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ASIC Class Order [CO 00/0214]

Authoritative Version
CO 00/0214 Orders/ASIC Class Orders as amended, taking into account amendments up to ASIC Class Order [CO 07/300]
Administered by: Treasury
Registered 30 Aug 2012
Start Date 02 Jul 2007
End Date 02 Sep 2015
Date of repeal 02 Sep 2015
Repealed by ASIC Corporations (Repeal) Instrument 2015/363

ASIC Class Order [CO 00/214]

Foreign securities: listed foreign companies making 20 or fewer offers in Australia in 12 months

This instrument has effect under s741(1) of the Corporations Act 2001.

This compilation was prepared on 14 January 2008 taking into account amendments up to [CO 07/300]. See the table at the end of this class order.

Prepared by the Australian Securities and Investments Commission.

Australian Securities and Investments Commission
Corporations Act 2001 — Subsection 741(1) — Exemption

Pursuant to subsection  741(1) of the Corporations Act (the “Act”) the Australian Securities and Investments Commission (“ASIC”) exempts the person specified in Schedule A in the case specified in Schedule B from all of the provisions of Parts 6D.2 and 6D.3 of the Act other than subsections  736 and  738 of the Act.

SCHEDULE A

Any foreign company (the “Company”)

SCHEDULE B

Any offer of securities in the Company (the “securities”) for issue where:

(1)   the person to whom the offer is made and each other person to whom an offer in relation to securities in the same class as the securities is issued or made in this jurisdiction at the same time, or has been made or issued in this jurisdiction within the preceding 12 months do not together exceed 20 in number;

(2)   each offer to which clause (1) refers is or was personal to the offeree and not transferable;

(3)   the securities are in the same class as securities which at the time of the offer are quoted on an approved foreign market and trading in which is not suspended;

(4)   any documentation required in respect of the offers by the law applicable in the jurisdiction of the approved foreign market or the operating rules of that market complies with all those legislative requirements or rules;

(5)   a copy of each document pertaining to the offers generally made available to offerees outside this jurisdiction is provided to each person to whom an offer is made in this jurisdiction (the “Australian offerees”) and, where those documents are not in English, certified English translations are provided; and

(6)   each copy of any document provided to Australian offerees in compliance with clause (5) includes or is accompanied by a written statement to the effect that:

(i)    the documents have been prepared for the purposes of compliance with the legislative requirements applicable in respect of such offers in the jurisdiction of the approved foreign market and the operating rules of that market;

(ii)   the documents may not contain all the information  required to be contained in disclosure documents under the law of this jurisdiction;

(iii)  the Company is not subject to the continuous disclosure requirements of the Act that apply in this jurisdiction.

Interpretation

For the purpose of this exemption:

A reference to an approved foreign market is a reference to any one or more of the following financial markets:

(a)   American Stock Exchange;

(b)   Borsa Italiana;

(c)   Bursa Malaysia Main Board and Bursa Malaysia Second Board;

(d)   Euronext Amsterdam;

(e)   Euronext Paris;

(f)   Frankfurt Stock Exchange;

(g)   Hong Kong Stock Exchange;

(h)   JSE;

(i)    London Stock Exchange;

(j)    NASDAQ Stock Market;

(k)   New York Stock Exchange;

(l)    New Zealand Exchange;

(m)  Singapore Exchange;

(n)   SWX Swiss Exchange;

(o)   Tokyo Stock Exchange;

(p)    Toronto Stock Exchange.

A reference to the continuous disclosure requirements is a reference to those requirements as described in subsection 111AP(1) of the Act.

Note: In this instrument, “this jurisdiction” means Australia: Act, ss 5 and 9 (definition of “this jurisdiction”).

Notes to ASIC Class Order [CO 00/214]

Note 1

ASIC Class Order [CO 00/214] (in force under s741(1) of the Corporations Act 2001) as shown in this compilation comprises that Class Order amended as indicated in the tables below.

Table of Instruments

Instrument number

Date of making or FRLI registration

Date of commencement

Application, saving or transitional provisions

[CO 00/214]

26/2/2000 (see F2006B01174)

26/2/2000

 

[CO 02/254]

2/3/2002 (see F2006B01186)

11/3/2002

-

[CO 05/770]

7/10/2005 (see F2005L03044)

7/10/2005

-

[CO 07/300]

2/7/2007 (see F2007L02064)

2/7/2007

-

Table of Amendments

ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted

Provision affected

How affected

Class Order.................

am. [CO 02/254]

Sch B Para 1...............

am. [CO 02/254]

Sch B Para 2...............

ad. [CO 02/254]

Interpretation...............

rs. [CO 02/254]

 

am. [CO 05/770] and [CO 07/300]