Section 1237Y — Corporations Act 2001 (Cth)

If a sub‑fund of a CCIV is being wound up, the assets of the sub‑fund may be applied for the purposes of paying debts and claims that, under section 556 as it applies in relation to the winding up of the sub‑fund, must be paid in priority to all other unsecured debts and claims.

Related sections

• s 1237V — Court may make order imposing liability on unlicensed person operating CCIV
• 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 1237Z — Warrant in relation to books
• s 1237ZA — Presumptions to be made in recovery proceedings
• s 1237ZB — Directors of the corporate director

Research how courts apply s 1237Y

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.