CORPORATIONS ACT 2001 - SECT 1237E Statutory demand--creditor may serve demand on CCIV

CORPORATIONS ACT 2001 - SECT 1237E

  (1)   A person may serve a statutory demand on a CCIV under section   459E.

  (2)   However, subsection   459E(2) applies to a statutory demand served on a CCIV as if it also required the demand to specify, in relation to each debt to which the demand relates:

  (a)   the sub - fund or sub - funds of the CCIV of which the debt is a liability; and

  (b)   if the debt is a liability of 2 or more sub - funds of the CCIV--the proportion of the debt allocated to each sub - fund at the time the demand is served.

  (3)   Whether a CCIV has failed to comply with a statutory demand is determined under section   459F. If the CCIV has failed to comply with a statutory demand, the failure affects each sub - fund specified in the demand.

Note:   The sub - funds specified may be affected by a variation made by the Court under subsection   1237H(3).