Federal Register of Legislation - Australian Government

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Other as made
This instrument provides relief to operators of an IDPS by modifying section 609 of the Corporations Act 2001.
Administered by: Treasury
Registered 14 Dec 2015
Tabling HistoryDate
Tabled Senate02-Feb-2016
Tabled HR02-Feb-2016

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ASIC Corporations (IDPS—Relevant Interests) Instrument 2015/1067

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

 

Date                8 December 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—Declaration                                                                                                      4

5    Relevant interests and operators of IDPSs...................................................... 4

 


Part 1—Preliminary

1        Name of legislative instrument

This instrument is ASIC Corporations (IDPS—Relevant Interests) Instrument 2015/1067.

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 subsections 655A(1) and 673(1) of the Corporations Act 2001.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.


Part 2—Declaration

5        Relevant interests and operators of IDPSs

Chapters 6 and 6C of the Act apply to all persons as if section 609 of the Act were modified or varied by inserting the following subsections in the appropriate numerical position:

IDPS operators

(17A)     A person does not have a relevant interest in securities merely because the person:

(a)     is the operator of an IDPS; or

(b)     is involved in the operation of an IDPS and is a financial services licensee or a representative (within the meaning of section 910A) of a financial services licensee;

and under the terms of the IDPS:

(c)     holds the securities; or

(d)     has a discretion in relation to the disposal of the securities.

(17B)     Subsection (17A) does not apply to a person if ASIC has given a notice in writing to the person stating that subsection (17A) does not apply to the person and has not withdrawn that notice.

(17C)     In subsection (17A), IDPS and operator have the same meaning as in subsection 912AD(42).”.

Note:          Notional subsection 912AD(42) of the Act is inserted by ASIC Class Order [CO 13/763].