Corporations Act 2001

CHAPTER 2N - UPDATING ASIC INFORMATION ABOUT COMPANIES, REGISTERED SCHEMES AND NOTIFIED FOREIGN PASSPORT FUNDS  

PART 2N.2 - EXTRACT OF PARTICULARS  

SECTION 346A   ASIC MUST GIVE AN EXTRACT OF PARTICULARS EACH YEAR  

346A(1)    

ASIC must, within 2 weeks after each review date for a company, registered scheme or notified foreign passport fund, give to the company, responsible entity of the scheme or operator of the fund an extract of particulars for the company, scheme or fund.

346A(1A)    
(Repealed by No 141 of 2020, s 3, Sch 4[116] (effective 1 July 2024).)

346A(2)    

ASIC may satisfy subsection (1) by making the extract of particulars available by electronic means to:

(a)    the company, the responsible entity of the scheme or the operator of the fund; or

(b)    an agent of the company, the responsible entity or the operator.

346A(3)    
An extract of particulars must specify the date of issue.

SECTION 346B  

346B   ASIC MAY ASK QUESTIONS  

ASIC may include, in an extract of particulars for a company, registered scheme or notified foreign passport fund, a requirement that the company, responsible entity of the scheme or operator of the fund provide a particular prescribed by the regulations for the purposes of this section.

SECTION 346C   REQUIREMENTS IN RELATION TO AN EXTRACT OF PARTICULARS  

Respond if a particular is incorrect

346C(1)    

A company, a responsible entity of a registered scheme or an operator of a notified foreign passport fund must respond to an extract of particulars that it receives if any particular set out in the extract is not correct as at the date of receipt. The response must comply with subsection (3) .

Respond if required to provide a particular

346C(2)    

A company, a responsible entity of a registered scheme or an operator of a notified foreign passport fund must respond to an extract of particulars that it receives if the extract includes a requirement to provide a particular under section 346B . The response must comply with subsection (3) .

Contents of response

346C(3)    

The response to an extract of particulars by a company, the responsible entity of a registered scheme or the operator of a notified foreign passport fund:

(a)    must be lodged within 28 days after the date of issue of the extract; and

(b)    must be in the prescribed form; and

(c)    must be signed or authenticated; and

(d)    if subsection (1) applies - must be such that the particulars set out in the extract, taken together with the response, are correct as at the date the response is signed or authenticated; and

(e)    if subsection (2) applies - must provide the required particular, correct as at the date the response is signed or authenticated.

Response satisfies other requirements to notify

346C(4)    
If a company responds to an extract of particulars:

(a)    correcting a particular; or

(b)    providing a particular;

in accordance with subsection (3) , any requirement elsewhere in this Act to lodge a prescribed form in relation to the particular is satisfied by the response.

346C(5)    
Subsection (4) does not affect the company ' s liability for late lodgment fees incurred before the response to the extract of particulars is lodged or continuing offences committed before that time.

Strict liability offences

346C(6)    
An offence based on subsection (1) or (2) is an offence of strict liability.

Note: For strict liability , see section 6.1 of the Criminal Code .