Statutory demand—determining application to set aside where there is a dispute or offsetting claim
(1) Paragraph 459H(1)(b) applies in relation to a debt to which a demand relates only if the CCIV has an offsetting claim that is an asset of the sub‑fund of which the debt or a proportion of the debt (as the case requires) is a liability. (2) Subsection 459H(2) has effect as if it required the Court to calculate a separate substantiated amount in relation to each sub‑fund specified in the statutory demand. (3) For the purposes of the calculation: (a) the amount of the debt is to be determined having regard only to a debt or a proportion of a debt (as the case requires) that is a liability of the sub‑fund; and (b) the amount of an offsetting claim is to be determined having regard only to so much of an offsetting claim as is an asset of the sub‑fund.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.
Try BriefBridge free