{"id":"F2017L00190","name":"ASIC Corporations (Securities and Managed Investment Scheme Hawking Relief) Instrument 2017/184","slug":"asic-corporations-securities-and-managed-investment-scheme-hawking-relief-instrument-2017-184","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439132,"registerId":"F2017L00190-fast-fetch-1775955258760","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Securities and Managed Investment Scheme Hawking Relief) Instrument 2017/184","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 (Securities and Managed Investment Scheme Hawking Relief) Instrument 2017/184\n\nI, Stephen Yen PSM, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\nDate: 1 March 2017\n\n \n\n \n\n \n\nStephen Yen\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc476173490)\n\n[1 Name of legislative instrument](#_Toc476173491)\n\n[2 Commencement](#_Toc476173492)\n\n[3 Authority](#_Toc476173493)\n\n[4 Definitions](#_Toc476173494)\n\n[Part 2—Exemptions](#_Toc476173495)\n\n[5 Hawking relief for certain financial products](#_Toc476173496)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis instrument is the ASIC Corporations (Securities and Managed Investment Scheme Hawking Relief) Instrument 2017/184.\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 992B(1) of the Corporations Act 2001.\n\n4 Definitions\n\nIn this instrument:\n\nAct means the Corporations Act 2001.\n\nPart 2—Exemptions\n\n5 Hawking relief for certain financial products  \n\nRelief for unregistered managed investment schemes\n\n(1) A person making an offer of interests in a managed investment scheme that are not managed investment products does not have to comply with subsection 992A(1) of the Act.\n\nRelief for securities and interests in managed investment schemes\n\n(2) A person making an offer of securities or interests in a managed investment scheme does not have to comply with subsection 992A(3) of the Act.\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1889},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument provides targeted hawking relief exactly as described in its title and enabling provision (Corporations Act s 992B), covering only the specific financial products mentioned in section 5 without expansion into unrelated regulatory areas."},"complexity_factors":["Cross-references to Corporations Act subsections 992A(1) and 992A(3) requiring external context to understand the prohibitions being exempted","Distinction between 'managed investment products' and 'interests in managed investment schemes' which turns on technical registration status","Single operative provision (section 5) containing only two unconditional exemptions with no procedural requirements or limitations"],"plain_english_summary":"This instrument permits financial firms to hawk—make unsolicited approaches like cold calls—certain investments that are normally protected under the Corporations Act. It affects issuers and intermediaries seeking to market directly and retail investors who may receive unsolicited offers.\n\nBy carving out unregistered managed-investment interests and certain securities/managed-investment interests from the hawking ban, it eases fundraising but increases the risk of high‑pressure sales to consumers."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-securities-and-managed-investment-scheme-hawking-relief-instrument-2017-184","history":"/api/acts/asic-corporations-securities-and-managed-investment-scheme-hawking-relief-instrument-2017-184/history","analysis":"/api/acts/asic-corporations-securities-and-managed-investment-scheme-hawking-relief-instrument-2017-184/analysis","conflicts":"/api/acts/asic-corporations-securities-and-managed-investment-scheme-hawking-relief-instrument-2017-184/conflicts","importantCases":"/api/acts/asic-corporations-securities-and-managed-investment-scheme-hawking-relief-instrument-2017-184/important-cases","documents":"/api/acts/asic-corporations-securities-and-managed-investment-scheme-hawking-relief-instrument-2017-184/documents"}}