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ASIC Corporations (Amendment) Instrument 2019/698

Authoritative Version
  • - F2019L00928
  • In force - Latest Version
Orders/ASIC Class Orders as made
This instruments amends ASIC Class Order [CO 14/1262] to extend the interim conditional relief for a further period of 24 months to enable 31-day notice term deposits of up to five years to be treated as basic deposit products under the Corporations Act 2001.
Administered by: Treasury
Registered 28 Jun 2019
Tabling HistoryDate
Tabled HR02-Jul-2019
Tabled Senate02-Jul-2019
To be repealed 17 Sep 2019
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

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ASIC Corporations (Amendment) Instrument 2019/698

I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Dated  28 June 2019

 

 

 

Anthony Graham

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2019/698.

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)(c), 951B(1)(c) and 1020F(1)(c) of the Corporations Act 2001.

4        Schedules

The instrument specified in Schedule 1 to this instrument is amended as set out in Schedule 1.

 

 


Schedule 1—Amendments

ASIC Class Order [CO 14/1262]

1        Paragraph 4A (paragraph (b) of the notional definition of basic banking product in section 910A of the Corporations Act 2001)

Omit “that is related to a basic deposit product”.

2        Paragraph 4A (paragraph (e) of the notional definition of basic banking product in section 910A of the Corporations Act 2001)

Omit “this paragraph”, substitute “paragraph 961F(e)”.

3        Paragraph 6 (subparagraph (a) of the definition of affected term deposit)

Omit “, (da)”.

4        Paragraph 6 (sub-subparagraph (c)(i) of the definition of affected term deposit)

Omit “30 June 2019”, substitute “30 June 2021”.