ASIC Corporations (Related Scheme Reports) Instrument 2025/438

ASIC Corporations (Related Scheme Reports) Instrument 2025/438

made under subsection 341(1) of the Corporations Act 2001
 

Compilation No. 1 

Compilation date: 19/05/2026

Includes amendments up to: F2026L00596

About this compilation

This compilation

This is a compilation of the ASIC Corporations (Related Scheme Reports) Instrument 2025/438 that shows the text of the law as amended and in force on 19/05/2026 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au).

Application, saving and transitional provisions

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. Any modifications affecting the law are accessible on the Register.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1—Preliminary

1 Name of legislative instrument

3 Authority

4 Simplified outline of this instrument

5 Definitions

Part 2—Order

6 Relief enabling one financial report for related schemes

6A    Relief enabling one sustainability report for related schemes

Part 3—Repeal

7 Repeal

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Related Scheme Reports) Instrument 2025/438.

3 Authority

This instrument is made under subsection 341(1) of the Corporations Act 2001.

4 Simplified outline of this instrument
 

5 Definitions

(1) In this instrument:

Act means the Corporations Act 2001.

director means, in relation to a registered scheme, a director (as defined in section 9 of the Act) of the responsible entity of the scheme.

(2) A registered scheme is related to another registered scheme if:

(a) the schemes have the same responsible entity; or

(b) the responsible entities of the schemes are wholly beneficially owned by the same entity.

(3) A period is of the same kind as another period if:

(a) both of the periods are financial years; or

(b) both of the periods are half-years.

Part 2—Order

6 Relief enabling one financial report for related schemes

Relief

(1) A registered scheme (the relevant scheme) and its directors do not have to comply with Part 2M.3 of the Act to the extent that that Part prevents:

(a) the financial report for a financial year (the relevant period) or half year (the relevant period) or concise report for a financial year:

(i) including the single entity or consolidated financial statements, notes to those statements, directors’ report and directors’ declaration about the statements and notes of one or more registered schemes (each an included scheme) that are related to the relevant scheme; and

(ii) in the case of a concise report—omitting the single entity report for the relevant scheme; and

(b) the directors’ report of the relevant scheme including the directors’ report of related schemes.

Where the relief applies

(2) The relief in subparagraph (1)(a)(i) and paragraph (1)(b) is available where all of the following apply:

(a) each financial report of an included scheme is:

(i) a financial report for:

(A) the relevant period; or

(B) another period of the same kind that ends no more than 6 months before or after the end of the relevant period; and

(ii) audited by the same audit company, audit firm or individual auditor as the relevant scheme;

(b) the financial statements for the relevant scheme and each included scheme are presented in adjacent columns in the financial report for the relevant scheme;

(c) in any concise report for the relevant scheme, the consolidated financial statements or the consolidated financial statements and the single entity financial statements for the scheme and each included scheme are presented in adjacent columns;

(d) if an included scheme does not have the same responsible entity as the relevant scheme:

(i) the financial report contains:

(A) a prominent statement to the effect that only the responsible entity of a scheme takes responsibility for the financial report for the scheme; and

(B) a separate directors’ declaration from each responsible entity covering the schemes that the responsible entity operates; and

(ii) there is a separate directors’ report from each responsible entity covering the schemes that the responsible entity operates;

(e) where the directors’ declaration covers more than one registered scheme, each declaration required by subsection 295(4) or 303(4) of the Act (as relevant) is presented in a way that enables each scheme to which it relates to be readily identified;

(f) the financial report for the relevant scheme includes statements indicating:

(i) the extent (if any) to which there are facilities in place for the proceeds of a withdrawal from the relevant scheme to be applied to the acquisition of an interest in any included scheme; and

(ii) whether further interests in the relevant scheme may be issued; and

(iii) where further interests in the relevant scheme may be issued—whether the proceeds of a withdrawal from any included scheme can be applied to acquire an interest in the relevant scheme;

(g) where a directors’ report covers more than one registered scheme, the information included in it is presented in a way that enables each scheme for which any aspect is relevant to be readily identified.

(3) The relief in subparagraph (1)(a)(ii) is available where:

(a) the relief in subparagraph (1)(a)(i) is being relied on in relation to a concise report; and

(b) the concise report includes consolidated financial statements for the relevant scheme.

(4) The headings to the columns referred to in paragraphs (2)(b) and (c) must specify the period covered by the financial statement that is presented in the columns.

6A    Relief enabling one sustainability report for related schemes

Relief 

(1) A registered scheme (the relevant scheme) does not have to comply with Part 2M.3 of the Act to the extent that that Part prevents the sustainability report for a financial year including the sustainability reports of one or more registered schemes (each an included reporting scheme) that are:

(a) related to the relevant scheme; and

(b) required to prepare a sustainability report under subsection 292A(1) of the Act for the financial year.

Note: A sustainability report includes a sustainability report for a consolidated entity: see subsection 292A(2) of the Act.

Where the relief applies

(2) The relief in subsection (1) is available where all of the following apply:

(a) the relevant scheme and each included reporting scheme are relying on the relief in subsection 6(1) in relation to a financial report for the financial year that covers the relevant scheme and each included reporting scheme;

Note:  The financial report may also cover related schemes that are not included reporting schemes.

(b) the sustainability reports of the relevant scheme and each included reporting scheme are audited or reviewed by the same audit company, audit firm or individual auditor;

(c) the sustainability report of the relevant scheme contains a prominent statement identifying where the statements, notes and declaration required by paragraphs 296A(1)(a) to (e) of the Act are located for the relevant scheme and each included reporting scheme;

(d)  the sustainability report of the relevant scheme contains a prominent statement that the relief provided under subsection (1) is being relied upon and an explanation of the effect of the relief;

(e) if an included reporting scheme does not have the same responsible entity as the relevant scheme, the sustainability report contains:

(i) a prominent statement to the effect that only the responsible entity of a scheme takes responsibility for the sustainability report for that scheme; and

(ii) a separate directors’ declaration under paragraph 296A(1)(e) of the Act from each responsible entity covering the schemes that the responsible entity operates;

(f) where the directors’ declaration under paragraph 296A(1)(e) of the Act covers more than one registered scheme, each declaration is presented in a way that enables each scheme to which it relates to be readily identified.

Part 3—Repeal

7 Repeal

This instrument is repealed at the start of 1 October 2030.

Endnotes 

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history