CS 57 Proposed remake of Corporations Instruments 2016/841, 2016/881, and 2021/889

ASIC sought feedback, through Consultation Paper CS 57 released on 6 July 2026, on its proposal to remake three legislative instruments due to sunset or expire on 1 October 2026. The instruments are the ASIC Corporations (Dematerialised Securities: Austraclear) Instrument 2016/841, the ASIC Corporations (Disclosure of Directors' Interests) Instrument 2016/881, and the ASIC Corporations (Records: Dealings on Foreign Markets) Instrument 2016/889. Under the Legislation Act 2003, legislative instruments automatically sunset after ten years unless ASIC takes action to preserve them.

ASIC assessed that each of the three instruments continues to operate effectively and forms a necessary part of the existing regulatory framework, and proposed to remake each for a further period of five years with minor amendments intended to simplify the instruments, improve clarity and adopt market neutral language. ASIC has said the practical effect of each instrument would remain largely unchanged following the remake. No consultation paper setting out detailed options was issued separately from the proposal itself, and submissions closed on 31 July 2026.

Following the consultation, ASIC made the ASIC Corporations (Disclosure of Directors' Interests) Instrument 2026/758, registered on 15 September 2026, replacing the 2016 instrument referred to above. Businesses and officeholders relying on the relief provided by any of the three original instruments should confirm that the replacement instruments are in force before the 1 October 2026 sunset date, to avoid any gap in the relief previously available.