{"id":"F2022L00756","name":"ASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301","slug":"asic-corporations-notification-of-authorised-representatives-instrument-2022-301","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":441393,"registerId":"F2022L00756-fast-fetch-1775956704610","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 22.10.0\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301\n\nI, Rhys Bollen, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate 8 June 2022\n\n \n\nRhys Bollen\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc105573165)\n\n[1 Name of legislative instrument](#_Toc105573166)\n\n[2 Commencement](#_Toc105573167)\n\n[3 Authority](#_Toc105573168)\n\n[4 Definitions](#_Toc105573169)\n\n[Part 2—Declaration](#_Toc105573170)\n\n[5 Circumstances where notification to ASIC about authorised representatives is not required](#_Toc105573171)\n\n[Part 3—Repeal](#_Toc105573172)\n\n[6 Repeal](#_Toc105573173)\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301.\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 paragraph 926A(2)(c) of the Corporations Act 2001.\n\n4 Definitions\n\nIn this instrument:\n\nAct means the Corporations Act 2001.\n\n Part 2—Declaration\n\n5 Circumstances where notification to ASIC about authorised representatives is not required\n\nPart 7.6 of the Act (other than Divisions 4 and 8) applies in relation to an authorised representative of a financial services licensee as if section 916F were modified or varied as follows:\n\n(a) in subparagraph 916F(1AA)(d)(iii), omit “and”;\n\n(b) after subparagraph 916F(1AA)(d)(iii), insert:\n\n“(iv)  a claims handling and settling service that relates to one or more of the following financial products:\n\n(A) a general insurance product;\n\n(B) a consumer credit insurance product; and”.\n\n \n\n\nPart 3—Repeal\n\n6 Repeal\n\nThis instrument is repealed on 8 June 2027.\n\n \n\n \n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":true,"description":"This instrument narrows the notification scope under Part 7.6 by excluding authorised representatives who perform claims handling and settling services for general insurance and consumer credit insurance from the ASIC notification requirement (s5). It therefore reduces the set of representatives subject to notification, with the change operative until repeal on 8 June 2027 (s6)."},"complexity_factors":["Narrow, targeted amendment to a single provision of the Corporations Act (modifies s916F) via this instrument (s5).","Dependence on cross-references to Part 7.6 and existing statutory definitions in the Act (interpretive dependency).","Sunset/repeal date introduces administrative tracking to monitor expiry (s6).","Low number of defined terms and brief text limit legal layering and procedural steps.","Possible interpretive uncertainty over the scope of 'claims handling and settling service' requires reference to other law or guidance.","Effect shifts compliance burden (notification) from regulator to licensees, changing administrative processes for firms."],"plain_english_summary":"This instrument amends the Corporations Act treatment of authorised representatives by excluding those who provide claims handling and settling services for general insurance and consumer credit insurance from ASIC notification requirements (see s5). It reduces the administrative notification burden on financial services licensees and their authorised representatives, shifts a compliance decision to licensees, and automatically expires on 8 June 2027 (s6). The change lowers upfront compliance costs but may create discretion and some uncertainty about which services qualify."},"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 focused on its original purpose: creating a targeted, time-limited exemption from ASIC notification requirements for insurance claims handlers. It has not expanded beyond this narrow administrative relief measure."},"complexity_factors":["Very short instrument — only 6 sections across 3 Parts","Single substantive provision (section 5) with a straightforward modification to existing legislation","Only 1 defined term ('Act') in the interpretation section","No nested exceptions or conditional logic — the exemption applies cleanly to the specified insurance claims services","No cross-references beyond the single modification to section 916F of the Corporations Act","Automatic sunset clause (repeal date) built in, requiring no further action"],"plain_english_summary":"This instrument creates a temporary exemption letting financial services licensees avoid notifying ASIC when appointed authorised representatives only perform claims handling and settling for general or consumer credit insurance. It reduces paperwork for insurers and affects licensees and insurance claims handlers; the exemption expires on 8 June 2027."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-notification-of-authorised-representatives-instrument-2022-301","history":"/api/acts/asic-corporations-notification-of-authorised-representatives-instrument-2022-301/history","analysis":"/api/acts/asic-corporations-notification-of-authorised-representatives-instrument-2022-301/analysis","conflicts":"/api/acts/asic-corporations-notification-of-authorised-representatives-instrument-2022-301/conflicts","importantCases":"/api/acts/asic-corporations-notification-of-authorised-representatives-instrument-2022-301/important-cases","documents":"/api/acts/asic-corporations-notification-of-authorised-representatives-instrument-2022-301/documents"}}