Document ID: chunk:federal_register_of_legislation:F2016L00334:body:0:p1
Version: federal_register_of_legislation:F2016L00334
Segment Type: other
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Character Range: 0–2870

ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84
I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date  9 March 2016

Grant Moodie

Contents

Part 1—Preliminary
1 Name of legislative instrument
2 Commencement
3 Authority
4 Definitions
Part 2—Declaration
5 Meaning of "rights issue"
6 Rights issues and related issues that do not need disclosure
7 Rights issues and related issues for which PDS is not required
8 Sale offer of quoted securities issued under rights issue
9 Transfer or sale of quoted financial products issued under rights issue

Part 1—Preliminary

1 Name of legislative instrument
This instrument is ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84.

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 sections 741 and 1020F of the Corporations Act 2001.

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

Part 2—Declaration

5 Meaning of "rights issue"
(1) Chapter 6D of the Act applies to all persons as if subsection 9A(1) were modified or varied as follows:
(a) omit subparagraph (b)(ii), substitute:
"(ii) if the conditions in subsection (3) are met—such an offer is made to:
(A) every person with a registered address in Australia or New Zealand; and
(B) every other person (if any) with a registered address outside Australia and New Zealand to whom the body decides to make offers,
who holds securities in that class;"; and
(b) at the end of subsection (1) insert:
              "Note: Paragraph (b) covers offers made to persons because they hold securities in the relevant class. It does not cover offers made to persons in some other capacity, for example, because they hold securities which are convertible into securities in the relevant class.  Accordingly, these other offers do not affect whether the conditions in paragraph (b) or (c) are met.".
 (2) Part 7.9 of the Act applies in relation to all persons as if subsection 9A(2) were modified or varied as follows:
(a) omit subparagraph (b)(ii), substitute:
"(ii) if the conditions in subsection (3) are met—such an offer is made to:
(A) every person with a registered address in Australia or New Zealand; and
(B) every other person (if any) with a registered address outside Australia and New Zealand to whom the responsible entity decides to make offers,
who holds interests in that class;"; and
(b) at the end of subsection (2) insert:
              "Note: Paragraph (b) covers offers made to persons because they hold interests in the relevant class.  It does not cover offers made to persons in some other capacity, for example, because they hold financial products