Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1232s
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1232S
Character Range: 5140698–5141615

1232S  Effect of winding up of sub‑fund on office of auditor

Audit and auditor's report not required to cover a sub‑fund in respect of which a CCIV is being wound up
 (1) An auditor of a CCIV is not required by Division 3 of Part 2M.3, as it applies under subsection 1232G(1), to do a thing in relation to a sub‑fund at a time if the sub‑fund is being wound up at that time.

Auditor ceases to hold office if CCIV is being wound up in respect of all of its sub‑funds
 (2) An auditor of a CCIV ceases to hold office if an event mentioned in subsection (3) has occurred in relation to each sub‑fund of the CCIV.
 (3) The events are as follows:
 (a) a special resolution is passed for the voluntary winding up of a sub‑fund of the CCIV;
 (b) an order is made by the Court for the winding up of a sub‑fund of the CCIV.
 (4) Section 330 does not apply to a CCIV.

Subdivision G—Sanctions for contravention of Chapter 2M