Commonwealth legislation

ASIC Class Order [CO 00/0184]

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

3/10 complexity

This order lets Australian managed funds (registered schemes) accept investments from New Zealand investors without the usual Australian application form, provided the offer is made in New Zealand and is based on NZ disclosure (an NZ investment statement). It applies to responsible entities who must reasonably believe NZ law governs the offer and must not issue any documents in New Zealand that breach NZ securities laws. It streamlines cross‑border fundraising while preserving NZ disclosure protections.

JSON API

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in ASIC Class Order [CO 00/0184].

ASIC Class Order [CO 00/0184]

Australian Securities and Investments Commission
Corporations Law — Subsection 741(1) — Exemption

Pursuant to subsection 741(1) of the Corporations Law (“the Law”), the Australian Securities and Investments Commission hereby exempts each responsible entity of a registered scheme from subsection 723(1) of the Law in the case specified in Schedule A on the condition specified in Schedule B.

SCHEDULE A

The issue or transfer of interests in the scheme to applicants otherwise than in response to an application form where the responsible entity reasonably believes the application relates to :

(a) an investment statement as defined in the Securities Act (NZ) 1978 and the Securities Regulations (NZ) 1983 as modified or varied by the Securities Act (Australian Unit Trusts) Exemption Notice 1997 (or such other exemption notice that from time to time may replace, modify or vary that Notice) (“NZ securities provisions”); and

(b) an offer or invitation made in New Zealand.

SCHEDULE B

This exemption applies for so long as and on condition that the responsible entity does not issue or permit the issue of a notice or other document in New Zealand relating to the interests if it does not comply with the NZ securities provisions.

Dated the 13th day of February 2000

Signed by Brendan Byrne
as delegate of the Australian Securities and Investments Commission

Source text

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

1 ASIC Class Order [CO 00/0184]