Corporations Act 2001
CCH Note: Section 601ND is modified by the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693; and the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.
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)
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)
An order based on paragraph (1)(b) may be made on the application of a creditor.
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