ob体育

news item

ob体育 proposes to remake relief for offers of CHESS Depository Interests

Published

ob体育 is seeking feedback on our proposal to remake Class Order Offers of CHESS Depository Interests, which is due to expire on 1 April 2025.

ob体育 has assessed that the current class order continues to form a necessary and useful part of the legislative framework. Therefore, ob体育 is proposing to remake the class order on largely the same terms, for a period of five years. 听

Changes include minor revisions to the definition of 'depository interests' and the wording of the Australian financial services (AFS) licence exemption. These changes are intended to improve clarity, not change the operation of the relief.

The purpose of the remade relief is to continue to:

  • remove any uncertainty about how offers of CHESS Depository Interests (CDIs) over foreign shares and options are regulated under the Corporations Act 2001;
  • facilitate offers of CDIs over foreign shares and options, and to assist foreign companies to make such offers in an efficient market, and
  • promote better understanding for retail investors about CDIs, to assist them to make confident and informed investment decisions.

Note: ob体育 has received an application for relief from Cboe Australia Pty Ltd (Cboe) to include Cboe in the definition of 鈥榓pproved financial market鈥�.听 If ob体育 approves that application, it may update that definition to include Cboe.

Consultation

ob体育 invites feedback from stakeholders on its proposal to remake [CO 14/827], which is due to sunset on 1 April 2025: see CS 15听Proposed remake of relief for offers of CHESS Depository Interests.听 Submissions should be sent by 5pm AEDT on Friday 28 February 2025 to [email protected].

More information

听