THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 5C - MANAGED INVESTMENT SCHEMES

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Chapter 5C inserted by No 62 of 1998, Sch 1 (effective 1 July 1998).

PART 5C.6 - MEMBERS' RIGHTS TO WITHDRAW FROM A SCHEME

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Part 5C.6 inserted by No 62 of 1998, Sch 1 (effective 1 July 1998).

SECTION 601KE   NON-LIQUID SCHEMES - RESPONSIBLE ENTITY MAY CANCEL WITHDRAWAL OFFER  

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601KE(1)  [Cancellation of offer]  

The responsible entity of a registered scheme that is not liquid:

(a)  may cancel a withdrawal offer before it closes if the offer contains a material error; or

(b)  must cancel a withdrawal offer before it closes if it is in the best interests of members to do so.

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S 601KE(1) inserted by No 62 of 1998, Sch 1 (effective 1 July 1998).

601KE(2)  [Method of cancellation]  

The cancellation must be made:

(a)  if the constitution specifies procedures for cancelling the withdrawal offer - in accordance with those procedures; or

(b)  otherwise - by notice in writing to the members to whom the withdrawal offer was made.

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S 601KE(2) inserted by No 62 of 1998, Sch 1 (effective 1 July 1998).

601KE(3)  [Lodgment with ASIC]  

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The responsible entity must lodge written notice of the cancellation with ASIC.

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S 601KE(3) amended by No 54 of 1998, Sch 6, Pt 2 (effective 1 July 1998).

S 601KE(3) inserted by No 62 of 1998, Sch 1 (effective 1 July 1998).

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