ASIC Corporations (Amendment and Repeal) Instrument 2017/848

I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 21 September 2017

Anthony Graham

Contents

Part 1—Preliminary

1 Name of legislative instrument

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

ASIC Class Order [CO 13/760]

ASIC Class Order [CO 13/761]

Schedule 2—Repeal

ASIC Class Order [CO 07/74]

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Amendment and Repeal) Instrument 2017/848.

2 Commencement

This instrument commences on the later of:

(a) the date of its gazettal; and

(b)   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 paragraphs 911A(2)(l) and 926A(2)(c) of the Corporations Act 2001.

4 Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned.

Schedule 1—Amendments

ASIC Class Order [CO 13/760]

1 Paragraph 4 (after notional subsection 912AA(2))

Insert:

“(2A) This section applies to a financial services licensee (manager) that is covered by subsection (1) and holds an Australian financial services licence that:

(a) authorises the manager to provide wholesale equity financial services (within the meaning of the ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849 (ASIC Instrument)); and

(b) contains conditions to the effect of the conditions referred to in subparagraph 6(a)(ii) of the ASIC Instrument);

as if the assets, liabilities, cash inflows and cash outflows of any eligible trustee were included in the assets, liabilities, cash inflows and cash outflows of the manager.

(2B) In subsection (2A), eligible trustee means a person who is both:

(a) an eligible trustee of a wholesale equity scheme (within the meaning of the ASIC Instrument);

(b) a related body corporate of the manager.”.

ASIC Class Order [CO 13/761]

2 Paragraph 4 (after notional subsection 912AC(2))

Insert:

“(2A) This section applies to a financial services licensee (manager) that is covered by subsection (1) and holds an Australian financial services licence that:

(a) authorises the manager to provide wholesale equity financial services (within the meaning of the ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849 (ASIC Instrument)); and

(b) contains conditions to the effect of the conditions referred to in subparagraph 6(a)(ii) of the ASIC Instrument;

as if the assets, liabilities, cash inflows and cash outflows of any eligible trustee were included in the assets, liabilities, cash inflows and cash outflows of the manager.

(2B) In subsection (2A), eligible trustee means a person who is both:

(a) an eligible trustee of a wholesale equity scheme (within the meaning of the ASIC Instrument);

(b) a related body corporate of the manager.”.

Schedule 2—Repeal

ASIC Class Order [CO 07/74]

1 The whole of the instrument

Repeal the instrument.