{"id":"F2025L01494","name":"ASIC Corporations (Foreign Financial Services Providers) Instrument 2025/798","slug":"asic-corporations-foreign-financial-services-providers-instrument-2025-798","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":107488,"registerId":"commonwealth-F2025L01494-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Foreign Financial Services Providers) Instrument 2025/798","content":"![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations (Foreign Financial Services Providers) Instrument 2025/798\n\nI, Andrew Templer, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\nDate 2 December 2025\n\nAndrew Templer\n\nContents\n\nPart 1—Preliminary 3\n\n1 Name of legislative instrument....................................3\n\n2 Commencement...............................................3\n\n3 Authority....................................................3\n\n4 Schedules....................................................3\n\n5 Simplified outline of this instrument...............................3\n\n6 Definitions...................................................3\n\nPart 2—Exemptions 5\n\n7 Continuation of exemptions given by repealed ASIC FFSP Class Orders...5\n\nPart 3—Repeal 6\n\n8 Repeal.......................................................6\n\nSchedule 1—Repeals 7\n\nASIC Corporations (Repeal and Transitional) Instrument 2016/396.........7\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Foreign Financial Services Providers) Instrument 2025/798.\n\n2 Commencement\n\nThis instrument commences on the day after it is registered on the Federal Register of Legislation.\n\n> Note: The register may be accessed at www.legislation.gov.au.\n\n3 Authority\n\nThis instrument is made under paragraph 911A(2)(l) 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Act 2001.\n\n4 Schedules\n\nEach instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.\n\n5 Simplified outline of this instrument\n\nThis instrument is to remake the substantive provision in ASIC Corporations (Repeal and Transitional) Instrument 2016/396 to continue the exemption of certain foreign financial service providers from the requirement to hold an Australian financial services licence in specified circumstances.\n\n6 Definitions\n\nIn this instrument:\n\nrepealed ASIC FFSP Class Order means each of the following:\n\n(a) ASIC Class Order \\[CO 03/1099\\];\n\n(b) ASIC Class Order \\[CO 03/1100\\];\n\n(c) ASIC Class Order \\[CO 03/1101\\];\n\n(d) ASIC Class Order \\[CO 03/1102\\];\n\n(e) ASIC Class Order \\[CO 03/1103\\];\n\n(f) ASIC Class Order \\[CO 04/829\\];\n\n(g) ASIC Class Order \\[CO 04/1313\\].\n\nPart 2—Exemptions\n\n7 Continuation of exemptions given by repealed ASIC FFSP Class Orders\n\n(1) An exemption specified in a repealed ASIC FFSP Class Order as in force immediately before its repeal, continues to apply by force of this subsection, in the circumstances and on the conditions specified in relation to the exemption, provided that a circumstance or condition that requires a person to have provided ASIC with evidence of a matter that ASIC has stated in writing is adequate is taken to be satisfied if the person has provided ASIC with evidence of that matter.\n\n> Note 1: In the period between repeal of the repealed ASIC FFSP Class Orders and commencement of this instrument, the exemptions specified in the repealed ASIC FFSP Class Orders were continued in force by Schedule 2 of ASIC Corporations (Repeal and Transitional) Instrument 2016/396.\n\n> Note 2: See paragraph 2(a) of Schedule B to each of ASIC Class Orders \\[CO 03/1100\\], \\[CO 03/1101\\], \\[CO 03/1103\\], \\[CO 04/829\\] and \\[CO 04/1313\\] and subparagraph 2(a)(ii) of Schedule B to ASIC Class Order \\[CO 03/1102\\].\n\n(2) An exemption that continues to apply by force of subsection (1) applies provided any person relying on the exemption:\n\n(a) was able to rely on the exemption (as continued in force by ASIC Corporations (Repeal and Transitional) Instrument 2016/396) on 31 March 2020; and\n\n(b) complies with any written notice given by ASIC directing the person to give to ASIC, within the time specified in the notice, a written statement containing specified information about the financial service business operated by the person in this jurisdiction.\n\n  \n\nPart 3—Repeal\n\n8 Repeal\n\nThis instrument is repealed at the end of 31 March 2027.