Trees growing on grower allotments in managed investment schemes constitute 'scheme property' under s 9 of the Corporations Act 2001 as property derived from grower contributions, regardless of narrower definitions in scheme constitutions that purport to exclude them. Winding up of a managed investment scheme is a process, not an event — scheme documents including grower leases do not automatically terminate upon the making of a winding up order, but may be terminated by the scheme liquidator upon notice during the winding up process. Receivers and managers of a responsible entity have standing to bring a winding up application under s 601ND(1)(a) in the name of the responsible entity where the business of the responsible entity forms part of the charged undertaking.
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