Corporations Act 2001

CHAPTER 8A - ASIA REGION FUNDS PASSPORT  

PART 8A.7 - DEREGISTRATION AND DENOTIFICATION  

Division 1 - Deregistration of Australian passport funds  

Subdivision A - Voluntary deregistration  

SECTION 1216A   ASIC TO DEREGISTER  

1216A(1)    
On an application under section 1216 , ASIC must deregister a fund as an Australian passport fund if ASIC is satisfied that:

(a) there are no members of the fund who became members (whether in this jurisdiction or any host economy for the fund) after the fund became an Australian passport fund; and

(b) there are no members of the fund who became members (whether in this jurisdiction or any host economy for the fund) on the expectation that the fund would become an Australian passport fund.

1216A(2)    
For the purposes of subsection (1) , ignore any member of the fund that:

(a) is, or has at any time been, the operator of the fund; or

(b) is a related party of an entity that is, or has at any time been, the operator of the fund.