Corporations Act 2001
Sections and provisions with full text and the judgments that cite each one.
Section 1222D — Corporate director and members of a CCIV
(1) A public company becomes the director of a CCIV on registration if the public company is specified in the application with its consent as the proposed corporate director of the CCIV. (2) A person…
Section 1222E — Special requirements for naming of CCIVs
(1) Subsection 148(1) applies to a CCIV as if the reference to subsections (2) and (3) of section 148 were instead a reference to subsection (2) of this section. (2) A CCIV must have the expression…
Section 1222F — Special requirements for acceptable abbreviations of CCIV names
Section 149 has effect as if the following item were added to the table in subsection (1) of that section: 10 Corporate Collective Investment Vehicle CCIV
Section 1222G — Carrying on business using “CCIV” in name
Section 156 has effect as if paragraph 156(1)(a) included a reference to the words “Corporate Collective Investment Vehicle” (or an abbreviation of those words).
Section 1222H — Change of name not allowed while sub-fund in liquidation
No application may be lodged with ASIC under section 157A in relation to a CCIV.
Section 1222J — Meaning of retail CCIV and wholesale CCIV
(1) A CCIV is a retail CCIV if: (a) the CCIV satisfies the retail CCIV test in section 1222K; or (b) the CCIV is notified as a retail CCIV (see section 1222L). (2) A CCIV that is not a retail CCIV is…
Section 1222K — Retail CCIV test
(1) A CCIV satisfies the retail CCIV test in this section if any of the following apply: (a) at least one member of the CCIV is covered by subsection (2) (about protected retail clients); (b) at…
Section 1222L — Notifying ASIC of status as a retail CCIV or wholesale CCIV
(1) For the purposes of paragraph 1222J(1)(b), a CCIV is notified as a retail CCIV if: (a) the most recent notice lodged with ASIC under this section is a notice that the CCIV is, or wishes to be, a…
Section 1222M — Table of provisions that apply only to retail CCIVs
The following table sets out the main provisions of this Act that apply only in relation to retail CCIVs. If a provision is not set out in this table, disregard that fact in deciding whether or not…
Section 1222N — Certain CCIVs and sub-funds must not be listed
The following must not be included in the official list of a declared financial market operated in this jurisdiction: (a) a wholesale CCIV; (b) a retail CCIV that has more than one sub-fund; (c) a…
Section 1222P — Part 2B.7 does not apply to a CCIV
Part 2B.7 (about changing company type) does not apply to a CCIV.
Section 1222Q — What is a sub-fund of a CCIV
(1) A sub-fund of a CCIV is all or part of the business of the CCIV that is registered as a sub-fund under section 1222S. Note: A sub-fund of a CCIV may be registered as a passport fund: see Part…
Section 1222R — Initial sub-funds to be registered when the CCIV is registered
If ASIC registers a CCIV, ASIC must also register one or more sub-funds of the CCIV. Note: If ASIC deregisters a sub-fund, and as a result the CCIV has no sub-funds, ASIC must deregister the CCIV:…
Section 1222S — Registration of a sub-fund
Registration of initial sub-funds (1) ASIC may register a sub-fund of a CCIV if: (a) ASIC registers the CCIV; and (b) the proposed name of the sub-fund is specified in the application to register the…
Section 1222T — Sub-fund is established on registration
(1) A sub-fund of a CCIV is established at the beginning of the day on which the sub-fund is registered. (2) The sub-fund’s name is the name specified in ASIC’s record of the registration.
