Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1233b
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1233B
Character Range: 5143652–5144599

1233B  Sub‑funds to be operated as separate businesses
 (1) A part of the business of a CCIV must not be operated if it is not registered as a sub‑fund.
 (2) A part of the business of a CCIV that is registered as a sub‑fund must be operated as a separate business from the business of any other sub‑fund of the CCIV.

Requirement for corporate director to operate sub‑funds as separate businesses
 (3) The corporate director of a CCIV contravenes this subsection if:
 (a) the corporate director operates a part of the business of the CCIV; and
 (b) the operation contravenes subsection (1) or (2).

Fault‑based offence
 (4) A person commits an offence if the person contravenes subsection (3).

Strict liability offence
 (5) A person commits an offence of strict liability if the person contravenes subsection (3).

Division 3—Requirement for assets and liabilities to be allocated between sub‑funds

Subdivision A—The CCIV's allocation register