{"id":"F2017L01126","name":"ASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669","slug":"asic-corporations-definition-of-approved-foreign-market-instrument-2017-669","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":97018,"registerId":"commonwealth-F2017L01126-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669","content":"![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669\n\nmade under subsections 283GA(1), 601QA(1), 655A(1), 741(1), 926A(2), 992B(1), 1020F(1) and 1100K(2) of the Corporations Act 2001.\n\nCompilation No.9\n\nCompilation date: 03/12/2025\n\nIncludes amendments up to: F2025L01464\n\nAbout this compilation\n\nThis compilation\n\nThis is a compilation of the ASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669 that shows the text of the law as amended and in force on 03/12/2025 (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. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au).\n\nApplication, saving and transitional provisions for provisions and amendments\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. For more information on any modifications, see the Register for the compiled law.\n\nSelf‑repealing provisions\n\nIf a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.\n\nContents\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\n3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 Definition of “approved foreign market”\n\nPart 3— Determination\n\n6 Determination of foreign financial markets\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 (Definition of Approved Foreign Market) Instrument 2017/669.\n\n3 Authority\n\nThis instrument is made under subsections 283GA(1), 601QA(1), 655A(1), 741(1), 926A(2), 992B(1), 1020F(1) and 1100K(2) of the Corporations Act 2001.\n\n4 Definitions\n\nIn this instrument:\n\nAct means the Corporations Act 2001.\n\napplicable ASIC legislative instrument means any of the following:\n\n1.  ASIC Corporations (Share and Interest Sale Facilities) Instrument 2018/99;\n2.  ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705;\n3.  ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693;\n4.  ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 2023/647;\n5.  ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648;\n6.  ASIC Corporations (Employee Incentive Schemes—Ongoing Relief) Instrument 2025/169;\n7.  ASIC Corporations (Foreign Rights Issues) Instrument 2025/611;\n8.  ASIC Corporations (Foreign Scrip Bids) Instrument 2025/612;\n9.  ASIC Corporations (Foreign Securities—Publishing Notices) Instrument 2025/616;\n10.  ASIC Corporations (Foreign Small Scale Offers) Instrument 2025/614;\n11.  ASIC Corporations (Managed investment product consideration) Instrument 2025/629;\n12.  ASIC Corporations (Minimum Bid Price) Instrument 2015/1068;\n13.  ASIC Corporations (Consents to Statements) Instrument 2016/72.\n\nPart 2—Declaration\n\n5 Definition of “approved foreign market”\n\nChapters 2L, 5C, 6 and 6D, and Parts 7.6 (other than Division 4 and 8), 7.8, and 7.9, of the Act apply to any person who purports to rely on an applicable ASIC legislative instrument as if section 9 of the Act were modified by inserting the following definition in the appropriate alphabetical order:\n\napproved foreign market means any of the following:\n\n(a) Borsa Italiana;\n\n(b) Bursa Malaysia (previously known as Bursa Malaysia Main Board and Bursa Malaysia Second Board);\n\n(ba) Cboe Canada (previously known as NEO Exchange Inc.);\n\n(bb) Cboe US (also known as Cboe BZX Exchange);\n\n(bc) CSE (also known as Canadian Securities Exchange);\n\n(c) Euronext Amsterdam;\n\n(d) Euronext Brussels;\n\n(e) Euronext Lisbon;\n\n(f) Euronext Paris;\n\n(g) Frankfurt Stock Exchange;\n\n(h) Hong Kong Stock Exchange;\n\n(i) JSE (also known as the Johannesburg Stock Exchange);\n\n(j) London Stock Exchange;\n\n(k) NASDAQ Global Market;\n\n(l) NASDAQ Global Select Market (together with NASDAQ Global Market, previously known as NASDAQ Stock Market);\n\n(m) New York Stock Exchange;\n\n(n) NSYE MKT (previously known as American Stock Exchange);\n\n(o) NZX (also known as New Zealand Stock Exchange);\n\n(oa) Oslo Bors (also known as Oslo Stock Exchange);\n\n(p) Singapore Exchange;\n\n(q) SIX Swiss Exchange (previously known as SWX Swiss Exchange);\n\n(r) Tokyo Stock Exchange;\n\n(s) Toronto Stock Exchange.\n\nPart 3— Determination\n\n6 Determination of foreign financial markets\n\nFor the purposes of section 1100K of the Act, each approved foreign market (within the meaning of section 5) is determined.\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                                   | par = paragraph(s)/subparagraph(s)  |\n| amdt = amendment                               | /sub‑subparagraph(s)                |\n| c = clause(s)                                  | pres = present                      |\n| C[x] = Compilation No. x                       | prev = previous                     |\n| Ch = Chapter(s)                                | (prev…) = previously                |\n| def = definition(s)                            | Pt = Part(s)                        |\n| Dict = Dictionary                              | r = regulation(s)/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| F = Federal Register of Legislation            | s = section(s)/subsection(s)        |\n| gaz = gazette                                  | Sch = Schedule(s)                   |\n| LA = Legislation Act 2003                      | Sdiv = Subdivision(s)               |\n| LIA = Legislative Instruments Act 2003         | SLI = Select Legislative Instrument |\n| (md not incorp) = misdescribed amendment       | SR = Statutory Rules                |\n| cannot be given effect                         | Sub‑Ch = Sub‑Chapter(s)             |\n| mod = modified/modification                    | SubPt = Subpart(s)                  |\n| No. = Number(s)                                | underlining = whole or part not     |\n| o = order(s)                                   | commenced or to be commenced        |\n| Ord = Ordinance                                |                                     |\n\nEndnote 3—Legislation history\n\n| Name                                                                                        | Registration | Commencement | Application, saving or transitional provisions |\n| ------------------------------------------------------------------------------------------- | ------------ | ------------ | ---------------------------------------------- |\n| ASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669 [F2017L01126] | 4/9/2017     | 5/9/2017     |                                                |\n| ASIC Corporations (Amendment) Instrument 2017/1119 [F2017L01696]                            | 21/12/2017   | 22/12/2017   |                                                |\n| ASIC Corporations (Amendment and Repeal) Instrument 2018/98 [F2018L00203]                   | 6/3/2018     | 7/3/2018     |                                                |\n| ASIC Corporations (Amendment) Instrument 2021/895 [F2021L01514]                             | 4/11/2021    | 5/11/2021    |                                                |\n| ASIC Corporations (Amendment) Instrument 2023/160 [F2023L00290]                             | 20/03/2023   | 21/03/2023   |                                                |\n| ASIC Corporations (Amendment and Repeal) Instrument 2023/649 [F2023L01166]                  | 31/8/2023    | 1/9/2023     |                                                |\n| ASIC Corporations (Amendment and Repeal) Instrument 2023/694 [F2023L01222]                  | 11/9/2023    | 12/9/2023    |                                                |\n| ASIC Corporations (Amendment and Repeal) Instrument 2025/617 [F2025L01152]                  | 23/9/2025    | 24/9/2025    |                                                |\n| ASIC Corporations (Amendment and Repeal) Instrument 2025/630 [F2025L01176]                  | 26/9/2025    | 27/9/2025    |                                                |\n| ASIC Corporations (Amendment) Instrument 2025/750 [F2025L01464]                             | 02/12/2025   | 03/12/2025   |                                                |\n\nEndnote 4—Amendment history\n\n| Provision affected                                                   | How affected |\n| -------------------------------------------------------------------- | ------------ |\n| s 2                                                                  | rep LA s 48D |\n| s 3                                                                  | am 2025/617  |\n| s 4 (definition of applicable ASIC legislative instrument, para (a)) | am 2018/98   |\n| s 4 (definition of applicable ASIC legislative instrument, para (b)  | am 2023/160  |\n| s 4 (definition of applicable ASIC legislative instrument, para (c)) | am 2023/694  |\n| s 4 (definition of applicable ASIC legislative instrument, para (d)) | am 2023/649  |\n| s 4 (definition of applicable ASIC legislative instrument, para (e)) | am 2023/649  |\n| s 4 (definition of applicable ASIC legislative instrument, para (f)) | am 2025/617  |\n| s 4 (definition of applicable ASIC legislative instrument, para (g)) | am 2025/617  |\n| s 4 (definition of applicable ASIC legislative instrument, para (h)) | am 2025/617  |\n| s 4 (definition of applicable ASIC legislative instrument, para (i)) | am 2025/617  |\n| s 4 (definition of applicable ASIC legislative instrument, para (j)) | am 2025/617  |\n| s 4 (definition of applicable ASIC legislative instrument, para (k)) | am 2025/630  |\n| s 5 (definition of approved foreign market, para (oa))               | ad 2021/895  |\n| s 5 (definition of approved foreign market, para (ba), (bb) and (bc) | ad 2025/750  |\n| s 5                                                                  | am 2017/1119 |\n| s 6                                                                  | ad 2023/160  |","sortOrder":0}],"analysis":{"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"},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"Yes. The instrument’s scope has been expanded through amendments that added specific markets (for example para (oa) in 2021/895 and paras (ba),(bb),(bc) in 2025/750) and updated the list of applicable ASIC legislative instruments (see s4 amendment entries in the amendment history). Section 6 (the formal determination) was also added/updated (am 2023/160), so the set of covered markets and instruments has broadened over time (see Endnote 4 and ss 4–6)."},"complexity_factors":["Cross‑references to multiple Corporations Act provisions (see instrument authority: subsections 283GA(1), 601QA(1), 655A(1), 741(1), 926A(2), 992B(1), 1020F(1), 1100K(2)) increasing legal linkage.","Definition structure: s4 lists many \"applicable ASIC legislative instruments\" whose operation is affected by the declaration.","s5 is effectively a fixed catalogue of named foreign exchanges; maintaining accuracy requires periodic amendments.","Regulatory determination power (s6) formalises ASIC’s decision role, creating administrative discretion over the list.","Operational effect spans multiple Act chapters and Parts (Chapters 2L, 5C, 6, 6D and Parts 7.6, 7.8, 7.9), so compliance obligations propagate across regimes.","Amendment history shows repeated updates to both the market list and instrument references, adding upkeep and interpretive complexity."],"plain_english_summary":"This instrument declares a specific list of overseas exchanges as “approved foreign markets” for certain Corporations Act chapters and for persons relying on a named set of ASIC legislative instruments (see s5 and s4). That means entities using those ASIC instruments must comply with the listed Act provisions as if transactions occurred on those overseas exchanges. ASIC also formally determines each listed market under s6, so the regulator decides the official list and compliance costs fall on market participants relying on the applicable instruments."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":true,"description":"Originally a simple definitional instrument listing approved foreign markets, the scope has expanded significantly through amendments. The 'applicable ASIC legislative instrument' definition has grown from a handful of items to 13 separate instruments covering diverse areas: OTC derivatives, managed investments, employee incentives, foreign takeovers, custodial services, and CCIVs (Corporate Collective Investment Vehicles). Additionally, the instrument now includes a determination power under section 1100K of the Corporations Act (Part 3), which wasn't in the original 2017 version. The instrument has evolved from a simple exchange list into a central coordination point for multiple regulatory relief schemes."},"complexity_factors":["Short length (only 6 operative sections, effectively 2 substantive provisions)","Simple structure: definitions list, approved market list, and determination","No nested conditional logic or exceptions within exceptions","Cross-references are explicit and limited to a defined list of 13 other instruments","Minimal legislative interpretation required—primarily a lookup table function","Some complexity from tracking name changes of exchanges (e.g., 'previously known as' annotations)"],"plain_english_summary":"This ASIC rule establishes a list of 19 \"approved foreign markets\"—major overseas exchanges (e.g., NYSE, LSE, NASDAQ, HKEX, TSE)—used to determine when 13 ASIC instrument provisions (exemptions/modifications) apply. It affects Australian issuers, fund managers, custodians and businesses running employee share schemes that rely on cross‑border relief. Exchanges not on the list cannot trigger those regulatory concessions; the list is updated periodically (this version to Dec 2025)."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-definition-of-approved-foreign-market-instrument-2017-669","history":"/api/acts/asic-corporations-definition-of-approved-foreign-market-instrument-2017-669/history","analysis":"/api/acts/asic-corporations-definition-of-approved-foreign-market-instrument-2017-669/analysis","conflicts":"/api/acts/asic-corporations-definition-of-approved-foreign-market-instrument-2017-669/conflicts","importantCases":"/api/acts/asic-corporations-definition-of-approved-foreign-market-instrument-2017-669/important-cases","documents":"/api/acts/asic-corporations-definition-of-approved-foreign-market-instrument-2017-669/documents"}}