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CORPORATIONS ACT 2001 - SECT 1237T

Corporate director may direct ASIC not to destroy books

  (1)   Before ASIC destroys, in accordance with subsection   70 - 31(9) of Schedule   2, books relating to the winding up of a sub - fund of a CCIV, ASIC must notify the CCIV that it intends to do so.

  (2)   Despite subsection   70 - 31(9) of Schedule   2, if:

  (a)   ASIC retains books under subsection   70 - 31(8) of Schedule   2 in relation to the winding up of a sub - fund of a CCIV; and

  (b)   the retention period mentioned in that subsection ends; and

  (c)   the CCIV, by resolution of the corporate director, directs ASIC not to destroy the books;

ASIC must, as soon as practicable, transfer possession or control of those books to the CCIV.


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