Federal Register of Legislation - Australian Government

Primary content

ASIC Class Order [CO 08/506]

Authoritative Version
CO 08/506 Orders/ASIC Class Orders as amended, taking into account amendments up to ASIC Class Order [CO 12/1267]
Administered by: Treasury
Registered 04 Oct 2012
Start Date 25 Sep 2012
Date of repeal 01 Oct 2018
Repealed by Sunsetting

ASIC Class Order [CO 08/506]

Hong Kong collective investment schemes

This instrument has effect under s601QA(1)(a), 741(1)(a), 741(1)(b), 911A(2)(l), 1020F(1)(a) and 1020F(1)(c) of the Corporations Act 2001.

This compilation was prepared on 25 September 2012 taking into account amendments up to [CO 12/1267]. 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 — Paragraphs 601QA(1)(a), 741(1)(a), 741(1)(b), 911A(2)(l), 1020F(1)(a) and 1020F(1)(c) — Exemptions and Declaration

Enabling legislation

1.    The Australian Securities and Investments Commission (ASIC) makes this instrument under paragraphs 601QA(1)(a), 741(1)(a), 741(1)(b), 911A(2)(l), 1020F(1)(a) and 1020F(1)(c) of the Corporations Act 2001 (the Act).

Title

2.    This instrument is ASIC Class Order [CO 08/506].

Commencement

3.    This instrument commences on the later of:

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

(b)   the date of its gazettal.

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/.

Managed investment schemes and their operators covered by this instrument

4.    A managed investment scheme that is not registered under section 601EB of the Act is an eligible FCIS for this instrument as long as all of the following apply:

(a)   the scheme is authorised by the SFC under subsection 104(1) of the SFO;

(b)   having regard to all offers of interests in the scheme that have been made at any time (whether in this jurisdiction or elsewhere), promotion of membership of the scheme has not been principally aimed at persons in this jurisdiction and there is no reason to believe that the management company of the scheme intends that promotion of membership of the scheme will be principally aimed at persons in this jurisdiction; and

(c)   none of the scheme, the management company or the trustee of the scheme is covered by an exemption or other relief (however described or effected) from the Hong Kong regulatory requirements because the scheme, company or trustee is also regulated elsewhere.

Note:    A variety of exemptions and other relief (including compliance waivers, provisions deeming compliance, and the application of different authorisation processes) are available in Hong Kong in relation to schemes that are regulated elsewhere.  As a result of paragraph (c), if a scheme or its management company or trustee is covered by one or more of these exemptions or other relief the scheme is not an eligible FCIS.

5.    A foreign company that is the management company of an eligible FCIS is an exempt manager for this instrument as long as both of the following apply:

(a)   the company is registered under Division 2 of Part 5B.2 of the Act;

 (b)  the company satisfies the requirements in Schedule A — Entry and ongoing eligibility requirements.

6.    A foreign company that is the trustee of an eligible FCIS is an exempt trustee for this instrument as long as the company satisfies the requirements in Schedule A — Entry and ongoing eligibility requirements.

7.    Both an exempt manager of an eligible FCIS and an exempt trustee of an eligible FCIS are exempt operators of the eligible FCIS.

Mutual fund corporations covered by this instrument

8.    A foreign company is an eligible MFC for this instrument as long as all of the following apply:

(a)   the foreign company is authorised by the SFC under subsection 104(1) of the SFO;

(b)   having regard to all offers of shares in the foreign company that have been made at any time (whether in this jurisdiction or elsewhere), promotion of membership of the foreign company has not been principally aimed at persons in this jurisdiction and there is no reason to believe that the foreign company intends that promotion of membership of the foreign company will be principally aimed at persons in this jurisdiction;

(c)   none of the foreign company or the management company or the custodian appointed by the foreign company is covered by an exemption or other relief (however described or effected) from the Hong Kong regulatory requirements because the foreign company, management company or custodian is also regulated elsewhere.

Note:    A variety of exemptions and other relief (including compliance waivers, provisions deeming compliance, and the application of different authorisation processes) are available in Hong Kong in relation to foreign companies that are regulated elsewhere.  As a result of paragraph (c), if a foreign company or its management company or custodian is covered by one or more of these exemptions or other relief the foreign company is not an eligible MFC.

