CORPORATIONS ACT 2001 - SECT 1232 Application of Chapter 2M to CCIVs

CORPORATIONS ACT 2001 - SECT 1232

Application of Chapter   2M to retail CCIVs

  (1)   Subject to the modifications set out in this Division, Chapter   2M (about financial 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.