Australian Securities and Investments Commission
Corporations Act 2001 — Subsection 341(1) — Amendment
1. The Australian Securities and Investments Commission makes this instrument under subsection 341(1) of the Corporations Act 2001 (the Act).
2. This instrument is ASIC Class Order [CO 13/1644].
3. This instrument commences on the date it is registered under the Legislative Instruments Act 2003.
Note: An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register). The FRLI may be accessed at http://www.frli.gov.au/.
4. ASIC Class Order [CO 13/1050] is amended as follows:
(a) omit subparagraphs 4(a) and (b), substitute:
“(a) subsection 292(1) and subsection 314(1) of the Act in relation to a financial year (the relevant year); and
(b) section 302 of the Act in relation to a half-year (the relevant half-year),”;
(b) omit subparagraph 5(a), substitute:
“(a) one of the following applies:
(i) the relevant entity prepared a financial report under Chapter 2M of the Act for the previous reporting period that contained consolidated financial statements or combined financial statements that included the other group members;
(ii) since the time that the stapled group included the relevant entity and the other group members, the relevant entity has not prepared a financial report under Chapter 2M of the Act other than the relevant entity report;”;
(c) in subparagraph 5(b):
(i) omit “whichever was presented for the reporting period ended 31 December 2012”, substitute “whichever was presented for the previous reporting period if sub-subparagraph 5(a)(i) applies or consolidated financial statements if sub-subparagraph 5(a)(ii) applies”; and
(ii) omit “were included in the financial report for the reporting period ended 31 December 2012” (wherever occurring), substitute “are included”;
(d) in subparagraph (5)(d), omit “Act.”, substitute “Act;”;
(e) after subparagraph (5)(d), insert:
“(e) the relevant entity report discloses whether the financial statements presented in accordance with this instrument are consolidated financial statements or combined financial statements;
(f) the relevant entity report discloses the amounts attributed to non-controlling interests which are attributable to the holders of stapled securities.”;
(f) in paragraph 8, insert the following definitions in alphabetical order:
“non-controlling interest has the same meaning as in accounting standard AASB 10 Consolidated Financial Statements.
previous reporting period means:
(a) in relation to a relevant year, the half-year forming part of the relevant year; and
(b) in relation to a relevant half-year, the financial year ending immediately before the relevant half-year.
stapled security means a security of a stapled issuer which under the terms on which it is traded on a prescribed financial market, must be transferred together with a security of one or more other entities.”.
Dated this 20th day of December 2013
Signed by Stephen Yen PSM
as a delegate of the Australian Securities and Investments Commission