Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1231n
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1231N
Character Range: 157800–158430

1231N  Debentures can only be issued in respect of sub‑funds
 (1) A CCIV can issue a debenture only if the debenture holder's rights in respect of assets of the CCIV are restricted to rights in respect of the assets of one (and only one) sub‑fund of the CCIV. This is the sub‑fund to which the debenture is referable.
 (2) Subsection (1) limits paragraph 124(1)(b) in relation to a CCIV.
 (3) If a security interest is included in or created by a debenture or the trust deed required by section 283AB, the security interest must not be over property of the CCIV that forms part of the assets of a different sub‑fund of the CCIV.