Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 02/0141]

Authoritative Version
CO 02/0141 Orders/ASIC Class Orders as made
This Class Order provides conditional relief from the consent requirement in section 1013K of the Corporations Act 2001 for some statements included in a product disclosure statement. To obtain relief the statement must be: (1) made by an official person; or (2) contained in a public official document; or (3) already published in a book, journal or comparable material and not made in connection with the offeror or its business, or the promotion or any property to be acquired by the subject of the product disclosure statement.
Administered by: Treasury
General Comments: This Class Order was published in the Australian Securities and Investments Commission Gazette on 19/02/2002.
Registered 14 Feb 2007
Gazetted 19 Feb 2002
Date of repeal 17 Mar 2016
Repealed by ASIC Corporations (Repeal) Instrument 2016/171
Table of contents.

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraph 1020F(1)(a) — Exemption

 

Under paragraph 1020F(1)(a) of the Corporations Act 2001 (the “Act”), the Australian Securities and Investments Commission hereby exempts persons included in the class of persons mentioned in the Schedule from subsection 1013K(1) of the Act in relation to the statements mentioned in the Schedule, to the extent that subsection 1013K(1) prohibits the inclusion of those statements in a Product Disclosure Statement unless:

 

(a)        the person who made that statement or another statement on which that statement is said to be based has consented to the statement being included in the Product Disclosure Statement; and

 

(b)        the Product Disclosure Statement states that the person has given their consent.

 

SCHEDULE

The responsible person in relation to a Product Disclosure Statement for a financial product which contains a statement which:

 

1          fairly represents what purports to be a statement made by an official person; or

 

2          is a correct and fair copy of, or extract from, what purports to be a public official document; or

 

3          is a correct and fair copy of, or an extract from, a statement which:

 

(a)        has already been published in a book, journal or comparable publication; and

 

(b)        was not made in connection with the responsible person, their business, or the promotion the subject of the Product Disclosure Statement or any property to be acquired by the responsible person which is the subject of the Product Disclosure Statement.

 

Commencement

This exemption takes effect on the commencement of Schedule 1 to the Financial Services Reform Act 2001.

 

Dated the 5th day of February 2002

 

 

 

 

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