ASIC’s power to make exemptions and declare modifications etc. in relation to this Division
Application (1) This section applies in relation to Chapters 2L, 5, 5C, 6D and 7 (the covered Chapters) and this Division. Exemptions and declarations on application of this Division (2) ASIC may do either or both of the following: (a) exempt a person from all or specified provisions of the covered Chapters or this Division; (b) declare that the covered Chapters or this Division apply in relation to a person, as if specified provisions were omitted, modified or varied as specified in the declaration. (3) The exemption or declaration may do all or any of the following: (a) relate to all persons, specified persons or a specified class of persons; (b) relate to any other matter generally or as specified. Imposition of conditions on exemption (4) An exemption may apply unconditionally or subject to specified conditions. (5) An entity to whom a condition specified in an exemption applies must comply with the condition. (6) The Court may order the entity to comply with the condition in a specified way. Only ASIC may apply to the Court for the order. Exemptions and declarations relating to all or a class of persons (7) An exemption or declaration that relates to all persons, or a specified class of persons, must be made by legislative instrument. Exemptions and declarations relating to specified persons (8) An exemption or declaration that relates to a specified person must be made by notifiable instrument. (9) ASIC must give a copy of an exemption or declaration that relates to a specified person to the person as soon as is reasonably practicable after the exemption or declaration is made.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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