Document ID: chunk:federal_register_of_legislation:F2023C00923:reg:5
Version: federal_register_of_legislation:F2023C00923
Segment Type: reg
Provision Reference: reg 5
Character Range: 2580–3647

5        Relevant interests, ASIC and ASIC Chairperson

        (1)          Chapters 6 and 6C of the Act applies to all persons as if section 609 of the Act were modified or varied by, after subsection (9C), inserting:

       "ASIC

               (9D)  Subject to subsection (9E), ASIC does not have a relevant interest in securities.

               (9E)   ASIC may have a relevant interest in securities if:

                  (a)     the securities are vested in, or held by, ASIC for and on behalf of the Commonwealth; or

                  (b)     the securities are vested in, or held by, the Commonwealth on trust.

               (9F)   To avoid doubt, the Chairperson of ASIC does not have a relevant interest in securities merely because ASIC has a relevant interest in securities and the Chairperson holds that office.".

        (2)     Chapters 6, 6A and 6C of the Act apply to all persons as if subsection 12(2) of the Act were modified or varied by, after "if, and only if," inserting "neither of the persons is ASIC and".

Part 3—Repeal