Corporations Act 2001

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 notified foreign passport fund;

the operator of a notified foreign passport fund;

directors of the operator of a notified foreign passport fund.

For the criteria for making orders under this section, see section 342.

The order may:

be expressed to be subject to conditions; and

be indefinite or limited to a specified period.

The application must be:

authorised by the operator of the notified foreign passport fund; and

in writing; and

lodged with ASIC.

ASIC must give the applicant written notice of the making, revocation or suspension of the order.