This section covers the following purposes:
(a) meeting liabilities of the sub-fund;
(b) carrying on the business of the sub-fund;
(c) paying a dividend to members of the sub-fund;
(d) providing consideration to a member of the sub-fund in respect of a reduction of share capital affecting the sub-fund;
(e) redeeming redeemable shares or redeemable preference shares that are referable to the sub-fund;
(f) making a payment covered by section 1237Y (about winding up);
(g) making a payment covered by section 1236K (about certain priority payments by a receiver);
(h) complying with a compromise or arrangement relating to the sub-fund and approved by the Court under paragraph 411(4)(b), or an order made under section 413 in relation to such a compromise or arrangement;
(i) making any other distribution to members of the sub-fund that the CCIV is permitted by this Act and its constitution to make;
(j) a purpose prescribed by regulations made for the purposes of this paragraph.
Note: The assets may also be applied in accordance with a court order: see subsection 1234E(2).