Commonwealth legislation

ASIC Corporations (Repeal) Instrument 2016/909

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

Regulatory housekeeping: ASIC is binning two old exemptions.

This instrument is a clean-up job by the corporate regulator. It cancels two entire Class Orders—regulatory exemptions issued back in 2000 and 2002:

CO 00/2449 (the whole instrument)
CO 02/1296 (the whole instrument)

What’s a Class Order? Think of it as an official ‘get out of jail free’ card that lets companies bypass certain rules in the Corporations Act. When ASIC repeals one, that exemption disappears.

Who’s affected? Only businesses that were specifically relying on these two exemptions. If that’s you, you’ll need to start following the standard Corporations Act rules instead. For everyone else, this is just background tidying with no practical impact.

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Current sections

Direct links to the current provisions in ASIC Corporations (Repeal) Instrument 2016/909.

ASIC Corporations (Repeal) Instrument 2016/909

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8 title: ASIC Template (Amending or Repealing Legislative Instruments - April 2016)

Commonwealth Coat of Arms and ASIC logo

ASIC Corporations (Repeal) Instrument 2016/909

I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 19 September 2016

Grant Moodie

Contents

Part 1—Preliminary

1 Name of legislative instrument

ASIC Class Order [CO 00/2449]

ASIC Class Order [CO 02/1296]

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Repeal) Instrument 2016/909.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under subsections 341(1), 655A(1), 669(1), 673(1) and 1020F(1) of the Corporations Act 2001.

4 Schedules

Each instrument that is specified in the Schedule to this instrument is repealed as set out in the applicable items in the Schedule.

Schedule 1—Repeals

ASIC Class Order [CO 00/2449]

1 The whole of the instrument

Repeal the instrument.

ASIC Class Order [CO 02/1296]

2 The whole of the instrument

Repeal the instrument.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8 title: ASIC Template (Amending or Repealing Legislative Instruments - April 2016)

ASIC Corporations (Repeal) Instrument 2016/909

I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 19 September 2016

Grant Moodie

Contents

Part 1—Preliminary

1 Name of legislative instrument

ASIC Class Order [CO 00/2449]

ASIC Class Order [CO 02/1296]

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Repeal) Instrument 2016/909.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under subsections 341(1), 655A(1), 669(1), 673(1) and 1020F(1) of the Corporations Act 2001.