asic responsible entity definition
A company cannot be chosen or appointed as a responsible entity unless it is a public company that holds an Australian financial services (AFS) licence authorising it to operate the registered scheme (see section 601FA of the Corporations Act 2001 (the Act)).e will not accept a Form 5107 for lodgement unless the new responsible entity has an AFS licence authorising the operation of the scheme and the members' meetings have been held as required under section 601FL or 601FM.