Regulation Impact Statement Updates

Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.

Remaking of sunsetting instrument without significant amendments

Aust Gov
27th October 2016

Australian Securities and Investments Commission

The Australian Securities and Investments Commission (ASIC) remade Class Order 02/281 ASX Dematerialised securities traded on Austraclear without significant amendments, on 19 September 2016.

The purpose of Class Order 02/281 is to ensure the equal legislative treatment of e-notes (including electronic certificates of deposit) and e-bills traded on Austraclear Limited to that of their respective paper-based equivalents, promissory notes (including certificates of deposit) and bills of exchange.

Consistent with the Australian Government’s best practice regulation requirements for sunsetting instruments, ASIC has assessed the operation of the Class Order in consultation with affected stakeholders and has certified that it is operating effectively and efficiently.

Therefore, under the Government’s best practice requirements, a Regulation Impact Statement (RIS) is not required for remaking this Class Order. ASIC has assessed that the amendments result in no change in regulatory burden.

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