ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681 (Cth)

ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681 I, Amanda Zeller, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 22 September 2023

Amanda Zeller

Contents

Part 1—Preliminary 1 Name of legislative instrument 2 Commencement 3 Authority 4 Definitions Part 2—Declaration 5 Removal of responsible entity Part 3—Repeal 6 Repeal

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.

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 601QA(1) of the Corporations Act 2001.

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

Part 2—Declaration

5 Removal of responsible entity Chapter 5C of the Act applies to all persons as if section 601FM were modified or varied by, after subsection (1), inserting: "(1A) Without limiting the generality of subsection (1), in the case of a registered scheme that is listed: (a) the responsible entity must call and arrange to hold a meeting of the members to consider and vote on proposed resolutions to remove the responsible entity and choose a new responsible entity on the request of: (i) members with at least 5% of the votes that may be cast on the resolution; or (ii) at least 100 members who are entitled to vote on the resolution; and (b) members who hold interests carrying at least 5% of the votes that may be cast at a meeting of the members may call and arrange to hold a meeting of the members to consider and vote on proposed resolutions to remove the responsible entity and choose a new responsible entity; and (c) the Court may order a meeting of the members to be called to consider and vote on proposed resolutions to remove the responsible entity and choose a new responsible entity if it is impracticable to call the meeting in any other way.".