Federal Register of Legislation - Australian Government

Primary content

ASIC Class Order [CO 07/189]

Authoritative Version
CO 07/189 Orders/ASIC Class Orders as made
This Class Order exempts a person who operates a management rights scheme from the requirement to register the scheme as a managed investment scheme under Chapter 5C of the Corporations Act 2001 (the Act) in circumstances where ASIC has issued an instrument that exempts interests in the scheme from certain requirements of Chapter 7 of the Act in substantially the same terms as ASIC Pro Forma 187.
Administered by: Treasury
Registered 04 Apr 2007
Tabling HistoryDate
Tabled HR08-May-2007
Tabled Senate09-May-2007
Date of repeal 28 Sep 2016
Repealed by ASIC Corporations (Repeal) Instrument 2016/898

Australian Securities and Investments Commission

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

 

 

Enabling legislation

 

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

 

Title

 

2.            This instrument is ASIC Class Order [CO 07/189].

 

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/.

 

Exemption

 

4.            A person who operates a managed investment scheme which involves an owner of real property that may not lawfully be used as a residence, in the owner’s discretion, making that real property available for use by a person as part of a serviced apartment, hotel, motel or resort complex, does not have to comply with section 601ED of the Act.  This exemption only applies where the interests in the scheme are exempt from:

 

(a)     Part 7.6 of the Act (other than Divisions 4 and 8); and

 

(b)     section 992AA of the Act; and

 

(c)     section 1017F of the Act;

 

because of an instrument in substantially the same terms as ASIC Pro Forma 187 (as at the date the instrument was made).

 

 

 

Dated this 30th day of March 2007

 

 

 

 

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission