CORPORATIONS ACT 2001
CHAPTER 5C
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MANAGED INVESTMENT SCHEMES
PART 5C.6
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MEMBERS' RIGHTS TO WITHDRAW FROM A SCHEME
SECTION 601KE
NON-LIQUID SCHEMES
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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.
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