Published responses

View submitted responses where consent has been given to publish the response.

Overview

The Government is seeking submissions on draft Asia Region Funds Passport (Passport) and Corporate Collective Investment Vehicle (CCIV) Bills and explanatory materials. The Bills will insert two new chapters to the Corporations Act 2001 establishing a regulatory framework for the Passport and CCIV regimes.

The exposure drafts do not contain consequential amendments to other parts of the Corporations Act or to other laws. The draft explanatory materials draw out some areas where consequential amendments are likely to impact on the interpretation of the provisions included in the exposure drafts.

Background

The Passport is a common framework of coordinated regulatory oversight to facilitate cross border issuing of managed investment funds. Australia, Japan, Korea, New Zealand and Thailand are signatories to the Passport’s Memorandum of Cooperation (MoC), which took effect on 30 June 2016.

CCIVs will offer an internationally recognisable investment vehicle which can be readily marketed to foreign investors, including through the Passport.

Roundtables

Treasury is also hosting a number of roundtable meetings to facilitate targeted consultation.

If you are interested in attending a roundtable, please make an expression of interest to civreform@treasury.gov.au by 30 August 2017.

Documents

Preparing your submission
ARFP Explanatory Material [PDF] | [DOCX]
ARFP Draft Bill [PDF] | [DOCX]
CCIV Explanatory Material [PDF] | [DOCX]
CCIV Draft Bill [PDF] | [DOCX]
ARFP Slides [PDF] | [PPTX]
CCIV Slides [PDF] | [PPTX]

What happens next

The consequential amendments and any revisions to the core chapters will be consulted on at a later date.

The Government will also consult on a tax framework and ASIC will consult on regulatory guidance for both Bills prior to the laws taking effect.