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18-265MR ASIC urges organisations to act on industry funding before 27 September
The deadline is approaching for organisations and individuals regulated by ASIC to meet their legal obligations under new industry funding laws.
ASIC sent a letter in July to each registered office address. This letter advised how to provide industry funding contact details and submit business activity metrics in the new ASIC Regulatory Portal by 27 September 2018.
ASIC Commissioner Cathie Armour said that entities that have the letter from ASIC should act now and follow the simple steps outlined to complete the process.
‘Entities that do not have their letter should refer to our website at www.asic.gov.au to find out what they need to do by 27 September,’ Ms Armour said.
‘We appreciate that this is an entirely new funding model for all involved – and our focus is on ensuring people know what they need to do.’
Entities can follow these steps to submit their industry funding business activity metrics.
Most small proprietary companies or registered charities are not required to submit data.
Small proprietary companies only need to visit the portal if they operate in a financial services industry sector regulated by ASIC. The Government will absorb ASIC’s costs of regulating charities. Those charities registered with the Australian Charities and Not for Profits Commission (ACNC) are also not required to visit the portal to submit business activity metrics.
More information about industry funding.