CORPORATIONS ACT 2001 No. 50, 2001 - SECT 340 ASIC's power to make specific exemption orders
CORPORATIONS ACT 2001 No. 50, 2001 - SECT 340
ASIC's power to make specific exemption orders(1) On an application made in accordance with subsection (3) in relation to a company, registered scheme or disclosing entity, ASIC may make an order in writing relieving any of the following from all or specified requirements of Parts 2M.2, 2M.3 and 2M.4:
- Note: For the criteria for making orders under this section, see section 342.
(2) The order may:
- (a)
- be expressed to be subject to conditions; and
- (b)
- be indefinite or limited to a specified period.
(3) The application must be:
- (a)
- authorised by a resolution of the directors; and
- (b)
- in writing and signed by a director; and
- (c)
- lodged with ASIC.
(4) ASIC must give the applicant written notice of the making, revocation or suspension of the order.