Document ID: chunk:federal_register_of_legislation:F2021C01031:body:0:p1
Version: federal_register_of_legislation:F2021C01031
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Character Range: 0–2928

ASIC Corporations (Avia Syndicate) Instrument 2015/825

About this compilation

Compilation No. 1

This is a compilation of ASIC Corporations (Avia Syndicate) Instrument 2015/825 as in force on 5 October 2021. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information
about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary
1 Name of legislative instrument
3 Authority
4 Definitions
Part 2—Exemption
5 Exemptions in relation to Avia Syndicates
6 Conditions
7 Exemption for person acting on behalf of an Avia Entity
Endnotes
Endnote 1—Instrument history
Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument
This instrument is the ASIC Corporations (Avia Syndicate) Instrument 2015/825.

3 Authority
This instrument is made under paragraphs 601QA(1)(a), 741(1)(a) and 926A(2)(a) of the Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.
Avia means Avia Aviation Pty Ltd ACN 168 007 869.
Avia Airshares means Avia Airshares Pty Ltd ACN 143 407 434.
Avia Entity means each of Avia, Avia Airshares and the Avia Plane Owning Companies.
Avia Plane Owning Company means, in relation to an Avia Syndicate, the company that is the registered operator of the aircraft to which the Avia Syndicate relates and that is, or has been, a related body corporate of Avia and Avia Airshares.
Avia Syndicate means a managed investment scheme, each interest in which confers rights and entitlements on a holder of a share in an Avia Plane Owning Company to use, occupy or possess (except for illegal activities or for the purpose of providing transportation of passengers or cargo in air commerce for compensation or hire) for 2 or more periods for which the scheme is to operate, an aircraft, where:
           (a)          the aircraft is, or monies to purchase the aircraft are, provided by Avia Airshares to the Avia Plane Owning Company as consideration for the issue of shares in the Avia Plane Owning Company to Avia Airshares with a view to those shares being transferred to persons wishing to use, occupy or possess the aircraft from time to time in accordance with the Shareholders' Agreement and Management Agreement; and
           (b)          the sale of the shares in the Avia Plane Owning Company is carried out by Avia Airshares in accordance with a Sales Deposit Agreement and Share Purchase Agreement; and
           (c)          the number of holders of shares in each Avia Plane Owning Company does not exceed 16 persons; and
           (d)          the management of the aircraft, including as to maintenance, repairs, scheduling and regulatory compliance, is carried out by Avia in accordance with a