{"id":"F2025L01151","name":"ASIC Corporations (Foreign Securities—Publishing Notices) Instrument 2025/616","slug":"asic-corporations-foreign-securities-publishing-notices-instrument-2025-616","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":106920,"registerId":"commonwealth-F2025L01151-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Foreign Securities—Publishing Notices) Instrument 2025/616","content":"![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations (Foreign Securities— Publishing Notices) Instrument 2025/616\n\nI, Amanda Zeller, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\nDate 19 September 2025\n\nAmanda Zeller\n\nContents\n\nPart 1—Preliminary 3\n\n1 Name of legislative instrument....................................3\n\n2 Commencement...............................................3\n\n3 Authority....................................................3\n\n4 Definitions...................................................3\n\nPart 2—Declaration 4\n\n5 Publication relief for notices or reports of foreign companies............4\n\nPart 3—Repeal 4\n\n6 Repeal.......................................................4\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Foreign Securities—Publishing Notices) Instrument 2025/616.\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 subsection 741(1) of the Corporations Act 2001.\n\n4 Definitions\n\nIn this instrument:\n\nAct means the Corporations Act 2001.\n\nPart 2—Declaration\n\n5 Publication relief for notices or reports of foreign companies\n\nChapter 6D of the Act applies to all persons as if section 734 were modified or varied as follows:\n\n(a) omit subsection (2A), substitute:\n\n  “(2A) Subsection (2) does not apply if the advertisement or publication is authorised by subsection (4), (5), (6), (7) or (7A).”;\n\n(b) after subsection (7) insert:\n\n“(7A) An advertisement or publication does not contravene subsection (2) if it:\n\n(a) relates to an offer of securities of a body that is listed on an approved foreign market and consists of a notice or report by the body, or one of its officers, about its affairs to the relevant market operator; or\n\n(b) consists solely of a notice or report of a general meeting of the body.\n\nNote: The definition of approved foreign market is notionally inserted into section 9 by ASIC Corporations (Definition of Approved Foreign Market) Instrument 2017/669.”.\n\nPart 3—Repeal\n\n6 Repeal\n\nThis instrument is repealed at the start of 1 October 2030.","sortOrder":0}],"analysis":{"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"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument remains tightly focused on its original purpose of providing targeted relief for foreign companies' routine market disclosures. It does not expand beyond the specific advertising restriction in section 734 or create broader exemptions."},"complexity_factors":["Very short instrument (6 sections, approximately 1 page)","Only 1 defined term ('Act') in the interpretation section","Single operative provision (section 5) with straightforward modification to existing legislation","No nested exceptions or conditional logic beyond the two simple limbs of the new subsection (7A)","Clear sunset clause (automatic repeal in 2030)","Minimal cross-referencing (only references to existing Corporations Act sections and one other ASIC instrument)"],"plain_english_summary":"This instrument exempts foreign companies listed on approved overseas exchanges from Australia’s advertising ban when they publish routine corporate notices or purely general-meeting notices to their home-market operator. It affects foreign-listed firms with Australian investors or operations, Australian holders who can access those announcements, and market operators/compliance teams. The change prevents a legal conflict that would force censorship or penalties, keeping cross‑border disclosure flowing while preserving protections against solicitations of offers."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":true,"description":"This instrument changes the scope of the prohibition in section 734 by adding a targeted exception: communications that are notices or reports by a body listed on an approved foreign market (or its officers) to the relevant market operator, and notices of general meetings, are expressly permitted (section 5). The modification broadens permitted publications for foreign-listed bodies and applies to all persons; it is temporary, repealing 1 October 2030 (section 6)."},"complexity_factors":["Targeted amendment to section 734 via section 5: inserts a new exception (subsection (7A)) and replaces subsection (2A) — requires cross-referencing and reading-in of multiple subsections.","Cross-reference to the concept of 'approved foreign market' (note references insertion into section 9 by ASIC Instrument 2017/669) creates dependency on an external instrument for scope.","Broad application language: Chapter 6D 'applies to all persons' as if s734 modified, which widens practical effect beyond a narrow class of actors and may require interpretation in different contexts.","Sunset/repeal at a fixed date (section 6) introduces temporal complexity for compliance and transitional planning.","Made under subsection 741(1) (section 3) — a delegate instrument rather than primary legislation, affecting review and judicial treatment.","Potential interaction with other prohibitions or exemptions in Chapter 6D and advertising rules means legal advice may be needed to determine when the new exception applies.","Short, technical drafting with legal terms of art (eg, 'advertisement or publication', 'notice or report', 'relevant market operator') that carry statutory meaning outside this instrument."],"plain_english_summary":"This instrument amends the Corporations Act to let foreign companies listed on an \"approved foreign market\" publish certain notices and reports (including general meeting notices) without breaching the Act’s advertising prohibition. It applies to all persons and is made by ASIC under subsection 741(1). The change mechanically narrows the reach of section 734 by adding an exception for specified foreign-market communications (see section 5) and includes a built‑in sunset — repeal 1 October 2030 (section 6)."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-foreign-securities-publishing-notices-instrument-2025-616","history":"/api/acts/asic-corporations-foreign-securities-publishing-notices-instrument-2025-616/history","analysis":"/api/acts/asic-corporations-foreign-securities-publishing-notices-instrument-2025-616/analysis","conflicts":"/api/acts/asic-corporations-foreign-securities-publishing-notices-instrument-2025-616/conflicts","importantCases":"/api/acts/asic-corporations-foreign-securities-publishing-notices-instrument-2025-616/important-cases","documents":"/api/acts/asic-corporations-foreign-securities-publishing-notices-instrument-2025-616/documents"}}