Commonwealth legislation

ASIC Class Order [CO 14/978]

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 creates a legal exemption allowing certain financial offers to proceed without a disclosure document. It principally affects companies running employee share schemes or workplace incentive programs covered by ASIC’s earlier instruments (CO 14/1000 and CO 14/1001) by inserting an exemption into section 708(5) to recognise ASIC exemption instruments made under section 741 of the Corporations Act.

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Current sections

Direct links to the current provisions in ASIC Class Order [CO 14/978].

ASIC Class Order [CO 14/978]

Australian Securities and Investments Commission

Corporations Act 2001 – Subsection 741(1) - Declaration

Enabling legislation

The Australian Securities and Investments Commission (ASIC) makes this instrument under subsections 741(1) of the Corporations Act 2001 (the Act).

Title

This instrument is ASIC Class Order [CO 14/978].

Commencement

This instrument commences on the day it is registered under the Legislative Instruments Act 2003.

Note: An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, section 4 (definition of register). The FRLI may be accessed at http://www.frli.gov.au/.

Declaration

Chapter 6D of the Act applies to all persons as if subsection 708(5) were modified or varied by, after paragraph (a), inserting:

“(aa) do not need a disclosure document because of an instrument made under section 741; or”.

Where this instrument applies

This instrument applies in relation to an arrangement covered by:

(a) ASIC Class Order [CO 14/1000]; or

(b) ASIC Class Order [CO 14/1001].

Dated this 27th day of October 2014

Signed by Grant Moodie
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 14/978]