ASIC Corporations (Serviced Apartment and Like Schemes) Instrument 2016/869 (Cth)

ASIC Corporations (Serviced Apartment and Like Schemes) Instrument 2016/869

About this compilation

Compilation No. 2

This is a compilation of ASIC Corporations (Serviced Apartment and Like Schemes) Instrument 2016/869 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 for management rights schemes 5 Exemption for operators from requirement to register the scheme, hold a financial services licence and the share hawking provisions 6 General conditions on operators other than promoter developers 7 Breach reporting condition for operators other than promoter developers 8 Exemption for a real estate (selling) agent from the requirement to hold an Australian financial services licence 9 Exemption for other persons from the prohibition on hawking 10 Procedures for transferring management rights Part 3—Relief for registered schemes 11 Valuation of property of registered serviced apartment schemes 12 Consequential modification of compliance plan requirements Part 4—Relief for strata schemes 13 Strata scheme where all strata units acquired for at least $500,000 Part 5—Transitional 14 Schemes covered by ASIC Class Orders [CO 02/245], [CO 02/303] and [CO 02/304] 15 Schemes covered by ASIC Class Order [CO 07/189] 16 Schemes covered by ASIC Pro Forma 186 Endnotes Endnote 1—Instrument history Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Serviced Apartment and Like Schemes) Instrument 2016/869.