ASIC’s power to continue the application of the Corporations legislation
Declarations on continued application of the Corporations legislation (1) ASIC may: (a) declare that the Corporations legislation continues to apply: (i) in relation to a fund that has been deregistered as an Australian passport fund or removed as a notified foreign passport fund; and (ii) to an entity in relation to a fund that has been deregistered as an Australian passport fund or removed as a notified foreign passport fund; and (b) declare that the Corporations legislation continues to apply: (i) in relation to a fund that has been deregistered as an Australian passport fund or removed as a notified foreign passport fund; and (ii) to an entity in relation to a fund that has been deregistered as an Australian passport fund or removed as a notified foreign passport fund; as if specified provisions were omitted, modified or varied as specified in the declaration. (2) The continued application of the Corporations legislation may: (a) apply to all or specified provisions of the Corporations legislation; and (b) apply to all entities, a specified class of entities or a specified entity; and (c) apply to all former passport funds, a specified class of former passport funds or a specified former passport fund; and (d) relate to any other matter generally or as specified. Declarations relating to all or a class of entities or passport funds (3) A declaration that relates to all entities, a specified class of entities, all former passport funds or a specified class of former passport funds, must be made by legislative instrument. Declarations relating to specified entities or passport funds (4) A declaration that relates to a specified entity or a specified former passport fund must be made by notifiable instrument. (5) ASIC must also: (a) give a copy of a declaration that relates to a specified entity to the entity; and (b) give a copy of a declaration that relates to a specified former passport fund to the most recent operator of the fund. ASIC must do so as soon as is reasonably practicable after the declaration is made.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.
Try BriefBridge free