Federal Register of Legislation - Australian Government

Primary content

ASIC Corporations (Amendment) Instrument 2018/40

Authoritative Version
  • - F2018L00241
  • No longer in force
Other as made
This instrument amends ASIC Corporations (Generic Calculators) Instrument 2016/207 to defer the commencement of the requirement for a generic financial calculator relating to superannuation and retirement to include the present value of future receipts and payments using an assumed rate of inflation of 2.5% until 1 July 2019.
Administered by: Treasury
Registered 13 Mar 2018
Tabling HistoryDate
Tabled Senate19-Mar-2018
Tabled HR26-Mar-2018
Date of repeal 15 Mar 2018
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003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) Instrument 2018/40

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

Date: 9 March 2018

 

 

 

Stephen Yen

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2018/40.

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 paragraphs 926A(2)(a) and 951B(1)(a) of the Corporations Act 2001.

4        Schedules

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


Schedule 1—Amendments

ASIC Corporations (Generic Calculators) Instrument 2016/207

1        Section 7

          Repeal the section, substitute:

7       Condition dealing with inflation

A person who relies on the exemption in subsection 5(1) does not have to comply with subparagraph 6(1)(d)(iv) before 1 July 2019 provided:

(a)    the financial calculator is a superannuation or retirement calculator; and

(b)   the person takes reasonable steps to ensure that the calculator displays to the user in the ordinary course of its use or has printed on it a clear and prominent statement specifying whether or not the estimate takes into account an assumed change in the cost of living between the time of the preparation of the estimate and the future time.