{"id":"F2016L01536","name":"ASIC Corporations (School Enrolment Deposits) Instrument 2016/812","slug":"asic-corporations-school-enrolment-deposits-instrument-2016-812","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":95198,"registerId":"commonwealth-F2016L01536-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (School Enrolment Deposits) Instrument 2016/812","content":"![](image.001.png)\n\nASIC Corporations (School Enrolment Deposits) Instrument 2016/812\n\nAbout this compilation\n\nCompilation No. 2\n\nThis is a compilation of ASIC Corporations (School Enrolment Deposits) Instrument 2016/812 as in force on 5 October 2021. 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](#_Toc486934321)\n\n[1 Name of legislative instrument](#_Toc486934322)\n\n[3 Authority](#_Toc486934323)\n\n[4 Interpretation](#_Toc486934324)\n\n[Part 2—Exemption](#_Toc486934325)\n\n[5 School enrolment deposits](#_Toc486934326)\n\n[Endnotes](#_Toc486934327)\n\n[Endnote 1—Instrument history](#_Toc486934328)\n\n[Endnote 2—Amendment history](#_Toc486934329)\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (School Enrolment Deposits) Instrument 2016/812.\n\n3 Authority\n\nThis instrument is made under paragraphs 601QA(1)(a), 741(1)(a), 926A(2)(a), 992B(1)(a) and 1020F(1)(a) of the Corporations Act 2001.\n\n4 Interpretation\n\nIn this instrument:\n\nAct means the Corporations Act 2001.\n\nschool means an establishment in which children are given formal primary or secondary education.\n\nschool enrolment debenture means a debenture that is issued because a person deposits money with a person operating a school where:\n\n(a) the making of the deposit is required as a condition of the enrolment of a child in the school; and\n\n(b) the debenture is incidental to that enrolment.\n\nschool enrolment deposit scheme means a managed investment scheme in relation to which:\n\n(a) the acquisition of an interest in the scheme is required as a condition of the enrolment of a child in a school; and\n\n(b) each interest in the scheme is incidental to that enrolment.\n\n  \n\nPart 2—Exemption\n\n5 School enrolment deposits\n\nFundraising and managed investments exemptions\n\n(1) A person who operates a school does not have to comply with any of the following:\n\n(a) subsection 601ED(5) of the Act in relation to the operation of a school enrolment deposit scheme;\n\n(b) Parts 6D.2 and 6D.3 of the Act in relation to an offer for the issue of a school enrolment debenture;\n\n> Note: This also means that the person will not be required to enter into a trust deed under section 283AA of the Act.\n\n(c) 992A of the Act in relation to a school enrolment debenture or an interest in a school enrolment deposit scheme;\n\n(d) Part 7.9 of the Act in relation to an interest in a school enrolment deposit scheme.\n\nLicensing exemption\n\n(2) A person providing financial services in relation to a school enrolment deposit scheme or a school enrolment debenture does not have to comply with subsection 911A(1) of the Act for the provision of those services.\n\nNote: ASIC Corporations (Miscellaneous Technical Relief) Instrument 2015/1115 provides relief from subsections 911A(1) and 911B(1) of the Act to a person who provides financial services on behalf of a person who does not need an Australian financial services licence because of an exemption made under section 926A of the Act.\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| 2016/812          | 28/9/2016 (see F2016L01536) | 29/9/2016            |                                                |\n| 2017/580          | 3/7/2017 (see F2017L00871)  | 4/7/2017             | -                                              |\n| 2021/799          | 22/9/2021 (see F2021L01310) | 5/10/2021            | -                                              |\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| Paragraph 5(1)(c)      | am. 2021/799 |\n| Subsection 5(2) (note) | am. 2017/580 |","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument remains tightly focused on its original purpose: exempting school enrolment deposits from financial services regulation. The amendment history shows only minor technical updates (repeal of Section 2, amendment to paragraph 5(1)(c), and a note update), with no expansion of scope beyond the core school enrolment deposit context."},"complexity_factors":["Very short instrument (only 5 substantive sections, with Section 2 repealed)","Only 3 defined terms in the interpretation section ('school', 'school enrolment debenture', 'school enrolment deposit scheme')","Single operative provision (section 5) containing exemptions","No nested exceptions or conditional logic—exemptions apply straightforwardly once criteria are met","Minimal cross-referencing (only references to specific Corporations Act sections being exempted)","No temporal limitations, sunset clauses, or complex application provisions"],"plain_english_summary":"This instrument exempts private schools that require parental enrolment deposits from key Corporations Act financial‑services rules (registration, debenture and AFSL/advice requirements), treating such deposits as incidental to securing a child’s place rather than as investment schemes. \n\nIt eases compliance burdens for schools but reduces the usual financial‑law protections available to parents who pay these deposits."},"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 first registered: paragraph 5(1)(c) was amended by 2021/799 and the note to subsection 5(2) was amended by 2017/580 (see Endnote 2). The compilation records the amendments but does not include the prior text, so the endnotes show scope was altered without indicating direction of change in this document."},"complexity_factors":["Narrow, targeted scope limited to 'school enrolment debenture' and 'school enrolment deposit scheme' (definitions in s4).","Cross‑references to multiple Corporations Act provisions (s5(1)(a)‑(d) exempts parts 6D.2, 6D.3, 7.9, s601ED(5), and s992A), increasing legal navigation despite small size.","Separate licensing exemption for service providers (s5(2)) ties into ASIC relief instruments, creating dependency on external instruments.","Low statutory detail — key effects turn on how the defined terms apply in practice, which creates interpretive reliance on facts and possible litigation or ASIC guidance.","Amendment history (Endnotes) shows later changes to paragraph 5(1)(c) and the subsection 5(2) note, so mapping current scope against earlier versions requires consulting amendments."],"plain_english_summary":"This instrument exempts schools (and those who operate them) from certain Corporations Act rules when parents pay enrolment deposits issued as “school enrolment debentures” or held through a related managed-investment scheme. Mechanically, it removes fundraising, managed‑investment and licensing obligations that would otherwise apply (see s5). Who decides: schools set the deposit arrangements; who pays: parents/families providing deposits. Effect: it lowers regulatory and licensing duties for schools but means those deposits fall outside some statutory investor protections."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-school-enrolment-deposits-instrument-2016-812","history":"/api/acts/asic-corporations-school-enrolment-deposits-instrument-2016-812/history","analysis":"/api/acts/asic-corporations-school-enrolment-deposits-instrument-2016-812/analysis","conflicts":"/api/acts/asic-corporations-school-enrolment-deposits-instrument-2016-812/conflicts","importantCases":"/api/acts/asic-corporations-school-enrolment-deposits-instrument-2016-812/important-cases","documents":"/api/acts/asic-corporations-school-enrolment-deposits-instrument-2016-812/documents"}}