ASIC moves to deregister two managed investment schemes

The Australian Securities and Investments Commission (ASIC) has published notice that it may deregister two managed investment schemes two months after the appearance of the notice in the official gazette, unless acceptable reason is given not to proceed. The decision, taken under subsection 601PB(2) of the Corporations Act 2001, was dated 4 September 2026 and appears in the ASIC Gazette No. A36/26 of Tuesday 8 September 2026.

The two schemes affected are the CORDIS GLOBAL MEDICAL TECHNOLOGY FUND and the MAGELLAN GLOBAL EQUITIES FUND (CURRENCY HEDGED). Both are listed in the gazette’s “Company/scheme deregistrations” section, and the notice is addressed to the registered scheme operators and, ultimately, to the unit holders of each fund.

The schemes affected

The deregistration procedure under subsection 601PB(2) allows ASIC to remove a managed investment scheme from the register once the statutory two-month period has elapsed without a satisfactory objection. The notice names each scheme together with its Australian Registered Scheme Number (ARSN):

• CORDIS GLOBAL MEDICAL TECHNOLOGY FUND — ARSN 648 060 913
• MAGELLAN GLOBAL EQUITIES FUND (CURRENCY HEDGED) — ARSN 606 840 206

What deregistration means

Deregistration is a formal step that removes a scheme from ASIC’s register and typically follows a decision to wind the scheme up or to cease its operation. For unit holders, the practical consequence is that the scheme will no longer be a registered managed investment scheme, and any remaining assets are expected to be dealt with in accordance with the scheme’s constitution and the Corporations Act 2001.

The notice states that ASIC “may deregister” the schemes “two months after the publication of this notice, unless given acceptable reason not to proceed.” This gives the responsible entities and any interested parties a defined window in which to raise objections before the deregistration takes effect.

Rights of review

Persons affected by decisions made by ASIC under the Corporations Act 2001 and other legislation it administers may have rights of review. ASIC has published Regulatory Guide 57 (Notification of rights of review, RG 57) and Information Sheet ASIC decisions – your rights (INFO 9) to assist affected parties in determining whether a right of review exists. Copies are available from the ASIC Digest, the ASIC website at www.asic.gov.au, or from the Administrative Law Co-ordinator in the relevant ASIC office.

For unit holders of the two funds, the practical impact is direct: once the two-month period elapses and deregistration proceeds, the schemes cease to exist as registered managed investment vehicles, and investors should expect the responsible entities to finalise the distribution of any remaining assets in line with the applicable legal framework.

Source: ASIC Gazette, No. A36/26, 8 September 2026, Company/scheme deregistrations, p. 70 (official reference: Corporations Act 2001, s. 601PB(2)).