CORPORATIONS ACT 2001 - SECT 1213C Notified foreign passport funds--authority to offer interests in this jurisdiction

CORPORATIONS ACT 2001 - SECT 1213C

  (1)   A foreign passport fund becomes a notified foreign passport fund if:

  (a)   the operator of the fund has lodged a notice of intention to offer interests in the fund to persons in this jurisdiction with ASIC under section   1213; and

  (b)   the operator of the fund has not withdrawn the notice of intention under subsection   1213(3); and

  (c)   within the consideration period for the notice of intention, ASIC has not given the operator:

  (i)   notification under section   1213A that ASIC is of the opinion that information required under the prescribed form has not been provided; or

  (ii)   notification under section   1213B that the notice of intention has been rejected.

  (2)   The foreign passport fund becomes a notified foreign passport fund on the first day after the end of the consideration period for the notice of intention.

  (3)   The foreign passport fund ceases to be a notified foreign passport fund if it is removed as a notified foreign passport fund under Division   2 of Part   8A.7.

  (4)   A notified foreign passport fund may offer interests in the fund to persons in this jurisdiction.