9.    An eligible MFC is also an exempt manager for this instrument if both of the following apply:

(a)   the eligible MFC is registered under Division 2 of Part 5B.2 of the Act;

(b)   the eligible MFC satisfies the requirements in Schedule A — Entry and ongoing eligibility requirements.


RELIEF IN RELATION TO AN ELIGIBLE FCIS

Relief from the requirement to register a managed investment scheme

10.  An exempt operator of an eligible FCIS does not have to comply with section 601ED of the Act in relation to the eligible FCIS.

 

Relief from the requirement to obtain an AFSL

11.  An exempt operator of an eligible FCIS does not have to hold an Australian financial services licence for the provision of the following financial services:

(a)   dealing in financial products in the ordinary course of the operation of the eligible FCIS other than by issuing financial products;

(b)   dealing in derivatives or foreign exchange contracts for the purpose of managing a financial risk to the eligible FCIS that arises in the ordinary course of the operation of the eligible FCIS (provided dealings in derivatives or foreign exchange contracts with persons in this jurisdiction are not a significant part of the exempt operator’s business);

(c)   providing a custodial or depository service by holding assets of the eligible FCIS.

Relief from the financial product disclosure requirements

12.  An exempt operator of an eligible FCIS does not have to comply with Part 7.9 of the Act (except for sections 1017G, 1018A, 1020E and 1020F) in relation to an interest in the eligible FCIS.

13.  A regulated person (other than an exempt operator) does not have to give a Product Disclosure Statement under sections 1012A to 1012C or section 1012IA of the Act in relation to an interest in an eligible FCIS where the person instead gives a Hong Kong offering document covering the interest.  This paragraph does not apply in relation to an offer to sell an interest in an eligible FCIS that is covered by paragraph 14.

14.  A regulated person does not have to comply with section 1012C of the Act where:

(a)   the person offers to sell an interest in an eligible FCIS within 12 months after the issue of the interest; and

(b)   a Hong Kong offering document was given to the person to whom the interest was issued at or before the time of the issue.

Modification in relation to financial product disclosure

15.  Part 7.9 of the Act applies in relation to an exempt operator of an eligible FCIS as if section 1018A were modified or varied as follows:

(a)   omit “Product Disclosure Statement” (wherever occurring, including the heading to the section and any subsection), substitute “Hong Kong offering document”;

(b)   in subsection (1) omit “applies or will apply,”, substitute “applies or will apply but for an exemption under paragraph 1020F(1)(a),”;

(c)   in subparagraph (1)(c)(ii) omit “applies or will apply—”, substitute “applies or will apply but for an exemption under paragraph
1020F(1)(a)—”;

(d)   in subsection (2) omit “will apply,”, substitute “will apply but for an exemption under paragraph 1020F(1)(a),”;

(e)   in subparagraph (2)(c)(ii) omit “will apply—”, substitute “will apply but for an exemption under paragraph 1020F(1)(a)—”;

(f)   in subparagraph (4)(d)(ii) omit “Statement”, substitute “offering document”;

(g)   after subsection (6) insert:

“(7) In this section, Hong Kong offering document means a document that is:

(a)   represented (by statements in, or in a document prepared by the issuer accompanying, the document) to be an offering document complying, at the time it is given to a person, with the Code on Unit Trusts and Mutual Funds issued by the Securities and Futures Commission (the SFC) of Hong Kong; and

(b)   either:

(i)      authorised by the SFC under section 105 of the Securities and Futures Ordinance, (Cap 571) of Hong Kong; or

(ii)     substantially the same as a document that has been so authorised but for the addition of information to satisfy the requirements of an instrument made under section 1020F.”.     

16.  Part 7.9 of the Act applies in relation to an exempt operator of an eligible FCIS as if section 1020E were modified or varied as follows:

 (a)  after subparagraph (1)(a)(i) insert:

“(iaa) a Hong Kong offering document is defective (see subsection (11)); or”;

 (b)  in paragraphs (2)(a) and (7)(b), after “document,”, insert “offering document,”;

(c)   in subsection (11):

 (i)   in the definition of defective after paragraph (a), insert:

“(aa)    in relation to a Hong Kong offering document—means there is a misleading or deceptive statement in, or a document prepared by the issuer accompanying, the offering document; and”; and

 (ii)      after the definition of disclosure document or statement, insert:

 “Hong Kong offering document has the same meaning as in subsection 1018A(7).”.


