Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1239e
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1239E
Character Range: 5254366–5255150

1239E  The Commonwealth's and ASIC's power to fulfil outstanding obligations in relation to deregistered sub‑fund
  The Commonwealth or ASIC may do an act on behalf of the CCIV of a deregistered sub‑fund or the liquidator of the sub‑fund if the Commonwealth or ASIC is satisfied that the CCIV or liquidator would be bound to do the act if the sub‑fund had not been deregistered.
Note: This power is a general one and is not limited to acts in relation to property vested in the Commonwealth under subsection 601AD(1A), or ASIC under subsection 601AD(2). The Commonwealth or ASIC has all the powers that automatically flow from the vesting of property under that subsection (see subsections 601AD(3A) and (4)) and may exercise those powers whether or not the CCIV was bound to do so.