Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.6 - EXTERNAL ADMINISTRATION AND DEREGISTRATION  

Division 7 - External administration offences  

SECTION 1238E   INTERPRETATION OF CEASED TO CARRY ON BUSINESS  

1238E(1)    
For the purposes of Part 5.8 , a sub-fund is taken to have ceased to carry on business only if:

(a)    2 months have passed since a notice under subsection 1239(5) (about voluntary deregistration of a sub-fund) relating to the sub-fund was published and ASIC has not been informed that the part of the business of the CCIV that is registered as the sub-fund is being carried on; or

(b)    ASIC has published a notice under subsection 1239B(1) (about ASIC initiated deregistration of a sub-fund) relating to the sub-fund.

1238E(2)    
Subsection 589(3) does not apply to determine when a sub-fund of a CCIV is taken to have ceased to carry on business.