RELIEF IN RELATION TO AN ELIGIBLE MFC

Relief from the fundraising requirements

17.  An eligible MFC does not have to comply with Parts 6D.2 and 6D.3 of the Act (except for section 734) in relation to shares in the eligible MFC.

18.  A person does not have to comply with Parts 6D.2 and 6D.3 of the Act where:

(a)   the person offers to sell shares in an eligible MFC within 12 months after the issue of the shares; and

(b)   the eligible MFC issued the shares under an offer that was included in or accompanied by a Hong Kong offering document.

Modification in relation to fundraising

19.  Chapter 6D of the Act applies to an eligible MFC as if section 734 were modified or varied as follows:

(a)   in subsection (1) omit “months).”, substitute “months) or an exemption under paragraph 741(1)(a).”;

(b)   in subsection (2) (introductory words) omit “document,”, substitute “document, but for an exemption under paragraph 741(1)(a),”;

(c)   in the heading to subsection (4) omit “disclosure document”, substitute “Hong Kong offering document”;

(d)   in subsection (4) omit “disclosure document that has been lodged with ASIC”, substitute “Hong Kong offering document”;

(e)   in the heading to subsection (5) omit “disclosure document is lodged”, substitute “Hong Kong offering document is given to ASIC”;

(f)   in subsection (5) (introductory words) omit “the disclosure document is lodged,”, substitute “a Hong Kong offering document for the offer, intended offer or a previous offer of shares in the same class is or has been given to ASIC,”;

(g)   in subparagraph (5)(a)(ii) omit “will apply—”, substitute “will apply but for an exemption under paragraph 741(1)(a)—”;

(h)   in paragraphs (5)(a) and (b) omit “disclosure document” (wherever occurring), substitute “Hong Kong offering document”;

(i)    in the heading to subsection (6) omit “disclosure document is lodged”, substitute “Hong Kong offering document is given to ASIC”;

(j)    in subsection (6) (introductory words) omit “the disclosure document is lodged,”, substitute “a Hong Kong offering document for the offer, intended offer or a previous offer of shares in the same class is or has been given to ASIC,”;

(k)   in subparagraph (6)(a)(ii) omit “applies or will apply—”, substitute “applies or will apply but for an exemption under paragraph 741(1)(a)—”;

(l)    in paragraphs (6)(b) to (e) omit “disclosure document” (wherever occurring), substitute “Hong Kong offering document”;

(m)  after subsection (9) insert:

 “(10)       In this section, Hong Kong offering document means a document that is:

(a)   represented (by statements in, or a document prepared by the offeror accompanying, the document) to be an offering document complying, at the time it is given to a person, with the Code on Unit Trusts and Mutual Funds issued by the Securities and Futures Commission (the SFC) of Hong Kong; and

(b)   either:

(i)      authorised by the SFC under section 105 of the Securities and Futures Ordinance, (Cap 571) of Hong Kong; or

(ii)     substantially the same as a document that has been so authorised but for the addition of information to satisfy the requirements of an instrument made under section 741.”.

20.  Chapter 6D of the Act applies to an eligible MFC as if section 739 were modified or varied as follows:

(a)   after paragraph (1)(b) insert:

“(ba)  a Hong Kong offering document contains a misleading or deceptive statement or is accompanied by a document prepared by the offeror containing a misleading or deceptive statement; or”;

(b)   in paragraph (1A)(a) omit “or (b)”, substitute “, (b) or (ba)”;

(c)   in subsection (5) omit “disclosure document.”, substitute “disclosure document or Hong Kong offering document (as applicable)”;

(d)   after subsection 739(8) insert:

“(9) In this section, Hong Kong offering document has the same meaning as in subsection 734(10).”.

CONDITIONS

Eligible MFC and exempt manager of eligible FCIS

21. An exempt manager of an eligible FCIS that relies on paragraphs 10 or 12 or an eligible MFC that relies on paragraph 17, must:

Disclosure to Australian investors and ASIC

(a)        (i)        in the case of an exempt manager of an eligible FCIS—give a Hong Kong offering document relating to interests in the eligible FCIS to a person in circumstances where, but for paragraph 12, it would have an obligation to give a Product Disclosure Statement under sections 1012B or 1012C of the Act; or

(ii)       in the case of an eligible MFC—not make an offer of shares in the eligible MFC that would need disclosure to investors under Part 6D.2 of the Act but for paragraph 17, unless the offer is included in or accompanied by a Hong Kong offering document; and

