Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 5   Rationalisation of ending ASIC instruments

Part 1   Acquisitions of relevant interests in voting shares

Corporations Act 2001

8   After subsection 609(3)

Insert:

Disposal of securities by financial services licensees

(3A) A financial services licensee does not have a relevant interest in securities merely because, in the ordinary course of the licensee's financial services business, a person specifically instructs the licensee to:

(a) dispose of the securities on behalf of the person; or

(b) enter into a position on behalf of the person under which the licensee has an obligation to make delivery of the securities by dealing in:

(i) a warrant within the meaning of the regulations; or

(ii) a financial product that, but for the product not being transferable, would be a warrant within the meaning of the regulations.