Released 11 August 2026. Comments close 8 September 2026.
ASIC is seeking feedback on its proposal to extend the operation of eight legislative instruments that are currently scheduled to self-repeal in 2027.
We have assessed that each instrument included in the consultation is operating effectively and efficiently and continues to form a necessary and useful part of the legislative framework. ASIC proposes to amend only the self-repeal date for each instrument, so that the instruments continue to operate until their sunsetting date.
The instruments we propose to extend, and their proposed new expiry/sunset dates, are listed in Table 1.
Table 1: Instruments proposed for extension and their revised repeal dates
Key proposal
We propose to amend only the self-repeal date for each instrument, so that each instrument continues to operate until its aligned sunsetting date.
ASIC has assessed the above instruments and confirmed for each that:
- the instrument operates effectively and efficiently, and continues to be a useful and necessary part of the regulatory framework, and
- no amendments to the instrument are necessary, other than amending the self-repeal date.
Impact Analysis
Before settling the final position, we will consider the regulatory impact of the proposal under the Australian Government Impact Analysis Framework. As we are proposing to preserve the existing effect of the instruments by extending their operation, we expect the proposal to maintain the current regulatory settings.
Questions for stakeholders
- Do you support ASIC’s proposal to extend the operation of the eight instruments by amending their self-repeal dates?
- Are there any matters ASIC should consider before extending any of the instruments?
- Would allowing any of the instruments to self-repeal cause practical or regulatory issues? Please provide details.
A consultation paper was not issued for this consultation.
Providing feedback
Feedback should be sent to rri.consultation@asic.gov.au by 5pm AEST on 8 September 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.
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Background
ASIC legislative instruments may include a self-repeal provision that causes the instrument to expire on a specified date. ASIC has introduced a process to support the efficient review and extension of self-repealing instruments that are operating effectively and efficiently, continue to be useful and necessary, are not controversial and do not require substantive amendment.
Overview of instruments proposed for extensions
ASIC Instrument 2018/313 addresses a technical limitation in the ASX 24 New Trading Platform, which does not enable market participants to input aggregate loss limits into the trading platform. The instrument exempts market participants from the relevant Futures Rules requirements on certain conditions.
ASIC Instrument 2022/301 exempts authorised representatives from notifying ASIC of the sub-authorisation of employees who provide claims handling and settling services in relation to general insurance and consumer credit insurance products.
ASIC Instrument 2022/809 provides conditional relief from requirements to give a Cash Settlement Fact Sheet or confirmation of a transaction where doing so would pose an unacceptable risk of a person experiencing family violence.
ASIC Instrument 2022/705 imposes specific financial requirements on issuers of over-the-counter derivatives to retail clients. The requirements are intended to ensure retail OTC derivative issuers have sufficient financial resources to meet anticipated expenses and unexpected operating losses.
ASIC Instrument 2022/496 provides relief to avoid unnecessary duplication and administrative cost where multiple substantially similar Product Disclosure Statements (PDSs) are issued for employer-sponsored superannuation products, permits superannuation trustees to direct members to online product dashboards instead of enclosing hard copies, and provides certainty while regulations for choice product dashboards have not been made.
ASIC Instrument 2022/497 provides relief giving issuers of certain complex products the option to provide a full PDS instead of a shorter PDS, provides superannuation trustees with flexible ways to give disclosure for accessible financial products, and allows superannuation trustees and platform operators to deliver PDSs through agents.
ASIC Instrument 2022/910 provides relief from the requirement for certain authorised representatives to give a Financial Services Guide where they deal in general insurance products or bundled consumer credit insurance products and provide claims handling and settling services.
ASIC Instrument 2022/1021 relates to the employee share scheme regime and continues relief that facilitates the employee share scheme provisions in Part 7.12 of the Corporations Act.
Related information
ASIC proposes to extend financial services, credit and markets legislative instruments