Australian Securities and Investments Commission Corporations (Amendment) Instrument 2023/24 (Cth)

ASIC Corporations (Amendment) Instrument 2023/24

I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date    25 January 2023

Anthony Graham

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

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2023/24.

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 1020F(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Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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 (Short Selling) Instrument 2018/745

1        Section 11 (notional subsection 1020B(7H))

Repeal the notional subsection, substitute:

“(7H)        A person must only, in this jurisdiction, sell section 1020B products to a buyer on a licensed market during a deferred settlement trading period if, at the time of the sale:

(a)     the person is or, if the person is selling on behalf of another person, that other person is; or

(b)     the person believes on reasonable grounds that the person is or, if the person is selling on behalf of another person, that other person is;

in a class of persons who, because such persons hold financial products of a particular class, have an entitlement to be issued with or transferred the section 1020B products under or in connection with the corporate action.”.