Commonwealth legislation

ASIC Class Order [CO 02/0138]

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 lets listed companies (eg. ASX entities) and their officers make required market announcements about subsidiary capital raisings or financial product offers without breaching strict advertising bans — but only if the announcement contains nothing beyond what the stock exchange rules or law require. It lets issuers meet disclosure duties without accidentally creating unlawful marketing.

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Current sections

Direct links to the current provisions in ASIC Class Order [CO 02/0138].

ASIC Class Order [CO 02/0138]

Australian Securities and Investments Commission
Corporations Act 2001— Paragraph 1020F(1)(a) — Exemption

Under paragraph 1020F(1)(a) of the Corporations Act 2001 (the “Act”), the Australian Securities and Investments Commission hereby exempts each person in the class of persons mentioned in Schedule A in the case mentioned in Schedule B from subsections 1018A(1) and (2) of the Act.

SCHEDULE A

Listed bodies and their officers.

SCHEDULE B

The publication of a statement that:

(a) relates to an offer or intended offer of financial products the issuer of which is a subsidiary or proposed subsidiary of the listed body;

(b) consists of a notice or report by the listed body, or one of its officers, about its affairs to the relevant market operator; and

(c) contains material which is required by law or by the operating rules of the relevant financial market to be contained in the statement and nothing more.

Commencement

This exemption takes effect on the commencement of Schedule 1 to the Financial Services Reform Act 2001.

Dated the 5th day of February 2002

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.

1 ASIC Class Order [CO 02/0138]