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CORPORATIONS ACT 2001 - SECT 1238E

Interpretation of ceased to carry on business

             (1)  For the purposes of Part 5.8, a sub-fund is taken to have ceased to carry on business only if:

                     (a)  2 months have passed since a notice under subsection 1239(5) (about voluntary deregistration of a sub-fund) relating to the sub-fund was published and ASIC has not been informed that the part of the business of the CCIV that is registered as the sub-fund is being carried on; or

                     (b)  ASIC has published a notice under subsection 1239B(1) (about ASIC initiated deregistration of a sub-fund) relating to the sub-fund.

             (2)  Subsection 589(3) does not apply to determine when a sub-fund of a CCIV is taken to have ceased to carry on business.



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