Section 1216F — Corporations Act 2001 (Cth)

(1) On 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.

(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 1216C — Deregistration—initiated by ASIC
• s 1216D — Process for deregistration
• s 1216E — Application to be removed as a notified foreign passport fund
• s 1216G — When is there an expectation that a fund would become a notified foreign passport fund?
• s 1216H — ASIC to remove a fund as a notified foreign passport fund
• s 1216J — Process for removal as a notified foreign passport fund

Research how courts apply s 1216F

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