Section 1237V — Corporations Act 2001 (Cth)

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.

Related sections

• s 1237S — Corporate director may access certain books
• s 1237T — Corporate director may direct ASIC not to destroy books
• s 1237U — Mandatory examination
• s 1237W — Liquidator must be satisfied debt or claim is a liability of the sub‑fund
• s 1237X — Determination of debts and claims that relate to the business of 2 or more sub‑funds and are of uncertain value
• s 1237Y — Application of sub‑fund property

Research how courts apply s 1237V

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