I, Nathan Bourne, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.Date 23 September 2026Nathan BourneContentsPart 1—Preliminary 31 Name of legislative instrument....................................32 Commencement...............................................33 Authority....................................................34 Schedules....................................................35 Simplified outline of this instrument...............................36 Definitions...................................................3Part 2—Declaration 47 Section 981B modification—common funds that are registered schemes...4Part 3—Repeal 58 Repeal.......................................................5Schedule 1—Repeals 6ASIC Corporations (Client money - Cash common funds) Instrument 2016/671 6
This instrument commences on the day after it is registered on the Federal Register of Legislation.Note: The register may be accessed at www.legislation.gov.au.
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
This instrument modifies the Act to allow financial services licensees to pay client money into an account that relates to a cash common fund that is a registered scheme and is operated by a licensed trustee company.
Part 7.8 of the Act applies in relation to a financial services licensee as if section 981B were modified or varied by, after subparagraph 981B(1)(a)(i), inserting:“(ia) with a licensed trustee company and relates to a common fund (within the meaning of subsection 601SCA(2)) that is also a registered scheme and only invests in one or more of the following and only to the extent authorised by the constitution of the scheme:(A) fixed interest securities;(B) negotiable instruments; or”.