Corporations Act 2001
CCH Note: Division 2 is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
CCH Note: Subdivision C is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
CCH Note: Section 1224Y is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
This section applies if: (a) a temporary corporate director is appointed by the Court under section 1224V ; and (b) within the period applicable under subsection 1224W(3) , the temporary corporate director calls one or more members ' meetings to consider and vote on a special resolution choosing a company to be the permanent corporate director; and (c) the CCIV ' s members do not pass a special resolution choosing a permanent corporate director.
1224Y(2)
An application to the Court for a winding up of all the sub-funds of the CCIV must be made by the corporate director of the CCIV.
Note: For provisions about winding up a sub-fund of a CCIV, see Division 5 of Part 8B.6 .
1224Y(3)
An application to the Court for a winding up of all the sub-funds of the CCIV may be made by any of the following, if the corporate director does not do so: (a) ASIC; (b) a member, or group of members, of the CCIV.
1224Y(4)
On an application under this section, the Court may: (a) order the winding up of all the sub-funds of the CCIV; and (b) make any further orders that the Court considers appropriate.
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