Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 1237V

Court may make order imposing liability on unlicensed person operating CCIV

                   Where:

                     (a)  a sub-fund of a CCIV is being wound up; and

                     (b)  within the period of 4 years ending before the relation-back day, a person not meeting the requirements in subsection 1224F(1) for the director of a CCIV operated the business and conducted the affairs of the CCIV;

the Court may, on the application of the sub-fund's liquidator, order that the person is personally liable for so much of the sub-fund's debts and liabilities as does not exceed an amount specified in the order.



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