Register a Managed Investment Scheme under Ch 5C
Schemes with 20+ retail members must be registered with ASIC as MIS.
Who must comply
Schemes meeting MIS definition with 20+ retail members.
What triggers it
Crossing the 20-member retail threshold; complex MIS test.
When due
Before reaching threshold; ongoing.
Evidence required
ARSN, compliance plan, RE AFSL with MIS authorisation, audit reports.
Max penalty
Operating unregistered MIS is criminal; civil + criminal penalties for serious breach
Summary
Chapter 5C of the Corporations Act requires schemes with 20+ retail members to be registered as Managed Investment Schemes. Registration requires a Responsible Entity (RE) with the right AFSL authorisations, compliance plan + compliance committee, plus scheme constitution.
Enforced by
Source legislation
Entity types
Topics
Source: https://asic.gov.au/regulatory-resources/financial-services/managed-investment-schemes/. Rules Mate is not a law firm. Always verify against the live regulator source before acting.