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CORPORATIONS ACT 2001

CHAPTER 5C - MANAGED INVESTMENT SCHEMES  

PART 5C.10 - DEREGISTRATION  

SECTION 601PA  DEREGISTRATION - VOLUNTARY  

601PA(1)  Responsible entity may apply for deregistration.  


The responsible entity of a registered scheme may lodge an application for deregistration of the scheme with ASIC.

601PA(2)  [Preconditions]  


The responsible entity may only apply if:


(a) the scheme:


(i) has 20 or less members (calculated in accordance with subsection 601ED(4)) and all the members agree that the scheme should be deregistered; and

(ii) is not required to be registered by paragraph 601ED(1)(b) or (c); or


(b) because of subsection 601ED(2) (exemption based on Division 2 of Part 7.9 not applying), the scheme is not required to be registered and all the members agree that the scheme should be deregistered; or
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(c) the scheme is not a managed investment scheme.

601PA(3)  [Notice of proposed deregistration]  


If ASIC is satisfied that the application complies with subsections (1) and (2), it must give notice of the proposed deregistration:


(a) on the national database; and


(b) in the Gazette.

When 2 months have passed since the Gazette notice, ASIC may deregister the scheme.

601PA(4)  [Notice of deregistration]  


ASIC must give notice of the deregistration to the applicant.

 



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