Corporations Act 2001
View history note
Hide history noteOn 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.
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