Corporations Act 2001
CHAPTER 8B
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CORPORATE COLLECTIVE INVESTMENT VEHICLES
PART 8B.6
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EXTERNAL ADMINISTRATION AND DEREGISTRATION
Division 5
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Winding up of sub funds
Subdivision F
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Proof and ranking of claims
SECTION 1237Y
1237Y
APPLICATION OF SUB-FUND PROPERTY
If a sub-fund of a CCIV is being wound up, the assets of the sub-fund may be applied for the purposes of paying debts and claims that, under section 556 as it applies in relation to the winding up of the sub-fund, must be paid in priority to all other unsecured debts and claims.
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 8B.6 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (CCIV Auditors) Instrument 2024/668.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 8B.6, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
If a sub-fund of a CCIV is being wound up, the assets of the sub-fund may be applied for the purposes of paying debts and claims that, under section 556 as it applies in relation to the winding up of the sub-fund, must be paid in priority to all other unsecured debts and claims.
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