meta_id 3214443

On June 2026, the Australian Securities and Investments Commission (ASIC) launched a consultation on its proposal to withdraw ASIC Corporations (Uncontactable Members) Instrument 2016/187 before it expires on October 1, 2026. ASIC assessed that the instrument is no longer being used due to changes in the Corporations Act 2001 (Corporations Act). Sections 110JA and 110F (4A) of the Corporations Act now provide similar relief where a member is uncontactable, making the instrument redundant. The relief previously provided exemptions to companies, registered schemes, disclosing entities, and notified foreign passport funds from obligations to provide annual reports to members who could not be contacted. ASIC notes that entities not covered by the relief provisions in the Corporations Act may need to apply to ASIC for individual relief aligned with Regulatory Guide 43: Financial reporting and audit relief (RG 43) if the proposal to withdraw the instrument proceeds. This change affects financial services entities that currently rely on the instrument to manage reporting obligations for uncontactable members. The withdrawal would streamline regulatory relief by consolidating provisions into the primary legislation, reducing the need for separate instruments. Stakeholders can submit feedback to rri.consultation@asic.gov.au by 5pm Australian Eastern Standard Time on Friday, July 17, 2026. ASIC will consider all submissions before determining whether to proceed with the withdrawal of the instrument.