{"id":"F2017L00283","name":"ASIC Corporations (Repeal and Transitional) Instrument 2017/186","slug":"asic-corporations-repeal-and-transitional-instrument-2017-186","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":95998,"registerId":"commonwealth-F2017L00283-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Repeal and Transitional) Instrument 2017/186","content":"![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations (Repeal and Transitional) Instrument 2017/186\n\nAbout this compilation\n\nCompilation No. 2\n\nThis is a compilation of ASIC Corporations (Repeal and Transitional) Instrument 2017/186 as in force on 1 April 2022. It includes any commenced amendment affecting the legislative instrument to that date.\n\nThis compilation was prepared by the Australian Securities and Investments Commission.\n\nThe notes at the end of this compilation (the endnotes) include information\n\nabout amending instruments and the amendment history of each amended provision.\n\nContents\n\n[Part 1—Preliminary](#_Toc99632195)\n\n[1 Name of legislative instrument](#_Toc99632196)\n\n[3 Authority](#_Toc99632197)\n\n[4 Schedules](#_Toc99632198)\n\n[5 Repeal of amending and repealing instruments](#_Toc99632199)\n\n[Schedule 1—Repeal](#_Toc99632200)\n\n[ASIC Class Order \\[CO 02/273\\]](#_Toc99632201)\n\n[Schedule 2—Savings](#_Toc99632202)\n\n[Transitional continuation of relief given by repealed ASIC Class Order](#_Toc99632203)\n\n[Endnotes](#_Toc99632204)\n\n[Endnote 1—Instrument history](#_Toc99632205)\n\n[Endnote 2—Amendment history](#_Toc99632206)\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Repeal and Transitional) Instrument 2017/186.\n\n3 Authority\n\nThis instrument is made under paragraphs 283GA(1)(a), 741(1)(a), 992B(1)(a) and 1020F(1)(a) of the Corporations Act 2001.\n\n4 Schedules\n\nEach instrument that is specified in a Schedule to this instrument is repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.\n\n5 Repeal of amending and repealing instruments\n\n(1) The repeal of an instrument by section 4 does not affect any amendment to or repeal of another instrument (however described) made by the instrument.\n\n(2) Subsection (1) does not limit the effect of section 7 of the Acts Interpretation Act 1901 as it applies to the repeal of an instrument by section 4.\n\nSchedule 1—Repeal\n\nASIC Class Order \\[CO 02/273\\]\n\n1 The whole of the instrument\n\nRepeal the instrument.\n\nSchedule 2—Savings\n\nTransitional continuation of relief given by repealed ASIC Class Order\n\n1 Transitional relief\n\n(1) An exemption specified in ASIC Class Order \\[CO 02/273\\] as in force immediately before its repeal, continues to apply by force of this item, in the circumstances specified in item 2 and in the circumstances and on the conditions specified in relation to the exemption.\n\n(2) Subitem 1(1) has effect until 1 October 2022.\n\n2 Where exemption applies\n\n(1) From 1 April 2022, an exemption specified in subitem 1(1) applies to a person who was relying on an exemption specified in subitem 1(1) on 31 March 2022:\n\n(a) until 2 May 2022; and\n\n(b) after 2 May 2022, if the person has given ASIC a notice that complies with item 3 by 2 May 2022.\n\n(2) From 1 April 2022, an exemption specified in subitem 1(1) applies to a person who was not relying on an exemption specified in  \nsubitem 1(1) on 31 March 2022:\n\n(a) who has given ASIC a notice that complies with item 4;\n\n(b) from the date specified in the notice under subitem 4(c).\n\n3 Continuing reliance notice\n\nA notice under sub-subitem 2(1)(b) must set out in writing all of the following:\n\n(a) the name of the person;\n\n(b) each exemption specified in subitem 1(1) relied on;\n\n(c) the date the person started to rely on the exemption.\n\n4 Opt-in notice\n\nA notice under sub-subitem 2(2)(b) must set out in writing all of the following:\n\n(a) the name of the person;\n\n(b) each exemption specified in subitem 1(1) to be relied on;\n\n(c) the date the person will start to rely the exemption.