Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.6 - EXTERNAL ADMINISTRATION AND DEREGISTRATION  

Division 9 - Deregistration and transfer of registration  

Subdivision A - Deregistration  

SECTION 1239E  

1239E   THE COMMONWEALTH ' S AND ASIC ' S POWER TO FULFIL OUTSTANDING OBLIGATIONS IN RELATION TO DEREGISTERED SUB-FUND  

The Commonwealth or ASIC may do an act on behalf of the CCIV of a deregistered sub-fund or the liquidator of the sub-fund if the Commonwealth or ASIC is satisfied that the CCIV or liquidator would be bound to do the act if the sub-fund had not been deregistered.

Note: This power is a general one and is not limited to acts in relation to property vested in the Commonwealth under subsection 601AD(1A) , or ASIC under subsection 601AD(2) . The Commonwealth or ASIC has all the powers that automatically flow from the vesting of property under that subsection (see subsections 601AD(3A) and (4) ) and may exercise those powers whether or not the CCIV was bound to do so.