Australian Securities and Investments Commission Class Order [CO 07/90] (Cth)

Australian Securities and Investments Commission

Corporations Act 2001 — Paragraphs 601QA(1)(a), 911A(2)(l) and 1020F(1)(a) — Variation

Enabling legislation

1. The Australian Securities and Investments Commission (ASIC) makes the variations set out in this instrument under paragraphs 601QA(1)(a), 911A(2)(l) and 1020F(1)(a) of the Corporations Act 2001.

Title

2.         This instrument is ASIC Class Order [CO 07/90].

Commencement

3.         This instrument commences on the later of:

(a)        the date of its gazettal; and

(b)        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 ASIC Class Order [CO 02/237] is varied by:

(a)        under the heading “First Exemption — Rental pools operated by operators of time-sharing schemes that are exempt from the managed investment provisions”:

(i)         in subparagraph 1(e) omitting “six” and substituting “6”; and

(ii)        in subparagraph 1(g) omitting “product;” and substituting “product; and”; and

(iii)       in subparagraph 1(h) omitting “; and” and substituting “.”; and

(iv)       omitting subparagraph 1(j),

(b)        under the heading “Second Exemption — Disclosure relief for rental pools forming part of registered time-sharing schemes”:

(i)        omitting “disclosure document or”; and

(ii)       omitting “Parts 6D.2 and 6D.3 and”; and

(iii)       in paragraph (b) omitting “six” and substituting “6”; and

(iv)       in paragraph (c) omitting “audit; “ and substituting “audit; and”; and

(v)        in paragraph (d) omitting “Exemption; and” and substituting “Exemption.”; and

(vi)      omitting paragraph (e).

Dated the 8th day of February 2007

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