I, Stephen Yen PSM, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date: 1 March 2017

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    Exemption from obligations relating to Product Disclosure Statements and advertising of financial products  4

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Offers over the internet) Instrument 2017/181.

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 subsection 1020F(1) of the Corporations Act 2001.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.

offer includes an invitation to make an offer.

Part 2—Exemptions

5        Exemption from obligations relating to Product Disclosure Statements and advertising of financial products

(1)     A person does not have to comply with Divisions 2 or 4 of Part 7.9 of the Act when making an offer of financial products to people outside of this jurisdiction on or through the internet in such a way that the offer is available to, or received by, people in this jurisdiction.

(2)     The exemption applies where all of the following apply:

(a)     the receipt of the offer in this jurisdiction is merely incidental to the making of the offer outside this jurisdiction;

(b)     the person takes reasonable steps to ensure that people in this jurisdiction are excluded from accepting the offer;

(c)     the offer is not made in this jurisdiction by any other means, unless the ASIC Corporations (Foreign Securities—Incidental Advertising) Instrument 2015/360 applies to the making of the offer.