Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1239d
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1239D
Character Range: 286545–287968

1239D  Effect of deregistration of a sub‑fund

Effect on assets of the CCIV
 (1) Subsections 601AD(1A) to (4) and section 601AE apply in relation to the deregistration of a sub‑fund of a CCIV.
Note: Subsection 601AD(1) does not apply in relation to the deregistration of a sub‑fund of a CCIV. The CCIV will continue to exist until the CCIV itself is deregistered.
 (2) Those provisions apply as if a reference to property were instead a reference to property of the sub‑fund.
Note: For references to property of a sub‑fund, see subsection 51F(3).

Books
 (3) If a sub‑fund of a CCIV is deregistered, the CCIV must keep the CCIV's books that relate to the sub‑fund (other than books that a liquidator has to keep under subsection 70‑35(1) of Schedule 2) for 3 years after the deregistration.
Note: If the CCIV itself is deregistered, the corporate director of the CCIV immediately before it is deregistered is required to retain all books of the CCIV including these books: see section 1239L.
 (4) An offence based on subsection (3) is an offence of strict liability.

Consequences of deregistration on status as an Australian passport fund
 (5) If:
 (a) a sub‑fund of a CCIV is deregistered; and
 (b) the sub‑fund was an Australian passport fund;
ASIC must annotate the Register of Passport Funds to indicate that the sub‑fund is no longer an Australian passport fund, or cause that annotation to be made on the Register.