Contents
Chapter 1—Introductory 1
Part 1.0—Miscellaneous 1
1.0.01.................... Name of Regulations.......................................................... 1
1.0.01A................. Commencement.................................................................. 1
1.0.02.................... Interpretation....................................................................... 1
1.0.02A................. Prescribed financial market............................................... 13
1.0.03.................... Prescribed forms (Act s 350)............................................ 13
1.0.03A................. Documents that must be in the prescribed form................ 14
1.0.03B.................. Documents that must be lodged with ASIC...................... 15
1.0.03C.................. Documents that must be in a form approved by ASIC..... 16
1.0.04.................... Directions and instructions in forms................................. 16
1.0.05.................... Documents and information required by forms................ 17
1.0.05A................. Lodgment with ASIC....................................................... 17
1.0.06.................... Annexures accompanying forms...................................... 18
1.0.07.................... General requirements for documents................................ 18
1.0.08.................... Information to accompany financial documents lodged for financial years 20
1.0.09.................... Information to accompany financial documents etc lodged for half‑years 21
1.0.10.................... Continuous disclosure notices.......................................... 22
1.0.11.................... Certain documents to be signed by personal representatives etc 22
1.0.12.................... Form of notice of resolution............................................. 23
1.0.13.................... Time for lodging documents............................................. 23
1.0.14.................... Address of registered office or place of business............. 23
1.0.15.................... Affidavits and statements in writing................................. 23
1.0.16.................... Certification and verification of certain documents........... 24
1.0.17.................... Documents signed or sworn in accordance with the rules 24
1.0.18.................... Prescribed provisions (Act s 53)...................................... 24
1.0.20.................... Copies of orders to be lodged........................................... 24
1.0.21.................... Identification of lodged orders.......................................... 25
1.0.22.................... Territorial application of Act............................................. 25
Part 1.1—Prescribed amounts 26
1.1.01.................... Prescribed amounts........................................................... 26
Part 1.2—Interpretation 27
Division 1—General 27
1.2.01.................... Remuneration recommendations (Act s 9B)..................... 27
Part 1.2A—Disclosing entities 28
1.2A.01................. Securities declared not to be ED securities........................ 28
1.2A.02................. Foreign companies issuing securities under foreign scrip offers etc exempt from disclosing entity provisions.......................................................................................... 28
1.2A.03................. Foreign companies issuing securities under employee share scheme exempt from the disclosing entity provisions......................................................................... 30
Chapter 2A—Registration of companies 31
Part 2A.1—Size of partnerships or associations (Act s 115(2)) 31
2A.1.01................. Size of partnerships or associations.................................. 31
Part 2A.2—Change of place of registration of company (Act s 119A(3)) 33
2A.2.01................. Approval of application for change of place of registration 33
2A.2.02................. Special resolution may be set aside by Court order........... 33
2A.2.03................. Application for change of place of registration................. 34
2A.2.04................. Change of place of registration......................................... 34
Chapter 2B—Basic features of a company 35
Part 2B.6—Names 35
2B.6.01.................. Availability of names (Act s 147)..................................... 35
2B.6.02.................. Consents required for use of certain letters, words and expressions 35
2B.6.03.................. Exemptions from requirement to set out name and ACN on certain documents (Act s 155) 36
Chapter 2C—Registers 37
Part 2C.1—Registers generally 37
Division 2C.1.1—Location of register 37
2C.1.01.................. Form of notice.................................................................. 37
Division 2C.1.2—Right to inspect and get copies of register 38
2C.1.02.................. Form of register................................................................ 38
2C.1.03.................. Improper purposes for getting copy of register................. 38
2C.1.04.................. Information to be included in application for copy of register 38
Division 2C.1.3—Use of information on registers by bodies corporate 39
2C.1.05.................. Contact with members after failure to provide copy of register 39
Chapter 2D—Officers and employees 42
Part 2D.2—Restrictions on indemnities, insurance and termination payments 42
Division 2D.2.2—Termination payments 42
2D.2.01................. Meaning of base salary.................................................... 42
2D.2.02................. Meaning of benefit............................................................ 43
2D.2.03................. When benefit given in connection with retirement from an office or a position 45
Part 2D.6—Disqualification from managing corporations 46
