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Corporations Regulations 2001

Authoritative Version
  • - F2018C00052
  • In force - Superseded Version
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SR 2001 No. 193 Regulations as amended, taking into account amendments up to Corporations Amendment (Crowd-sourced Funding) Regulations 2017
Principal Regulations. These Regulations repeal the Corporations Regulations 1990 and the Partnerships and Associations Application Order 1999 (No. 1)
Administered by: Treasury
Registered 11 Jan 2018
Start Date 01 Jan 2018
End Date 09 Feb 2018
Table of contents.
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Collapse Volume 1Volume 1
Collapse Chapter 1—IntroductoryChapter 1—Introductory
Collapse Part 1.0—MiscellaneousPart 1.0—Miscellaneous
1.0.01 Name of Regulations
1.0.02 Interpretation
1.0.02A Prescribed financial market
1.0.03 Prescribed forms (Act s 350)
1.0.03A Documents that must be in the prescribed form
1.0.03B Documents that must be lodged with ASIC
1.0.03C Documents that must be in a form approved by ASIC
1.0.04 Directions and instructions in forms
1.0.05 Documents and information required by forms
1.0.05A Lodgment with ASIC
1.0.06 Annexures accompanying forms
1.0.07 General requirements for documents
1.0.08 Information to accompany financial documents lodged for financial years
1.0.09 Information to accompany financial documents etc lodged for half-years
1.0.10 Continuous disclosure notices
1.0.11 Certain documents to be signed by personal representatives etc
1.0.12 Form of notice of resolution
1.0.13 Time for lodging documents
1.0.14 Address of registered office or place of business
1.0.15 Affidavits and statements in writing
1.0.16 Certification and verification of certain documents
1.0.17 Documents signed or sworn in accordance with the rules
1.0.18 Prescribed provisions (Act s 53)
1.0.20 Copies of orders to be lodged
1.0.21 Identification of lodged orders
1.0.22 Territorial application of Act
Expand Part 1.1—Prescribed amountsPart 1.1—Prescribed amounts
Expand Part 1.2—InterpretationPart 1.2—Interpretation
Expand Part 1.2A—Disclosing entitiesPart 1.2A—Disclosing entities
Expand Chapter 2A—Registration of companiesChapter 2A—Registration of companies
Expand Chapter 2B—Basic features of a companyChapter 2B—Basic features of a company
Expand Chapter 2C—RegistersChapter 2C—Registers
Expand Chapter 2D—Officers and employeesChapter 2D—Officers and employees
Expand Chapter 2E—Related party transactionsChapter 2E—Related party transactions
Expand Chapter 2G—MeetingsChapter 2G—Meetings
Expand Chapter 2K—ChargesChapter 2K—Charges
Expand Chapter 2L—DebenturesChapter 2L—Debentures
Expand Chapter 2M—Financial reports and auditChapter 2M—Financial reports and audit
Expand Chapter 2N—Updating ASIC information about companies and registered schemesChapter 2N—Updating ASIC information about companies and registered schemes
Expand Chapter 5—External administrationChapter 5—External administration
Expand Chapter 5B—Bodies corporate registered as companies, and registrable bodiesChapter 5B—Bodies corporate registered as companies, and registrable bodies
Expand Chapter 5C—Managed investment schemesChapter 5C—Managed investment schemes
Expand Chapter 5D—Licensed trustee companiesChapter 5D—Licensed trustee companies
Expand Chapter 6—TakeoversChapter 6—Takeovers
Expand Chapter 6A—Compulsory acquisitions and buy-outsChapter 6A—Compulsory acquisitions and buy-outs
Expand Chapter 6CA—Continuous disclosureChapter 6CA—Continuous disclosure
Expand Chapter 6D—FundraisingChapter 6D—Fundraising
Expand Volume 2Volume 2
Expand Volume 3Volume 3
Expand Volume 4Volume 4
Expand Volume 5Volume 5
Expand Volume 6Volume 6
Expand Volume 7Volume 7

