Document ID: chunk:federal_register_of_legislation:F2024L00376:body:0:p1
Version: federal_register_of_legislation:F2024L00376
Segment Type: other
Provision Reference: 
Character Range: 0–2922

ASIC Corporations (mFund) Instrument 2024/18
I, Kate Metz, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 21 March 2024

Kate Metz

Contents

Part 1—Preliminary
1 Name of legislative instrument
2 Commencement
3 Authority
4 Definitions
Part 2—Exemption
5 Exemption in relation to an electronic application made through mFund
6 Conditions
7 Application where there is a Supplementary Product Disclosure Statement
Part 3—Declaration
8 Requirements before transmitting an electronic application through mFund
Part 4—Repeal
9 Repeal

Part 1—Preliminary

1 Name of legislative instrument
This is the ASIC Corporations (mFund) Instrument 2024/18.

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 paragraphs 1020F(1)(a) and (c) of the Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.
ASX means ASX Limited ACN 008 624 691.
ASX Operating Rules means the operating rules of the financial market operated by ASX on 21 March 2024.
ASX Settlement means ASX Settlement Pty Limited ACN 008 504 532.
ASX Settlement Operating Rules mean the operating rules of the clearing and settlement facility operated by ASX Settlement on 21 March 2024.
defective has the same meaning as in subsection 1016A(1) of the Act.
mFund means the facility that is operated by ASX and ASX Settlement and that is called, or has been called, the "ASX Managed Fund Settlement Service".

       Part 2—Exemption

5 Exemption in relation to an electronic application made through mFund
(1) A responsible entity of a registered scheme does not have to comply with subsection 1016A(2) of the Act in relation to the issue of an interest in the scheme to a person (acquirer) in response to an electronic application made to the responsible entity on behalf of the acquirer through mFund.
(2) The exemption in subsection (1) applies where:
(a) the application made through mFund contained or was accompanied by an electronic confirmation that a Product Disclosure Statement for the interest with a specified date has been given to the acquirer by a financial services licensee or an authorised representative of a financial services licensee; and
(b) the Product Disclosure Statement referred to in the confirmation:
(i) has been prepared by the responsible entity; and
(ii) was not defective as at the time when the application was made; and
(c) the responsible entity has no reason to believe that the requirements of the ASX Operating Rules and ASX Settlement Operating Rules have not been satisfied in relation to the application and the confirmation; and
(d) the responsible entity reasonably believes that the Product Disclosure Statement referred to in the confirmation