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This instrument gives relief to ensure that the ability of entities to use transaction specific disclosures and rely on “cleansing notice” exemptions and exemptions applying to rights issues under the Corporations Act 2001 is not adversely affected by certain technical relief instruments defined in the instrument.
Administered by: Treasury
Registered 16 Mar 2016
Tabling HistoryDate
Tabled HR17-Mar-2016
Tabled Senate18-Apr-2016
Table of contents.

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ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73

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

 

Date                9 March 2016

 

 

Grant Moodie

 



Part 1—Preliminary

1        Name of legislative instrument

This instrument is ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73.

2        Commencement

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

Note:    The register may be accessed at www.legislation.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.


Part 2—Declaration

 

5        Disregarding technical relief instruments for certain purposes

 

Chapter 6D and Part 7.9 of the Act apply to all persons as if the following provisions were modified or varied:

 

(a)     in section 9 insert the following definition:

 

          “technical relief instrument means any instrument (however described) mentioned in column 2 or 3 of the following table:

 

 

ASIC Instrument

ASIC Class Order

1.

ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73

ASIC Class Order [CO 01/1455]

ASIC Class Order [CO 04/672] ASIC Class Order [CO 07/571] (each as in force as at the day immediately before the day those class orders were repealed)

2.

 

ASIC Class Order [CO 98/100]

3.

 

ASIC Class Order [CO 98/101]

4.

 

ASIC Class Order [CO 98/104]

5.

 

ASIC Class Order [CO 98/1418]

6.

 

ASIC Class Order [CO 98/2395]

7.

 

ASIC Class Order [CO 99/90]
(as in force as at the day immediately before the day the class order was repealed)

8.

 

ASIC Class Order [CO 00/2449]

9.

ASIC Corporations (Stapled Group Reports) Instrument 2015/838

ASIC Class Order [CO 05/642] (as in force as at the day immediately before the day the class order was repealed)

10.

ASIC Corporations (Post Balance Date Reporting) Instrument 2015/842

ASIC Class Order [CO 05/644] (as in force as at the day immediately before the day the class order was repealed)

11.

ASIC Corporations (Related Scheme Reports) Instrument 2015/839

 

ASIC Class Order [CO 06/441] (as in force as at the day immediately before the day the class order was repealed)

12.

 

ASIC Class Order [CO 09/425]

13.

 

ASIC Class Order [CO 10/321] (as in force as at the day immediately before the day the class order was repealed)

14.

ASIC Corporations (Sale Offers: Securities Issued on Conversion of Convertible Notes) Instrument 2016/82

ASIC Class Order [CO 10/322] (as in force as at the day immediately before the day the class order was repealed)

15.

 

ASIC Class Order [CO 10/654]

16.

 

ASIC Class Order [CO 13/1050]

17.

 

ASIC Class Order [CO 14/757]

18.

an order under section 340 to the extent it relieves the entity, or any person as director or auditor of the entity, from the requirements of subsection 323D(3).

 

 

In this table, unless a contrary intention appears, a reference to an instrument is taken to be a reference to the instrument as in force from time to time.”;  

 

(b)     in section 9 in the definition of continuously quoted securities, at the beginning of both subparagraphs (b)(ii) and (iii), insert “other than a technical relief instrument,”;

 

(c)     in paragraphs 708AA(2)(e), 708A(5)(d), 1012DAA(2)(e) and 1012DA(5)(d), at the beginning of each respective paragraph, insert “other than a technical relief instrument,”.