{"id":"F2007B00648","name":"ASIC Class Order [CO 03/748]","slug":"asic-class-order-co-03-748","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62448,"registerId":"commonwealth-F2007B00648-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 03/748]","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: Under paragraph 992B(1)(a) of the Corporations Act 2001 (\"the Act\"), the Australian Securities and Investments Comission (\"ASI\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n \n\nAustralian Securities and Investments Commission\n\nCorporations Act 2001  -  Paragraph 992B(1)(b)  -  Exemption\n\n \n\nUnder paragraph 992B(1)(b) of the Corporations Act 2001 (\"the Act\"), the Australian Securities and Investments Commission hereby exempts each financial services licensee that is a natural person (\"the licensee\") from subsection 989B(1) of the Act to the extent that it requires the licensee to include in a profit and loss statement any revenues and expenses that do not relate to a financial services business carried on by the licensee.\n\n \n\n \n\nDated this 22nd day of August 2003\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":1654},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument provides narrow, targeted relief from specific accounting disclosure requirements. It remains strictly limited to its original purpose of protecting the personal financial privacy of natural person licensees while maintaining transparency for their actual financial services business."},"complexity_factors":["Single exemption clause contained in one sentence","Only two statutory cross-references (sections 992B(1)(b) and 989B(1))","No defined terms or interpretation section","No conditional triggers, exceptions, or nested provisions"],"plain_english_summary":"This rule exempts individual financial advisors (natural persons holding an Australian Financial Services Licence in their own name) from having to include unrelated personal income and expenses in their ASIC accounting statements. They must only report funds that flow through their actual advice business.\n\nIt protects sole-trader advisors’ privacy by preventing disclosure of personal financial details while preserving transparency over their business finances."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-03-748","history":"/api/acts/asic-class-order-co-03-748/history","analysis":"/api/acts/asic-class-order-co-03-748/analysis","conflicts":"/api/acts/asic-class-order-co-03-748/conflicts","importantCases":"/api/acts/asic-class-order-co-03-748/important-cases","documents":"/api/acts/asic-class-order-co-03-748/documents"}}