Released 17 August 2004. Comment closed 17 September 2004.

This Consultation Paper sets out ASIC’s proposals for ongoing relief from the Australian financial services (AFS) licensing requirements for:

• issuers of securitisation products; and
• securitisation managers.

Current interim relief under ASIC Class Order [CO 03/1098] expires on 30 September 2004: see ASIC Information Release 03/43: ASIC provides temporary relief during period of consultation. ASIC proposes ongoing licensing relief for securitisation special purpose vehicles. ASIC will provide further temporary relief during the consultation period for this Paper. We have extended our current relief until 31 March 2005, to facilitate transition to any final policy: see paragraphs 36–37.

This Consultation Paper is not in ASIC's usual format for consulting on policy proposals. It reflects the discrete and technical nature of these policy proposals and recognises that the policy proposals demonstrate that extensive industry consultation has already taken place.

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