Australian Securities and Investments Commission Class Order [Co 02/182] (Cth)

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraphs 601QA(1)(a), 741(1)(a), 911A(2)(l),
992B(1)(a) and 1020F(l)(a) — Revocation and Exemption

1.Under paragraphs 601QA(l)(a) and 741(1)(a) of the Corporations Act 2001 (the "Act"), the Australian Securities and Investments Commission ("ASIC") hereby revokes Class Order [00/209].

2.Under paragraphs 601QA(1)(a), 911A(2)(l), 992B(1)(a) and 1020F(l)(a) of the Act ASIC hereby:

(a) exempts each person referred to in Schedule A in the cases specified in Schedule B from Chapter 5C, sections 992A and 992AA and Part 7.9 of the Act;

(b) exempts each other person who is a responsible person to whom section 1012A of the Act would apply, from Part 7.9 of the Act in relation to a recommendation that a client acquire an interest in a managed investment scheme referred to in Schedule B; and

(c)      exempts all persons from the requirement to hold an Australian financial services licence for the provision of financial services by the person in relation to interests in a managed investment scheme referred to in Schedule B.

SCHEDULE A

A real estate agent licensed in a State or Territory who operates or promotes a scheme of the kind specified in Schedule B and any registered proprietor of a unit or an interest in real property as described in Schedule B.

SCHEDULE B

Making offers to issue or sell an interest in, making offers to arrange the issue of an interest in, making a recommendation to acquire an interest in, and operating, a managed investment scheme which consists of an owner or owners (other than owners who acquired their real property interest as a joint owner as part of the scheme) of an interest in real property making their interest in real property available to a real estate agent licensed in a State or Territory for letting purposes (including day to day management of any lease arrangement) other than for use as part of a serviced apartment, hotel, motel or resort complex.

Commencement

This instrument takes effect on the commencement of Schedule 1 to the Financial Services Reform Act 2001.

Dated this 16th day of February 2002

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission