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

Date: 28 March 2017

Contents

Part 1—Preliminary  3

1    Name of legislative instrument 3

2    Commencement 3

3    Authority. 3

4    Schedules. 3

Schedule 1—Repeal 4

ASIC Class Order [CO 04/526] 4

Schedule 2—Savings  5

Transitional continuation of relief given by repealed ASIC Class Order 5

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Repeal and Transitional) Instrument 2017/271.

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 Legislative Instruments.

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

3        Authority

This instrument is made under paragraphs 601QA(1)(a), 911A(2)(l) and 926A(2)(a) of the Corporations Act 2001.

4        Schedules

Each instrument that is specified in a Schedule to this instrument is repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Repeal

ASIC Class Order [CO 04/526]

1        The whole of the instrument

Repeal the instrument.

Schedule 2—Savings

Transitional continuation of relief given by repealed ASIC Class Order

1        Transitional relief

(1)     An exemption specified in an ASIC Class Order specified in Schedule 1 as in force immediately before its repeal, continues to apply by force of this item, in the circumstances and on the conditions specified in relation to the exemption. If the exemption was expressed to have been made under paragraph 911A(2)(l) of the Corporations Act 2001, it continues to apply under paragraph 926A(2)(a) of that Act instead.

(2)     Subitem (1) has effect for a period of 2 years commencing on the day this instrument commences.