Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.3 - CORPORATE GOVERNANCE OF CCIVs  

Division 4 - Compliance plan for retail CCIVs  

Subdivision A - Documenting the compliance plan  

SECTION 1226D   CHANGING THE COMPLIANCE PLAN  


Corporate director ' s powers

1226D(1)    
The corporate director of a CCIV may modify the CCIV ' s compliance plan or repeal it and replace it with a new compliance plan.

ASIC may require modifications

1226D(2)    
ASIC may give the corporate director of a retail CCIV a direction, in writing, to modify the CCIV ' s compliance plan, as set out in the direction, to ensure that the plan is consistent with section 1226A . The direction must specify the period (which must be at least 14 days after the direction is given) within which the corporate director must make the modification.

1226D(3)    
The corporate director must comply with the direction within the period specified.

Lodgement of modification or new plan

1226D(4)    
The corporate director must lodge with ASIC a copy of a modification of the CCIV ' s compliance plan or of a new compliance plan within 14 days after the modification is made or the old plan is repealed. The copy must be signed by all the directors of the corporate director.

1226D(5)    
An offence based on subsection (3) or (4) is an offence of strict liability.


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