ASIC Corporations Serviced Apartment and Like Schemes Instrument 2016/869
Summary
ASIC Corporations Instrument 2016/869 provides exemptions from financial services licensing, scheme registration, and share hawking prohibitions for operators of serviced apartment schemes and like schemes under the Corporations Act 2001. The instrument applies conditional relief including breach reporting obligations for operators, exemptions for real estate selling agents, and specific valuation requirements for strata schemes where strata units are acquired for at least $500,000. Transitional provisions cover schemes previously regulated under ASIC Class Orders CO 02/245, CO 02/303, CO 02/304, CO 07/189, and ASIC Pro Forma 186.
Serviced apartment operators currently relying on ASIC class order relief (CO 02/245, CO 02/303, CO 02/304, CO 07/189, or PF 186) should confirm their ongoing eligibility under this instrument's conditions, particularly the breach reporting requirements and any changes to valuation or compliance plan standards.
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What changed
ASIC Corporations Instrument 2016/869 grants relief from Australian financial services licensing, scheme registration requirements, and hawking prohibitions for operators of serviced apartment schemes and like schemes. Part 2 exempts management rights scheme operators from registration, licensing, and share hawking provisions subject to breach reporting conditions. Part 3 provides relief for registered schemes including property valuation and compliance plan modifications. Part 4 extends relief to strata schemes where all strata units are acquired for at least $500,000. Affected parties including serviced apartment operators, real estate selling agents, and strata scheme operators should review these exemptions to determine whether their current licensing and registration obligations are modified by this instrument.
Archived snapshot
Apr 23, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
- Interactions
ASIC Corporations (Serviced Apartment and Like Schemes) Instrument 2016/869
In force Administered by
- Department of the Treasury
This item is authorised by the following title:
- Corporations Act 2001 Latest version View as made version F2026C00341 C03 27 March 2026
View document Legislative instrument Filter active Table of contents
- Part 1—Preliminary
- 1 Name of legislative instrument
- 3 Authority
- 4 Definitions
- Part 2—Exemptions for management rights schemes
- 5 Exemption for operators from requirement to register the scheme, hold a financial services licence and the share hawking provisions
- 6 General conditions on operators other than promoter developers
- 7 Breach reporting condition for operators other than promoter developers
- 8 Exemption for a real estate (selling) agent from the requirement to hold an Australian financial services licence
- 9 Exemption for other persons from the prohibition on hawking
- 10 Procedures for transferring management rights
- Part 3—Relief for registered schemes
- 11 Valuation of property of registered serviced apartment schemes
- 12 Consequential modification of compliance plan requirements
- Part 4—Relief for strata schemes
- 13 Strata scheme where all strata units acquired for at least $500,000
- Part 5—Transitional
- 14 Schemes covered by ASIC Class Orders [CO 02/245], [CO 02/303] and [CO 02/304]
- 15 Schemes covered by ASIC Class Order [CO 07/189]
- 16 Schemes covered by ASIC Pro Forma 186
- Endnotes
- Endnote 1—About the endnotes
- Endnote 2—Abbreviation key
- Endnote 3—Legislation history
- Endnote 4—Amendment history
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