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CORPORATIONS ACT 2001 - SECT 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 may be kept on computer (see section 1306).

Strict liability offence

             (2)  A person commits an offence of strict liability if the person contravenes subsection (1).

Corporate director must maintain allocation register during liquidation

             (3)  For the purposes of section 1224Q (about exercise of powers while sub-fund in liquidation), the maintenance of the allocation register is a function the corporate director is required by this section to perform even when one or more, or all, of the sub-funds of the CCIV are being wound up.

Note:          However, the corporate director may not make allocation determinations in relation to assets and liabilities while all the sub-funds are being wound up: see subsections 1233J(7) and 1233M(7).



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