Objective 1.1

Ease of movement of people, capital, services and data across borders

Action 1.1G

The Government will work within the Asia Region Funds Passport Joint Committee to encourage use of the passport.

Department of the Treasury

Industry
recommendation/s
Description
Government response
Related Action/s
12D

Use APEC forums to seek an expansion in the membership of the Asia Region Funds Passport and actively explore opportunities for interoperability with the similar European Union (UCITS) and ASEAN (CIS) passport schemes.

Agreed-in-principle

Progress to date

Australian collective investment schemes can now be exported and the schemes of other member countries can be imported through the Asia Region Funds Passport. Australia is working with other members to increase awareness and encourage use of the Passport by industry.

In the 2021-22 Budget, the Government committed to finalise the corporate collective investment vehicles (CCIV) regime with a revised commencement date of 1 July 2022.