Corporations Act 2001
Modifying legislative instruments: The application of Ch 5C is affected by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Asset Holding Standards for Responsible Entities) Instrument 2024/16.
CCH Note: Division 1 is modified by the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693; and the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.
View history note
Hide history noteCCH Note: Section 601PA is modified by the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693; and the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.
Responsible entity may apply for deregistration
601PA(1)
The responsible entity of the registered scheme may lodge an application for deregistration of the scheme with ASIC.
601PA(2)
The responsible entity may only apply if: (a) the scheme:
(i) has 20 or less members (calculated in accordance with subsection 601ED(4) ) and all the members agree that the scheme should be deregistered; and
(b) because of subsection 601ED(2) (exemption based on Division 2 of Part 7.9 not applying), the scheme is not required to be registered and all the members agree that the scheme should be deregistered; or (c) the scheme is not a managed investment scheme.
(ii) is not required to be registered by paragraph 601ED(1)(b) or (c) ; or
601PA(3)
If ASIC is satisfied that the application complies with subsections (1) and (2) , it must give notice of the proposed deregistration: (a) on the national database; and (b) in the Gazette .
When 2 months have passed since the Gazette notice, ASIC may deregister the scheme.
[ CCH Note 1: S 601PA(3) will be amended by No 69 of 2020, s 3, Sch 1[978], by substituting " deregistration to the Registrar and the responsible entity " all the words after " proposed " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
[ CCH Note 2: S 601PA(3A) and (3B) will be inserted by No 69 of 2020, s 3, Sch 1[979] (effective 1 July 2026 or a day or days to be fixed by Proclamation). S 601PA(3A) and (3B) will read:
601PA(3A)
The Registrar must make a record, of the proposed deregistration, and make the notice available to the public.
601PA(3B)
Two months after the notice is made available, ASIC may deregister the scheme.]
601PA(4)
ASIC must give notice of the deregistration to the applicant.
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