\n\n  \n\nEndnotes\n\nEndnote 1—Instrument history\n\n| Instrument number | Date of FRL registration    | Date of commencement | Application, saving or transitional provisions |\n| ----------------- | --------------------------- | -------------------- | ---------------------------------------------- |\n| 2017/186          | 23/3/2017 (see F2017L00283) | 24/3/2017            |                                                |\n| 2019/216          | 20/3/2019 (see F2019L00325) | 21/3/2019            | -                                              |\n| 2022/0077         | 31/3/2022 (see F2022L00444) | 1/4/2022             | -                                              |\n\nEndnote 2—Amendment history\n\n> Note: ad. = added or inserted am. = amended LA = Legislation Act 2003 rep. = repealed rs. = repealed and substituted\n\n| Provision affected        | How affected  |\n| ------------------------- | ------------- |\n| Section 2                 | rep. s48D LA  |\n| Schedule 2 (subitem 1(2)) | rs. 2019/216  |\n| Schedule 2                | rs. 2022/0077 |","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"},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"The instrument has been amended since registration to alter its transitional provisions. Endnote 2 records that Schedule 2 (subitem 1(2)) was repealed and substituted by 2019/216 and Schedule 2 was repealed and substituted by 2022/0077, reflecting changes to the applicability and timing of the continuing relief and notice rules."},"complexity_factors":["Primary effect is straightforward repeal of a single class order (Schedule 1).","Transitional rules impose time‑limited, procedural requirements (Schedule 2 items 1–4) including deadlines (2 May 2022) and an overall expiry (1 October 2022).","Interplay with broader legislation: made under multiple Corporations Act paragraph powers (see section 3) and references Acts Interpretation Act 1901 (section 5(2)), requiring attention to statutory interpretation rules.","Notice content is prescriptive (must include name, exemptions, and start dates — Schedule 2 items 3–4), creating a modest compliance burden and evidentiary requirement.","Amendment history recorded in endnotes shows subsequent changes to transitional provisions, so users must check the current compiled version (Endnote 2)."],"plain_english_summary":"This instrument repeals ASIC Class Order CO 02/273 while temporarily carrying forward the exemptions that the Class Order had granted. Persons who were relying on those exemptions on 31 March 2022 keep them until 2 May 2022 (or longer if they give ASIC a specified written continuing‑reliance notice by 2 May); others can opt in by giving ASIC a written notice stating the exemptions and start date. Transitional relief ends on 1 October 2022. It matters because affected parties must give short, formal notices to preserve relief."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original purpose: repealing Class Order [CO 02/273] and managing the transition for existing relief holders. The amendments (2019 and 2022) merely adjusted the transitional dates and notice requirements, without expanding the substantive scope beyond the original repeal and savings mechanism."},"complexity_factors":["Short length (approximately 2 pages of substantive provisions)","Simple structure: preliminary matters, repeal schedule, and savings schedule","Limited defined terms (none explicitly defined in the instrument itself)","Straightforward conditional logic (if you were relying on exemption before date X, do Y; if not, do Z)","Clear sunset date (1 October 2022) providing certainty","Minimal cross-referencing (only to the Corporations Act 2001 for authority and the repealed Class Order for the substantive relief)"],"plain_english_summary":"This instrument repeals ASIC Class Order CO 02/273 but provides short-term bridging relief so businesses and individuals relying on its exemptions aren’t left exposed. Existing users have until 2 May 2022 to file a written continuing‑reliance notice with ASIC; new users may opt in by notice.\n\nAll transitional relief automatically expires on 1 October 2022, giving affected parties time to transition to the principal law or other arrangements."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-repeal-and-transitional-instrument-2017-186","history":"/api/acts/asic-corporations-repeal-and-transitional-instrument-2017-186/history","analysis":"/api/acts/asic-corporations-repeal-and-transitional-instrument-2017-186/analysis","conflicts":"/api/acts/asic-corporations-repeal-and-transitional-instrument-2017-186/conflicts","importantCases":"/api/acts/asic-corporations-repeal-and-transitional-instrument-2017-186/important-cases","documents":"/api/acts/asic-corporations-repeal-and-transitional-instrument-2017-186/documents"}}