Document ID: chunk:federal_register_of_legislation:C2018A00061:clause:1_1213c
Version: federal_register_of_legislation:C2018A00061
Segment Type: clause
Provision Reference: sch 1 cl 1213C
Character Range: 19915–21095

1213C  Notified foreign passport funds—authority to offer interests in this jurisdiction
 (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 (b) the operator of the fund has not withdrawn the notice of intention under subsection 1213(3); and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.