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: Section 601KE is modified by the ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 2023/668; 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.
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.
601KE(2)
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.
601KE(3)
The responsible entity must lodge written notice of the cancellation with ASIC.
[ CCH Note: S 601KE(3) will be amended by No 69 of 2020, s 3, Sch 1[975], by substituting " the Registrar. The notice must meet any requirements of the data standards. " for " ASIC. " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
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