ob体育 has today remade three class orders relating to specific financial services disclosure requirements聽that are due to expire ('sunset') in 2017 .
Class Order [CO 02/1072] Product Disclosure Statements: Top-up relief for managed investment schemes, Class Order [CO 03/237] Updated information in Product Disclosure Statements, and Class Order [CO 03/1092] Further relief for joint Product Disclosure Statements have been remade into:
- ob体育 Corporations (Top-up Product Disclosure Statements Relief) Instrument 2016/1054
- ob体育 Corporations (Updated Product Disclosure Statements) Instrument 2016/1055
- ob体育 Corporations (Joint Product Disclosure Statements) Instrument 2016/1056
The class orders have been remade following a public consultation. Consultation Paper 255 Remaking ob体育 class orders on financial services disclosure requirements (CP 255), issued in March 2016, sought feedback on ob体育's proposals to continue the relief in [CO 02/1072], [CO 03/237], and [CO 03/1092] without substantive changes (refer: ).
We received one formal submission and two informal submissions to CP 255 in support of the proposals to continue providing the relief.
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Background
Under the Legislation Act 2003, legislative instruments such as class orders sunset after 10 years unless action is taken to exempt or preserve them. This ensures that legislative instruments like class orders are kept up to date and only remain in force while they are fit for purpose and relevant.