Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1234b
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1234B
Character Range: 201841–202992

1234B  Purposes for which sub‑fund assets may be applied
  This section covers the following purposes:
 (a) meeting liabilities of the sub‑fund;
 (b) carrying on the business of the sub‑fund;
 (c) paying a dividend to members of the sub‑fund;
 (d) providing consideration to a member of the sub‑fund in respect of a reduction of share capital affecting the sub‑fund;
 (e) redeeming redeemable shares or redeemable preference shares that are referable to the sub‑fund;
 (f) making a payment covered by section 1237Y (about winding up);
 (g) making a payment covered by section 1236K (about certain priority payments by a receiver);
 (h) complying with a compromise or arrangement relating to the sub‑fund and approved by the Court under paragraph 411(4)(b), or an order made under section 413 in relation to such a compromise or arrangement;
 (i) making any other distribution to members of the sub‑fund that the CCIV is permitted by this Act and its constitution to make;
 (j) a purpose prescribed by regulations made for the purposes of this paragraph.
Note: The assets may also be applied in accordance with a court order: see subsection 1234E(2).