Division 2D.6.1—Automatic disqualification (Act s 206B) 46
2D.6.01................. Prescribed foreign jurisdictions (Act s 206B(7)).............. 46
Part 2D.7—Ban on hedging remuneration of key management personnel 47
2D.7.01................. Hedging arrangements (Act s 206J(3))............................. 47
Chapter 2E—Related party transactions 49
2E.1.01.................. Small amounts given to related entity................................ 49
Chapter 2G—Meetings 50
Part 2G.2—Meetings of members of companies 50
Division 6—Proxies and body corporate representatives 50
2G.2.01................. Authentication of appointment of proxy (Act s 250A)..... 50
Chapter 2K—Charges 51
Part 2K.2—Registration 51
2K.2.01.................. Lien or charge on crop or wool, or stock mortgage, that is a registrable security: prescribed law—subsection 262(5) of the Act............................................. 51
2K.2.02.................. Time period for the provisional registration of charges..... 52
2K.2.03.................. Charge that is a registrable security: specified law—paragraphs 273A(4)(b), 273B(3)(b) and 273C(3)(b) of the Act.............................................................................. 52
Chapter 2L—Debentures 53
Part 2L.2—Duties of borrower 53
2L.2.01.................. Register relating to trustees for debenture holders............ 53
Chapter 2M—Financial reports and audit 54
Part 2M.3—Financial reporting 54
Division 1—Annual financial reports and directors’ reports 54
2M.3.01................. Disclosures required by notes to consolidated financial statements—annual financial reports (Act s 295).......................................................................................... 54
2M.3.03................. Prescribed details (Act s 300A)........................................ 55
Part 2M.4—Auditor 71
2M.4.01A.............. Membership designations (Act s 324BE)......................... 71
2M.4.01................. Notice of appointment of auditors..................................... 71
Part 2M.4A—Annual transparency reports for auditors 72
2M.4A.01.............. Application....................................................................... 72
2M.4A.02.............. Content of annual transparency report (Act s 332B)......... 72
Part 2M.6—Modification of the operation of Chapter 2M of the Act 73
2M.6.01................. Modifications (Act s 343)................................................. 73
2M.6.05................. Conduct of auditor—relevant relationships....................... 73
Chapter 2N—Updating ASIC information about companies and registered schemes 74
Part 2N.2—Extract of particulars 74
2N.2.01................. Particulars ASIC may require in an extract of particulars (Act s 346B) 74
Part 2N.4—Return of particulars 77
2N.4.01................. Particulars ASIC may require in a return of particulars (Act s 348B) 77
Chapter 5—External administration 79
Part 5.1—Arrangements and reconstructions 79
5.1.01.................... Prescribed information for paragraph 411(3)(b) and subparagraph 412(1)(a)(ii) of the Act 79
5.1.02.................... Giving notice under subsection 414(2) or (9) of the Act.. 80
Part 5.2—Receivers, and other controllers, of corporations 81
5.2.01.................... Controller’s notice to owner or lessor of property—how given 81
5.2.01.................... Certified copies of reports................................................. 81
Part 5.3A—Administration of a company’s affairs with a view to executing a deed of company arrangement 82
5.3A.01................. Administrator’s notice of ending of administration........... 82
5.3A.02................. Administrator to specify voidable transactions in statement 82
5.3A.03................. Administrator to lodge notice of appointment................... 82
5.3A.03A.............. Notice of first meeting of creditors................................... 83
5.3A.03AB............ Notice of meeting to decide the company’s future............ 83
5.3A.04................. Notice of change of administrator’s address..................... 84
5.3A.05................. Administrator’s notice to owner or lessor of property—how given 84
5.3A.06................. Provisions included in deed of company arrangement...... 85
5.3A.06A.............. Notice of resolution to wind up voluntarily...................... 85
5.3A.06AB............ Notice of meeting of creditors........................................... 85
5.3A.07................. Administrator becomes liquidator—additional cases........ 85
5.3A.07A.............. Notice of appointment of administrator............................. 87
Part 5.4—Winding up in insolvency 88
5.4.01.................... Application to Court for winding up—prescribed agency 88
5.4.01A................. Notice of application to wind up a company..................... 88
5.4.02.................... Compromise of debt by liquidator—prescribed amount... 89
Part 5.4C—Winding up by ASIC 90
5.4C.01.................. Notice of intention to order winding up of a company...... 90
Part 5.5—Voluntary winding up 91
5.5.01.................... Notice of resolution to wind up voluntarily...................... 91
5.5.02.................... Notice of meeting of creditors........................................... 91
Part 5.6—Winding up generally 92
5.6.01.................... Matters for entry in liquidator’s or provisional liquidator’s books 92
5.6.02.................... Inspection of books kept under section 531 of the Act..... 92
5.6.06.................... Payment into liquidator’s general account......................... 92
5.6.07.................... Deposit of securities......................................................... 92
5.6.08.................... Delivery of securities........................................................ 93
