Section 1239E — Corporations Act 2001 (Cth)

The Commonwealth or ASIC may do an act on behalf of the CCIV of a deregistered sub‑fund or the liquidator of the sub‑fund if the Commonwealth or ASIC is satisfied that the CCIV or liquidator would be bound to do the act if the sub‑fund had not been deregistered.

Note: This power is a general one and is not limited to acts in relation to property vested in the Commonwealth under subsection 601AD(1A), or ASIC under subsection 601AD(2). The Commonwealth or ASIC has all the powers that automatically flow from the vesting of property under that subsection (see subsections 601AD(3A) and (4)) and may exercise those powers whether or not the CCIV was bound to do so.

Related sections

• s 1239B — Process for ASIC initiated deregistration of a sub‑fund
• s 1239C — Deregistration of a sub‑fund—following amalgamation or winding up
• s 1239D — Effect of deregistration of a sub‑fund
• s 1239F — Claims against insurers in relation to deregistered sub‑fund
• s 1239G — Reinstatement of a sub‑fund
• s 1239H — CCIV reinstated following reinstatement of a sub‑fund

Research how courts apply s 1239E

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