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]  

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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