Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 1238B

References to incurring debts

    For the purposes of the application of the property recovery provisions, as those provisions apply subject to item   1 of the table in subsection   1238A(4), a sub - fund is taken to incur a debt if:

  (a)   the CCIV incurs the debt; and

  (b)   the debt is, to any extent, a liability of the sub - fund.

The sub - fund incurs the debt at the time the CCIV incurs the debt.


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