Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The liquidator of a sub - fund must determine that the whole or a part of a debt of the CCIV is not admissible to proof against the sub - fund if the liquidator is satisfied that the debt or the part of the debt (as the case requires) is not a liability of the sub - fund.
(2) Such a determination does not have the effect of extinguishing the debt or the part of the debt.