{"id":"F2012L00987","name":"ASIC Class Order [CO 12/418]","slug":"asic-class-order-co-12-418","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":89333,"registerId":"commonwealth-F2012L00987-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 12/418]","content":"Australian Securities and Investments Commission\n\nCorporations Act 2001 — Paragraph 951B(1)(c) — Declaration\n\nEnabling legislation\n\n1. The Australian Securities and Investments Commission makes this instrument under paragraph 951B(1)(c) of the Corporations Act 2001 (the Act).\n\nTitle\n\n2. This instrument is ASIC Class Order \\[CO 12/418\\].\n\nCommencement\n\n3. This instrument is taken to commence immediately after the last lodgment day for ASIC Class Order \\[CO 04/1055\\].\n\nDeclaration\n\n4. ASIC makes the declaration set out in ASIC Class Order \\[CO 04/1055\\] as in force on the last lodgment day for that instrument.\n\n5. Paragraph 4 ceases to have effect immediately before the commencement of ASIC Class Order \\[CO 12/417\\].\n\nInterpretation\n\n6. In this instrument, last lodgment day means, in relation to an instrument, the last day for lodging the instrument as originally made for registration under Division 3 of Part 4 of the Legislative Instruments Act 2003.\n\nDated this 26th day of April 2012\n\nSigned by Stephen Yen PSM\n\nas a delegate of the Australian Securities and Investments Commission","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2313},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly its intended function as a temporary regulatory bridge. It was designed specifically to maintain continuity between CO 04/1055 and CO 12/417 without expanding into new regulatory territory."},"complexity_factors":["Extremely short (only 6 operative paragraphs)","Single defined term ('last lodgment day')","Incorporates by reference the full content of another instrument (CO 04/1055)","Transitional mechanism with automatic cessation triggered by commencement of a third instrument (CO 12/417)","No conditional logic, exceptions, or substantive regulatory provisions"],"plain_english_summary":"This instrument acts as a temporary \"bridge\" to prevent a gap in financial regulation.\n\n**What it does:**\n- **Temporarily reinstates** the declaration from an older ASIC instrument (CO 04/1055), freezing it exactly as it stood on the final day it could be legally registered\n- **Maintains continuity** until a replacement instrument (CO 12/417) commences\n- **Automatic cutoff**: The declaration stops having effect immediately before CO 12/417 starts\n\n**Why it matters:**\nWithout this stop-gap, businesses relying on the permissions or exemptions in CO 04/1055 would have been left in a regulatory \"black hole\" between the old rules ending and the new rules beginning. This ensures seamless coverage.\n\n**Key term explained:**\n- **Last lodgment day**: The final deadline for registering the original instrument under the *Legislative Instruments Act 2003*."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-12-418","history":"/api/acts/asic-class-order-co-12-418/history","analysis":"/api/acts/asic-class-order-co-12-418/analysis","conflicts":"/api/acts/asic-class-order-co-12-418/conflicts","importantCases":"/api/acts/asic-class-order-co-12-418/important-cases","documents":"/api/acts/asic-class-order-co-12-418/documents"}}