Document ID: chunk:federal_register_of_legislation:F2014C01243:body:0:p1
Version: federal_register_of_legislation:F2014C01243
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ASIC Class Order [CO 14/827]

Offers of CHESS Depository Interests

This instrument has effect under s741(1)(b), 911A(2)(l) and 1020F(1)(c) of the Corporations Act 2001.

This compilation was prepared on 5 November 2014 taking into account amendments up to [CO 14/1106]. See the table at the end of this class order.

Prepared by the Australian Securities and Investments Commission.

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraphs 741(1)(b), 911A(2)(l) and 1020F(1)(c) — Declaration and Exemption

Enabling legislation

    1. The Australian Securities and Investments Commission makes this instrument under paragraphs 741(1)(b), 911A(2)(l) and 1020F(1)(c) of the Corporations Act 2001 (the Act).

Title

    2. This instrument is ASIC Class Order [CO 14/827].

Commencement

    3. This instrument commences on the later of:

       (a) the date it is registered under the Legislative Instruments Act 2003; and

       (b) the date of its gazettal.

       Note: An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, section 4 (definition of register). The FRLI may be accessed at http://www.frli.gov.au/.

    Declaration

    4. Chapter 6D of the Act applies to all persons as if the following provisions were omitted, modified or varied:

       (a) at the end of subsection 700(1) insert on a new line:

           "In this Chapter, securities also includes depository interests.";

       (b) after subsection 700(1) insert:

            "(1A) In this Chapter:

            approved financial market means a financial market operated by:

               (a) ASX Limited;

               (b) Asia Pacific Exchange Limited;

               (c) National Stock Exchange of Australia Limited; or

               (d) SIM Venture Securities Exchange Ltd.

            ASX Settlement means ASX Settlement Pty Limited.

               CDN means CHESS Depositary Nominees Pty Limited.

            depository interests, in relation to the underlying securities of a foreign company held by CDN in accordance with the operating rules of ASX Settlement, means units of beneficial ownership in the securities that are issued for the purpose of enabling the securities to be recorded and transferred in accordance with the operating rules.

            underlying securities, in relation to depository interests, means:

               (a) shares of a foreign company which are, or are proposed to be, admitted to quotation on an approved financial market; or

               (b) beneficial interests in shares of a foreign company, where the interests or the shares to which the interests relate are, or are proposed to be, admitted to quotation on an approved financial market; or

               (c) options to acquire, by way of issue, shares of a foreign company, where:

                   (i) the options are, or are proposed to be, admitted to quotation on an approved financial market; and

                   (ii) the shares are in a class of shares that are, or are proposed to be, admitted to quotation on that market.";

       (c) after section 703A insert:

           "703B  Application