Document ID: chunk:federal_register_of_legislation:F2016L01490:body:0:p1
Version: federal_register_of_legislation:F2016L01490
Segment Type: other
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Character Range: 0–3134

ASIC Corporations (Exchange-Traded Derivatives: Multiple Issuers) Instrument 2016/883
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 Exchange-traded derivatives: Product Disclosure Statements

Part 1—Preliminary

1 Name of legislative instrument
This is the ASIC Corporations (Exchange-Traded Derivatives: Multiple Issuers) Instrument 2016/883.

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 1020F(1) of the Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.
Regulations means the Corporations Regulations 2001.

Part 2—Declaration

5 Exchange-traded derivatives: Product Disclosure Statements
    Part 7.9 of the Act applies in relation to financial services licensees as if the provisions of that Part were modified or varied as follows:
       (a) at the end of Subdivision B of Division 2, add:
       "1012L Obligation to give retail client information about intermediary licensee in relation to issue of derivative
       Where a person (the client) is given a Product Disclosure Statement or Short-Form PDS for a derivative that is covered by subsection 1013A(5), the intermediary licensee (within the meaning of subsection 1013A(5)) that is taken to be an issuer of the derivative must ensure that the client is given, in writing, the statements and information that would have been required by subsection 1013D(1) but for subsection 1013D(5) at or before the time when:
(a) the intermediary licensee offers to issue, offers to arrange for the issue of, or makes a recommendation to acquire, the derivative to the client; or
(b) the derivative is issued under such an offer or as a result of such a recommendation;
       if at the relevant time, the client has not already been given such statements and information.
           Note: The intermediary licensee may be required to give a Financial Services Guide to a person as a retail client. If the intermediary licensee is giving a Financial Services Guide to the client, the information required by this section may be included in the Financial Services Guide.";
        (b) after subsection 1013A(4) insert:
       "Exchange-traded derivatives: multiple issuers
(5) A Product Disclosure Statement for a derivative:
              (a) that is entered into, or acquired, on a financial market (the relevant market); and
              (b)  in relation to which both of the following are, because of subsection 761E(6), taken to be the issuer:
                  (i) a financial services licensee (the intermediary licensee) who is not a participant in the relevant market; and
                  (ii) another financial services licensee (the market participant) who is a participant in the relevant