Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Division 1 of Part 2M.3 applies to a retail CCIV as if:
(a) subsection 292(1) required the CCIV to prepare a financial report for each of its sub - funds for each financial year; and
(b) subsections 292(1) and 298(1) required the CCIV to prepare a directors' report for each of its sub - funds for each financial year.
Note: The CCIV is not required to prepare such reports for the CCIV itself.
(2) The remaining provisions of Division 1 of Part 2M.3 apply in relation to the following documents relating to each sub - fund of the retail CCIV:
(a) a financial report and a directors' report referred to in subsection (1) of this section;
(b) the documents of which the financial report consists under subsection 295(1);
as if the sub - fund were the CCIV.
Note: The combined effect of subsection 1232(1) and this subsection is that references in the remaining provisions of Division 1 of Part 2M.3 to the company are, where appropriate, to be read as referring to the sub - fund.
Example: References in the remaining provisions of Division 1 of Part 2M.3 to a listed company will be read as referring to the sub - fund if the sub - fund is listed (see also paragraph (c) of the definition of listed in section 9).
(3) Without limiting subsection (2), Division 1 of Part 2M.3 so applies as if references in that Division to members (other than references to members of an audit firm) were instead references to members of the sub - fund.
(4) Despite subsection (2), Division 1 of Part 2M.3 applies to the retail CCIV in relation to each of its sub - funds as if:
(a) references in that Division to the officers of, or an officer of, the company were instead references to each of the following:
(ii) an officer of the corporate director of the CCIV; and
(b) despite paragraph 1232(1)(a), references in that Division to the directors of, or a director of, the company were instead references to each of the following:
(i) the corporate director of the CCIV;
(ii) a director of the corporate director of the CCIV.
(5) Subparagraphs (4)(a)(i) and (b)(i) are included for
the avoidance of doubt.