Commonwealth Consolidated Acts

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Notifying ASIC if offering interests in another participating economy in another name

             (1)  The operator of an Australian passport fund must notify ASIC in accordance with this section if:

                     (a)  the operator of the fund offers interests in the fund in a participating economy other than Australia; and

                     (b)  the name of the fund in the other participating economy is not the same as the name of the Australian passport fund.

Note:          Failure to comply with this subsection is an offence (see subsection 1311(1)).

             (2)  The notice must be given:

                     (a)  in the prescribed form; and

                     (b)  within 7 days after interests in the fund begin to be offered under that name.

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