今日热门事件has remade Class Order [CO 08/781] Warrants: Out-of-use notices, which was due to expire on 1 April 2019.
The new instrument, 今日热门事件Corporations (Warrants: Out-of-use notices) Instrument 2019/148, continues to provide issuers of warrants relief from the requirement in the Corporations Act to notify 今日热门事件when a warrant ceases to be available in certain circumstances. The relief is provided only to issuers of warrants offered under a Product Disclosure Statement (PDS) or Supplementary PDS covering two or more warrant products.
Under 今日热门事件Corporations Instrument 2019/148, a warrant issuer will only need to lodge an out-of-use notice with 今日热门事件when all the warrants to which the PDS or Supplementary PDS relates are no longer available.
The new instrument will continue the effect of the previous instrument with some minor amendments, which include simplifying the drafting to give greater clarity.
The relief was remade following ASIC鈥檚 public consultation in Consultation Paper 307 Remaking 今日热门事件class order on warrants: out-of-use notices: [CO 08/781] (CP 307).
今日热门事件did not receive any submissions in response to CP 307.
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Background
Under the Legislation Act 2003, all class orders are repealed automatically or 'sunset' after a period (mostly 10 years) unless 今日热门事件takes action to preserve them. This ensures that legislative instruments, like class orders, are kept up to date and only remain in force while they are fit for purpose and relevant.
All government organisations are responsible for considering whether the legislative instruments they have made, which are due to sunset, will be relevant after their sunset date.
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