Corporations Act 2001
Sections and provisions with full text and the judgments that cite each one.
Section 1211A — Meaning of Passport Rules
Passport Rules for this jurisdiction (1) Passport Rules for this jurisdiction, means rules made by the Minister under section 1211 as in force from time to time. Passport Rules for a participating…
Section 1211B — Compliance with the Passport Rules
(1) A person contravenes this subsection if: (a) an obligation is imposed on the person in relation to an Australian passport fund under the Passport Rules for this jurisdiction; and (b) the person…
Section 1212 — Application for registration
(1) A person may lodge an application with ASIC to have a scheme or sub-fund in an item in column 1 of the following table (a collective investment fund) registered as a passport fund if the person…
Section 1212A — Registration of Australian passport funds
(1) ASIC must register a collective investment fund that is a registered scheme or a sub-fund of a retail CCIV as a passport fund if ASIC is of the opinion that: (a) the proposed operator of the fund…
Section 1212B — All documents etc. lodged with ASIC to bear APFRN
After a collective investment fund is registered as a passport fund, all documents relating to the fund that are lodged with ASIC must set out the fund’s APFRN.
Section 1212C — Notifying ASIC if offering interests in another participating economy in another name
(1) The operator of an Australian passport fund must notify ASIC in accordance with this section if: (a) the operator of the fund offers interests in the fund in a participating economy other than…
Section 1213 — Notice of intention to offer interests in a foreign passport fund
(1) The operator of a foreign passport fund may lodge with ASIC a notice of intention to offer interests in the fund to persons in this jurisdiction, provided the operator is a registered foreign…
Section 1213A — ASIC may notify operator that notice of intention lacks information required
(1) ASIC may, within the consideration period for the notice of intention, notify the operator of the foreign passport fund that ASIC is of the opinion that information required under the prescribed…
Section 1213B — Rejecting a notice of intention
Circumstances in which ASIC may reject a notice of intention (1) ASIC may, within the consideration period for the notice of intention, reject the notice if: (a) ASIC is of the opinion that one or…
Section 1213C — Notified foreign passport funds—authority to offer interests in this jurisdiction
(1) A foreign passport fund becomes a notified foreign passport fund if: (a) the operator of the fund has lodged a notice of intention to offer interests in the fund to persons in this jurisdiction…
Section 1213D — Meaning of consideration period
(1) The consideration period, for a notice of intention to offer interests in a foreign passport fund in this jurisdiction, is: (a) a period of 15 business days beginning on the day after the notice…
Section 1213E — Notified foreign passport funds to be treated as managed investment schemes
(1) A notified foreign passport fund is a managed investment scheme for the purposes of this Act, even if it would not otherwise be a managed investment scheme for the purposes of this Act because of…
Section 1213F — Operators and notified foreign passport funds not to be treated as companies etc.
To avoid doubt: (a) neither the operator of a notified foreign passport fund nor the fund is to be treated as a company for the purposes of the corporations legislation, merely because the operator…
Section 1213G — Offences relating to the operation of notified foreign passport funds
(1) This section applies if: (a) one of the following persons engages in conduct that constitutes an alleged offence against this Act or the ASIC Act: (i) a notified foreign passport fund; (ii) the…
Section 1213H — Notified foreign passport funds must not issue debentures in this jurisdiction
The operator of a notified foreign passport fund commits an offence if the operator or the fund: (a) makes an offer of debentures in this jurisdiction that needs disclosure to investors under Chapter…
Section 1213J — Constitution—right to obtain a copy
Right to a copy of the consolidated constitution (1) The operator of a notified foreign passport fund commits an offence of strict liability if: (a) a person makes an application to the operator in…
Section 1213K — Register of members—right to obtain a copy
Right to a copy of the register of members of a fund (1) The operator of a notified foreign passport fund commits an offence of strict liability if: (a) a person makes an application to the operator…
Section 1213L — Use of information on register of members
Offence—using information obtained from the register to contact members (1) A person who obtains a copy of a register of members of a notified foreign passport fund under section 1213K must not: (a)…
Section 1213M — Reports required under the law of the home economy
Right to a copy of reports (1) The operator of a notified foreign passport fund commits an offence of strict liability if: (a) the operator or the fund is required under the law of the home economy…
Section 1213N — Order for copies of books of a notified foreign passport fund
(1) A person may apply to the Court for an order under subsection (2) if the person is: (a) an Australian member of the fund; or (b) a former member of the fund who acquired an interest in the fund…
Section 1213P — Register of members—ASIC may require lodgment
(1) The operator of a notified foreign passport fund commits an offence of strict liability if: (a) ASIC requires the operator of the fund to lodge a copy of the whole or a specified part of the…
Section 1213Q — Destruction of records by ASIC
ASIC may destroy or otherwise dispose of any document that is lodged under, or for the purposes of, a provision of this Chapter or the Passport Rules for this jurisdiction if: (a) ASIC is of the…
Section 1214 — Register of Passport Funds
(1) ASIC must either: (a) establish and maintain a Register of Passport Funds; or (b) ensure that a Register of Passport Funds is established and maintained. (2) If the Register of Passport Funds is…
Section 1215 — Stop order—Australian passport funds
ASIC may make stop orders (1) ASIC may, by written instrument, order the operator of an Australian passport fund to do one or more of the following: (a) cease to offer, or not to begin offering,…
Section 1215A — Stop order—notified foreign passport fund
ASIC may make stop orders (1) ASIC may, by written instrument, order the operator of a notified foreign passport fund to do one or more of the following: (a) cease to offer, or not to begin offering,…
Section 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:…
Section 1215C — Revocation of stop order made under section 1215 or 1215A
(1) The operator of an Australian passport fund may make an application to ASIC, in accordance with this section, to have a stop order that is in force in relation to the fund revoked on the basis…
Section 1215D — Compliance with stop orders
(1) This section applies if: (a) ASIC gives the operator of an Australian passport fund a copy of a stop order under subsection 1215(5) or an interim stop order under subsection 1215B(3); or (b) ASIC…
Section 1216 — Application to deregister
(1) The operator of an Australian passport fund may lodge an application for deregistration of the fund as an Australian passport fund. (2) The application must be in the prescribed form.
