{"id":"F2007B00067","name":"ASIC Class Order [CO 00/0345]","slug":"asic-class-order-co-00-0345","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":61722,"registerId":"commonwealth-F2007B00067-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 00/0345]","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\ntitle: Exemption Instrument\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\nAustralian Securities and Investments Commission\n\nCorporations Law — Subsection 669(1) — Exemption\n\nPursuant to subsection 669(1) of the Corporations Law (“Law”) the Australian Securities and Investments Commission hereby exempts all persons from subsections 665D(3) and 665D(4) of the Law to the extent that those provisions would otherwise require any person to give a notice to a company which has only one member or which is a wholly-owned subsidiary.\n\n \n\nDated this 1st day of  March 2000.\n\n \n\n \n\nSigned by Brendan Byrne\n\nas delegate of the Australian Securities and Investments Commission.\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1650},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This remains a narrow, targeted exemption from specific disclosure requirements. Its scope is limited to single-member and wholly-owned subsidiary companies, which aligns precisely with its original purpose of eliminating redundant reporting where ownership is already transparent."},"complexity_factors":["Single operative provision granting a blanket exemption","No definitions section or interpretation clauses","No conditional exceptions, provisos, or sunset clauses","Simple binary eligibility test (single member OR wholly-owned subsidiary)"],"plain_english_summary":"**What this does:**\nThis instrument removes a paperwork burden for people who acquire significant shareholdings in certain simple company structures.\n\n**The background:**\nUnder normal rules, when someone becomes a \"substantial holder\" (buying 5% or more of a company's shares), they must notify that company in writing. This helps companies keep track of their significant owners.\n\n**The exemption:**\nYou do **not** need to give this notice if the company is either:\n*   A **single-member company** (only one shareholder); or\n*   A **wholly-owned subsidiary** (100% owned by a parent company)\n\n**Why this matters:**\nIt cuts pointless red tape. If a company has only one owner—or is fully controlled by a corporate parent—it already knows exactly who owns it. Forcing investors to lodge formal notices in these cases would be telling the company something it already knows, so this exemption skips that step."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-00-0345","history":"/api/acts/asic-class-order-co-00-0345/history","analysis":"/api/acts/asic-class-order-co-00-0345/analysis","conflicts":"/api/acts/asic-class-order-co-00-0345/conflicts","importantCases":"/api/acts/asic-class-order-co-00-0345/important-cases","documents":"/api/acts/asic-class-order-co-00-0345/documents"}}