Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1237g
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1237G
Character Range: 244076–244949

1237G  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.