Relief from corporate finance provisions
- Applying for relief
- Sample application for relief
- Reports on relief applications
- ASIC guidance on relief
- Regulatory index
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. Use forms CF01 - CF05
To help you apply, we have released forms CF01 – CF05.
We encourage you to use the form appropriate to your particular application as a cover sheet to your written application addressing the criteria in Regulatory Guide 51 Applications for relief (RG 51).
While using the form is not compulsory, it will make it easier for you to identify the type of relief you are seeking, as well as making the assessment process more efficient.
The form includes information to help you complete and lodge it. It also sets out the fees that apply.
Download a copy of the forms
3. Address the criteria in our policies on relief
You should specifically address the criteria set out in our policy on relief: see 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.
4. Lodge your application electronically
The quickest way to have your application considered and our preferred method of lodgement is to email a copy of the application and any attachments to email@example.com. Then send the paper copy and the fee to:
- Manager – Applications,
- Australian Securities & Investments Commission
- GPO Box 9827 in your capital city
Alternatively send your written application, CF form and cheque to us at the above address.
View our example of the information typically required in an application for relief. You can also read Information Sheet 82 Applying for relief – AFS licensees (INFO 82).
These reports summarise situations where we have exercised, or refused to exercise, our exemption and modification powers from:
- the financial reporting, managed investment, takeovers, fundraising or financial services provisions of the Corporations Act, and
- provisions of the National Consumer Credit Protection Act 2009 or National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009.
You can download copies of our regulatory guides (formerly policy statements) on relief as a PDF file:
- RG 5 Relevant interests and substantial holding notices
- RG 6 Takeovers: Exceptions to the general prohibition
- RG 43 Financial reports and audit relief
- RG 44 Annual general meeting - extension of time
- RG 51 Applications for relief
- RG 59 Announcing and withdrawing takeover bids (s653 and s746)
- RG 60 Schemes of arrangement
- RG 71 Downstream acquisitions
- RG 72 Foreign securities: Disclosure relief
- RG 74 Acquisitions approved by members
- RG 95 Disclosing entity provisions relief
- RG 102 Tender offers by vendor shareholders
- RG 108 No-action letters
- RG 110 Share buy-backs
- RG 115 Audit relief for proprietary companies
- RG 125 Share purchase plans
- RG 163 Takeovers: minimum bid price principle - s621
- RG 173 Disclosure for on-sale of securities and other financial products
- RG 174 Externally administered companies: Financial reporting and AGMs
- RG 188 Disclosure in reconstructions
- RG 189 Disclosure relief for rights issues
- RG 254 Offering securities under a disclosure document
The regulatory index is a subject-matter index that will help you find ASIC regulatory documents, class orders and instruments on whatever topic you want to know about.
Class orders and instruments provide wide relief for entities that comply with the conditions set out in the relief.
The regulatory index contains links from topics to the following ASIC documents:
View the regulatory index for: