AustraliaMy managed property fund was not properly registered. Can I get my money back?
Yes, you may be entitled to a full refund of your investment if the managed investment scheme was not registered with ASIC as required by law.
What the Law Says
The Corporations Act 2001 (Cth) strictly regulates managed investment schemes in Australia. If a scheme is not registered with ASIC, it is unlawful to offer interests in it — and investors have a clear statutory right to recover their money.
Under section 601ED of the Corporations Act 2001 (Cth), a person who acquires an interest in an unregistered managed investment scheme has a right to recover the amount paid for that interest. This right applies regardless of whether the investor knew the scheme was unregistered.
The law treats the acquisition as voidable at the investor’s option. You do not need to prove fraud or negligence — the mere fact of non-registration triggers the right to repayment.
This right must be exercised within two years after the date you acquired the interest, as set out in section 601ED(3).
Statutory TextA person who acquires an interest in a managed investment scheme that is not registered under this Chapter may, within 2 years after acquiring the interest, recover from the responsible entity the amount paid by the person for the interest.
— Corporations Act 2001 (Cth), s. 601ED(1) — Recovery of amounts paid for interests in unregistered schemes
Statutory TextThis section applies whether or not the person knew, or could reasonably be expected to have known, that the scheme was not registered.
— Corporations Act 2001 (Cth), s. 601ED(2) — Knowledge irrelevant
What to Do
Contact the responsible entity in writing and demand repayment under section 601ED of the Corporations Act.
If they refuse or do not respond within 30 days, lodge a complaint with ASIC via asic.gov.au/complain.
Consider seeking legal advice — you may also apply to court for enforcement if necessary.
Keep all records: application forms, payment receipts, correspondence, and dates of investment.
Sources
Not legal advice. This article is general information based on publicly available sources, written for educational purposes. Laws change and individual situations vary. Consult a licensed attorney in your jurisdiction before acting on anything you read here. Last reviewed: 2026-06-08.