{"id":"F2008B00019","name":"ASIC Class Order [CO 98/60]","slug":"asic-class-order-co-98-60","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72138,"registerId":"commonwealth-F2008B00019-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 98/60]","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\nAustralian Securities and Investments Commission\n\n \n\nCorporations Law Paragraph 601QA(1)(b) Declaration\n\n \n\nPursuant to paragraph 601QA(1)(b) of the Corporations Law (\"Law\") the Australian Securities and Investments Commission hereby declares that Chapter 5C applies to each responsible entity as if the following words were added at the end of subsection 601GC(1) of the Law:\n\n \n\n\"If the constitution of a scheme sets out a procedure for varying or cancelling rights of a class of members of the scheme, or rights attached to a class of interests under the scheme, those rights may be varied or cancelled by a resolution under paragraph (a) only if that procedure is complied with.\"\n\n \n\nDated 10th day of July 1998\n\n \n\n \n\n \n\nSigned by George Durbridge\n\nas delegate of the Australian Securities and Investments Commission\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1630},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This is the original 1998 instrument. It maintains its original limited scope of adding procedural protections for class rights variations in managed investment schemes, without expansion into other areas of scheme governance."},"complexity_factors":["Single operative provision modifying only subsection 601GC(1)","No defined terms requiring interpretation within the instrument itself","Simple conditional logic: if constitutional procedure exists, it must be followed","No cross-references to other instruments or nested exceptions"],"plain_english_summary":"This order protects investors in managed investment schemes by requiring that any special procedure set out in a scheme's constitution for changing or cancelling class rights must be followed — a general or ordinary resolution cannot override those bespoke protections. It affects responsible entities and scheme members, ensuring negotiated rights for particular investor classes cannot be stripped away by a broader majority."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-98-60","history":"/api/acts/asic-class-order-co-98-60/history","analysis":"/api/acts/asic-class-order-co-98-60/analysis","conflicts":"/api/acts/asic-class-order-co-98-60/conflicts","importantCases":"/api/acts/asic-class-order-co-98-60/important-cases","documents":"/api/acts/asic-class-order-co-98-60/documents"}}