Australian Securities and Investments Commission
Corporations Act 2001 — Paragraph 1020F(1)(c) — Variation
 
Enabling legislation
1.       The Australian Securities and Investments Commission makes this instrument under paragraph 1020F(1)(c) of the Corporations Act 2001.
 
Title
 
2.       This instrument is ASIC Class Order [CO 11/617].
 
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/.
 
Variation
 
4.       ASIC Class Order [CO 11/576] is varied as follows:
 
(a)     in subparagraph 4(a), omit notional subregulation 4(2), substitute:
 
“(2)   This subregulation applies in relation to a financial product from the earlier of:
 
(a)     the first occasion after 21 June 2011, a Product Disclosure Statement is given which:
 
(i)      covers the product; and
 
(ii)     contains a statement to the effect that it is prepared in accordance with Subdivision 4.2B or 4.2C of Division 4 of Part 7.9 of the Corporations Regulations 2001 (as applicable); or
 
(b)     ASIC being given after 21 June 2011 a statement which is:
 
(i)      to the effect that a Product Disclosure Statement covering the product has been prepared in accordance with Subdivision 4.2B or 4.2C of Division 4 of Part 7.9 of the Corporations Regulations 2001 (as applicable); and
 
(ii)     made by or on behalf of the responsible person (within the meaning of subsection 1013A(3) of the Corporations Act 2001) for the Statement; and
 
(iii)    in written or electronic form.”;
 
(b)     omit subparagraph 4(b), substitute:
 
“(b)   in item [17] of Schedule 1:
 
(i)      after subitem 2(4) of Schedule 10D insert:
 
“(4A) The Product Disclosure Statement may also advise the person reading the Statement that it is prepared in accordance with Subdivision 4.2B of Division 4 of Part 7.9 of the Corporations Regulations 2001.”; and
 
(ii)     after subitem 2(3) of Schedule 10E insert:
 
“(3A) The Product Disclosure Statement may also advise the person reading the Statement that it is prepared in accordance with Subdivision 4.2C of Division 4 of Part 7.9 of the Corporations Regulations 2001.””.
 
 
Dated this 24th day of June 2011
 
 
 
 
Signed by Stephen Yen PSM
as a delegate of the Australian Securities and Investments Commission