Commonwealth legislation

ASIC Class Order [CO 03/911]

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 rule lets companies provide general (non-personalised) financial information about their own securities in offering documents to wholesale clients without holding an Australian Financial Services Licence. It affects issuers and institutional or sophisticated investors, easing routine fundraising and disclosure by removing the licensing burden for standard promotional material targeted at wholesale audiences.

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 03/911].

Australian Securities and Investments Co

Australian Securities and Investments Commission

Corporations Act 2001 – Paragraph 911A(2)(l) – Exemption

Under paragraph 911A(2)(l) of the Corporations Act 2001 ("the Act") the Australian Securities and Investments Commission exempts an entity to which subsection 766C(4) of the Act applies from the requirement to hold an Australian financial services licence for the provision to wholesale clients of general advice that relates to securities, debentures, stocks or bonds of that entity and is contained in a document offering those securities, debentures, stocks or bonds for issue.

Interpretation

In this instrument:

"general advice" has the meaning given by subsection 766B(4) of the Act;

"offer" has a meaning affected by subsection 1010C(2) of the Act; and

"wholesale client" has the meaning given by subsection 761G(4) of the Act.

Commencement

This instrument takes effect on gazettal.

Dated this 30th day of October 2003

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.

Australian Securities and Investments Co Australian Securities and Investments Commission