5.6.09.................... Special bank account......................................................... 93
5.6.10.................... Payments out of liquidator’s general account.................... 93
5.6.11.................... Application....................................................................... 94
5.6.11A................. Electronic methods of giving or sending certain notices etc 95
5.6.12.................... Notice of meeting.............................................................. 96
5.6.13.................... Proof of notice.................................................................. 98
5.6.13A................. If telephone conference facilities are available................... 99
5.6.13B.................. Persons, or their proxies or attorneys, participating by telephone 99
5.6.14.................... Time and place of meeting.............................................. 100
5.6.14A................. Advertisement of a meeting............................................ 100
5.6.14B.................. Meetings not convened in accordance with regulations.. 101
5.6.15.................... Costs of convening meetings of creditors etc.................. 101
5.6.16.................... Quorum.......................................................................... 102
5.6.17.................... Chairperson.................................................................... 103
5.6.18.................... Adjournment of meeting................................................. 103
5.6.19.................... Voting on resolutions..................................................... 104
5.6.20.................... Taking a poll................................................................... 105
5.6.21.................... Carrying of resolutions after a poll has been demanded at a meeting of creditors 105
5.6.22.................... Carrying of resolution after a poll has been demanded at a meeting of contributories or members 107
5.6.23.................... Creditors who may vote.................................................. 107
5.6.23A................. Voting status of persons by whom money is advanced to a company 108
5.6.24.................... Votes of secured creditors.............................................. 109
5.6.26.................... Admission and rejection of proofs for purposes of voting 109
5.6.27.................... Minutes of meeting......................................................... 110
5.6.28.................... Appointment of proxies.................................................. 111
5.6.29.................... Form of proxies.............................................................. 112
5.6.30.................... Instruments of proxy...................................................... 114
5.6.31.................... Proxy forms to accompany notice of meetings............... 114
5.6.31A................. Person may attend and vote by attorney.......................... 114
5.6.32.................... Liquidator etc may act as proxy...................................... 115
5.6.33.................... Voting by proxy if financially interested......................... 115
5.6.34.................... Liquidator etc may appoint deputy.................................. 115
5.6.36.................... Time for lodging proxies................................................ 116
5.6.36A................. Facsimile copies of proxies............................................. 116
5.6.37.................... Establishing title to priority............................................. 116
5.6.39.................... Notice to submit particulars of debt or claim................... 116
5.6.40.................... Preparation of a proof of debt or claim........................... 117
5.6.41.................... Disclosure of security..................................................... 117
5.6.42.................... Discounts........................................................................ 117
5.6.43.................... Periodical payments........................................................ 117
5.6.43A................. Debt or claim of uncertain value—appeal to Court......... 118
5.6.44.................... Debt discount rate (Act s 554B)..................................... 118
5.6.45.................... Employees’ wages.......................................................... 118
5.6.46.................... Production of bill of exchange and promissory note....... 119
5.6.47.................... Admission of debt or claim without formal proof........... 119
5.6.48.................... Notice to creditors to submit formal proof...................... 120
5.6.49.................... Formal proof of debt or claim......................................... 120
5.6.50.................... Contents of formal proof of debt or claim....................... 121
5.6.51.................... Costs of proof................................................................. 121
5.6.52.................... Liquidator to notify receipt of proof of debt or claim...... 121
5.6.53.................... Time for liquidator to deal with proofs........................... 121
5.6.54.................... Grounds of rejection and notice to creditor..................... 122
5.6.55.................... Revocation or amendment of decision of liquidator........ 123
5.6.56.................... Withdrawal or variation of proof of debt or claim........... 124
5.6.57.................... Oaths.............................................................................. 125
5.6.58.................... Liquidator to make out provisional list of contributories. 125
5.6.59.................... Time and place for settlement of list................................ 125
5.6.60.................... Settlement of list of contributories.................................. 126
