{"id":"F2007B00672","name":"ASIC Class Order [CO 04/899]","slug":"asic-class-order-co-04-899","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62460,"registerId":"commonwealth-F2007B00672-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 04/899]","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 — Subsections 741(1) and 1020F(1) — Declaration\n\nUnder subsections 741(1) and 1020F(1) of the Corporations Act 2001 the Australian Securities and Investments Commission declares that Chapter 6D and Part 7.9 of the Act apply in relation to all persons as if the definition of senior manager in section 9 of the Act were modified or varied by omitting paragraph (a) and substituting:\n\n“(a) in relation to a body—means a person who is concerned in, or takes part in, the management of the body (regardless of the person’s designation and whether or not the person is a director or secretary of the body)”.\n\n \n\nDated this 19th day of July 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":2773},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This instrument performs the exact function described in its preamble—modifying the definition of senior manager for specific chapters of the Act. There is no indication of scope creep beyond the original regulatory intent."},"complexity_factors":["Single definition modification","No conditional logic or nested exceptions","Very short instrument (approximately 150 words)","Clear text substitution with no cross-references"],"plain_english_summary":"ASIC has expanded the definition of **senior manager** for rules about fundraising and financial products.\n\n**What it does:**\n- Changes who counts as a \"senior manager\" under Chapter 6D (fundraising) and Part 7.9 (financial product disclosure) of the Corporations Act\n- **New definition:** Anyone involved in managing a company, regardless of their job title or whether they are officially a director or secretary\n\n**Who it affects:**\n- Companies raising money from investors\n- Businesses offering financial products\n- People who manage these entities but may not have \"director\" or \"senior manager\" in their job title\n\n**Why it matters:**\nThis prevents companies from avoiding legal responsibilities by using creative job titles. If you actually help run the company, you're now legally considered a \"senior manager\" for fundraising and disclosure laws—even if your business card says \"Consultant\" or \"Advisor.\""}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-04-899","history":"/api/acts/asic-class-order-co-04-899/history","analysis":"/api/acts/asic-class-order-co-04-899/analysis","conflicts":"/api/acts/asic-class-order-co-04-899/conflicts","importantCases":"/api/acts/asic-class-order-co-04-899/important-cases","documents":"/api/acts/asic-class-order-co-04-899/documents"}}