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ASIC Class Order [CO 13/523]

Authoritative Version
CO 13/523 Orders/ASIC Class Orders as made
This class order modifies the Corporations Act 2001 to permit an issuer, bidder or target to include certain statements made by other persons in their disclosure document or bidder’s or target’s statement without having to obtain the other person’s consent.
Administered by: Treasury
Registered 21 Jun 2013
Tabling HistoryDate
Tabled HR24-Jun-2013
Tabled Senate24-Jun-2013
Date of repeal 17 Mar 2016
Repealed by ASIC Corporations (Repeal) Instrument 2016/171

 

 

Australian Securities and Investments Commission
Corporations Act 2001 – Subsections 655A(1) and 741(1) – Declaration

 

Enabling legislation

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

Title

2.       This instrument is ASIC Class Order [CO 13/523].

Commencement

3.       This instrument commences on the day 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, section 4 (definition of register).  The FRLI may be accessed at http://www.frli.gov.au/.

Declaration

4.       Chapter 6 of the Act applies to all persons as if the following provisions were modified or varied:

(a)     after subsection 636(4) insert:

Statements by official persons, or in books, journals etc

(4A)    Subsection (3) does not apply to a statement that:

(a)     fairly represents what purports to be a statement made by an official person; or

(b)     is a correct and fair copy of, or extract from, what purports to be a public official document; or

(c)     is a correct and fair copy of, or extract from, a statement which has already been published in a book, journal or comparable publication;

provided the statement was not made, or published, in connection with the takeover bid or the bidder or target or any business, property or person the subject of the bidder’s or target’s statement.”;

(b)     after subsection 638(6) insert:

Statements by official persons, or in books, journals etc

(6A)    Subsection (5) does not apply to a statement that:

(a)     fairly represents what purports to be a statement made by an official person; or

(b)     is a correct and fair copy of, or extract from, what purports to be a public official document; or

(c)     is a correct and fair copy of, or extract from, a statement which has already been published in a book, journal or comparable publication;

provided the statement was not made, or published, in connection with the takeover bid or the bidder or target or any business property or person the subject of the bidder’s or target’s statement.”.

5.       Chapter 6D applies to all persons as if subsection 716 were modified or varied by, after subsection (2), inserting:

Statements by official persons, or in books, journals etc

(3)     Subsection (2) does not apply to a statement that:

(a)     fairly represents what purports to be a statement made by an official person; or

(b)     is a correct and fair copy of, or extract from, what purports to be a public official document; or

(c)     is a correct and fair copy of, or extract from, a statement which has already been published in a book, journal or comparable publication;

provided the statement was not made in connection with any or all of the persons, their business, or the promotion the subject of the disclosure document or any property to be acquired by the body which is the subject of the disclosure document.”.

 

Dated this 17th  day of June 2013

 

Signed by Grant Moodie  

as a delegate of the Australian Securities and Investments Commission