ASIC has released an updated Regulatory Guide 30 Paperless issues and transfers under a global debenture (RG30).

RG 30 sets out ASIC’s guidance on granting relief from the obligation under section 1071H of the Corporations Act 2001 for an issuer to provide certificates or other title documents for a paperless issue or transfer under a global debenture.

The update to RG30 has not changed ASIC’s policy on the issue and transfer of global debentures.

The update makes reference to new provisions of the Corporations Act 2001 since RG30 was last published and reflects the current approaches to the management of global debenture issues. As a result of the update to RG 30, ASIC will retire Pro Forma 2 Paperless issues under a global debenture. Relief will now be provided in individual instruments reflecting the conditions outlined in RG30 (see Table 1 and Table 2).

ASIC will keep this policy under review, especially in light of changing market conditions, legal developments and other circumstances.

This advisory notice is available in full at ASIC.