CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 5C - MANAGED INVESTMENT SCHEMES
History
Chapter 5C inserted by No 62 of 1998, Sch 1 (effective
1 July 1998).
PART 5C.6 - MEMBERS' RIGHTS TO WITHDRAW FROM A SCHEME
History
Part 5C.6 inserted by No 62 of 1998, Sch 1 (effective
1 July 1998).
SECTION 601KE
NON-LIQUID SCHEMES - RESPONSIBLE ENTITY MAY CANCEL WITHDRAWAL OFFER
601KE(1)
[Cancellation of offer]
The responsible entity of a registered scheme that is not liquid:
(a)
may cancel a withdrawal offer before it closes if the offer contains a material error; or
(b)
must cancel a withdrawal offer before it closes if it is in the best interests of members to do so.
History
S 601KE(1) inserted by No 62 of 1998, Sch 1 (effective 1 July 1998).
601KE(2)
[Method of cancellation]
The cancellation must be made:
(a)
if the constitution specifies procedures for cancelling the withdrawal offer - in accordance with those procedures; or
(b)
otherwise - by notice in writing to the members to whom the withdrawal offer was made.
History
S 601KE(2) inserted by No 62 of 1998, Sch 1 (effective 1 July 1998).
601KE(3)
[Lodgment with ASIC]
The responsible entity must lodge written notice of the cancellation with ASIC.
History
S 601KE(3) amended by No 54 of 1998, Sch 6, Pt 2 (effective 1 July 1998).
S 601KE(3) inserted by No 62 of 1998, Sch 1 (effective 1 July 1998).
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