CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.6 - EXEMPTIONS AND MODIFICATIONS  

SECTION 340A   EXEMPTION ORDERS - NOTIFIED FOREIGN PASSPORT FUNDS  

340A(1)  
On an application made in accordance with subsection (3) in relation to a notified foreign passport fund, ASIC may make an order, in writing, relieving any of the following from all or specified requirements of Part 2M.3 :


(a) a notified foreign passport fund;


(b) the operator of a notified foreign passport fund;


(c) directors of the operator of a notified foreign passport fund.

Note: For the criteria for making orders under this section, see section 342 .

340A(2)  
The order may:


(a) be expressed to be subject to conditions; and


(b) be indefinite or limited to a specified period.

340A(3)  
The application must be:


(a) authorised by the operator of the notified foreign passport fund; and


(b) in writing; and


(c) lodged with ASIC.

340A(4)  
ASIC must give the applicant written notice of the making, revocation or suspension of the order.


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