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

Date: 5 April 2017

Contents

Part 1—Preliminary  3

1    Name of legislative instrument 3

2    Commencement 3

3    Authority. 3

4    Definitions. 3

Part 2—Exemption  4

5    Requirement to prepare a profit and loss statement 4

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Financial Reporting: Natural Person Licensees) Instrument 2017/307.

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 paragraph 992B(1)(a) of Corporations Act 2001.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.

Part 2—Exemption

5        Requirement to prepare a profit and loss statement

          A financial services licensee who is a natural person does not have to comply with subsection 989B(1) of the Act to the extent that the licensee is required to include in a profit and loss statement any revenues and expenses that do not relate to a financial services business carried on by the licensee.