Document ID: chunk:federal_register_of_legislation:F2016L00331:body:0:p1
Version: federal_register_of_legislation:F2016L00331
Segment Type: other
Provision Reference: 
Character Range: 0–2981

ASIC Corporations (Sale Offers By Controllers) Instrument 2016/81
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 Sale offers of securities by a controller
6 Sale offers of financial products by a controller

Part 1—Preliminary

1 Name of legislative instrument
This instrument is ASIC Corporations (Sale Offers By Controllers) Instrument 2016/81.

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 Sale offers of securities by a controller
(1) Chapter 6D of the Act applies to all persons as if subsection 707(5) were modified or varied by omitting "section 708" and substituting "section 708 or 708A".
(2) Chapter 6D of the Act applies to all persons as if section 708A were modified or varied as follows:
(a) in paragraph (1A)(c) omit "when the relevant securities were issued.", substitute "when the relevant securities were sold by the controller.";
(b) omit paragraph (5)(a), substitute:
"(a) the relevant securities are in a class of securities that were quoted securities at all times in the following period:
                  (i) if this section applies because of subsection (1)—3 months before the day on which the relevant securities were issued; or
                  (ii) if this section applies because of subsection (1A)—3 months before the day on which the relevant securities were sold by the controller; and" ;
(c) omit paragraph (5)(b), substitute:
"(b) trading in that class of securities on a prescribed financial market on which they were quoted was not suspended for more than a total of 5 days during:
                  (i) if this section applies because of subsection (1)—
                  the shorter of the period during which the class of securities were quoted, and the period of 12 months before the day on which the relevant securities were issued; or
                  (ii) if this section applies because of subsection (1A)—
                  the shorter of the period during which the class of securities were quoted, and the period of 12 months before the day on which the relevant securities were sold by the controller; and ";
(d) omit paragraph (6)(a), substitute:
 "(a)   is given:
                  (i) if this section applies because of subsection (1)—
                  within 5 business days after the day on which the relevant securities were issued by the body; or
                  (ii) if this section applies because of subsection (1A)—within 5 business days after the