Document ID: chunk:federal_register_of_legislation:F2021C01043:body:0:p11
Version: federal_register_of_legislation:F2021C01043
Segment Type: other
Provision Reference: 
Character Range: 26747–29603

of the Act has effect under section 926A of the Act instead;

              Note:  ASIC Corporations (Miscellaneous Technical Relief) Instrument 2015/1115 provides relief from subsections 911A(1) and 911B(1) of the Act to a person who provides financial services on behalf of a person who does not need an Australian financial services licence because of an exemption made under section 926A of the Act.
           (e) the condition in paragraph 5 of the old class order continues to apply after 31 December 2017 in respect of a financial year ending on or before 31 December 2017.
    Where old class order continues to apply
(2) Until 28 February 2017, the old class order continues to apply as specified in subsection (1) in relation to a charitable investment fundraiser in relation to debentures or interests in a managed investment scheme if:
           (a) ASIC has registered an identification statement under the old class order that applied to the charitable investment fundraiser in relation to the debentures or interests and not revoked that registration; or
           (b) the charitable investment fundraiser has had accepted an identification statement for the purposes of this instrument that relates to the debentures or interests with:
(i) ASIC, and ASIC has not notified the charitable investment fundraiser in writing that ASIC has revoked the acceptance; or
(ii) a sponsor, and the sponsor has not notified the charitable investment fundraiser in writing that the sponsor has revoked the acceptance.
       (3) Until 31 December 2017, the old class order applies as specified in subsection (1) in relation to a charitable investment fundraiser in relation to debentures or interests in a managed investment scheme if the requirements referred to in paragraphs 2(a) and (b) are met in relation to the debentures or interests.
       (4) The old class order applies as specified in subsection (1) in relation to a person other than a charitable investment fundraiser in relation to debentures or interests in a managed investment scheme if the requirements in subsection (2) or (3) (as applicable) appear to the person to be met in relation to the charitable investment fundraiser and the debentures or interests.
    Conditions
(5) The charitable investment fundraiser must ensure that:
(a) on and after 1 January 2017, it does not issue a short-term investment product to any person as a retail, non-associated client; and
(b) on and after 1 January 2018, no person holds a short-term investment product:
(i) that is issued by the fundraiser; and
(ii) if it were issued to the holder on or after that date, it would be issued to the holder as a retail, non-associated client.
Paragraph (b) applies to short-term investment products issued before and after the commencement of this subsection.
(6) The charitable investment fundraiser