Federal Register of Legislation - Australian Government

Primary content

ASIC Class Order [CO 02/1072]

Authoritative Version
CO 02/1072 Orders/ASIC Class Orders as made
This Class Order provides relief from the requirement to provide a Product Disclosure Statement for the acquisition of further interests in the same class in the same managed investments scheme. The relief applies where the investor has previously paid a total of at least $500,000 for the purchase of the same class of interests in the scheme. The relief applies to interests in registered and unregistered schemes.
Administered by: Treasury
General Comments: This Class Order was published in the Australian Securities and Investments Commission Gazette on 11/10/2002.
Registered 14 Feb 2007
Gazetted 11 Oct 2002
Date of repeal 17 Nov 2016
Repealed by ASIC Corporations (Repeal) Instrument 2016/1053

Australian Securities and Investments Commission

Corporations Act 2001 – Subsection 1020F(1) – Exemption

 

Under subsection 1020F(1) of the Corporations Act 2001 (“the Act”), the Australian Securities and Investments Commission hereby exempts an interest in a managed investment scheme from sections 1012A, 1012B and 1012C of the Act where an offer to issue, arrange for the issue of, or to sell, or an issue of, or a recommendation to acquire, the interest is made to a person who holds interests in the same class for which the person has paid at least $500,000.

 

Interpretation

 

In this instrument:

 

1.         “offer” has a meaning affected by subsection 1010C(2) of the Act; and

 

2.         in working out the amount paid for interests, disregard any amount to the extent it was paid out of money lent by the person offering the interests or any associate of that person.

 

 

Dated this 9th day of October 2002

 

 

 

 

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission