Announcement date
26 March 2025
Link to announcement
ASIC Corporations (31-day Notice Term Deposits) Instrument 2025/172
Problem being addressed
The Australian Securities and Investments Commission (ASIC) Class Order [CO 14/1262] 31-day term deposits provided relief to allow term deposits which are only breakable upon 31 days’ notice to be treated as ‘basic deposit products’ despite not meeting the definition of that term in the Corporations Act.
The Class Order was due to sunset on 1 April 2025.