Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.6 - EXTERNAL ADMINISTRATION AND DEREGISTRATION  

Division 2 - Arrangements and reconstructions of sub-funds  

SECTION 1235B  

1235B   COMPROMISES ETC. NOT TO BE MADE BETWEEN 2 OR MORE SUB-FUNDS  

The Court may not approve a compromise or arrangement between a CCIV and:

(a)    the creditors of 2 or more sub-funds of a CCIV; or

(b)    the members of 2 or more sub-funds of a CCIV.

Note: However, the Court may approve a further compromise or arrangement between the CCIV and another sub-fund. If this is done as part of a scheme for the amalgamation or reconstruction of a sub-fund or sub-funds, the Court may make appropriate orders: see section 1235E .