111AE

Securities of bodies or undertakings included in a licensed market’s official list

In force

(1)

If:

(a)

a body corporate (other than a notified foreign passport fund) is, with its agreement, consent or acquiescence, included in the official list of a declared financial market; and

(b)

the market’s listing rules (according to their terms) apply to the body in relation to a class (which may be some or all) of securities issued by the body;

securities issued by the body in that class are ED securities, and that market is a listing market in relation to that body.

(1A)

If:

(a)

an undertaking to which interests in a registered scheme relates is, with the agreement, consent or acquiescence of the responsible entity, included in the official list of a declared financial market; and

(b)

the market’s listing rules (according to their terms) apply to the undertaking in relation to a class (which may be some or all) of managed investment products that relate to the scheme;

managed investment products in that class that relate to the scheme are ED securities, and that market is a listing market in relation to the undertaking.

(1B)

If:

(a)

an undertaking to which interests in a notified foreign passport fund relate is, with the agreement, consent or acquiescence of the operator of the fund, included in the official list of a declared financial market; and

(b)

the market’s listing rules (according to their terms) apply to the fund in relation to a class (which may be some or all) of foreign passport fund products that relate to the fund;

foreign passport fund products in that class that relate to the fund are ED securities, and that market is a listing market in relation to the fund.

(1C)

If:

(a)

subsection (1) does not apply to securities issued by a CCIV; and

(b)

a sub‑fund of the CCIV is, with the agreement, consent or acquiescence of the CCIV, included in the official list of a declared financial market; and

(c)

the market’s listing rules (according to their terms) apply to the sub‑fund in relation to a class of securities issued by the CCIV that are referable to the sub‑fund;

securities in that class that are referable to the sub‑fund are ED securities, and that market is a listing market in relation to the CCIV.

Note:

Subsection (1) may apply to a CCIV instead of this subsection if the CCIV, and not a sub‑fund, is included in the official list of a declared financial market.

(2)

Subsections (1) and (1A) do not apply to securities of a body if:

(a)

the body is a public authority of the Commonwealth or an instrumentality or agency of the Crown in right of the Commonwealth; and

(b)

the only securities issued by the body that would otherwise be ED securities because of subsection (1) or (1A) are debentures; and

(c)

both the repayment of principal, and the payment of interest, in respect of those debentures is guaranteed by the Commonwealth.

(3)

Subsections (1) and (1A) do not apply to securities of a body that is:

(a)

a public authority of a State or Territory; or

(b)

an instrumentality or agency of the Crown in right of a State or Territory.

This Act’s bill:Explanatory memorandum Second reading speech

Research tools for this sectionSubscription

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.