Australian Securities and Investments Commission Corporations (Amendment and Repeal) Instrument 2023/649 (Cth)

ASIC Corporations (Amendment and Repeal) Instrument 2023/649

I, Leah Sciacca, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date    30 August 2023

Leah Sciacca

Contents

Part 1—Preliminary

1    Name of legislative instrument

2    Commencement

3    Authority

4    Schedules

Schedule 1—Amendments

ASIC Corporations (Financial Requirements for CSF Intermediaries) Instrument 2017/339

ASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669

ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849

ASIC Corporations (Foreign Financial Services Providers—Foreign AFS Licensees) Instrument 2020/198

Schedule 2—Repeals

ASIC Class Order [CO 13/760]

ASIC Class Order [CO 13/761]

ASIC Corporations (Financial Requirements for Corporate Directors of Retail Corporate Collective Investment Vehicles) Instrument 2022/449

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment and Repeal) Instrument 2023/649.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note:    The register may be accessed at Authority

This instrument is made under subsections 283GA(1), 601QA(1), 655A(1), 741(1), 926A(2), 992B(1), 1020F(1) and 1100ZK(2) of the Corporations Act 2001.

4        Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

ASIC Corporations (Financial Requirements for CSF Intermediaries) Instrument 2017/339

1        Section 5 (notional subsection 912AH)

Omit “ASIC Class Order [CO 13/761]” (wherever occurring), substitute “ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648”.

ASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669

2        Section 4 (paragraphs (d) and (e) of the definition of applicable ASIC legislative instrument)

Repeal the paragraphs, substitute:

(d)     ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 2023/647;

(e)     ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648;

ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849

3          Subparagraph 6(a)(ii) (note)

Omit “ASIC Class Orders [CO 13/760] and [CO 13/761]”, substitute “ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 2023/647 and   ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648”.

4          Paragraph 7(1)(b)

Omit “ASIC Class Order [CO 13/761]”, substitute “ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648”.

5          Subsection 7(1) (note)

Omit “ASIC Class Order [CO 13/761]”, substitute “ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648”.

ASIC Corporations (Foreign Financial Services Providers—Foreign AFS Licensees) Instrument 2020/198

6          Paragraph 18(1)(d)

Omit “ASIC Class Order [CO 13/761]”, substitute “ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648”.

Schedule 2—Repeals

ASIC Class Order [CO 13/760]

1        The whole of the instrument

Repeal the instrument.

ASIC Class Order [CO 13/761]

2        The whole of the instrument

Repeal the instrument.

ASIC Corporations (Financial Requirements for Corporate Directors of Retail Corporate Collective Investment Vehicles) Instrument 2022/449

3        The whole of the instrument

Repeal the instrument.