The corporate regulator has proposed to review the class orders on the basis that they no longer serve a regulatory purpose, a statement issued by ASIC said.
ASIC commissioner John Price said, “ASIC is focused on reducing unnecessary regulation”.
“We believe repealing these redundant class orders will help reduce the complexity of the regulatory regime,” he said.
“However, we would welcome any feedback if people consider repealing any of these instruments would in some way impose a regulatory burden on business."
Consultation Paper 229 Repealing redundant ASIC class orders (CP 229) outlines the class orders under review.
Industry submissions on the proposal are due no later than 17 July 2015.
