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CORPORATIONS ACT 2001 - SECT 53AAA

Meaning of affairs --CCIV

  (1)   For the purposes of the provisions referred to in subsection   (3), the affairs of a body corporate that is a CCIV include anything that would be included in the affairs of a body corporate under section   53.

  (2)   In applying paragraph   53(d) to the CCIV:

  (a)   disregard subparagraphs   (ii) and (iia); and

  (b)   treat the reference in subparagraph   (iv) to the body as instead being a reference to a sub - fund of the CCIV; and

  (c)   treat the reference to a liquidator or provisional liquidator of the body as instead being a reference to a liquidator or provisional liquidator of a sub - fund of the CCIV.

  (3)   The provisions for subsection   (1) are the following:

  (a)   a provision referred to in section   53;

  (b)   a provision prescribed for the purposes of section   53;

  (c)   section   1222 (about requirements for registration as a CCIV);

  (d)   section   1224F (about who can be the director of a CCIV);

  (e)   section   1224J (about corporate director must operate the CCIV);

  (f)   section   1237V (about Court order imposing liability on unlicensed person operating CCIV);

  (g)   section   1241C (about extra kinds of financial services relating to CCIVs);

  (h)   section   1241E (about when conduct does not constitute providing a custodial or depository service in relation to a CCIV);

  (i)   section   1241F (about Australian financial services licences to conduct the affairs of a CCIV);

  (j)   section   1241L (about financial services disclosure does not apply to conducting the affairs of CCIVs);

  (k)   a provision of this Act prescribed by the regulations for the purposes of this paragraph.


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