Commonwealth Coat of Arms of Australia

Corporations Regulations 2001

Statutory Rules No. 193, 2001

made under the

Corporations Act 2001

Compilation No. 135

Compilation date:                              1 January 2018

Includes amendments up to:            F2017L00710

Registered:                                         11 January 2018

This compilation is in 7 volumes

Volume 1:       regulations 1.0.01–6D.5.02

Volume 2:       regulations 7.1.02–7.6.08E

Volume 3:       regulations 7.7.01–8.4.02

Volume 4:       regulations 9.1.01–12.9.03

Volume 5:       Schedules 1, 2 and 2A

Volume 6:       Schedules 3–13

Volume 7:       Endnotes

Each volume has its own contents

 

 

 

This compilation includes commenced amendments made by F2017L00212

About this compilation

This compilation

This is a compilation of the Corporations Regulations 2001 that shows the text of the law as amended and in force on 1 January 2018 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

  

  

  


Contents

Chapter 1—Introductory                                                                                      1

Part 1.0—Miscellaneous                                                                                                     1

1.0.01.................... Name of Regulations.......................................................... 1

1.0.02.................... Interpretation....................................................................... 1

1.0.02A................. Prescribed financial market................................................. 8

1.0.03.................... Prescribed forms (Act s 350).............................................. 9

1.0.03A................. Documents that must be in the prescribed form.................. 9

1.0.03B.................. Documents that must be lodged with ASIC...................... 10

1.0.03C.................. Documents that must be in a form approved by ASIC..... 10

1.0.04.................... Directions and instructions in forms................................. 11

1.0.05.................... Documents and information required by forms................ 11

1.0.05A................. Lodgment with ASIC....................................................... 11

1.0.06.................... Annexures accompanying forms...................................... 12

1.0.07.................... General requirements for documents................................ 12

1.0.08.................... Information to accompany financial documents lodged for financial years              13

1.0.09.................... Information to accompany financial documents etc lodged for half‑years                14

1.0.10.................... Continuous disclosure notices.......................................... 14

1.0.11.................... Certain documents to be signed by personal representatives etc               15

1.0.12.................... Form of notice of resolution............................................. 15

1.0.13.................... Time for lodging documents............................................. 15

1.0.14.................... Address of registered office or place of business............. 15

1.0.15.................... Affidavits and statements in writing................................. 15

1.0.16.................... Certification and verification of certain documents........... 16

1.0.17.................... Documents signed or sworn in accordance with the rules 16

1.0.18.................... Prescribed provisions (Act s 53)...................................... 16

1.0.20.................... Copies of orders to be lodged........................................... 16

1.0.21.................... Identification of lodged orders.......................................... 16

1.0.22.................... Territorial application of Act............................................. 17

Part 1.1—Prescribed amounts                                                                                     18

1.1.01.................... Prescribed amounts........................................................... 18

Part 1.2—Interpretation                                                                                                  19

Division 1—General                                                                                                    19

1.2.01.................... Remuneration recommendations (Act s 9B)..................... 19

Part 1.2A—Disclosing entities                                                                                       20

1.2A.01................. Securities declared not to be ED securities........................ 20

1.2A.02................. Foreign companies issuing securities under foreign scrip offers etc exempt from disclosing entity provisions............................................................... 20

1.2A.03................. Foreign companies issuing securities under employee share scheme exempt from the disclosing entity provisions.............................................. 21

Chapter 2A—Registration of companies                                            22

Part 2A.1—Size of partnerships or associations (Act s 115(2))                22

2A.1.01................. Size of partnerships or associations.................................. 22

Part 2A.2—Change of place of registration of company (Act s 119A(3))               23

2A.2.01................. Approval of application for change of place of registration 23

2A.2.02................. Special resolution may be set aside by Court order........... 23

