Document ID: chunk:federal_register_of_legislation:F2023L01223:body:0:p1
Version: federal_register_of_legislation:F2023L01223
Segment Type: other
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Character Range: 0–2863

ASIC Corporations (Equality of Treatment Impacting on the Acquisition of Scheme Interests and CCIV Shares) Instrument 2023/697
I, Leah Sciacca, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 8 September 2023

Leah Sciacca

Contents

Part 1—Preliminary
1 Name of legislative instrument
2 Commencement
3 Authority
4 Definitions
Part 2—Exemption
5 Equal treatment relief—responsible entity of a registered scheme
6 Equal treatment relief—corporate director of a retail CCIV
7 Equal treatment relief—corporate director of a wholesale CCIV
8 Acquiring forfeited interests
Part 3—Repeal
9 Repeal

Part 1—Preliminary

1 Name of legislative instrument
This is the ASIC Corporations (Equality of Treatment Impacting on the Acquisition of Scheme Interests and CCIV Shares) Instrument 2023/697.

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 subsections 601QA(1) and 1243(2) of the Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.
ASX Limited means ASX Limited ACN 008 624 691.
offer in relation to an issue of interests, includes inviting an application for the issue of interests.
wholesale client has the meaning given by section 761G of the Act.

       Part 2—Exemption

5 Equal treatment relief—responsible entity of a registered scheme
A responsible entity of a registered scheme does not have to comply with paragraph 601FC(1)(d) of the Act to the extent that it would prevent the responsible entity from doing any or all of the following:
(a) not making an offer of interests to a member (a non-resident) with a registered address outside Australia and New Zealand and, in the case of an Australian passport fund, each host economy of the fund, if the responsible entity:
(i) where the scheme is included in the official list of the financial market operated by ASX Limited and the offer is one to which Rule 7.7 (Issues to Australian and New Zealand holders and overseas holders) of the listing rules of ASX Limited as at 1 December 2019 applies—complies with the requirements of that rule that are applicable to the relevant offer and issue of interests; or
(ii) where the scheme is not included in the official list of the financial market operated by ASX Limited and the offer is renounceable—appoints a nominee to sell the rights to acquire the interests that are not offered to the non-residents and distribute to each non-resident their proportion of the proceeds of sale net of expenses; or
(ii) in any other case—determines that it would be unreasonable to make the offer to the non-resident having regard to each of the following:
(A) the number of members in