Federal Register of Legislation - Australian Government

Primary content

ASIC Class Order [CO 02/182]

Authoritative Version
CO 02/182 Orders/ASIC Class Orders as made
This Class Order exempts persons from the managed investment, licensing, sharehawking and financial product disclosure provisions of the Corporations Act 2001 where they enter into an agency arrangement for the purposes of letting out a residential or commerical interest in real property other than as part of a serviced strata scheme.
Administered by: Treasury
General Comments: This Class Order was published in the Australian Securities and Investments Commission Gazette on 26 February 2002.
Registered 26 Apr 2007
Gazetted 26 Feb 2002
Date of repeal 28 Sep 2016
Repealed by ASIC Corporations (Repeal) Instrument 2016/898

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraphs 601QA(1)(a), 741(1)(a), 911A(2)(l),
992B(1)(a) and 1020F(l)(a) — Revocation and Exemption

 

1.                    Under paragraphs 601QA(l)(a) and 741(1)(a) of the Corporations Act 2001 (the "Act"), the Australian Securities and Investments Commission ("ASIC") hereby revokes Class Order [00/209].

 

2.                    Under paragraphs 601QA(1)(a), 911A(2)(l), 992B(1)(a) and 1020F(l)(a) of the Act ASIC hereby:

 

(a)      exempts each person referred to in Schedule A in the cases specified in Schedule B from Chapter 5C, sections 992A and 992AA and Part 7.9 of the Act;

(b)      exempts each other person who is a responsible person to whom section 1012A of the Act would apply, from Part 7.9 of the Act in relation to a recommendation that a client acquire an interest in a managed investment scheme referred to in Schedule B; and

 

(c)      exempts all persons from the requirement to hold an Australian financial services licence for the provision of financial services by the person in relation to interests in a managed investment scheme referred to in Schedule B.

 

SCHEDULE A

 

A real estate agent licensed in a State or Territory who operates or promotes a scheme of the kind specified in Schedule B and any registered proprietor of a unit or an interest in real property as described in Schedule B.

 

SCHEDULE B

 

Making offers to issue or sell an interest in, making offers to arrange the issue of an interest in, making a recommendation to acquire an interest in, and operating, a managed investment scheme which consists of an owner or owners (other than owners who acquired their real property interest as a joint owner as part of the scheme) of an interest in real property making their interest in real property available to a real estate agent licensed in a State or Territory for letting purposes (including day to day management of any lease arrangement) other than for use as part of a serviced apartment, hotel, motel or resort complex.

 

 

Commencement

 

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

 

 

 

Dated this 16th day of February 2002

 

 

 

 

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission