Section 1237T — Corporations Act 2001 (Cth)

(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.

Related sections

• s 1237Q — Officers of corporate director to help liquidator
• s 1237R — Corporate director may retain certain books
• s 1237S — Corporate director may access certain books
• s 1237U — Mandatory examination
• s 1237V — Court may make order imposing liability on unlicensed person operating CCIV
• s 1237W — Liquidator must be satisfied debt or claim is a liability of the sub‑fund

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