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)    
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.



 

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