Section 1222U — Application to register further sub-funds
(1) To register a sub-fund of a CCIV, a person may lodge an application with ASIC. Note: A CCIV must have at least one sub-fund when it is first registered: see section 1222R. (2) The application…
Section 1222V — A sub-fund’s name
CCIV using ACN (1) If a CCIV has as its name the expression “Australian Company Number” followed by the CCIV’s ACN, a sub-fund of the CCIV may have as its name the expression “Australian Registered…
Section 1222W — Using sub-fund name and ARFN on documents
(1) A CCIV must set out a sub-fund’s name and ARFN on all its public documents and negotiable instruments that relate to the sub-fund. (2) An offence based on subsection (1) is an offence of strict…
Section 1222X — Acceptable abbreviations of sub-fund names
(1) The abbreviations set out in the following table may be used: (a) instead of words that this Act requires to be part of a sub-fund’s name or to be included in a document or negotiable instrument;…
Section 1222Y — Sub-fund changing its name
(1) To change the name of a sub-fund of a CCIV, the CCIV may lodge an application to ASIC in the prescribed form stating the proposed name of the sub-fund. (2) However, no application may be lodged…
Section 1222Z — ASIC’s power to direct CCIV to change a sub-fund’s name
(1) ASIC may direct a CCIV in writing to change the name of a sub-fund of the CCIV within 2 months if: (a) the name should not have been registered; or (b) ASIC has directed the CCIV to change its…
Section 1223 — Execution of documents (including deeds) by the CCIV itself
(1) A document is taken to have been signed in accordance with subsection 127(1) if the document is signed by: (a) 2 directors of the corporate director of the CCIV; or (b) a director and a company…
Section 1223A — Replaceable rules do not apply to a CCIV
(1) A section or subsection whose heading contains the words replaceable rule does not apply as a replaceable rule to a CCIV. (2) Subsection (1) applies despite paragraph 135(1)(a).
Section 1223B — Requirement for a CCIV to have a constitution
(1) A CCIV must have a constitution. A CCIV may not repeal its constitution unless it replaces the constitution with a new constitution. Minimum content requirements for the constitution (2) The…
Section 1223C — Retail CCIV—ASIC may direct CCIV to modify its constitution
(1) ASIC may direct a retail CCIV to modify its constitution, as set out in the direction, to ensure that the CCIV’s constitution complies with the content requirements applicable to the CCIV under…
Section 1223D — Adoption, modification and repeal of constitution
(1) A CCIV adopts on registration the constitution lodged with the application to register the CCIV. (2) The constitution of a CCIV may be modified, or repealed and replaced with a new constitution:…
Section 1223E — Effect of constitution
In addition to the effect mentioned in subsection 140(1), a CCIV’s constitution also has effect as a contract between the corporate director and each member of the CCIV.
Section 1223F — Wholesale CCIV—Basic content requirement
A wholesale CCIV’s constitution must specify the requirements that must be complied with for the CCIV to modify its constitution, or repeal its constitution and replace it with a new one.
Section 1223G — Retail CCIV—Basic content requirements
A retail CCIV’s constitution must do the following: (a) make provision for the establishment of sub-funds, and classes of shares referable to sub-funds; (b) make provision for the method by which…
Section 1223H — Retail CCIV—Additional content requirement for redemption of shares
(1) This section applies if all or some of the shares in a retail CCIV are redeemable shares or redeemable preference shares. (2) The CCIV’s constitution must make provision for the shares to be…
Section 1224 — A CCIV has a single corporate director
A CCIV may only have one director (1) A CCIV must not appoint more than one director. Note: For who can be the director of a CCIV, see sections 1224F and 1224G. Position of director is the position…
Section 1224A — A CCIV has no secretary and no employees
(1) A CCIV must not appoint a secretary. Note: The secretary of the corporate director is responsible for certain corporate contraventions by the CCIV: see Division 3 of this Part. (2) A CCIV must…
Section 1224ZA — Rights, obligations and liabilities of former corporate director
(1) If the corporate director of a CCIV changes, the rights, obligations and liabilities of the former corporate director in relation to the CCIV become rights, obligations and liabilities of the new…
