Document ID: chunk:federal_register_of_legislation:C2018A00061:clause:2_340a
Version: federal_register_of_legislation:C2018A00061
Segment Type: clause
Provision Reference: sch 2 cl 340A
Character Range: 99840–100739

340A  Exemption orders—notified foreign passport funds
 (1) On an application made in accordance with subsection (3) in relation to a notified foreign passport fund, ASIC may make an order, in writing, relieving any of the following from all or specified requirements of Part 2M.3:
 (a) a notified foreign passport fund;
 (b) the operator of a notified foreign passport fund;
 (c) directors of the operator of a notified foreign passport fund.
Note: For the criteria for making orders under this section, see section 342.
 (2) The order may:
 (a) be expressed to be subject to conditions; and
 (b) be indefinite or limited to a specified period.
 (3) The application must be:
 (a) authorised by the operator of the notified foreign passport fund; and
 (b) in writing; and
 (c) lodged with ASIC.
 (4) ASIC must give the applicant written notice of the making, revocation or suspension of the order.