CORPORATIONS ACT 2001 - SECT 1212A Registration of Australian passport funds

CORPORATIONS ACT 2001 - SECT 1212A

  (1)   ASIC must register a collective investment fund that is a registered scheme or a sub - fund of a retail CCIV as a passport fund if ASIC is of the opinion that:

  (a)   the proposed operator of the fund is an eligible entity , within the meaning of section   3 of Annex   2 of the Memorandum of Cooperation; and

  (b)   each of the following is likely to be complied with in relation to the fund:

  (i)   this Act (including the Passport Rules for this jurisdiction);

  (ii)   the ASIC Act.

  (2)   A collective investment fund is registered as a passport fund by ASIC:

  (a)   assigning a unique number to the passport fund (the Australian Passport Fund Registration Number or APFRN for the passport fund); and

  (b)   ensuring that details of the fund are entered on the Register of Passport Funds.