Federal Register of Legislation - Australian Government

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Other as amended, taking into account amendments up to ASIC Corporations (Amendment) Instrument 2020/200
Administered by: Treasury
Registered 21 Mar 2020
Start Date 17 Mar 2020
Table of contents.

ASIC Corporations (Repeal and Transitional) Instrument 2016/396

 

About this compilation

 

Compilation No. 3

 

This is a compilation of ASIC Corporations (Repeal and Transitional) Instrument 2016/396 as in force on 17 March 2020. 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.

 

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Repeal and Transitional) Instrument 2016/396.

3        Authority

This instrument is made under paragraph 911A(2)(l) of the Corporations Act 2001.

4        Schedules

Each instrument that is specified in a Schedule to this instrument is repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.


Schedule 1—Repeals

ASIC Class Order [CO 03/1099]

1        The whole of the instrument

Repeal the instrument.

ASIC Class Order [CO 03/1100]

2        The whole of the instrument

Repeal the instrument.

ASIC Class Order [CO 03/1101]

3        The whole of the instrument

Repeal the instrument.

ASIC Class Order [CO 03/1102]

4        The whole of the instrument

Repeal the instrument.

ASIC Class Order [CO 03/1103]

5        The whole of the instrument

Repeal the instrument.

ASIC Class Order [CO 04/829]

6        The whole of the instrument

Repeal the instrument.

ASIC Class Order [CO 04/1313]

7        The whole of the instrument

Repeal the instrument.


Schedule 2—Savings

Transitional continuation of relief given by repealed ASIC Class Orders

1        Transitional licensing relief

(1)     An exemption specified in an ASIC Class Order specified in Schedule 1 as in force immediately before its repeal, continues to apply by force of this item, in the circumstances and on the conditions specified in relation to the exemption, provided that a circumstance or condition that requires a person to have provided ASIC with evidence of a matter that ASIC has stated in writing is adequate is taken to be satisfied if the person has provided ASIC with evidence of that matter.

Note:    See paragraph 2(a) of Schedule B to each of ASIC Class Orders [CO 03/1100], [CO 03/1101], [CO 03/1103], [CO 04/829] and [CO 04/1313] and subparagraph 2(a)(ii) of Schedule B to ASIC Class Order [CO 03/1102].

(2)     An exemption that continues to apply by force of subitem (1) applies provided any person relying on the exemption

(a)     complies with any written notice given by ASIC directing the person to give to ASIC, within the time specified in the notice, a written statement containing specified information about the financial service business operated by the person in this jurisdiction; and

(b)     if the person is relying on the exemption on or after 1 April 2020—was able to rely on the exemption on 31 March 2020.

(3)     Subitems (1) and (2) have effect for the period commencing on the day this instrument commences and ending on 31 March 2022.


Endnotes

Endnote 1—Instrument history

Instrument number

Date of FRL registration

Date of commencement

Application, saving or transitional provisions

2016/396

27/9/2016 (see F2016L01497)

28/9/2016

 

2018/807

24/9/2018 (see F2018L01336)

25/9/2018

-

2019/902

5/9/2019 (see F2019L01144)

10/9/2019

-

2020/200

10/3/2020 (see F2020L00239)

17/3/2020

-

Endnote 2—Amendment history

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

Provision affected 

How affected

Section 2

rep. s48D LA

Subitem 1(1) of Schedule 2


am. 2020/200

Subitem 1(2) of Schedule 2


am. 2020/200

Subitem 1(3) of Schedule 2


am. 2018/807; 2019/902 and 2020/200