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CORPORATIONS ACT 2001

CHAPTER 5C - MANAGED INVESTMENT SCHEMES  

PART 5C.6 - MEMBERS' RIGHTS TO WITHDRAW FROM A SCHEME  

SECTION 601KE  NON-LIQUID SCHEMES - RESPONSIBLE ENTITY MAY CANCEL WITHDRAWAL OFFER  

601KE(1)  [Cancellation of offer]  


The responsible entity of a registered scheme that is not liquid:


(a) may cancel a withdrawal offer before it closes if the offer contains a material error; or


(b) must cancel a withdrawal offer before it closes if it is in the best interests of members to do so.

601KE(2)  [Method of cancellation]  


The cancellation must be made:


(a) if the constitution specifies procedures for cancelling the withdrawal offer - in accordance with those procedures; or


(b) otherwise - by notice in writing to the members to whom the withdrawal offer was made.

601KE(3)  [Lodgment with ASIC]  


The responsible entity must lodge written notice of the cancellation with ASIC.

 



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