Document ID: chunk:federal_register_of_legislation:F2021L01333:body:0:p1
Version: federal_register_of_legislation:F2021L01333
Segment Type: other
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Character Range: 0–3175

ASIC Corporations (Securities Lending Arrangements) Instrument 2021/821
I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 27 September 2021

Anthony Graham

Contents

Part 1—Preliminary
1 Name of legislative instrument
2 Commencement
3 Repeal
4 Authority
5 Definitions
Part 2—Declaration
6 Securities lending—relevant interests
7 Securities lending—situations not giving rise to relevant interests
8 Securities lending—substantial holding information

Part 1—Preliminary

1 Name of legislative instrument
This is the ASIC Corporations (Securities Lending Arrangements) Instrument 2021/821.

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 Repeal
This instrument is repealed on 1 October 2026.

4 Authority
This instrument is made under subsection 673(1) of the Corporations Act 2001.

5 Definitions
In this instrument:
Act means the Corporations Act 2001.

       Part 2—Declaration

6 Securities lending—relevant interests
    Part 6C.1 of the Act applies to all persons as if section 608 were modified or varied by, after subsection (8), inserting:
"Securities lending arrangements
       (8A) If securities are subject to:
           (a) an arrangement (the securities lending arrangement) under which:
              (i) one entity (the lender) agrees that it will:
                  (A) deliver the securities to another entity (the borrower) or to an entity nominated by the borrower; and
                  (B) vest title in those securities in the entity to which they are delivered; and
              (ii) the borrower agrees that it will, after the lender does the things mentioned in subparagraph (i):
                  (A) deliver the securities (or equivalent securities) to the lender or to an entity nominated by the lender; and
                  (B) vest title in those securities (or those equivalent securities) in the entity to which they are delivered; or
           (b) an arrangement (the securities lending arrangement) under which:
              (i) the securities are held by one entity (the borrower) or an entity nominated by the borrower, on behalf of another entity (the lender); and
              (ii) the lender agrees that the borrower may deal in the securities on its own behalf or on behalf of a person; and
              (iii) the borrower agrees that it will at some future time:
                  (A) deliver the securities (or equivalent securities) to the lender or to an entity nominated by the lender; and
                  (B) vest title in those securities (or those equivalent securities) in the entity to which they are delivered;
       and the securities are subsequently disposed of by the borrower or an entity nominated by the borrower, resulting in that entity ceasing to have a relevant interest in the securities, the lender of the securities under the securities lending arrangement is taken to have a relevant interest in the securities (or equivalent securities) that the borrower has agreed to