Australian Securities and Investments Commission Corporations (Amendment) Instrument 2022/519 (Cth)

ASIC Corporations (Amendment) Instrument 2022/519

I, Douglas Niven, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date    24 June 2022

Douglas Niven

Contents

Part 1—Preliminary

1    Name of legislative instrument

2    Commencement

3    Authority

4    Schedules

Schedule 1—Amendments

ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2022/519.

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 341(1) and 992B(1) 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Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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 (Rounding in Financial/Directors’ Reports) Instrument 2016/191

1        Section 4 (paragraph (d) of the definition of entity)

Omit “.”, substitute “;”.

2        Section 4 (after paragraph (d) of the definition of entity)

Insert:

(e)     a sub-fund of a CCIV.

3        Section 4 (subparagraph (a)(ii) of the definition of rounding factor)

After “(AASB 2)”, insert “or paragraph 168 of Accounting Standard AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities (AASB 1060)”.

4        Section 4 (subparagraph (a)(iii) of the definition of rounding factor)

After “AASB 1054 Australian Additional Disclosures”, insert “or paragraph 194 of AASB 1060”.

5        Section 4 (subparagraph (a)(iv) of the definition of rounding factor)

After “(AASB 124)”, insert “or paragraph 194 of AASB 1060”.

6        Section 4 (subparagraph (a)(v) of the definition of rounding factor)

After “paragraphs 18”, insert “, 18A”.

7        Section 4 (subparagraph (a)(v) of the definition of rounding factor)

After “AASB 124”, insert “or paragraphs 196, 198 and 199 of AASB 1060”.

8        Section 4 (paragraph (c) of the definition of rounding factor)

After “AASB 2”, insert “, paragraph 164 of AASB 1060”.