The Australian Securities and Investments Commission
(ASIC) has released a report outlining its recent decisions on
applications for relief from the corporate finance, financial services
and managed investment provisions of the Corporations Act (the Act) between 1 September and 30 November 2007. 

The report, Overview of decisions on relief applications (September to November 2007)
)pdf) provides an overview of situations where ASIC has exercised, or refused
to exercise, its exemption and modification powers from the financial
reporting, managed investment, takeovers, fundraising and financial
services provisions of the Act.

The report also highlights instances where ASIC
decided to adopt a no-action position regarding specified
non-compliance with the provisions.