Running a managed investments scheme

 

Auditing compliance plans

Responsible entities must appoint an auditor of the compliance plan. The auditor must conduct an audit of the compliance plan within 3 months of the end of the financial year of the registered scheme and provide a report to the responsible entity.

Responsible entities must lodge their compliance plan audit report with us, together with a copy of Form 5111, within three months of the end of the financial year. A lodgement fee of $39 is applicable. There are penalties for failing to lodge these reports on time.

ASIC monitors the lodgement of these reports on an ongoing basis. You may be contacted by us for an explanation of why you have not lodged your report on time.
 

Appointing or ceasing an auditor of a scheme

Download a copy of the form as a PDF file:

5131 Application for appointment of scheme auditor by member of a registered scheme
5132 Application for consent from ASIC for resignation or removal of scheme auditor
5133 Notification of resignation, removal or cessation of a registered scheme auditor
5137 Notification of appointment of scheme auditor


Mail your form and the fee stated in the guide to the form to:

Australian Securities & Investments Commission
GPO Box 9827
In your capital city.

Resignation and removal of auditors of registered schemes or compliance plans
 

Annual statements and solvency resolutions

Within 2 weeks of your review date (usually the anniversary of your scheme's registration date) you'll receive a paper copy of your annual statement through the post. A response is only required if the particulars in the annual statement are incorrect.
 
More information about annual statements
 

Lodging the financial accounts and audit of a scheme

Responsible entities must prepare a financial report and directors' report each financial year for all registered schemes and lodge them online with us

Registered schemes that have to prepare or obtain a report for a financial year (this includes the financial report, directors' report and auditor's report) must lodge the report with us. The time for lodgement is within 3 months after the end of the financial year.
 
More information on financial reporting
 

Applying for relief

 

Changing the name of a scheme

To change the name of a scheme, its responsible entity must lodge a copy of Form 5140 with us. The proposed name of the scheme must not be the same as the name of a registered or proposed scheme for which an application has already been lodged.

As the name of a scheme is reflected in the scheme's constitution, the responsible entity must also lodge a modified or replacement constitution showing the name change: see modifying or replacing constitutions below for details.
 

Modifying or replacing constitutions

The responsible entity must lodge with us a copy of the modification or the replacement constitution. The modification, or repeal and replacement, cannot take effect until the copy has been lodged.

The responsible entity must also lodge with us a consolidated copy of the scheme's constitution if we direct it to do so.

Download a copy of Form 5101 and lodge it with the modification or replacement constitution and the fee stated in the guide to the form by mailing to:

Australian Securities & Investments Commission
GPO Box 9827
In your capital city.

 

Modifying or replacing compliance plans

A responsible entity must lodge a copy of a modification or replacement compliance plan with us within 14 days after the modification is made or the compliance plan is repealed accompanied by the prescribed fee of $39.

Each director of the responsible entity must sign the modification or replacement compliance plan for us to accept lodgement. A modification or replacement compliance plan may be signed by an agent of the directors. In this case, the agent's authority or copy of the agent's authority verified by a director of the responsible entity must be lodged.

We can request a responsible entity lodge a consolidated copy of a compliance plan with us.

A modified or replacement compliance plan should describe how the responsible entity will comply with its legal obligations and the constitution. For more information see: 
 
Regulatory Guide 132 Managed investments: Compliance plans [formerly PS 132] 
Regulatory Guide 116 Commentary on compliance plans: Agricultural industry schemes
Regulatory Guide 117 Commentary on compliance plans: Financial asset schemes
Regulatory Guide 118 Commentary on compliance plans: Contributory mortgage schemes
Regulatory Guide 119 Commentary on compliance plans: Pooled mortgage schemes
Regulatory Guide 120 Commentary on compliance plans: Property schemes

Lodge a modification or replacement compliance plan by lodging it at an ASIC service centre or mailing it to:

Australian Securities and Investments Commission
GPO Box 9827
In your capital city
  

Changing the responsible entity of a registered scheme

You must notify us of a change of the responsible entity of a registered scheme within 2 business days after the resolutions are passed.
  

ASIC's regulatory documents on managed investments

For a topic index of our regulatory documents and class orders on managed investments go to our managed investments road map.
 
You can also subscribe to our publication ASIC Managed Investment Handbook. It contains these regulatory guides together with associated class orders and pro formas that grant relief from the relevant provisions of the law.
 
More information about subscribing to the ASIC Managed Investment Handbook
 

More information

Starting a scheme
Closing a scheme
Uncontactable members of a registered scheme
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Last updated: 20/10/2014 12:00