CS 8 Proposed expiry date for primary production scheme legislative instrument
Released 5 July 2024. Comments close 9 August 2024.
ASIC is seeking feedback regarding the sunsetting of ASIC Corporations (Land Holding for Primary Production Schemes) Instrument 2024/15 from Australian financial services (AFS) licensees, superannuation trustees, platform operators, responsible entities, consumer groups and other interested stakeholders.
We are proposing that the legislative instrument, relating to managed investment schemes, be allowed to expire ('sunset') on 1 October 2024. This means the instrument will cease to operate and entities will no longer be able to rely on it.
We understand that the relief for primary production schemes covered by this instrument may no longer be required by the managed fund sector.
We invite feedback on whether the instrument still forms a necessary and useful part of the legislative framework, and whether standards set out in the instrument remain appropriate to ensure effectiveness.
A consultation paper was not issued for this consultation.
Providing feedback
Submissions on the proposal are due by 9 August 2024 to rri.consultation@asic.gov.au
Related links
ASIC proposes October expiry date for managed investment scheme legislative instrument (news item)
ASIC to allow instrument for primary production managed investment schemes to expire (news item)
ASIC Corporations (Land Holding for Primary Production Schemes) Instrument 2024/15