The Corporations Amendment Regulation 2012 (No. 6) has been registered, exempting litigation funding schemes from the definition of a managed investment scheme (MIS) under section 9 of the Corporations Act.

In order to clarify that these arrangements are also not financial products as defined in Chapter 7 of the Act, the Regulation also provides exemptions from the licensing, conduct and disclosure requirements in that Chapter. The Regulation also addresses potential conflicts between the interests of litigation funders and their clients in certain situations, for example when assessing proposed awards or settlements.