ASIC Form CF06 Sets Lodgement Checklist for Cross-Guarantee Deeds Under Wholly-Owned Companies Relie

Key Takeaways

• ASIC has published Form CF06 and an accompanying guide that standardize how deeds of cross-guarantee, assumption deeds, notices of disposal, and revocation deeds are lodged under ASIC Corporations (Wholly-owned Companies) Instrument 2016/785.
• Use of the form is optional, but it is designed to speed up ASIC's assessment.
• Compliance teams in corporate groups relying on financial reporting relief should use it to avoid rejected or late lodgements.

Deep Dive

ASIC has published Form CF06 and an accompanying guide that standardize how deeds of cross-guarantee, assumption deeds, notices of disposal, and revocation deeds are lodged under ASIC Corporations (Wholly-owned Companies) Instrument 2016/785. Use of the form is optional, but it is designed to speed up ASIC's assessment. Compliance teams in corporate groups relying on financial reporting relief should use it to avoid rejected or late lodgements.

The form is a cover sheet for four document types: deed of cross-guarantee (Pro forma 24, code 351), assumption deed (Pro forma 27, code 352), notice of disposal (Pro forma 25, code 353), and revocation deed (Pro forma 26, code 355). It requires holding company details, lodgement contact details, a page count, and a signed certification that the information is true and complete. The form is dated 10 October 2016 and the guide 4 July 2018. The listed 2026-09-16 date appears to reflect a republication or website update, not a new substantive change. No new obligations are introduced, and teams should confirm whether any underlying requirements have changed.

The guide works as a pre-lodgement checklist. For deeds of cross-guarantee and assumption deeds, it asks whether:
- the deed matches the pro forma exactly, apart from company names and date;
- the deed and the relevant fee are lodged together with certification by a legal practitioner holding a current practicing certificate;
- all ACNs/ARBNs are correct in the deed schedule and solvency statements;
- all companies relying on relief are eligible (paragraphs 6(a) and 6(b));
- the deed was executed correctly;
- an alternative trustee exists where the trustee is a group entity (clause 7.1 of PF24);
- all wholly-owned entities in the closed group are included; and
- a director of each company seeking relief signed the solvency statement (paragraph 6(g)(ii)).

Revocation deeds must be substantially in the form of PF26. They must be executed by every party to the deed, including the trustee, group entities, and related entities, with the company seal witnessed properly. Releasing the trustee along with group entities requires two deeds, the second using "Alternative Trustee" wording. Notices of disposal must be substantially in the form of PF25 and signed by a director or secretary of the holding company. If the disposal is a sale, directors must certify that it is bona fide and that the consideration is fair and reasonable.

The key timing requirement is that a deed must be lodged before the end of the financial year for which relief first applies (paragraph 6(m)). Missing this deadline risks losing relief, which would require affected subsidiaries to prepare and lodge their own audited financial reports. Recommended actions:
- Build the guide into group legal and financial reporting calendars.
- Verify entity eligibility and closed group membership each year, especially after acquisitions, disposals, or restructures.
- Engage legal practitioners early for certification.
- Maintain a register of deeds, assumption deeds, disposals, and revocations.
- Use the checklist as an internal quality control step.

Risk impact is moderate. Errors in form, execution, ACNs, or certification could invalidate relief, causing reporting costs, potential breaches of the Corporations Act 2001, and audit findings. Lodgement is by post, and the form collects personal information handled under ASIC's privacy policy, so teams should handle contact details appropriately.

Source: Australian Securities and Investments Commission