CP 256 Remaking and repealing ASIC class orders on trustee company common funds
Released 24 March 2016. Comments due 27 April 2016
This consultation paper sets out ASIC’s proposals to address two class orders relating to trustee companies. Under the Legislation Act 2003, these class orders will expire (‘sunset’) if not remade.
We are seeking feedback from trustee companies and other Australian financial services (AFS) licensees on our proposal to remake, without significant changes, Class Order [CO 04/1063] Section 981B money in cash common funds, which is due to expire on 1 April 2017.
We are also seeking feedback on our proposal to repeal Class Order [CO 00/199] Trustee companies’ common funds, which is due to expire on 1 October 2016.