CORPORATIONS ACT 2001 - SECT 1233B Sub - funds to be operated as separate businesses

CORPORATIONS ACT 2001 - SECT 1233B

  (1)   A part of the business of a CCIV must not be operated if it is not registered as a sub - fund.

  (2)   A part of the business of a CCIV that is registered as a sub - fund must be operated as a separate business from the business of any other sub - fund of the CCIV.

Requirement for corporate director to operate sub - funds as separate businesses

  (3)   The corporate director of a CCIV contravenes this subsection if:

  (a)   the corporate director operates a part of the business of the CCIV; and

  (b)   the operation contravenes subsection   (1) or (2).

Fault - based offence

  (4)   A person commits an offence if the person contravenes subsection   (3).

Strict liability offence

  (5)   A person commits an offence of strict liability if the person contravenes subsection   (3).