The Australian Securities and Investments Commission has remade financial reporting relief for eligible wholly-owned companies, allowing them to continue using existing arrangements beyond Oct. 1, 2026. The replacement instrument preserves the relief under Chapter 2M of the Corporations Act 2001 while broader reforms to group reporting relief progress. Eligibility conditions remain consistent, and companies need not act solely because of the remake. Companies must continue to satisfy applicable safeguards, including being covered by a deed of cross guarantee and having their holding company lodge consolidated group financial statements. Savings provisions apply, and ASIC will update relevant forms, regulatory guidance and website content. All four submissions to the preceding consultation supported the proposal.
Source: 2026-09-29Australian Securities & Investments Commission
Australian Securities and Investments Commission remakes wholly-owned company reporting relief beyond Oct. 1, 2026
The Australian Securities and Investments Commission has remade financial reporting relief for eligible wholly-owned companies beyond Oct. 1, 2026. Existing eligibility conditions and safeguards remain consistent, and companies need not act solely because of the remake.