ASIC has issued Consultation Paper 173 Trustee companies: Transfer determinations by ASIC (CP 173) which sets out proposals on what information it will require to properly consider a transfer determination.

CP 173 deals with the three types of transfer determination applications under Part 5D.6 of the Corporations Act it anticipates receiving from trustee companies performing traditional services such as an estate management function. These are:

• voluntary transfers between trustee companies belonging to the same corporate group
• voluntary transfers between unrelated trustee companies, and
• compulsory transfers from one unrelated trustee company to another