Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

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.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback