ASIC Corporations (Amendment) Instrument 2019/698

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

Dated 28 June 2019

Anthony Graham

Contents

Part 1—Preliminary

1 Name of legislative instrument

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

ASIC Class Order [CO 14/1262]

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2019/698.

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 paragraphs 926A(2)(c), 951B(1)(c) and 1020F(1)(c) of the Corporations Act 2001.

4 Schedules

The instrument specified in Schedule 1 to this instrument is amended as set out in Schedule 1.

Schedule 1—Amendments

ASIC Class Order [CO 14/1262]

1 Paragraph 4A (paragraph (b) of the notional definition of basic banking product in section 910A of the Corporations Act 2001)

Omit “that is related to a basic deposit product”.

2 Paragraph 4A (paragraph (e) of the notional definition of basic banking product in section 910A of the Corporations Act 2001)

Omit “this paragraph”, substitute “paragraph 961F(e)”.

3 Paragraph 6 (subparagraph (a) of the definition of affected term deposit)

Omit “, (da)”.

4 Paragraph 6 (sub-subparagraph (c)(i) of the definition of affected term deposit)

Omit “30 June 2019”, substitute “30 June 2021”.