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CS 53 Proposed remake of six legislative instruments relating to managed investment schemes

simple consultation – 53

Released 27 May 2026. Comments close 24 June 2026.

We are seeking feedback on our proposal to remake six legislative instruments relating to managed investment schemes, which are due to sunset on 1 October 2026. We are proposing to extend the relief provided in these instruments for a further five years.

We are proposing to remake the following legislative instruments:

We have assessed that these legislative instruments continue to form a necessary and useful part of the legislative framework.

Aside from minor and technical changes to the instruments to improve clarity and consistency, we are proposing to leave the content of the instruments largely unchanged.

Where relevant, we are proposing to remove transitional provisions that are no longer necessary. This includes the relief in section 6 of ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2016/489. This relief was intended to assist responsible entities transitioning to the attribution managed investment trust regime, and sufficient time has now passed since that regime was introduced.

Providing feedback

We invite feedback on our proposal to remake these instruments from industry and interested stakeholders. When providing feedback, please indicate which instrument(s) you are responding to.

In addition to the request for general feedback on each of the instruments we are proposing to remake, we invite feedback on specific issues below in relation to ASIC Corporations (Horse Schemes) Instrument 2016/790:

  1. Is the relief under the instrument fit for purpose? Can the relief be amended to reduce complexity and/or compliance burdens while maintaining appropriate consumer protections? If so, how?
  2. Are the key thresholds in the relief appropriate, particularly the limits on the amount raised from the issue of interests in a horse racing syndicate, and the number of participants in the syndicate, for the purposes of relying on the relief in section 5? If not, why not?

You should send your submission to rri.consultation@asic.gov.au by 5pm AEST on 24 June 2026.

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.

Please see our privacy policy for more information on how we handle personal information, your rights to seek access to and correct personal information, and your right to complain about breaches of privacy by ASIC.

Background

ASIC Corporations (Serviced Apartment and Like Schemes) Instrument 2016/869 provides certain managed investment, licensing, hawking and disclosure relief in relation to strata schemes and managed rights schemes.

ASIC Corporations (Property Rental Schemes) Instrument 2016/870 provides certain managed investment, licensing, hawking and disclosure relief in relation to property rental schemes.

ASIC Corporations (Charitable Investment Fundraising) Instrument 2016/813 grants conditional relief to charitable investment fundraisers from fundraising, managed investment scheme and debenture provisions in the Corporations Act 2001 (Corporations Act). It also provides exemptions from licensing requirements where a charitable investment fundraiser qualifies as a wholesale charitable investment fundraiser.

ASIC Corporations (School Enrolment Deposits) Instrument 2016/812 provides exemptions to schools that require enrolment deposits from certain managed investment scheme registration requirements, as well as from specific disclosure, fundraising and licensing obligations under the Corporations Act.

ASIC Corporations (Horse Schemes) Instrument 2016/790 provides conditional relief to promoters and managers of small-scale horse racing syndicates from the requirement to register the syndicate as a managed investment scheme, and establishes co-regulatory arrangements between ASIC and horse racing governing bodies in Australian states or territories. It also provides exemptions from scheme registration, licensing, product disclosure and hawking provisions of the Corporations Act for operators of certain small-scale, private horse breeding schemes.

ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2016/489 provides relief to responsible entities to address issues that may arise in implementing the tax system for managed investment trusts for a registered scheme. The instrument exempts responsible entities from the duty to treat members who hold interests of the same class equally when making an attribution in accordance with the Income Tax Assessment Act 1997 (ITA Act). It also modifies the Corporations Act to provide an alternative method by which the responsible entity may modify the scheme constitution to enable it to be operated as an attribution managed investment trust in accordance with the ITA Act.

Under the Legislation Act 2003, legislative instruments are repealed, or ‘sunset’, after 10 years, unless ASIC acts to preserve them.