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ARTICLE · 03 OCTOBER 2024

FACT SHEET: The AFSL Variation Process

Holley Nethercote
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A guide for the AFSL variation process

AustraliaCorporate/Commercial Law
Frank Varga
Frank Varga
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How do I apply to vary an AFS licence?

The application process is completed using an online form (ASIC Form FS03) via the AFS licence portal, where you will be asked whether the application is to vary licence authorisations (i.e. financial services, financial products or clients) and/or licence conditions (i.e. amending or removing the key person condition). Where the variation involves licence authorisations, you will be required to attest that you have systems and processes in place, as you did when applying for the original AFS licence.

Some supporting documentation about the licensee and key personnel (Responsible Manager(s)) also needs to be prepared and submitted with the application. The supporting documentation and Responsible Managers warrant further discussion and are explained in more detail in the following sections.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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