ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849

ASIC Corporations (Wholesale Equity Scheme Trustees) Instrument 2017/849 has been remade and continues in force, providing that eligible trustees of wholesale equity schemes are not required to hold an Australian Financial Services Licence for providing financial services in relation to those schemes. The instrument sets out conditions for reliance on the relief, including that the scheme meets the $10 million minimum threshold, is registered, and the trustee is eligible. Part 3 preserves the transitional operation of the former ASIC Class Order [CO 07/74].

Trustees and fund managers operating wholesale equity schemes should confirm their schemes satisfy the eligibility conditions under this instrument and maintain compliance with the ongoing requirements. Eligible trustees relying on this relief should document their compliance with the $10 million threshold and scheme registration conditions. This instrument's remaking ensures continuity of licensing relief for the wholesale equity scheme sector.