ASIC has issued ASIC Corporations (Repeal) Instrument 2025/522, which repeals ASIC Corporations (Avia Syndicate) Instrument 2015/825 (ASIC Instrument 2015/825) ahead of its automatic repeal on 1 October 2025.

ASIC Instrument 2015/825 provided conditional relief to Avia Aviation Pty Ltd and Avia Airshares Pty Ltd (Avia entities) for scheme registration, licensing and certain disclosure requirements as the operators and promoters of fractional airplane owning syndicates.

ASIC has determined, after consultation with the directors of the Avia entities, that the relief is no longer legally or commercially necessary.

ASIC requested the Avia entities to provide submissions as to whether they require the relief provided in ASIC Instrument 2015/825 to continue and, if so, whether ASIC should make changes to the terms of the relief.

The Avia entities requested the relief in ASIC Instrument 2015/825 to be extended for the purposes of forming relevant syndicates.

However, as no syndicate has been formed in over 10 years, and no compelling evidence was provided to suggest that one will be established in the near future, ASIC has determined that the relief under ASIC Instrument 2015/825 is no longer necessary.

In the event that Avia syndicates are established in the near future, the Avia entities can apply to ASIC for relief in respect of specific Avia syndicates.