Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 02/0254]

Authoritative Version
  • - F2006B01186
  • No longer in force
CO 02/254 Orders/ASIC Class Orders as made
This Class Order varies ASIC Class Order [CO 00/214].
Administered by: Treasury
Registered 05 Sep 2006
Gazetted 12 Mar 2002
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013

Australian Securities and Investments Commission

Corporations Act 2001 - Subsection 741(1) - Variation

 

Under subsection 741(1) of the Corporations Act 2001 and with effect from the commencement of Schedule 1 to the Financial Services Reform Act 2001, the Australian Securities and Investments Commission hereby varies Class Order [00/214) by:

 

1.         omitting from the heading the word "Law" and substituting the words "Act 2001";

2.         omitting from the first paragraph:

(a)                the words "Corporations Law (the "Law")" and substituting the words "Corporations Act 2001 (the "Act")"; and

(b)               the word "Law" (third and fourth occurring) and substituting the word "Act";

 

3.         omitting from paragraph (1) of Schedule B the word "Australia" (wherever occurring) and substituting the words "this jurisdiction";

 

4.         omitting paragraph (2) of Schedule B and substituting the following paragraph:

 

" (2)     each offer to which clause (1) refers is or was personal to the offeree and not transferable;";

 

5.         omitting from paragraph (3) of Schedule B the words "ASIC approved stock exchange (the "stock exchange")" and substituting the words "approved foreign market";

 

6.         omitting paragraph (4) of Schedule B and substituting the following paragraph:

 

"(4)      any documentation required in respect of the offers by the law applicable in the jurisdiction of the approved foreign market or the operating rules of that market complies with all those legislative requirements or rules;";

 

7.         omitting from paragraph (5) of Schedule B the word "Australia" (wherever occurring) and substituting the words "this jurisdiction";

 

8.         omitting subparagraph (6)(i) of Schedule B and substituting the following subparagraph:

 

"(i)        the documents have been prepared for the purposes of compliance with the legislative requirements applicable in respect of such offers in the jurisdiction of the approved foreign market and the operating rules of that market;";

 

9.         omitting from subparagraph (6)(ii) of Schedule B the words "Australian law" and substituting the words "the law of this jurisdiction";

 

10.       omitting from subparagraph (6)(iii) of Schedule B the word "Law that apply in Australia" and substituting the words "Act that apply in this jurisdiction"; and

           

11.       omitting all the text between the heading "Interpretation" and the date and substituting the following text:

 

"For the purpose of this exemption:

 

2

 

A reference to an approved foreign market is a reference to any one or more of:

 

(a)        American Stock Exchange, Deutsche Borse, Euronext Amsterdam, Euronext Paris, Italian Exchange, Kuala Lumpur Stock Exchange (Main and Second Boards), London Stock Exchange, New York Stock Exchange, New Zealand Stock Exchange, Singapore Exchange, Stock Exchange of Hong Kong, Swiss Exchange, Tokyo Stock Exchange or Toronto Stock Exchange, provided that unless otherwise expressly stated, if any such market involves more than one board on which securities are quoted, securities shall only be taken to be quoted on that market if quoted on the main board of that market; and

 

(b)        NASDAQ National Market.

 

A reference to the continuous disclosure requirements is a reference to those requirements as described in subsection 111AP(1) of the Act.

 

Note:      In this instrument, "this jurisdiction" means Australia: Act, ss 5 and 9 (definition of "this jurisdiction").".

 

 

Dated this 2nd day of March 2002

 

 

 

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission