Australian Securities and Investments Commission
Corporations Act 2001 — Paragraph 911A(2)(l) — Exemption
Pursuant to paragraph 911A(2)(l) of the Corporations Act 2001 (the "Act") the Australian Securities and Investments Commission hereby specifies that until 11 March 2004 the provision of a financial service is covered by an exemption from the requirement to hold an Australian financial services licence if that financial service is provided in the following circumstances:
(i) a person (person 1) is a person that is not in this jurisdiction;
(ii) person 1 arranges, on behalf of another person (person 2), for the holder of a dealers licence within the meaning of the old Corporations Act or the holder of a futures brokers licence within the meaning of the old Corporations Act (person 3) to deal in a financial product that such licence (as in force immediately before the FSR commencement) authorised person 3 to deal in;
(iii) the dealing by person 3 is within the scope of their regulated activities and occurs within their transition period;
(iv) person 1 believes on reasonable grounds that person 2 is not in this jurisdiction.
Interpretation
In this instrument:
1. "FSR commencement" and "old Corporations Act" have the same meanings as in subsection 1410(1) of the Act; and
2. "regulated activities" has the same meaning as in section 1430 of the Act; and
3. "transition period" has the same meaning as in subsection 1431(1) of the Act.
Note: In this instrument "this jurisdiction" is intended to mean Australia: see the Act at section 5 and section 9 (definition of "this jurisdiction").
Dated the 17th day of July 2002
Signed by Brendan Byrne
as a delegate of the Australian Securities and Investments Commission