Managed investment schemes — exemption

Circumstances/Transactions:

Managed investment schemes (MIS) within the meaning of Chapter 5C of the Corporations Act 2001 (Cth) may apply for an exemption for:

• a transfer of property from the responsible entity of the MIS to a custodian or agent of the responsible entity
• a transfer of property from the custodian or agent of the responsible entity of the MIS to the responsible entity
• an instrument that amends, varies or replaces an instrument that establishes or governs the MIS where these changes do not have particular consequences for the scheme property or the number of members in the scheme.

If an exemption is sought for:

• prescribed interest schemes, or
• an MIS that is not currently registered by the Australian Securities and Investments Commission (ASIC), please contact us. 

Evidence:

1. The full name of the MIS including:
   1. Australian Business Number (ABN).
   2. Australian Registered Scheme Number (ARSN).
   3. Date of registration of the MIS with ASIC.
2. Full name of the responsible entity including their:
   1. ABN
   2. Australian financial services licence number. 
   3. Full name of the custodian including their ABN.
   4. Has the MIS ever been deregistered?
      1. If so, please provide details about the reasons for deregistration and the duration of deregistration.
      2. How many units are there in this MIS at the time of this transaction.
   5. If the MIS has less than 20 members, please provide a list or register of the current members.
   6. For transfers from a responsible entity to a custodian or from a custodian to a responsible entity, please provide the following:
      1. For transfers of real property (land and buildings):
         1. Property street address including state and postcode.
         2. Certificate of title details.
         3. State the interest in land that is being transferred, for example, full (100%), a half interest (50%), etc.
      2. For land use entitlements:
         4. Name of the company or unit trust.
         5. ACN or ABN.
         6. State the share or unit classification/range (for example, 100 Class B shares OR shares numbered 1 to 99).
      3. Provide details of any dutiable goods transferred with the land or land use entitlement.
   7. For dutiable transfers of shares or units in a landholder (if applicable):
      1. Name of the landholder.
      2. ACN.
      3. Please also complete SRO Duties Form 58 Landholder Acquisition Statement and submit it online.
   8. For transfers of motor vehicles (if applicable):
      1. State the registration number of the motor vehicle, its make, its model and its vehicle identification number.
   9. Date of transfer
      State the date of transfer
   10. For the instruments which amends, varies or replaces the governing instrument (note: the establishing or governing instrument of the MIS is referred to as the first instrument and the amending, varying or replacement instrument of the MIS is referred to as the second instrument):
       1. How many persons held units in the MIS before and immediately after the second instrument took effect.
       2. What changes have been made to the original, executed first instrument of the MIS.
       3. State who the parties to the amending/varying or replacement instrument are and the date of its execution.
       4. What effect these changes have on the MIS and its members.
       5. Why these changes are being made.
       6. Does this change to the establishing or governing instrument have the effect of causing a reduction or redemption of interests in the MIS. 
   11. Declarations
       The information supplied may be declared by the director or authorised officer for the responsible entity or an agent for the responsible entity.
       Please provide the following contact details for the declarant:
       1. Full name.
       2. Capacity of declarant (e.g. director, authorised officer or agent for the responsible entity).
       3. Registered business address of the responsible entity and custodian.
       4. Postal address.
       5. Phone number.
       6. Email address.
   12. Checklist
       For all applications please provide copies (or originals where indicated) of the following documents (as applicable):
       1. The MIS's establishing or governing instrument (the first instrument), with any amendment to date.
       2. Proof of registration as a MIS.
       3. Any deed or agreement relating to the appointment of or powers of the responsible entity, with any amendments (where these powers are not included in the first instrument).
       4. The responsible entity's Australian financial services licence.
       5. Any deed or agreement relating to the appointment of or powers of the custodian or agent of the responsible entity, with any amendments (where these powers are not included in the first instrument).
       6. If the MIS has less than 20 members, a list or register of the current members.
       7. The original transfer instrument relating to the transfer.
       8. Any deed or contract pursuant to which the transfer occurred.
       9. SRO Duties Form 58 Landholder Acquisition Statement. 
       10. The original amending, varying or replacement instrument (the second instrument).