ASIC Corporations (Amendment) Instrument 2018/40

I, Stephen Yen PSM, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date: 9 March 2018
 

Stephen Yen

Contents

Part 1—Preliminary

1 Name of legislative instrument

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

ASIC Corporations (Generic Calculators) Instrument 2016/207

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2018/40.

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 paragraphs 926A(2)(a) and 951B(1)(a) 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.

Schedule 1—Amendments

ASIC Corporations (Generic Calculators) Instrument 2016/207

1 Section 7

 Repeal the section, substitute:

7 Condition dealing with inflation

A person who relies on the exemption in subsection 5(1) does not have to comply with subparagraph 6(1)(d)(iv) before 1 July 2019 provided:

(a)   the financial calculator is a superannuation or retirement calculator; and

(b)   the person takes reasonable steps to ensure that the calculator displays to the user in the ordinary course of its use or has printed on it a clear and prominent statement specifying whether or not the estimate takes into account an assumed change in the cost of living between the time of the preparation of the estimate and the future time.