\n\n  \n\nSchedule 1—Repeals\n\nASIC Corporations (Repeal and Transitional) Instrument 2016/396\n\n1 The whole of the instrument\n\nRepeal the instrument.","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument maintains the exact same scope as its predecessors. It is purely a 'remake' instrument that continues existing exemptions without expansion. The explanatory material explicitly states it is 'to remake the substantive provision in ASIC Corporations (Repeal and Transitional) Instrument 2016/396'. There is no broadening of coverage, no new categories of foreign providers included, and no extension of the types of financial services covered. The only material change is the new sunset date (31 March 2027) and the repeal of the 2016 transitional instrument."},"complexity_factors":["Very short instrument (only 8 sections plus Schedule)","Minimal defined terms (only 1 definition: 'repealed ASIC FFSP Class Order')","Simple structure: preliminary provisions, single operative provision (continuation of exemptions), repeal clause","No nested conditional logic — only two straightforward conditions in section 7(2) (eligibility as at 31 March 2020 and compliance with ASIC notices)","Heavy reliance on external documents (the seven repealed Class Orders from 2003–2004) for substantive detail, but this instrument itself merely references rather than reproduces them","Single cross-reference to Corporations Act 2001 (paragraph 911A(2)(l) — ASIC's power to make exemptions)","Sunset clause (automatic repeal) is explicit and simple"],"plain_english_summary":"This instrument temporarily preserves exemptions allowing certain foreign financial services providers to operate in Australia without an AFSL, continuing relief from earlier ASIC class orders for providers eligible as at 31 March 2020. Affected providers must comply with ASIC information requests; the relief expires on 31 March 2027 and repeals the prior transitional instrument. It bridges existing cross‑border arrangements while maintaining ASIC oversight."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"Mechanically continues pre‑existing FFSP exemptions but narrows practical scope by limiting reliance to persons who were able to rely on the exemptions on 31 March 2020 (s7(2)(a)). It also imposes an information‑supply requirement to ASIC (s7(2)(b)), treats previously accepted evidence as adequate (s7(1)), and sets a sunset/expiry of 31 March 2027 (s8), replacing the 2016 repeal/transitional instrument (Schedule 1)."},"complexity_factors":["Short, focused instrument with limited substantive change — mainly a remake/continuation of prior exemptions (s5, s7).","Multiple cross‑references to seven prior ASIC class orders and a prior repeal/transitional instrument increase interpretive work (Definitions; Schedule 1).","Temporal limitation and sunset date (repeal at end of 31 March 2027) require tracking for compliance and future transition (s8).","Eligibility cut‑off based on ability to rely on 31 March 2020 creates edge cases and factual inquiries (s7(2)(a)).","Administrative discretion for ASIC to request information and to deem specified evidence adequate creates operational compliance burden (s7(1), s7(2)(b)).","Simple drafting reduces legal complexity but reliance on external documents and prior orders requires review of those instruments to apply exemptions practically."],"plain_english_summary":"This instrument remakes and continues specified exemptions that let certain foreign financial service providers operate in Australia without an Australian financial services (AFS) licence (see s5, s7). It keeps those exemptions in force until 31 March 2027 and repeals the 2016 transitional instrument (s8, Schedule 1).\n\nIt only applies to providers who could rely on the exemption on 31 March 2020 (s7(2)(a)), requires recipients to comply with ASIC notices to supply business information (s7(2)(b)), and treats evidence as adequate if ASIC has previously stated it is adequate (s7(1))."},"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-foreign-financial-services-providers-instrument-2025-798","history":"/api/acts/asic-corporations-foreign-financial-services-providers-instrument-2025-798/history","analysis":"/api/acts/asic-corporations-foreign-financial-services-providers-instrument-2025-798/analysis","conflicts":"/api/acts/asic-corporations-foreign-financial-services-providers-instrument-2025-798/conflicts","importantCases":"/api/acts/asic-corporations-foreign-financial-services-providers-instrument-2025-798/important-cases","documents":"/api/acts/asic-corporations-foreign-financial-services-providers-instrument-2025-798/documents"}}