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ASIC Class Order [CO 13/1026]

Authoritative Version
  • - F2013L01624
  • No longer in force
CO 13/1026 Orders/ASIC Class Orders as made
This class order amends the ASIC Class Order [CO 03/1099] to update references in order to reflect the changes to the legislative regime in the United Kingdom, without effecting any substantive change to the underlying policy in ASIC Regulatory Guide 176.
Administered by: Treasury
Registered 27 Aug 2013
Tabling HistoryDate
Tabled HR12-Nov-2013
Tabled Senate12-Nov-2013
Date of repeal 17 Oct 2014
Repealed by Spent and Redundant Instruments Repeal Regulation 2014 (No. 2)

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraph 911A(2)(l) — Amendment




Enabling legislation


1.       The Australian Securities and Investments Commission makes this instrument under paragraph 911A(2)(l) of the Corporations Act 2001.


2.       This instrument is ASIC Class Order [CO 13/1026].




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, section 4 (definition of register).  The FRLI may be accessed at http://www.frli.gov.au/.




4.       ASIC Class Order [CO 03/1099] is amended as follows:


(a)     in Schedule A omit subparagraph (a), substitute:


“(a)   the body has a current Part 4A Permission;”;


(b)     in Schedule B:


(i)      omit subparagraph 2(a), substitute:


“(a)    a copy of the Part 4A Permission;”;


(ii)     in sub-subparagraph 2(c)(v) and subparagraph 2(d), omit all references to “FCA”, substitute “appropriate regulator”;


(c)     in Schedule C:


(i)      in sub-subparagraph 2(a)(i) omit “Part IV Permission”, substitute “Part 4A Permission”;


(ii)     in sub-subparagraph 2(a)(iv) omit “FCA or other overseas regulatory authority”, substitute “FCA, PRA or other overseas regulatory authority”;


(iii)    omit sub-subparagraph 2(b)(ii), substitute:


“(ii)   as applicable:


(A)    for a dual-regulated body—the body is authorised by the PRA and regulated by the FCA and PRA under UK laws, which differ from Australian laws;


(B)    otherwise—the body is authorised and regulated by the FCA under UK laws, which differ from Australian laws; and”;


(d)     in the Interpretation:


(i)      in the definition of overseas regulatory authority omit “(other than the FCA)”, substitute “(other than the FCA or PRA)”;


(ii)     omit the definition of Part IV Permission;


(iii)    in the definition of UK regulatory requirements omit “the FCA;”, substitute “the FCA or PRA;”;


(iv)    insert the following definitions in alphabetical order:


appropriate regulator means:


(a)     for a dual-regulated body—both the PRA and the FCA; 


(b)     otherwise—the FCA.


dual-regulated body means a body whose regulated activities in the United Kingdom include a PRA-regulated activity within section 22A of the FSM Act.


Part 4A Permission means a permission given under Part 4A of FSM Act or having effect as if so given under that Part.


PRA means the Prudential Regulation Authority of the United Kingdom.”.




5.       Until 31 March 2014, the amendments made by sub-subparagraph 4(b)(ii) of this class order do not apply to a dual-regulated body that was relying on ASIC Class Order [CO 03/1099] as at the commencement of this class order.




6.       In this instrument:


dual–regulated body means a body whose regulated activities in the United Kingdom include a PRA-regulated activity within section 22A of the Financial Services and Markets Act 2000 of the United Kingdom.





Dated this 15th day of August 2013





Signed by Grant Moodie

as a delegate of the Australian Securities and Investments Commission