Corporations Act 2001
CHAPTER 5C
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MANAGED INVESTMENT SCHEMES
PART 5C.9
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WINDING UP
SECTION 601NF
OTHER ORDERS ABOUT WINDING UP
601NF(1)
The Court may, by order, appoint a person to take responsibility for ensuring a registered scheme is wound up in accordance with its constitution and any orders under subsection (2) if the Court thinks it necessary to do so (including for the reason that the responsible entity has ceased to exist or is not properly discharging its obligations in relation to the winding up).
601NF(2)
The Court may, by order, give directions about how a registered scheme is to be wound up if the Court thinks it necessary to do so (including for the reason that the provisions in the scheme ' s constitution are inadequate or impracticable).
601NF(3)
An order under subsection (1) or (2) may be made on the application of: (a) the responsible entity; or (b) a director of the responsible entity; or (c) a member of the scheme; or (d) ASIC.
Modifying legislative instruments: The application of Ch 5C is affected by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Asset Holding Standards for Responsible Entities) Instrument 2024/16.
CCH Note: Section 601NF is modified by the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693; and the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.
The Court may, by order, appoint a person to take responsibility for ensuring a registered scheme is wound up in accordance with its constitution and any orders under subsection (2) if the Court thinks it necessary to do so (including for the reason that the responsible entity has ceased to exist or is not properly discharging its obligations in relation to the winding up).
601NF(2)
The Court may, by order, give directions about how a registered scheme is to be wound up if the Court thinks it necessary to do so (including for the reason that the provisions in the scheme ' s constitution are inadequate or impracticable).
601NF(3)
An order under subsection (1) or (2) may be made on the application of: (a) the responsible entity; or (b) a director of the responsible entity; or (c) a member of the scheme; or (d) ASIC.
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