(b)   ensure that the following information is prominently disclosed in or accompanying each Hong Kong offering document it gives a person under subparagraph (a):

(i)    the eligible FCIS and its exempt operators, or the eligible MFC (as applicable), are regulated by Hong Kong regulatory requirements, and those requirements differ from Australian regulatory requirements; and

(ii)   the rights and remedies available to persons in Australia who acquire interests in the eligible FCIS or shares in the eligible MFC (as applicable) may differ from those of persons acquiring interests in managed investment schemes or companies regulated in Australia; and

(iii)  the main rights and remedies available to persons in Australia under the Hong Kong regulatory requirements and how those rights and remedies can be accessed; and

(iv)  general information about significant Australian taxation implications in respect of holding, acquiring or disposing of the interests in the eligible FCIS or shares in the eligible MFC (as applicable); and

(v)   the nature of any special considerations associated with cross-border investing, such as considerations arising from foreign taxation requirements, foreign currency or time differences; and

(vi)  the nature and consequences of significant differences between Hong Kong regulatory requirements and Australian regulatory requirements; and

(vii) in the case of an exempt manager of an eligible FCIS:

 (A)     the exempt operators have in place an internal dispute resolution system, covering complaints by Australian investors and how that system may be accessed; and

 (B)      the exempt operators are members of an external dispute resolution system approved by ASIC, that Australian investors will have access to, and which system that is and how it may be accessed; and

(C)       information about whether a cooling-off regime applies for acquisitions of interests in the eligible FCIS and if so whether that regime is provided for in the Hong Kong regulatory requirements; and

 (D)     if the exempt operators are not required to hold professional indemnity insurance under the Hong Kong regulatory requirements—a statement to that effect; and

 (c)  ensure that all persons in this jurisdiction who are not required to be given a document under subparagraph (a) are notified in writing before or at the same time as they are made an offer to acquire interests in the eligible FCIS or shares in the eligible MFC by way of issue that the eligible FCIS and its exempt operators, or eligible MFC, are regulated under the Hong Kong regulatory requirements, and that those requirements differ from Australian regulatory requirements; and

 (d)  notify ASIC that the Hong Kong offering document is in use in this jurisdiction within five business days after a copy of the offering document is first given to a person under subparagraph (a); and

 (e)  in relation to the Hong Kong offering document:

(i)    keep a copy of the document (and any other document accompanying it contemplated by subparagraph (b) or the definition of Hong Kong offering document (paragraph (a)) for seven years after it is last given to a person under subparagraph (a); and

(ii)   make a copy of the document available to ASIC on request; and

Information about the eligible FCIS or eligible MFC

 (f)  ensure that ASIC is promptly given any annual financial statement of the eligible FCIS or eligible MFC (as applicable) when the financial statement is published together with any associated audit and other reports (if the statement or reports are not in English, the exempt manager must give ASIC an English translation of any such statement or report in a reasonable time if ASIC requests such a translation); and

 (g)  ensure that there is maintained in this jurisdiction, at a place disclosed in writing to members who were in this jurisdiction when they were offered interests in the eligible FCIS or shares in the eligible MFC (as applicable), a register of members that it reasonably believes are in this jurisdiction and their contact details; and

(ga) if ASIC gives the exempt manager or eligible MFC (as applicable) a written notice directing the person to lodge with ASIC, within the time specified in the notice, a written statement containing specified information relating to the provision of financial services in relation to the eligible FCIS or eligible MFC or the operation of the eligible FCIS or eligible MFC in this jurisdiction, the person must comply with the notice.

Targeting

 (h)  take all reasonable steps to ensure that not more than 30% by value of all interests in the eligible FCIS or shares in the eligible MFC (as applicable) are held by persons who the exempt manager has reason to believe are in this jurisdiction.

Eligible MFC and exempt operators of eligible FCIS

22.  An exempt operator of an eligible FCIS that relies on paragraphs 10 or 12 or an eligible MFC that relies on paragraph 17, must make available on request, to members of the eligible FCIS or eligible MFC in this jurisdiction, any publicly available information about the eligible FCIS or eligible MFC (as applicable) that has been produced by, or on behalf of, the exempt operator and that relates to the eligible FCIS or eligible MFC, unless members in this jurisdiction can otherwise obtain that information conveniently and for no greater charge (if any) than would apply in Hong Kong.  The information must be provided in English and at no greater charge (if any) than applies in Hong Kong.

