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Corporations Regulations 2001

Authoritative Version
  • - F2020C00745
  • In force - Superseded Version
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SR 2001 No. 193 Regulations as amended, taking into account amendments up to Corporations Amendment (Litigation Funding) Regulations 2020
Principal Regulations. These Regulations repeal the Corporations Regulations 1990 and the Partnerships and Associations Application Order 1999 (No. 1)
Administered by: Treasury
Registered 21 Aug 2020
Start Date 24 Jul 2020
End Date 21 Sep 2020
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
1.0.02B Proprietary company thresholds (Act s 45A)
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. 156

Compilation date:                              24 July 2020

Includes amendments up to:            F2020L00942

Registered:                                         21 August 2020

This compilation is in 7 volumes

Volume 1:       regulations 1.0.01–6D.5.03

Volume 2:       regulations 7.1.02–7.6.08E

Volume 3:       regulations 7.7.01–8A.7.20

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

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 24 July 2020 (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................................................. 9

1.0.02B.................. Proprietary company thresholds (Act s 45A)..................... 9

1.0.03.................... Prescribed forms (Act s 350)............................................ 10

1.0.03A................. Documents that must be in the prescribed form................ 10

1.0.03B.................. Documents that must be lodged with ASIC...................... 11

1.0.03C.................. Documents that must be in a form approved by ASIC..... 12

1.0.04.................... Directions and instructions in forms................................. 12

1.0.05.................... Documents and information required by forms................ 12

1.0.05A................. Lodgment with ASIC....................................................... 12

1.0.06.................... Annexures accompanying forms...................................... 13

1.0.07.................... General requirements for documents................................ 13

1.0.08.................... Information to accompany financial documents lodged for financial years              14

1.0.09.................... Information to accompany financial documents etc lodged for half‑years                15

1.0.10.................... Continuous disclosure notices.......................................... 16

1.0.11.................... Certain documents to be signed by personal representatives etc               16

1.0.12.................... Form of notice of resolution............................................. 16

1.0.13.................... Time for lodging documents............................................. 16

1.0.14.................... Address of registered office or place of business............. 17

1.0.15.................... Affidavits and statements in writing................................. 17

1.0.16.................... Certification and verification of certain documents........... 17

1.0.17.................... Documents signed or sworn in accordance with the rules 18

1.0.18.................... Prescribed provisions (Act s 53)...................................... 18

1.0.20.................... Copies of orders to be lodged........................................... 18

1.0.21.................... Identification of lodged orders.......................................... 18

1.0.22.................... Territorial application of Act............................................. 18

Part 1.1—Prescribed amounts                                                                                     19

1.1.01.................... Prescribed amounts........................................................... 19

Part 1.2—Interpretation                                                                                                  20

Division 1—General                                                                                                    20

1.2.01.................... Remuneration recommendations (Act s 9B)..................... 20

Part 1.2A—Disclosing entities                                                                                       21

1.2A.01................. Securities declared not to be ED securities........................ 21

1.2A.02................. Foreign companies issuing securities under foreign scrip offers etc exempt from disclosing entity provisions............................................................... 21

1.2A.03................. Foreign companies issuing securities under employee share scheme exempt from the disclosing entity provisions.............................................. 22

Chapter 2A—Registration of companies                                            23

Part 2A.1—Size of partnerships or associations (Act s 115(2))                23

2A.1.01................. Size of partnerships or associations.................................. 23

Part 2A.2—Change of place of registration of company (Act s 119A(3))               24

2A.2.01................. Approval of application for change of place of registration 24

2A.2.02................. Special resolution may be set aside by Court order........... 24

2A.2.03................. Application for change of place of registration................. 24

2A.2.04................. Change of place of registration......................................... 24

Chapter 2B—Basic features of a company                                      26

Part 2B.6—Names                                                                                                               26

2B.6.01.................. Availability of names (Act s 147)..................................... 26

2B.6.02.................. Consents required for use of certain letters, words and expressions        26

2B.6.02A............... Exemption from requirement to include “Limited” in name 27

2B.6.03.................. Exemptions from requirement to set out name and ACN on certain documents (Act s 155).......................................................................................... 27

Chapter 2C—Registers                                                                                           28

Part 2C.1—Registers generally                                                                                    28

Division 2C.1.1—Location of register                                                               28

