{"id":"F2007B00379","name":"ASIC Class Order [CO 04/1063]","slug":"asic-class-order-co-04-1063","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62166,"registerId":"commonwealth-F2007B00379-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 04/1063]","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)(c) — Declaration\n\nUnder paragraph 992B(1)(c) of the Corporations Act 2001 (the Act) the Australian Securities and Investments Commission declares that Part 7.8 of the Act applies in relation to a financial services licensee as if section 981B of the Act were modified or varied by adding after subparagraph (1)(a)(i):\n\n“(ia) with an authorised trustee corporation and relates to an interest in a registered scheme operated by that corporation of the kind commonly known as a cash common fund; or”.\n\nDated this 27th day of August 2004\n\n \n\n \n\nSigned by Brendan Byrne  as a delegate of the Australian Securities and Investments Commission\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1265},"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This is the original 2004 declaration. The scope remains tightly focused on the specific modification to section 981B regarding deposit of client money with authorised trustee corporations for cash common funds."},"complexity_factors":["Single targeted amendment requiring knowledge of underlying Part 7.8 (Client Money) provisions to understand full effect","Modification by reference (inserting text into existing section 981B without reproducing full context)","Technical defined terms require external knowledge: 'authorised trustee corporation', 'registered scheme', 'cash common fund'"],"plain_english_summary":"This order changes where **financial services licensees** (people like stockbrokers and advisers) can hold **client money** (cash that belongs to their clients).\n\nNormally, the law requires client money to be held in a bank. This order creates an extra option: licensees can deposit the money with an **authorised trustee corporation** (a specially approved type of company that manages investments), but only if:\n\n* The money is being used to buy an interest in a specific type of investment fund operated by that corporation; and  \n* That fund is what's commonly known as a **cash common fund** (a pooled cash management scheme, similar to a high-interest cash account).\n\n**Why this matters**: It allows licensees to pool client cash into these cash common funds as an alternative to standard bank deposits, giving clients potentially better interest rates while maintaining regulatory protections."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-04-1063","history":"/api/acts/asic-class-order-co-04-1063/history","analysis":"/api/acts/asic-class-order-co-04-1063/analysis","conflicts":"/api/acts/asic-class-order-co-04-1063/conflicts","importantCases":"/api/acts/asic-class-order-co-04-1063/important-cases","documents":"/api/acts/asic-class-order-co-04-1063/documents"}}