ASIC issues report on relief applications - September to November 2007

The Australian Securities and Investments Commission (ASIC) has released a report outlining its recent decisions on applications for relief from the corporate finance, financial services and managed investment provisions of the Corporations Act (the Act) between 1 September and 30 November 2007. 

The report, Overview of decisions on relief applications (September to November 2007) )pdf) provides an overview of situations where ASIC has exercised, or refused to exercise, its exemption and modification powers from the financial reporting, managed investment, takeovers, fundraising and financial services provisions of the Act.

The report also highlights instances where ASIC decided to adopt a no-action position regarding specified non-compliance with the provisions.