30. March 2011 14:16
CP 151 Debt securities: modifying the naming provisions and advertising requirements sets out proposals to:
- introduce class order relief to provide for a new class of debt security (in addition to the current classes of ‘debenture’, ‘mortgage debenture’ and ‘unsecured note’) called a ‘note’, providing certain conditions (including sufficiency of security) are met; and
- revise ASIC’s advertising standards for offers of debt securities and interests in mortgage schemes, in particular the standards relating to risk of loss and comparing these types of securities with bank deposits.
Comment is open until 6 May 2011. More information is available on the ASIC site.