Regulatory Alerts2025-06-30 | RG-136RG 136 Funds management: Discretionary powers
The Australian Securities and Investments Commission issued this guide to explain its approach to exercising exemption and modification powers under the Corporations Act for registered schemes, CCIVs, and passport funds. It outlines common situations where individual relief is granted and defines criteria for aggregating closely related managed investment schemes to determine eligibility for small scheme exemptions. The document serves as a reference for scheme operators, service providers, and advisers regarding regulatory relief and aggregation rules.
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)