Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1237v
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1237V
Character Range: 254911–255528

1237V  Court may make order imposing liability on unlicensed person operating CCIV
  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.

Subdivision F—Proof and ranking of claims