Document ID: chunk:federal_register_of_legislation:F2016L01620:body:0:p1
Version: federal_register_of_legislation:F2016L01620
Segment Type: other
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Character Range: 0–2876

ASIC Corporations (Renounceable Rights Issue Notifications) Instrument 2016/993
I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date  10 October 2016

Grant Moodie

Contents

Part 1—Preliminary
1 Name of legislative instrument
2 Commencement
3 Authority
4 Definitions
Part 2—Exemption
5 Rights issue notifications

Part 1—Preliminary

1 Name of legislative instrument
This is the ASIC Corporations (Renounceable Rights Issue Notifications) Instrument 2016/993.

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 subsections 741(1) and 1020F(1) of the Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.
Division 3 asset has the same meaning as in subregulation 1.0.02(1) of the Regulations.
Division 3 rights has the same meaning as in subregulation 1.0.02(1) of the Regulations.
excluded person, in relation to an offer under a renounceable rights issue,  means a person who resides in a jurisdiction where, in the reasonable opinion of the body or responsible entity, it is not lawful or practicable to make the offer as at the time of the offer.
Regulations means the Corporations Regulations 2001.
renounceable rights issue means:
           (a)  an offer of  a body's securities for issue in respect of which the following conditions are met:
              (i) the securities being offered for issue are in a particular class;
              (ii) the offer is made to every person (other than an excluded person) who holds securities in that class to issue them, or their assignee, with the percentage of the securities to be issued that is the same as the percentage of the securities in that class that they hold before the offer;
              (iii) under the terms of the offer, the rights to acquire, by way of issue, the securities can be sold or transferred to another person; or
           (b) an offer of a interests in a managed investment scheme for issue in respect of which the following conditions are met:
              (i) the interests being offered for issue are in a particular class;
              (ii) the offer is made to every person (other than an excluded person) who holds interests in that class to issue them, or their assignee, with the percentage of the interests to be issued that is the same as the percentage of the interests in that class that they hold before the offer;
              (iii) under the terms of the offer, the rights to acquire, by way of issue, the interests can be sold or transferred to another person.
rights renunciation form means:
           (a) Form 5, 6, 7 or 8 in Schedule 2A to the Regulations or a form that is