Late last year, we provided two blogs (
Part I and
Part II) on the obligation of AFSL holders to notify ASIC of a
change in control to their entity. (Click
here to read Part III of our series on the obligations of ACL
holders to notify ASIC of a change in control to their entity.)
This blog is an update to that series, and examines the new
obligation to update ASIC about changes in control resulting from
the reforms to create the new Financial Adviser Register.
Recap: Notifying ASIC of a change in control in the
licensee
Our first two blogs explained that:
- all companies have an obligation to notify ASIC of changes to
its details. This includes changes to its members, changes to share
structure, changes to directors and secretaries, and if there is a
change to the ultimate holding company of a proprietary company.
Such changes are generally made to ASIC using a Form 484, and need
to be made within 28 days of the change; and
