IMF#211098 v1IMF (Australia) LtdGPO Box 5457Sydney NSW...

IMF#211098 v1
IMF (Australia) Ltd
GPO Box 5457
Sydney NSW 2001
Freecall 1800 016 464
RELEASE TO AUSTRALIAN SECURITIES EXCHANGE (ASX)
16 FEBRUARY 2010
Further progress report
Managed Investment Schemes
1. In its progress report dated 1 February 2010 the Board of Directors of IMF (Australia) Ltd
referred to five matters which ASIC had, at that time, declined to exempt from the
requirements of the Corporations Act in relation to Managed Investment Schemes.
2. In that report IMF set out that it would make application for registration of the five cases
as Managed Investment Schemes while, at the same time, seeking administrative review
of the ASIC decisions to decline exemption.
3. Prior to taking either of those steps IMF requested that ASIC reconsider its refusals to
exempt.
4. ASIC has now provided documents of exemption for the two Great Southern Group
actions against the Responsible Entity and various of its Directors for damages.
5. Those cases will now proceed in the Supreme Court of Western Australia.
6. Other requests for reconsideration remain outstanding.
7. In the meantime, IMF has applied for licensing as a Responsible Entity. Such a license
would enable IMF to operate any un-exempted cases as Managed Investment Schemes
once the schemes are registered under the Act.
Diane Jones
Chief Operating Officer