Corporations Act 2001
Sections and provisions with full text and the judgments that cite each one.
Section 1232E — Annual financial reports and directors’ reports for sub-funds—special rules for directors’ reports
(1) Section 300 applies in relation to a sub-fund of a CCIV referred to in subsection 1232C(1) as if: (a) a reference in that section to options, shares or interests relating to the CCIV were instead…
Section 1232F — 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…
Section 1232G — Audit and auditor’s report for sub-funds
(1) Subject to the modifications set out in this section, Division 3 of Part 2M.3 applies in relation to a sub-fund of a retail CCIV, and in relation to the following documents relating to the…
Section 1232H — Annual financial and sustainability reporting to members of sub-funds
(1) Section 314 applies to a retail CCIV, in relation to each sub-fund of the CCIV, as if the requirement in subsection 314(1) were instead a requirement to report to members of the sub-fund for the…
Section 1232J — Deadline for reporting to members of sub-funds
Section 315 applies to a retail CCIV in relation to the members of each sub-fund of the CCIV as if the CCIV were a registered scheme.
Section 1232K — Consideration of reports at AGM
Section 317 does not apply in relation to a retail CCIV.
Section 1232L — Additional reporting by CCIVs that are debenture issuers
If a retail CCIV was a borrower in relation to debentures at the end of a financial year, section 318 applies to the CCIV, in relation to each sub-fund of the CCIV, as if: (a) the requirement in…
Section 1232M — Relodgement if financial reports, sustainability reports or directors’ reports relating to sub-fund amended after lodgement
Section 322 applies in relation to a financial report, sustainability report or directors’ report relating to a sub-fund of a retail CCIV as if references in that section to a member were instead…
Section 1232N — Conflict of interest situation
(1) Subsection 324CD(2) has effect as if the following item were added to the table in that subsection: 4 a retail CCIV the corporate director or a former corporate director of the CCIV; or a current…
Section 1232P — Auditor independence—specific requirements
Subdivision B of Division 3 of Part 2M.4 applies in relation to a retail CCIV as if: (a) references in the table in subsection 324CH(1) to the audited body included references to the corporate…
Section 1232Q — People who are regarded as officers of a CCIV
Section 324CL applies in relation to a retail CCIV as if references in paragraph 324CL(1)(a) or (b) or subsection 324CL(2), (3) or (4) to the company included references to the corporate director of…
Section 1232R — Appointment, removal and fees of auditors for CCIVs
(1) Division 6 of Part 2M.4 (about appointment, removal and fees of auditors for companies) does not apply to a CCIV. (2) Division 7 of Part 2M.4 (about appointment, removal and fees of auditors for…
Section 1232S — Effect of winding up of sub-fund on office of auditor
Audit and auditor’s report not required to cover a sub-fund in respect of which a CCIV is being wound up (1) An auditor of a CCIV is not required by Division 3 of Part 2M.3, as it applies under…
Section 1232T — Extended liability of directors of the corporate director for contraventions of Chapter 2M
(1) Section 344 applies as if each of the following were a director of a CCIV: (a) the corporate director of the CCIV; (b) a director of the corporate director of the CCIV. Note: Section 344 creates…
Section 1232U — Solvency resolutions
(1) Part 2N.3 (about solvency resolutions) does not apply in relation to a CCIV. (2) Section 348C (about ASIC requiring a solvency resolution and statement) does not apply in relation to a CCIV.
Section 1233 — Meaning of property
In this Part: property of a CCIV includes PPSA retention of title property, if the security interest in the property is vested in the CCIV because of the operation of any of the following provisions:…
Section 1233A — References to liabilities of a CCIV
(1) A reference in this Act to the liabilities of a CCIV includes a reference to: (a) debts of the CCIV (including contingent and prospective debts); and (b) expenses of the CCIV; and (c) anything…
Section 1233B — Sub-funds to be operated as separate businesses
(1) A part of the business of a CCIV must not be operated if it is not registered as a sub-fund. (2) A part of the business of a CCIV that is registered as a sub-fund must be operated as a separate…
Section 1233C — Corporate director to keep allocation register
(1) The corporate director of a CCIV must set up and maintain a register of the assets and liabilities of the sub-funds of the CCIV. The register is the CCIV’s allocation register. Note: The register…
Section 1233D — Requirement to enter assets on the allocation register
(1) The assets of a sub-fund of a CCIV must be clearly identified in the allocation register as assets of the sub-fund. (2) If section 1233K (about property that has to be converted into money etc.)…
Section 1233E — Requirement to enter liabilities on the allocation register
(1) The liabilities of a sub-fund of a CCIV must be clearly identified in the allocation register as liabilities of the sub-fund. (2) If section 1233M (about liabilities allocated to 2 or more…
Section 1233F — Liquidator may require corporate director to record debt, claim or property in allocation register
(1) This section applies if: (a) a debt payable by, or claim against, a CCIV (present or future, certain or contingent, ascertained or sounding only in damages) is not entered as a liability of any…
Section 1233G — Requirement to retain records of allocations for 7 years
(1) The corporate director must retain a record of: (a) entries made in the allocation register in relation to assets and liabilities of the CCIV; and (b) determinations made under Subdivision B or C…
Section 1233H — Meaning of assets—sub-fund of a CCIV
(1) Money or property forms part of the assets of a sub-fund to the extent the money or property was obtained by the application of assets of the sub-fund. Note: Division 4 of this Part requires…
Section 1233J — When an allocation determination is required
(1) This section applies if money or property acquired by a CCIV in a single transaction does not become wholly part of the assets of a single sub-fund of the CCIV under section 1233H. (2) The…
Section 1233K — When property must be converted into money etc.