2C.1.01.................. Form of notice.................................................................. 28

Division 2C.1.2—Right to inspect and get copies of register                29

2C.1.02.................. Form of register................................................................ 29

2C.1.03.................. Improper purposes for getting copy of register................. 29

2C.1.04.................. Information to be included in application for copy of register  29

Division 2C.1.3—Use of information on registers by bodies corporate                30

2C.1.05.................. Contact with members after failure to provide copy of register                30

Chapter 2D—Officers and employees                                                    32

Part 2D.2—Restrictions on indemnities, insurance and termination payments   32

Division 2D.2.2—Termination payments                                                         32

2D.2.01................. Meaning of base salary.................................................... 32

2D.2.02................. Meaning of benefit............................................................ 33

2D.2.03................. When benefit given in connection with retirement from an office or a position        34

Part 2D.6—Disqualification from managing corporations                        35

Division 2D.6.1—Automatic disqualification (Act s 206B)                     35

2D.6.01................. Prescribed foreign jurisdictions (Act s 206B(7)).............. 35

Part 2D.7—Ban on hedging remuneration of key management personnel            36

2D.7.01................. Hedging arrangements (Act s 206J(3))............................. 36

Chapter 2E—Related party transactions                                           38

2E.1.01.................. Small amounts given to related entity................................ 38

Chapter 2G—Meetings                                                                                          39

Part 2G.2—Meetings of members of companies                                               39

Division 6—Proxies and body corporate representatives                      39

2G.2.01................. Authentication of appointment of proxy (Act s 250A)..... 39

Chapter 2K—Charges                                                                                            40

Part 2K.2—Registration                                                                                                  40

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

2K.2.02.................. Time period for the provisional registration of charges..... 41

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....................................................... 41

Chapter 2L—Debentures                                                                                     42

Part 2L.2—Duties of borrower                                                                                   42

2L.2.01.................. Register relating to trustees for debenture holders............ 42

Chapter 2M—Financial reports and audit                                       43

Part 2M.3—Financial reporting                                                                                  43

Division 1—Annual financial reports and directors’ reports               43

2M.3.01................. Disclosures required by notes to consolidated financial statements—annual financial reports (Act s 295)........................................................................ 43

2M.3.03................. Prescribed details (Act s 300A)........................................ 43

Part 2M.4—Auditor                                                                                                           52

2M.4.01A.............. Membership designations (Act s 324BE)......................... 52

2M.4.01................. Notice of appointment of auditors..................................... 52

Part 2M.4A—Annual transparency reports for auditors                           53

2M.4A.01.............. Application....................................................................... 53

2M.4A.02.............. Content of annual transparency report (Act s 332B)......... 53

Part 2M.6—Modification of the operation of Chapter 2M of the Act 54

2M.6.01................. Modifications (Act s 343)................................................. 54

2M.6.05................. Conduct of auditor—relevant relationships....................... 54

Chapter 2N—Updating ASIC information about companies and registered schemes                                                                                                   55

Part 2N.2—Extract of particulars                                                                             55

2N.2.01................. Particulars ASIC may require in an extract of particulars (Act s 346B)   55

Part 2N.4—Return of particulars                                                                              58

2N.4.01................. Particulars ASIC may require in a return of particulars (Act s 348B)      58

Chapter 5—External administration                                                      61

Part 5.1—Arrangements and reconstructions                                                    61

5.1.01.................... Prescribed information for paragraph 411(3)(b) and subparagraph 412(1)(a)(ii) of the Act.......................................................................................... 61

5.1.02.................... Giving notice under subsection 414(2) or (9) of the Act.. 61

5.1.50.................... Prescribed kinds of contracts, agreements or arrangements under which rights are not subject to the stay in section 415D of the Act............................... 62

Part 5.2—Receivers, and other controllers, of corporations                     63

5.2.01.................... Controller’s notice to owner or lessor of property—how given               63

5.2.02.................... Certified copies of reports................................................. 63

5.2.50.................... Prescribed kinds of contracts, agreements or arrangements under which rights are not subject to the stay in section 434J of the Act................................ 63

Part 5.3A—Administration of a company’s affairs with a view to executing a deed of company arrangement                                                                                   64

5.3A.03A.............. Notice of first meeting of creditors................................... 64

