ASIC CLASS ORDER [CO 12/766]
EXPLANATORY STATEMENT
Prepared by the Australian Securities and Investments Commission
Corporations Act 2001
The Australian Securities and Investments Commission (ASIC) makes ASIC Class Order [CO 12/766] under subsection 352(1) of the Corporations Act 2001 (the Act). Subsection 352(1) of the Act provides that ASIC may agree or approve electronic lodgment of documents with ASIC.
1. Background
ASIC Class Order [CO 00/2451] approves the electronic lodgment with ASX, as agent of ASIC, of financial reports and directors’ reports of bodies listed on the financial market operated by ASX Limited (ASX). The relief applies where the bodies give the relevant document in electronic form in accordance with ASX’s electronic lodgment facility known as ASX Online.
On 12 June 2012, ASIC made amendments to a series of ASIC class orders, including Class Order [CO 00/2451], to reflect the upgrade in June 2012 of ASX Online and the re-publication of ASX Guidance Note 20: “ASX Online”. These amendments were made by Class Order [CO 12/722] and are explained in the Explanatory Statement accompanying that class order.
2. Purpose of the class order
The purpose of this amending class order is to make further minor and technical amendments to Class Order [CO 00/2451] that were inadvertently missed during the process of making Class Order [CO 12/722].
3. Operation of the class order
This amending class order removes some further technical details of the procedure, terms and conditions for lodging documents in accordance with ASX’s electronic lodgment facility.
4. Statement of Compatibility with Human Rights
This statement is prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.
This class order is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011 because it does not engage any of the applicable rights or freedoms.
5. Consultation
ASIC consulted with ASX before making Class Order [CO 12/722]. As this amending class order makes further amendments that Class Order [CO 12/722] inadvertently failed to make, further consultation with ASX is not considered necessary.