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CORPORATIONS ACT 2001 - SECT 1229D

Corporate director generally taken to commit offences committed by CCIV

             (1)  This section applies if:

                     (a)  a CCIV commits an offence against a law of the Commonwealth; and

                     (b)  the conduct constituting the offence was not engaged in by the CCIV solely as a result of an exercise of powers by:

                              (i)  a liquidator or provisional liquidator of a sub-fund of the CCIV; or

                             (ii)  a receiver, or receiver and manager, of the property of a sub-fund of the CCIV; or

                            (iii)  a trustee or other person administering a compromise or arrangement made between the CCIV and someone else.

Corporate director taken to also commit the offence

             (2)  The person who was the corporate director of the CCIV at the time of the commission of the offence is taken to also commit the offence.

             (3)  To avoid doubt, despite subsection 13.3(3) of the Criminal Code , a person referred to in subsection (2) does not bear an evidential burden in relation to any matter in subsection (1) of this section.

CCIV not liable for any penalty

             (4)  The CCIV is not liable for any penalty in respect of the offence.

Infringement notices

             (5)  If, as a result of the operation of subsection (2), an infringement notice (however described) may be given under a law of the Commonwealth to a person who was the corporate director of a CCIV for an alleged commission of an offence by the person:

                     (a)  the person may be given the infringement notice; and

                     (b)  the CCIV may not be given an infringement notice for the alleged commission of the offence.



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