Corporations Act 2001

CHAPTER 8A - ASIA REGION FUNDS PASSPORT  

PART 8A.7 - DEREGISTRATION AND DENOTIFICATION  

Division 2 - Denotification of notified foreign passport funds  

Subdivision C - Process for removal as a notified foreign passport fund  

SECTION 1216J   PROCESS FOR REMOVAL AS A NOTIFIED FOREIGN PASSPORT FUND  

Notice before removal

1216J(1)    
If ASIC proposes to remove a fund as a notified foreign passport fund under section 1216F or 1216H , ASIC must give written notice setting out the date on which ASIC proposes to remove the fund as a notified foreign passport fund to:

(a) the operator of the fund; and

(b) the home regulator for the fund and each other host regulator for the fund.

1216J(2)    
The notice must be given at least 5 business days before the fund is removed.

Removing the fund as a notified foreign passport fund

1216J(3)    
The fund is removed as a notified foreign passport fund by including an annotation on the Register of Passport Funds to that effect. The fund ceases to be a notified foreign passport fund on the day on which the annotation is made.

Notice of removal

1216J(4)    
If ASIC removes a fund as a notified foreign passport fund under section 1216F or 1216H , ASIC must give written notice that the fund has been removed and of the date of removal to:

(a) the operator of the fund; and

(b) the home regulator for the fund and each other host regulator for the fund.

1216J(5)    
The notice must be given within 5 business days after the fund is removed.