Federal Register of Legislation - Australian Government

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This instrument gives relief from subsection 734(2) and section 1018A of the Corporations Act 2001 to authors and publishers who publish an advertisement or statement relating to foreign securities that is only incidentally published in Australia.
Administered by: Treasury
Registered 01 Sep 2015
Tabling HistoryDate
Tabled HR07-Sep-2015
Tabled Senate07-Sep-2015

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ASIC Corporations (Foreign Securities—Incidental Advertising) Instrument 2015/360

I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date                24 August 2015

 

 

Grant Moodie

 


Contents

Part 1—Preliminary                                                                                                     3

1    Name of legislative instrument........................................................................ 3

2    Commencement............................................................................................... 3

3    Authority......................................................................................................... 3

4    Definitions....................................................................................................... 3

Part 2—Exemptions                                                                                                      4

5    Advertising relief for incidental advertising of foreign securities................... 4

 


Part 1—Preliminary

1        Name of legislative instrument

This instrument is ASIC Corporations (Foreign Securities—Incidental Advertising) Instrument 2015/360.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislative Instruments.

Note:    The register may be accessed at www.comlaw.gov.au.

3        Authority

This instrument is made under sections 741 and 1020F of the Corporations Act 2001.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.

foreign securities means securities (within the meaning of subsection 92(1) of the Act) issued or proposed to be issued by a foreign company.

publication, in relation to an advertisement or statement, includes publication in or by way of:

(a)     newspapers and magazines; and

(b)     radio and television broadcasting services; and

(c)     electronic services (including services provided through the internet) that:

(i)      are operated on a commercial basis; and

(ii)     are similar to newspapers, magazines or radio or television broadcasts.


Part 2—Exemptions

5        Advertising relief for incidental advertising of foreign securities

(1)     A person (author) does not have to comply with subsection 734(2) or section 1018A of the Act where the person as author publishes in this jurisdiction an advertisement or statement in relation to foreign securities by causing or authorising its publication outside this jurisdiction.

(2)     A person (publisher) does not have to comply with subsection 734(2) or section 1018A of the Act where the person as publisher and not as author publishes in this jurisdiction an advertisement or statement in relation to foreign securities by causing or authorising its publication outside this jurisdiction.

(3)     The exemptions in subsections (1) and (2) apply where the publication of the advertisement or statement in this jurisdiction is merely incidental to the causing or authorising of the publication of the advertisement or statement outside this jurisdiction.