Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 00/0005]

Authoritative Version
CO 00/0005 Orders/ASIC Class Orders as made
This Class Order modifies the Corporations Law to allow the responsible entity of certain registered managed investment schemes to apply to have the scheme deregistered where on deregistration it will be an investor directed portfolio service in relation to which an operator will be eligible for exemption from the managed investments provisions under ASIC Class Order [CO 00/1].
Administered by: Treasury
General Comments: This Class Order was originally made under paragraph 601QA(1)(b) of the Corporations Law and is continued in force under section 1399 of the Corporations Act 2001.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 4 April 2000.
Registered 19 Jan 2007
Gazetted 04 Apr 2000
Date of repeal 15 Sep 2015
Repealed by ASIC Redundant Class Orders (Amendment and Repeal) Instrument 2015/826

Australian Securities and Investments Commission

Corporations Law

Paragraph 601QA(1)(b) - Modification

 

Under paragraph 601QA(1)(b) of the Corporations Law (“the Law”) the Australian Securities and Investments Commission hereby declares that section 601PA of the Law applies in relation to the persons referred to in the Schedule as if it was modified or varied as follows:

1.   In paragraph 601PA(2)(c) omit “scheme.” and substitute “scheme; or”; and

2.   After paragraph 601PA(2)(c) add the following paragraph:

“(d)   on deregistration the scheme will be an IDPS for the purposes of ASIC Class Order [00/1] in relation to which the operator will be eligible for exemption from Chapter 5C under that Class Order.”.

 

Schedule

Any person that is the responsible entity of a registered scheme where:

(a)  a member may direct that an amount of money corresponding to part or all of the amount invested by the member in the scheme be invested in specified securities; and

(b)  the distributions of capital and income from the scheme to the member in relation to their interests in the scheme will be determined by reference to amounts received by the custodian in relation to the specified securities acquired in accordance with that direction.

 

Dated the 31st day of January 2000

 

 

Signed by Brendan Byrne
as delegate of the Australian Securities and Investments Commission