Commonwealth legislation

ASIC Class Order [CO 08/781]

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 warrant issuers delay immediate ASIC defect notifications when multiple warrant PDSs are bundled into a single document by the same issuer. Instead of notifying ASIC for each defective PDS as discovered, the issuer may wait until the entire bundled set is no longer offered or recommended. It reduces duplicate filings when withdrawing related warrant products.

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Current sections

Direct links to the current provisions in ASIC Class Order [CO 08/781].

Exemption

This exemption applies where:

(a) a document has set out in it 2 or more Product Disclosure Statements or Supplementary Product Disclosure Statements for warrants; and

(b) the responsible person for each Statement is the same.

The responsible person for the Statements does not have to comply with subsection 1015D(2) of the Act in relation to any of the Statements for the event referred to in paragraph 1015D(2)(c) until all the warrants to which the Statements relate cease to be available to be recommended or offered to new clients in a recommendation, issue or sale situation.

Interpretation

In this instrument:

document includes, in relation to a Product Disclosure Statement, 2 or more separate documents given at the same time which make up the Statement in accordance with section 1013L of the Act.

issue situation has the meaning given by subsection 1012B(2) of the Act.

recommendation situation has the meaning given by subsection 1012A(2) of the Act.

responsible person has the same meaning as in Division 2 of Part 7.9 of the Act (see subsection 1013A(3)).

sale situation has the meaning given by subsection 1012C(2) of the Act.

warrant has the meaning given by subregulation 1.0.02(1) of the Corporations Regulations 2001.

Dated this 28th day of October 2008

Signed by Stephen Yen, PSM
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.

Exemption Exemption