1ASIC Corporations (Property Rental Schemes) Instrument 2016/870

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ASIC Corporations (Property Rental Schemes) Instrument 2016/870

About this compilation

Compilation No. 2

This is a compilation of ASIC Corporations (Property Rental Schemes) Instrument 2016/870 as in force on 5 October 2021. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information

about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary

1 Name of legislative instrument

3 Authority

4 Definitions

Part 2—Exemptions

5 Relief from scheme registration under Chapter 5C

6 Relief from licensing requirement

7 Relief from hawking prohibition

8 Relief from disclosure provisions

Endnotes

Endnote 1—Instrument history

Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Property Rental Schemes) Instrument 2016/870.

3 Authority

This instrument is made under subsections 601QA(1), 926A(2), 992B(1) and 1020F(1) of the Corporations Act 2001.

4 Definitions

In this instrument:

Act means the Corporations Act 2001.

property rental scheme means a managed investment scheme to which all of the following apply:

(a) the scheme involves owners of interests in real property making their interests available for commercial or residential letting or rental purposes (including day to day management of any lease arrangement);

(b) the owners have not acquired their interests in real property jointly as a result of participating in the scheme;

(c) the scheme does not involve a serviced apartment, hotel, motel or resort complex.

real estate agent means a person who is licensed to manage real property under the law of a State or Territory in this jurisdiction.