Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subsections 601AD(1A) to (4) and section 601AE apply in relation to the deregistration of a sub - fund of a CCIV.
Note: Subsection 601AD(1) does not apply in relation to the deregistration of a sub - fund of a CCIV. The CCIV will continue to exist until the CCIV itself is deregistered.
(2) Those provisions apply as if a reference to property were instead a reference to property of the sub - fund.
Note: For references to property of a sub - fund, see subsection 51F(3).
(3) If a sub - fund of a CCIV is deregistered, the CCIV must keep the CCIV's books that relate to the sub - fund (other than books that a liquidator has to keep under subsection 70 - 35(1) of Schedule 2) for 3 years after the deregistration.
Note: If the CCIV itself is deregistered, the corporate director of the CCIV immediately before it is deregistered is required to retain all books of the CCIV including these books: see section 1239L.
(4) An offence based on subsection (3) is an offence of strict liability.
Consequences of deregistration on status as an Australian passport fund
(5) If:
(a) a sub - fund of a CCIV is deregistered; and
(b) the sub - fund was an Australian passport fund;
ASIC must annotate the Register of Passport Funds to indicate that the sub - fund is no longer an Australian passport fund, or cause that annotation to be made on the Register.