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Corporations Regulations 2001

Authoritative Version
SR 2001 No. 193 Regulations as amended, taking into account amendments up to Treasury Laws Amendment (Professional Standards Schemes) Regulations 2022
Administered by: Treasury
Registered 04 Apr 2022
Start Date 22 Mar 2022
Table of contents.

Commonwealth Coat of Arms of Australia

Corporations Regulations 2001

Statutory Rules No. 193, 2001

made under the

Corporations Act 2001

Compilation No. 178

Compilation date:                              22 March 2022

Includes amendments up to:            F2022L00350

Registered:                                         4 April 2022

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 22 March 2022 (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

Schedule 3—Specified offices                                                                            1

Schedule 4—Prescribed amounts                                                                  3

Schedule 5C—Conduct of auditor—relevant relationships  6

1............ Money owed—debt............................................................................ 6

2............ Money owed—deposit account........................................................... 6

3............ Public company auditor (annual appointments at AGMs to fill vacancies)               7

Schedule 6—Availability of names                                                              8

Part 1—Rules for ascertaining whether names are identical                      8

Part 2—Names unacceptable for registration                                                      9

Part 3—Restricted words and phrases                                                                   11

Part 4—Consent required to use restricted words and phrases              12

Part 5—Names relating to financial institutions for use of which consent is required    13

Schedule 7—Exemptions from requirements to set out certain corporate particulars                                                                                           14

7001...... Definitions for Schedule 7................................................................ 14

7002...... Exemption for certain IATA documents........................................... 14

7003...... Exemption for bills of lading and sea waybills.................................. 14

7004...... Exemptions—quotation of ACNs and ARBNs................................ 15

Schedule 7A—Content of annual transparency report       16

Part 1—Interpretation for Schedule 7A                                                                16

7A101... Interpretation..................................................................................... 16

Part 2—Prescribed information for audit firm or authorised audit company     17

Part 3—Prescribed information for individual auditor                               18

Schedule 8—Schemes of arrangement under Part 5.1 of the Act    19

Chapter 5—External administration                                                                       19

Part 1—Interpretation and application                                                            19

Part 2—Prescribed information relating to proposed compromise or arrangement with creditors or class of creditors                                                      20

Part 3—Prescribed information relating to proposed compromise or arrangement with members or a class of members                                                  21

Part 4—Prescribed information relating to proposed compromise or arrangement with members or class of members for transfer to a trustee 25

Schedule 8A—Deed of company arrangement—prescribed provisions  26

1............ Administrator deemed agent of company.......................................... 26

2............ Powers of administrator.................................................................... 26

3............ Termination of deed where arrangement fails.................................... 28

4............ Priority.............................................................................................. 28

5............ Discharge of debts............................................................................ 28

6............ Claims extinguished.......................................................................... 28

7............ Bar to creditors’ claims..................................................................... 28

8............ Making claims................................................................................... 29

10.......... Lodging of accounts.......................................................................... 29

11.......... Committee of inspection.................................................................... 29

12.......... Termination of deed where arrangement achieves purpose............... 30

Schedule 8AA—Trustee companies                                                          31

Schedule 8AB—Prescribed State and Territory provisions for paragraph 601RAE(4)(a) of the Act                       32

Schedule 8AC—Prescribed State and Territory laws and provisions for paragraph 601RAE(4)(b) of the Act—estate administration                                                                                                                         33

Schedule 8AD—Prescribed State and Territory laws and provisions for paragraph 601RAE(4)(b) of the Act                       34

Schedule 8AE—Relevant State and Territory provisions 36

Schedule 8B—Option contract—prescribed indexes              37

Schedule 8C—Modifications of Part 7.5 of the Act—compensation regimes                                                                                                                         39

Schedule 8D—Tables for reporting portfolio holding information              43

1............ Table 1—Assets................................................................................ 43

2............ Table 2—Derivatives by kind of derivative....................................... 46

3............ Table 3—Derivatives by asset class.................................................. 46

4............ Table 4—Derivatives by currency..................................................... 46

Schedule 9—Companies authorised to effect transfers under Part 7.11 of the Act                                                                                                                47

Schedule 10—Disclosure of fees and other costs                         48

Part 1—Interpretation                                                                                                      48

101........ Definitions........................................................................................ 48

102........ Management costs............................................................................. 50

103........ Transactional and operational costs................................................... 51

104........ Indirect cost ratio............................................................................... 51

Part 2—Fees and Costs Template, example of annual fees and costs and Consumer Advisory Warning for Product Disclosure Statements                                   52

