Commonwealth legislation

ASIC Class Order [CO 98/106]

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

4/10 complexity

This Class Order exempts certain superannuation funds that are “disclosing entities” (regulated superannuation funds, approved deposit funds, pooled superannuation trusts) from the Corporations Law financial reporting requirements, allowing them to rely on the separate Superannuation Industry (Supervision) Act reporting framework instead.

It prevents duplicate reporting obligations and cancels a prior 1994 exemption, with the cancellation applying to financial years ending after 7 July 1998 for funds using a related ASIC exemption, or after 30 June 1998 for others.

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Current sections

Direct links to the current provisions in ASIC Class Order [CO 98/106].

ASIC Class Order [CO 98/106]

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION
SUBSECTIONS 111AT(1) AND 341(1) CORPORATIONS LAW
CLASS ORDER AND REVOCATION

PURSUANT to subsection 341(1) of the Corporations Law (the "Law") the AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION HEREBY MAKES AN ORDER relieving each disclosing entity which is a "regulated superannuation fund", or an "approved deposit fund" or a "pooled superannuation trust" within the meaning of the Superannuation Industry (Supervision) Act 1993 (Cth) from compliance with Parts 2M.2 and 2M.3 of the Law in relation to a financial year or half-year.

PURSUANT to subsection 111AT(1) of the Corporations Law the AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION HEREBY REVOKES
Exemption Number 94/1859 dated 13 December 1994 with effect from:

(i) in respect of entities which apply the relief provided by Class Order 98/0095 dated 10 July 1998, financial years ending after 7 July 1998; and

(ii) in all other cases, financial years ending after 30 June 1998.

Dated the 10th day of July 1998

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Signed by George Durbridge

as 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 98/106]