Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1237t
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1237T
Character Range: 253908–254592

1237T  Corporate director may direct ASIC not to destroy books
 (1) Before ASIC destroys, in accordance with subsection 70‑31(9) of Schedule 2, books relating to the winding up of a sub‑fund of a CCIV, ASIC must notify the CCIV that it intends to do so.
 (2) Despite subsection 70‑31(9) of Schedule 2, if:
 (a) ASIC retains books under subsection 70‑31(8) of Schedule 2 in relation to the winding up of a sub‑fund of a CCIV; and
 (b) the retention period mentioned in that subsection ends; and
 (c) the CCIV, by resolution of the corporate director, directs ASIC not to destroy the books;
ASIC must, as soon as practicable, transfer possession or control of those books to the CCIV.