Section 1216A — Corporations Act 2001 (Cth)

(1) On an application under section 1216, ASIC must deregister a fund as an Australian passport fund if ASIC is satisfied that:

(a) there are no members of the fund who became members (whether in this jurisdiction or any host economy for the fund) after the fund became an Australian passport fund; and

(b) there are no members of the fund who became members (whether in this jurisdiction or any host economy for the fund) on the expectation that the fund would become an Australian passport fund.

(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.

Related sections

• s 1215C — Revocation of stop order made under section 1215 or 1215A
• s 1215D — Compliance with stop orders
• s 1216 — Application to deregister
• s 1216B — When is there an expectation that a fund would become an Australian passport fund?
• s 1216C — Deregistration—initiated by ASIC
• s 1216D — Process for deregistration

Research how courts apply s 1216A

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.