CORPORATIONS ACT 2001 - SECT 1237V Court may make order imposing liability on unlicensed person operating CCIV
CORPORATIONS ACT 2001 - SECT 1237V
Court may make order imposing liability on unlicensed person operating CCIV(a) a sub - fund of a CCIV is being wound up; and
(b) within the period of 4 years ending before the relation - back day, a person not meeting the requirements in subsection 1224F(1) for the director of a CCIV operated the business and conducted the affairs of the CCIV;
the Court may, on the application of the sub - fund's liquidator, order
that the person is personally liable for so much of the sub - fund's debts
and liabilities as does not exceed an amount specified in the order.