2A.2.03................. Application for change of place of registration................. 23

2A.2.04................. Change of place of registration......................................... 23

Chapter 2B—Basic features of a company                                      25

Part 2B.6—Names                                                                                                               25

2B.6.01.................. Availability of names (Act s 147)..................................... 25

2B.6.02.................. Consents required for use of certain letters, words and expressions        25

2B.6.03.................. Exemptions from requirement to set out name and ACN on certain documents (Act s 155).......................................................................................... 26

Chapter 2C—Registers                                                                                           27

Part 2C.1—Registers generally                                                                                    27

Division 2C.1.1—Location of register                                                               27

2C.1.01.................. Form of notice.................................................................. 27

Division 2C.1.2—Right to inspect and get copies of register                28

2C.1.02.................. Form of register................................................................ 28

2C.1.03.................. Improper purposes for getting copy of register................. 28

2C.1.04.................. Information to be included in application for copy of register  28

Division 2C.1.3—Use of information on registers by bodies corporate                29

2C.1.05.................. Contact with members after failure to provide copy of register                29

Chapter 2D—Officers and employees                                                    31

Part 2D.2—Restrictions on indemnities, insurance and termination payments   31

Division 2D.2.2—Termination payments                                                         31

2D.2.01................. Meaning of base salary.................................................... 31

2D.2.02................. Meaning of benefit............................................................ 32

2D.2.03................. When benefit given in connection with retirement from an office or a position        33

Part 2D.6—Disqualification from managing corporations                        34

Division 2D.6.1—Automatic disqualification (Act s 206B)                     34

2D.6.01................. Prescribed foreign jurisdictions (Act s 206B(7)).............. 34

Part 2D.7—Ban on hedging remuneration of key management personnel            35

2D.7.01................. Hedging arrangements (Act s 206J(3))............................. 35

Chapter 2E—Related party transactions                                           37

2E.1.01.................. Small amounts given to related entity................................ 37

Chapter 2G—Meetings                                                                                          38

Part 2G.2—Meetings of members of companies                                               38

Division 6—Proxies and body corporate representatives                      38

2G.2.01................. Authentication of appointment of proxy (Act s 250A)..... 38

Chapter 2K—Charges                                                                                            39

Part 2K.2—Registration                                                                                                  39

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................................... 39

2K.2.02.................. Time period for the provisional registration of charges..... 40

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....................................................... 40

Chapter 2L—Debentures                                                                                     41

Part 2L.2—Duties of borrower                                                                                   41

2L.2.01.................. Register relating to trustees for debenture holders............ 41

Chapter 2M—Financial reports and audit                                       42

Part 2M.3—Financial reporting                                                                                  42

Division 1—Annual financial reports and directors’ reports               42

2M.3.01................. Disclosures required by notes to consolidated financial statements—annual financial reports (Act s 295)........................................................................ 42

2M.3.03................. Prescribed details (Act s 300A)........................................ 42

Part 2M.4—Auditor                                                                                                           51

2M.4.01A.............. Membership designations (Act s 324BE)......................... 51

2M.4.01................. Notice of appointment of auditors..................................... 51

Part 2M.4A—Annual transparency reports for auditors                           52

2M.4A.01.............. Application....................................................................... 52

2M.4A.02.............. Content of annual transparency report (Act s 332B)......... 52

Part 2M.6—Modification of the operation of Chapter 2M of the Act 53

2M.6.01................. Modifications (Act s 343)................................................. 53

2M.6.05................. Conduct of auditor—relevant relationships....................... 53

Chapter 2N—Updating ASIC information about companies and registered schemes                                                                                                   54

Part 2N.2—Extract of particulars                                                                             54

2N.2.01................. Particulars ASIC may require in an extract of particulars (Act s 346B)   54

Part 2N.4—Return of particulars                                                                              56

2N.4.01................. Particulars ASIC may require in a return of particulars (Act s 348B)      56

Chapter 5—External administration                                                      58

Part 5.1—Arrangements and reconstructions                                                    58

5.1.01.................... Prescribed information for paragraph 411(3)(b) and subparagraph 412(1)(a)(ii) of the Act.......................................................................................... 58

5.1.02.................... Giving notice under subsection 414(2) or (9) of the Act.. 58

Part 5.2—Receivers, and other controllers, of corporations                     59

5.2.01.................... Controller’s notice to owner or lessor of property—how given               59

5.2.02.................... Certified copies of reports................................................. 59

Part 5.3A—Administration of a company’s affairs with a view to executing a deed of company arrangement                                                                                   60

5.3A.03A.............. Notice of first meeting of creditors................................... 60

5.3A.05................. Administrator’s notice to owner or lessor of property—how given         60

5.3A.06................. Provisions included in deed of company arrangement...... 60

5.3A.06A.............. Notice of resolution to wind up voluntarily...................... 60

5.3A.07A.............. Notice of appointment of administrator............................. 60

Part 5.4—Winding up in insolvency                                                                         62

5.4.01.................... Application to Court for winding up—prescribed agency 62

5.4.01A................. Notice of application to wind up a company..................... 62

5.4.01B.................. Notice of Court‑ordered winding up................................. 62

5.4.02.................... Compromise of debt by liquidator—prescribed amount... 63

Part 5.4C—Winding up by ASIC                                                                              64

5.4C.01.................. Notice of intention to order winding up of a company...... 64

Part 5.5—Voluntary winding up                                                                                65

5.5.01.................... Notice of resolution to wind up voluntarily...................... 65

Part 5.6—Winding up generally                                                                                 66

5.6.11.................... Application....................................................................... 66

5.6.11A................. Electronic methods of giving or sending certain notices etc 66

5.6.37.................... Establishing title to priority............................................... 67

5.6.39.................... Notice to submit particulars of debt or claim..................... 67

5.6.40.................... Preparation of a proof of debt or claim............................. 67

5.6.41.................... Disclosure of security....................................................... 67

5.6.42.................... Discounts.......................................................................... 67

5.6.43.................... Periodical payments.......................................................... 68

5.6.43A................. Debt or claim of uncertain value—appeal to Court........... 68

5.6.44.................... Debt discount rate (Act s 554B)....................................... 68

5.6.45.................... Employees’ wages............................................................ 68

5.6.46.................... Production of bill of exchange and promissory note......... 69

5.6.47.................... Admission of debt or claim without formal proof............. 69

5.6.48.................... Notice to creditors to submit formal proof........................ 69

5.6.49.................... Formal proof of debt or claim........................................... 70

5.6.50.................... Contents of formal proof of debt or claim......................... 70

5.6.51.................... Costs of proof................................................................... 70

5.6.52.................... Liquidator to notify receipt of proof of debt or claim........ 70

5.6.53.................... Time for liquidator to deal with proofs............................. 70

5.6.54.................... Grounds of rejection and notice to creditor....................... 71

5.6.55.................... Revocation or amendment of decision of liquidator.......... 71

5.6.56.................... Withdrawal or variation of proof of debt or claim............. 72

5.6.57.................... Oaths................................................................................ 72

5.6.58.................... Liquidator to make out provisional list of contributories... 73

5.6.59.................... Time and place for settlement of list.................................. 73

5.6.60.................... Settlement of list of contributories.................................... 73

5.6.61.................... Supplementary list............................................................ 73

5.6.62.................... Notice to contributories..................................................... 74

5.6.63.................... Dividend payable only on admission of a debt or claim.... 74

5.6.64.................... Application of regulations 5.6.37 to 5.6.57....................... 75

5.6.65.................... Liquidator to give notice of intention to declare a dividend 75

5.6.66.................... Time allowed for dealing with formal proof of debt or claim 76

5.6.67.................... Declaration and distribution of dividend........................... 76

