{"id":"F2007B00635","name":"ASIC Class Order [CO 02/437]","slug":"asic-class-order-co-02-437","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62429,"registerId":"commonwealth-F2007B00635-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 02/437]","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n# Australian Securities and Investments Commission\n\nCorporations Act 2001- Subsection 1020F(l) - Exemption\n\n \n\n \n\nUnder subsection 1020F(l) of the Corporations Act 2001 the Australian Securities and Investments Commission hereby exempts the responsible entity of a registered scheme from paragraph 1016A(2)(a) of that Act, to the extent that it prohibits the issue of a managed investment product to which the scheme relates unless the application form for that managed investment product requires the applicant's date of birth, on the condition that that form requires an applicant who is a natural person to state that he or she is at least 18 years of age.\n\n \n\n## Dated this 11th day of April 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","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2382},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument maintains its original narrow scope as a targeted exemption from specific application form requirements for managed investment products."},"complexity_factors":["Single operative exemption with one straightforward condition","No defined terms or interpretation section","Only two specific Corporations Act section references","Substantive content contained in one paragraph","No nested exceptions, subordinate legislation, or conditional layers"],"plain_english_summary":"This order gives **managed investment schemes** (like property trusts or investment funds) flexibility with their application forms.\n\nNormally, the law requires these schemes to collect an applicant's **date of birth** when they apply to buy units. This exemption allows the **responsible entity** (the company running the scheme) to skip collecting the date of birth, provided the form instead requires the applicant to declare they are at least 18 years old.\n\n**Who it affects:**\n- **Responsible entities** of registered managed investment schemes\n- **Investors** applying to buy interests in these schemes\n\n**Why it matters:**\nIt allows simpler application processes while ensuring schemes only contract with adults who have legal capacity. The responsible entity can rely on an age declaration rather than verifying birth dates."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-02-437","history":"/api/acts/asic-class-order-co-02-437/history","analysis":"/api/acts/asic-class-order-co-02-437/analysis","conflicts":"/api/acts/asic-class-order-co-02-437/conflicts","importantCases":"/api/acts/asic-class-order-co-02-437/important-cases","documents":"/api/acts/asic-class-order-co-02-437/documents"}}