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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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