Australian Securities and Investments Commission Corporations (Relevant interests, Australian Securities and Investments Commission and Australian Securities and Investments Commission Chairperson) Instrument 2023/194 (Cth)

ASIC Corporations (Relevant interests, ASIC and ASIC Chairperson) Instrument 2023/194

I, Claire LaBouchardiere, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date    17 March 2023  

Claire LaBouchardiere

Contents

Part 1—Preliminary

1    Name of legislative instrument

2    Commencement

3    Authority

4    Definitions

Part 2—Declaration

5    Relevant interests, ASIC and ASIC Chairperson

Part 3—Repeal

6    Repeal

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Relevant interests, ASIC and ASIC Chairperson) Instrument 2023/194.

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 paragraphs 655A(1)(b), 669(1)(b) and 673(1)(b) of the Act.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.

Part 2—Declaration

5        Relevant interests, ASIC and ASIC Chairperson

(1) Chapters 6 and 6C of the Act applies to all persons as if section 609 of the Act were modified or varied by, after notional subsection (13), inserting:

“ASIC

(14)   Subject to subsection (15), ASIC does not have a relevant interest in securities.

(15)   ASIC may have a relevant interest in securities if:

(a)     the securities are vested in, or held by, ASIC for and on behalf of the Commonwealth; or

(b)     the securities are vested in, or held by, the Commonwealth on trust.

(16)   To avoid doubt, the Chairperson of ASIC does not have a relevant interest in securities merely because ASIC has a relevant interest in securities and the Chairperson holds that office.”.

Note: Notional subsection 609(13) of the Act is inserted by ASIC Class Order [CO 13/520].

(2) Chapters 6, 6A and 6C of the Act apply to all persons as if subsection 12(2) of the Act were modified or varied by, after “if, and only if,” inserting “neither of the persons is ASIC and”.

Part 3—Repeal

6        Repeal

This instrument is repealed at the start of 1 April 2028.