Released 12 November 2026. Comments close 10 December 2026.
We propose to remake ASIC Corporations (Application Form Requirements) Instrument 2017/241 (ASIC Instrument 2017/241) with amendments to simplify its drafting, ensure it is up to date and aligns with ASIC’s current drafting style. ASIC Instrument 2017/241 provides exemptions from requirements in the Corporations Act 2001 (Corporations Act) relating to application forms for the issue of securities and other financial products to retail clients.
We have assessed that the legislative instrument, which is due to expire on 1 April 2027, is operating effectively and efficiently, and continues to form a necessary and useful part of the legislative framework.
The draft remade instrument is available under ‘Related links’ below. The draft refers to ASIC Corporations (Capital Reductions and Reconstructions—Technical Disclosure Relief) Instrument 2017/242 that is also due to expire on 1 July 2027, which will be consulted on separately.
A consultation paper was not issued for this consultation.
Providing feedback
Before settling on a final instrument, we will comply with the Australian government impact analysis framework. To assist us to understand the impact of our proposal to remake ASIC Instrument 2017/241, please provide feedback on the questions below, covering impact analysis and the specific issue of foreign country eligibility:
- What compliance costs or savings do you expect to incur if we remake the relief as proposed, compared to requiring full compliance with the Corporations Act? Please provide specific details and dollar estimates for any upfront and ongoing costs/savings.
- If we did not remake ASIC Instrument 2017/241 and allowed it to expire, what impact would this have on your current business operations? Please provide specific details.
- Do you consider we should add Belgium, Portugal and Norway to the ‘eligible foreign country’ definition in ASIC Instrument 2017/241 (and ‘relevant foreign jurisdiction’ definition in ASIC Corporations (Financial Product Advice—Exempt Documents) Instrument 2026/718)? Please provide specific details if so.
Feedback deadline
You should send your submission to rri.consultation@asic.gov.au by 5 pm AEDT on 10 December 2026.
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Background
ASIC Instrument 2017/241 provides relief from certain requirements in the Corporations Act relating to application forms. This relief applies to:
- switching arrangements
- reconstructions and capital reductions
- bonus offers of options, and
- issues and sales of financial products where a product disclosure statement is not required.
The instrument also modifies certain disclosure, advertising and publicity requirements and permits the use of application forms that are created by an Australian financial services (AFS) licensee.