Australian Securities and Investments Commission Corporations (Amendment) Instrument 2020/396 (Cth)

ASIC Corporations (Amendment) Instrument 2020/396

I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date      22 April 2020

Grant Moodie

Contents

Part 1—Preliminary

1    Name of legislative instrument

2    Commencement

3    Authority

4    Schedules

Schedule 1—Amendments

ASIC Corporations (Exempt Proprietary Companies) Instrument 2015/840

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2020/396.

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 subsection 341(1) of the Corporations Act 2001.

4        Schedules

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

Schedule 1—Amendments

ASIC Corporations (Exempt Proprietary Companies) Instrument 2015/840

1        Sub-subparagraph 5(1)(d)(ii)(B)

At the end of the sub-subparagraph add “and”

2        Paragraph 5(1)(d)

After subparagraph (ii) insert the following subparagraph:

“(iii)     a financial year that ends between 31 December 2019 and 31 March 2020 (both inclusive) if, for that financial year:

(A)      the financial report was audited and sent to members within 1 month after the deadline for reporting to members; and

(B)       the directors’ report disclosed the nature and effect of the relief permitting this deferred compliance;”