Remaking of Sunsetting Instrument without Significant Amendments – Australian Securities and Investments Commission
On September 8, the Australian Securities and Investments Commission (ASIC) remade with only minor amendments the ASIC Corporations (Employee redundancy funds relief) Instrument 2015/1150, which was due to sunset on 1 October 2021. The newly remade ASIC Corporations (Employee redundancy funds relief) Instrument 2021/767 will now sunset on 1 October 2024.
Consistent with Government’s Regulation Impact Statement requirements for sunsetting instruments, ASIC has, after consultation with stakeholders, assessed the instrument as operating effectively and efficiently. Therefore, a Regulation Impact Statement is not required for remaking this instrument.