Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1216f
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1216F
Character Range: 4964300–4965028

1216F  ASIC to remove fund as a notified foreign passport fund
 (1) On an application under section 1216E, ASIC must remove a fund as a notified foreign passport fund if ASIC is satisfied that:
 (a) there are no members of the fund who became members in this jurisdiction after the fund became a notified foreign passport fund; and
 (b) there are no members of the fund who became members in this jurisdiction on the expectation that the fund would become a notified foreign passport fund.
 (2) For the purposes of subsection (1), ignore any member of the fund that:
 (a) is, or has at any time been, the operator of the fund; or
 (b) is a related party of an entity that is, or has at any time been, the operator of the fund.