{"id":"F2017L00900","name":"ASIC Class Rule Waiver [CW 17/0583]","slug":"asic-class-rule-waiver-cw-17-0583","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439260,"registerId":"F2017L00900-fast-fetch-1775955351541","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Rule Waiver [CW 17/0583]","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\ntitle: ASIC Class Waiver 17-0583 - ASX Rules 2.3.3, 2.3.4 and 2.3.5\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.jpeg)\n\nASIC Class Rule Waiver [CW 17/0583]\n\nI, Kathleen Cuneo, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate  7 July  2017\n\n \n\nKathleen Cuneo\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc486329485)\n\n[1 Name of legislative instrument](#_Toc486329486)\n\n[2 Commencement](#_Toc486329487)\n\n[3 Authority](#_Toc486329488)\n\n[4 Definitions](#_Toc486329489)\n\n[Part 2—Waiver](#_Toc486329490)\n\n[5 Waiver from requirements relating to Responsible Executives.](#_Toc486329491)\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis instrument is ASIC Class Rule Waiver [17-0583].\n\n2 Commencement\n\nThis instrument commences on the day it is registered on the Federal Register of Legislation.\n\nNote: The register may be accessed at [www.legislation.gov.au](http://www.legislation.gov.au).\n\n3 Authority\n\nThis instrument is made under subrule 1.2.1(1) of the ASIC Market Integrity Rules (ASX Market) 2010.\n\n4 Definitions\n\nIn this instrument, unless the contrary intention appears, capitalised terms have the meaning given by the ASIC Market Integrity Rules (ASX Market) 2010.\n\n\nPart 2—Waiver\n\n5        Waiver from requirements relating to Responsible Executives.\n\n(1)   ASIC relieves a Market Participant from the obligation to comply with:\n\n(a)   subrule 2.3.3(1) of the Rules;\n\n(b)   Rule 2.3.4 of the Rules; and\n\n(c)   subrule 2.3.5(1) of the Rules. \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1563},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument maintains its original narrow purpose of waiving specific Responsible Executive requirements for Market Participants under the ASIC Market Integrity Rules."},"complexity_factors":["Cross-references to external rules (2.3.3, 2.3.4 and 2.3.5 of the ASIC Market Integrity Rules) without reproducing the text of the waived obligations","Single operative provision with straightforward conditional structure","Requires external knowledge of the Market Integrity Rules framework to assess full practical impact"],"plain_english_summary":"**What this does:** This instrument gives a specific group of financial firms (called \"Market Participants\") a legal exemption from three rules about \"Responsible Executives.\"\n\n**Who it affects:** Companies that trade on the Australian Securities Exchange (ASX) and are classified as Market Participants under the ASIC Market Integrity Rules (ASX Market) 2010.\n\n**Key details:**\n- **Responsible Executives** are senior managers who are personally accountable for ensuring their firm follows market integrity rules\n- This waiver relieves Market Participants from complying with:\n  - **Rule 2.3.3(1):** Requirements relating to the appointment or maintenance of Responsible Executives\n  - **Rule 2.3.4:** Obligations concerning the registration or notification of these executives\n  - **Rule 2.3.5(1):** Ongoing compliance or reporting duties regarding Responsible Executives\n\n**Why it matters:** This exemption allows affected firms to operate without meeting these specific regulatory requirements, though they remain bound by all other market integrity rules."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-rule-waiver-cw-17-0583","history":"/api/acts/asic-class-rule-waiver-cw-17-0583/history","analysis":"/api/acts/asic-class-rule-waiver-cw-17-0583/analysis","conflicts":"/api/acts/asic-class-rule-waiver-cw-17-0583/conflicts","importantCases":"/api/acts/asic-class-rule-waiver-cw-17-0583/important-cases","documents":"/api/acts/asic-class-rule-waiver-cw-17-0583/documents"}}