Corporations Act 2001

CHAPTER 8A - ASIA REGION FUNDS PASSPORT  

PART 8A.7 - DEREGISTRATION AND DENOTIFICATION  

Division 2 - Denotification of notified foreign passport funds  

Subdivision A - Voluntary denotification  

SECTION 1216F   ASIC TO REMOVE FUND AS A NOTIFIED FOREIGN PASSPORT FUND  

1216F(1)    
On an application under section 1216E , ASIC must remove a fund as a notified foreign passport fund if ASIC is satisfied that:

(a) there are no members of the fund who became members in this jurisdiction after the fund became a notified foreign passport fund; and

(b) there are no members of the fund who became members in this jurisdiction on the expectation that the fund would become a notified foreign passport fund.

1216F(2)    
For the purposes of subsection (1) , ignore any member of the fund that:

(a) is, or has at any time been, the operator of the fund; or

(b) is a related party of an entity that is, or has at any time been, the operator of the fund.