fund of a CCIV is deregistered, the CCIV must keep the CCIV’s books that relate to the sub-fund (other than books that a liquidator has to keep under subsection 70-35(1) of Schedule 2) for 3 years after the deregistration. Note: If the CCIV itself is deregistered, the corporate director of the CCIV immediately before it is deregistered is required to retain all books of the CCIV including these books: see section 1239L. (4) An offence based on subsection (3) is an offence of strict liability. Consequences of deregistration on status as an Australian passport fund (5) If: (a) a sub-fund of a CCIV is deregistered; and (b) the sub-fund was an Australian passport fund; ASIC must annotate the Register of Passport Funds to indicate that the sub-fund is no longer an Australian passport fund, or cause that annotation to be made on the Register.