Seeking relief from financial services provisions that apply to schemes

We can grant relief (i.e. exemptions or declarations) from provisions of the Corporations Act that involve managed investment schemes.

How to apply for relief

When applying for relief from the financial services provisions, please complete the following steps:

  1. Apply through the ASIC Regulatory Portal

You should submit your application for relief through the ASIC Regulatory Portal. You will need to pay fees for an application. We have provided details about payment options in the portal. 

We have provided more information on applying for relief through the ASIC Regulatory Portal.

  1. Address the criteria in our policies on relief

Our general policy on applying for relief is set out in Regulatory Guide 51 Applications for relief (RG 51). Other published ASIC policy may include details of how to apply for particular kinds of relief.

You can download copies of our regulatory guides on relief from the financial services provisions:

  • RG 21 How ASIC charges fees for relief applications
  • RG 51 Applications for relief
  • RG 136 Funds management: Discretionary powers
  • RG 167 Licensing: Discretionary powers
  • RG 169 Disclosure: Discretionary powers.

For more information on what you should include in your application, visit Information Sheet 82 Apply for relief (INFO 82).

  1. Apply early

If you’re thinking of applying for relief, you should apply as early as possible. While we aim to give you an in-principle decision within 28 days of receiving a complete relief application, this processing time is indicative only. The actual timing will depend on the nature and quality of the application submitted.

We have based our estimated processing time on the assumption that:

  • your application is fully and carefully made in accordance with any relevant existing policy
  • you have disclosed everything that you are aware of that is relevant to the making of our decision.

Processing times are set out in the ASIC service charter. Applications for relief often raise issues that may take some time to resolve. Deadlines imposed by the applicant – for example, in the context of a broader transaction – are not a sufficient basis for ASIC’s urgent consideration of a relief application. We may refuse an application that is not submitted with ASIC at the earliest practicable time because we have not had the opportunity to fully consider the application.

Sample application for relief

This example illustrates the type of information typically required in an application for relief.

Sample Application for Relief (Word 83 KB)

No-action letters

We will consider applications for no-action letters. We are more likely to provide a no-action letter when ASIC does not have specific powers to modify or grant an exemption and other relief is not available.

For more information, see Regulatory Guide 108 No-action letters (RG 108). This guide explains how to make an application for a no-action letter and sets out the factors we consider when dealing with a request for a no-action letter.

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Last updated: 08/09/2021 04:15