{"id":"F2007B00297","name":"ASIC Class Order [CO 02/1072]","slug":"asic-class-order-co-02-1072","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62025,"registerId":"commonwealth-F2007B00297-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 02/1072]","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: Australian Securities And Investments Commissions\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\nAustralian Securities and Investments Commission\n\nCorporations Act 2001 – Subsection 1020F(1) – Exemption\n\n \n\nUnder subsection 1020F(1) of the Corporations Act 2001 (“the Act”), the Australian Securities and Investments Commission hereby exempts an interest in a managed investment scheme from sections 1012A, 1012B and 1012C of the Act where an offer to issue, arrange for the issue of, or to sell, or an issue of, or a recommendation to acquire, the interest is made to a person who holds interests in the same class for which the person has paid at least $500,000.\n\n \n\n## Interpretation\n\n \n\nIn this instrument:\n\n \n\n### 1. “offer” has a meaning affected by subsection 1010C(2) of the Act; and\n\n \n\n2. in working out the amount paid for interests, disregard any amount to the extent it was paid out of money lent by the person offering the interests or any associate of that person.\n\n \n\n \n\nDated this 9th day of October 2002\n\n \n\n \n\n \n\n \n\nSigned by Brendan Byrne\n\nas a delegate of the Australian Securities and Investments Commission\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1181},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument maintains its original narrow scope: providing a targeted disclosure exemption for existing investors in managed investment schemes who meet the $500,000 threshold. No expansion beyond this specific purpose is evident."},"complexity_factors":["Single monetary threshold test ($500,000) with straightforward calculation","Only 2 interpretation provisions","Minimal cross-references (sections 1012A-C and 1010C(2))","No conditional exceptions or layered definitions","Document length is under one page"],"plain_english_summary":"This Class Order lets managed‑investment‑scheme operators skip giving a Product Disclosure Statement to existing investors who already hold at least $500,000 of their own money in the same scheme when buying additional units.  \n\nIt therefore affects those high‑balance investors and the operators making such offers, and bars counting loans from the operator or its associates toward the $500,000 threshold to prevent circumvention of disclosure rules."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-02-1072","history":"/api/acts/asic-class-order-co-02-1072/history","analysis":"/api/acts/asic-class-order-co-02-1072/analysis","conflicts":"/api/acts/asic-class-order-co-02-1072/conflicts","importantCases":"/api/acts/asic-class-order-co-02-1072/important-cases","documents":"/api/acts/asic-class-order-co-02-1072/documents"}}