Document ID: chunk:federal_register_of_legislation:F2019C00215:body:0:p4
Version: federal_register_of_legislation:F2019C00215
Segment Type: other
Provision Reference: 
Character Range: 8106–11035

a Division 4 financial product if the financial product is declared by ASIC, under section 1075A of the Act, to be a financial product the transfer of which will be effected through ASTC under the Regulations.
            Note 2: ASX Settlement Pty Limited was previously known as ASX Settlement and Transfer Corporation Pty Limited (ASTC).
Transferable custody receipts and warrants
(2) Part 7.11 of the Act applies to:
           (aa) transferable custody receipts;
           (a) warrants that are able to be traded on the financial market operated by ASX or Chi-X; and
           (b) warrants that are admitted to the AQUA Quote Display Board;
           as if subregulations 7.11.03(4) and (5) of the Regulations were omitted.
Rights
(3) Part 7.11 of the Act applies to Division 4 financial products that are rights (within the meaning of subregulation 7.11.28(4) of the Regulations) as if regulation 7.11.28 of the Regulations were modified or varied as follows:
           (a) before subregulation (1) insert:
                "(1A) If a proper ASTC transfer of a Division 4 financial product that is a right takes effect at a particular time, the transferee is taken to have agreed at that time to accept the right subject to the terms and conditions on which the transferor held the right immediately before that time, being the terms and conditions that are applicable as between the issuer in relation to, and the holder for the time being of, the right.";
(b) in subregulation (1) omit "takes effect at a particular time", substitute "has taken effect, and at that time (the payment time) or at a later time (the payment time) the transferee makes payment to the issuer in relation to the rights of the application money or, in the case of company options, the exercise price";
(c) in subregulations (1), (2) and (3) omit "at that time" (wherever occurring), substitute "at the payment time";
(d) in subregulation (4) before the definition of right, insert:
"company option means a right that is an assignable option to acquire by way of issue shares or debentures in a company on payment of an exercise price.".

6 Application of Part 7.11 of the Act to interests in a registered scheme
    Part 7.11 of the Act applies to interests in a registered scheme as if paragraph 7.11.08(b) of the Regulations were modified or varied by omitting "the Australian Stock Exchange Limited." and substituting "ASX Limited or Chi-X Australia Pty Ltd.".

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration      Date of commencement  Application, saving or transitional provisions
2015/1030          10/11/2015 (see F2015L01771)  11/11/2015
2017/571           9/11/2017 (see F2017L01458)   10/11/2017            -
2019/45            4/3/2019 (see F2019L00236)    5/3/2019              -

Endnote 2—Amendment history
ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. =