The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFSL) of Aquaint Capital Limited, which is in liquidation.
Aquaint is the responsible entity for Aquaint Income Fund (the scheme). It was placed into liquidation on 1 September 2016 following a creditors’ resolution that it should be wound up due to being insolvent. The liquidators began the winding up process on 14 September 2016.
However, under section 915H of the Corporations Act, the Australian financial services licence (AFSL) must continue in effect as though the cancellation has not happened for a period of 12 months from the date of the cancellation in order to assist with the winding up of the scheme.
The AFSL was cancelled on 28 February.