Australia’s corporate regulator has proposed keeping two forms of managed-investment-scheme relief in force for another five years, while retiring a legacy time-share provision that it considers little used.
The Australian Securities and Investments Commission opened consultation on 13 November because the existing instruments are due to sunset on 1 April 2027. One tailors the managed-investment-scheme framework for time-sharing products. The other allows responsible entities of ASX-listed registered schemes to conduct on-market buy-backs subject to conditions.
ASIC proposes to retain the core time-share settings dealing with matters including subject-to-finance rights, hardship, points programs, disclosure, fees, valuations, rental pools and forfeited interests. It would, however, remove transitional relief for operators that still rely on an older class order for rental pools. ASIC said it expects few entities continue to depend on that provision; any that do could seek individual relief.
For listed schemes, the regulator would preserve safeguards requiring constitutional authority, protection of creditors, ordinary-course market trading, compliance with the relevant listing-rule controls, cancellation of bought-back interests and member approval where the “10/12” limit is exceeded.
The consultation also notes separate work to extend the listed-scheme relief to declared financial markets. That proposed amending instrument has not yet been registered.
Submissions are due by 5pm AEDT on 11 December 2026. The proposals remain under consultation and do not yet alter the operative instruments.
ASIC’s consultation notice contains the proposed approach and response details.
