Section 1216J — Corporations Act 2001 (Cth)

Notice before removal

(1) If ASIC proposes to remove a fund as a notified foreign passport fund under section 1216F or 1216H, ASIC must give written notice setting out the date on which ASIC proposes to remove the fund as a notified foreign passport fund to:

(a) the operator of the fund; and

(b) the home regulator for the fund and each other host regulator for the fund.

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

Removing the fund as a notified foreign passport fund

(3) The fund is removed as a notified foreign passport fund by including an annotation on the Register of Passport Funds to that effect. The fund ceases to be a notified foreign passport fund on the day on which the annotation is made.

Notice of removal

(4) If ASIC removes a fund as a notified foreign passport fund under section 1216F or 1216H, ASIC must give written notice that the fund has been removed and of the date of removal to:

(a) the operator of the fund; and

(b) the home regulator for the fund and each other host regulator for the fund.

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

Related sections

• 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?
• s 1216H — ASIC to remove a fund as a notified foreign passport fund
• s 1216K — ASIC’s power to continue the application of the Corporations legislation
• s 1216L — Regulations may continue the application of the Corporations legislation
• s 1217 — ASIC’s power to make exemptions and declare modifications etc. in relation to this Chapter

Research how courts apply s 1216J

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