Corporations Act 2001
CHAPTER 5C
-
MANAGED INVESTMENT SCHEMES
PART 5C.6
-
MEMBERS' RIGHTS TO WITHDRAW FROM A SCHEME
SECTION 601KE
NON-LIQUID SCHEMES
-
RESPONSIBLE ENTITY MAY CANCEL WITHDRAWAL OFFER
601KE(1)
[
Cancellation of offer]
(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) [ Method of cancellation]
(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) [ Lodgment with ASIC]
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) [ Method of cancellation]
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) [ Lodgment with ASIC]
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.