Regulation Impact Statement Updates

Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.

Remaking Of Sunsetting Instrument Without Significant Amendments

Aust Gov
14th March 2017

Australian Securities and Investments Commission

The Australian Securities and Investments Commission (ASIC) is remaking its Class Order [CO 03/217] Differential fees, which is scheduled to sunset on 1 April 2017, without significant amendments.

Under equal treatment requirements set out in Section 601FC(1)(d) of the Corporations Act 2001, responsible entities are prohibited from charging different fees to members of the same class. Subject to certain conditions, [CO 03/217] allows a responsible entity to discriminate between registered managed investment scheme members in relation to fees.

Consistent with the Australian Government’s best practice regulation requirements for sunsetting instruments, ASIC has assessed that the regulation is operating effectively and efficiently. Therefore, under the Government’s best practice requirements, a Regulation Impact Statement (RIS) is not required for remaking this Regulation.

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