From 27 July 2020, Australian Securities and Investment Commission (ASIC) submissions of certain documents must be lodged online via the new ASIC Regulatory Portal (the Portal). Submission applications through the Portal are known as ‘transactions’.
The following fundraising, corporate finance and relief documents can no longer be lodged via post or email but must be lodged online through the Portal:
Further, offer documents will no longer be published on OFFERlist. These will be lodged through the Portal and published on a new public database named the Offer Notice Board.
The Portal will provide automatic fee estimates based on completed transaction information and allow online payments to be made. Users will also be able to correspond directly with ASIC about specific transactions through a messaging feature.
Portal users can restrict transaction access, providing control over who can edit their transactions including allowing a representative to do so. Only persons with a registered account can access transactions even if invited.
There are four account access levels:
Companies should ensure that directors or other officers who typically lodge documents on the company’s behalf register a Portal account as soon as practicable.
Further information about the ASIC Regulatory Portal can be found on the ASIC website.
This article provides general comments only. It does not purport to be legal advice. Before acting on the basis of any material contained in this article, we recommend that you seek professional advice.
Peter Kupniewski, Principal in our Corporate Team
Direct Telephone: +61 8 8210 2223
Ryan Parker, Law Graduate in our Corporate Team
Direct Telephone: +61 8 8210 2235