Corporations Amendment Regulation 2013 (No. 2) (Cth)

Corporations Amendment Regulation 2013 (No. 2)

Select Legislative Instrument No. 83, 2013

I, Quentin Bryce AC CVO, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the Corporations Act 2001.

Dated             16 May 2013

Quentin Bryce

Governor‑General

By Her Excellency’s Command

William Richard Shorten

Minister for Financial Services and Superannuation

Contents

1............ Name of regulation............................................................................. 1

2............ Commencement.................................................................................. 1

3............ Authority............................................................................................ 1

4............ Schedule(s)......................................................................................... 1

Schedule 1—Amendments                                                                       2

Corporations Regulations 2001                                                           2

1Name of regulation

This regulation is the Corporations Amendment Regulation 2013 (No. 2).

2Commencement

This regulation commences on 1 July 2013.

3Authority

This regulation is made under the Corporations Act 2001.

4Schedule(s)

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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

Corporations Regulations 2001

1  After Division 4 of Part 7.7A

Insert:

Division 6—Exemptions from application of Part 7.7A of the Act

7.7A.40 Exemption from application of Part 7.7A of the Act

For paragraph 1368(d) of the Act, Part 7.7A of the Act does not have effect in relation to a financial services licensee or an authorised representative in respect of financial services provided to retail clients who are not in this jurisdiction.

2  After regulation 9.12.03

Insert:

9.12.04  Exemption from provisions of Chapter 7—compliance with ASIC exemptions

(1) For paragraph 1368(a) of the Act, Division 2 of Part 7.7A of the Act does not have effect in relation to a person to whom one of the following exemptions made by ASIC is stated to apply:

(a) ASIC Class Order [CO 05/736];

(b) ASIC Class Order [CO 05/1122];

                   (c)  ASIC Class Order [CO 08/01];

(d) ASIC Class Order [CO 11/1227].

           (2)  The Division does not have effect subject to the condition that the person complies with the conditions set out in the exemption which applies to the person.