Federal Register of Legislation - Australian Government

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Regulations as made
This instrument makes minor and technical amendments in the Treasury portfolio, including to corporations law, laws relating to foreign acquisitions and takeovers, laws relating to consumer credit, and laws relating to superannuation.
Administered by: Treasury
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 18, Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 31, Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 42AA, Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 56B
Registered 17 Dec 2021
Tabling HistoryDate
Tabled HR08-Feb-2022
Tabled Senate08-Feb-2022
Table of contents.

Commonwealth Coat of Arms of Australia

 

Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2021

I, General the Honourable David Hurley AC DSC (Retd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 16 December 2021

David Hurley

Governor‑General

By His Excellency’s Command

Michael Sukkar

Assistant Treasurer, Minister for Housing and Minister for Homelessness, Social and Community Housing

 

 

 

  

  


Contents

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Amendments                                                                                                                          2

Part 1—Amendments commencing day after registration                                                    2

Corporations Regulations 2001                                                                                                         2

Foreign Acquisitions and Takeovers Regulation 2015                                                                  3

National Consumer Credit Protection Regulations 2010                                                             3

Retirement Savings Accounts Regulations 1997                                                                             3

Superannuation (Unclaimed Money and Lost Members) Regulations 2019                             3

Part 2—Contingent amendments                                                                                                      4

Corporations Regulations 2001                                                                                                         4

 


1  Name

                   This instrument is the Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2021.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  Sections 1 to 4 and anything in this instrument not elsewhere covered by this table

The day after this instrument is registered.

18 December 2021

2.  Schedule 1, Part 1

The day after this instrument is registered.

18 December 2021

3.  Schedule 1, Part 2

At the same time as Part 1 of Schedule 8 to the Corporate Collective Investment Vehicle Framework and Other Measures Act 2021 commences.

However, the provisions do not commence at all if that Part does not commence.

 

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the following:

                     (a)  the Corporations Act 2001;

                     (b)  the Foreign Acquisitions and Takeovers Act 1975;

                     (c)  the National Consumer Credit Protection Act 2009;

                     (d)  the Retirement Savings Accounts Act 1997;

                     (e)  the Superannuation (Unclaimed Money and Lost Members) Act 1999.

4  Schedules

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

Schedule 1Amendments

Part 1Amendments commencing day after registration

Corporations Regulations 2001

1  Subparagraph 7.8.13(2)(a)(i)

After “4,”, insert “4A,”.

2  Regulation 7.9.07FA

Omit “http://www.apra.gov.au and the APRA hotline on 1300 13 10 60”, substitute “http://www.fcs.gov.au”.

3  Paragraph 7.9.14D(1)(c)

Omit “http://www.apra.gov.au and the APRA hotline on 1300 13 10 60”, substitute “http://www.fcs.gov.au”.

4  After subregulation 7.9.20AA(1)

Insert:

          (1A)  This regulation does not apply if:

                     (a)  the superannuation product is a non‑investment or accumulation life insurance policy that is offered through the regulated superannuation fund; or

                     (b)  the superannuation product has no investment component (also known as a risk‑only superannuation product); or

                     (c)  the statement is a periodic statement to be given to a member of the regulated superannuation fund for a reporting period mentioned in paragraph 1017D(2)(d) of the Act.

5  Subregulation 7.9.20AA(2)

Repeal the subregulation (including the heading).

6  Subregulations 7.9.20AA(3) to (7)

Repeal the subregulations.

7  Subregulation 7.9.20AA(8) (heading)

Repeal the heading.

8  Subregulation 7.9.20AA(8)

Omit “2010”, substitute “2011”.

9  Subregulation 7.9.75BA(1)

Repeal the subregulation, substitute:

             (1)  For the purposes of paragraph 1017DA(1)(a) of the Act, the trustee of a superannuation entity (other than a self managed superannuation fund) may provide fund information:

                     (a)  required by Subdivision 5.6 of this Part and is about a regulated superannuation fund; or

                     (b)  required by Subdivision 5.6 of this Part and is about an approved deposit fund; or

                     (c)  required by Subdivision 5.7 of this Part and is about a pooled superannuation trust;

to a holder of an interest in that entity by making it available on the entity’s website.

Foreign Acquisitions and Takeovers Regulation 2015

10  Section 66

Repeal the section.

National Consumer Credit Protection Regulations 2010

11  Subdivision 1.3 of Division 1 of Part 2.4

Repeal the Subdivision.

12  Regulations 65B, 69A and 69B

Repeal the regulations.

Retirement Savings Accounts Regulations 1997

13  Division 2.2

Repeal the Division.

14  Regulation 2.18A (note)

Omit “Section 53 of the Act provides that a person must receive certain documents before becoming an RSA holder.”.

Superannuation (Unclaimed Money and Lost Members) Regulations 2019

15  Subsection 6(1)

Omit “and 24K(4)(a)”, substitute “, 24K(4)(a) and 24NAA(4)(a)”.

Part 2Contingent amendments

Corporations Regulations 2001

16  Part 7.6A

Repeal the Part.

17  Regulation 7.7.10AH

Repeal the regulation.

18  Regulation 7.9.15G

Repeal the regulation.