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CORPORATIONS ACT 2001 - SECT 1215B

Interim stop orders

             (1)  ASIC may make an interim stop order, if ASIC is of the opinion that:

                     (a)  any delay in making a stop order under section 1215 or 1215A would be prejudicial to the public interest; and

                     (b)  either:

                              (i)  in the case of an order that is to be made in relation to an Australian passport fund--one or more of the circumstances mentioned in subsection 1215(3) exists; or

                             (ii)  in the case of an order that is to be made in relation to a notified foreign passport fund--one or more of the circumstances mentioned in subsection 1215A(3) exists.

             (2)  An interim stop order under subsection (1):

                     (a)  may be made without holding a hearing, or during a hearing; and

                     (b)  must be in writing; and

                     (c)  lasts:

                              (i)  if the stop order is made during a hearing--until ASIC makes a stop order after the conclusion of the hearing, or the interim stop order is revoked; and

                             (ii)  otherwise--for 21 days after the day on which it is made, unless sooner revoked.

             (3)  If ASIC makes an interim stop order, ASIC must give the operator of the fund a copy of the order as soon as reasonably practicable after it is made.



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