{"id":"F2007B00083","name":"ASIC Class Order [CO 00/0227]","slug":"asic-class-order-co-00-0227","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":61752,"registerId":"commonwealth-F2007B00083-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 00/0227]","content":"Australian Securities and Investments Commission\n\nCorporations Law — Subsection 741(1) — Exemption\n\nPursuant to subsection 741(1) of the Corporations Law (Law) the Australian Securities and Investments Commission hereby exempts each person in the class of persons mentioned in Schedule A in the case mentioned in Schedule B from Parts 6D.2 and 6D.3 of the Law.\n\nSCHEDULE A\n\nPersons involved in issues, sales or offers as described in Schedule B.\n\nSCHEDULE B\n\nThe issue or sale of, or the offer for issue or sale of, rights or interests in a time‑sharing scheme or proposed time-sharing scheme:\n\n(a) which is or will be constituted by an agreement which provides for no more than 15 parties;\n\n(b) under which no party including the promoter is to benefit except on the same basis as opportunities available to each other party; and\n\n(c) which is not promoted by or on behalf of a person, or an associate of a person, whose ordinary business is or includes the promotion of similar schemes, whether or not that person is or is to become a party to the agreement constituting the scheme.\n\nDated the 9th day of February 2000\n\nSigned by Brendan Byrne\n\nas a delegate of the Australian Securities and Investments Commission","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":969},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This appears to be the original 2000 instrument. The scope is narrowly tailored to exempt small-scale, non-commercial time-sharing schemes from disclosure requirements, which aligns with the standard regulatory relief function of ASIC class orders. No evidence of scope expansion beyond the original intent of reducing compliance burdens for private arrangements."},"complexity_factors":["Short instrument with only three exemption conditions in Schedule B","Single cross-reference to Parts 6D.2 and 6D.3 of the Corporations Law (disclosure/prospectus requirements)","Minimal defined terms used (relies on existing definitions in the Corporations Law such as 'associate' and 'promoter')","Straightforward class structure (Schedule A persons doing Schedule B activities)"],"plain_english_summary":"This exempts small, private time‑sharing schemes from the usual prospectus requirement when offering interests. It applies to sellers or offerors only if the scheme is limited to 15 or fewer parties, treats all parties equally (no special advantages), and the promoter is not a commercial time‑share operator.  \n\nIt matters because it spares small, non‑commercial shared‑use arrangements the expense and formality of full prospectus disclosures."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-00-0227","history":"/api/acts/asic-class-order-co-00-0227/history","analysis":"/api/acts/asic-class-order-co-00-0227/analysis","conflicts":"/api/acts/asic-class-order-co-00-0227/conflicts","importantCases":"/api/acts/asic-class-order-co-00-0227/important-cases","documents":"/api/acts/asic-class-order-co-00-0227/documents"}}