Closing a managed investments scheme

Winding up a scheme
Deregistering a scheme
More information

Winding up a scheme

A registered scheme can only be wound up in one of the following circumstances:

by a temporary responsible entity where a new responsible entity could not be appointed within the timeframes specified in the Corporations Act 2001
in accordance with conditions detailed in its constitution
at the direction of its members
where the scheme's purpose is accomplished or cannot be accomplished
by order of a court.

Download a copy of Form 5138

, which must be lodged with us by the responsible entity within 14 days of:

the commencement of the winding up of a scheme, and also
the completion of the winding up of a scheme.

The lodgement fee for each notification is $34.

Unclaimed money or property following the winding up of a scheme

Deregistering a scheme

A responsible entity can only apply for deregistration of a scheme in one of the following circumstances:

the scheme has 20 or less members, all the members agree to the deregistration of the scheme, and there is no other requirement for the scheme to remain registered, or
all the issues of interests in the scheme were excluded issues (ie a product disclosure statement was not required) and all the members agree to the deregistration of the scheme, or
the scheme ceases to be a managed investment scheme.

If the responsible entity has determined that the scheme can be deregistered, it should lodge a copy of Form 6010A

along with documentation that supports the case for deregistration and a fee of $34.

After we approve the deregistration, we publish a notice about the proposed deregistration in the ASIC Gazette. Two months after the Gazette notice is published, we may deregister the scheme.

More information

Road map (topic index) of regulatory documents on managed investments

Frequently asked questions

Financial services homepage

Media releases about managed investment schemes

ASIC Website: Printed 09/04/2010

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