{"id":"F2018L00596","name":"ASIC Corporations (Repeal) Instrument 2018/356","slug":"asic-corporations-repeal-instrument-2018-356","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439620,"registerId":"F2018L00596-fast-fetch-1775955576539","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Repeal) Instrument 2018/356","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 2018/356\n\nI, Stephen Yen PSM, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\nDate: 7 May 2018\n\n \n\n \n\n \n\nStephen Yen\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc504985290)\n\n[1 Name of legislative instrument](#_Toc504985291)\n\n[2 Commencement](#_Toc504985292)\n\n[3 Authority](#_Toc504985293)\n\n[4 Schedules](#_Toc504985294)\n\n[5 Repeal of amending and repealing instruments](#_Toc504985295)\n\n[Schedule 1—Repeals](#_Toc504985296)\n\n[ASIC Class Order [CO 14/829]](#_Toc504985297)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Repeal) Instrument 2018/356.\n\n2 Commencement\n\nThis instrument commences on the later of:\n\n1.           the date of its gazettal; and\n\n\n(b) 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 paragraphs 741(1)(b), 911A(2)(l) and 1020F(1)(c) and subsection 1075A(1) of the Corporations Act 2001.\n\n4 Schedules\n\nEach instrument that is specified in the Schedule to this instrument is repealed as set out in the applicable items in the Schedule concerned.\n\n5 Repeal of amending and repealing instruments\n\n(1) The repeal of an instrument by section 4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 14/829]\n\n1 The whole of the instrument\n\nRepeal the instrument.\n\n \n","sortOrder":0}],"analysis":{"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"},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument does not expand regulatory scope; it only removes the named class order (s4 and Schedule 1). Section 5 preserves any amendments or repeals that the repealed instrument previously effected on other instruments (s5(1)) and invokes the Acts Interpretation Act 1901 s7 as to legal effect (s5(2)), so the repeal is narrowly targeted rather than a broader policy change."},"complexity_factors":["Very narrow substantive change: repeals a single instrument in full (Schedule 1, item 1).","Commencement rule is simple but conditional on two administrative events (s2: gazettal and registration).","Instrument relies on multiple Corporations Act powers for authority, requiring cross-reference to those provisions (s3: paragraphs 741(1)(b), 911A(2)(l), 1020F(1)(c) and subsection 1075A(1)).","Preserves knock‑on legal effects on other instruments amended or repealed by the repealed instrument (s5(1)), and expressly invokes Acts Interpretation Act 1901 s7 effect (s5(2)).","Administrative discretion is limited to the decision to repeal (signature/delegate) rather than ongoing rule‑making.","Practical compliance complexity falls on regulated entities that had relied on the class order — they must revert to baseline obligations or seek fresh relief (implied by repeal)."],"plain_english_summary":"This instrument repeals, in full, ASIC Class Order CO 14/829. It takes effect on the later of its gazettal and its registration on the Federal Register of Legislation and is made under specified provisions of the Corporations Act.\n\nOrganisations that relied on CO 14/829 lose that tailored relief and must comply with the default Corporations Act rules or obtain new exemptions; ASIC (through its delegate) decides the repeal and the immediate compliance costs fall on affected entities."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument performs exactly the function indicated by its title — repealing a specific class order. There is no scope creep; it is a straightforward housekeeping measure."},"complexity_factors":["Very short length (approximately 1 page of substantive content)","Only 5 preliminary sections plus a single-item schedule","Single repeal operation with no conditional logic or exceptions","Standard boilerplate commencement and interpretation provisions","No defined terms section","Minimal cross-referencing (only to the Corporations Act empowering provisions and Acts Interpretation Act)"],"plain_english_summary":"This instrument repeals ASIC Class Order CO 14/829, removing that earlier exemption under the Corporations Act. It includes standard commencement and machinery provisions so repeal takes effect on gazettal/registration and preserves any modifications the old order made to other laws.\n\nAnyone who relied on CO 14/829—notably financial services firms and company officers—must check whether alternative relief applies or whether they now need to comply with the full Act."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-repeal-instrument-2018-356","history":"/api/acts/asic-corporations-repeal-instrument-2018-356/history","analysis":"/api/acts/asic-corporations-repeal-instrument-2018-356/analysis","conflicts":"/api/acts/asic-corporations-repeal-instrument-2018-356/conflicts","importantCases":"/api/acts/asic-corporations-repeal-instrument-2018-356/important-cases","documents":"/api/acts/asic-corporations-repeal-instrument-2018-356/documents"}}