ASIC Corporations (Amendment) Instrument 2019/599

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

Date 20 June 2019

Contents

Part 1—Preliminary

1 Name of legislative instrument

2 Commencement

3 Authority

4 Schedule

Schedule 1—Amendments

ASIC Class Order [CO 14/1252]

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2019/599.

2 Commencement

This instrument commences on the later of:

(a) 1 July 2019;

(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 subsection 1020F(1) of the Corporations Act 2001.

4 Schedule

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

Schedule 1—Amendments

ASIC Class Order [CO 14/1252]

1 Sub-subparagraph 6(f)(ia) (definition of administration fee)

Omit “an exit fee,”

2 Sub-subparagraph 6(f)(ib) (definition of investment fee)

Omit “an exit fee,”

3 Sub-subparagraph 6(fa)(v)

Omit, substitute:

(v) omit the note below the table, substitute:

“Note: * Additional fees may apply.”;  

4 Subparagraph 6(k)

 Omit “paragraph 303(1)(b),”, substitute “paragraph 303(1)(c),”

5 Subparagraph 6(k) (notional paragraph 303(1)(c))

Omit “(c)”, substitute “(d)”

6 Subparagraph 6(k) (notional paragraph 303(1)(d))

Omit “(d)”, substitute “(e)”

7 Paragraph 6A

Omit, substitute:

6A. In Schedule 10D to the Regulations, omit paragraph 8(6A)(a), substitute:

(a) apply, adopt or incorporate the definitions in relation to fees mentioned in subsection 99BA(2) of the SIS Act or clause 209A of Schedule 10 and, for an insurance fee, as mentioned in subsection 29V(9) of the SIS Act; and