Australian Securities and Investments Commission Corporations (Amendment) Instrument 2019/784 (Cth)

ASIC Corporations (Amendment) Instrument 2019/784

I, Jennifer Dolphin, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date   13 September 2019

Jennifer Dolphin

Contents

Part 1—Preliminary

1    Name of legislative instrument

2    Commencement

3    Authority

4    Schedules

Schedule 1—Amendments

ASIC Corporations (Short Selling) Instrument 2018/745

ASIC Class Order [CO 13/655]

ASIC Class Order [CO 13/721]

ASIC Class Order [CO 13/1200]

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2019/784.

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 601QA(1) and 1020F(1) of the Corporations Act 2001.

4        Schedules

Each instrument that is specified in a Schedule to this instrument is amended as set out in the applicable items in the Schedule concerned.

Schedule 1—Amendments

ASIC Corporations (Short Selling) Instrument 2018/745

1        Section 5 (notional subsection 1020B(4A) of the Act)

Omit notional paragraph 1020B(4A)(b), substitute:

(b)     the sale is in the course of making a market in the shorted product on a financial market operated by ASX Limited or Chi-X Australia Pty Ltd.

2        Subsection 13(2)

Omit the subsection, substitute:

(2)     Subsection (1) applies in relation to a sale of interests in, or securities of, an exchange traded fund or a managed fund by the ETF market maker in the course of making a market in those interests or securities on a financial market operated by ASX Limited or Chi-X Australia Pty Ltd.

ASIC Class Order [CO 13/655]

3        Paragraph 4(b) (notional subparagraph 601GAE(2)(a) of the Act)

Omit notional subparagraphs 601GAE(2)(a)(ii) and (iii), substitute:

(ii)     for exchange traded funds or managed funds—are in a class of interests that are able to be traded on a financial market operated by ASX or Chi-X,

ASIC Class Order [CO 13/721]

4        Paragraph 9

Omit the paragraph, substitute:

9. A responsible entity of an exchange traded fund or a managed fund whose interests are in a class of interests that are able to be traded on a financial market operated by ASX or Chi-X, does not have to comply with section 1017B of the Act for as long as the conditions in paragraph 10 are met.

ASIC Class Order [CO 13/1200]

5        Paragraph 8(b)

Omit the paragraph, substitute:

(b)     an interest in an exchange traded fund or a managed fund whose interests are in a class of interests that are able to be traded on a financial market operated by ASX or Chi-X;