{"id":"F2009L04606","name":"ASIC Class Order [CO 09/1063]","slug":"asic-class-order-co-09-1063","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":82484,"registerId":"commonwealth-F2009L04606-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 09/1063]","content":"Australian Securities and Investments Commission  \nCorporations Act 2001 — Paragraphs 1020F(1)(a) and (c) —  \nRevocation and Variation\n\nEnabling legislation\n\n1. The Australian Securities and Investments Commission makes this instrument under paragraphs 1020F(1)(a) and (c) of the Corporations Act 2001.\n\nTitle\n\n2. This instrument is ASIC Class Order \\[CO 09/1063\\].\n\nCommencement\n\n3. This instrument commences on the later of:\n\n(a) the date it is registered under the Legislative Instruments Act 2003; and\n\n(b) the commencement of Schedule 3 to the Corporations Amendment (Short Selling) Act 2008.\n\nNote: An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register). The FRLI may be accessed at [http://www.frli.gov.au/](http://www.frli.gov.au/).\n\nRevocation\n\n4. ASIC Class Order \\[CO 08/751\\] is revoked.\n\nVariation\n\n5. ASIC Class Order \\[CO 08/764\\] is varied by omitting paragraphs 5 to 9 (including all headings and subheadings).\n\nDated this 8th day of December 2009\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":2048},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument performs a narrow housekeeping function exactly as described, merely removing outdated provisions to align with new short selling legislation. It does not expand regulatory scope beyond the technical amendment of existing instruments."},"complexity_factors":["Only 5 operative provisions total","Simple mechanical operations (revocation and paragraph deletion)","No defined terms requiring interpretation","Single cross-reference to enabling legislation (Corporations Act)","Limited conditional logic (only commencement trigger)"],"plain_english_summary":"**What this does:**\nThis instrument tidies up Australia's financial disclosure rules by removing outdated regulatory documents that governed **short selling** (when investors sell shares they don't own, borrowing them first to bet on price falls).\n\n**Specific changes:**\n- **Revokes** (cancels entirely) the previous Class Order [CO 08/751]\n- **Varies** (amends) Class Order [CO 08/764] by deleting paragraphs 5 through 9\n\n**Why it matters:**\nWhen the *Corporations Amendment (Short Selling) Act 2008* introduced new disclosure requirements for short selling, the old rules needed cleaning up to prevent overlap and confusion. This instrument removed those superseded provisions, ensuring stockbrokers and institutional investors had one clear set of disclosure obligations rather than conflicting old and new rules.\n\n**Who is affected:**\nFinancial services firms, stockbrokers, and fund managers who engage in short selling transactions, as this affects which exemptions and reporting requirements apply to their trading activities."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-09-1063","history":"/api/acts/asic-class-order-co-09-1063/history","analysis":"/api/acts/asic-class-order-co-09-1063/analysis","conflicts":"/api/acts/asic-class-order-co-09-1063/conflicts","importantCases":"/api/acts/asic-class-order-co-09-1063/important-cases","documents":"/api/acts/asic-class-order-co-09-1063/documents"}}