Australian Securities and Investments Commission Class Order [Co 05/643] (Cth)

Australian Securities and Investments Commission

Corporations Act 2001 – Subsection 341(1) – Order

Enabling provision

1. The Australian Securities and Investments Commission makes this order under subsection 341(1) of the Corporations Act 2001 (the Act).

Title

2.         This order is ASIC Class Order [CO 05/643].

Commencement

3.         This order commences on the date it is registered under the Legislative Instruments Act 2003.

Note:      An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register).  The FRLI may be accessed at

Relief enabling one financial statement for related schemes

4.         A registered scheme (the scheme) does not have to comply with subsection 292(1) and section 302 of the Act to the extent that sections 295, 303 or subsection 314(2) of the Act prevent the financial report for a financial year (the relevant period) or half-year (the relevant period) or concise report for a financial year including the single entity or consolidated financial statements, notes thereto and directors’ declaration of other registered schemes (each a related scheme) which have the same responsible entity as the scheme.

When relief is available

5.         This relief is available only where all of the following apply:

(a)        There is a facility in place for a holder of an interest in the scheme to withdraw from the scheme in whole or in part and for the proceeds of the withdrawal to be applied to the acquisition of an interest in any related scheme.

(b) All of the related schemes are required to prepare financial reports for the relevant period in accordance with Chapter 2M of the Act.

(c)        All of the related schemes rely on this order for the relevant period.

(d)        The financial statements of the scheme and all the related schemes are presented in adjacent columns in the financial report for the scheme. 

(e)        In any concise report for the scheme, all of the financial statements for the scheme and all related schemes are presented in adjacent columns, except that single entity financial statements need not be included for a registered scheme whose consolidated financial statements are included.

Dated this 29th day of July 2005.

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investment Commission