601EE
In forceUnregistered schemes may be wound up
Volume 3Chapter 5A, Part 5A.1 to Chapter 6D, Part 6D.5 sections 601 to 742
Chapter 5CManaged investment schemes
Part 5C.1Registration of managed investment schemes
601EE Unregistered schemes may be wound up
(1)
If a person operates a managed investment scheme in contravention of subsection 601ED(5), the following may apply to the Court to have the scheme wound up:
(a)
ASIC;
(b)
the person operating the scheme;
(c)
a member of the scheme.
(2)
The Court may make any orders it considers appropriate for the winding up of the scheme.
This Act’s bill:Explanatory memorandumSecond reading speech
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