{"id":"F2007B00407","name":"ASIC Class Order [CO 03/635]","slug":"asic-class-order-co-03-635","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62239,"registerId":"commonwealth-F2007B00407-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 03/635]","content":"Australian Securities and Investments Commission  \nCorporations Act 2001 — Paragraph 655A(1)(a) — Exemption\n\nUnder paragraph 655A(1)(a) of the Corporations Act 2001 (the “Act”) the Australian Securities and Investments Commission exempts bidders and targets from subsections 636(3) and 638(5) of the Act in relation to a bidder’s or target’s statement that includes or is accompanied by a statement that:\n\n1. fairly represents a statement by an official person; or\n\n2. is a correct and fair copy of, or extract from:\n\n(a) a public official document; or\n\n(b) a statement that has already been published in a book, journal or comparable publication;\n\nwhere the statement was not made, or the document was not published, in connection with the takeover bid or the bidder or target or any business, property or person the subject of the bidder’s or target’s statement.\n\nDated this 22nd day of September 2003\n\nSigned by Stephen Yen, PSM  \nas a delegate of the Australian Securities and Investments Commission","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2460},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This is the original 2003 instrument and maintains its original limited scope of providing relief from specific disclosure requirements only when including pre-existing public information in takeover documents."},"complexity_factors":["References to multiple sections of the Corporations Act 2001 (ss 655A(1)(a), 636(3), and 638(5))","Conditional exemption requiring verification of both the source type and the purpose of the original statement","Use of defined terms such as \"official person\" and \"public official document\" (defined in the Act)"],"plain_english_summary":"This ASIC Class Order lets bidders and targets in takeover bids include fair quotes from public officials and accurate extracts or copies of public official documents or published articles in their bidder’s or target’s statements without triggering extra formal disclosure obligations. It applies only where those materials weren’t created for the bid and aren’t about the bidder, target, or their businesses. The relief reduces liability and burden for reusing already-public, official information in takeover documents."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-03-635","history":"/api/acts/asic-class-order-co-03-635/history","analysis":"/api/acts/asic-class-order-co-03-635/analysis","conflicts":"/api/acts/asic-class-order-co-03-635/conflicts","importantCases":"/api/acts/asic-class-order-co-03-635/important-cases","documents":"/api/acts/asic-class-order-co-03-635/documents"}}