ASIC Corporations (Non-Reporting Entities) Instrument 2025/436
Commonwealth Coat of Arms and ASIC logo
ASIC Corporations (Non-Reporting Entities) Instrument 2025/436
I, Claire LaBouchardiere, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.
Date 19 September 2025
Claire LaBouchardiere
Contents
Part 1—Preliminary 3
1 Name of legislative instrument....................................3
2 Commencement...............................................3
3 Authority....................................................3
4 Simplified outline of this instrument...............................3
5 Definitions...................................................3
Part 2—Order 4
6 Relief for entities that are not reporting entities.......................4
Part 3—Repeal 5
7 Repeal.......................................................5
Part 1—Preliminary
1 Name of legislative instrument
This is the ASIC Corporations (Non-Reporting Entities) Instrument 2025/436.
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 subsection 341(1) of the Corporations Act 2001.
4 Simplified outline of this instrument
| This instrument sets out an exemption from the financial reporting requirements under Part 2M.3 of the Act so that an entity that is not a reporting entity under the accounting standards can comply with the same recognition and measurement requirements in relation to a financial report that apply to reporting entities. |
|---|
5 Definitions
In this instrument:
Act means the Corporations Act 2001.
measurement requirement means a requirement in an accounting standard that is relevant to working out the cost or other value to be attributed to an asset, liability, revenue, expense or other item that is covered by a recognition requirement.
recognition requirement means a requirement in an accounting standard that an asset, liability, revenue, expense or other item is to be expressly reported on, or incorporated in amounts expressly reported on, in a financial statement to which the standard relates.
reporting entity has the same meaning as in Accounting Standard AASB 1057 Application of Australian Accounting Standards.
Part 2—Order
6 Relief for entities that are not reporting entities
Relief
(1) A company or registered scheme (each a non-reporting entity) that is not a reporting entity does not have to comply with subsection 292(1), subsection 296(1) and section 297 of the Act in relation to a financial report for a financial year to the extent that those provisions require the financial report to comply with a recognition requirement or a measurement requirement that would not have applied to a reporting entity.
Where relief applies
(2) The relief in subsection (1) is available where the non-reporting entity takes all reasonable steps to ensure that the financial report complies with all recognition requirements and all measurement requirements as if it were a reporting entity.
Part 3—Repeal
7 Repeal
This instrument is repealed at the start of 1 October 2030.