ASIC Corporations (Amendment) Instrument 2019/1145

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

Date 8 November 2019

Grant Moodie

Contents

Part 1—Preliminary

1 Name of legislative instrument

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

ASIC Corporations (Professional Standards—Transitional) Instrument 2018/894

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2019/1145.

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 subsection 926A(2) of the Corporations Act 2001.

4 Schedules

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

Schedule 1—Amendments

ASIC Corporations (Professional Standards—Transitional) Instrument 2018/894

1 Section 4

Insert the following definition in the appropriate alphabetical order:

compliance scheme has the meaning given by section 921G of the Act.

2 At the end of the instrument

Add:

Part 3—Exemption

13 Suspension of compliance scheme framework

(1) A financial services licensee does not have to comply with:

(a) section 921H of the Act; or

(b) sections 922D, 922E, 922F, 922L and 1546W of the Act to the extent those sections impose an obligation on a financial services licensee to lodge a notice with ASIC in relation to a compliance scheme.

(2) Subsection (1) applies until 31 October 2022.