This is the ASIC Corporations and Credit (Amendment and Repeal) Instrument 2022/1032.

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.

This instrument is made under:

(a) subsection 6(17) of the National Credit Code; and

(b) subsections 601QA(1), 926A(2), 951B(1), 992B(1) and 1020F(1) of the Corporations Act 2001.

Note: The National Credit Code is found in Schedule 1 to the National Consumer Credit Protection Act 2009.

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

ASIC Corporations (Disclosure in Dollars) Instrument 2016/767

1 Section 4

Repeal the section, substitute:

4 Definitions

In this instrument:

Act means the Corporations Act 2001.

providing entity has the meaning given in section 944A of the Act.

responsible person has the meaning given in subsection 1013A(3) of the Act.

warrant has the meaning given by subregulation 1.0.02(1) of the Corporations Regulations 2001.

2 Section 8

Repeal the section.

ASIC Credit (Litigation Funding-Exclusion) Instrument 2020/37

3 Subsection 5(2)

Omit “31 January 2023”, substitute “31 January 2026”.

ASIC Corporations (Conditional Costs Schemes) Instrument 2020/38

4 Subsection 5(b)

Omit “(ma)”, substitute “(mb)”.

5 Subsection 5(b) (notional paragraph (maa) of the definition of managed investment scheme)

Omit “(maa)”, substitute “(mba)”.

6 Subsection 5(b) (notional paragraph (mab) of the definition of managed investment scheme)

Omit “(mab)”, substitute “(mbb)”.

7 Section 10

Omit “31 January 2023”, substitute “31 January 2026”.

Schedule 2—Repeals

ASIC Corporations (Litigation Funding Schemes) Instrument 2020/787

1 The whole of the instrument

Repeal the instrument.