Document ID: chunk:federal_register_of_legislation:F2022C00514:reg:11e
Version: federal_register_of_legislation:F2022C00514
Segment Type: reg
Provision Reference: reg 11E
Character Range: 38362–39334

11E  Winding up of Investment Division
 (1) This rule applies if CSC decides to wind up an Investment Division.
 (2) Before winding up the Investment Division, CSC must:
 (a) decide on the how units in the Investment Division held in accounts of a unitised member will be transferred to other Investment Divisions in the absence of a transfer application from the member; and
 (b) give each unitised member notice under rule 11ZB; and
 (c) if no transfer application is received by the member before the Investment Division is wound up, transfer the units in accordance with the decision under paragraph (a).
 (3) CSC must:
 (a) sell the assets of the Investment Division, make the necessary deductions from the proceeds of the sale to pay the debts of the Investment Division and transfer the remainder of the proceeds to another Investment Division; or
 (b) reallocate the assets of the Investment Division to another Investment Division in accordance with Division 4.