The Australian Securities & Investments Commission has opened a consultation on remaking its relief instrument that modifies requirements on pricing interests in registered managed investment schemes that were registered before 1 October 2013, excluding time-share schemes. The proposal would remake ASIC Corporations (Managed Investment Product Consideration) Instrument 2015/847 for a further five years, ahead of its scheduled sunset on 1 October 2025, to avoid disruption for entities that rely on the relief. The instrument is intended to provide certainty and flexibility on how responsible entities set consideration to acquire interests in certain circumstances, including how they exercise discretions relating to formulas or methods used to determine issue prices and withdrawal amounts. ASIC proposes minor changes to simplify the requirements for documenting exercises of pricing discretions, reduce prescriptiveness in those documentation provisions, and align the instrument with ASIC’s current drafting style. It estimates around 1,762 schemes may be relying on the instrument and considers it would be unduly burdensome, given legal, operational and cost implications, to require those pre-1 October 2013 schemes to comply with the broadly similar relief in ASIC Instrument 2023/693. Feedback is requested by 5pm AEST on 29 August 2025 via Consultation Sheet 27.
Australian Securities & Investments Commission 2025-08-05
Australian Securities & Investments Commission consults on five-year remake of managed investment product consideration relief for pre-October 2013 schemes
ASIC is consulting on extending its relief instrument for pricing interests in managed investment schemes registered before 1 October 2013, excluding time-share schemes. The proposal seeks to extend ASIC Instrument 2015/847 for five years, preventing disruption for entities relying on it. It offers flexibility in setting consideration and proposes minor documentation changes. About 1,762 schemes may rely on this instrument.