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Consultation Paper 369: Remaking ASIC class orders on platforms: (CO 13/762) and (CO 13/763)

The Financial Services Committee of the Business Law Section of the Law Council of Australia (the Committee) provided a submission to the Australian Securities and Investments Commission (ASIC) in respond to ASIC Consultation Paper 369 Remaking ASIC class orders on platforms: [CO 13/762] and [CO 13/763] (the Consultation Paper).

The Consultation Paper proposes that ASIC will remake the following legislative instruments, without significant changes:

(a) Class Order [CO 13/762] Investor directed portfolio services provided through a registered managed investment scheme (Class Order 13/762); and

(b) Class Order [CO 13/763] Investor directed portfolio services (Class Order 13/763).

These class orders are due to expire on 1 October 2023. ASIC is proposing to replace these class orders with new legislative instruments with an expiry date of 1 October 2028.

The Committee agrees with ASIC’s proposal to remake Class Order 13/762.

Last Updated on 24/05/2023

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