{"id":"F2019L01115","name":"ASIC Corporations (Amendment and Repeal) Instrument 2019/548","slug":"asic-corporations-amendment-and-repeal-instrument-2019-548","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":440213,"registerId":"F2019L01115-fast-fetch-1775955926188","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Amendment and Repeal) Instrument 2019/548","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 22.10.0\ntitle: ASIC Template (Amending or Repealing Legislative Instruments - Jan 2019)\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations (Amendment and Repeal) Instrument 2019/548\n\nI, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate 26 August 2019\n\n \n\n \n\n \n\nGrant Moodie\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc17704194)\n\n[1 Name of legislative instrument](#_Toc17704195)\n\n[2 Commencement](#_Toc17704196)\n\n[3 Authority](#_Toc17704197)\n\n[4 Schedules](#_Toc17704198)\n\n[5 Repeal of amending and repealing instruments](#_Toc17704199)\n\n[Schedule 1—Amendments](#_Toc17704200)\n\n[ASIC Class Order [CO 13/655]](#_Toc17704201)\n\n[ASIC Class Order [CO 13/656]](#_Toc17704202)\n\n[ASIC Corporations (Amendment and Repeal) Instrument 2015/843](#_Toc17704203)\n\n[ASIC Corporations (Managed investment product consideration) Instrument 2015/847](#_Toc17704204)\n\n[ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73](#_Toc17704205)\n\n[ASIC Corporations (Sale Offers That Do Not Need Disclosure) Instrument 2016/80](#_Toc17704206)\n\n[Schedule 2—Repeals](#_Toc17704207)\n\n[ASIC Class Order [CO 09/425]](#_Toc17704208)\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Amendment and Repeal) Instrument 2019/548.\n\n2 Commencement\n\nThis instrument commences on the day after 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 subsections 601QA(1), 741(1) and 1020F(1) of the Corporations Act 2001.\n\n4 Schedules\n\nEach instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned.\n\n5 Repeal of amending and repealing instruments\n\n(1) The repeal of an instrument by section 4 does not affect any amendment to or repeal of another instrument (however described) made by the instrument.\n\n(2) Subsection (1) does not limit the effect of section 7 of the Acts Interpretation Act 1901 as it applies to the repeal of an instrument by section 4 of this instrument.\n\nSchedule 1—Amendments\n\nASIC Class Order [CO 13/655]\n\n1 Subparagraph 4(b) (notional subsection 601GAD(4))\n\nOmit “ASIC Class Order [CO 09/425].”, substitute “ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547.”\n\nASIC Class Order [CO 13/656]\n\n2 Subparagraph 4(d)\n\nOmit “ASIC Class Order [CO 09/425].”, substitute “ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547.”\n\nASIC Corporations (Amendment and Repeal) Instrument 2015/843\n\n3 Schedule 1 (item 4)\n\nOmit the item (including the heading)\n\nASIC Corporations (Managed investment product consideration) Instrument 2015/847\n\n4 Subparagraph 5(b) (notional subsection 601GAA(4))\n\nOmit “ASIC Class Order [CO 09/425].”, substitute “ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547.”\n\nASIC Corporations (Disregarding Technical Relief) Instrument 2016/73\n\n5 Subparagraph 5(a) (definition of technical relief instrument)\n\nIn the table, omit the entire row for item 12, substitute:\n\n \n\n| 12. | ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 | ASIC Class Order [CO 09/425] (as in force as at the day immediately before the day the class order was repealed) |\n| --- | --- | --- |\n\n\nASIC Corporations (Sale Offers That Do Not Need Disclosure) Instrument 2016/80\n\n6 Subsection 5(4) (Category 1: Share or interest purchase plans)\n\nOmit paragraph (a) and (b), substitute:\n\n(a) ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547;\n\n(b) ASIC Class Order [CO 09/425] (as in force as at the day immediately before the day the class order was repealed);\n\n(c) an individual instrument made by ASIC which provided relief from Part 6D.2 or Part 7.9 of the Act with respect to a share purchase plan, interest purchase plan or a like plan in terms similar to those legislative instruments.\n\nSchedule 2—Repeals\n\nASIC Class Order [CO 09/425]\n\n1 The whole of the instrument\n\nRepeal the instrument.\n","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The legislation remains strictly limited to its original purpose: updating cross-references and repealing a superseded instrument. There is no scope creep — it does exactly what it says on the tin."},"complexity_factors":["Short document (approximately 2 pages of substantive content)","Only 6 amendment items across 2 schedules","No defined terms section — relies on external references to the Corporations Act 2001","Simple substitution pattern: find-and-replace of instrument references","One minor conditional provision in section 5 (saving provision for repeal effects)","No nested exceptions or complex conditional logic","Heavy reliance on external knowledge (the content of [CO 09/425] and the new 2019/547 instrument is not reproduced here)"],"plain_english_summary":"This ASIC housekeeping instrument repeals the old Class Order CO 09/425 and updates other ASIC instruments to refer instead to the new ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547. It affects companies and managed investment schemes running share or interest purchase plans and anyone relying on the old class order. This is a machinery change—no substantive policy shift, just modernising and correcting legal references."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The instrument redirects and consolidates references to a new instrument and repeals the old class order but does not, on its face, create new categories of regulation or broaden relief. It preserves past amendments and the prior class order’s effect where specified (s5; Schedule 1, item 5’s \"as in force\" wording), so the practical scope of relief is intended to remain consistent while administrative references change."},"complexity_factors":["Multiple interdependent instrument amendments and a repeal across Schedules 1–2 (Schedules 1–2)","Substitution of statutory references between instruments rather than creation of new policy (Schedule 1 amendments)","Explicit preservation of previous instrument text/effect via \"as in force as at the day immediately before\" wording (Schedule 1, item 5)","Commencement timing is immediate (day after registration) requiring prompt compliance (s2)","Authority draws on multiple Corporations Act heads of power (ss601QA(1), 741(1), 1020F(1)) (s3)","Technical drafting elements such as notional subsection references and table row substitutions (Schedule 1, items 1–6)","Potential downstream impact on other instruments that previously referenced the repealed class order (Schedule 1 amendments)","Reliance on Acts Interpretation Act 1901 for repeal effects, creating interpretive linkage (s5(2))"],"plain_english_summary":"This instrument updates ASIC’s regulatory references for share and interest purchase plans by substituting a new legislative instrument (ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547) for an earlier class order (CO 09/425) and repealing that class order. It commences the day after registration (s2; Schedules 1–2).\n\nASIC (under ss601QA(1), 741(1) and 1020F(1)) makes the change; affected issuers, advisers and other users of share/interest purchase plan relief must rely on the new instrument or preserved prior versions. Compliance and administrative effort shifts to those entities to update references and confirm continued relief (s5; Schedule 1)."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-amendment-and-repeal-instrument-2019-548","history":"/api/acts/asic-corporations-amendment-and-repeal-instrument-2019-548/history","analysis":"/api/acts/asic-corporations-amendment-and-repeal-instrument-2019-548/analysis","conflicts":"/api/acts/asic-corporations-amendment-and-repeal-instrument-2019-548/conflicts","importantCases":"/api/acts/asic-corporations-amendment-and-repeal-instrument-2019-548/important-cases","documents":"/api/acts/asic-corporations-amendment-and-repeal-instrument-2019-548/documents"}}