Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1233q
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1233Q
Character Range: 5163475–5166096

1233Q  Orders the Court can make in relation to assets and liabilities of sub‑funds
 (1) The Court may, on an application under subsection (3), make any orders, and give any directions, that the Court considers appropriate in relation to the assets and liabilities of the sub‑funds of a CCIV, including any of the following:
 (a) an order requiring the corporate director to update or correct the CCIV's allocation register;
 (b) an order declaring that money or property of a CCIV forms part of the assets of a particular sub‑fund of the CCIV;
 (c) an order declaring that a determination made by the corporate director under section 1233J is not operative;
 (d) an order requiring the corporate director to make one or more determinations under section 1233J;
 (e) an order declaring the extent to which the money or property forms part of the assets of each sub‑fund of the CCIV;
 (f) an order declaring that a liability of a CCIV forms part of the liabilities of a particular sub‑fund of the CCIV;
 (g) an order declaring that a determination made by the corporate director under section 1233M (including a determination as varied under section 1233N), is not operative;
 (h) an order requiring the corporate director to make one or more determinations under section 1233M, or to vary a determination under section 1233N;
 (i) an order declaring the extent to which a liability forms part of the liabilities of each sub‑fund of the CCIV at a time.
 (2) The Court may make an order or give directions under subsection (1) if any of the following applies:
 (a) the Court is satisfied a determination made by the corporate director under section 1233J or 1233M (including a determination varied under section 1233N) is not operative;
 (b) the Court is satisfied that the CCIV's allocation register is otherwise incorrect or deficient;
 (c) all of the CCIV's sub‑funds are being wound up.
 (3) An application for an order or directions under subsection (1) may be made by any of the following:
 (a) the corporate director of the CCIV;
 (b) a liquidator of a sub‑fund of the CCIV;
 (c) a controller of property of a sub‑fund of the CCIV.
 (4) If the Court makes an order under paragraph (1)(b), (e) or (i), the corporate director does not have the power under section 1233J, 1233M or 1233N (as the case requires) to make a determination that is inconsistent with the order unless:
 (a) the order states that the corporate director does have the power to make an inconsistent determination; or
 (b) the corporate director first obtains the leave of the Court.

Division 4—Purposes for which sub‑fund assets may be applied