5CRegulated entities

5C Regulated entities

(1) For the purposes of paragraph (h) of the definition of regulated entity in section 7 of the Act, the class of persons: (a) who are persons regulated by ASIC in respect of whom ASIC may exercise a power conferred under section 11 or 12A of the Australian Securities and Investments Commission Act 2001; and (b) none of whom would, apart from this section, be leviable entities; is prescribed. (2) For the purposes of paragraph (h) of the definition of regulated entity in section 7 of the Act, the following classes of persons are prescribed: (a) the operators of notified foreign passport funds; (b) the operators of regulated CIS that: (i) have been removed as notified foreign passport funds under Division 2 of Part 8A.7 of the Corporations Act 2001; and (ii) still have protected members for the purposes of regulation 8A.7.20 of the Corporations Regulations 2001; (c) the operators of funds that: (i) have ceased to be regulated CIS; and (ii) have been removed as notified foreign passport funds under Division 2 of Part 8A.7 of the Corporations Act 2001; and (iii) still have protected members for the purposes of regulation 8A.7.20 of the Corporations Regulations 2001.