Australian Securities and Investments Commission Market Integrity Rules (Chi-X Australia Market) Amendment 2017 (No. 1) (Cth)

17-1008

ASIC Market Integrity Rules (Chi-X Australia Market) Amendment 2017 (No.1)

I, Greg Yanco, delegate of the Australian Securities and Investments Commission, with the written consent of the Minister, make the following legislative instrument.

Date 10 November 2017

Greg Yanco

Contents

ASIC Market Integrity Rules (Chi-X Australia Market) 2011. 4

Part 1Preliminary1Name of legislative instrument

This instrument is ASIC Market Integrity Rules (Chi-X Australia Market) Amendment 2017 (No. 1).

2Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislative Instruments.

Note: The register may be accessed at level="2">3Authority

This instrument is made under subsection 798G(1) of the Corporations Act 2001.

4Schedule

Schedule 1 amends the ASIC Market Integrity Rules (Chi-X Australia Market) 2011.

Schedule 1Amendments

ASIC Market Integrity Rules (Chi-X Australia Market) 2011

1Rule 1.4.3, after the definition of “Financial Product Advice”

Insert:

“Foreign Quoted Shares”, in relation to an Investment Product (Transferable Custody Receipt), means shares of a foreign company that is listed on the New York Stock Exchange, NASDAQ Global Market or NASDAQ Global Select Market, where the shares are in a class of shares that is able to be traded on at least one of those financial markets.

2Rule 1.4.3, definition of “Investment Product”

Omit the definition, substitute:

“Investment Product”means an Investment Product (MIS), an Investment Product (Transferable Custody Receipt) and an Investment Product (Warrant).

3Rule 1.4.3, after the definition of “Investment Product (MIS)”

Insert:

“Investment Product (Transferable Custody Receipt)”means units of beneficial ownership in Foreign Quoted Shares where the units:

1. (a)

   arise from a custodial and sub-custodial arrangement under which:

   1. (i)

      a custodian holds, directly or indirectly, the Foreign Quoted Shares on behalf of, or in trust for, an AFSL holder that holds an AFSL that covers the provision of a custodial or depository service; and

   2. (ii)

      the AFSL holder holds their equitable rights or interests in the Foreign Quoted Shares arising from the custodial arrangement mentioned in subparagraph (i) on behalf of, or in trust for, a person; and

2. (b)

   are issued without the involvement of the issuer of the Foreign Quoted Shares; and

3. (c)

   are able to be traded on the Chi-X Market.