Sherry cuts red tape
Amendments have been made to the Corporations Regulations 2001 that ultimately reduce the compliance burden for Australian registered managed investment schemes.
The changes mean managed investment schemes will no longer need to notify the Australian Securities and Investments Commission (ASIC) of their top 20 interest holders each year.
The public will still be able to access information on scheme ownership through scheme members’ registers.
“These amendments will reduce ASIC’s administrative workload and are yet another example of how the Government is identifying unnecessary red tape burdens and systematically removing them,” Minister for Superannuation and Corporate Law Nick Sherry said.
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