Section 1216A — ASIC to deregister
(1) On an application under section 1216, ASIC must deregister a fund as an Australian passport fund if ASIC is satisfied that: (a) there are no members of the fund who became members (whether in…
Section 1216B — When is there an expectation that a fund would become an Australian 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 an Australian passport fund if: (a) a…
Section 1216C — Deregistration—initiated by ASIC
(1) ASIC may decide to deregister an Australian passport fund if ASIC is of the opinion that one or more of the following has not been, is not being or is not likely to be complied with in relation…
Section 1216D — Process for deregistration
Notice before deregistration (1) If ASIC proposes to deregister a fund as an Australian passport fund under subsection 1216A(1) or paragraph 1216C(7)(b), ASIC must give written notice setting out the…
Section 1216E — Application to be removed as a notified foreign passport fund
(1) The operator of a notified foreign passport fund may lodge an application for the fund to be removed as a notified foreign passport fund. (2) The application must be in the prescribed form.
Section 1216F — ASIC to remove fund as a notified foreign passport fund
(1) On an application under section 1216E, ASIC must remove a fund as a notified foreign passport fund if ASIC is satisfied that: (a) there are no members of the fund who became members in this…
Section 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)…
Section 1216H — ASIC to remove a fund as a notified foreign passport fund
ASIC must remove a fund as a notified foreign passport fund if the home regulator for the fund notifies ASIC that the fund has been deregistered as a passport fund in the home economy for the fund.
Section 1216J — 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…
Section 1216K — ASIC’s power to continue the application of the Corporations legislation
Declarations on continued application of the Corporations legislation (1) ASIC may: (a) declare that the Corporations legislation continues to apply: (i) in relation to a fund that has been…
Section 1216L — Regulations may continue the application of the Corporations legislation
The regulations may: (a) provide that the Corporations legislation continues to apply: (i) in relation to a fund, all funds of a specified class or all funds that have been deregistered as Australian…
Section 1217 — ASIC’s power to make exemptions and declare modifications etc. in relation to this Chapter
Exemptions and declarations on application of this Chapter (1) ASIC may: (a) exempt an entity from a provision of this Chapter; or (b) declare that this Chapter applies to an entity as if specified…
Section 1217A — ASIC’s power to make exemptions and declare modifications etc. in relation to the Passport Rules
Exemptions and declaration on Passport Rules (1) ASIC may: (a) exempt an entity from a provision of the Passport Rules for this jurisdiction; or (b) declare that the Passport Rules for this…
Section 1217B — Exemptions and modification by regulations
The regulations may: (a) exempt from all or specified provisions of the Corporations legislation (which includes this Chapter and the Passport Rules for this jurisdiction): (i) a passport fund, all…
Section 1221 — Objects of this Chapter
The objects of this Chapter are: (a) to provide a regulatory framework for corporate collective investment vehicles that is fair, efficient and competitive; and (b) together with Chapter 7, to…
Section 1222 — Requirements for registration as a CCIV
The requirements for registration of a company as a CCIV are as follows: (a) the company is a company limited by shares; (b) the company has a constitution; (c) the sole proposed director of the…
Section 1222A — Applying for registration
(1) This section applies in relation to an application for registration made under subsection 117(1) if the type of company that is proposed to be registered under this Act is a CCIV. (2) The…
Section 1222ZA — Effect of name change
A change of the name of a sub-fund of a CCIV does not: (a) create a legal entity; or (b) affect the sub-fund’s existing property, rights or obligations; or (c) render defective any legal proceedings…
Section 1222B — No other way to register a CCIV
A body may not be taken under section 5H to be registered under this Act as a CCIV.
Section 1222ZB — Registers relating to CCIVs
(1) The register of members kept by a CCIV in accordance with section 169 must, in addition to the information mentioned in subsection 169(3), also show the following: (a) the sub-fund of the CCIV to…
Section 1222C — Registration of a CCIV
If: (a) an application to register a company as a CCIV is lodged under section 117; and (b) the company meets the requirements for registration as a CCIV set out in section 1222; ASIC may take the…