Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 09/1084]

Authoritative Version
  • - F2009L04660
  • No longer in force
CO 09/1084 Orders/ASIC Class Orders as made
This Class Order varies ASIC Class Order [CO 07/428] and ASIC Class Order [CO 07/429] to remove notional provisions inserted into the Act that allow an issuer to cite a credit rating from Standard & Poor’s, Moody’s Investor Service and Fitch Ratings in disclosure documents, PDSs, target's statements and bidder's statements without the consent of those credit rating agencies.
Administered by: Treasury
General Comments: Transitional: The variations made by this instrument do not apply to: (a) a disclosure document; (b) a Product Disclosure Statement; (c) a bidder’s statement; (d) a target’s statement, that is dated before 1 January 2010.
Registered 21 Dec 2009
Tabling HistoryDate
Tabled HR02-Feb-2010
Tabled Senate02-Feb-2010
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013

 

Australian Securities and Investments Commission

Corporations Act 2001 — Subsections 655A(1), 741(1) and 1020F(1) — Variation

 

Enabling legislation

 

1.       The Australian Securities and Investments Commission makes this instrument under subsections 655A(1), 741(1) and 1020F(1) of the Corporations Act 2001.

 

Title

 

2.       This instrument is ASIC Class Order [CO 09/1084].

 

Commencement

 

3.       This instrument commences on the later of:

 

(a)     the date the instrument is registered under the Legislative Instruments Act 2003; and

 

(b)     1 January 2010.

 

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 www.frli.gov.au.

 

Variation

 

ASIC Class Order [CO 07/428]

 

4.       ASIC Class Order [CO 07/428] is varied as follows:

 

(a)     in paragraph 4(b):

 

(i)      omit notional subsection 716(3) of the Act (including the heading); and

 

(ii)     in notional subsection 716(6) of the Act omit the definitions of credit rating and credit rating reference;

 

(b)     in paragraph 5(b):

 

(i)      omit notional subsection 1013K(3) of the Act (including the heading); and

 

(ii)     in notional subsection 1013K(6) of the Act omit the definitions of ADI equities warrant, credit rating and credit rating reference.

 

ASIC Class Order [CO 07/429]

 

5.       ASIC Class Order [CO 07/429] is varied as follows:

 

(a)     in paragraph 4(b):

 

(i)      omit notional subsection 636(4A) of the Act (including the heading); and

 

(ii)     in notional subsection 636(4D) of the Act omit the definitions of credit rating and credit rating reference;

 

(b)     in paragraph 5(b):

 

(i)      omit notional subsection 638(6A) of the Act (including the heading); and

 

(ii)     in notional subsection 638(6D) of the Act omit the definitions of credit rating and credit rating reference.

 

Transitional

 

6.       The variations made by this instrument do not apply to:

 

(a)     a disclosure document;

 

(b)     a Product Disclosure Statement;

 

(c)     a bidder’s statement;

 

(d)     a target’s statement,

 

that is dated before 1 January 2010.

 

 

Dated this 15th day of December 2009

 

 

 

 

Signed by Stephen Yen PSM

as a delegate of the Australian Securities and Investments Commission