5.3A.05................. Administrator’s notice to owner or lessor of property—how given         64

5.3A.06................. Provisions included in deed of company arrangement...... 64

5.3A.06A.............. Notice of resolution to wind up voluntarily...................... 64

5.3A.07A.............. Notice of appointment of administrator............................. 64

5.3A.50................. Prescribed kinds of contracts, agreements or arrangements under which rights are not subject to the stay in section 451E of the Act................................ 65

Part 5.4—Winding up in insolvency                                                                         69

5.4.01AA.............. Temporary increase to the statutory minimum and statutory period         69

5.4.01.................... Application to Court for winding up—prescribed agency 69

5.4.01A................. Notice of application to wind up a company..................... 69

5.4.01B.................. Notice of Court‑ordered winding up................................. 69

5.4.02.................... Compromise of debt by liquidator—prescribed amount... 70

Part 5.4C—Winding up by ASIC                                                                              71

5.4C.01.................. Notice of intention to order winding up of a company...... 71

Part 5.5—Voluntary winding up                                                                                72

5.5.01.................... Notice of resolution to wind up voluntarily...................... 72

Part 5.6—Winding up generally                                                                                 73

5.6.11.................... Application....................................................................... 73

5.6.11A................. Electronic methods of giving or sending certain notices etc 73

5.6.37.................... Establishing title to priority............................................... 74

5.6.39.................... Notice to submit particulars of debt or claim..................... 74

5.6.40.................... Preparation of a proof of debt or claim............................. 74

5.6.41.................... Disclosure of security....................................................... 74

5.6.42.................... Discounts.......................................................................... 74

5.6.43.................... Periodical payments.......................................................... 75

5.6.43A................. Debt or claim of uncertain value—appeal to Court........... 75

5.6.44.................... Debt discount rate (Act s 554B)....................................... 75

5.6.45.................... Employees’ wages............................................................ 75

5.6.46.................... Production of bill of exchange and promissory note......... 76

5.6.47.................... Admission of debt or claim without formal proof............. 76

5.6.48.................... Notice to creditors to submit formal proof........................ 76

5.6.49.................... Formal proof of debt or claim........................................... 77

5.6.50.................... Contents of formal proof of debt or claim......................... 77

5.6.51.................... Costs of proof................................................................... 77

5.6.52.................... Liquidator to notify receipt of proof of debt or claim........ 77

5.6.53.................... Time for liquidator to deal with proofs............................. 77

5.6.54.................... Grounds of rejection and notice to creditor....................... 78

5.6.55.................... Revocation or amendment of decision of liquidator.......... 78

5.6.56.................... Withdrawal or variation of proof of debt or claim............. 79

5.6.57.................... Oaths................................................................................ 79

5.6.58.................... Liquidator to make out provisional list of contributories... 80

5.6.59.................... Time and place for settlement of list.................................. 80

5.6.60.................... Settlement of list of contributories.................................... 80

5.6.61.................... Supplementary list............................................................ 80

5.6.62.................... Notice to contributories..................................................... 81

5.6.63.................... Dividend payable only on admission of a debt or claim.... 81

5.6.64.................... Application of regulations 5.6.37 to 5.6.57....................... 82

5.6.65.................... Liquidator to give notice of intention to declare a dividend 82

5.6.66.................... Time allowed for dealing with formal proof of debt or claim 83

5.6.67.................... Declaration and distribution of dividend........................... 83

5.6.68.................... Rights of creditor who has not proved debt before declaration of dividend             84

5.6.69.................... Postponement of declaration............................................. 84

5.6.70.................... Payment of dividend to a person named........................... 84

5.6.70A................. Prescribed rate of interest on debts and claims from relevant date to date of payment.......................................................................................... 84

5.6.70B.................. Notice of disclaimer.......................................................... 84

5.6.71.................... Distribution of surplus in a winding up by the Court....... 85

5.6.72.................... Distribution of surplus as directed.................................... 85

5.6.73.................... Eligible unsecured creditor................................................ 85

5.6.74.................... Interpretation: prescribed countries................................... 85

5.6.75.................... Publication in the prescribed manner................................ 86

Chapter 5B—Bodies corporate registered as companies, and registrable bodies                                                                                                        87

Part 5B.2—Registrable bodies                                                                                     87

5B.2.01.................. Certified copies of certificates of incorporation etc........... 87

