Commonwealth legislation

ASIC Class Order [CO 02/641]

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

ASIC is using its Corporations Act powers to exempt certain securities and interests in managed investment schemes from the usual disclosure document requirements and to permit unsolicited "hawking" for some scheme interests that aren’t classified as Chapter 7 managed investment products.

This affects banks, fund managers and investors by removing standard disclosure and anti‑hawking protections for those specific products, enabling faster, less regulated sales.

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Current sections

Direct links to the current provisions in ASIC Class Order [CO 02/641].

ASIC Class Order [CO 02/641]

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Australian Securities and Investments Commission Corporations Act 2001 – Paragraph 992B(1)(b) – Exemption

Under paragraph 992B(1)(b) of the Corporations Act 2001 (the “Act”) the Australian Securities and Investments Commission hereby exempts:

1. securities, and interests in managed investment schemes, from subsection 992A(3) of the Act; and

2. interests in managed investment schemes that are not managed investment products from subsection 992A(1) of the Act.

Interpretation

In this instrument “securities” has the same meaning as it has in Chapter 7 (other than Part 7.11) of the Act.

Dated this 31st day of May 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.