ASIC Corporations (Licence Conditions—Treatment of Lease Assets) Instrument 2021/229 (Cth)

ASIC Corporations (Licence Conditions—Treatment of Lease Assets) Instrument 2021/229 I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 26 April 2021

Grant Moodie

Contents

Part 1—Preliminary 1 Name of legislative instrument 2 Commencement 3 Authority 4 Definitions Part 2—Declaration 5 "Excluded assets" in conditions of Australian financial services licences Part 3—Repeal 6 Repeal

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Licence Conditions—Treatment of Lease Assets) Instrument 2021/229.

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 926A(2) of the Corporations Act 2001.

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

Part 2—Declaration

5 "Excluded assets" in conditions of Australian financial services licences Division 3 of Part 7.6 of the Act applies to all financial services licensees as if section 912A of the Act were modified or varied by inserting after subsection (4), the following subsection: "(4A) For the purposes of paragraph 912A(1)(b), despite anything to the contrary in a condition of the licence (including in a definition in the licence that applies for the purposes of a condition), a right-of-use asset arising under a lease is taken not to be included in the definition of "excluded assets" in the licence.".

Part 3—Repeal

6 Repeal This instrument is repealed on 1 May 2026.