5.6.61.................... Supplementary list.......................................................... 126
5.6.62.................... Notice to contributories................................................... 126
5.6.63.................... Dividend payable only on admission of a debt or claim.. 127
5.6.64.................... Application of regulations 5.6.37 to 5.6.57..................... 128
5.6.65.................... Liquidator to give notice of intention to declare a dividend 128
5.6.66.................... Time allowed for dealing with formal proof of debt or claim 129
5.6.67.................... Declaration and distribution of dividend......................... 130
5.6.68.................... Rights of creditor who has not proved debt before declaration of dividend 130
5.6.69.................... Postponement of declaration........................................... 131
5.6.70.................... Payment of dividend to a person named......................... 131
5.6.70A................. Prescribed rate of interest on debts and claims from relevant date to date of payment 131
5.6.70B.................. Notice of disclaimer........................................................ 131
5.6.71.................... Distribution of surplus in a winding up by the Court..... 132
5.6.72.................... Distribution of surplus as directed.................................. 132
5.6.73.................... Eligible unsecured creditor.............................................. 132
5.6.74.................... Interpretation: prescribed countries................................. 133
5.6.75.................... Publication in the prescribed manner.............................. 133
Chapter 5B—Bodies corporate registered as companies, and registrable bodies 135
Part 5B.2—Registrable bodies 135
5B.2.01.................. Certified copies of certificates of incorporation etc......... 135
5B.2.02.................. Manner of certifying constituent documents................... 135
5B.2.03.................. Manner of sending letters (Act ss 601CC(2) and 601CL(3)).. 136
5B.2.04.................. Manner of sending notices (Act ss 601CC(3) and 601CL(4)) 136
5B.2.05.................. Prescribed countries (Act s 601CDA(a))........................ 136
5B.2.06.................. Notices (Act s 601CV(1)).............................................. 137
Part 5B.3—Names of registrable Australian bodies and foreign companies 138
5B.3.01.................. Availability of names (Act s 601DC)............................. 138
5B.3.02.................. Consents required for use of certain letters, words and expressions 138
5B.3.03.................. Exemptions from requirement to set out ARBN etc on certain documents (Act s 601DG) 139
5B.3.04.................. Notices (Act s 601DH (1))............................................. 139
Chapter 5C—Managed investment schemes 140
Part 5C.1—Registration of managed investment schemes 140
5C.1.01.................. Applying for registration................................................ 140
5C.1.02.................. Change of name of registered schemes........................... 140
5C.1.03.................. Modification (Act s 601QB)........................................... 141
Part 5C.2—The responsible entity 142
5C.2.01.................. Duty of responsible entities’ agents—surveillance checks 142
5C.2.02.................. Appointment of temporary responsible entities............... 142
5C.2.03.................. Form of notices (Act ss 601FL(2) and 601FM(2))........ 142
5C.2.04.................. Notice of appointment of temporary responsible entities 142
5C.2.05.................. Form of notices (Act s 601FP(3)).................................. 142
Part 5C.4—The compliance plan 143
5C.4.01.................. Agents’ authorities to be lodged..................................... 143
5C.4.02.................. Agents to assist auditors of compliance plans................. 143
Part 5C.5—The compliance committee 144
5C.5.01.................. Responsible entities etc to assist compliance committees 144
Part 5C.9—Winding up 145
5C.9.01.................. Notice of commencement of winding up........................ 145
Part 5C.11—Exemptions and modifications 146
Division 1—Exemptions 146
5C.11.01................ Certain schemes not managed investment schemes......... 146
Division 2—Modifications 150
5C.11.02................ Modifications.................................................................. 150
5C.11.03................ Register of members of registered schemes (Act s 169(1)) 150
5C.11.03A............. How to work out the value of an interest........................ 150
5C.11.04................ Names of registered schemes (Act s 601EB(1))............. 150
5C.11.05A............. Schemes not required to be registered (Act s 601ED).... 150
5C.11.06................ Liability of responsible entities (Act s 601FB(4))........... 151
Chapter 5D—Licensed trustee companies 152
Part 5D.1—Preliminary 152
5D.1.01................. Prescribed requirements for publication.......................... 152
5D.1.01A.............. Meaning of trustee company.......................................... 152
5D.1.02................. Meaning of traditional trustee company services and estate management functions 152
5D.1.03................. Meaning of mortgage‑backed security........................... 155
5D.1.04................. Interaction between trustee company provisions and State and Territory laws 156
Part 5D.2—Powers etc of licensed trustee companies 158
Division 2.1—Annual Information Returns 158
5D.2.01................. Obligation on licensed trustee company to provide an annual information return if requested 158
5D.2.02................. Information to be included in annual information return. 160
Division 2.2—Common funds 161
5D.2.03................. Common funds............................................................... 161