Schedule A — Entry and ongoing eligibility requirements

A foreign company satisfies the requirements in this Schedule if all of the following are satisfied by or in relation to the company:

A1. ASIC has been provided with the documents and information in Schedule B Documents to be provided to ASIC in relation to the foreign company and ASIC has notified the foreign company in writing that such information provided is adequate;

A2. ASIC has not notified the foreign company in writing that it is excluded from relying on this instrument;

A3. 10 business days have not passed since the foreign company became or should reasonably have become aware of matters that give it reason to believe that it or another person has failed, other than in an immaterial respect, to comply with a requirement set out in:

 (a)  in the case where the foreign company is the management company of an eligible FCIS or is an eligible MFC—paragraph 21 or Schedule C — Notification of significant changes to ASIC; or

 (b)  in any case—paragraph 22;

without full particulars of the failure having been provided to ASIC (to the extent that the foreign company knows those particulars or would have known them if it had made reasonable enquiries);

A4. having provided particulars under paragraph A3 within the time allowed by that paragraph, 20 business days have not passed from the provision of those particulars without ASIC having notified the foreign company in writing that it may continue to rely on this instrument.

Schedule B — Documents to be provided to ASIC

A foreign company must ensure that the following documents and written information have been provided to ASIC before relying on this instrument in relation to an eligible FCIS or eligible MFC (as applicable):

B1. evidence that the eligible FCIS or eligible MFC is authorised under subsection 104(1) of the SFO;

B2. a deed from the company for the benefit of and enforceable by ASIC, the other persons referred to in subsection 659B(1) of the Act and any member or former member of the eligible FCIS or eligible MFC in this jurisdiction at the time they were offered interests in the eligible FCIS or shares in the eligible MFC, which applies notwithstanding that the company may have ceased to rely, or never have relied, on this instrument, and which provides that:

(a)   the deed is irrevocable except with the prior written consent of ASIC; and

(b)   the company covenants to comply with the Hong Kong regulatory requirements in respect of its conduct in this jurisdiction as if the conduct occurred in Hong Kong in like circumstances; and

(c)   the company covenants to:

 (i)   ensure that each of its agents and representatives that engages in conduct in this jurisdiction will comply with the Hong Kong regulatory requirements in respect of their conduct in this jurisdiction as if the conduct occurred in Hong Kong in like circumstances; or

 (ii)  ensure that each of its agents and representatives that engages in conduct in this jurisdiction has entered into a deed as required by this paragraph as if:

(A)  references to the company were references to the agent or representative; and

(B)  this paragraph (c) were omitted; and

(d)   the company submits to the non-exclusive jurisdiction of the Australian courts in legal proceedings conducted by any of the following:

 (i)   ASIC (including under section 50 of the ASIC Act); and

 (ii)  any member (or former member) of the eligible FCIS or eligible MFC who was in this jurisdiction when they were offered interests in the eligible FCIS or shares in the eligible MFC; and

 (iii) in relation to proceedings relating to a financial services law — any person referred to in subsection 659B(1) of the Act;

and in the case of proceedings brought by a person covered by subparagraph (i) or (iii), whether brought in their name, on behalf of the Crown or otherwise;

 (e)  the company covenants to comply with any order of an Australian court in respect of any matter relating to the provision of the financial services in relation to the eligible FCIS or eligible MFC or the operation of the eligible FCIS; and

 (f)  the company covenants that, on written request of either the SFC or ASIC, it will give or vary written consent and take all other practicable steps to enable and assist the SFC to disclose to ASIC and ASIC to disclose to the SFC any information or document that the SFC or ASIC has that relates to the company or the eligible FCIS;

B3. written consents to the disclosure by SFC to ASIC and ASIC to SFC of any information or document that SFC or ASIC has that relates to the company or eligible FCIS;

B4. the most recent financial statements of the eligible FCIS or eligible MFC , any audit report, and any subsequent public disclosures by that eligible FCIS or eligible MFC about its financial position or compliance with the Hong Kong regulatory requirements and if the documents are not in English, an English translation;

B5. a copy of the most recent Hong Kong offering document relating to an offer of interests in the eligible FCIS or offer of shares in the eligible MFC;

B6. a copy of the constitution or other governing rules (however described) of the eligible FCIS or eligible MFC;

B7. a description of how the company will plan for, monitor and assess its compliance with the requirements and conditions of this instrument and any Australian regulatory requirements to which it will be subject;

B8. a description of the financial services relating to the eligible FCIS or eligible MFC that the company intends to provide in this jurisdiction; and

B9. where the company is an exempt manager—information about the interests in the eligible FCIS or shares in the eligible MFC that the company intends to offer or issue to persons in this jurisdiction and how it plans to seek members in this jurisdiction.

