{"id":"F2008B00017","name":"ASIC Class Order [CO 99/463]","slug":"asic-class-order-co-99-463","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72133,"registerId":"commonwealth-F2008B00017-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 99/463]","content":"Australian Securities and Investments Commission  \nCorporations Law - Subsection 601QA(1) - Exemption and Declaration\n\n1.  Pursuant to paragraph 601QA(1)(a) of the Corporations Law (Law) the Australian Securities and Investments Commission (ASIC) hereby exempts the persons referred to in Schedule A in the case referred to in Schedule B for as long as and on condition that the condition set out in Schedule C is met from compliance with paragraph 601FC(1)(j) of the Law.\n\n2. Pursuant to paragraph 601QA(1)(b) of the Law ASIC hereby declares that Chapter 5C of the Law applies to each person referred to in Schedule A in the case referred to in Schedule B as if the words, \"in accordance with the conditions of any exemption under paragraph 601QA(1)(a) that exempts the responsible entity from paragraph 601FC(1)(j) or, if the responsible entity is not exempt under such an exemption,\" were inserted after the word \"valued\" in paragraph 601HA(1)(c) of the Law.\n\nSCHEDULE A\n\nResponsible entities of registered schemes.\n\nSCHEDULE B\n\nOperating a registered scheme that involves persons making available real property for use as part of a serviced apartment, hotel, motel or resort complex where members of the scheme have no right to be paid an amount that is related to the value of scheme property on their withdrawal from the scheme.\n\nSCHEDULE C\n\nThe responsible entity must ensure that each item of scheme property of the registered scheme is valued as soon as practicable after the responsible entity has reasonable grounds to believe that a valuation of that item is in the best interests of members or is needed to be fair to all members.\n\nDated this 29th day of April 1999\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":2461},"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"This instrument establishes a specific, narrow exemption for serviced accommodation schemes. It has not expanded beyond its original purpose of modifying valuation obligations for this particular class of registered scheme."},"complexity_factors":["Cross-references to three separate sections of the Corporations Law (sections 601QA, 601FC, and 601HA)","Conditional exemption requiring satisfaction of specific criteria in Schedule B (scheme type) and ongoing compliance with Schedule C (valuation trigger)","Declaratory provision that modifies the text of another legislative section via hypothetical insertion of words","Technical terms requiring external legal knowledge (e.g., 'responsible entity', 'registered scheme', 'paragraph 601FC(1)(j)')"],"plain_english_summary":"This Class Order exempts operators of registered managed investment schemes in serviced apartments, hotels, motels and resorts from the usual requirement to obtain regular property valuations where investors cannot withdraw based on property value.  \n\nInstead, valuations are required only when the operator reasonably believes they are necessary to protect members’ interests or ensure fair treatment—reducing costly, disruptive annual valuations while preserving investor safeguards."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-99-463","history":"/api/acts/asic-class-order-co-99-463/history","analysis":"/api/acts/asic-class-order-co-99-463/analysis","conflicts":"/api/acts/asic-class-order-co-99-463/conflicts","importantCases":"/api/acts/asic-class-order-co-99-463/important-cases","documents":"/api/acts/asic-class-order-co-99-463/documents"}}