Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1216j
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1216J
Character Range: 4966190–4967473

1216J  Process for removal as a notified foreign passport fund

Notice before removal
 (1) If ASIC proposes to remove a fund as a notified foreign passport fund under section 1216F or 1216H, ASIC must give written notice setting out the date on which ASIC proposes to remove the fund as a notified foreign passport fund to:
 (a) the operator of the fund; and
 (b) the home regulator for the fund and each other host regulator for the fund.
 (2) The notice must be given at least 5 business days before the fund is removed.

Removing the fund as a notified foreign passport fund
 (3) The fund is removed as a notified foreign passport fund by including an annotation on the Register of Passport Funds to that effect. The fund ceases to be a notified foreign passport fund on the day on which the annotation is made.

Notice of removal
 (4) If ASIC removes a fund as a notified foreign passport fund under section 1216F or 1216H, ASIC must give written notice that the fund has been removed and of the date of removal to:
 (a) the operator of the fund; and
 (b) the home regulator for the fund and each other host regulator for the fund.
 (5) The notice must be given within 5 business days after the fund is removed.

Division 3—Continued application of the Corporations legislation