Australian Securities and Investments Commission Corporations (Employee redundancy funds relief) Instrument 2015/1150 (Cth)

ASIC Corporations (Employee redundancy funds relief) Instrument 2015/1150

About this compilation

Compilation No. 3

This is a compilation of ASIC Corporations (Employee redundancy funds relief) Instrument 2015/1150 as in force on 5 October 2021. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information

about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary

1    Name of legislative instrument

3    Authority

4    Definitions

Part 2—Exemptions

5    Financial services and managed investment scheme relief for employee redundancy schemes

Endnotes

Endnote 1—Instrument history

Endnote 2—Amendment history

Part 1—Preliminary

1        Name of legislative instrument

This instrument is the ASIC Corporations (Employee redundancy funds relief) Instrument 2015/1150.

3        Authority

This instrument is made under paragraphs 601QA(1)(a), 926A(2)(a), 992B(1)(a) and 1020F(1)(a) of the Corporations Act 2001 (the Act).

4        Definitions

In this instrument:

employee redundancy scheme is a scheme to which employers may make, or are required by an award or agreement to make, contributions where the primary objective of the scheme is to fund redundancy entitlements and other entitlements, incidental to employment, for employees of the employers.

Part 2—Exemptions

5        Financial services and managed investment scheme relief for employee redundancy schemes

Licensing

(1) A person does not have to comply with subsection 911A(1) of the Act where they provide financial services in relation to interests in an employee redundancy scheme.

Managed investments and associated provisions

(2) A person who operates or promotes an employee redundancy scheme does not have to comply with sections 601ED and 992A and Part 7.9 of the Act in relation to:

(a)     making offers for the issue of an interest in; or

(b)     making recommendations to acquire an interest in; or

(c)     making offers to arrange the issue of interests in; or

(d)     operating;

an employee redundancy scheme.

Sunset date

(3)     The exemptions in subsections (1) and (2) apply until 1 October 2024.

Endnotes

Endnote 1—Instrument history

Instrument number	Date of FRL registration	Date of commencement	Application, saving or transitional provisions
2015/1150	16/12/2015 (see F2015L02021)	17/12/2015
2018/825	24/9/2018 (see F2018L01335)	25/9/2018	-
2021/767	8/9/2021 (see F2021L01245)	9/9/2021	-
2021/799	22/9/2021 (see F2021L01310)	5/10/2021	-

Endnote 2—Amendment history

ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted

Provision affected	How affected
Section 2	rep. s48D LA
Section 5	am. 2018/825
Subsection 5(2)	am. 2021/799
Subsection 5(3)	am. 2021/767