Commonwealth legislation

ASIC Class Order [CO 98/50]

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 responsible entities of registered managed investment schemes incorporate external documents into compliance plans on an ongoing basis ("from time to time") instead of only as fixed versions, so updates need not trigger formal amendments.

In return, responsible entities must undertake in writing to review the compliance plan whenever any incorporated document is amended — reducing administrative burden while ensuring material changes prompt a suitability check that protects investors.

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Current sections

Direct links to the current provisions in ASIC Class Order [CO 98/50].

ASIC Class Order [CO 98/50]

Australian Securities and Investments Commission

Corporations Law Paragraph 601QA(1)(b) Declaration

Pursuant to paragraph 601QA(1)(b) of the Corporations Law ("the Law") the Australian Securities and Investments Commission hereby declares that Chapter 5C of the Law applies to a responsible entity of a registered scheme in the case specified in the schedule as if

(a) in subsection 601HB(1) of the Law the words, "or from time to time"; and

(b) in subsection 601HB(2) of the Law the words, "or from time to time as the case may be"

were added after the words "specified time".

Schedule

The compliance plan for the registered scheme (excluding any part incorporated by reference under section 601HB) contains a statement to the effect that the responsible entity will review the appropriateness of the compliance plan when any amendment is made to a part of a compliance plan that is incorporated by reference in it.

Dated 13th day of July 1998

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 98/50]