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
Class Order Relief for Business Introduction or Matching Services – Australian Securities and Investments Commission
On 29 March 2017, the Australian Securities and Investments Commission (ASIC) remade the Class Order (CO 02/273) without significant amendments.
The Class Order 02/273 provides conditional exemptions from the fundraising and debenture requirements in the Corporations Act 2001 (the Act) for persons involved in making or calling attention to offers of securities through a business introduction service. It intends to facilitate the growth of small and medium enterprises (SMEs) by reducing the regulatory burden of small-scale fundraising and assist SMEs to locate potential investors.
Consistent with Government’s best practice regulation requirements for sunsetting instruments, ASIC has assessed the Class Order 02/273 is operating effectively and efficiently. Therefore, a Regulation Impact Statement is not required for remaking this class order without significant amendments.