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CORPORATIONS LEGISLATION AMENDMENT ACT 2003 NO. 24, 2003 - SCHEDULE 5

- Other amendments

Australian Securities and Investments Commission Act 2001

1 Paragraph 137(1)(a)

Omit "$250,000", substitute "$1 million".

2 After subsection 153(1)

Insert:

(1A) The Chairperson of ASIC may nominate in writing a person to attend a particular meeting, or all meetings, of CAMAC at which the Chairperson is not present.
(1B) The Chairperson may only nominate a person who is:
(a) a member of ASIC; or
(b) an SES employee or acting SES employee of ASIC.

Corporations Act 2001

3 Section 9 (definition of marketable securities)

Omit "prescribed interest", substitute "interest in a managed investment scheme".

4 Subsection 169(5A) (note)

Repeal the note, substitute:

Note: See also section 1072H (in particular, subsection 1072H(8) which contains relevant presumptions about beneficial ownership).

5 Subsection 169(6)

Omit "subsection (5)", substitute "subsection (5A)".

6 Subsection 169(6)

Omit "section 1096A", substitute "section 1072H".

7 Section 201C

Repeal the section.

8 At the end of paragraph 262(1)(g)

Add:

; or (iii) a charge where there is an agreement in force under which the chargee (or a person who has agreed to act on the instructions of the chargee) controls the sending of some or all electronic messages or other electronic communications by which the marketable security could be transferred;
9 At the end of Chapter 10

Add:

Part 10.3—Transitional provisions relating to the Corporations Legislation Amendment Act 2003

The amendment made by item 8 of Schedule 5 to the Corporations Legislation Amendment Act 2003 applies only to charges created after the commencement of that item.


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