Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
The provisions covered by this section are: (a) the following provisions:
(i) the provisions of this Part;
(ii) the provisions of regulations made for the purposes of provisions of this Part;
(b) definitions in this Act, or in the regulations, as they apply to references in provisions referred to in paragraph (a) .
(iii) the provisions of rules made under Division 2 ; and
828R(2)
The regulations, or ASIC by written instrument, may exempt a person or class of persons from all or specified provisions covered by this section.
828R(3)
An exemption may apply unconditionally or subject to specified conditions. A person to whom a condition specified in an exemption applies must comply with the condition. The Court may, on application by ASIC, order the person to comply with the condition in a specified way.
828R(4)
An exemption by ASIC is a legislative instrument if the exemption is expressed to apply in relation to a class of persons, (whether or not it is also expressed to apply in relation to one or more persons identified otherwise than by reference to membership of a class).
828R(5)
If subsection (4) does not apply to an exemption by ASIC, the exemption is a notifiable instrument.
828R(6)
If there is an inconsistency between: (a) an exemption prescribed by regulations made for the purposes of subsection (2) ; and (b) an exemption by ASIC under that subsection;
(including in relation to any conditions specified by ASIC), the regulations prevail to the extent of the inconsistency.
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