Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 98/2017]

Authoritative Version
  • - F2006B00222
  • No longer in force
CO 98/2017 Orders/ASIC Class Orders as made
This Class Order varies ASIC Class Order [CO 98/1418] to provide relief from the requirement to appoint an auditor in some circumstances. It also varies ASIC Class Order [CO 98/1416].
Administered by: Treasury
General Comments: This Class Order was originally made under subsection 341(1) of the Corporations Law and regulation 2M.6.02 of the Corporations Regulations and is continued in force under section 1399 of the Corporations Act 2001. This Class Order was published in the Australian Securities and Investments Commission Gazette on 1 December 1998.
Made 30 Oct 1998
Registered 14 Sep 2006
Gazetted 01 Dec 1998
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013

 

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION
SUBSECTION 341(1) CORPORATIONS LAW
CLASS ORDER

 

PURSUANT to subsection 341(1) of the Corporations Law ("the Law") and regulation 2M.6.02 of the Corporations Regulations the AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ("ASIC") HEREBY MAKES THE FOLLOWING ORDERS:

 

First Order

 

This order varies ASIC Class Order 98/1418 dated 13 August 1998 by:

 

(i)                    Inserting the words "and regulation 2M.6.02 of the Corporations Regulations" after the words "("the Law")" in the first paragraph;

 

(ii)                  Deleting the word "and" appearing at the end of the fourth subparagraph in the first paragraph;

 

(iii)                 Replacing the comma at the end of the fifth subparagraph in the first paragraph with "; and"; and

 

(iv)                Inserting the following subparagraph at the end of the first paragraph:

 

"-         Subsections 327(1) to (5) (the requirement for a company, other than a proprietary company, to appoint an auditor) provided that the Entity is:

 

(i)                    a wholly-owned subsidiary of a body corporate as defined in section 9 of the Law; or

 

(ii)                 a related body corporate of an Australian bank,".

 

Second Order

 

This order varies ASIC Class Order 98/1416 dated 29 July 1998 by:

 

(i)                      Inserting "and s.304" immediately after "s.296(1)"; and

 

(ii)                     Inserting "in respect of the immediately preceding half-year or the immediately preceding financial year" immediately after the words "disclosing entity" in subparagraph (a)(ii).

 

Dated the 30th day of October 1998

 

 

 

Signed by George Durbridge

as delegate of the Australian Securities and Investments Commission