{"id":"F2008B00013","name":"ASIC Class Order [CO 02/930]","slug":"asic-class-order-co-02-930","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":71937,"registerId":"commonwealth-F2008B00013-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Schedule A","sectionType":"part","heading":"Schedule A","content":"# Schedule A\n\nEach company (each a \"PDF\") which satisfies both of the following:\n\n1. a registration declaration has been made in relation to it under section 14 of the Pooled Development Funds Act 1992 (Cth) and is in force; and\n\n2. it has entered into an enforceable contract with a licensee for the purpose of administering its investments under which it obtains financial product advice from the licensee prior to it making any decision in relation to a particular financial product or class of financial products or an interest in a particular financial product or class of financial products.","sortOrder":0},{"sectionNumber":"Schedule B","sectionType":"part","heading":"Schedule B","content":"# Schedule B\n\n1. Any financial service that is provided by the PDF making an offer to issue securities of that PDF where the offer satisfies all of the following:\n\n(a) it is made during the period from 17th August 2002 to 17 August 2003;\n\n(b) it is made to a wholesale client within the meaning of subsection 761G(4) of the Act; and\n\n(c) it is made under an offer document that does not contain any personal advice as defined in subsection 766B(3) of the Act.\n\n2. Any issue of securities by the PDF which occurs as a result of the acceptance of an offer of the kind referred to in paragraph 1.\n\nInterpretation\n\nFor the purposes of this instrument \"licensee\" means:\n\n1. a person who holds an Australian financial services licence which authorises it to give financial product advice; or","sortOrder":1}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":3210},"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The instrument maintains its original narrow scope as a time-limited, conditional exemption for PDF fundraising activities directed exclusively at wholesale clients. There is no evidence of scope expansion beyond the specific licensing relief originally intended for this class of funds."},"complexity_factors":["Strict temporal limitation restricting operation to a specific 12-month window (August 2002–2003)","Multiple external legislative cross-references (Pooled Development Funds Act 1992, Corporations Act ss 761G and 766B)","Conjunctive conditions requiring simultaneous satisfaction (registration declaration + advisory contract + wholesale client status + exclusion of personal advice)","Definition of 'licensee' references the Australian Financial Services Licence regime"],"plain_english_summary":"This ASIC class order let certain Pooled Development Funds (registered under the Pooled Development Funds Act 1992) bypass full financial services licensing when making wholesale offers to sophisticated investors, provided a licensed adviser gave product advice before any investment decision. It applied only from 17 August 2002 to 17 August 2003, covered issuance of resulting shares, and prohibited personalised (personal) advice in the offer document."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-02-930","history":"/api/acts/asic-class-order-co-02-930/history","analysis":"/api/acts/asic-class-order-co-02-930/analysis","conflicts":"/api/acts/asic-class-order-co-02-930/conflicts","importantCases":"/api/acts/asic-class-order-co-02-930/important-cases","documents":"/api/acts/asic-class-order-co-02-930/documents"}}