Apply for relief

Apply for an ASIC approval, consent, statement, nomination, or other

Apply for this relief if you are an entity or person applying for ASIC approval, consent, determination, direction, statement or nomination under a specific legislative provision.

When you apply, you will be asked to:

• provide details of all entities applying
• provide details of any managed investment schemes or Australian or foreign passport funds related to the application
• state whether the application is market sensitive.

Apply for a waiver from ASIC market integrity rules

Apply for this relief if you are a market participant or market licensee applying for a waiver from ASIC market integrity rules.

We recommend you discuss the nature of the waiver you are seeking with your ASIC intermediary supervisor, before you complete the application.

When you apply, you will be asked to:

• provide details of all entities applying for a waiver
• state whether the application is market sensitive
• indicate the specific market integrity rule for which the waiver is sought – you can select multiple market integrity rules.

Apply for an exemption, declaration or order

Apply for this relief if you are an entity or person applying for an exemption, declaration or order under a specific legislative provision.

When you apply, you will be asked to:

• provide details of all entities applying
• provide details of any managed investment schemes or Australian or foreign passport funds related to the application
• state whether the application is market sensitive.

Apply for an extension of time for a company to hold its annual general meeting (AGM)

Only the company director can submit this application to ASIC.

When you apply, you must specify whether the application relates to:

• an extension of time to hold the AGM in a calendar year other than the one required by section 250N of the Corporations Act, or
• an extension of time to extend the period within which the company may hold its AGM to a date later in the calendar year in which the AGM would otherwise have been due.

You will also be asked:

• whether the company is a listed or unlisted public company
• the name of the ultimate holding company (if any)
• the balance date of reports to be presented at the AGM
• whether the reports will be or have been audited and the name of auditor
• the year to which the AGM applies
• the date to which extension is sought
• if the company has previously held an AGM – if not, then the date of registration
• reasons why you need an extension of time.

Apply for a no-action letter

Apply for a no-action letter if there is no specific relief available. A no-action letter states that we do not intend to take regulatory action over a particular situation or conduct.

For information about applying for a no-action letter, see:

Regulatory Guide 108 No-action letters (RG 108)

When you apply, you will be asked to:

• provide details of all entities (including any natural person) applying for a no-action letter
• state whether the application is market sensitive
• indicate the regulatory subject area of your application (substantive matter) – you can add multiple subject areas.

1. What type of application are you submitting?

Decide what type of application you will submit - i.e. ‘standard’, ‘minor and technical’ or ‘novel’.

If you are submitting a standard application, specify the relevant pro forma instrument: see RG 51.

If you are submitting a novel application, apply as early as possible so we have enough time to consider your application.

2. What is the legal basis of your application?

Know:

• the particular powers you want us to exercise
• the specific provisions you want relief from.

3. What is the regulatory issue or problem you want us to consider?

Prepare:

• a summary of the regulatory issue or problem you want us to address
• a description of any legal, policy, commercial or regulatory aspects of the application.

4. Why can't you comply with the law?

Be able to explain how the application extends, relaxes or varies:

• the Corporations Act, SIS Act, National Credit Act, ASIC Act or Insurance Act
• ASIC published policy
• any precedent relief, legislative instruments, pro forma instruments, or
• any previous ASIC policy decisions.

If you are asking for relief that differs from our normal policy or relief instruments, be able to explain:

• exactly what that difference is
• why you cannot meet the normal requirements by changing your commercial arrangements.

5. What are the legal and cost–benefit arguments for relief?

Prepare:

• a cost–benefit analysis of the proposed relief
• legal, commercial, or policy reasons for the application.

If you are applying for relief from financial reporting, sustainability reporting and audit requirements, be prepared to give reasons why compliance with the Corporations Act would:

• make the financial report, sustainability report or other reports misleading
• be inappropriate in the circumstances
• impose an unreasonable burden.

6. Have you consulted with ASIC or other relevant regulatory organisations?

Prepare:

• names of people and organisations you have consulted with
• the outcomes of those consultations.

7. Are any third parties affected by your application? Have you consulted with them?

Prepare:

• names of people or organisations that may be affected by your application
• details of any consultations with those people and organisations.

8. Is the application urgent? If so, why?

For details about urgent applications, see RG 51.

9. Have you considered the fees?

You will need to pay a fee when you submit your application. For more information, see RG 51.

Details about payment options are available when you apply in the ASIC Regulatory Portal.

10. What supporting documents should you attach?

You can provide more information by attaching supporting documents to your application.

You should include a letter with your relief application. See our sample letter.

For lengthy attachments, include a summary of their nature and effect.