Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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 that there are no longer grounds for the order under subsection 1215(3).
(2) The operator of a notified foreign 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 that there are no longer grounds for the order under subsection 1215A(3).
(3) An application under subsection (1) or (2) must:
(a) be in the prescribed form; and
(b) without limiting paragraph (a), set out the basis on which the operator of the fund believes that there are no longer grounds for the stop order.
(4) ASIC must:
(a) revoke a stop order made under section 1215 in relation to an Australian passport fund if:
(i) an application is made under subsection (1) of this section; and
(ii) ASIC is of the opinion that there are no longer grounds for the stop order; and
(b) revoke a stop order made under section 1215A in relation to a notified foreign passport fund if:
(i) an application is made under subsection (2) of this section; and
(ii) ASIC is of the opinion that there are no longer grounds for the stop order.
(5) Nothing in this section limits the circumstances in which ASIC may revoke or vary a stop order made under section 1215 or 1215A.