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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