ASIC Corporations (Amendment) Instrument 2022/0077 (Cth)

ASIC Corporations (Amendment) Instrument 2022/0077 I, Kate Metz, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 28 March 2022

Kate Metz

Contents

Part 1—Preliminary 1 Name of legislative instrument 2 Commencement 3 Authority 4 Schedules 5 Repeal of amending instruments Schedule 1—Amendments ASIC Corporations (Repeal and Transitional) Instrument 2017/186

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Amendment) Instrument 2022/0077.

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 paragraphs 283GA(1)(a), 741(1)(a), 992B(1)(a) and 1020F(1)(a) of the Corporations Act 2001.

4 Schedules Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

5 Repeal of amending instruments (1) The repeal of an instrument by section 4 does not affect any amendment to or repeal of another instrument (however described) made by the instrument. (2) Subsection (1) does not limit the effect of section 7 of the Acts Interpretation Act 1901 as it applies to the repeal of an instrument by section 4 of this instrument.

Schedule 1—Amendments

ASIC Corporations (Repeal and Transitional) Instrument 2017/186

1 Item 1, Schedule 2

Repeal the item, substitute: 1 Transitional relief (1) An exemption specified in ASIC Class Order [CO 02/273] as in force immediately before its repeal, continues to apply by force of this item, in the circumstances specified in item 2 and in the circumstances and on the conditions specified in relation to the exemption. (2) Subitem 1(1) has effect until 1 October 2022. 2 Where exemption applies (1) From 1 April 2022, an exemption specified in subitem 1(1) applies to a person who was relying on an exemption specified in subitem 1(1) on 31 March 2022: (a) until 2 May 2022; and (b) after 2 May 2022, if the person has given ASIC a notice that complies with item 3 by 2 May 2022. (2) From 1 April 2022, an exemption specified in subitem 1(1) applies to a person who was not relying on an exemption specified in subitem 1(1) on 31 March 2022: (a) who has given ASIC a notice that complies with item 4; (b) from the date specified in the notice under subitem 4(c). 3 Continuing reliance notice A notice under sub-subitem 2(1)(b) must set out in writing all of the following: (a) the name of the person; (b) each exemption specified in subitem 1(1) relied on; (c) the date the person started to rely on the exemption.