5.6.68.................... Rights of creditor who has not proved debt before declaration of dividend             77

5.6.69.................... Postponement of declaration............................................. 77

5.6.70.................... Payment of dividend to a person named........................... 77

5.6.70A................. Prescribed rate of interest on debts and claims from relevant date to date of payment.......................................................................................... 77

5.6.70B.................. Notice of disclaimer.......................................................... 77

5.6.71.................... Distribution of surplus in a winding up by the Court....... 78

5.6.72.................... Distribution of surplus as directed.................................... 78

5.6.73.................... Eligible unsecured creditor................................................ 78

5.6.74.................... Interpretation: prescribed countries................................... 78

5.6.75.................... Publication in the prescribed manner................................ 79

Chapter 5B—Bodies corporate registered as companies, and registrable bodies                                                                                                        80

Part 5B.2—Registrable bodies                                                                                     80

5B.2.01.................. Certified copies of certificates of incorporation etc........... 80

5B.2.02.................. Manner of certifying constituent documents..................... 80

5B.2.03.................. Manner of sending letters (Act ss 601CC(2) and 601CL(3)).. 81

5B.2.04.................. Manner of sending notices (Act ss 601CC(3) and 601CL(4)) 81

5B.2.05.................. Prescribed countries (Act s 601CDA(a)).......................... 81

5B.2.06.................. Notices (Act s 601CV(1))................................................ 81

Part 5B.3—Names of registrable Australian bodies and foreign companies         82

5B.3.01.................. Availability of names (Act s 601DC)............................... 82

5B.3.02.................. Consents required for use of certain letters, words and expressions        82

5B.3.03.................. Exemptions from requirement to set out ARBN etc on certain documents (Act s 601DG).......................................................................................... 83

5B.3.04.................. Notices (Act s 601DH (1))............................................... 83

Chapter 5C—Managed investment schemes                                   84

Part 5C.1—Registration of managed investment schemes                         84

5C.1.01.................. Applying for registration.................................................. 84

5C.1.02.................. Change of name of registered schemes............................. 84

5C.1.03.................. Modification (Act s 601QB)............................................. 84

Part 5C.2—The responsible entity                                                                             86

5C.2.01.................. Duty of responsible entities’ agents—surveillance checks 86

5C.2.02.................. Appointment of temporary responsible entities................. 86

5C.2.03.................. Form of notices (Act ss 601FL(2) and 601FM(2)).......... 86

5C.2.04.................. Notice of appointment of temporary responsible entities.. 86

5C.2.05.................. Form of notices (Act s 601FP(3)).................................... 86

Part 5C.4—The compliance plan                                                                               87

5C.4.01.................. Agents’ authorities to be lodged....................................... 87

5C.4.02.................. Agents to assist auditors of compliance plans................... 87

Part 5C.5—The compliance committee                                                                  88

5C.5.01.................. Responsible entities etc to assist compliance committees.. 88

Part 5C.9—Winding up                                                                                                   89

5C.9.01.................. Notice of commencement of winding up.......................... 89

Part 5C.11—Exemptions and modifications                                                       90

Division 1—Exemptions                                                                                            90

5C.11.01................ Certain schemes not managed investment schemes........... 90

Division 2—Modifications                                                                                        93

5C.11.02................ Modifications.................................................................... 93

5C.11.03................ Register of members of registered schemes (Act s 169(1)) 93

5C.11.03A............. How to work out the value of an interest.......................... 93

5C.11.04................ Names of registered schemes (Act s 601EB(1))............... 93

5C.11.05A............. Schemes not required to be registered (Act s 601ED)...... 93

5C.11.06................ Liability of responsible entities (Act s 601FB(4))............. 93

Chapter 5D—Licensed trustee companies                                         94

Part 5D.1—Preliminary                                                                                                   94

5D.1.01................. Prescribed requirements for publication............................ 94

