Australian Securities and Investments Commission Class Order [Co 02/925] (Cth)

Australian Securities and Investments Commission

Corporations Act 2001 — Sections 655A and 673 — Revocation and Declaration

Under sections 655A and 673 of the Corporations Act 2001 (the “Act”) the Australian Securities and Investments Commission (“ASIC”) hereby revokes Class Order [00/452]. 

And under sections 655A and 673 of the Act ASIC hereby declares that Chapters 6 and 6C of the Act apply to the class of persons described in Schedule A, in the case referred to in Schedule B, as if:

1.         section 12 were modified or varied by adding the following subsection: 

“(6)      For the purposes of an associate reference in:

(a)section 610;

(b)the definition of "substantial holding" in section 9; and

(c)section 671B,

no association arises between a Call Warrant issuer and a Call Warrant holder merely because of the Call Warrant.

Note: Section 609(6C) defines Call Warrant, Call Warrant issuer and Call Warrant holder.”; and

2.         section 609 were modified or varied by inserting after subsection 609(6) the following subsections: 

“(6A)   A Call Warrant issuer does not have a relevant interest in a security held in trust under the terms of the Call Warrant where the issuer has no power to control the voting or disposal of the security (other than to enforce the terms of the trust or to retain ownership if the Call Warrant expires unexercised or the Call Warrant holder defaults) unless and until the Call Warrant expires.

(6B)     If a Call Warrant issuer has a relevant interest in a security because subsection (6A) ceases to apply, the Call Warrant issuer is taken to acquire a relevant interest in the security at that time, by a transaction in relation to the security.

(6C)     For the purposes of this section and subsection 12(6):

(a)        A “Call Warrant” is a call warrant in relation to Equity Securities for the purposes of the operating rules of Australian Stock Exchange Limited which:

(i)         was issued pursuant to an Offering Circular or a Product Disclosure Statement; and

(ii)        has been admitted to trading status in accordance with the operating rules of Australian Stock Exchange Limited.

(b)A “Call Warrant issuer” is a person who has issued a Call Warrant.

(c)        A “Call Warrant holder” is a person who has a legal or equitable interest in a Call Warrant.

(d)       “Offering Circular” has the same meaning as is given in the operating rules of Australian Stock Exchange Limited.”.

SCHEDULE A

1.         A Call Warrant issuer.

2.         A person who acquires or holds a Call Warrant, for the period the person holds the Call Warrant.

3.         Any person who would, but for the operation of this Class Order, have a relevant interest in, or voting power in relation to:

(a)        any securities which are held on trust to ensure a Call Warrant issuer’s or a Call Warrant holder’s obligations under the terms of the Call Warrant; or

(b)        any securities as a result of a person acquiring and holding a Call Warrant.

SCHEDULE B

The calculation of the relevant interests, voting power or substantial holdings of a person in the class of persons described in Schedule A, where the Offering Circular or Product Disclosure Statement for the Call Warrant stated that this Class Order, Class Order [00/452] or Class Order [99/842] was to apply.

Interpretation

For the purposes of Schedules A and B, “Call Warrant”, “Call Warrant holder” and “Call Warrant issuer” have the meanings given to those terms above in this instrument.

Dated the 10th day of September 2002

Signed by Brendan Byrne

as delegate of the Australian Securities and Investments Commission