Commonwealth Consolidated Acts

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Obligation to keep financial records for sub-funds

             (1)  Without limiting the application of subsection 286(1) to the retail or wholesale CCIV, the CCIV must also, for each sub-fund of the CCIV, keep written financial records that:

                     (a)  correctly record and explain the transactions relating to the sub-fund and the financial position and performance of the sub-fund; and

                     (b)  would enable true and fair financial statements to be prepared and audited for the sub-fund; and

                     (c)  comply with any further requirements prescribed by regulations made for the purposes of this paragraph.

Note:          Section 9 defines financial records .

             (2)  The remaining provisions of Part 2M.2 apply in relation to the financial records for the sub-fund as if the sub-fund were the CCIV.

             (3)  This section does not apply if the CCIV has only one sub-fund.

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