5D.1.01A.............. Meaning of trustee company............................................ 94

5D.1.02................. Meaning of traditional trustee company services and estate management functions.......................................................................................... 94

5D.1.03................. Meaning of mortgage‑backed security............................. 96

5D.1.04................. Interaction between trustee company provisions and State and Territory laws         97

Part 5D.2—Powers etc of licensed trustee companies                                   98

Division 2.1—Annual Information Returns                                                    98

5D.2.01................. Obligation on licensed trustee company to provide an annual information return if requested.......................................................................................... 98

5D.2.02................. Information to be included in annual information return... 99

Division 2.2—Common funds                                                                               100

5D.2.03................. Common funds............................................................... 100

5D.2.04................. Establishment of common funds..................................... 100

5D.2.05................. Deciding details about common funds............................ 100

5D.2.06................. Operation of common funds........................................... 101

5D.2.07................. Register of investments................................................... 103

5D.2.08................. Financial reports............................................................. 103

Part 5D.3—Regulation of fees charged by licensed trustee companies 105

5D.3.01................. Modification of section 601TAB of the Act: disclosure to clients of changed fees  105

Part 5D.4—Obligations of receiving company after transfer                 106

5D.4.01................. Preserving rights under dispute resolution systems and compensation arrangements........................................................................................ 106

Chapter 6—Takeovers                                                                                          107

Part 6.2—Exceptions to the prohibition                                                               107

6.2.01.................... Prescribed circumstances (Act s 611)............................. 107

6.2.02.................... Other prescribed circumstances (Act s 611)................... 108

Part 6.5—The takeover procedure                                                                          109

6.5.01.................... Wholesale holder of securities—telephone monitoring during bid period                109

Part 6.6Variation of offers                                                                                      110

6.6.01.................... Right to withdraw acceptance......................................... 110

Part 6.8Acceptances                                                                                                    111

6.8.01.................... Acceptance of offers made under off‑market bid............ 111

6.8.02.................... Acceptances by transferees and nominees of offers made under off‑market bid      111

Part 6.10—Review and intervention                                                                      112

6.10.01.................. Application for review of Panel decision (Act s 657EA) 112

Chapter 6A—Compulsory acquisitions and buy‑outs       113

Part 6A.1Compulsory acquisitions and buy‑outs after takeover bid 113

6A.1.01................. Terms on which securities to be acquired....................... 113

Chapter 6CA—Continuous disclosure                                                114

6CA.1.01............... Continuous disclosure: other disclosing entities............. 114

Chapter 6D—Fundraising                                                                                115

Part 6D.2—Disclosure to investors about securities                                      115

6D.2.01................. Exemption—member shares........................................... 115

6D.2.02................. Exemption—foreign companies...................................... 115

6D.2.03................. Sophisticated investors................................................... 115

6D.2.04................. Simple corporate bonds—base prospectus..................... 115

6D.2.05................. Simple corporate bonds—offer‑specific prospectus....... 118

6D.2.06................. Simple corporate bonds—key financial ratios relevant to issuing body   120

Part 6D.3A—Crowd‑sourced funding                                                                  122

6D.3A.01.............. Offers that are eligible to be made under Part 6D.3A of the Act              122

6D.3A.02.............. Contents of CSF offer document—general..................... 122

6D.3A.03.............. Contents of CSF offer document—Section 1: Risk warnings  122

6D.3A.04.............. Contents of CSF offer document—Section 2: Information about the offering company........................................................................................ 123

6D.3A.05.............. Contents of CSF offer document—Section 3: Information about the offer              125

6D.3A.06.............. Contents of CSF offer document—Section 4: Information about investor rights     126

6D.3A.07.............. Obligation of CSF intermediary relating to their platforms—applicant risk acknowledgement........................................................................................ 126

6D.3A.08.............. Gatekeeper obligation of CSF intermediary—checks..... 126

6D.3A.09.............. Gatekeeper obligation of CSF intermediary—reasonable standard of checks          127

