ASIC has remade three legislative instruments that provide financial reporting relief following consultation with industry.
The new instruments, which replace instruments due to sunset on 1 April 2026, are:
- ASIC Corporations (Rounding in Financial/Directors' Reports) Instrument 2026/183
- ASIC Corporations (Electronic Lodgment of Financial and Sustainability Reports) Instrument 2026/59, and
- ASIC Corporations (Disregarding Technical Relief) Instrument 2026/180.
These instruments will expire on 1 April 2031.
ASIC consulted on our proposal to:
- remake the three instruments
- withdraw Regulatory Guide 28 Relief from dual lodgment of financial reports (RG 28) because it provides redundant guidance, and
- repeal ASIC Corporations (Offer Information Statements) Instrument 2016/76 in CS 45 Proposed remake and sunset of financial reporting-related legislative instruments.
As a result, in addition to remaking the three instruments, ASIC will:
- withdraw RG 28
- repeal ASIC Instrument 2016/76 consistent with the proposal to allow the instrument to expire
- amend ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 to reflect the remade ASIC Instrument 2026/180, and
- make minor amendments to RG 125, RG 173, RG 189, RG 254 and INFO 31 in April 2026.
Background
ASIC Instrument 2026/183 allows entities to round amounts presented in financial reports and directors’ reports to the nearest thousand dollars. The remade instrument replaces ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191.
ASIC Instrument 2026/59 allows entities listed on the securities exchanges operated by ASX Limited, Cboe Australia (Cboe), National Stock Exchange of Australia Limited and Sydney Stock Exchange Limited to lodge financial, sustainability and directors’ reports electronically with the market operator without having to lodge the reports with ASIC. The remade instrument replaces ASIC Corporations (Electronic Lodgment of Financial and Sustainability Reports) Instrument 2016/181 and extends the relief to entities listed on Cboe.
ASIC Instrument 2026/180 allows entities to prepare a disclosure document or product disclosure statement for ‘continuously quoted securities’ under sections 713 and 1013FA of the Corporations Act 2001(Corporations Act) and to lodge ‘cleansing notices’ under sections 708A and 1012DA of the Corporations Act. The remade instrument replaces ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73.
Related links
ASIC proposes updates to legislative instruments about financial reporting