(1) A foreign company may at any time appoint a person as a local agent. (2) ASIC must not register a foreign company under this Division unless the foreign company has at least one local agent in relation to whom the foreign company has complied with section 601CG. (3) Where:

(a)

because a person ceased on a particular day to be a local agent of the foreign company, a registered foreign company has no local agent; and

(b)

the foreign company carries on business, or has a place of business, in this jurisdiction;