Corporations Act 2001
CHAPTER 5D
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LICENSED TRUSTEE COMPANIES
The transferring company must promptly account to the receiving company for any income or other distribution received by the transferring company after a certificate of transfer comes into force, if the income or distribution arises from assets transferred to the receiving company under this Part.
PART 5D.6
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ASIC-APPROVED TRANSFERS OF ESTATE ASSETS AND LIABILITIES
Division 3
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Other matters related to the transfer of estate assets and liabilities
SECTION 601WCF
601WCF
INCOME OR OTHER DISTRIBUTION RECEIVED BY TRANSFERRING COMPANY
The transferring company must promptly account to the receiving company for any income or other distribution received by the transferring company after a certificate of transfer comes into force, if the income or distribution arises from assets transferred to the receiving company under this Part.
Note: Failure to comply with this section is an offence (see subsection 1311(1) ).
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