S/C/N/ 961 
15 October 2019 
(19-6698) Page: 1/3 
Council for Trade in Services  Original:  English  
  
  
NOTI FICATION PURSUANT TO ARTICLE VII :4 
OF THE GENERAL AGREEMENT  ON TRADE IN SERVICES  
 
 
The following notification , dated 15 October  2019, from the delegation s of Australia, Japan , Republic 
of Korea, New Zealand and Thailand  is being circulated to the Members of the Council for Trade in 
Services.  
 
 
_______________  
 
 
1  MEMBER NOTIFYING : 
Australia, Japan, Republic of Korea, New Zealand, Thailand  
 
2  NOTIFICATION UNDER  ARTICLE:   
Article VII, paragraph 4 , of the General Agreement on Trade in Services  
 
3  DATE OF ENTRY INTO FORCE : 
1 February 2019  
 
3.1  Duration:  
Indefinite  
4  AGENCY RESPONSIBLE FOR ENFORCEMENT OF THE MEASURE : 
Australia - Australian Securities and Investments Commission  
Japan – Financial Services Agency, Japan  
Republic of Korea – Korea Financial Services Commission  
New Zealand – New Zealand Financial Markets Authority  
Thailand - The Securities and Exchange Commission, Thailand  
 
5  DESCRIPTION OF THE MEASURE : 
On 28 April 2016, Australia, Japan, the Republic of Korea and New Zealand signed a Memorandum 
of Cooperation on the establishment and implementation of the Asia Region Funds Passport (ARFP). 
Thailand signed the Memorandum on 30 June 2016. The ARFP commence d on 1 February 2019.  
 
The ARFP is an initiative of the Asia Pacific Economic Cooperation Group (APEC), and provides a 
multilateral framework to facilitate the passporting (cross -border marketing and sale) of managed 
funds across participating economies in  the Asia region. The ARFP is intended to establish a regional 
market for collective investment schemes by facilitating cross -border offerings across participating 
economies.  
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  In Australia, legislative changes for the Asia Region Funds Passport have been i mplemented through 
the Corporations Amendment (Asia Region Funds Passport) Act 2018 . 
 
In Japan, "Implementation Guidelines for Application Procedures for Registering " is published 
in 2017, which set s out the procedures for both exports funds and imports fu nds. (Please see 
following URL) https://www.fsa.go.jp/en/faq/others/others_d.html  
 
In the Republic of Korea, the revision of relevant law, "Financial Investment Services and Capital 
Markets Act" was proposed by the government to allow for implementation of ARFP and it is currently 
under review in the National Assembly.  
In New Zealand, regulatory changes for the Asia Region Funds Passport have been implemented 
through the Financial Markets Conduct (Asia Region Funds Passport) Regulations 2019 and the 
Financial Markets Conduct (Asia Region Funds Passport) Amendment Regulations 2019 amending 
the Financial Markets Conduct Regulations 2014.  
 
In Thailand, the Asia Region Funds Passport ha s been implemented under Notification of the Capital 
Market Supervisory Board No. Tor Jor. 4/2561 by virtue of the Securities and Exchange Act B.E.  2535 
(1992).  
6  MEMBERS SPECIFICALLY AFFECTED, IF ANY : 
None 
 
7  TEXT AVAILABLE FROM : 
Australia  
Australian Securities and Investments Commission  
Telephone:  +61 3 5177 3988  
Email:  arfp@asic.gov.au   
Postal:  GPO Box 9827, Brisbane QLD 4001  
Web:   https://asic.gov.au/regulatory -resources/funds -management/new -developments -in-
funds -management/asic -to-update -guidance -for-funds -management -industry -supporting -asia-
region -funds -passport -regime/  
 
Japan  
Financial Services Agency, Japan  
Telephone:  +81 3 3506 6000 (Ext. 3897, 3817)  
Email:  intl-se@fsa.go.jp   
Postal:  3-2-1 Kasumigaseki, Chiyoda -ku Tokyo 100 -8967 Japan  
Web:   https://www.fsa.go.jp/en/faq/others/others_d.html  
 
Republic of Korea  
Korea Financ ial Services Commission  
Telephone:  +82 2 2100 2663  
Email:  83yjh@korea.kr  
Postal:  Seoul Government Complex, 209 Sejong -daero, Jongno -gu, Seoul, Republic of Korea  
 
New Zealand  
New Zealand Financial Markets Authority  
Telephone:  00 64 3 962 2698  
Email:  questions@fma.govt.nz   
Postal:  PO Box 1179, Wellington 6140, New Zealand  
Web:   https://www.fma.govt.nz/compliance/offer -information/asia -region -funds -passport/  
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  Thailand  
Securities and Exchange Commission, Thailand  
Telephone:  (+66) 2263 656 6, (+66) 2263 6221  
Email:  nichaya@sec.or.th , piravade@sec.or.th  
Postal:  333/3 Vibhavadi -Rangsit Road, Cho mphon, Chatuchak Bangkok 10900, Thailand  
Web:   https://www.sec.or.th/EN/Pages/LawandRegulations/AsiaRegionFundsPassport.aspx  
 
 
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