Released 20 October 2025. Comments close Friday 14 November 2025.
ASIC is inviting feedback on a proposal to extend the operation of two legislative instruments related to litigation funding until 31 March 2030.
ASIC Credit (Litigation Funding-Exclusion) Instrument 2020/37 and ASIC Corporations (Conditional Costs Schemes) Instrument 2020/38 (the Instruments) provide relief for litigation funding arrangements, conditional costs schemes and proof of debt arrangements that are not covered by the exemptions in the Corporations Regulations 2001.
These instruments are due to expire on 31 January 2026.
ASIC proposes to extend the operation of these Instruments to provide certainty for litigation funders, lawyers and members of litigation funding and proof of debt funding arrangements whilst the Government considers its policy position for these arrangements.
A consultation paper was not issued for this consultation.
Providing feedback
We invite feedback on our proposal. You should send your submission to rrr.consultation@asic.gov.au by 5pm AEDT on Friday, 14 November 2025.
You may choose to remain anonymous or use an alias when providing feedback. However, if you do remain anonymous we will not be able to contact you to discuss your feedback should we need to.
We will not treat your feedback as confidential unless you specifically request that we treat the whole or part of it (such as any personal or financial information) as confidential.
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Background
ASIC Credit (Litigation Funding-Exclusion) Instrument 2020/37 provides relief from the application of the National Credit Code in Schedule 1 to the National Consumer Credit Protection Act 2009 to litigation funding arrangements and proof of debt arrangements.
ASIC Corporations (Conditional Costs Schemes) Instrument 2020/38 provides relief from the requirements in Chapters 5C (managed investment schemes) and 7 (financial services licensing and disclosure) of the Corporations Act 2001 to litigation funding arrangements where the members wholly or substantially fund their legal costs under a conditional costs agreement.
Related links
- ASIC consults on extending relief for litigation funding arrangements and conditional costs schemes
- ASIC Credit (Litigation Funding-Exclusion) Instrument 2020/37
- ASIC Corporations (Conditional Costs Schemes) Instrument 2020/38