ASIC Corporations (Offers over the internet) Instrument 2017/181 (Cth)

ASIC Corporations (Offers over the internet) Instrument 2017/181 I, Stephen Yen PSM, delegate of the Australian Securities and Investments Commission, make the following legislative instrument. Date: 1 March 2017

Stephen Yen

Contents

Part 1—Preliminary 1 Name of legislative instrument 2 Commencement 3 Authority 4 Definitions Part 2—Exemptions 5 Exemption from obligations relating to Product Disclosure Statements and advertising of financial products

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Offers over the internet) Instrument 2017/181.

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 subsection 1020F(1) of the Corporations Act 2001.

4 Definitions In this instrument: Act means the Corporations Act 2001. offer includes an invitation to make an offer.

Part 2—Exemptions

5 Exemption from obligations relating to Product Disclosure Statements and advertising of financial products (1) A person does not have to comply with Divisions 2 or 4 of Part 7.9 of the Act when making an offer of financial products to people outside of this jurisdiction on or through the internet in such a way that the offer is available to, or received by, people in this jurisdiction. (2) The exemption applies where all of the following apply: (a) the receipt of the offer in this jurisdiction is merely incidental to the making of the offer outside this jurisdiction; (b) the person takes reasonable steps to ensure that people in this jurisdiction are excluded from accepting the offer; (c) the offer is not made in this jurisdiction by any other means, unless the ASIC Corporations (Foreign Securities—Incidental Advertising) Instrument 2015/360 applies to the making of the offer.