Released 6 June 2001. Comment closed 5 July 2001.

This policy proposal paper explains how ASIC will approach relief from compliance with Parts 7.6 to 7.8 of the Financial Services Reform Bill 2001 (the Bill). These parts of the Bill relate to the licensing and conduct and disclosure requirements that apply to providers of financial services.

The paper discusses:

• our general policy on relief from Parts 7.6 to 7.8 of the Bill including how you can apply for relief (Section A);
• how Parts 7.6 to 7.8 of the Bill will affect our existing licensing policies, including a list of those policy publications that will continue to provide guidance (and in some cases, be applied more widely, eg to custodians or depositories) (Section B); and
• how we propose to use our power to impose conditions on a licence (Section C).

This paper also includes two schedules:

• Schedule 1 sets out some proposed licence conditions that support the administration of the new legislative regime; and
• Schedule 2 sets out in tables the extent to which our existing policy and guidance publications that provide significant guidance relevant to Parts 7.6 to 7.8 of the Bill will apply after commencement of the Bill.

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