ASIC Class Order [CO 13/523]

Link to law: https://www.comlaw.gov.au/Details/F2013L01097

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now
 
 
Australian Securities and Investments Commission
Corporations Act 2001 – Subsections 655A(1) and 741(1) – Declaration
 
Enabling legislation
1.       The Australian Securities and Investments Commission makes this instrument under subsections 655A(1) and 741(1) of the Corporations Act 2001 (the Act).
Title
2.       This instrument is ASIC Class Order [CO 13/523].
Commencement
3.       This instrument commences on the day 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, section 4 (definition of register).  The FRLI may be accessed at http://www.frli.gov.au/.
Declaration
4.       Chapter 6 of the Act applies to all persons as if the following provisions were modified or varied:
(a)     after subsection 636(4) insert:
“Statements by official persons, or in books, journals etc
(4A)    Subsection (3) does not apply to a statement that:
(a)     fairly represents what purports to be a statement made by an official person; or
(b)     is a correct and fair copy of, or extract from, what purports to be a public official document; or
(c)     is a correct and fair copy of, or extract from, a statement which has already been published in a book, journal or comparable publication;
provided the statement was not made, or published, in connection with the takeover bid or the bidder or target or any business, property or person the subject of the bidder’s or target’s statement.”;
(b)     after subsection 638(6) insert:
“Statements by official persons, or in books, journals etc
(6A)    Subsection (5) does not apply to a statement that:
(a)     fairly represents what purports to be a statement made by an official person; or
(b)     is a correct and fair copy of, or extract from, what purports to be a public official document; or
(c)     is a correct and fair copy of, or extract from, a statement which has already been published in a book, journal or comparable publication;
provided the statement was not made, or published, in connection with the takeover bid or the bidder or target or any business property or person the subject of the bidder’s or target’s statement.”.
5.       Chapter 6D applies to all persons as if subsection 716 were modified or varied by, after subsection (2), inserting:
“Statements by official persons, or in books, journals etc
(3)     Subsection (2) does not apply to a statement that:
(a)     fairly represents what purports to be a statement made by an official person; or
(b)     is a correct and fair copy of, or extract from, what purports to be a public official document; or
(c)     is a correct and fair copy of, or extract from, a statement which has already been published in a book, journal or comparable publication;
provided the statement was not made in connection with any or all of the persons, their business, or the promotion the subject of the disclosure document or any property to be acquired by the body which is the subject of the disclosure document.”.
 
Dated this 17th  day of June 2013
 
Signed by Grant Moodie  
as a delegate of the Australian Securities and Investments Commission