Commonwealth Consolidated Acts Commonwealth Consolidated ActsNotice before deregistration
(1) If ASIC proposes to deregister a registered scheme that is an Australian passport fund under subsection 601PBB(3) or paragraph 601PBC(7)(b), ASIC must give written notice setting out the date on which ASIC proposes to deregister the registered scheme:
(a) to the operator; and
(b) to each host regulator for the Australian passport fund.
(2) The notice must be given at least 5 business days before the fund is deregistered as a registered scheme.
Notice of deregistration
(3) If ASIC deregisters a registered scheme that is an Australian passport fund under subsection 601PBB(3) or paragraph 601PBC(7)(b), ASIC must give written notice that the fund has been deregistered as a registered scheme and the date on which it has been deregistered:
(a) to the operator; and
(b) to each host regulator for the Australian passport fund.
(4) The notice must be given within 5 business days after the fund is deregistered as a registered scheme.