{"id":"F2007B01000","name":"ASIC Class Order [CO 98/1808]","slug":"asic-class-order-co-98-1808","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":62463,"registerId":"commonwealth-F2007B01000-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 98/1808]","content":"Australian Securities and Investments Commission\n\nCorporations Law Paragraph 601QA(1)(b) – Declaration\n\nPursuant to paragraph 601QA(1)(b) of the Corporations Law (the Law) the Australian Securities and Investments Commission hereby declares that Chapter 5C of the Law applies to a responsible entity of a registered scheme and to the members of a registered scheme as if section 601GB were modified or varied by numbering the section as subsection (1) and inserting a new subsection (2) as follows:\n\n\"The constitution of a registered scheme may contain a provision to the effect of Appendix 15A of the listing rules of the Exchange as in force on 1 July 1998. For the purposes of this Part, the text of the constitution from time to time is to be taken to be as required by a provision to the effect of Appendix 15A if that provision is included in the constitution. A change in the text of the constitution because of that provision is not a modification of, or the repeal and replacement of, the constitution for the purposes of subsections 601GC(1) and (2).\"\n\nDated this 2nd day of October 1998\n\nSigned by Brendan Byrne\n\nas delegate of the Australian Securities and Investments Commission","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1802},"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This is the original 1998 Class Order. It maintains a narrow, targeted scope focused solely on exempting Appendix 15A-related constitution changes from member approval requirements. No expansion beyond original intent is evident."},"complexity_factors":["Incorporation by reference to external regulatory instrument (ASX Listing Rules Appendix 15A as at 1 July 1998)","Deeming provision creating legal fiction (constitution text 'taken to be as required')","Nested cross-references to sections 601GB and 601GC of the Corporations Law","Temporal limitation fixing external rules to a specific historical version"],"plain_english_summary":"This Class Order affects **managed investment schemes** (pooled funds like property trusts or infrastructure funds).\n\nNormally, if the operator of a scheme wants to change its governing rules (the **constitution**), they must get approval from investors. This protects members from unilateral rule changes by the responsible entity (the operator).\n\nHowever, this Class Order creates a specific exception. It allows scheme constitutions to include provisions matching **Appendix 15A of the ASX Listing Rules** (as they stood in July 1998). These rules typically govern how investors can sell their units back to the scheme (withdrawal or buy-back mechanisms).\n\n**The key effect:** If a constitution includes these Appendix 15A rules, then any changes made under those specific provisions **do not count as constitution changes** requiring member approval. This streamlines operations for listed schemes, allowing them to conduct routine buy-backs or withdrawal offers without holding a vote each time."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-98-1808","history":"/api/acts/asic-class-order-co-98-1808/history","analysis":"/api/acts/asic-class-order-co-98-1808/analysis","conflicts":"/api/acts/asic-class-order-co-98-1808/conflicts","importantCases":"/api/acts/asic-class-order-co-98-1808/important-cases","documents":"/api/acts/asic-class-order-co-98-1808/documents"}}