CP 273 Repealing ASIC class orders on holding client assets
Released 23 November 2016. Comments close 21 December 2016.
This consultation paper sets out ASIC’s proposals to repeal class orders on holding client assets that are no longer required and do not form a necessary and useful part of the legislative framework. Under the Legislation Act 2003, these class orders will expire ('sunset') if not remade.
We are seeking feedback on our proposals to repeal:
- Class Order [CO 03/1110] Prime brokerage: Relief from holding client property on trust, which is due to expire on 1 October 2017;
- Class Order [CO 03/1111] Prime brokerage: Relief from holding scheme property separately, which is due to expire on 1 October 2017; and
- Class Order [CO 03/1112] Relief from obligation to hold client money on trust, which is due to expire on 1 October 2017.