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News about schemes or scheme sections closed at transition

20 October 2016

We have made a change in the register that now allows managed investment schemes (or scheme sections) that are closed to new members at transition to provide fund updates.

 

How do I do this?

To do this, you’ll have to register a ‘skeleton’ offer but won’t have to provide a Product Disclosure Statement (PDS) or its associated register data entry.

When you register your offer, please remember to indicate that you’re transitioning a scheme that’s closed so the register doesn’t ask you to supply a PDS or associated data. You do this by selecting the checkbox ‘Scheme or scheme section(s) closed at transition’ (the box will display on the offer details tab when you select your scheme. For managed fund offers, you’ll also indicate whether the scheme is closed to all investment or closed to new investors.

Once you’ve registered your offer, you’ll receive compliance reminders via your Disclose Register dashboard, in the usual way.

 

When do I need to do this?

You can file your first fund update when you register your offer. If your scheme has an obligation to file fund updates annually, generally the first fund update (and therefore offer registration) won’t be due until 2017.