Section 1236L — Corporations Act 2001 (Cth)

(1) Before ASIC destroys, in accordance with subsection 422D(9), books relating to the control of property of a sub‑fund of a CCIV, ASIC must notify the CCIV that it intends to do so.

(2) Despite subsection 422D(9), if:

(a) ASIC retains books under subsection 422D(8) in relation to the control of property 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.

Related sections

• s 1236H — Controller may require reports relating to other sub‑funds if necessary
• s 1236J — Controller may inspect books of CCIV
• s 1236K — Application of sub‑fund property to meet certain priority payments
• s 1236M — Part 5.3A does not apply to a CCIV
• s 1236N — Part 5.3B does not apply to a CCIV
• s 1237 — Object of this Division

Research how courts apply s 1236L

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