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ASIC Corporations (Amendment) Instrument 2020/635

Authoritative Version
  • - F2020L01020
  • No longer in force
Other as made
This instrument provides that the exemption from the requirement to hold an Australian financial services licence covering the provision of certain financial product advice (in limited circumstances), in ASIC Corporations (Financial Counselling Agencies) Instrument 2017/792, also applies where financial counselling services are provided to small businesses.
Administered by: Treasury
Registered 14 Aug 2020
Tabling HistoryDate
Tabled HR24-Aug-2020
Tabled Senate24-Aug-2020
Date of repeal 01 Dec 2020
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.
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Commonwealth Coat of Arms and ASIC logo

ASIC Corporations (Amendment) Instrument 2020/635

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

 

Date    14 August 2020

 

 

 

 

Anthony Graham

 

 

 

 

Contents

Part 1—Preliminary  3

1    Name of legislative instrument 3

2    Commencement 3

3    Authority. 3

4    Schedules. 3

Schedule 1—Amendments  4

ASIC Corporations (Financial Counselling Agencies) Instrument 2017/792. 4

 

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2020/635.

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 paragraph 926A(2)(a) of the Corporations Act 2001.

4        Schedules

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

Schedule 1—Amendments

ASIC Corporations (Financial Counselling Agencies) Instrument 2017/792

1        Section 4

Insert:

small business means a business with less than 100 employees.  

2        Section 4 (definition of financial counselling service)

After “individuals”, insert “or small businesses”.