Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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 with ASIC under section 1213; and
(b) the operator of the fund has not withdrawn the notice of intention under subsection 1213(3); and
(c) within the consideration period for the notice of intention, ASIC has not given the operator:
(i) notification under section 1213A that ASIC is of the opinion that information required under the prescribed form has not been provided; or
(ii) notification under section 1213B that the notice of intention has been rejected.
(2) The foreign passport fund becomes a notified foreign passport fund on the first day after the end of the consideration period for the notice of intention.
(3) The foreign passport fund ceases to be a notified foreign passport fund if it is removed as a notified foreign passport fund under Division 2 of Part 8A.7.
(4) A notified foreign passport fund may offer interests in the fund to persons in this jurisdiction.