CP 241 Remaking ASIC class orders on foreign licensees and ADIs: [CO 06/68] and [CO 03/823]
Released 1 October 2015
This consultation paper sets out ASIC’s proposals to remake as a single new ASIC instrument our class orders relating to foreign entities that hold an Australian financial services (AFS) licence (foreign licensees). Under the Legislative Instruments Act 2003, these class orders will expire (‘sunset’) if not remade.
We are seeking feedback from foreign licensees and ADIs on our proposals to remake, without significant changes, the following class orders:
- Class Order [CO 03/823] Relief from licensing, accounting and audit requirements for foreign authorised deposit-taking institutions, which is due to expire on 1 April 2017; and
- Class Order [CO 06/68] Conditional relief for foreign licensees from financial reporting and record keeping obligations, which is due to expire on 1 April 2016.