Commonwealth Consolidated Acts Commonwealth Consolidated ActsWhere:
(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.