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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 601PA
Responsible entity may apply for deregistration
(1) The responsible entity of
a registered scheme may lodge an application for deregistration of the scheme
(2) The responsible entity may only apply if:
- the scheme:
- has 20 or less members (calculated in accordance with subsection 601ED(4))
and all the members agree that the scheme should be deregistered; and
- is not required to be registered by paragraph 601ED(1)(b) or (c); or
- because of subsection 601ED(2) (exemption based on Chapter 6D not
applying), the scheme is not required to be registered and all the members
agree that the scheme should be deregistered; or
- the scheme is not a managed investment scheme.
(3) If ASIC is satisfied that the application complies with
subsections (1) and (2), it must give notice of the proposed
- on the national database; and
- in the Gazette .
When 2 months have passed since the Gazette notice, ASIC may deregister the
(4) ASIC must give notice of the deregistration to the applicant.
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