Australian Securities and Investments Commission
Corporations Act 2001 — Subsection 341(1) — Amendment
Enabling legislation
1.         The Australian Securities and Investments Commission makes this instrument under subsection 341(1) of the Corporations Act 2001 (the Act).
Title
2.         This instrument is ASIC Class Order [CO 13/1644].
Commencement
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/.
 
Amendment
 
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