Schedule C — Notification of significant changes to ASIC

A foreign company must ensure that ASIC is notified, as soon as practicable and in any event within 15 business days after the company became aware or should reasonably have become aware, and in such form if any as ASIC may from time to time specify in writing, of the details of:

C1. each significant change to a licence, registration, authorisation or other approval (however described) granted by the SFC relevant to the operation of the eligible FCIS or eligible MFC;

C2. [deleted]

C3. each significant exemption or other relief obtained from the Hong Kong regulatory requirements by:

(a)   the foreign company; and

(b)   where the foreign company is an exempt manager in relation to an eligible FCIS—the trustee of the eligible FCIS; and

C4. each action or investigation of the following kinds:

(a)   significant enforcement action;

(b)   significant disciplinary action;

(c)   significant investigation (unless, after having taken reasonable steps to enable notification to be given to ASIC, the company or trustee (as applicable) mentioned in subparagraphs (d) and (e) is prohibited by law from giving such notification but only to the extent of the prohibition);

taken by the SFC or other overseas regulatory authority against the following persons in a foreign jurisdiction relating to the provision of financial services in the foreign jurisdiction:

(d)   the foreign company;

(e)   where the foreign company is an exempt manager in relation to an eligible FCIS—the trustee of the eligible FCIS.

Interpretation

In this instrument:

Australian regulatory requirements means the Australian legislative provisions that apply in relation to managed investment schemes, financial services and fundraising, including any instruments made under those legislative provisions and any relevant policies or other documents (however described) issued by ASIC.

Code means the Code on Unit Trusts and Mutual Funds issued by the SFC.

custodial or depository services has the meaning given by section 766E of the Act.

custodian means the entity appointed as the custodian in relation to a mutual fund corporation in accordance with the Code.

financial services law has the meaning given by section 761A of the Act.

foreign exchange contract has the meaning given by section 761A of the Act.

Hong Kong offering document means a document that is:

 (a)  represented (by statements in, or accompanying, the document) to be an offering document complying, when it is given to a person, with the Code; and

 (b)  either:

(i)    authorised by the SFC under section 105 of the SFO; or

(ii)   substantially the same as a document that has been so authorised but for the addition of information set out in subparagraph 21(b).

Hong Kong regulatory requirements means the rules that apply in Hong Kong in relation to a managed investment scheme or foreign company (as applicable) authorised by the SFO under subsection 104(1) of the SFO, including the SFO and any other legislation that is applicable because of that authorisation, instruments made under that legislation, the Code and any relevant policies or other documents (however described) issued by the SFC.

management company means the company appointed in accordance with the Code.

offer has a meaning affected by subsection 1010C(2) of the Act when used in connection with Part 7.9 and affected by Part 6D.1 when used in connection with Chapter 6D.

overseas regulatory authority means a foreign regulatory authority (other than the SFC) which regulates financial services and which is established by or for the purposes of a foreign government or legislative body.

regulated person has the meaning given by section 1011B of the Act.

retail client has the meaning given by section 761G and 761GA of the Act.

SFC means the Securities and Futures Commission of Hong Kong.

SFO means the Securities and Futures Ordinance (Cap 571) of Hong Kong.

trustee means the entity appointed as the trustee of a unit trust in accordance with the Code.

 

Notes to ASIC Class Order [CO 08/506]

Note 1

ASIC Class Order [CO 08/506] (in force under s601QA(1)(a), 741(1)(a), 741(1)(b), 911A(2)(l), 1020F(1)(a) and 1020F(1)(c) 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 FRLI registration

Date of commencement

Application, saving or transitional provisions

[CO 08/506]

23/9/2008 (see F2008L03496)

23/9/2008

 

[CO 12/573]

4/7/2012 (see F2012L01502)

4/7/2012

-

[CO 12/1267]

25/9/2012 (see F2012L01919)

25/9/2012

-

Table of Amendments

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

Provision affected

How affected

Subpara 21(ga)............

ad. [CO 12/573]

Sch C..........................

am. [CO 12/573] and [CO 12/1267]