6D.3A.10.............. Obligation of CSF intermediary relating to their platforms—general CSF risk warning........................................................................................ 128

Part 6D.5—Fundraising—miscellaneous                                                             129

6D.5.01................. Warrants that are securities............................................. 129

6D.5.02................. Modification of paragraph 708(8)(c) of the Act: renewal period for accountants’ certificates........................................................................................ 129


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 1Introductory

Part 1.0Miscellaneous

  

1.0.01  Name of Regulations

                   These Regulations are the Corporations Regulations 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 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.

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.

income stream financial product means an annuity or other facility that is a financial product which provides an income stream, including:

                     (a)  an income stream that is an investment life insurance product; or

                     (b)  an income designated under section 9 of the Social Security Act 1991 or section 5H of the Veterans’ Entitlements Act 1986;

but does not include any of the following:

                     (c)  a financial product under paragraph 764A(1)(ba) of the Act;

                     (d)  anything that is not a financial product under section 765A of the Act;

                     (e)  available money;

                      (f)  deposit money;

                     (g)  a managed investment product;

                     (h)  a security;

                      (i)  a loan that has not been repaid in full;

                      (j)  gold, silver or platinum bullion.

Note:          In accordance with subsections 761G(6) and (7) of the Act, superannuation products and RSA products are not income stream financial products.

investment‑based financial product means:

                     (a)  a financial product under section 763B of the Act; or

                     (b)  a financial product under paragraph 764A(1)(ba) or (j) of the Act; or

                     (c)  a financial product under paragraph 764A(1)(m) of the Act that is specified to be an investment‑based financial product; or

                     (d)  a security; or

                     (e)  a managed investment product; or

                      (f)  an investment life insurance product; or

                     (g)  a deposit product; or

                    (ga)  a carbon unit;

                   (gb)  an Australian carbon credit unit;

                    (gc)  an eligible international emissions unit;

but does not include any of the following:

                     (h)  anything that is not a financial product under section 765A of the Act;

                      (i)  an income stream financial product.

Note:          In accordance with subsections 761G(6) and (7) of the Act, superannuation products and RSA products are not income stream financial products.

Lloyd’s has the same meaning as in the Insurance Act 1973.

margin loan, or margin lending, means a standard margin lending facility.

medical indemnity insurance product means an arrangement:

                     (a)  under which medical indemnity cover is provided to:

                              (i)  a medical practitioner as defined in section 4 of the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003; or

                             (ii)  a registered health professional prescribed by the Medical Indemnity (Prudential Supervision and Product Standards) Regulations 2003 for a provision of Part 3 of the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003; and

                     (b)  to which the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 applies.

minor fee, for a margin loan, means a fee or cost for the margin loan that does not relate to the ordinary acquisition, operation or closure of the loan and which is less than $10.

MySuper product has the same meaning as in the SIS Act.

non‑cash payment financial product means a financial product under section 763D of the Act, other than:

                     (a)  a derivative; or

                     (b)  a financial product under paragraph 764A(1)(k) of the Act; or

                     (c)  anything that is not a financial product under section 765A of the Act.

non‑Division 3 securities means financial products to which Division 3 or 4 of Part 7.11 of the Act applies because of a declaration made by ASIC under paragraph 1075A(1)(b) of the Act.

old Corporations Act means the Corporations Act 2001 as in force immediately before the FSR commencement.

policy committee has the same meaning as in the SIS Act.

pooled superannuation trust (or PST) has the same meaning as in the SIS Act.

pre‑FSR securities means securities defined in subsection 92(3) of the old Corporations Act.

preserved benefits means preserved benefits under:

                     (a)  Subdivision 6.1.2 of the SIS Regulations; or

                     (b)  Subdivision 4.1.2 of the RSA Regulations.

proper ASTC transfer means:

                     (a)  an ASTC‑regulated transfer of a Division 4 financial product effected:

