How to become a notified foreign passport fund
A foreign passport fund is a registered passport fund with a home economy in Japan, New Zealand, the Republic of Korea or Thailand. If the operator of a foreign passport fund seeks to offer interests in the fund to investors in Australia under the Asia Region Funds Passport, the fund must become a notified foreign passport fund (under section 1213C of the Corporations Act).
To become a notified foreign passport fund, the operator of the foreign passport fund will need to submit a notice of intention to ob体育. They will also need to attach a copy of the Product Disclosure Statement (PDS) and any consents required to use the fund鈥檚 proposed name.
When completing a notice of intention, the operator will be asked about its processes and procedures that demonstrate capability to comply with applicable Australian law. This includes questions about:
- receiving, considering and responding to complaints by Australian members and potential investors
- monitoring the compliance of distributors in Australia
- preparing and reviewing disclosure and reporting to Australian members
- preparing advertising and marketing in Australia
- if relevant, lodging communications with an Australian financial market
- lodging ongoing notifications with ob体育.
We have 15 business days, or a longer period if agreed with the foreign passport fund operator, to assess a notice of intention.
To notify your intention
To notify your intention to offer interests in a foreign passport fund to investors in Australia you can use .
For more information about registering for the Regulatory Portal, please see our user guide. Key steps to submitting the notification are outlined below:
- 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 鈥楴otify intention to offer interests in a foreign passport fund in Australia鈥�. 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.
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:
- ob体育 has not advised the operator that required information has not been provided;
- ob体育 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 [email protected].
For more information read:
- Regulatory Guide 138 Foreign passport funds (RG 138)