Ministerial Determination Trustee Company Transfer of Estate Assets and Liabilities Ch 5D Corporations Act 2001 (Cth)

6 August 2012    

Mr Greg Medcraft

Chairman
Australian Securities and Investments Commission
GPO Box 9827
SYDNEY  NSW  2001

Dear Mr Medcraft

I write in reference to trustee companies and their voluntary transfer of estate assets and liabilities under Chapter 5D of the Corporations Act 2001.

I note that for ASIC to make a transfer determination for the transfer of trustee company estate assets and liabilities, Ministerial consent is required for the transfer, unless it has determined that consent is not required.

Accordingly, I have decided that my consent is not required for all voluntary transfers of estate assets and liabilities between companies within the same corporate group (an intra-group transfer) and voluntary transfers between unrelated companies (an arm’s length transfer).

Yours sincerely

BILL SHORTEN