Section 1238E — Corporations Act 2001: Interpretation of ceased to carry on business

(1) For the purposes of Part 5.8, a sub-fund is taken to have ceased to carry on business only if: (a) 2 months have passed since a notice under subsection 1239(5) (about voluntary deregistration of a sub-fund) relating to the sub-fund was published and ASIC has not been informed that the part of the business of the CCIV that is registered as the sub-fund is being carried on; or (b) ASIC has published a notice under subsection 1239B(1) (about ASIC initiated deregistration of a sub-fund) relating to the sub-fund. (2) Subsection 589(3) does not apply to determine when a sub-fund of a CCIV is taken to have ceased to carry on business.