On 10 December 2022 the commencement of Corporations Amendment (Litigation Funding) Regulations 2022 came into force making litigation funding schemes exempt from the managed investment scheme Australian financial services licensing product and disclosure and anti-hawking regimes in the Corporations Act 2001.
ASIC has extended the relief until 31 January 2026.The existing relief was due to expire on 31 January 2023. Relief has been extended by ASIC Corporations and Credit (Amendment and Repeal) Instrument 2022/1032.
ASIC has also revoked the now redundant relief for registered litigation funding schemes in ASIC Corporations (Disclosure in Dollars) Instrument 2016/767 and ASIC Corporations (Litigation Funding Schemes) Instrument 2020/787.
Aequitas Litigation Funding is regulated under Corporate Authorised Representative number 1289389 and Licensed under Axiis Capital AFSL 523464 who act as the “responsible entity” managing investor funds.