23 February 2021 - ASIC sets five-year sunset date for litigation funding legislative instrument

ASIC has revised the duration of relief relating to litigation funding schemes. The primary instrument commenced on 22 August 2020 and provided exemptions from certain provisions in Chapters 5C and 7 of the Corporations Act 2001 for litigation funding schemes. The relief was provided to facilitate the implementation of the (then) new regulatory framework for litigation funding schemes.