ASIC is seeking feedback on its proposal to remake four legislative instruments which provide relief related to exchange-traded derivatives and securities.
The four legislative instruments, which are due to sunset in September and October 2026, are:
- ASIC Corporations (Exchange-Traded Derivatives: Multiple Issuers) Instrument 2016/883
- ASIC Corporations (Securities: NZ FASTER System) Instrument 2016/891
- ASIC Corporations (Transfers of Division 3 Securities) Instrument 2016/893, and
- ASIC Corporations (Securities Lending Arrangements) Instrument 2021/821.
We have determined these instruments are operating effectively and continue to form a necessary and useful part of the legislative framework.
ASIC proposes to remake the four legislative instruments for a period of five years, with minor amendments. The effect of these instruments will remain unchanged when remade.
Providing feedback
Feedback should be sent to rri.consultation@asic.gov.au by 5pm AEST on Monday, 20 July 2026.
Refer to CS 56 Proposed remake of exchange-traded derivative and securities-related instruments for further detail.
Background
Under the Legislation Act 2003, all legislative instruments automatically sunset after 10 years, unless ASIC takes action to preserve them.
ASIC Corporations (Exchange-Traded Derivatives: Multiple Issuers) Instrument 2016/883 modifies the Product Disclosure Statement (PDS) disclosure requirements in Part 7.9 of the Corporations Act 2001 (Corporations Act) for certain exchange-traded derivatives that are taken to be issued by an intermediary and a market participant, so that only the market participant is required to provide a PDS, and the intermediary’s disclosure obligations are modified. This instrument extended the relief that was originally provided in Class Order [CO 06/682] Multiple derivative issuers.
ASIC Corporations (Securities: NZ FASTER System) Instrument 2016/891 operates by providing targeted exemptions and modifications to Part 7.11 of the Corporations Act so that securities transferred through New Zealand’s FASTER settlement system (now the NZCDC Legal Title Transfer system) are legally recognised in Australia. This instrument extended the relief that was originally provided in Class Order [CO 07/183] Transfer of Australian securities traded in New Zealand.
ASIC Corporations (Transfers of Division 3 Securities) Instrument 2016/893 provides that Division 3 of Part 7.11 of the Corporations Act and regulations made for the purposes of section 1073D apply to shares in, or debentures of, a foreign company that are quoted on the financial market operated by ASX Limited. This enables these securities to be transferred with the benefit of statutory warranties and indemnities. This instrument extended the relief that was originally provided in Class Order [CO 02/313] Part 7.11: Transfers of securities under Division 3.
ASIC Corporations (Securities Lending Arrangements) Instrument 2021/821 provides relief to persons engaged in securities lending in relation to the substantial holding provisions of Chapter 6C of the Corporations Act. This instrument extended the relief that was originally provided in Class Order [CO 11/272] Substantial holding disclosure: securities lending and prime broking.
