Commonwealth Consolidated Acts

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Definition of consideration period

             (1)  The consideration period , for a notice of intention to offer interests in a foreign passport fund in this jurisdiction, is:

                     (a)  a period of 15 business days beginning on the day after the notice is lodged with ASIC; or

                     (b)  if ASIC and the operator agree that the period is to be extended under subsection (2)--the extended period.

             (2)  ASIC and the operator of the foreign passport fund may agree, in writing, to one or more extensions of the consideration period. However, each extension must be for no more than 5 business days.

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