Australian Securities and Investments Commission Class Order [Co 02/803] (Cth)

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraph 911A(2)(l) — Exemption

Pursuant to paragraph 911A(2)(l) of the Corporations Act 2001 (the "Act") the Australian Securities and Investments Commission hereby specifies that until 11 March 2004 the provision of a financial service is covered by an exemption from the requirement to hold an Australian financial services licence if that financial service is provided in the following circumstances:

(i)         a person (person 1) is a person that is not in this jurisdiction;

(ii)        person 1 arranges, on behalf of another person (person 2), for the holder of a dealers licence within the meaning of the old Corporations Act or the holder of a futures brokers licence within the meaning of the old Corporations Act (person 3) to deal in a financial product that such licence (as in force immediately before the FSR commencement) authorised person 3 to deal in;

(iii)       the dealing by person 3 is within the scope of their regulated activities and occurs within their transition period;

(iv)       person 1 believes on reasonable grounds that person 2 is not in this jurisdiction.

Interpretation

In this instrument:

1. "FSR commencement" and "old Corporations Act" have the same meanings as in subsection 1410(1) of the Act; and

2. "regulated activities" has the same meaning as in section 1430 of the Act; and

3. "transition period" has the same meaning as in subsection 1431(1) of the Act.

Note: In this instrument "this jurisdiction" is intended to mean Australia: see the Act at section 5 and section 9 (definition of "this jurisdiction").

Dated the 17th day of July 2002

Signed by Brendan Byrne
as a delegate of the Australian Securities and Investments Commission