media release

10-14AD ASIC issues report on relief applications decided between April and July 2009


ASIC has released a report outlining recent decisions on applications for relief between 1 April and 31 July 2009 from the corporate finance, financial services and managed investment provisions of the Corporations Act (the Act). 

Report 184 Overview of decisions on relief applications (April 2009 to July 2009) (REP 184) provides an overview of a range of the applications where ASIC has considered, exercised, or refused to exercise, its exemption and modification powers from the financial reporting, managed investment, takeovers, fundraising and financial services provisions of the Act.

REP 184 also highlights examples where ASIC decided to adopt a no-action position regarding specified non-compliance with the provisions, and features an appendix detailing the relief instruments it executed. REP 184 is available from the ASIC website or by calling ASIC’s Infoline on 1300 300 630.

Read REP 184


ASIC can exempt or modify the Corporations Act under the provisions of Chapters 2D (officers and employees), 2J (share buy-backs), 2L (debentures), 2M (financial reporting and audit), 5C (managed investment schemes), 6 (takeovers), 6A (compulsory acquisitions and buy-outs), 6C (information about ownership of entities), 6D (fundraising) and 7 (financial services) of the Corporations Act. ASIC exercises its discretion to vary or set aside certain requirements of the law, where the burden of complying with the law significantly detracts from its overall benefit, or where business can be facilitated without harming other stakeholders. ASIC publishes a copy of most of the exemption and/or modification instruments issued in the ASIC Gazette.

Applying for relief

Applications for relief must be in writing and should address the requirements set out in Regulatory Guide 51 Applications for relief (RG 51). Applications can be submitted electronically to

More information on applying for:

Media enquiries: Contact ASIC Media Unit