When applying for relief from any of the provisions relating to fundraising/equities, financial reporting, mergers and acquisitions, debentures or transactions affecting share capital, make sure you:
1. Apply early
If you're thinking of applying for relief, you should apply as early as possible. Applications for relief often raise issues that may take some time to resolve.
In general, we do not have power to grant retrospective relief. This particularly applies to applications for relief from the financial reporting requirements (application under section 340 of the Corporations Act 2001 (Corporations Act)).
2. 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.
The portal features structured online transactions with mandatory fields and questions that make it easier for applicants to ensure the information ASIC requires is provided upfront. Links to the relevant ASIC regulatory guidance are included. For more information, see how you apply for relief.
3. Address the criteria in our policies on relief
You should specifically address the criteria set out in Regulatory Guide 51 Applications for relief (RG 51).
For example, in your application you should particularly address the commercial benefit and any net regulatory benefit or detriment from granting the relief you seek. If you think you have special circumstances or you are disproportionately affected by the provisions, clearly set out your reasons.