ASIC Corporations (Amendment) Instrument 2024/618

I, Alexandra Purvis, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 24 September 2024

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 (Employee redundancy funds relief) Instrument 2015/11504

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2024/618.

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 601QA(1)(a), 926A(2)(a), 992B(1)(a) and 1020F(1)(a) 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Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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 (Employee redundancy funds relief) Instrument 2015/1150

1 Subsection 5(3)

Omit “1 October 2024”, substitute “the start of 1 April 2026”.

2 After subsection 5(3)

Insert:

Condition

(4) A person who relies on any of the exemptions in subsections (1) and (2) in relation to an employee redundancy fund must notify ASIC in writing of its reliance on the exemption and the name of the fund by the later of:

(a) 31 October 2024; and

(b) one month after the day the person first relies on the exemption in relation to the fund.