{"id":"F2016L01478","name":"ASIC Corporations (Disclosure of Directors' Interests) Instrument 2016/881","slug":"asic-corporations-disclosure-of-directors-interests-instrument-2016-881","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":438940,"registerId":"F2016L01478-fast-fetch-1775955153121","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Disclosure of Directors' Interests) Instrument 2016/881","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: CO 01-1519 DRAFT remake\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.jpeg)\n\nASIC Corporations (Disclosure of Directors’ Interests) Instrument 2016/881\n\nI, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate  19 September 2016\n\n \n\nGrant Moodie\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc462048062)\n\n[1 Name of legislative instrument](#_Toc462048063)\n\n[2 Commencement](#_Toc462048064)\n\n[3 Authority](#_Toc462048065)\n\n[4 Definitions](#_Toc462048066)\n\n[Part 2—Exemption](#_Toc462048067)\n\n[5 Disclosure of directors’ interests](#_Toc462048068)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Disclosure of Directors’ Interests) Instrument 2016/881.\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 subsection 205G(6) of the Corporations Act 2001.\n\n4 Definitions\n\nIn this instrument:\n\nAct means the Corporations Act 2001.\n\nASX Listing Rules means the listing rules, as in force from time to time,  of the financial market operated by ASX Limited.\n\nPart 2—Exemption\n\n5 Disclosure of directors’ interests\n\nA director of a public company which is listed on the financial market operated by ASX Limited does not have to comply with subsection 205G(1) of the Act if the director reasonably believes that the company has complied with rule 3.19A of the ASX Listing Rules in relation to the director.\n","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"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument remains tightly scoped to its original purpose: providing relief from duplicate disclosure requirements for directors of ASX-listed companies. There is no evidence of scope creep; it addresses a single, specific regulatory overlap between the Corporations Act and ASX Listing Rules."},"complexity_factors":["Extremely short: only 5 sections across 2 Parts","Only 2 defined terms ('Act' and 'ASX Listing Rules')","Single operative provision (section 5) with straightforward conditional logic","No cross-references to other legislation beyond the enabling provision (Corporations Act s 205G(6)) and the exemption target (s 205G(1))","No nested exceptions, deeming provisions, or transitional arrangements","Simple 'if-then' structure: if ASX disclosure made, then Corporations Act obligation doesn't apply"],"plain_english_summary":"This instrument creates a safe-harbour exemption for directors of ASX-listed companies: if a director reasonably believes the company has already disclosed their interests under ASX Listing Rule 3.19A, they need not make a separate notification under the Corporations Act. It affects directors, company secretaries and ASIC oversight, reducing duplicate filings and red tape while keeping the market informed, provided the director acts with a genuine, reasonable belief."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument creates a targeted, limited exemption allowing ASX Listing Rule 3.19A compliance to satisfy the Corporations Act disclosure duty for ASX‑listed public companies. The text confines relief to that specific substitution; it does not expand statutory duties or apply beyond ASX‑listed public companies."},"complexity_factors":["Single narrow exemption mechanism: ties Corporations Act s205G(1) relief to compliance with ASX Listing Rule 3.19A (Part 2, section 5).","Cross‑reference to external rules: effect depends on ASX Listing Rules as in force from time to time (Definitions).","Subjective legal standard: exemption requires a director's \"reasonable belief\", which raises fact‑specific assessment and potential disputes.","Limited scope of application: applies only to directors of companies listed on the ASX (definition of ASX Listing Rules; section 5).","Delegated instrument: made under subsection 205G(6) of the Corporations Act (section 3), so interplay with primary legislation matters."],"plain_english_summary":"This instrument exempts directors of ASX‑listed public companies from the Corporations Act disclosure requirement (s205G(1)) where the director reasonably believes the company has complied with ASX Listing Rule 3.19A. Mechanically, ASX rule compliance can substitute for the statutory disclosure. It affects directors and listed companies by reducing duplicate public filings and shifting reliance to company/ASX reporting. The exemption depends on a subjective \"reasonable belief\", creating potential compliance and oversight risk."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-disclosure-of-directors-interests-instrument-2016-881","history":"/api/acts/asic-corporations-disclosure-of-directors-interests-instrument-2016-881/history","analysis":"/api/acts/asic-corporations-disclosure-of-directors-interests-instrument-2016-881/analysis","conflicts":"/api/acts/asic-corporations-disclosure-of-directors-interests-instrument-2016-881/conflicts","importantCases":"/api/acts/asic-corporations-disclosure-of-directors-interests-instrument-2016-881/important-cases","documents":"/api/acts/asic-corporations-disclosure-of-directors-interests-instrument-2016-881/documents"}}