Federal Register of Legislation - Australian Government

Primary content

SLI 2012 No. 312 Regulations as made
This regulation amends the Mutual Assistance in Business Regulation Regulations. The instrument allows Australian business law regulators to share information with their foreign counterparts for the purposes of general supervision.
Administered by: Treasury
Registered 12 Dec 2012
Tabling HistoryDate
Tabled HR05-Feb-2013
Tabled Senate05-Feb-2013
Date of repeal 14 Dec 2012
Repealed by Division 1 of Part 5A of the Legislative Instruments Act 2003

Commonwealth Coat of Arms

Mutual Assistance in Business Regulation Amendment Regulation 2012 (No. 1)1

Select Legislative Instrument 2012 No. 312

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the Mutual Assistance in Business Regulation Act 1992.

Dated 6 December 2012

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

BERNIE RIPOLL


1              Name of regulation

                This regulation is the Mutual Assistance in Business Regulation Amendment Regulation 2012 (No. 1).

2              Commencement

                This regulation commences on the day after it is registered.

3              Amendment of Mutual Assistance in Business Regulation Regulations

                Schedule 1 amends the Mutual Assistance in Business Regulation Regulations.


Schedule 1        Amendments

(section 3)

 

[1]           Regulation 1

substitute

1              Name of regulations

                These Regulations are the Mutual Assistance in Business Regulation Regulations 1992.

[2]           Regulation 3

substitute

3              Definition

                In these Regulations:

                Act means the Mutual Assistance in Business Regulation Act 1992.

Note   For the definitions of the following terms, see subsection 3 (1) of the Act:

·      foreign business law

·      foreign regulator

·      foreign request.

[3]           Regulation 5

omit

For the purposes of

insert

         (1)   For the purposes of

[4]           Subparagraphs 5 (a) (i), (ii) and (iii)

substitute

                          (i)    any periods of time to which the request relates; and

                         (ii)    the names, and last known addresses, of individuals to whom, or bodies corporate to which, the request relates or refers;

[5]           Paragraph 5 (d)

substitute

               (d)    a copy of the relevant foreign business law, and an English translation if the law is not in English;

[6]           Paragraph 5 (n)

substitute

               (n)    the name and contact details of an officer of the foreign regulator who is familiar with the subject matter of the request and who will be available to answer any questions in relation to the request from an officer of the Commonwealth regulator.

[7]           Regulation 5

insert

         (2)   If the foreign request is in relation to a suspected contravention of a foreign business law, the following additional information is required:

                (a)    a description in general terms of the conduct under investigation;

               (b)    a statement of the way in which the facts give rise to a belief or suspicion that the foreign business law has been, or may have been, contravened.

[8]           Further amendments

Provision

omit

insert

Paragraphs 5 (b) and (c)

sought; and

sought;

Paragraphs 5 (e) and (f)

regulator; and

regulator;

Paragraph 5 (g)

relates; and

relates;

Paragraph 5 (h)

documents; and

documents;

Paragraph 5 (j)

used; and

used;

Paragraph 5 (k)

request; and

request;

Paragraph 5 (l)

information; and

information;

Paragraph 5 (m)

available; and

available;


Note

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.