Statute
Section 1237Y — Corporations Act 2001: Application of sub-fund property
Text of the provision Official document
If a sub-fund of a CCIV is being wound up, the assets of the sub-fund may be applied for the purposes of paying debts and claims that, under section 556 as it applies in relation to the winding up of the sub-fund, must be paid in priority to all other unsecured debts and claims.
Official source: Federal Register of Legislation
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