Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 1216G

When is there an expectation that a fund would become a notified foreign passport fund?

                   For the purposes of this Act (including the Passport Rules for this jurisdiction), a person becomes a member of a fund on the expectation that it would become a notified foreign passport fund if:

                     (a)  a representation has been made by the fund or the operator of the fund in any document, or other means of communication, that might reasonably be expected to be available to persons considering acquiring an interest in the fund that the fund will become, or that it is intended or expected that the fund will become, a notified foreign passport fund; and

                     (b)  the person acquires an interest in the fund after that representation was made.



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