Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.6 - EXTERNAL ADMINISTRATION AND DEREGISTRATION  

Division 6 - Recovering property of sub funds  

SECTION 1238B  

1238B   REFERENCES TO INCURRING DEBTS  

For the purposes of the application of the property recovery provisions, as those provisions apply subject to item 1 of the table in subsection 1238A(4) , a sub-fund is taken to incur a debt if:

(a)    the CCIV incurs the debt; and

(b)    the debt is, to any extent, a liability of the sub-fund.

The sub-fund incurs the debt at the time the CCIV incurs the debt.