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ASIC Corporations (Amendment) Instrument 2019/1145

Authoritative Version
  • - F2019L01456
  • In force - Latest Version
Other as made
This instrument amends the ASIC Corporations (Professional Standards—Transitional) Instrument 2018/894 to provide relief to Australian Financial Services licensees from having to comply with the compliance scheme obligations and related notice obligations in Part 7.6 of the Corporations Act 2001.
Administered by: Treasury
Registered 14 Nov 2019
Tabling HistoryDate
Tabled HR25-Nov-2019
Tabled Senate25-Nov-2019
To be repealed 25 Feb 2020
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003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 2019/1145

I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date    8 November 2019

 

Grant Moodie

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2019/1145.

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 subsection 926A(2) 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 (Professional Standards—Transitional) Instrument 2018/894

1        Section 4

Insert the following definition in the appropriate alphabetical order:

compliance scheme has the meaning given by section 921G of the Act.

2        At the end of the instrument

Add:

Part 3—Exemption

13      Suspension of compliance scheme framework

(1)     A financial services licensee does not have to comply with:

(a)     section 921H of the Act; or

(b)     sections 922D, 922E, 922F, 922L and 1546W of the Act to the extent those sections impose an obligation on a financial services licensee to lodge a notice with ASIC in relation to a compliance scheme.

(2)     Subsection (1) applies until 31 October 2022.