Australian Securities and Investments Commission

Corporations Act 2001 — Paragraph 911A(2)(l) — Variation

Enabling provision

1. The Australian Securities and Investments Commission makes this instrument under paragraph 911A(2)(l) of the Corporations Act 2001.

Title

2. This instrument is ASIC Class Order [CO 05/957].

Commencement

3. This instrument commences on the later of:

(a) the date of its gazettal; and

(b) the date it is registered under the Legislative Instruments Act 2003.

Note: An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register).  The FRLI may be accessed at http://www.frli.gov.au/.

Variation

4.              ASIC Class Order [CO 03/1102] is varied as follows:

(a) in Schedule A omit paragraph (a), substitute:

“(a) the body:

(i) has a current capital market services licence; or

(ii) has a current banking licence; or

(iii) is a merchant bank approved as a financial institution;”;

(b) in Schedule B omit paragraph 2(a), substitute:

“(a) either:

(i) a copy of the capital market services licence or banking licence granted to it by MAS; or

(ii) evidence that ASIC has stated in writing is adequate that it is a merchant bank approved as a financial institution;”;

(c) in Schedule C (subparagraph 2(a)(i)) omit “licence”, substitute “licence, banking licence or approval of the merchant bank as a financial institution”; and

(d) under the heading “Interpretation” after the definition of “Agent”, insert:

“approval of a merchant bank as a financial institution means approval granted by MAS under section 28 of the Monetary Authority of Singapore Act 1970 of Singapore;
 

banking licence means a licence granted by MAS under section 7 or section 79 of the Banking Act 1970 of Singapore;”.
 

Dated this 23rd day of September 2005

Signed by Stephen Yen PSM

as a delegate of the Australian Securities and Investments Commission