Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.6 - EXTERNAL ADMINISTRATION AND DEREGISTRATION  

Division 5 - Winding up of sub funds  

Subdivision C - Winding up of a sub-fund in insolvency  

SECTION 1237E   STATUTORY DEMAND - CREDITOR MAY SERVE DEMAND ON CCIV  

1237E(1)    
A person may serve a statutory demand on a CCIV under section 459E .

1237E(2)    
However, subsection 459E(2) applies to a statutory demand served on a CCIV as if it also required the demand to specify, in relation to each debt to which the demand relates:

(a)    the sub-fund or sub-funds of the CCIV of which the debt is a liability; and

(b)    if the debt is a liability of 2 or more sub-funds of the CCIV - the proportion of the debt allocated to each sub-fund at the time the demand is served.

1237E(3)    
Whether a CCIV has failed to comply with a statutory demand is determined under section 459F . If the CCIV has failed to comply with a statutory demand, the failure affects each sub-fund specified in the demand.

Note: The sub-funds specified may be affected by a variation made by the Court under subsection 1237H(3) .