CP 365 Remaking ASIC class orders on takeovers, compulsory acquisitions and relevant interests

Released 30 November 2022. Comments closed 23 January 2023.

This consultation paper sets out ASIC’s proposals to remake a number of our class orders on takeovers, compulsory acquisitions and relevant interests into ASIC instruments. Under the Legislation Act 2003, these class orders will expire (‘sunset’) if not remade.

We are seeking feedback from law firms, industry and other interested parties on our proposals to remake, without significant changes, these class orders into instruments.

On 23 November 2022, the Government introduced the first tranche of legislation to move nominal modifications of the law currently in legislative instruments made by ASIC directly into the primary Acts and regulations. As those instruments approach their end dates, Treasury and ASIC will progressively review the instruments to determine whether the structure and navigability of the law would be improved if the instruments were instead contained in the primary law or regulations. We are seeking feedback on our proposals to remake these instruments if they are not incorporated into the primary law as part of a future incorporation process before they are due to expire.

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CP 365 Remaking ASIC class orders on takeovers, compulsory acquisitions and relevant interests

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