Federal Register of Legislation
ASIC Class Order [CO 14/1262]
About this compilation
Compilation No. 8
This is a compilation of ASIC Class Order [CO 14/1262] as in force on 27 June 2024. 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.
Prepared by the Australian Securities and Investments Commission.
Australian Securities and Investments Commission Corporations Act 2001—Paragraphs 926A(2)(c), 951B(1)(c), 994L(2)(c) and 1020F(1)(c)— Declaration
Enabling legislation
1. The Australian Securities and Investments Commission makes this instrument under paragraphs 926A(2)(c), 951B(1)(c), 994L(2)(c) and 1020F(1)(c) of the Corporations Act 2001 (the Act).
Title
2. This instrument is ASIC Class Order [CO 14/1262].
Declaration
4. Parts 7.6 (other than Divisions 4 and 8), 7.7, 7.8A and 7.9 of the Act apply in relation to an affected term deposit as if the definition of basic deposit product in section 9 of the Act were modified or varied as follows:
(a) omit paragraph (c), substitute:
"(c) both of the following are satisfied:
(i) there is a minimum period before which funds cannot be withdrawn or transferred from the facility without a reduction in the return generated for the depositor;
(ii) that period expires on or before the end of the period of 5 years starting on the day on which funds were first deposited in the facility; and";
(b) omit paragraph (d), substitute:
"(d) funds are able to be withdrawn or transferred from the facility on the instruction of, or by authority of, the depositor:
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