Section 340A — Corporations Act 2001 (Cth)

(1) On an application made in accordance with subsection (3) in relation to a notified foreign passport fund, ASIC may make an order, in writing, relieving any of the following from all or specified requirements of Part 2M.3:

(a) a notified foreign passport fund;

(b) the operator of a notified foreign passport fund;

(c) directors of the operator of a notified foreign passport fund.

Note: For the criteria for making orders under this section, see section 342.

(2) The order may:

(a) be expressed to be subject to conditions; and

(b) be indefinite or limited to a specified period.

(3) The application must be:

(a) authorised by the operator of the notified foreign passport fund; and

(b) in writing; and

(c) lodged with ASIC.

(4) ASIC must give the applicant written notice of the making, revocation or suspension of the order.

Related sections

• s 337 — Interpretation of accounting, auditing and sustainability standards
• s 338 — Evidence of text of accounting, auditing or sustainability standard
• s 340 — Exemption orders—companies, registered schemes, registrable superannuation entities and disclosing entities
• s 341 — Exemption orders—class orders for companies, registered schemes, registrable superannuation entities and disclosing entities
• s 341A — Exemption orders—class orders for notified foreign passport funds
• s 342 — Exemption orders—criteria for orders for companies, registered schemes, registrable superannuation entities, notified foreign passport funds and disclosing entities

Research how courts apply s 340A

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