ASIC is seeking feedback on a proposal to remake two legislative instruments.
These provide technical relief relating to Australian financial services (AFS) licensees (and persons providing financial services on their behalf) and make minor updates to certain prescribed credit disclosures.
ASIC Corporations (Miscellaneous Technical Relief) Instrument 2015/1115, and ASIC Credit (Updated details for prescribed disclosure) Instrument 2016/200 (the Instruments) are due to sunset on 1 April 2026.
We have assessed that the instruments are operating effectively and continue to form a necessary part of the legislative framework.
ASIC proposes to remake:
- the relief provided under ASIC Instrument 2015/1115, without substantial change other than amendments to ensure the instrument is up to date, and
- the relief in paragraph 5(a) of ASIC Instrument 2016/200, but not paragraphs 5(b) and (c), as Schedules 7 and 9 of the National Consumer Credit Protection Regulations 2010 (Credit Regulations), to which those paragraphs relate, have been repealed.
Providing feedback
Please send your submissions to rri.consultation@asic.gov.au by 5pm AEDT on Friday 23 January 2026.
Refer to CS 41 Proposed remake of miscellaneous technical relief and updated credit disclosure instruments
Background
Under the Legislation Act 2003, legislative instruments are repealed, or ‘sunset’, after 10 years, unless ASIC acts to preserve them.
Miscellaneous technical relief
ASIC Instrument 2015/1115 makes technical or machinery changes to various provisions of the Corporations Act 2001 (Corporations Act) relating to:
- those who are exempt from the requirement to hold an Australian financial services licence, to extend the operation of those provisions to persons exempted by ASIC under subsection 926A(2) of the Corporations Act;
- the lodgement or publishing of supplementary or replacement documents under Chapter 6, Chapter 6D and Part 7.9 of the Corporations Act, to extend the operation of those provisions so that references to the original document in an ASIC Instrument also include any supplementary or replacement documents lodged or published after the original.
Prescribed credit disclosure relief
ASIC Instrument 2016/200 modifies:
- the reverse mortgage information statement prescribed in Sch 5A of the Credit Regulations to remove a paragraph containing out of date information, and
- warnings about small amount credit contracts prescribed in the now repealed Schs 7 and 9 of the Credit Regulations to update out of date contact details for Centrelink.
