ASIC Corporations (Offers of Convertibles) Instrument 2016/83

I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date  9 March 2016

Contents

Part 1—Preliminary

1 Name of legislative instrument

2 Commencement

3 Authority

4 Definitions

Part 2—Declaration

4 Securities that are convertible into continuously quoted securities

5 Definition of “underlying securities”

Part 1—Preliminary

1 Name of legislative instrument

This instrument is ASIC Corporations (Offers of Convertibles) Instrument 2016/83.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under section 741 of the Corporations Act 2001.

4 Definitions

In this instrument:

Act means the Corporations Act 2001.

Part 2—Declaration

4 Securities that are convertible into continuously quoted securities

Chapter 6D of the Act applies to all persons as if section 713 were modified or varied as follows:

(a) after paragraph (1)(a) insert:

“(aa) convertible or converting notes or convertible or converting preference shares of a body that are convertible or may convert into continuously quoted securities of the body; or”;

(b)  after paragraph (2)(c) insert:

“(ca) if the securities are convertible or converting notes or convertible or converting preference shares—the rights and liabilities attaching to:

(i) the convertible or converting securities themselves; and

(ii) the underlying securities; and.”.

5 Definition of “underlying securities”

Chapter 6D of the Act applies to all persons as if the definition of underlying securities in section 9 of the Act were modified or varied by, after paragraph (a), inserting:

“(aa) in relation to convertible or converting notes or convertible or converting preference shares—those securities into which the convertible or converting securities may be converted; and”.