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RG 136 Funds management: Discretionary powers

regulatory guide – 136

Issued 30 June 2025

This guide is for operators of registered managed investment schemes (registered schemes), corporate collective investment vehicles (CCIVs) and passport funds, their service providers and advisers.

It explains our approach to exercising ASIC’s exemption and modification powers to grant individual relief from requirements under the Corporations Act and, where relevant, the Corporations (Passport) Rules 2018 (Australian Passport Rules) for managed investment schemes and Australian passport funds.

It also explains:

  • some of the more common situations when we have granted, and when we are likely to grant, relief, and
  • when we will consider managed investment schemes as closely related so that they should be aggregated in determining if some exemptions for small schemes apply.

Download RG 136 (PDF 610 KB)