{"id":"F2007B00287","name":"ASIC Class Order [CO 00/2460]","slug":"asic-class-order-co-00-2460","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62004,"registerId":"commonwealth-F2007B00287-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 00/2460]","content":"Australian Securities and Investments Commission\n\nCorporations Law – Subsection 601QA(1) – Exemption and Declaration\n\nPursuant to paragraph 601QA(1)(a) of the Corporations Law (Law) the Australian Securities and Investments Commission (ASIC) hereby exempts each responsible entity of a time-sharing scheme from paragraph 601FC(1)(j) in relation to that scheme on the condition that, and for so long as, the responsible entity causes each item of scheme property of the scheme to be valued as soon as practicable after the  \nresponsible entity has reasonable grounds to believe that a valuation of that item is in the best interests of members or is necessary for fairness to all members.\n\nAnd pursuant to paragraph 601QA(1)(b) of the Law ASIC hereby declares that Chapter 5C of the Law applies to each responsible entity of a time-sharing scheme in relation to that scheme as if paragraph 601HA(1)(c) of the Law were modified or varied by inserting the word \"valued\" the words, \"in accordance with the  \nconditions of any exemption under paragraph 601QA(1)(a) that exempts the responsible entity from paragraph 601FC(1)(j) or, if the responsible entity is not exempt under such exemption,\".\n\nDated this 30th day of November 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":2246},"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"This instrument represents the original regulatory intent. It provides a targeted, conditional exemption for time-sharing schemes from specific valuation requirements without expanding into unrelated areas of financial regulation."},"complexity_factors":["Cross-references to three distinct statutory provisions (sections 601QA, 601FC, and 601HA)","Conditional trigger language requiring subjective assessment of 'reasonable grounds' and 'best interests'","Awkward textual modification inserting conditional phrasing into existing legislation","Specialised managed investment terminology (responsible entity, scheme property, members)"],"plain_english_summary":"**What this does**\n\nThis Class Order gives special permission (an **exemption**) to companies that manage **time-sharing schemes** (holiday accommodation arrangements where investors buy rights to use property for set periods each year).\n\n**The change**\n\nNormally, these companies (called *responsible entities*) must value the scheme's property regularly under strict timelines. This document exempts them from that rule on one condition:\n\n* They must value assets **as soon as practicable** only when they have **reasonable grounds** to believe a valuation is either:\n  * In the best interests of members (the investors), **or**\n  * Necessary to treat all members fairly\n\n**Why this matters**\n\nTime-sharing schemes typically hold real estate that doesn't fluctuate in value daily. This exemption stops managers from wasting money on unnecessary valuations, while still forcing them to act when there's a genuine need to protect investors. The Order also tweaks financial reporting rules to recognise this new valuation approach."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-00-2460","history":"/api/acts/asic-class-order-co-00-2460/history","analysis":"/api/acts/asic-class-order-co-00-2460/analysis","conflicts":"/api/acts/asic-class-order-co-00-2460/conflicts","importantCases":"/api/acts/asic-class-order-co-00-2460/important-cases","documents":"/api/acts/asic-class-order-co-00-2460/documents"}}