CORPORATIONS ACT 2001

CHAPTER 5C - MANAGED INVESTMENT SCHEMES  

PART 5C.9 - WINDING UP  

SECTION 601ND   WINDING UP ORDERED BY COURT  

601ND(1)   [ Court's power]  

The Court may, by order, direct the responsible entity of a registered scheme to wind up the scheme if:


(a) the Court thinks it is just and equitable to make the order; or


(b) within 3 months before the application for the order was made, execution or other process was issued on a judgment, decree or order obtained in a court (whether an Australian court or not) in favour of a creditor of, and against, the responsible entity in its capacity as the scheme's responsible entity and the execution or process has been returned unsatisfied.

601ND(2)   [ Who may apply]  

An order based on paragraph (1)(a) may be made on the application of:


(a) the responsible entity; or


(b) a director of the responsible entity; or


(c) a member of the scheme; or


(d) ASIC.

601ND(3)   [ Creditors]  

An order based on paragraph (1)(b) may be made on the application of a creditor.


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