ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849 (Cth)

ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849

About this compilation

Compilation No. 2

This is a compilation of ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849 as in force on 1 September 2023. 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—Exemption 5 Licensing relief for eligible trustees 6 Where the relief applies 7 Conditions 8 Exclusion from reliance Part 3—Transitional 9 ASIC Class Order [CO 07/74] Endnotes Endnote 1—Instrument history Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849.

3 Authority This instrument is made under paragraph 926A(2)(a) of the Act.

4 Definitions In this instrument: Act means the Corporations Act 2001. eligible trustee means, in relation to a wholesale equity scheme, a trustee of the scheme that is a body corporate that does not control any entity which is an issuer of an investment product held by the body corporate. Note: "control" is defined in section 50AA of the Act. exempt liability means, in relation to a wholesale equity scheme, a liability arising from any act or omission relating to a wholesale equity financial service for which the trustee of the scheme may be indemnified from the trust property. incidental property, in relation to a wholesale equity scheme, means cash, deposits or current accounts with an Australian ADI or interests in a cash management trust that are held for no more than three months pending the acquisition of investment products, or expenditure or distribution to members. investment product means each of the following: (a) a security; (b) an option to acquire, by way of transfer, a security covered by paragraph (a), (b) or (c) of the definition of security in section 761A of the Act; (c) a managed investment product; (ca) a foreign passport fund product; (cb) an option to acquire, by way of transfer, a financial product covered by subparagraph 764A(1)(bb)(i) or (ii);