Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 14/1276]

Authoritative Version
CO 14/1276 Orders/ASIC Class Orders as made
This class order repeals ASIC Class Order [CO 10/321] due to the Corporations Amendment (Simple Corporate Bonds and Other Measures) Act 2014 and the Corporations Amendment (Simple Corporate Bonds and Other Measures) Regulation 2014, expected to commence on 19 December 2014. This class order contains a transitional provision to ensure that the ongoing exemptions and requirements of [CO 10/321] , relating to Chapter 2L of the Corporations Act, continue to apply in relation to vanilla bonds that were issued in reliance on [CO 10/321] before its repeal.
Administered by: Treasury
Registered 17 Dec 2014
Tabling HistoryDate
Tabled HR09-Feb-2015
Tabled Senate09-Feb-2015

Australian Securities and Investments Commission
Corporations Act 2001 — Subsections 283GA(1) and 741(1) — Repeal

 

Enabling legislation

1.       The Australian Securities and Investments Commission makes this instrument under subsections 283GA(1) and 741(1) of the Corporations Act 2001 (the Act).

Title

2.       This instrument is ASIC Class Order [CO 14/1276].

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 commencement of Schedule 1 to the Corporations Amendment (Simple Corporate Bonds and Other Measures) Act 2014.

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/.

Repeal

4.         ASIC Class Order [CO 10/321] is repealed.

Transitional

5.       ASIC Class Order [CO 10/321] as in force immediately before the commencement date continues to apply in relation to a body that has offered vanilla bonds under a vanilla bonds prospectus to the extent that class order relates to:

(a)     the trust deed required by section 283AA of the Act in relation to the vanilla bonds; or

(b)     a report required under section 283BF of the Act in relation to the vanilla bonds.

Interpretation

6.       In this instrument:

commencement date means the date that this instrument commences.

vanilla bonds has the same meaning as in notional subsection 713(9) of the Act as inserted by ASIC Class Order [CO 10/321] as in force immediately before the commencement date.

vanilla bonds prospectus has the same meaning as in notional subsection 713(9) of the Act as inserted by ASIC Class Order [CO 10/321] as in force immediately before the commencement date.

 

Dated this 12th day of December 2014

 

 

 

Signed by Grant Moodie
as a delegate of the Australian Securities and Investments Commission