Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 98/67]

Authoritative Version
CO 98/67 Orders/ASIC Class Orders as made
This Class Order provides an exemption from the continuous disclosure provisions of the Corporations Law for certain religious, educational, community and other charitable organisations.
Administered by: Treasury
General Comments: This Class Order was originally made under section 111AT of the Corporations Law and is continued in force under section 1399 of the Corporations Act 2001.
Registered 30 May 2007
Gazetted 04 Aug 1998
Date of repeal 16 Dec 2016
Repealed by ASIC Corporations (Repeal) Instrument 2016/1048

Australian Securities and Investments Commission

 

Corporations Law — Subsection 111AT — Exemption

 

Pursuant to section 111AT of the Corporations Law ("the Law") the Australian Securities and Investments Commission ("ASIC") hereby exempts from all disclosing entity provisions in so far as they relate to those securities each person who has been exempted by ASIC from compliance with Chapter 5C of the Law in relation to securities issued or proposed to be issued by a charitable body or the trustee of a charitable body.

 

Interpretation

 

For the purposes of this instrument:

 

"charitable body" means a person who is, or a body or fund which is:

 

(a)                  exempt from income tax by virtue of sections 50-5 or 50-30 of the Income Tax Assessment Act 1997 or provisions which correspond to them; or

 

(b)                  a person, body or fund to whom a gift is an allowable deduction for the purposes of calculating the taxable income of a person making the gift by virtue of section 30-15 Item 1 or 2 of the Income Tax Assessment Act 1997 or provisions which correspond to them; or

 

(c)                  otherwise recognised in law as being constituted for religious, educational, community or other charitable purposes;

 

Dated the 10th day of July 1998

 

 

 

Signed by George Durbridge

as delegate of the Australian Securities and Investments Commission.