ASIC Corporations (ASX-listed Schemes On-market Buy-backs) Instrument 2016/1159 (Cth)

ASIC Corporations (ASX-listed Schemes On-market Buy-backs) Instrument 2016/1159 I, Stephen Yen PSM, delegate of the Australian Securities and Investments Commission, make the following legislative instrument. Date: 9 December 2016

Stephen Yen

Contents

Part 1—Preliminary 1 Name of legislative instrument 2 Commencement 3 Authority 4 Definitions Part 2—Declaration 5 Requirements for on-market buy-backs 6 Takeovers

Part 1—Preliminary

1 Name of legislative instrument This instrument is ASIC Corporations (ASX-listed Schemes On-market Buy-backs) Instrument 2016/1159.

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 601QA(1) and 655A(1) of the Corporations Act 2001.

4 Definitions In this instrument: Act means the Corporations Act 2001.

Part 2—Declaration

5 Requirements for on-market buy-backs Chapter 5C of the Act applies to a responsible entity as if Part 5C were modified or varied by, after Part 5C.6, inserting:

"Part 5C.6A—On-market buy-backs by listed schemes

Division 1—Preliminary

601KF Application of this Part This Part applies to the purchase of interests in a listed managed investment scheme by the responsible entity of the scheme where the purchase takes place in the ordinary course of trading on the financial market of ASX Limited (ASX) and the purchase price is paid from scheme property. For the purposes of this Part, such a purchase is referred to as a buy-back.

Division 2—Requirements for buy-backs

601KG Constitutional provisions about buy-backs If the responsible entity of the scheme is to have the power to buy back an interest in the scheme, the power must be specified in the scheme's constitution.