Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 04/100]

Authoritative Version
  • - F2006B00914
  • No longer in force
CO 04/100 Orders/ASIC Class Orders as made
This Class Order makes minor technical amendments to ASIC Class Order [CO 03/1099], [CO 03/1100], [CO 03/1101], [CO 03/1102] and [CO 03/1103] that granted relief from the requirement to hold an Australian financial services licence for wholesale foreign financial services providers regulated by the Financial Services Authority of the United Kingdom, the Securities and Exchange Commission of the United States, the Federal Reserve and Office of Comptroller of Currency of the United States, the Monetary Authority of Singapore and the Hong Kong Securities and Futures Exchange.
Administered by: Treasury
Registered 12 Jul 2006
Gazetted 17 Feb 2004
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013

Australian Securities and Investments Commission

Corporations Act 2001 – Paragraph 911A(2)(l) – Variation

 

Under paragraph 911A(2)(l) of the Corporations Act 2001 the Australian Securities and Investments Commission varies Class Orders [CO 03/1099], [CO 03/1100], [CO 03/1101], [CO 03/1102] and [CO 03/1103] as follows:

 

1.                  in the introductory words of Schedule A, omit "body corporate", substitute "foreign company";

2.                  in subparagraph (a)(iii) of Schedule A of Class Order [CO 03/1101]:

(a)        after "corporation" (first occurring), insert "(an Edge corporation")";     and

(b)        omit "such a corporation", substitute "an Edge corporation";

3.                  in Schedule A, insert after paragraph (a):

(a)        in the case of Class Order [CO 03/1099]:

"(aa)     the body is either a body corporate incorporated in the UK or a partnership formed in the UK;";

(b)               in the case of Class Order [03/1100]:

"(aa)     the body is either:

(i)         a body corporate incorporated in the US or a State of the US; or

(ii)        a partnership formed in the US or a State of the US;";

(c)                in the case of Class Order [03/1101]:

"(aa)     except in the case of a subsidiary of an Edge corporation, the body is either:

(i)         a body corporate incorporated in the US or a State of the US; or

(ii)        a partnership formed in the US or a State of the US;";

(d)               in the case of Class Order [CO 03/1102]:

"(aa)     the body is either a body corporate incorporated in Singapore or a partnership formed in Singapore;"; and

(e)                in the case of Class Order [CO 03/1103]:

"(aa)     the body is either a body corporate incorporated in Hong Kong or a partnership formed in Hong Kong;";

4.                  in paragraph (b) of Schedule A, omit the introductory words, substituted "the body:";

5.                  in paragraph 2(b) of Schedule C:

(a)        at the end of subparagraph (i), add "and";

(b)               in subparagraph (ii):

(i)                  omit "financial services are", substitute "body is"; and

(ii)                omit "laws; and", substitute "laws."; and

(c)                omit subparagraph (iii); and

6.                  after the definition of wholesale client under the heading "Interpretation" insert:

"Note:    By subsection 761H(1) of the Act, the operation of this instrument in relation to partnerships is affected by section 761F and subsection 769B(4) of the Act.".

 

Commencement

 

This instrument takes effect on gazettal.

 

Dated this 4th day of February 2004.

 

 

 

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission