Federal Register of Legislation - Australian Government

Primary content

ASIC Class Order [CO 07/91]

Authoritative Version
  • - F2007L00342
  • No longer in force
CO 07/91 Orders/ASIC Class Orders as made
This Class Order amends ASIC Class Order [CO 03/104] to replace outdated references that no longer apply to time-sharing interests.
Administered by: Treasury
Registered 13 Feb 2007
Tabling HistoryDate
Tabled HR14-Feb-2007
Tabled Senate26-Feb-2007
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013

Australian Securities and Investments Commission

Corporations Act 2001 — Paragraph 601QA(1)(a) — Variation

 

Enabling legislation

 

1.       The Australian Securities and Investments Commission (ASIC) makes the variations set out in this instrument under paragraph 601QA(1)(a) of the Corporations Act 2001.

 

Title

 

2.         This instrument is ASIC Class Order [CO 07/91].

 

Commencement

           

3.         This instrument commences on the date it is registered under the Legislative Instruments Act 2003.

 

Note:       An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register). The FRLI may be accessed at http://www.frli.gov.au/.

 

Variation

 

4.         ASIC Class Order [CO 03/104] is varied by:

 

(a)        in Schedule A omitting paragraph 2 and the note under it and substituting:

 

“2.       The responsible entity must use reasonable endeavours to sell the forfeited interest:

 

(a)        if a Product Disclosure Statement has been given in accordance with Part 7.9 of the Act during the last 12 months for interests in the Scheme in the same class as the forfeited interest — at the price shown in the statement most  recently given; or

 

(b)        if no such Product Disclosure Statement has been given during the last 12 months — at a fair market price obtained by the responsible entity using reasonable endeavours.”; and

 

(b)        in Schedule B omitting “or prospectus”.

 

Dated the 8th day of February 2007

 

 

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