Federal Register of Legislation - Australian Government

Primary content

ASIC Class Order [CO 13/1534]

Authoritative Version
CO 13/1534 Orders/ASIC Class Orders as amended, taking into account amendments up to ASIC Corporations (Amendment) Instrument 2019/240
Administered by: Treasury
Registered 10 Apr 2019
Start Date 06 Apr 2019
Date of repeal 15 Jun 2022
Repealed by ASIC Corporations (Repeal) Instrument 2022/499

ASIC Class Order [CO 13/1534]

About this compilation

 

Compilation No. 6

 

This is a compilation of ASIC Class Order [CO 13/1534] as in force on 6 April 2019. It includes any commenced amendment affecting the legislative instrument to that date.

 

This compilation was prepared by the Australian Securities and Investments Commission.

 

The notes at the end of this compilation (the endnotes) include information

about amending instruments and the amendment history of each amended provision.

Prepared by the Australian Securities and Investments Commission.

Australian Securities and Investments Commission
Corporations Act 2001 — Subsection 1020F(1) — Exemptions

Enabling legislation

1.    The Australian Securities and Investments Commission makes this instrument under subsection 1020F(1) of the Corporations Act 2001 (the Act).

Title

2.    This instrument is ASIC Class Order [CO 13/1534].

First exemption

Deferral of amendments affecting PDS and periodic statement disclosure

4.    A trustee of a registrable superannuation entity does not have to comply with regulations made for the purposes of:

 (a)  Division 2 of Part 7.9 of the Act (Product Disclosure Statements); or

 (b)  section 1017D of the Act (periodic statements);

to the extent those regulations were amended or made by items 7 to 68 and 70 to 86 of Schedule 1 to the Superannuation Legislation Amendment (MySuper Measures) Regulation 2013.

5.    This first exemption only applies in relation to:

 (a)  Product Disclosure Statements given before 1 July 2014; and

 (b)  periodic statements given under section 1017D of the Act in relation to reporting periods ending before 1 July 2014.

Second Exemption

Latest product dashboard in periodic statement

6.    A trustee of a regulated superannuation fund (other than a self-managed superannuation fund) that is required to make publicly available a product dashboard for the investment option, under section 1017BA of the Act, does not have to comply with section 1017D of the Act to the extent that provision requires the trustee to comply with paragraph 7.9.20(1)(o) of the Corporations Regulations 2001.

7.    This second exemption only applies in relation to periodic statements given under section 1017D of the Act in relation to reporting periods ending before 1 July 2023.

Condition

8.    A trustee that is relying on the second exemption must include in, or in a document accompanying, the periodic statement:

 (a)  a website address for the latest product dashboard for the investment option; and

 (b)  a statement to the effect that the latest product dashboard for the investment option can be found at the website address.

Interpretation

9.    In this instrument:

registrable superannuation entity has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

regulated superannuation fund has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

self-managed superannuation fund has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

 

Notes to ASIC Class Order [CO 13/1534]

Note 1

ASIC Class Order [CO 13/1534] (in force under s1020F(1) of the Corporations Act 2001) as shown in this compilation comprises that Class Order amended as indicated in the tables below.

Table of Instruments

Instrument number

Date of  FRL registration

Date of commencement

Application, saving or transitional provisions

[CO 13/1534]

12/12/2013 (see F2013L02077)

12/12/2013

 

[CO 14/55]

3/3/2014 (see F2014L00210)

3/3/2014

-

[CO 14/1217]

8/12/2014 (see F2014L01648)

8/12/2014

-

No. 338, 2015

24/4/2015 (see F2015L00586)

25/4/2015

-

2016/364

3/5/2015 (see F2016L00631)

4/5/2015

-

2017/569

23/6/2017 (see F2017L00742)

24/6/2017

-

2019/240

5/4/2019 (see F2019L00541)

6/4/2019

-

Table of Amendments

ad. = added or inserted     am. = amended   LA = Legislation Act 2003   rep. = repealed     rs. = repealed and substituted

Provision affected

How affected

Para 3..........................

rep. s48D LA

Para 4..........................

am. [CO 14/55]

Para 7..........................

am. [CO 14/1217]; No. 338, 2015; 2016/364; 2017/569 and 2019/240

Para 9..........................

am. [CO 14/55]