{"id":"F2007B00292","name":"ASIC Class Order [CO 02/0149]","slug":"asic-class-order-co-02-0149","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62015,"registerId":"commonwealth-F2007B00292-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 02/0149]","content":"Australian Securities and Investments Commission  \nCorporations Act 2001 — Paragraph 1020F(1)(a) — Exemption\n\nUnder paragraph 1020F(1)(a) of the Corporations Act 2001 (the “Act”) the Australian Securities and Investments Commission hereby exempts each responsible entity of a registered scheme from sections 1012B, 1012C and 1016A of the Act in the case specified in Schedule A on the condition specified in Schedule B.\n\nSCHEDULE A\n\nThe issue or sale of interests in a registered scheme to applicants, otherwise than in response to an application form which was included in or accompanied by a Product Disclosure Statement for the scheme, where the responsible entity reasonably believes the application relates to:\n\n(a) an investment statement as defined in the Securities Act (NZ) 1978 and the Securities Regulations (NZ) 1983 as modified or varied by the Securities Act (Australian Registered Managed Investment Schemes) Exemption Notice 1999 (or such other exemption notice that from time to time may replace, modify or vary that Notice) (“NZ securities provisions”); and\n\n(b) an offer made in New Zealand.\n\nSCHEDULE B\n\nThis exemption applies for so long as and on condition that the responsible entity does not issue or permit the issue of a notice or other document in New Zealand relating to the interests if it does not comply with the NZ securities provisions.\n\nCommencement\n\nThis exemption takes effect on the commencement of Schedule 1 to the Financial Services Reform Act 2001.\n\nDated the 7th day of February 2002\n\nSigned by Brendan Byrne  \nas a delegate of the Australian Securities and Investments Commission","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2058},"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The exemption maintains its original narrow purpose of facilitating cross-border offers to New Zealand investors under mutual recognition arrangements. The reference to future replacement notices for NZ law is a standard dynamic reference provision, not an expansion of scope."},"complexity_factors":["Cross-references to three separate New Zealand legislative instruments (Securities Act 1978, Securities Regulations 1983, and the 1999 Exemption Notice)","Subjective 'reasonably believes' test for responsible entities determining whether an offer falls under NZ law","Ongoing compliance condition rather than a one-time exemption—breach of NZ law voids the exemption immediately","Exemption from multiple specific Corporations Act sections (1012B, 1012C, 1016A) without explanation of what those sections require"],"plain_english_summary":"This rule lets Australian managed investment funds skip certain Australian paperwork when selling units to investors in New Zealand: instead of an Australian Product Disclosure Statement and issue procedures, the fund can rely on New Zealand’s equivalent investment statements where the responsible entity reasonably believes the offer is made under NZ law. It requires ongoing compliance with NZ securities rules and removes the exemption if those NZ disclosure obligations are breached, reducing duplicate compliance for cross‑Tasman fundraising."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-02-0149","history":"/api/acts/asic-class-order-co-02-0149/history","analysis":"/api/acts/asic-class-order-co-02-0149/analysis","conflicts":"/api/acts/asic-class-order-co-02-0149/conflicts","importantCases":"/api/acts/asic-class-order-co-02-0149/important-cases","documents":"/api/acts/asic-class-order-co-02-0149/documents"}}