Australian Securities and Investments Commission Corporations and Credit (Amendment and Repeal) Instrument 2016/1182 (Cth)

ASIC Corporations and Credit (Amendment and Repeal) Instrument 2016/1182

I, Stephen Yen PSM, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date: 12 December 2016

Stephen Yen

Contents

Part 1—Preliminary

1    Name of legislative instrument

2    Commencement

3    Authority

4    Schedules

5    Repeal of amending and repealing instruments

6        Definitions

Schedule 1—Amendments

ASIC Class Order [CO 02/237]

ASIC Class Order [CO 09/425]

ASIC Class Order [CO 10/654]

ASIC Class Order [CO 12/752]

ASIC Class Order [CO 13/760]

ASIC Class Order [CO 13/761]

ASIC Class Order [CO 13/762]

ASIC Class Order [CO 13/763]

ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73

ASIC Corporations (Disclosing Entities) Instrument 2016/190

Schedule 2—Repeals

ASIC Class Order [CO 14/757]

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations and Credit (Amendment and Repeal) Instrument 2016/1182.

2        Commencement

This instrument commences on the later of:

(a)     the date of its gazettal; and

(b)     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), 341(1), 601QA(1), 601YAA(1), 741(1), 926A(2), 951B(1), 992B(1) and 1020F(1) and paragraph 911A(2)(l) of the Corporations Act 2001 and subsection 109(3) of the National Consumer Credit Protection Act 2009.

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Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

5        Repeal of amending and repealing instruments

(1)     The repeal of an instrument by section 4 does not affect any amendment to or repeal of another instrument (however described) made by the instrument.

(2) Subsection (1) does not limit the effect of section 7 of the Acts Interpretation Act 1901 as it applies to the repeal of an instrument by section 4 of this instrument.

6        Definitions

In this instrument:

Act means the Corporations Act 2001.

Schedule 1—Amendments

ASIC Class Order [CO 02/237]

1        Subparagraph 1(e) (under the heading “First Exemption — Rental pools operated by operators of time-sharing schemes that are exempt from the managed investment provisions”)

Omit “or an affected auditor (as defined in ASIC Class Order [CO 14/757])”.

2        Subparagraph (b) (under the heading “Second Exemption — Disclosure relief for rental pools forming part of registered time-sharing schemes”)

Omit “or an affected auditor (as defined in ASIC Class Order [CO 14/757])”.

ASIC Class Order [CO 09/425]

3        Paragraph 7A.

Repeal the paragraph.

ASIC Class Order [CO 10/654]

4        Paragraph 7.

Repeal the paragraph.

ASIC Class Order [CO 12/752]

5        Paragraph 4 (notional subsection 912AB(11) of the Act)

Omit “or an affected auditor (as defined in ASIC Class Order [CO 14/757])”.

ASIC Class Order [CO 13/760]

6        Paragraph 4 (notional subsection 912AA(12) of the Act)

Omit the notional subsection.

ASIC Class Order [CO 13/761]

7        Paragraph 4 (notional subsection 912AC(10) of the Act)

Omit “or an affected auditor (as defined in ASIC Class Order [CO 14/757])”.

ASIC Class Order [CO 13/762]

8        Subparagraph 6(c) (notional paragraph 1013DAB(20)(aa) of the Act)

Omit the notional paragraph.

ASIC Class Order [CO 13/763]

9        Paragraph 6 (notional subsection 912AD(45) of the Act)

Omit the notional subsection.

ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73

10      Paragraph 5(a) (definition of technical relief instrument, table item 17)

Repeal the item.

ASIC Corporations (Disclosing Entities) Instrument 2016/190

11      Subsection 5(3)

Repeal the subsection.

Schedule 2—Repeals

ASIC Class Order [CO 14/757]

1        The whole of the instrument

Repeal the instrument.