Corporations Act 2001
Modifying legislative instruments: The application of Ch 5C is affected by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Asset Holding Standards for Responsible Entities) Instrument 2024/16.
CCH Note: Section 601KE is modified by the ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 2023/668; the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693; and the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.
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.
601KE(2)
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.
601KE(3)
The responsible entity must lodge written notice of the cancellation with ASIC.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.