On 29 September 2025, the Australian Securities and Investments Commission (ASIC) issued ASIC Corporations (Managed investment product consideration) Instrument 2025/629 (ASIC Instrument 2025/629) which continues the relief previously provided under ASIC Corporations (Managed investment product consideration) Instrument 2015/847 (ASIC Instrument 2015/847), with minor changes.
Sunset
ASIC Instrument 2015/847 was due to sunset on 1 October 2025 but following a consultation ASIC has assessed that the relief is operating effectively and efficiently and continues to form a necessary and useful part of the legislative framework.
As such ASIC has issued ASIC Instrument 2025/629 which maintains the relief and applies to managed investment schemes (other than time-share schemes) registered before 1 October 2013 that have not opted in to rely on ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693.
Minor changes
The minor changes introduced by ASIC Instrument 2025/629 include:
- extending the financial markets within the scope of the relief; and
- simplifying the requirements to document exercises of discretion affecting the pricing of interests and reducing the level of prescription in those provisions.
The simplified documentation requirements are consistent with those requirements in ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693.