{"id":"F2007B00422","name":"ASIC Class Order [CO 03/826]","slug":"asic-class-order-co-03-826","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62261,"registerId":"commonwealth-F2007B00422-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 03/826]","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: Australian Securities and Investments Commission\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\nAustralian Securities and Investments Commission  Corporations Act 2001 — Paragraph 992B(1)(a) — Exemption\n\n \n\n1. Under paragraph 992B(1)(a) of the Corporations Act 2001 (the Act), the Australian Securities and Investments Commission exempts a holder of an Australian financial services licence from Regulation 7.8.19 of the Corporations Regulations 2001 in relation to each instruction to deal in financial products received by the holder to which both of the following apply:\n\n \n\n(a) the instruction is from or on behalf of a wholesale client who is not in this jurisdiction; and\n\n \n\n(b) the instruction is for a dealing through a financial market that is not operated in this jurisdiction.\n\nInterpretation\n\n \n\n2. In this instrument, wholesale client has the meaning given by section 761G of the Act.\n\n \n\nDated this 26th day of September 2003\n\n \n\n \n\n \n\n \n\nSigned by Stephen Yen, PSM  as a delegate of the Australian Securities and Investments Commission\n\n \n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1846},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This remains a narrow, targeted exemption for cross-border wholesale financial dealings, consistent with its original purpose of reducing regulatory burden for offshore market transactions."},"complexity_factors":["Single defined term ('wholesale client') referencing external legislation (Corporations Act section 761G)","Simple two-part jurisdictional test requiring both client and market to be offshore","Only 2 operative sections with no nested exceptions or cross-references","Straightforward exemption structure common in ASIC class orders"],"plain_english_summary":"This instrument exempts Australian financial services licence holders from the requirement in Regulation 7.8.19 to provide specific confirmation documents when handling buy/sell instructions for certain overseas trades. It applies where the client is a wholesale investor located outside Australia and the transaction occurs on a financial market operated outside Australia. It reduces paperwork and regulatory duplication for cross‑border dealings with large, sophisticated investors."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-03-826","history":"/api/acts/asic-class-order-co-03-826/history","analysis":"/api/acts/asic-class-order-co-03-826/analysis","conflicts":"/api/acts/asic-class-order-co-03-826/conflicts","importantCases":"/api/acts/asic-class-order-co-03-826/important-cases","documents":"/api/acts/asic-class-order-co-03-826/documents"}}