Australian Securities and Investments Commission Class Order [Co 03/824] (Cth)

Australian Securities and Investments Commission

Corporations Act 2001 — Paragraph 911A(2)(l) — Exemption

1. Under paragraph 911A(2)(l) of the Corporations Act 2001 (the Act), the Australian Securities and Investments Commission exempts a person from the requirement to hold an Australian financial services licence for the provision of a financial service where all of the following apply:

(a)        the service is provided to wholesale clients only; and

(b) but for section 911D of the Act, the person would not be carrying on a financial services business in this jurisdiction; and

(c)        the person does not hold an Australian financial services licence covering the provision of the service.

Commencement

2.         This instrument takes effect on gazettal.

Interpretation

3.         In this instrument, wholesale client has the meaning given by section 761G of the Act.

Dated this 26th day of September 2003

Signed by Stephen Yen, PSM

as a delegate of the Australian Securities and Investments Commission