{"id":"F2008B00012","name":"ASIC Class Order [CO 02/803]","slug":"asic-class-order-co-02-803","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":71933,"registerId":"commonwealth-F2008B00012-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 02/803]","content":"Australian Securities and Investments Commission  \nCorporations Act 2001 — Paragraph 911A(2)(l) — Exemption\n\nPursuant to paragraph 911A(2)(l) of the Corporations Act 2001 (the \"Act\") the Australian Securities and Investments Commission hereby specifies that until 11 March 2004 the provision of a financial service is covered by an exemption from the requirement to hold an Australian financial services licence if that financial service is provided in the following circumstances:\n\n(i) a person (person 1) is a person that is not in this jurisdiction;\n\n(ii) person 1 arranges, on behalf of another person (person 2), for the holder of a dealers licence within the meaning of the old Corporations Act or the holder of a futures brokers licence within the meaning of the old Corporations Act (person 3) to deal in a financial product that such licence (as in force immediately before the FSR commencement) authorised person 3 to deal in;\n\n(iii) the dealing by person 3 is within the scope of their regulated activities and occurs within their transition period;\n\n(iv) person 1 believes on reasonable grounds that person 2 is not in this jurisdiction.\n\nInterpretation\n\nIn this instrument:\n\n1. \"FSR commencement\" and \"old Corporations Act\" have the same meanings as in subsection 1410(1) of the Act; and\n\n2. \"regulated activities\" has the same meaning as in section 1430 of the Act; and\n\n3. \"transition period\" has the same meaning as in subsection 1431(1) of the Act.\n\nNote: In this instrument \"this jurisdiction\" is intended to mean Australia: see the Act at section 5 and section 9 (definition of \"this jurisdiction\").\n\nDated the 17th day of July 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":3833},"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"This is the original 2002 instrument creating a temporary transitional exemption. No deviation from original intent is evident; it was always designed as a time-limited measure for the FSR transition period."},"complexity_factors":["Three-party relational structure with interdependent conditions","Transitional legislative references (old Corporations Act, FSR commencement)","Cross-references to multiple external statutory definitions (sections 1410, 1430, 1431)","Time-bound sunset provision creating temporary regulatory relief"],"plain_english_summary":"This Class Order temporarily exempts certain cross‑border broking arrangements from Australia’s AFSL requirement during the transition to the post‑2001 licensing regime. It covers a three‑party scenario: an offshore arranger and offshore client, and an Australian broker moving from the old dealer/futures licences to the new AFSL.\n\nThe exemption applies where the arranger places business through the transitioning broker, the broker stays within authorised transitional activities, and the arranger reasonably believes the client is offshore — preserving continuity during regulatory reform."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-02-803","history":"/api/acts/asic-class-order-co-02-803/history","analysis":"/api/acts/asic-class-order-co-02-803/analysis","conflicts":"/api/acts/asic-class-order-co-02-803/conflicts","importantCases":"/api/acts/asic-class-order-co-02-803/important-cases","documents":"/api/acts/asic-class-order-co-02-803/documents"}}