5D.2.04................. Establishment of common funds..................................... 161
5D.2.05................. Deciding details about common funds............................ 161
5D.2.06................. Operation of common funds........................................... 162
5D.2.07................. Register of investments................................................... 165
5D.2.08................. Financial reports............................................................. 166
Part 5D.3—Regulation of fees charged by licensed trustee companies 168
5D.3.01................. Modification of section 601TAB of the Act: disclosure to clients of changed fees 168
Part 5D.4—Obligations of receiving company after transfer 169
5D.4.01................. Preserving rights under dispute resolution systems and compensation arrangements 169
Chapter 6—Takeovers 170
Part 6.2—Exceptions to the prohibition 170
6.2.01.................... Prescribed circumstances (Act s 611)............................. 170
6.2.02.................... Other prescribed circumstances (Act s 611)................... 171
Part 6.5—The takeover procedure 172
6.5.01.................... Wholesale holder of securities—telephone monitoring during bid period 172
Part 6.6—Variation of offers 173
6.6.01.................... Right to withdraw acceptance......................................... 173
Part 6.8—Acceptances 174
6.8.01.................... Acceptance of offers made under off‑market bid............ 174
6.8.02.................... Acceptances by transferees and nominees of offers made under off‑market bid 174
Part 6.10—Review and intervention 175
6.10.01.................. Application for review of Panel decision (Act s 657EA) 175
Chapter 6A—Compulsory acquisitions and buy‑outs 176
Part 6A.1—Compulsory acquisitions and buy‑outs after takeover bid 176
6A.1.01................. Terms on which securities to be acquired....................... 176
Chapter 6CA—Continuous disclosure 177
6CA.1.01............... Continuous disclosure: other disclosing entities............. 177
Chapter 6D—Fundraising 178
Part 6D.2—Disclosure to investors about securities 178
6D.2.01................. Exemption—member shares........................................... 178
6D.2.02................. Exemption—foreign companies...................................... 178
6D.2.03................. Sophisticated investors................................................... 178
6D.2.04................. Simple corporate bonds—base prospectus..................... 178
6D.2.05................. Simple corporate bonds—offer‑specific prospectus....... 183
6D.2.06................. Simple corporate bonds—key financial ratios relevant to issuing body 186
Part 6D.5—Fundraising—miscellaneous 188
6D.5.01................. Warrants that are securities............................................. 188
6D.5.02................. Modification of paragraph 708(8)(c) of the Act: renewal period for accountants’ certificates 188
Note about these Regulations
These Regulations are made under the Corporations Act 2001. To assist users of these Regulations, these Regulations follow, as far as possible, the drafting style, structure and numbering of the Corporations Regulations 1990 that were made under the Corporations Act 1989. Because some provisions of the Corporations Regulations 1990 are not remade in these Regulations, some gaps appear in the numbering of these Regulations. Also, the drafting style departs in minor ways from that used in the Corporations Regulations 1990.
Chapter 1—Introductory
Part 1.0—Miscellaneous
1.0.01 Name of Regulations
These Regulations are the Corporations Regulations 2001.
1.0.01A Commencement
These Regulations commence on the same day as the Corporations Act 2001.
1.0.02 Interpretation
(1) In these Regulations:
ABN (Australian Business Number) has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.
ACH means Australian Clearing House Pty Limited.
Act means the Corporations Act 2001.
agent means a person appointed under subsection 601CG (1) of the Act.
approved deposit fund (or ADF) has the same meaning as in the SIS Act.
approved foreign bank:
(a) in relation to a participant of a licensed market, means a bank:
(i) established by or under the law of a foreign country; and
(ii) in relation to which there is in force an approval given by the market licensee in accordance with its operating rules or by ASIC under the market integrity rules; and
(b) in relation to a financial services licensee other than a participant of a licensed market, means a bank:
(i) regulated by an overseas regulator; and
(ii) in relation to which there is in force an approval given by ASIC for the purposes of this definition.
approved form, in relation to a provision of the Act or of these Regulations, means the form that is approved under paragraph 350 (1)(b) of the Act for use for that provision.
associated provisions, in relation to provisions (the core provisions) of the relevant old legislation as in force at a particular time, include (but are not limited to):
(a) any regulations or other instruments that are or were in force for the purposes of any of the core provisions at that time; and
(b) any interpretation provisions that apply or applied in relation to any of the core provisions at that time (whether or not they also apply or applied for other purposes); and
(c) any provisions relating to liability (civil or criminal) that apply or applied in relation to any of the core provisions at that time (whether or not they also apply or applied for other purposes); and
(d) any provisions that limit or limited, or that otherwise affect or affected, the operation of any of the core provisions at that time (whether or not they also limit or limited, or affect or affected, the operation of other provisions).