5B.2.02.................. Manner of certifying constituent documents..................... 87

5B.2.03.................. Manner of sending letters (Act ss 601CC(2) and 601CL(3)).. 88

5B.2.04.................. Manner of sending notices (Act ss 601CC(3) and 601CL(4)) 88

5B.2.05.................. Prescribed countries (Act s 601CDA(a)).......................... 88

5B.2.06.................. Notices (Act s 601CV(1))................................................ 88

Part 5B.3—Names of registrable Australian bodies and foreign companies         89

5B.3.01.................. Availability of names (Act s 601DC)............................... 89

5B.3.02.................. Consents required for use of certain letters, words and expressions        89

5B.3.03.................. Exemptions from requirement to set out ARBN etc on certain documents (Act s 601DG).......................................................................................... 90

5B.3.04.................. Notices (Act s 601DH(1))................................................ 90

Chapter 5C—Managed investment schemes                                   91

Part 5C.1—Registration of managed investment schemes                         91

5C.1.01.................. Applying for registration.................................................. 91

5C.1.02.................. Change of name of registered schemes............................. 91

5C.1.03.................. Modification (Act s 601QB)............................................. 92

Part 5C.2—The responsible entity                                                                             93

5C.2.01.................. Duty of responsible entities’ agents—surveillance checks 93

5C.2.02.................. Appointment of temporary responsible entities................. 93

5C.2.03.................. Form of notices (Act ss 601FL(2) and 601FM(2)).......... 93

5C.2.04.................. Notice of appointment of temporary responsible entities.. 93

5C.2.05.................. Form of notices (Act s 601FP(3)).................................... 93

Part 5C.4—The compliance plan                                                                               94

5C.4.01.................. Agents’ authorities to be lodged....................................... 94

5C.4.02.................. Agents to assist auditors of compliance plans................... 94

Part 5C.5—The compliance committee                                                                  95

5C.5.01.................. Responsible entities etc to assist compliance committees.. 95

Part 5C.9—Winding up                                                                                                   96

5C.9.01.................. Notice of commencement of winding up.......................... 96

Part 5C.11—Exemptions and modifications                                                       97

Division 1—Exemptions                                                                                            97

5C.11.01................ Certain schemes not managed investment schemes........... 97

Division 2—Modifications                                                                                        99

5C.11.02................ Modifications.................................................................... 99

5C.11.03................ Register of members of registered schemes (Act s 169(1)) 99

5C.11.03A............. How to work out the value of an interest.......................... 99

5C.11.04................ Names of registered schemes (Act s 601EB(1))............... 99

5C.11.05A............. Schemes not required to be registered (Act s 601ED)...... 99

5C.11.06................ Liability of responsible entities (Act s 601FB(4))............. 99

Chapter 5D—Licensed trustee companies                                       100

Part 5D.1—Preliminary                                                                                                 100

5D.1.01................. Prescribed requirements for publication.......................... 100

5D.1.01A.............. Meaning of trustee company.......................................... 100

5D.1.02................. Meaning of traditional trustee company services and estate management functions........................................................................................ 100

5D.1.03................. Meaning of mortgage‑backed security........................... 102

5D.1.04................. Interaction between trustee company provisions and State and Territory laws         103

Part 5D.2—Powers etc of licensed trustee companies                                 104

Division 2.1—Annual Information Returns                                                  104

5D.2.01................. Obligation on licensed trustee company to provide an annual information return if requested........................................................................................ 104

5D.2.02................. Information to be included in annual information return. 105

Division 2.2—Common funds                                                                               106

5D.2.03................. Common funds............................................................... 106

5D.2.04................. Establishment of common funds..................................... 106

5D.2.05................. Deciding details about common funds............................ 106

5D.2.06................. Operation of common funds........................................... 107

5D.2.07................. Register of investments................................................... 109

5D.2.08................. Financial reports............................................................. 110

Part 5D.3—Regulation of fees charged by licensed trustee companies 112

5D.3.01................. Modification of section 601TAB of the Act: disclosure to clients of changed fees  112

Part 5D.4—Obligations of receiving company after transfer                 113

5D.4.01................. Preserving rights under dispute resolution systems and compensation arrangements........................................................................................ 113

Chapter 6—Takeovers                                                                                          114

Part 6.2—Exc