Corporations (Fees) Amendment Act 2001

No. 107, 2001

An Act to amend the Corporations (Fees) Act 2001

[Assented to 17 September 2001]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Corporations (Fees) Amendment Act 2001.

2 Commencement

This Act commences on the commencement of item 1 of Schedule 1 to the Financial Services Reform Act 2001.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendment of the Corporations (Fees) Act 2001

1 Subsection 4(1) (at the end of the definition of chargeable matter)

Add:

; (k) the performance by ASIC of:

(i) functions conferred on ASIC by the listing rules of a market as required by subsection 798C(4); and

(ii) any other functions conferred on ASIC by arrangements entered into under subsection 798C(2);

(l) the performance by ASIC of functions provided for in regulations as mentioned in paragraph 798E(2)(b) of the Corporations Act 2001.

2 At the end of subsection 6(3)

Add “, except for a chargeable matter referred to in paragraph (k) or (l) of the definition of chargeable matter in subsection 4(1)”.

3 At the end of section 6

Add:

(4) The fee, or the total of the fees, for chargeable matters referred to in paragraph (k) of the definition of that term in subsection 4(1) that relate to a particular market licensee must not exceed $100,000 in respect of each period of 12 months during which ASIC performs functions referred to in that paragraph in relation to that market licensee.

(5) The fee, or the total of the fees, for chargeable matters referred to in paragraph (l) of the definition of that term in subsection 4(1) that relate to a particular market licensee and a particular conflict, or potential conflict, of a kind referred to in subsection 798E(1) of the Corporations Act 2001, must not exceed $10 0,000 in respect of each period of 12 months during which ASIC performs functions referred to in that paragraph in relation to that market licensee and that conflict or potential conflict.

4 At the end of subsection 7(1)

Add:

; (k) for a chargeable matter referred to in paragraph (k) of that definition:

(i) person liable—the market licensee affected; and

(ii) time liability incurred—the time or times determined in accordance with the regulations;

(l) for a chargeable matter referred to in paragraph (l) of that definition:

(i) person liable—the market licensee affected; and

(ii) time liability incurred—the time or times determined in accordance with the regulations.

[Minister’s second reading speech made in—

House of Representatives on 7 June 2001

Senate on 9 August 2001]

(100/01)