ASIC Class Order [CO 98/2159]

ASIC Class Order [CO 98/2159]

Removing approved deed provisions

This instrument has effect under paragraph 601QA(1)(b) of the Corporations Act 2001.

This compilation was prepared on 1 September 2005 taking into account amendments up to [CO 00/1067].

Prepared by the Australian Securities and Investments Commission.

Australian Securities and Investments Commission
Corporations Law — Paragraph 601QA(1)(b) — Revocation and Declaration

Pursuant to paragraph  601QA(l)(b) of the Corporations Law the Australian Securities and Investments Commission hereby revokes Class Order 98/1789 and declares that Division 11 of Part 11.2 of the Law applies to a body referred to in subsection  1460(1) of the Law (other than a person to which ASIC Class Order [00/4] or [00/1067] applies) as if paragraph  1460(3)(b) of the Law were replaced with the following paragraphs:

“(b) if the modification removes from the deed a provision that was included to satisfy:

(i) the requirements of Division 5 of Part 7.12 of the old Law or a previous law corresponding to that Division; or

(ii) any requirements of the NCSC or another person authorised to approve deeds under a previous law corresponding to that Division; or

(iii) the conditions of any instrument under subsection 1069(3) or 1084(2) of the old Law or under a previous law corresponding to those subsections; or

(c) if the modification is incidental to the modifications permitted by paragraphs (a) and (b); or

(d) if the body reasonably considers the modification is in the best interests of holders of the prescribed interests, is fair as between holders and will not adversely affect holders' rights”. 

Notes to ASIC Class Order [CO 98/2159]

Note 1

ASIC Class Order [CO 98/2159] (in force under paragraph 601QA(1)(b) of the Corporations Act 2001) as shown in this compilation comprises that Class Order amended as indicated in the Tables below.

Table of Instruments

Table of Amendments

ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted