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ASIC provides example documents to reduce burden on business

ASIC has issued an information sheet and practical example illustrating the type of information typically required in an application for relief. These documents supplement ASIC’s Policy Statement [PS 51] Applications for Relief and provide practical guidance for applicants who request an exemption or modification under the Corporations Act. ‘While it’s not mandatory to refer to these documents, we’ve prepared them as an illustration of the sort of material that is often needed to finalise a decision whether or not to grant relief’, said ASIC’s director of regulation, John Price. ‘By using these documents, applicants can minimise the amount of time needed in dealing with regulatory requirements.’ These documents were produced as part of ASIC’s Better Regulation Initiatives that aim to achieve better and more transparent regulation.

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