{"id":"F2007B00090","name":"ASIC Class Order [CO 01/1256]","slug":"asic-class-order-co-01-1256","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":61763,"registerId":"commonwealth-F2007B00090-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 01/1256]","content":"ASIC Class Order \\[CO 01/1256\\]\n\nQualified accountant\n\nThis instrument was made under s ubsection 88B(2) of the Corporations Act 2001.\n\nThis compilation was prepared on 4 October 2005 taking into account amendments up to \\[CO 04/173\\].\n\nPrepared by the Australian Securities and Investments Commission.\n\nAustralian Securities and Investments Commission  \nCorporations Act 2001 — Subsection 88B(2) — Declaration\n\nUnder subsection 88B(2) of the Corporations Act 2001 (the “Act”), the Australian Securities and Investments Commission hereby declares that all persons in the following classes of members of the following professional bodies are qualified accountants for the purposes of the Act:\n\n(a) any member of CPA Australia (“CPAA”) who is entitled to use the post-nominals “CPA” or “FCPA”, and is subject to and complies with CPAA's continuing professional education requirements;\n\n(b) any member of The Institute of Chartered Accountants in Australia (“ICAA”) who is entitled to use the post-nominals “CA”, “ACA” or “FCA”, and is subject to and complies with ICAA's continuing professional education requirements;\n\n(c) any member of the National Institute of Accountants (“NIA”) who is entitled to use the post-nominals “PNA”, “FPNA”, “MNIA” or “FNIA”, and is subject to and complies with the NIA's continuing professional education requirements; and\n\n(d) any member of an eligible foreign professional body who:\n\n(i) has at least 3 years of practical experience in accounting or auditing; and\n\n(ii) is providing a certificate for the purposes of paragraph 708(8)(c) or paragraph 761G(7)(c) of the Act to a person who is resident in the same country (being a country other than Australia) as that member.\n\nInterpretation\n\nIn this instrument “eligible foreign professional body” means each of the following:\n\n(a) American Institute of Certified Public Accountants;\n\n(b) Association of Certified Chartered Accountants (United Kingdom);\n\n(c) Canadian Institute of Chartered Accountants;\n\n(d) Institute of Chartered Accountants of New Zealand;\n\n(e) The Institute of Chartered Accountants in England and Wales;\n\n(f) The Institute of Chartered Accountants in Ireland;\n\n(g) The Institute of Chartered Accountants of Scotland.\n\n> Notes to ASIC Class Order \\[CO 01/1256\\]\n\n> Note 1\n\n> Note: ASIC Class Order \\[CO 01/1256\\] (in force under s ubsection 88B(2) of the Corporations Act 2001) as shown in this compilation comprises that Class Order amended as indicated in the Tables below.\n\nTable of Instruments\n\n| Instrument number | Date of making or FRLI registration | Date of commencement | Application, saving or transitional provisions |\n| ----------------- | ----------------------------------- | -------------------- | ---------------------------------------------- |\n| [CO 01/1256]      | 11/10/2001                          | 11/10/2001           | -                                              |\n| [CO 01/1468]      | 5/11/2001                           | 5/11/2001            | -                                              |\n| [CO 04/173]       | 2/3/2004                            | 2/3/2004             | -                                              |\n\nTable of Amendments\n\n> Note: ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted\n\n| Provision affected | How affected     |\n| ------------------ | ---------------- |\n| Para (c)           | am. [CO 01/1468] |\n| Para (d)           | ad. [CO 04/173]  |\n| Interpretation     | ad. [CO 04/173]  |","sortOrder":0}],"analysis":{"summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument declares which persons fall within the class of 'qualified accountant' under the Act; it does not amend the text of the Act itself."},"complexity_factors":["References multiple professional bodies and their specific membership designations and post-nominals","Cross-references to specific paragraphs of the Corporations Act (708(8)(c) and 761G(7)(c))","Requires understanding of continuing professional education obligations and foreign qualification recognition"],"plain_english_summary":"This ASIC class order defines who counts as a \"qualified accountant\" under the Corporations Act, listing three Australian professional bodies (CPA Australia, Institute of Chartered Accountants in Australia, National Institute of Accountants/Institute of Public Accountants) subject to continuing professional education, plus members of seven named overseas institutes who must have three years’ practical experience and whose certificates to investors are limited to investors resident in the same country. It clarifies which memberships satisfy signing/certification requirements for fundraising and disclosure."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-01-1256","history":"/api/acts/asic-class-order-co-01-1256/history","analysis":"/api/acts/asic-class-order-co-01-1256/analysis","conflicts":"/api/acts/asic-class-order-co-01-1256/conflicts","importantCases":"/api/acts/asic-class-order-co-01-1256/important-cases","documents":"/api/acts/asic-class-order-co-01-1256/documents"}}