                              (i)  through the prescribed CS facility operated by the ASTC; and

                             (ii)  in accordance with the operating rules of the ASTC; and

                     (b)  an ASTC‑regulated transfer that the ASTC, in accordance with its operating rules, determines:

                              (i)  to comply substantially with the applicable provisions of those operating rules; and

                             (ii)  to be taken to be, and always to have been, a proper ASTC transfer.

public offer entity has the same meaning as in the SIS Act.

public offer superannuation fund has the same meaning as in the SIS Act.

qualifying gas exchange product means an arrangement for the physical delivery of natural gas or related goods or services, including pipeline capacity.

qualifying gas trading exchange means a facility:

                     (a)  established by the Australian Energy Market Operator Limited (ACN 072 010 327) exercising its functions under subsection 91BRK(1) of the National Gas Law set out in the Schedule to the National Gas (South Australia) Act 2008 (SA); and

                     (b)  through which persons may elect to buy and sell natural gas or related goods or services (including pipeline capacity).

registration number means:

                     (a)  for a company—the number allotted to the company under paragraph 118(1)(a) or 601BD(1)(a) of the Act; or

                     (b)  for a registered body—the number allotted to it under section 601CB or 601CE of the Act; or

                     (c)  for an auditor—the number allotted to a person on registration of that person as an auditor.

regulated superannuation fund has the same meaning as in the SIS Act.

restricted non‑preserved benefits means restricted non‑preserved benefits under:

                     (a)  Subdivision 6.1.3 of the SIS Regulations; or

                     (b)  Subdivision 4.1.3 of the RSA Regulations.

retirement savings account has the same meaning as in the RSA Act.

risk‑based financial product means:

                     (a)  a financial product under section 763C of the Act; or

                     (b)  a life risk insurance product;

but does not include any of the following:

                     (c)  a derivative;

                     (d)  anything that is not a financial product under section 765A of the Act.

Note:          In accordance with subsections 761G(5) and (7) of the Act, general insurance products are not risk‑based financial products.

RSA Act means the Retirement Savings Accounts Act 1997.

RSA Regulations means the Retirement Savings Accounts Regulations 1997.

settlement documents, in relation to a transaction, means:

                     (a)  if the agreement for the transaction has not been discharged—documents the supply of which in accordance with the agreement is sufficient to discharge the obligations of the seller under the agreement, in so far as the obligations relate to the supply of documents in connection with the transaction; or

                     (b)  if the agreement for the transaction has been discharged, whether by performance or otherwise—documents the supply of which in accordance with the agreement would, if the agreement had not been discharged, be sufficient to discharge the obligations of the seller under the agreement, in so far as the obligations relate to the supply of documents in connection with the transaction.

simple managed investment scheme means a registered management investment scheme which is or was offered because it meets 1 of the following requirements:

                     (a)  the scheme invests at least 80% of its assets in money in an account with a bank on the basis that the money is available for withdrawal:

                              (i)  immediately during the bank’s normal business hours; or

                             (ii)  at the end of a fixed‑term period that does not exceed 3 months;

                     (b)  the scheme invests at least 80% of its assets in money on deposit with a bank on the basis that the money is available for withdrawal:

                              (i)  immediately during the bank’s normal business hours; or

                             (ii)  at the end of a fixed‑term period that does not exceed 3 months;

                     (c)  the scheme invests at least 80% of its assets under 1 or more arrangements by which the responsible entity of the scheme can reasonably expect to realise the investment, at the market value of the assets, within 10 days.

SIS Act means the Superannuation Industry (Supervision) Act 1993.

SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994.

sub‑plan, in relation to a regulated superannuation fund, means a segment of the fund comprising a member or members of the fund, being a sub‑plan that the trustee determines should be made.

successor fund has the same meaning as in the SIS Regulations.

superannuation entity has the same meaning as in the SIS Act.

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