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August 18, 2011

ASIC extends “no action”on debentures advertising

ASIC has extended the interim no-action position that allows issuers to call their products ‘debentures’ where they have provided security over intangible property. This interim no-action position is now due to expire on 31 January 2012. (Background)

ASIC is undertaking further consultation in response to Consultation Paper 151 Debt securities: Modifying the naming provisions and advertising requirements (CP 151).

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Posted 18th August 2011 by David Jacobson in Corporations Act, Financial Services