1ASIC Corporations (Foreign Licensees and ADIs) Instrument 2026/121

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ASIC Corporations (Foreign Licensees and ADIs) Instrument 2026/121

I, Kate Metz, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 24 March 2026

Kate Metz

Contents

Part 1—Preliminary 3

1 Name of legislative instrument……………………………………………. 3

2 Commencement……………………………………………………………. 3

3 Authority …………………………………………………………………… 3

4 Schedules …………………………………………………………………… 3

5 Simplified outline of this instrument …………………………....………….. 3

6 Definitions ………………………………………………………………….. 3

Part 2—Exemption 4

7 Relief from financial reports and record keeping for foreign licensees…… 4

8 Relief from licensing for foreign ADIs …………………………………… 5

Part 3—Repeal 5

9 Repeal ………………………………………………………………………. 5

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Foreign Licensees and ADIs) Instrument 2026/121.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under paragraphs 926A(2)(a) and 992B(1)(a) of the Corporations Act 2001.

4 Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its term.

5 Simplified outline of this instrument

Division 6 of Part 7.8 of the Act sets out requirements for Australian financial services licensees to comply in relation to their financial services businesses.

This instrument provides exemptions for:

(a) foreign licensees, including foreign ADIs, from certain financial reporting and record-keeping obligations in particular circumstances and subject to various conditions; and

(b) foreign ADIs from the requirement to hold an Australian financial services licence in particular circumstances.

6 Definitions

In this instrument:

Act means the Corporations Act 2001.

foreign ADI has the meaning given by section 5 of the Banking Act 1959.