Part 1—Preliminary
1 Name of legislative instrument
This is the ASIC Corporations (Amendment) Instrument 2020/200.
2 Commencement
This instrument commences on the later of:
(a) the date of its gazettal; and
(b) 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 paragraph 911A(2)(l) and 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 concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Schedule 1—Amendments
ASIC Corporations (Repeal and Transitional) Instrument 2016/396
1 Subitem 1(1) of Schedule 2
Omit “exemption.”, substitute:
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 Subitem 1(2) of Schedule 2
Omit all the words after “relying on the exemption”, substitute:
(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 Subitem 1(3) of Schedule 2
Omit “31 March 2020”, substitute “31 March 2022”.
ASIC Corporations (Foreign Financial Services Providers—Limited Connection) Instrument 2017/182
4 Section 3
Omit “31 March 2020”, substitute “31 March 2022”.
ASIC Corporations (CSSF-Regulated Financial Services Providers) Instrument 2016/1109
5 Section 3
Omit “31 March 2020”, substitute “31 March 2022”.
6 At the end of section 8
Add:
(3) A CSSF-regulated financial services provider can only rely on this instrument on or after 1 April 2020 if the provider was able to rely on this instrument on 31 March 2020.