Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 - SECT 1231N

Debentures can only be issued in respect of sub - funds

  (1)   A CCIV can issue a debenture only if the debenture holder's rights in respect of assets of the CCIV are restricted to rights in respect of the assets of one (and only one) sub - fund of the CCIV. This is the sub - fund to which the debenture is referable .

  (2)   Subsection   (1) limits paragraph   124(1)(b) in relation to a CCIV.

  (3)   If a security interest is included in or created by a debenture or the trust deed required by section   283AB, the security interest must not be over property of the CCIV that forms part of the assets of a different sub - fund of the CCIV.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback