Corporations Act 2001
CHAPTER 5C
-
MANAGED INVESTMENT SCHEMES
PART 5C.2
-
THE RESPONSIBLE ENTITY
Division 1
-
Responsibilities and powers
SECTION 601FF
SURVEILLANCE CHECKS BY ASIC
601FF(1)
[
ASIC checks]
ASIC may, from time to time, check whether the responsible entity of a registered scheme is complying with the scheme's constitution and compliance plan and with this Act.
Note: For this purpose ASIC may exercise the powers set out in Division 3 of Part 3 of the ASIC Act.
601FF(2) [ Assistance]The responsible entity and its officers must take all reasonable steps to assist ASIC in carrying out a check under subsection (1).
601FF(3) [ Failure to comply]A person must not intentionally or recklessly fail to comply with subsection (2).
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.