Federal Register of Legislation - Australian Government

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17-1008 Rules/Other as made
This instrument amends the ASIC Market Integrity Rules (Chi-X Australia Market) 2011 to facilitate a proposal by Chi-X Australia Pty Ltd (Chi-X Australia) to admit a new class of financial product to quotation on the Chi-X Market under the Chi-X Operating Rules—Transferable Custody Receipts (TraCRs).
Administered by: Treasury
Made 10 Nov 2017
Registered 13 Nov 2017
Tabled HR 04 Dec 2017
Tabled Senate 15 Nov 2017
Date of repeal 15 Nov 2017
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

17-1008

Commonwealth Coat of Arms and ASIC logo

ASIC Market Integrity Rules (Chi-X Australia Market) Amendment 2017 (No.1)

I, Greg Yanco, delegate of the Australian Securities and Investments Commission, with the written consent of the Minister, make the following legislative instrument.

 

Date    10 November  2017

 

Greg Yanco

 



Part 1—Preliminary

1        Name of legislative instrument

This instrument is ASIC Market Integrity Rules (Chi-X Australia Market) Amendment 2017 (No. 1).

2        Commencement

This instrument commences on 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 subsection 798G(1) of the Corporations Act 2001.

4        Schedule

Schedule 1 amends the ASIC Market Integrity Rules (Chi-X Australia Market) 2011.


Schedule 1—Amendments

ASIC Market Integrity Rules (Chi-X Australia Market) 2011

1        Rule 1.4.3, after the definition of “Financial Product Advice”

Insert:

Foreign Quoted Shares”, in relation to an Investment Product (Transferable Custody Receipt), means shares of a foreign company that is listed on the New York Stock Exchange, NASDAQ Global Market or NASDAQ Global Select Market, where the shares are in a class of shares that is able to be traded on at least one of those financial markets.

2        Rule 1.4.3, definition of “Investment Product”

          Omit the definition, substitute:

Investment Product means an Investment Product (MIS), an Investment Product (Transferable Custody Receipt) and an Investment Product (Warrant).

3        Rule 1.4.3, after the definition of “Investment Product (MIS)”

Insert:

Investment Product (Transferable Custody Receipt) means  units of beneficial ownership in Foreign Quoted Shares where the units:

(a)        arise from a custodial and sub-custodial arrangement under which:

(i)         a custodian holds, directly or indirectly, the Foreign Quoted Shares on behalf of, or in trust for, an AFSL holder that holds an AFSL that covers the provision of a custodial or depository service; and

(ii)       the AFSL holder holds their equitable rights or interests in the Foreign Quoted Shares arising from the custodial arrangement mentioned in subparagraph (i) on behalf of, or in trust for, a person; and

(b)       are issued without the involvement of the issuer of the Foreign Quoted Shares; and

(c)        are able to be traded on the Chi-X Market.