Section 1216D — Corporations Act 2001 (Cth)

Notice before deregistration

(1) If ASIC proposes to deregister a fund as an Australian passport fund under subsection 1216A(1) or paragraph 1216C(7)(b), ASIC must give written notice setting out the date on which ASIC proposes to deregister the fund as an Australian passport fund to:

(a) the operator of the fund; and

(b) each host regulator for the fund.

(2) The notice must be given at least 5 business days before the fund is deregistered.

Deregistration

(3) The fund is deregistered as an Australian passport fund by including an annotation on the Register of Passport Funds that the fund has been deregistered. The fund ceases to be an Australian passport fund on the day on which the annotation is made.

Notice of deregistration

(4) If ASIC deregisters a fund as an Australian passport fund under subsection 1216A(1) or paragraph 1216C(7)(b), ASIC must give written notice that the fund has been deregistered and of the date of deregistration to:

(a) the operator of the fund; and

(b) each host regulator for the fund.

(5) The notice must be given within 5 business days after the fund is deregistered.

Related sections

• s 1216A — ASIC 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 1216E — Application to be removed as a notified foreign passport fund
• s 1216F — ASIC to remove fund as a notified foreign passport fund
• s 1216G — When is there an expectation that a fund would become a notified foreign passport fund?

Research how courts apply s 1216D

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