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CS 57 Proposed remake of Corporations Instruments 2016/841, 2016/881, and 2021/889

simple consultation – 57

Released 6 July 2026. Comments close 31 July 2026.

ASIC is seeking feedback on its proposal to remake three legislative instruments that provide relief related to financial market operations.

The proposed legislative instruments to be remade are:

We assessed that the legislative instruments are operating effectively and continue to form a necessary and useful part of the legislative framework.

ASIC proposes to remake the legislative instruments for a period of five years, with minor amendments to simplify the instruments and improve clarity. Where appropriate, amendments have also been made to adopt market-neutral language. The effect of these instruments will remain largely unchanged when remade.

See Related information for copies of the draft instruments.

A consultation paper was not issued for this consultation.

Providing feedback

We invite feedback on our proposal. You should send your submission to rri.consultation@asic.gov.au by 5pm AEST on 31 July 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

Under the Legislation Act 2003, all legislative instruments automatically sunset after 10 years, unless ASIC takes action to preserve them.

ASIC Corporations (Dematerialised Securities: Austraclear) Instrument 2016/841 provides for the operation of dematerialised securities through the Austraclear system by modifying the application of relevant provisions of the Corporations Act 2001 (Corporations Act) to facilitate electronic settlement and transfer without the need for physical certificates. This supports the efficient functioning of financial market infrastructure. The instrument extended the relief that was originally provided in Class Order [CO 02/281] Austraclear.

ASIC Corporations (Disclosure of Directors' Interests) Instrument 2016/881 provides modifications to the application of directors’ interest disclosure requirements under the Corporations Act to address practical implementation issues, including through alignment with relevant ASX Listing Rules. This facilitates more workable compliance with the statutory disclosure regime in a listed entity context. The instrument extended the relief that was originally provided in Class Order [CO 01/1519] Disclosure of directors' interests. The proposed draft of this instrument extends the relief to other declared financial markets who have similar disclosure requirements as the ASX under their listing rules, and adopts a market neutral approach.

ASIC Corporations (Records: Dealings on Foreign Markets) Instrument 2016/889 provides relief from record-keeping obligations under the Corporations Act and Corporations Regulations 2001 in relation to financial services licensees dealing on foreign financial markets, by modifying the operation of regulation 7.8.19. This recognises the practical differences in executing and documenting transactions on overseas markets. The instrument extended the relief that was originally provided in Class Order [CO 03/826] Market related records: Australian financial service licensees dealing on overseas markets.

Related information