Corporations Act 2001
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Hide history noteWhere: (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.
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