Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteThe Reserve Bank may apply under section 459P to the Court for an order that a body corporate be wound up in insolvency if: (a) a condition in section 831A is satisfied in relation to a CS facility licensee; and (b) the body corporate:
(i) is the CS facility licensee; or
(ii) is a related body corporate of the CS facility licensee and is incorporated in Australia; or
(c) the Reserve Bank considers that the body corporate is insolvent and could not be restored to solvency within a reasonable period.
(iii) was a related body corporate of the CS facility licensee before a transfer of business or shares under this Part and is incorporated in Australia; and
849AA(2)
If the Reserve Bank makes an application under section 459P , the Reserve Bank must inform ASIC of the application as soon as possible.
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