ASTC means ASX Settlement and Transfer Corporation Pty Limited.
ASTC certificate cancellation provisions means the provisions of the ASTC operating rules that deal with:
(a) the cancellation of certificates or other documents of title to Division 4 financial products; and
(b) matters incidental to the cancellation of those certificates or documents.
ASTC‑regulated transfer means a transfer of a Division 4 financial product:
(a) within the meaning of:
(i) Division 4 of Part 7.11 of the Act; and
(ii) regulations relating to transfer made for sections 1074A and 1074E of the Act; and
(b) that is effected through ASTC; and
(c) that, according to the ASTC operating rules, is an ASTC‑regulated transfer.
benefit fund has the meaning given by section 16B of the Life Insurance Act 1995.
building society has the same meaning as in section 16 of the RSA Act.
capital guaranteed, for a superannuation product or an RSA product, means that the contributions and accumulated earnings may not be reduced by a negative investment return or a reduction in the value of an asset in which the product is invested.
capital guaranteed FHSA product means an FHSA product:
(a) that is an FHSA deposit account or an FHSA life policy; and
(b) for which the balance may not be reduced other than by the debiting of fees.
capital guaranteed fund means a public offer superannuation fund, or a sub‑fund of a public offer superannuation fund, that has the following characteristics:
(a) its investments comprise 1 or more of the following only:
(i) deposits with an ADI;
(ii) investments in a capital guaranteed superannuation product or RSA product;
(b) the contributions and accumulated earnings of its members cannot be reduced by negative investment returns (within the meaning of subregulation 5.01(1) of the SIS Regulations) or by any reduction in the value of its assets.
capital guaranteed member means a member whose interest in a public offer superannuation fund is fully invested in a capital guaranteed fund.
carbon abatement contract has the same meaning as in the Carbon Credits (Carbon Farming Initiative) Act 2011.
choice product has the same meaning as in the SIS Act.
CPI means the Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Bureau of Statistics.
Division 3 asset means:
(a) shares mentioned in paragraph 1073A(1)(a) of the Act; or
(b) debentures mentioned in paragraph 1073A(1)(b) of the Act; or
(c) interests in a registered scheme mentioned in paragraph 1073A(1)(c) of the Act; or
(ca) a CGS depository interest mentioned in paragraph 1073A(1)(da) of the Act; or
(d) securities mentioned in paragraph 1073A(1)(e) of the Act.
Division 3 rights means:
(a) rights mentioned in paragraph 1073A(1)(d) of the Act; and
(b) rights related to securities mentioned in paragraph 1073A(1)(e) of the Act.
Division 3 securities means Division 3 assets and Division 3 rights.
Division 4 financial product has the meaning given by regulation 7.11.03.
enduring power of attorney means an enduring power of attorney that complies with a law of a State or Territory.
Exchange body means:
(a) Australian Stock Exchange Limited; or
(b) a subsidiary of Australian Stock Exchange Limited.
excluded ADF has the same meaning as in the SIS Act.
exempt public sector superannuation scheme (EPSSS) has the same meaning as in the SIS Act.
FHSA deposit account means an FHSA product of a kind mentioned in subparagraph (c)(i) of the meaning of FHSA in section 8 of the First Home Saver Accounts Act 2008.
FHSA life policy means an FHSA product of a kind mentioned in subparagraph (c)(ii) of the meaning of FHSA in section 8 of the First Home Saver Accounts Act 2008.
financial business means a business that:
(a) consists of, or includes, the provision of financial services; or
(b) relates wholly or partly to the provision of financial services.
form means an approved form or a prescribed form.
friendly society has the meaning given by section 16C of the Life Insurance Act 1995.
FSR commencement means the commencement of item 1 of Schedule 1 to the Financial Services Reform Act 2001.
generic MySuper product: a class of beneficial interest in a superannuation entity is a generic MySuper product if:
(a) the superannuation entity is a regulated superannuation fund; and
(b) the RSE licensee of the fund (within the meaning of the SIS Act) is authorised to offer that class of beneficial interest in the fund as a MySuper product under section 29T of the SIS Act; and
(c) the RSE licensee of the fund (within the meaning of the SIS Act) is not authorised to offer that class of beneficial interest in the fund as a MySuper product because section 29TA or 29TB of the SIS Act is satisfied in relation to the class.