Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.6 - EXTERNAL ADMINISTRATION AND DEREGISTRATION  

Division 5 - Winding up of sub funds  

Subdivision E - Modified duties and powers of officers of corporate director and CCIV  

SECTION 1237V  

1237V   COURT MAY MAKE ORDER IMPOSING LIABILITY ON UNLICENSED PERSON OPERATING CCIV  

Where:

(a)    a sub-fund of a CCIV is being wound up; and

(b)    within the period of 4 years ending before the relation-back day, a person not meeting the requirements in subsection 1224F(1) for the director of a CCIV operated the business and conducted the affairs of the CCIV;

the Court may, on the application of the sub-fund ' s liquidator, order that the person is personally liable for so much of the sub-fund ' s debts and liabilities as does not exceed an amount specified in the order.