{"id":"F2022L01169","name":"ASIC Corporations (Product Intervention Order Extension—Binary Options) Instrument 2022/779","slug":"asic-corporations-product-intervention-order-extension-binary-options-instrument-2022-779","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":441516,"registerId":"F2022L01169-fast-fetch-1775956791774","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Product Intervention Order Extension—Binary Options) Instrument 2022/779","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\ntitle: Binary Options - ASIC Instrument\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations (Product Intervention Order Extension—Binary Options) Instrument 2022/779\n\nI, Jane Eccleston, delegate of the Australian Securities and Investments Commission, acting in accordance with the written approval of the Minister under subsection 1023H(4) of the Corporations Act 2001, make the following legislative instrument.\n\n \n\nDate 2 September 2022\n\n \n\n \n\n \n\nJane Eccleston\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc112958242)\n\n[1 Name of legislative instrument](#_Toc112958243)\n\n[2 Commencement](#_Toc112958244)\n\n[3 Authority](#_Toc112958245)\n\n[Part 2—Declaration](#_Toc112958246)\n\n[4 Terms of declaration](#_Toc112958247)\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Product Intervention Order Extension—Binary Options) Instrument 2022/779.\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 1023H(1) of the Corporations Act 2001.\n\n \n\n\nPart 2—Declaration\n\n4 Terms of declaration\n\nASIC Corporations (Product Intervention Order—Binary Options) Instrument 2021/240 remains in force until it is revoked.\n\n \n","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 legislation maintains its original narrow purpose: extending the binary options ban. There is no scope creep — it does exactly what it says on the tin and nothing more."},"complexity_factors":["Extremely short: only 4 operative sections across 2 Parts","No defined terms section — relies on definitions in the parent Corporations Act 2001","Single substantive provision (section 4) that simply extends an existing instrument","No conditional logic, exceptions, or nested provisions","No cross-references to other legislation beyond the enabling provision (s 1023H)","Essentially a one-line administrative extension wrapped in standard legislative formalities"],"plain_english_summary":"This instrument keeps in place ASIC’s ban on retail binary options trading, treating these short‑term bets as harmful financial products. It prevents firms from offering them to ordinary Australian investors and preserves ASIC’s enforcement power.\n\nThat matters because binary options have driven heavy consumer losses, predatory marketing and offshore scams. Making the ban indefinite signals regulators will not allow these products back into the Australian retail market unless revoked."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument does not alter the substantive coverage or obligations of the original product-intervention order. It simply declares that the earlier instrument (ASIC Instrument 2021/240) remains in force until revoked (s4), preserving the prior scope rather than changing it. Authority for the declaration is provided by subsection 1023H(1) of the Corporations Act (s3)."},"complexity_factors":["Single-purpose, short instrument that only declares the status of a prior instrument (s4).","Depends entirely on an external instrument (ASIC Instrument 2021/240), creating a cross-reference dependency.","Clear statutory authority cited (subsection 1023H(1) of the Corporations Act) — limited legal interpretation required (s3).","Simple commencement mechanism (commences day after registration) reduces procedural uncertainty (s2).","No novel regulatory definitions, exceptions, or transitional arrangements to interpret."],"plain_english_summary":"This instrument, made by an ASIC delegate under subsection 1023H(1) of the Corporations Act (s3), keeps the existing product-intervention order on binary options (*ASIC Corporations (Product Intervention Order—Binary Options) Instrument 2021/240*) in force until it is revoked (s4). It affects providers, platforms and consumers by maintaining prior restrictions and compliance obligations; costs fall on firms that must continue to comply, while ASIC retains the discretion to revoke the earlier order."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-product-intervention-order-extension-binary-options-instrument-2022-779","history":"/api/acts/asic-corporations-product-intervention-order-extension-binary-options-instrument-2022-779/history","analysis":"/api/acts/asic-corporations-product-intervention-order-extension-binary-options-instrument-2022-779/analysis","conflicts":"/api/acts/asic-corporations-product-intervention-order-extension-binary-options-instrument-2022-779/conflicts","importantCases":"/api/acts/asic-corporations-product-intervention-order-extension-binary-options-instrument-2022-779/important-cases","documents":"/api/acts/asic-corporations-product-intervention-order-extension-binary-options-instrument-2022-779/documents"}}