Federal Register of Legislation - Australian Government

Primary content

Other as made
This instrument amends the ASIC Corporations (Financial Product Advice – Exempt Documents) Instrument 2016/356 to exempt bodies entitled to the self-dealing exemption under subsection 766C(4) of the Corporations Act 2001 from the requirement to hold an Australian financial services (AFS) licence when providing general product advice in offer documents to wholesale clients. This instrument also repeals ASIC Class Order [CO 03/911].
Administered by: Treasury
Registered 23 Sep 2016
Tabling HistoryDate
Tabled HR10-Oct-2016
Tabled Senate10-Oct-2016
Date of repeal 28 Sep 2016
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

Commonwealth Coat of Arms and ASIC logo

ASIC Corporations (Amendment and Repeal) Instrument 2016/895

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

 

Date                19 September 2016

 

 

Grant Moodie

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment and Repeal) Instrument 2016/895.

2        Commencement

This instrument commences on the later of:

(a)     the date of its gazettal; and 

(b)     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 paragraph 911A(2)(l) and subsection 926A(2) of the Corporations Act 2001.

4        Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule.


Schedule 1—Amendment

ASIC Corporations (Financial Product Advice—Exempt Documents) Instrument 2016/356

1        At the end of Part 2

Add:

7        Self-dealers who provide general advice about own securities

An entity to which subsection 766C(4) of the Act applies does not have to comply with the requirement in subsection 911A(1) of the Act to hold an Australian financial services licence for the provision to wholesale clients of general advice that relates to securities, debentures, stocks or bonds of the entity and is contained in a document offering those securities, debentures, stocks or bonds for issue.


Schedule 2—Repeal

ASIC Class Order [CO 03/911]

1        The whole of the instrument

Repeal the instrument.