(1) This section applies if, as a result of the operation of section 1233H, a single item of property of a CCIV forms part of the assets of 2 or more sub-funds of the CCIV. (2) For the purposes of…
Section 1233L — Meaning of liabilities—sub-fund of a CCIV
(1) The liabilities of a sub-fund of a CCIV at a particular time are the following: (a) liabilities of the CCIV that relate solely to the business of the sub-fund; (b) liabilities of the CCIV not…
Section 1233M — When an allocation determination is required
(1) This section applies if a liability of a CCIV does not relate solely to the business of one sub-fund of the CCIV. (2) The corporate director must determine (whether in the CCIV’s allocation…
Section 1233N — Variations of proportional allocation of liabilities
(1) The corporate director may vary a determination made under section 1233M if it is necessary to do so to ensure that the determination remains operative for the purposes of subsection 1233M(4).…
Section 1233P — Creditor may require corporate director to provide information about allocation
(1) A creditor of a CCIV may, by notice in writing given to the corporate director of the CCIV, require the corporate director to provide the creditor with the following information about the debt…
Section 1233Q — Orders the Court can make in relation to assets and liabilities of sub-funds
(1) The Court may, on an application under subsection (3), make any orders, and give any directions, that the Court considers appropriate in relation to the assets and liabilities of the sub-funds of…
Section 1234 — Unallocated money and property may not be applied for any purpose
Money or property of a CCIV that has not been clearly identified in the CCIV’s allocation register as forming part of the assets of a sub-fund or sub-funds of the CCIV may not be applied, or dealt…
Section 1234A — Requirement for segregated application of assets of sub-funds
(1) The assets of a sub-fund of a CCIV must not be applied, or dealt with, whether directly or indirectly: (a) subject to paragraph (b), for any purpose other than a purpose covered by section 1234B;…
Section 1234B — Purposes for which sub-fund assets may be applied
This section covers the following purposes: (a) meeting liabilities of the sub-fund; (b) carrying on the business of the sub-fund; (c) paying a dividend to members of the sub-fund; (d) providing…
Section 1234C — Property that is required to be converted to be applied only for that purpose
An item of property of a CCIV to which section 1233K applies may not be applied for any purpose, except for the purpose of the conversion required by that section. Note: For the consequences of a…
Section 1234D — Requirement for security interests to be segregated
A CCIV must not grant a security interest in personal property of the CCIV if the personal property comprises assets of 2 or more sub-funds of the CCIV. Note: For the consequences of a contravention…
Section 1234E — Court orders
(1) In a proceeding to which a CCIV is a party, a court must not make an order that is inconsistent with section 1234, 1234A, 1234C or 1234D, unless the court considers that the interests of justice…
Section 1234F — Consequences of non-compliant application of assets
(1) If money or property of a CCIV is applied or dealt with in contravention of section 1234, 1234A, 1234C or 1234D, the contravention does not affect the validity of any contract or transaction…
Section 1234G — Who may hold the assets of a CCIV
(1) The money and property of a CCIV may be held by the CCIV or another person. (2) Subsection (1) is subject to the regulations made for the purposes of this subsection. Note: This Division contains…
Section 1234H — Person other than CCIV holds money or property on trust
(1) A person other than the CCIV who holds money or property of the CCIV is taken to hold the money or property on trust for the CCIV. (2) To avoid doubt, nothing in this Chapter is intended to have…
Section 1234J — How CCIV money and property must be held
(1) A person who holds assets of a sub-fund of a CCIV that have been clearly identified as such in the CCIV’s allocation register must hold the assets separately from any other property (including…
Section 1234K — Regulations may create exceptions
(1) The regulations may provide that prescribed classes of assets: (a) are assets to which the provisions of this Division do not apply; or (b) are assets to which prescribed provisions of this…
Section 1235 — Construing terms and expressions affected by substituted references
Terms or expressions that have a particular meaning in relation to a sub-fund (1) To avoid doubt, if: (a) a term or expression has a particular meaning in this Act in relation to a sub-fund of a…
Section 1235A — Object of this Division
The object of this Division is to provide for arrangements and reconstructions of sub-funds of CCIVs to occur in the same way that arrangements and reconstructions of Part 5.1 bodies occur.
Section 1235B — Compromises etc. not to be made between 2 or more sub-funds
The Court may not approve a compromise or arrangement between a CCIV and: (a) the creditors of 2 or more sub-funds of a CCIV; or (b) the members of 2 or more sub-funds of a CCIV. Note: However, the…
Section 1235C — Applying arrangements and reconstructions provisions to sub-funds
(1) If a compromise or arrangement is proposed between a CCIV and the creditors of a sub-fund or any class of them, or between a CCIV and the members of a sub-fund or any class of them, the…
Section 1235D — Persons not to be appointed to administer compromise or arrangement
Subsection 411(7) has effect in relation to a CCIV as if the persons referred to in that subsection included a person who holds money or property of the CCIV.
Section 1235E — Provisions for facilitating reconstruction and amalgamation of sub-funds within a CCIV
(1) If: (a) a compromise or arrangement is proposed for the purposes of, or in connection with, a scheme for the reconstruction of a sub-fund or sub-funds or the amalgamation of 2 or more sub-funds;…
Section 1235F — Court may make order in relation to assets and liabilities of sub-funds
If a Court approves a compromise or arrangement between a CCIV and the creditors of a sub-fund or any class of them, or between a CCIV and the members of a sub-fund or any class of them, the Court…
Section 1236 — Object of this Division
The object of this Division is to preserve the segregated application of assets of sub-funds by requiring appointments of controllers to be made separately in respect of the property of each sub-fund…