ASIC Corporations (Mortgage Investment Schemes) Instrument 2017/857 (Cth)

ASIC Corporations (Mortgage Investment Schemes) Instrument 2017/857

About this compilation

Compilation No. 1

This is a compilation of ASIC Corporations (Mortgage Investment Schemes) Instrument 2017/857 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 Mortgage investment schemes with no more than 20 investors 6 Registering a scheme in relation to individual mortgage loans 7 Small industry-supervised mortgage investment schemes Part 3—Declaration 8 Withdrawal rights for registered mortgage investment schemes Endnotes Endnote 1—Instrument history Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Mortgage Investment Schemes) Instrument 2017/857.

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. mortgage investment scheme means a managed investment scheme that has, or is likely to have, at least 50% of non-cash assets invested in mortgage loans, and 100% of assets invested in mortgage loans or in an account with an Australian ADI. mortgage loan means a loan secured by a mortgage over real property.

Part 2—Exemptions

5 Mortgage investment schemes with no more than 20 investors

Registration relief (1) An operator of a mortgage investment scheme does not have to comply with subsection 601ED(5) of the Act in relation to the operation of the scheme.