Federal Register of Legislation - Australian Government

Primary content

ASIC Class Order [CO 03/957]

Authoritative Version
CO 03/957 Orders/ASIC Class Orders as amended, taking into account amendments up to ASIC Corporations (Amendment) Instrument 2015/963
Administered by: Treasury
Registered 12 Nov 2015
Start Date 10 Nov 2015
Date of repeal 24 Sep 2016
Repealed by ASIC Corporations (Repeal) Instrument 2016/887

ASIC Class Order [CO 03/957]

ASX managed investment warrants — disclosure and reporting exemptions

This instrument has effect under s111AT(1) and  1020F(1) of the Corporations Act 2001.

This compilation was prepared on 11 November 2015 taking into account amendments up to ASIC Corporations (Amendment) Instrument 2015/963 that commenced on 10 November 2015. 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 — Subsections  111AT(1) and  1020F(1) — Exemption

1.    Under subsection 1020F(1) of the Corporations Act 2001 (the “Act”) the Australian Securities and Investments Commission (“ASIC”) exempts a warrant issuer from:

(a)   section  1013I of the Act in relation to a Product Disclosure Statement or Short-Form PDS that relates to an exchange traded managed investment warrant of the warrant issuer; and

(aa) section 1015B of the Act in relation to a Product Disclosure Statement that relates to an exchange traded managed investment warrant of the warrant issuer; and

(b)   section  1017D of the Act in relation to an exchange traded managed investment warrant of the warrant issuer,

       for so long as and on the condition that the warrant issuer complies with section  1017B of the Act as if subsection 1017B(2) were omitted.

Note 1:      The consequences of relying on the exemption from s1015B of the Act include ss1013G(a), 1013J and 1016B(1) of the Act not applying in relation to the relevant Product Disclosure Statement; and s1015D applying in relation to that Statement.

Note 2:      Section 1015B does not apply to a Short-Form PDS.

2.    Under subsection  111AT(1) of the Act, for the avoidance of doubt, ASIC exempts a warrant issuer from the disclosing entity provisions where the warrant issuer is a disclosing entity only because one or more classes of exchange traded managed investment warrants of the warrant issuer are ED securities.

Interpretation

In this instrument:

(a)   “ASX” means ASX Limited;

(b)   “ASX operating rules” means the operating rules of the licensed market operated by ASX;

(c)     “ASX traded managed investment warrant” means a managed investment warrant that is a warrant (within the meaning of rule [7100] of the ASX operating rules) that ASX has admitted to trading status (within the meaning of rule [7100] of the ASX operating rules);

(ca)    “Chi-X” means Chi-X Australia Pty Ltd;

(cb)   “Chi-X operating rules” means the operating rules of the licensed market operated by Chi-X;

(cc)    “Chi-X traded managed investment warrant” means a managed investment warrant that is a warrant (within the meaning of rule 1.1 of the Chi-X operating rules) that has been admitted to quotation (within the meaning of rule 1.1 of the Chi-X operating rules);

(d)     “disclosing entity provisions” has the meaning given by section 111AR of the Act;

(da)   “exchange traded managed investment warrant” means:

(i)    an ASX traded managed investment warrant; or

(ii)   a Chi-X traded managed investment warrant;

(e)     “managed investment warrant” means a financial product:

(i)    to which the definition of derivative in subsection 761D(1) applies that is a financial product of the kind referred to in subparagraph 764A(1)(b)(ii) or 764A(1)(ba)(ii); and

(ii)   that is transferable;

(ea)    “Short-Form PDS” has the same meaning as in Division 3A of Part 7.9 of the Act, as notionally inserted by Part 3 of Schedule 10BA of the Corporations Regulations 2001; and

(f)      “warrant issuer” means:

(i)    in relation to an ASX traded warrant—a warrant-issuer (within the meaning of rule [7100] of the ASX operating rules);

(ii)   in relation to a Chi-X traded warrant—a product issuer (within the meaning of rule 1.1 of the Chi-X operating rules).

Notes to ASIC Class Order [CO 03/957]

Note 1

ASIC Class Order [CO 03/957] (in force under s111AT(1) and 1020F(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 03/957]

6/11/2003 (see F2006B01161)

6/11/2003

 

[CO 04/188]

2/3/2004 (see F2006B11720)

11/3/2004

-

[CO 07/151]

25/5/2007 (see F2007L01527)

25/5/2007

-

2015/963

9/11/2015 (see F2015L01767)

10/11/2015

-

Table of Amendments

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

Provision affected

How affected

Para 1..........................

am. [CO 07/151] and 2015/963

Para 2..........................

am. 2015/963]

Note............................

rs. [CO 07/151]

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

am. [CO 04/188]; [CO 07/151] and 2015/963