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CORPORATIONS ACT 2001

CHAPTER 5C - MANAGED INVESTMENT SCHEMES  

PART 5C.2 - THE RESPONSIBLE ENTITY  

Division 1 - Responsibilities and powers  

SECTION 601FH  

601FH  LIQUIDATOR ETC. OF RESPONSIBLE ENTITY ENTITLED TO EXERCISE INDEMNITY RIGHTS  

If the company that is a registered scheme's responsible entity is being wound up, is under administration or has executed a deed of company arrangement that has not terminated:


(a) a provision of the scheme's constitution, or of another instrument, is void against the liquidator, or the administrator of the company or the deed, if it purports to deny the company a right to be indemnified out of the scheme property that the company would have had if it were not being wound up, were not under administration, or had not executed a deed of company arrangement; and


(b) a right of the company to be indemnified out of the scheme property may only be exercised by the liquidator or the administrator of the company or the deed.

[CCH Note: The next section is s 601FJ.]


 



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