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ASIC Corporations (Amendment) Instrument 2021/550

Authoritative Version
  • - F2021L00780
  • No longer in force
Other as made
This instrument amends the ASIC Corporations (Superannuation and Schemes: Underlying Investments) Instrument 2016/378 to extend the Australian financial services licence (AFSL) relief in the section 5 exemption to trustees of registrable superannuation entities.
Administered by: Treasury
Registered 18 Jun 2021
Tabling HistoryDate
Tabled HR21-Jun-2021
Tabled Senate22-Jun-2021
Date of repeal 01 Sep 2021
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003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 2021/550

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

 

Date 16 June 2021

 

 

 

Anthony Graham

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2021/550.

2        Commencement

This instrument commences on the later of:

(a)     the day after it is registered on the Federal Register of Legislation; and

(b)     1 July 2021.

Note:    The register may be accessed at www.legislation.gov.au.

3        Authority

This instrument is made under subsections 926A(2) and 951B(1) of the Corporations Act 2001.

4        Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms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

ASIC Corporations (Superannuation and Schemes: Underlying Investments) Instrument 2016/378

1        Section 4 (definition of public offer entity)

Repeal the definition.

2        Section 5

Repeal the section, substitute:

5     Licensing: Registrable superannuation entities

(1)     A person in the capacity of the trustee of a registrable superannuation entity does not have to comply with subsection 911A(1) of the Act for dealing in a financial product (other than an interest in the entity) in the ordinary course of operation of the entity.

(2)     The exemption in subsection (1) applies until 31 December 2022.