Australian Securities & Investments Commission remakes five financial reporting relief instruments extending them to October 2030

The Australian Securities & Investments Commission (ASIC) has remade five legislative instruments that provide financial reporting relief following an industry consultation, preventing them from sunsetting on 1 October 2025. The remade instruments expire on 1 October 2030. The measures cover relief for non-reporting entities, post balance date reporting, combined reporting for related registered schemes, combined reporting for stapled groups, and relief for externally administered bodies and entities being wound up, including relief from certain financial reporting and annual general meeting requirements. ASIC received one consultation submission supporting the remakes; it decided not to extend related scheme reporting relief to sustainability reports due to a lack of detailed feedback, but will consider related scheme relief applications for sustainability reports on a case-by-case basis for entities relying on ASIC Corporations (Related Scheme Reports) Instrument 2025/438. ASIC also declined to extend externally administered bodies relief to companies being voluntarily deregistered, and limited the effect of the non-reporting entities relief in ASIC Corporations (Non-Reporting Entities) Instrument 2025/436 to five years while monitoring whether future Australian Accounting Standards Board projects reduce the need for the relief. ASIC Corporations Instruments 2025/436, 2025/437, 2025/438 and 2025/439 form part of ASIC’s pilot to consolidate financial reporting, accounting and audit instruments and remain operational while the pilot is being consulted on.