ASIC has announced class order relief to issuers of warrants offered under a Product Disclosure Statement (PDS) or Supplementary PDS covering two or more warrant products.

The relief is from the requirement in the Corporations Act (the Act) to notify ASIC when a warrant ceases to be available in certain circumstances.

Under Class Order [CO 08/781] Warrants: Out-of-use notices a warrant issuer will only need to lodge an out-of-use notice with ASIC when all the warrants to which the PDS or Supplementary PDS relates are no longer available.

ASIC also released Regulatory Guide 197 Warrants: Out-of-use notices (RG 197) which further explains the relief given in CO 08/781.

CO 08/781 was registered on Federal Register of Legislative Instruments on 31 October 2008 and commenced on that date.