Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1237b
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1237B
Character Range: 232496–235097

1237B  Applying winding up provisions to sub‑funds
 (1) An application to wind up a sub‑fund of a CCIV, and the winding up of a sub‑fund of a CCIV, are regulated:
 (a) by the provisions of this Division; and
 (b) by the winding up provisions referred to in subsection (2), applying, so far as they are capable of so doing, subject to:
 (i) such modifications as are set out in this Division; and
 (ii) such other modifications as are made necessary by the fact that the provisions are applying to a sub‑fund instead of to a company.

Winding up provisions
 (2) The provisions (the winding up provisions) are as follows:
 (a) sections 53 and 91, paragraph 233(1)(a), Parts 5.4, 5.4A, 5.4B, 5.5 and 5.6, Divisions 2 and 2A of Part 5.7B and Schedule 2 (other than a provision excluded by subsection (3));
 (b) the other provisions of the Corporations legislation (other than a provision excluded by subsection (3)) to the extent to which they relate to the operation of the provisions referred to in paragraph (a).
Note 1: Parts 5.8 and 5.9 also apply to CCIVs with modifications: see Divisions 8 and 9 of this Part.
Note 2: Part 5.4C does not apply to CCIVs or sub‑funds of CCIVs.
 (3) For the purposes of subsection (2), the provisions excluded from the winding up provisions are as follows:
 (a) section 459T;
 (b) Subdivision B of Division 3 of Part 5.5 (about simplified liquidation process);
 (c) Division 8 of Part 5.6 (about pooling);
 (d) a provision prescribed by regulations made for the purposes of this paragraph.

Translation rules
 (4) In the application of the winding up provisions, those provisions apply as if the substitutions set out in the following table were made.

Substitutions to be made
Item                      Column 1                                                                                                                                                                                                                                                                                                                                                                                                        Column 2
                          If the provision …                                                                                                                                                                                                                                                                                                                                                                                              substitute a reference to …