Guidance · ASIC · 4 Jun 2026 · RG-071

RG 71 Downstream acquisitions

The Australian Securities and Investments Commission issued this guide to assist companies, listed managed investment schemes, investors, and advisers involved in downstream acquisitions. It explains the downstream acquisition exemption under item 14 of section 611 of the Corporations Act and clarifies when ASIC may grant relief for potential breaches of section 606. The document outlines the conditions applicable to such relief and provides instructions on how to apply, noting that applications must be submitted through the ASIC Regulatory Portal from 27 July 2020.

AustraliaAustralian Securities and Investments Commission

Issued 24 August 2016
This guide is for companies, listed managed investment schemes, investors and their advisers who are involved in, or affected by, downstream acquisitions.

In some circumstances, a downstream acquisition may breach s606 of the Corporations Act.

This guide explains:

the downstream acquisition exemption in item 14 of s611 (item 14)

when we may grant relief

the conditions that may apply to our relief, and

how to apply for relief.

Note:
From 27 July 2020, applications for relief should be submitted through the ASIC Regulatory Portal . For more information, see how you apply for relief .

Download RG 71 (PDF 681 KB)

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