{"id":"F2017L00280","name":"ASIC Corporations (Capital Reductions and Reconstructions—Technical Disclosure Relief) Instrument 2017/242","slug":"asic-corporations-capital-reductions-and-reconstructions-technical-disclosure-relief-instrument-2017","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":95995,"registerId":"commonwealth-F2017L00280-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Capital Reductions and Reconstructions—Technical Disclosure Relief) Instrument 2017/242","content":"![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations (Capital Reductions and Reconstructions—Technical Disclosure Relief) Instrument 2017/242\n\nmade under subsection 1020F(1) of the Corporations Act 2001  \n\nCompilation No. 1\n\nCompilation date: 24/09/2025\n\nIncludes amendments: F2025L01152\n\nAbout this compilation\n\nThis compilation\n\nThis is a compilation of the ASIC Corporations (Capital Reductions and Reconstructions—Technical Disclosure Relief) Instrument 2017/242 that shows the text of the law as amended and in force on 24/09/2025 (the compilation date).\n\nThe notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.\n\nUncommenced amendments\n\nThe effect of uncommenced amendments is not shown in the text of the compiled law. The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. Any uncommenced amendments are accessible on the Register (www.legislation.gov.au).\n\nApplication, saving and transitional provisions\n\nIf the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.\n\nModifications\n\nIf the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. Any modifications affecting the law are accessible on the Register.\n\nSelf‑repealing provisions\n\nIf a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.\n\nContents\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\n3 Authority\n\n4 Definitions\n\nPart 2—Declaration\n\n5 Technical disclosure relief for capital reductions and reconstructions\n\nEndnotes\n\nEndnote 1—About the endnotes\n\nEndnote 2—Abbreviation key\n\nEndnote 3—Legislation history\n\nEndnote 4—Amendment history\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Capital Reductions and Reconstructions—Technical Disclosure Relief) Instrument 2017/242.\n\n3 Authority\n\nThis instrument is made under subsection 1020F(1) of the Corporations Act 2001.\n\n4 Definitions\n\nIn this instrument:\n\nAct means the Corporations Act 2001.\n\ncapital reduction offer means a Part 2J.1 capital reduction offer or a foreign capital reduction offer.\n\neligible reconstruction has the same meaning as in the ASIC Corporations (Application Form Requirements) Instrument 2017/241.\n\n    foreign capital reduction offer has the same meaning as in the ASIC Corporations (Application Form Requirements) Instrument 2017/241.\n\noffer has a meaning affected by sections 1010C and 1011C of the Act.\n\nPart 2J.1 capital reduction offer has the same meaning as in the ASIC Corporations (Application Form Requirements) Instrument 2017/241.\n\nPart 2—Declaration\n\n5 Technical disclosure relief for capital reductions and reconstructions\n\nPart 7.9 of the Act applies in relation to a financial product that is being offered under an eligible reconstruction or is the subject of a capital reduction offer as if Division 2 of that Part were modified or varied by:\n\n(a) omitting subsection 1013B(1); and\n\n(b) after 1015C(5), inserting:\n\n    “(6) For the purpose of subparagraph (1)(a)(ii) and for the avoidance of doubt, where a Statement is in or accompanies a notice of meeting of members of a company, foreign company or registered scheme, each member of the company or scheme is taken to have nominated the address shown in:\n      (a) in the case of a company or registered scheme—the register of members maintained by the company or responsible entity of the scheme under Chapter 2C; or\n      (b) in the case of a foreign company—the register of members (however described) kept by the company under the law of its place of origin.”.\n\n> Note: ASIC Corporations (Compromises or Arrangements) Instrument 2025/613 provides relief from the obligation to provide a Product Disclosure Statement for offers of financial products made under certain reconstructions not covered by this section.\n\nEndnotes\n\nEndnote 1—About the endnotes\n\n> Note: The endnotes provide information about this compilation and the compiled law.\n\n> Note: The following endnotes are included in every compilation:\n\n> Note: Endnote 1—About the endnotes\n\n> Note: Endnote 2—Abbreviation key\n\n> Note: Endnote 3—Legislation history\n\n> Note: Endnote 4—Amendment history\n\n> Note: Abbreviation key—Endnote 2\n\n> Note: The abbreviation key sets out abbreviations that may be used in the endnotes.\n\n> Note: Legislation history and amendment history—Endnotes 3 and 4\n\n> Note: Amending laws are annotated in the legislation history and amendment history.\n\n> Note: The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.\n\n> Note: The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.\n\n> Note: Misdescribed amendments\n\n> Note: A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.\n\n> Note: If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.\n\nEndnote 2—Abbreviation key\n\n| ad = added or inserted                         | orig = original                                              |\n| ---------------------------------------------- | ------------------------------------------------------------ |\n| am = amended                                   | p = page(s)                                                  |\n| amdt = amendment                               | para = paragraph(s)/subparagraph(s)                          |\n| C[x] = Compilation No. x                       | /sub‑subparagraph(s)                                         |\n| ch = Chapter(s)                                | pres = present                                               |\n| cl = clause(s)                                 | prev = previous                                              |\n| cont. = continued                              | (prev…) = previously                                         |\n| def = definition(s)                            | pt = Part(s)                                                 |\n| Dict = Dictionary                              | r = regulation(s)/Court rule(s)                              |\n| disallowed = disallowed by Parliament          | reloc = relocated                                            |\n| div = Division(s)                              | renum = renumbered                                           |\n| exp = expires/expired or ceases/ceased to have | rep = repealed                                               |\n| effect                                         | rs = repealed and substituted                                |\n| gaz = gazette                                  | s = section(s)/subsection(s)                                 |\n| LA = Legislation Act 2003                      | /rule(s)/subrule(s)/order(s)/suborder(s)                     |\n| LIA = Legislative Instruments Act 2003         | sch = Schedule(s)                                            |\n| (md not incorp) = misdescribed amendment       | SLI = Select Legislative Instrument                          |\n| cannot be given effect                         | SR = Statutory Rules                                         |\n| mod = modified/modification                    | sub ch = Sub‑Chapter(s)                                      |\n| No. = Number(s)                                | sub div = Subdivision(s)                                     |\n| Ord = Ordinance                                | sub pt = Subpart(s)                                          |\n|                                                | underlining = whole or part not commenced or to be commenced |\n\nEndnote 3—Legislation history\n\n| Name                                                                                                                     | Registration | Commencement | Application, saving and transitional provisions |\n| ------------------------------------------------------------------------------------------------------------------------ | ------------ | ------------ | ----------------------------------------------- |\n| ASIC Corporations (Capital Reductions and Reconstructions—Technical Disclosure Relief) Instrument 2017/242 [F2017L00280] | 22/03/2017   | 23/03/2017   |                                                 |\n| ASIC Corporations (Amendment and Repeal) Instrument 2025/617 [F2025L01152]                                               | 23/09/2025   | 24/09/2025   |                                                 |\n\nEndnote 4—Amendment history\n\n| Provision affected | How affected |\n| ------------------ | ------------ |\n| s 2                | rep LA s 48D |\n| s 5 (note)         | am 2025/617  |\n|                    |              |","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The core scope of relief remains as originally made in 2017: it modifies how Division 2 of Part 7.9 applies to capital reduction offers and eligible reconstructions by treating register addresses as nominated addresses for Statements (s5). The 2025 amendment updated a related explanatory note/cross-reference (s5 note) but did not alter the operative modification — see Endnote 4 and s5 (note)."},"complexity_factors":["Operative amendment is narrowly targeted: modifies application of Part 7.9 by omitting s1013B(1) and inserting new subsection equivalent to s1015C(6) — see s5.","Relies on external definitions and instruments: key terms (eligible reconstruction, Part 2J.1 capital reduction offer, foreign capital reduction offer) are defined by reference to the ASIC Corporations (Application Form Requirements) Instrument 2017/241 — see s4.","Affects delivery rules tied to registers: substituted rule treats members as having nominated the address in the register of members (Chapter 2C) or equivalent foreign register, shifting where offerors must look to discharge delivery obligations — see s5(6)(a)–(b).","Made under delegated power: instrument is made under subsection 1020F(1) of the Corporations Act, so ASIC decides scope and operation within that statutory grant — see s3.","Interplay with other ASIC relief: note cross-references ASIC Corporations (Compromises or Arrangements) Instrument 2025/613 for related relief, creating a small network of instruments implementing exceptions — see s5 (note).","Low textual density but legal webbing: short text, but it interacts with multiple Act provisions (Divisions of Part 7.9, Chapter 2C) and external instruments, requiring cross-checking to assess full compliance burden — see s5 and s4.","Amendment history is minimal and largely editorial: endnotes show a 2025 amendment to the note only, indicating limited substantive change since 2017 — see Endnote 4."],"plain_english_summary":"This instrument changes how Part 7.9 of the Corporations Act applies to financial products offered under eligible reconstructions or capital reduction offers. It removes subsection 1013B(1) and treats a Statement that accompanies a notice of meeting as delivered to each member at the address shown in the company’s (or foreign company’s) register of members (s5). It affects companies, foreign companies and registered schemes and reduces a technical delivery and disclosure compliance step for offerors."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The instrument remains tightly focused on its original purpose of providing targeted disclosure relief for capital reductions and reconstructions. The 2025 amendment merely updated a cross-reference note to point to a related instrument (2025/613), without expanding the substantive scope."},"complexity_factors":["Very short instrument (only 5 operative sections, with section 2 repealed)","Only 4 defined terms, all referencing definitions in another ASIC instrument (2017/241)","Single operative provision (section 5) with straightforward modification structure","Simple conditional logic: applies only to 'eligible reconstructions' and 'capital reduction offers' as defined","Cross-references limited to: Corporations Act sections 1010C, 1011C, 1013B, 1015C, and one other ASIC instrument","No nested exceptions or complex transitional provisions","Amendment history shows minimal changes (one repeal of preliminary section, one note amendment)"],"plain_english_summary":"This instrument gives technical relief from certain PDS disclosure rules for capital reductions and eligible corporate reconstructions, so companies and registered managed investment schemes need not include the \"issue date\" in disclosure documents and can treat the share-register address as a member’s nominated address when the document is included in a meeting notice.  \n\nIt cuts red tape and costs for public and foreign companies and affected shareholders in restructures while preserving meeting and voting safeguards."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-capital-reductions-and-reconstructions-technical-disclosure-relief-instrument-2017","history":"/api/acts/asic-corporations-capital-reductions-and-reconstructions-technical-disclosure-relief-instrument-2017/history","analysis":"/api/acts/asic-corporations-capital-reductions-and-reconstructions-technical-disclosure-relief-instrument-2017/analysis","conflicts":"/api/acts/asic-corporations-capital-reductions-and-reconstructions-technical-disclosure-relief-instrument-2017/conflicts","importantCases":"/api/acts/asic-corporations-capital-reductions-and-reconstructions-technical-disclosure-relief-instrument-2017/important-cases","documents":"/api/acts/asic-corporations-capital-reductions-and-reconstructions-technical-disclosure-relief-instrument-2017/documents"}}