Financial Markets Conduct (Lake Edge Resort Limited) Exemption Notice 2024

Lake Edge Resort Limited (LER) is exempted from Part 7 of the Financial Markets Conduct Act 2013 (the FMC Act). 

LER owns and operates a timeshare resort.  Timeshare owners have occupancy rights at the resort at specific times of the year.  LER became an FMC reporting entity when it changed from a unit title structure to a limited liability company structure, whereby the timeshare interests in the unit title scheme were cancelled in exchange for shares in LER.  LER is an FMC reporting entity only because shares issued by LER are regulated products, although the principal purpose of the shares is to provide shareholders with occupation rights to the resort.  

The Exemption Notice provides relief from Part 7 requirements while LER’s revenue is $2 million or less.  The Exemption Notice removes unnecessary compliance burdens imposed by financial markets law on an activity that is not a financial product investment or a financial markets activity, whilst continuing to ensure the provision of timely, accurate and understandable financial information to assist decision making by shareholders.  

Download Financial Markets Conduct (Lake Edge Resort Limited) Exemption Notice 2024 [PDF]