• AST ASIC reissued Regulatory guide 5 - relevant interests and substantial shareholding notices (hereafter, RG 5), which is a guide for investors who acquire an interest in the securities of a company or managed investment scheme, and their advisers.
• RG 5 supersedes June 2013 version, reissued November 2013, August 2020; and it includes revisions such as the removal of references to class orders no longer in existence.
• Follows AST GVT March 2023 registered instruments re relevant interests.

Outline of RG 5

• AST ASIC explained that RG 5 aims to assist investors and their legal advisers to understand and apply the concept of a relevant interest in securities, and its relevance to the takeover as well as substantial shareholding requirements of the ASTCA.
• It explains requirement for a person to disclose the relevant interest in voting shares and voting interests that they and their associates have when they acquire or maintain a substantial shareholding in a listed company, body, or managed investment scheme.
• Outlines class order modifications to relevant interest, and substantial shareholding provisions.
• In addition, it guides regarding topics of options; warrants; and escrow arrangements.