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CORPORATIONS ACT 2001 - SECT 53AAA

Affairs of a 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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