How to become a notified foreign passport fund
Once a passport fund has been registered in its home economy and its operator has become a registered foreign company in Australia, its operator can notify ASIC of its intention to offer in Australia.
A foreign passport fund operator seeking to offer interests in a fund to investors in Australia will need to submit a notification to ASIC, attaching a copy of the product disclosure statement (PDS) and any consents required to use the proposed name.
Notifying your intention
The system for notifying of an intention to offer interests in a fund to investors in Australia is now available through ASIC's Regulatory Portal. To notify us you can use the Regulatory Portal.
For more information about registering for the Regulatory Portal, please see our user guide
To apply for registration:
- From the top navigation bar, select 'Transactions' and then select 'All transactions index' from the drop-down list. This will take you to a page listing all available transactions.
- Select ‘Notify intention to offer interests in a foreign passport fund in Australia’. This will take you to a landing page for the registration application. This page contains information about fees, relevant legislation, privacy, etc.
- At the bottom of the landing page, select the 'Launch transaction' button to start your application.
Completing the form
You will need to have the following information to complete this form:
- asset and equity valuation information including assets of the fund at the most recent valuation;
- directors of the foreign passport fund operator;
- delegated functions including the:
- local agent;
- annual implementation reviewer; and
- financial statement auditor:
- external dispute resolution membership;
- the compliance controls and monitoring processes to ensure compliance with the Corporations Act 2001 (including the Australian Passport Rules) and the Australian Securities and Investments Act 2001.
When does the foreign passport fund become notified?
The foreign passport fund will become a notified foreign passport fund if, by the end of the consideration period:
- ASIC has not advised the operator that required information has not been provided;
- ASIC has not rejected the notice of intention; and/or
- the notice of intention has not been withdrawn.
Got a question?
If you have a question about notifying of an intention to offer interests in a fund to investors in Australia email us at firstname.lastname@example.org.
For more information read:
- Regulatory Guide 138 Foreign passport funds (RG 138)