Commonwealth legislation

ASIC Class Order [CO 00/0169]

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

This Class Order removes the mandatory 7‑day waiting period for supplementary or replacement disclosure documents updating an already‑lodged prospectus, letting issuers accept applications and issue securities immediately. It affects companies lodging updates and the investors/underwriters who rely on those updated documents. The relief is narrow: it applies only to the update (not the original prospectus) and only suspends the subsection 727(3) waiting rule; all other disclosure requirements remain.

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Current sections

Direct links to the current provisions in ASIC Class Order [CO 00/0169].

Corporations Law — Subsection 741(1) — E

Corporations Law — Subsection 741(1) — Exemption

Pursuant to subsection 741(1) of the Corporations Law ("the Law"), and for the avoidance of doubt, the Australian Securities and Investments Commission hereby exempts each person who lodges a supplementary or replacement document under section 719 of the Law (“the updating document”) from subsection 727(3) of the Law to the extent that it would otherwise prohibit the person from accepting an application for, or issuing or transferring, securities offered under the updating document until the period of 7 days after lodgment of the updating document has ended.

This exemption applies only to the operation of subsection 727(3) with respect to the updating document, and does not affect its operation with respect to the disclosure document which is supplemented or replaced by the updating document.

Dated the 13th day of February 2000

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

Corporations Law — Subsection 741(1) — E Corporations Law — Subsection 741(1) — Exemption

Corporations Law — Subsection 741(1) — Exemption

Dated the 13th day of February 2000

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission