Commonwealth legislation

ASIC Class Rule Waiver [CW 12/233]

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

1/10 complexity

What this does

This instrument extends a previous class rule waiver by removing its expiry date, making the exemption ongoing rather than temporary.

The details

ASIC previously granted a class waiver (CW 11/1103) that only applied for a specific period—between 31 October 2011 and 1 March 2012. This document varies that earlier decision by deleting the time restriction from paragraph 5.

Why it matters

Class waivers allow multiple financial market participants to be exempt from certain regulatory requirements without each entity needing to apply individually. By removing the end date, ASIC ensures that eligible parties can continue relying on the exemption beyond the original deadline.

Who it affects

Financial market operators and participants who were covered by the original class waiver.

Legal basis

Made under Rule 1.2.1(1) of the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011, which gives ASIC power to waive compliance with specific market integrity rules.

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Current sections

Direct links to the current provisions in ASIC Class Rule Waiver [CW 12/233].

ASIC Class Rule Waiver [CW 12/233]

Australian Securities and Investments Commission
ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 – Rule 1.2.1(1) – Class Rule Waiver - Variation

Enabling legislation

The Australian Securities and Investments Commission makes this instrument under Rule 1.2.1(1) of the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011.

Title

This instrument is ASIC Class Rule Waiver [CW 12/233].

3 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, s 4 (definition of register). The FRLI may be accessed at http://www.frli.gov.au/.

Variation

ASIC Class Rule Waiver [CW 11/1103] is varied by, in paragraph 5, omitting “during the period from 31 October 2011 to 1 March 2012 (inclusive),”.

Dated this 28th day of February 2012

Signed by Mark Adams

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 Rule Waiver [CW 12/233]