Section 1216J — Corporations Act 2001: Process for removal as a notified foreign passport fund

Notice before removal (1) If ASIC proposes to remove a fund as a notified foreign passport fund under section 1216F or 1216H, ASIC must give written notice setting out the date on which ASIC proposes to remove the fund as a notified foreign passport fund to: (a) the operator of the fund; and (b) the home regulator for the fund and each other host regulator for the fund. (2) The notice must be given at least 5 business days before the fund is removed. Removing the fund as a notified foreign passport fund (3) The fund is removed as a notified foreign passport fund by including an annotation on the Register of Passport Funds to that effect. The fund ceases to be a notified foreign passport fund on the day on which the annotation is made. Notice of removal (4) If ASIC removes a fund as a notified foreign passport fund under section 1216F or 1216H, ASIC must give written notice that the fund has been removed and of the date of removal to: (a) the operator of the fund; and (b) the home regulator for the fund and each other host regulator for the fund. (5) The notice must be given within 5 business days after the fund is removed.