Section 1224B — Meaning of officer of a CCIV
In this Act: officer of a corporation that is a CCIV means: (a) a director of the CCIV; or (b) a receiver, or receiver and manager, of the property of a sub-fund of the CCIV; or (c) a liquidator of a…
Section 1224ZB — Effect of change of corporate director on documents etc. to which former corporate director is party
(1) If the corporate director of a CCIV changes, a document relating to the CCIV: (a) to which the former corporate director is a party, in which a reference is made to the former corporate director,…
Section 1224C — General duties owed by officers
(1) Division 1 of Part 2D.1 (about general duties) applies to a CCIV with the modifications set out in this section. (2) In applying Division 1 of Part 2D.1 (about general duties) in relation to an…
Section 1224ZC — Member approval not needed for benefit specified in constitution
Despite subsection 200AB(1), for the purposes of Division 2 of Part 2D.2, a benefit does not include a payment made by the CCIV to its corporate director if: (a) the corporate director is entitled to…
Section 1224D — Duties owed by director
Duties owed by a director of any CCIV (1) A director of a CCIV must, in exercising its powers and carrying out its duties: (a) act honestly; and (b) act in the best interests of the members of the…
Section 1224ZD — Modified member approval for CCIVs
(1) Sections 200B and 200C apply in relation to a benefit given by a CCIV as if: (a) the members whose approval is required under those provisions were the members of the sub-fund of the CCIV that…
Section 1224E — Certain provisions in Chapter 2D do not apply to CCIVs
The following do not apply to a CCIV: (a) Part 2D.3 (about appointment, remuneration and cessation of appointment of directors); (b) Part 2D.4 (about appointment of secretaries); (c) Part 2D.5 (about…
Section 1224ZE — Benefits paid to corporate director not covered by exemptions
To avoid doubt, a benefit that is a payment to the corporate director of a CCIV is not a benefit to which paragraph 200F(1)(a), subsection 200F(2), or section 200G applies.
Section 1224F — Who can be the director of a CCIV
The only kind of person who may be appointed as the director of a CCIV is a public company that: (a) holds an Australian financial services licence authorising it to operate the business and conduct…
Section 1224G — Retail CCIV—additional rules about who can be the director
(1) At least half of the directors of the corporate director of a retail CCIV must be external directors. (2) A director of the corporate director is an external director if the director: (a) is not,…
Section 1224H — Effectiveness of acts by corporate director
(1) An act done by the company named in ASIC’s record of a CCIV’s registration as the corporate director or temporary corporate director of the CCIV is effective even if: (a) the company’s…
Section 1224J — Corporate director must operate the CCIV
(1) The corporate director of a CCIV is to: (a) operate the business and conduct the affairs of the CCIV; and (b) perform the functions conferred on the corporate director by the CCIV’s constitution…
Section 1224K — Corporate director not required to disclose material personal interest
Subject to section 1225C (about the directors of the corporate director), section 191 does not require a director of a CCIV to give notice of an interest. Note: Section 1225C is about the obligations…
Section 1224L — Corporate director may appoint an agent or engage a person
Agents appointed by corporate director (1) The corporate director has power to appoint an agent, or otherwise engage a person, to do anything that the corporate director is authorised to do in…
Section 1224M — Retail CCIV—responsibility of corporate director for certain acts of agents
(1) Subsection (2) applies in relation to a retail CCIV for the purpose of determining whether: (a) there is a liability to the CCIV or the CCIV’s members; or (b) the corporate director has properly…
Section 1224N — Retail CCIV—limitation on right of corporate director to fees and indemnities
If the corporate director of a retail CCIV is to have any rights to be paid fees out of assets of a sub-fund of the CCIV, or to be indemnified out of assets of a sub-fund of the CCIV for liabilities…
Section 1224P — Retail CCIV—limitation on right of corporate director to acquire shares in CCIV
(1) The corporate director of a retail CCIV may acquire and hold a share in the CCIV, but the corporate director must only do so: (a) for not less than the consideration that would be payable if the…