The Australian Securities and Investments Commission has proposed remaking its legislative instrument that exempts certain wholly-owned entities from financial reporting obligations under Chapter 2M of the Corporations Act 2001. The proposal would extend the relief for five years while the Australian government progresses broader reforms to simplify reporting relief for group entities. The existing instrument would continue to cover financial years ending before Jan. 1, 2027, with the replacement applying to financial years ending on or after that date. This would preserve relief under entities’ existing arrangements. ASIC also proposes minor technical changes to the instrument and related documents, including the deed of cross guarantee. The consultation closes at 5 p.m. AEST on Aug. 28, 2026.
Australian Securities & Investments Commission2026-08-03
Australian Securities and Investments Commission consults on five-year extension of wholly-owned company reporting relief
The Australian Securities and Investments Commission is consulting on a five-year extension of financial reporting relief for certain wholly-owned entities. A replacement instrument would apply to financial years ending on or after Jan. 1, 2027, preserving existing arrangements. Feedback is due by 5 p.m. AEST on Aug. 28, 2026.