{"id":"F2016L01944","name":"ASIC Corporations (Repeal) Instrument 2016/1157","slug":"asic-corporations-repeal-instrument-2016-1157","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439058,"registerId":"F2016L01944-fast-fetch-1775955216224","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Repeal) Instrument 2016/1157","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: ASIC Template (Amending or Repealing Legislative Instruments - April 2016)\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.jpeg)\n\nASIC Corporations (Repeal) Instrument 2016/1157\n\nI, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate  5 December 2016\n\n \n\n \n\nGrant Moodie\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc468730773)\n\n[1 Name of legislative instrument](#_Toc468730774)\n\n[2 Commencement](#_Toc468730775)\n\n[3 Authority](#_Toc468730776)\n\n[4 Schedules](#_Toc468730777)\n\n[5 Repeal of repealing instruments](#_Toc468730778)\n\n[Schedule 1—Repeal](#_Toc468730779)\n\n[ASIC Class Order [CO 02/295]](#_Toc468730780)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Repeal) Instrument 2016/1157.\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 subsections 601QA(1), 741(1), 992B(1) and 1020F(1) of the Corporations Act 2001.\n\n4 Schedules\n\nEach instrument that is specified in a Schedule to this instrument is repealed as set out in the applicable items in the Schedule.\n\n5 Repeal of repealing instruments\n\n(1) The repeal of an instrument by section 4 does not affect any 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—Repeal\n\nASIC Class Order [CO 02/295]\n\n1 The whole of the instrument\n\nRepeal the instrument.\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1524},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs a straightforward, narrow repeal of a single historical class order without expanding regulatory scope or adding new obligations."},"complexity_factors":["Single operative provision repealing one instrument","Contains a standard 'saving provision' regarding repeal of repealing instruments (section 5)","No defined terms or complex conditional logic","Extremely short (5 sections only)"],"plain_english_summary":"**What this does**\n\nThis instrument is a **clean-up measure** that removes an old regulatory document from the books. Specifically, it repeals (cancels) *ASIC Class Order [CO 02/295]*, which dated back to 2002.\n\n**Who it affects**\n\nAnyone who was relying on the rules or exemptions in Class Order [CO 02/295] will no longer be able to do so once this repeal takes effect. If you were conducting business based on that old class order, you need to check whether other laws now apply.\n\n**Why it matters**\n\nASIC regularly tidies up outdated \"class orders\" (legal exemptions or modifications that apply to groups of companies or financial services providers). This repeal removes one specific 2002 instrument entirely, simplifying the regulatory framework. Importantly, if the old 2002 order had itself cancelled an even older rule, that earlier cancellation stays in place (this is a technical safeguard in section 5)."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-repeal-instrument-2016-1157","history":"/api/acts/asic-corporations-repeal-instrument-2016-1157/history","analysis":"/api/acts/asic-corporations-repeal-instrument-2016-1157/analysis","conflicts":"/api/acts/asic-corporations-repeal-instrument-2016-1157/conflicts","importantCases":"/api/acts/asic-corporations-repeal-instrument-2016-1157/important-cases","documents":"/api/acts/asic-corporations-repeal-instrument-2016-1157/documents"}}