Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1100zk
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1100ZK
Character Range: 4845846–4847576

1100ZK  ASIC's power to make exemptions and declare modifications etc. in relation to this Division

Application
 (1) This section applies in relation to Chapters 2L, 5, 5C, 6D and 7 (the covered Chapters) and this Division.

Exemptions and declarations on application of this Division
 (2) ASIC may do either or both of the following:
 (a) exempt a person from all or specified provisions of the covered Chapters or this Division;
 (b) declare that the covered Chapters or this Division apply in relation to a person, as if specified provisions were omitted, modified or varied as specified in the declaration.
 (3) The exemption or declaration may do all or any of the following:
 (a) relate to all persons, specified persons or a specified class of persons;
 (b) relate to any other matter generally or as specified.

Imposition of conditions on exemption
 (4) An exemption may apply unconditionally or subject to specified conditions.
 (5) An entity to whom a condition specified in an exemption applies must comply with the condition.
 (6) The Court may order the entity to comply with the condition in a specified way. Only ASIC may apply to the Court for the order.

Exemptions and declarations relating to all or a class of persons
 (7) An exemption or declaration that relates to all persons, or a specified class of persons, must be made by legislative instrument.

Exemptions and declarations relating to specified persons
 (8) An exemption or declaration that relates to a specified person must be made by notifiable instrument.
 (9) ASIC must give a copy of an exemption or declaration that relates to a specified person to the person as soon as is reasonably practicable after the exemption or declaration is made.