THE CORPORATIONS LAW

CHAPTER 5C - MANAGED INVESTMENT SCHEMES

PART 5C.2 - THE RESPONSIBLE ENTITY

Division 2 - Changing the responsible entity

SECTION 601FP   APPOINTMENT OF TEMPORARY RESPONSIBLE ENTITY BY COURT  

601FP(1)  [Temporary responsible entity]  

On application under section 601FL or 601FN, the Court may, by order, appoint a company as the temporary responsible entity of a registered scheme if the Court is satisfied that the appointment is in the interest of the members.

601FP(2)  [Further orders]  

The Court may make any further orders that it considers necessary.

601FP(3)  [Lodgment with ASIC]  

If the application was made by the current responsible entity, it must, as soon as practicable after the Court's order appointing the temporary responsible entity, lodge a notice with ASIC informing ASIC of the appointment made by the Court.

601FP(4)  [Alteration of record]  

As soon as practicable after the appointment, ASIC must alter the record of the scheme's registration to name the appointed company as the scheme's temporary responsible entity.