Section 1232 — Corporations Act 2001 (Cth)

Application of Chapter 2M to retail CCIVs

(1) Subject to the modifications set out in this Division, Chapter 2M (about financial reports, sustainability reports and audit) applies to a retail CCIV as if:

(a) references in that Chapter to the directors of, or a director of, the company were instead references to the corporate director of the CCIV; and

(b) references in that Chapter to a resolution of the directors of the company were instead references to a resolution of the corporate director, passed as director of the CCIV.

Note: Section 1228 deals with directors’ resolutions for CCIVs.

Application of Part 2M.2 to wholesale CCIVs

(2) Subject to the modifications set out in Subdivision B of this Division, Part 2M.2 (about financial records) applies to a wholesale CCIV as if references in that Part to the directors of, or a director of, the company were instead references to the corporate director of the CCIV.

Part 2M.3 does not apply to wholesale CCIVs

(3) Part 2M.3 (about financial reporting) does not apply to a wholesale CCIV.

Related sections

• s 1231M — Other duties still apply
• s 1231N — Debentures can only be issued in respect of sub‑funds
• s 1231P — Modified operation of section 283AA
• s 1232A — Obligation to keep financial records for sub‑funds
• s 1232B — Access to financial records of CCIVs and sub‑funds
• s 1232C — Annual financial reports, sustainability reports and directors’ reports for sub‑funds—general rules

Research how courts apply s 1232

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