Corporations Act 2001
The liabilities of a sub-fund of a CCIV must be clearly identified in the allocation register as liabilities of the sub-fund.
1233E(2)
If section 1233M (about liabilities allocated to 2 or more sub-funds) applies to a liability of a CCIV: (a) the liability must be clearly identified in the allocation register as a liability to which that section applies; and (b) the proportion of the liability applicable to each sub-fund under subsection 1233L(2) must be clearly identified in the allocation register as the proportion applicable to the sub-fund.
1233E(3)
The corporate director must make entries in the allocation register as required in order to ensure the allocation register makes the identifications required by subsections (1) and (2) .
1233E(4)
An entry required by subsection (3) must be made within: (a) for a case where a liability arises - 5 business days after the liability arises; or (b) for a case where a liability is discharged, or otherwise ceases to be a liability of the sub-fund - 5 business days after the discharge or cessation.
Note: For the liabilities of a CCIV, and when they arise, see section 1233A .
Fault-based offence
1233E(5)
A person commits an offence if: (a) the person is subject to a requirement under subsection (3) ; and (b) the person fails to comply with the requirement.
Strict liability offence
1233E(6)
A person commits an offence of strict liability if the person contravenes subsection (3) .
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