Australian Securities and Investments Commission Class Order [Co 10/737] (Cth)

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

Enabling legislation

1. The Australian Securities and Investments Commission makes this instrument under paragraph 911A(2)(l) of the Corporations Act 2001.

Title

2.       This instrument is ASIC Class Order [CO 10/737].

Commencement

3.       This instrument commences on the later of:

(a)      the date it is registered under the Legislative Instruments Act 2003; and

(b)     the date of its gazettal.

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 Class Order [CO 03/1099]

4. ASIC Class Order [CO 03/1099] is varied by, in paragraph 1 of Schedule B:

(a)     in subparagraph (i) omitting “or”;

(b)     after subparagraph (i), inserting the following subparagraph:

“(ia)   managed investment products; or”. 

ASIC Class Order [CO 03/1100]

5. ASIC Class Order [CO 03/1100] is varied by:

(a)     in paragraph (a) of Schedule A:

(i)      in subparagraph (i):

(A)    omitting “that:” and substituting “that is a member of FINRA and FINRA is the body’s examining authority; or”;

(B)     omitting sub-subparagraphs (A) and (B);

(ii)     in subparagraph (ii) omitting “the NYSE or NASD;” and substituting “FINRA;”;

(b)     in paragraph 1 of Schedule B:

(i)      in subparagraph (h) omitting “or”;

(ii)     after subparagraph (h) inserting the following subparagraph:

“(ha)  managed investment products; or”;  

(c)     under the heading “Interpretation”:

(i)      after the definition of financial services law, inserting the following definition:

“FINRA means the Financial Industry Regulation Authority;”;

(ii)     omitting the definitions of NASD and NYSE;

(iii)     in the definition of registered investment adviser after “body corporate”, inserting “or a partnership formed in the US or a State of the US”; 

(iv)    omitting the definition of US regulatory requirements, substitute:

“US regulatory requirements means the rules that apply in relation to the financial services including: 

(a)     any applicable legislation, instruments made under that legislation and any relevant policies or other documents (however described) issued by the SEC; and

(b)     if the body is covered by subparagraph (a)(i) of Schedule A but not subparagraphs (a)(ii) or (iii) of that Schedule—any applicable rules, policies or other documents (however described) of FINRA; and”.       

ASIC Class Order [CO 03/1103]

6. ASIC Class Order [CO 03/1103] is varied by, in paragraph 1 of Schedule B:

(a)     in subparagraph (g) omitting “or”;

(b)     after subparagraph (g), inserting the following subparagraph:

“(ga)  managed investment products; or”. 

ASIC Class Order [CO 04/829]

7. ASIC Class Order [CO 04/829] is varied by, in paragraph 1 of Schedule B:

(a)     in subparagraph (f) omitting “or”;

(b)     after subparagraph (f), inserting the following subparagraph:

“(fa)   managed investment products; or”. 

Dated this 31st day of August 2010

Signed by Stephen Yen PSM

as a delegate of the Australian Securities and Investments Commission