Corporations Act 2001

CHAPTER 8A - ASIA REGION FUNDS PASSPORT  

PART 8A.3 - AUSTRALIAN PASSPORT FUNDS  

SECTION 1212A   REGISTRATION OF AUSTRALIAN PASSPORT FUNDS  

1212A(1)    

ASIC must register a collective investment fund that is a registered scheme or a sub-fund of a retail CCIV as a passport fund if ASIC is of the opinion that:

(a)    

the proposed operator of the fund is an eligible entity , within the meaning of section 3 of Annex 2 of the Memorandum of Cooperation; and

(b)    

each of the following is likely to be complied with in relation to the fund:

(i) this Act (including the Passport Rules for this jurisdiction);

(ii) the ASIC Act.

1212A(2)    

A collective investment fund is registered as a passport fund by ASIC:

(a)    assigning a unique number to the passport fund (the Australian Passport Fund Registration Number or APFRN for the passport fund); and

(b)    ensuring that details of the fund are entered on the Register of Passport Funds.