ASIC is seeking feedback from responsible entities of managed investment schemes and corporate directors of corporate collective investment vehicles (CCIVs) on proposals to remake ‘sunsetting’ class orders.
Consultation Paper 368 (CP 368) Remaking ASIC class orders: [CO 13/519] and [CO 13/656] sets out ASIC’s proposals on:
Class Order [CO 13/519] Changing the responsible entity; and
Class Order [CO 13/656] Equality of treatment impacting on the acquisition of interests.
These class orders relate to changing the responsible entity of a listed scheme and equal treatment obligations of a responsible entity and corporate director. They will expire (‘sunset’) on 1 October 2023 if not remade.
ASIC considers the class orders are operating effectively and efficiently and continue to form a necessary and useful part of the legislative framework. The fundamental policy principles that underpin the class orders have not changed.
ASIC invites submissions from stakeholders on our proposals to remake the class orders in substantially the same form for 5 years. Submissions on CP 368 are due on 11 April 2023.
