{"id":"F2016L01766","name":"ASIC Corporations (Repeal) Instrument 2016/1053","slug":"asic-corporations-repeal-instrument-2016-1053","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439024,"registerId":"F2016L01766-fast-fetch-1775955199327","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Repeal) Instrument 2016/1053","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.jpeg)\n\nASIC Corporations (Repeal) Instrument 2016/1053             \n\nI, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate   14 November 2016\n\n \n\n \n\n \n\n \n\nAnthony Graham\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc459103174)\n\n[1 Name of legislative instrument](#_Toc459103175)\n\n[2 Commencement](#_Toc459103176)\n\n[3 Authority](#_Toc459103177)\n\n[4 Schedules](#_Toc459103178)\n\n[5 Repeal of amending and repealing instruments](#_Toc459103179)\n\n[Schedule 1—Repeals](#_Toc459103180)\n\n[ASIC Class Order [CO 02/1072]](#_Toc459103181)\n\n[ASIC Class Order [CO 03/237]](#_Toc459103182)\n\n[ASIC Class Order [CO 03/1092]](#_Toc459103183)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Repeal) Instrument 2016/1053.\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 1020F(1) of the Corporations Act 2001.\n\n4 Schedules\n\nEach instrument that is specified in Schedule 1 to this instrument is repealed as set out in the applicable items in the Schedule.\n\n5 Repeal of amending and repealing instruments\n\n(1) The repeal of an instrument by section 4 does not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 of this instrument.\n\nSchedule 1—Repeals\n\nASIC Class Order [CO 02/1072]\n\n1 The whole of the instrument\n\nRepeal the instrument.\n\nASIC Class Order [CO 03/237]\n\n2 The whole of the instrument\n\nRepeal the instrument.\n\nASIC Class Order [CO 03/1092]\n\n3 The whole of the instrument\n\nRepeal the instrument.\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"},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":true,"description":"This instrument changes the statutory landscape by removing the three specified ASIC class orders from effect (s4; Schedule 1). Section 5 preserves any prior amendments or repeals those instruments made to other instruments and refers to s7 of the Acts Interpretation Act 1901, so the active corpus of delegated ASIC relief narrows while prior instrument-based legal changes remain in place."},"complexity_factors":["Very limited substantive change: repeals three whole class orders (Schedule 1; s4).","Made under a delegated power in the Corporations Act (subsection 1020F(1)); straightforward authorising provision (s3).","Simple commencement rule: day after registration (s2).","Savings/interpretation nuance: section 5 preserves any amendments or repeals effected by the instruments being repealed and invokes s7 of the Acts Interpretation Act 1901, creating a limited interpretive layer.","Potential practical impact complexity: parties who relied on the repealed class orders will lose those instruments’ continuing operation, which can create compliance and contractual adjustment costs despite the narrow drafting."],"plain_english_summary":"This instrument cancels three ASIC class orders listed in Schedule 1 and takes effect the day after it is registered. It removes the legal force of those class orders and therefore affects anyone who relied on the regulatory relief or directions they provided, while preserving any amendments or repeals those instruments previously made (see section 5)."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function its title suggests — repealing specific class orders. There is no scope creep; it is a targeted repeal instrument with no expansion beyond its stated purpose of removing three enumerated instruments."},"complexity_factors":["Very short instrument (approximately 1 page of substantive content)","Only 5 operative sections, with minimal conditional logic","No defined terms section","Single schedule with straightforward repeal instructions ('Repeal the instrument')","One technical savings provision (section 5) preserving amendments made by the repealed instruments to other instruments","No cross-references to external legislation beyond standard authority citation and Acts Interpretation Act reference"],"plain_english_summary":"This instrument is a cleanup measure that repeals three outdated ASIC class orders (CO 02/1072, CO 03/237, CO 03/1092), removing redundant regulatory instruments from the Corporations Act. It mainly affects businesses and financial‑services professionals who relied on those specific exemptions.\n\nIt’s administrative housekeeping: repeals clarify which rules apply while a savings provision preserves any changes those class orders made to other instruments, so prior amendments remain effective."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-repeal-instrument-2016-1053","history":"/api/acts/asic-corporations-repeal-instrument-2016-1053/history","analysis":"/api/acts/asic-corporations-repeal-instrument-2016-1053/analysis","conflicts":"/api/acts/asic-corporations-repeal-instrument-2016-1053/conflicts","importantCases":"/api/acts/asic-corporations-repeal-instrument-2016-1053/important-cases","documents":"/api/acts/asic-corporations-repeal-instrument-2016-1053/documents"}}