Seeking relief from financial services provisions that apply to managed funds
ASIC can grant relief (i.e. exemptions or declarations) from provisions of the Corporations Act that involve managed funds.
How to apply for relief
When applying for relief from the financial services provisions, please complete the following steps:
Apply early
If you’re thinking of applying for relief, you should apply as early as possible. Applications for relief often raise issues that may take some time to resolve.
See assumptions around processing time
While we aim to give you an in-principle decision within 28 days of receiving a complete relief application, this processing time is indicative only. The actual timing will depend on the nature and quality of the application submitted.
We have based our estimated processing time on the assumption that:
- your application is fully and carefully made in accordance with any relevant existing policy
- you have disclosed everything that you are aware of that is relevant to the making of our decision.
Processing times are set out in the ASIC service charter. Applications for relief often raise issues that may take some time to resolve. Deadlines imposed by the applicant – for example, in the context of a broader transaction – are not a sufficient basis for ASIC’s urgent consideration of a relief application. We may refuse an application that is not submitted with ASIC at the earliest practicable time because we have not had the opportunity to fully consider the application.
Apply through the ASIC Regulatory Portal
Submit your application for relief through the ASIC Regulatory Portal. Fees and payment options are available in the portal.
For more information, see Apply for relief.
Address the criteria in our policies on relief
Our general policy on applying for relief is set out in Regulatory Guide 51 Applications for relief (RG 51). Other ASIC policies may include details of how to apply for particular kinds of relief.
Sample application for relief
This example illustrates the type of information typically required in an application for relief.
Sample Application for Relief (Word 83 KB)
No-action letters
We will consider applications for no-action letters. We are more likely to provide a no-action letter when ASIC does not have specific powers to modify or grant an exemption and other relief is not available.
For more information, see Regulatory Guide 108 which explains how to make an application for a no-action letter and sets out the factors we consider when dealing with a request for a no-action letter.
Regulatory Guide 108 No-action letters (RG 108)
More information
Regulatory guidance on relief from the financial services provision
For more regulatory guides about relief, refer to:
Regulatory Guide 21 How ASIC charges fees for relief applications (RG 21)
Regulatory Guide 51 Applications for relief (RG 51)
Regulatory Guide 136 Funds management: Discretionary powers (RG 136)
Regulatory Guide 167 AFSL licensing: Discretionary powers (RG 167)
Regulatory Guide 169 Hawking and disclosure: Discretionary powers (RG 169).
For more information on what you should include in your application, refer to Information Sheet 82:
Information Sheet 82 Apply for relief (INFO 82).