Document ID: chunk:federal_register_of_legislation:F2016L01479:body:0:p1
Version: federal_register_of_legislation:F2016L01479
Segment Type: other
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ASIC Corporations (Transfers of Division 3 Securities) Instrument 2016/893
I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date  19 September 2016

Grant Moodie

Contents

Part 1—Preliminary
1 Name of legislative instrument
2 Commencement
3 Authority
4 Definitions
Part 2—Declaration
5 Quoted securities of a foreign company
6 Transfers of quoted securities of a foreign company
7 Transfers of options over unissued securities

Part 1—Preliminary

1 Name of legislative instrument
This is the ASIC Corporations (Transfer of Division 3 Securities) Instrument 2016/893.

2 Commencement
This instrument commences on the day after it is registered on the Federal Register of Legislation.
Note: The register may be accessed at www.legislation.gov.au.

3 Authority
This instrument is made under subsection 1073E(1) of the Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.
Division 3 rights has the meaning given by subregulation 1.0.02(1) of the Regulations.
Regulations means the Corporations Regulations 2001.

       Part 2—Declaration

5 Quoted securities of a foreign company
    Division 3 of Part 7.11 of the Act and regulations made for the purposes of section 1073D of the Act apply to shares in, or debentures of, a foreign company that are quoted on the financial market operated by ASX Limited.

6 Transfers of quoted securities of a foreign company

Regulations made for the purposes of section 1073D of the Act have effect in relation to the securities specified in section 5 as if the following provisions of the Regulations were modified:
(a) in regulation 7.11.01 insert the following definitions in the appropriate alphabetical order:
       "absolute beneficial owner, in relation to Division 3 securities, means one or more beneficiaries of a trust to which a Division 3 security is subject, who has or who together have a presently enforceable and unconditional right to require the trustee of the trust to transfer the Division 3 security to them.";
"securities lending arrangement means an arrangement under which:
           (a) one entity (the lender) agrees that it will:
              (i) deliver Division 3 securities to another entity (the borrower) or to an entity nominated by the borrower; and
              (ii) vest title in those Division 3 securities in the entity to which they are delivered; and
           (b) the borrower agrees that it will, after the lender does the things mentioned in subparagraph (i):
              (i) deliver the Division 3 securities (or equivalent securities) to the lender or to an entity nominated by the lender; and
              (ii) vest title in those Division 3 securities (or those equivalent securities) in the entity to which they are delivered.";
(b) after paragraph 7.11.17(4)(a) insert:
            "(ba) if a designated broker is given authority by or on behalf of the absolute beneficial owner of Division