Section 340A — Corporations Act 2001: Exemption orders—notified foreign passport funds

(1) On an application made in accordance with subsection (3) in relation to a notified foreign passport fund, ASIC may make an order, in writing, relieving any of the following from all or specified requirements of Part 2M.3: (a) a notified foreign passport fund; (b) the operator of a notified foreign passport fund; (c) directors of the operator of a notified foreign passport fund. Note: For the criteria for making orders under this section, see section 342. (2) The order may: (a) be expressed to be subject to conditions; and (b) be indefinite or limited to a specified period. (3) The application must be: (a) authorised by the operator of the notified foreign passport fund; and (b) in writing; and (c) lodged with ASIC. (4) ASIC must give the applicant written notice of the making, revocation or suspension of the order.