Sustainability reporting and audit relief decisions register

This register contains some of our decisions on relief applications under Chapter 2M of the Corporations Act in relation to sustainability reporting. This register does not provide details of every single decision made. This register excludes financial reporting relief applications.

Section 340 exemption orders are not gazetted. The purpose of this register is to improve the level of transparency and the quality of information available about decisions we make when we are asked to exercise ASIC’s discretionary powers to grant relief from the sustainability reporting provisions in Chapter 2M. It summarises examples of situations where we have exercised, or refused to exercise, ASIC’s exemption and modification powers from the sustainability reporting and audit provisions.

On this webpage, references to sections (s), chapters (Chs) and parts (Pts) are to the Corporations Act, unless otherwise specified.

Date of relief instrument	Relevant provisions of the Corporations Act	Entity type	Relief given	Reasons for decision	Conditions of relief	Duration of relief
19/6/2025	s292A(1)	Company	We granted relief to three wholly owned entities of a registered superannuation entity (RSE) so that they do not have to prepare a sustainability report for the first financial year in which they would otherwise be required to do so. The three wholly owned entities are unlisted companies that meet the threshold for sustainability reporting as part of ‘group 1’. The wholly owned entities have no material external operations and primarily provide internal support services to entities within the RSE group. The RSE satisfies the threshold for sustainability reporting as part of ‘group 2’ and is not required to prepare a sustainability report until the second financial year in which the wholly owned entities are required to do so. Under the accounting standards, the RSE is required to prepare financial statement on a consolidated basis, which includes the wholly owned entities. The wholly owned entities do not require relief in subsequent reporting periods because the RSE intends to elect to prepare a consolidated sustainability report for the consolidated entity under s292A(2) from the RSE’s first reporting period.	We granted relief because we were satisfied the costs of preparing standalone audited sustainability reports for just one financial year would impose unreasonable burden on the wholly owned entities, where: the three wholly owned entities primarily perform internal support functions and services to the RSE group cumulative greenhouse gas emissions of the three wholly owned entities represent an estimated less than 1% of the group’s absolute greenhouse gas emissions, and the climate-related financial disclosures of the three wholly owned entities would only be available for one reporting period if relief were refused.	The financial reports of each of the subsidiaries contain a summary of the relief provided.	One financial year