Division 1—The fees and costs template for superannuation products 52

201........ Template for superannuation products.............................................. 52

Division 2—The fees and costs template for collective investment products      54

202........ Template for a multiple fee structure—collective investment products 54

202A..... Template for single fee structure—collective investment products.... 55

Division 3—How to fill in the template                                                             57

203........ The preamble..................................................................................... 57

204........ Column 2—presentation of amounts................................................. 57

205........ Column 2—include information for each MySuper product or investment option   57

206........ Presentation of multiple fee payment options.................................... 58

207........ Column 3—how and when fees and costs are payable..................... 58

208........ Other material to be included in the template..................................... 58

Division 4—Additional explanation of fees and costs                                59

209........ Matters to be included as additional explanation of fees and costs.... 59

Division 4A—Defined fees for superannuation products                        61

209A..... Defined fees for superannuation products......................................... 61

Division 5—Example of annual fees and costs                                              63

210........ Example of annual fees and costs...................................................... 63

211........ Superannuation products—Example of annual fees and costs for a MySuper product            63

212........ Collective investment products—Example of annual fees and costs for a balanced investment option.......................................................................................................... 63

213........ Defined benefit funds........................................................................ 64

Division 6—How to fill in the example of annual fees and costs         65

214........ Fees and costs must be ongoing amounts......................................... 65

214A..... Example of annual fees and costs for a MySuper product—lifecycle MySuper product          65

215........ Minimum entry balance rule.............................................................. 65

216........ Exit fees............................................................................................ 65

217........ Contribution fees............................................................................... 65

218........ Administration fees and investment fees for a superannuation product 66

218A..... Management costs for a collective investment product...................... 66

219........ Withdrawal fees and exit fees............................................................ 67

220........ If there is no generic MySuper product or balanced investment option 67

Division 7—Consumer Advisory Warning                                                     68

221........ Consumer advisory warning............................................................. 68

222........ Where to place the Consumer Advisory Warning............................. 68

Part 3—Fees and costs in periodic statements                                                    69

Division 1—Other Management Costs                                                              69

301........ Indirect costs related to investment and administration of accounts... 69

Division 2—Total fees                                                                                                70

302........ Total of fees in the periodic statement............................................... 70

Division 3—Additional Explanation of Fees and Costs                            71

303........ Matters to be included as additional explanation of fees and costs.... 71

Schedule 10A—Modifications of Part 7.9 of the Act              72

Part 1—Modifications relating to sub‑plans                                                        72

Part 2—Modifications relating to Product Disclosure Statements for RSA products     73

Part 3—Modifications relating to insurance options under contract associated with superannuation interest                                                                                74

Part 5A—Modifications for margin loan                                                              75

Part 5B—Modifications for superannuation products to which Subdivision 4.2B of Division 4 of Part 7.9 applies                                                                     77

Part 5C—Modifications for simple managed investment scheme          79

Part 6—Modifications relating to application forms and Product Disclosure Statements for standard employer‑sponsor arrangements and successor funds               81

Part 6A—Modifications relating to MySuper measures                              82

Part 7—Modifications relating to life pensioners, members subject to compulsory protection of small amounts and members with small amounts that are expected to grow quickly                                                                                                                     83

Part 8—Modifications relating to periodic statements for RSA providers             85

Part 9—Modifications relating to periodic statements for superannuation entities and RSA providers                                                                                                                87

Part 10—Modifications relating to ongoing disclosure of material changes and significant events in relation to superannuation products and RSAs       88

Part 11—Modifications relating to charges for information requested 90

Part 12—Modifications relating to information when member leaves a fund      91

Part 13—Modifications relating to exceptions to exit reporting period provisions            92

Part 14—Modifications relating to obligation to give information about financial products                                                                                                                                      93

Part 15—Modifications for confirmation of transactions                           95

Part 16—Modifications relating to reporting periods                                    96

Part 17—Modifications relating to application forms for specified superannuation products                                                                                                                                      97

Part 18—Modification of Part 7.9 of the Act—New Zealand offer documents replace Product Disclosure Statements where an offer relates to interests in a New Zealand managed investment scheme                                                                      98

Part 19—Modifications for carbon units, Australian carbon credit units and eligible international emissions units                                                                      99

Schedule 10AA—Modifications of the Act in relation to their application in respect of a recognised offer or a proposed offer of securities that may become a recognised offer                                   110

Part 1—Modification of Part 6D.2 of the Act—disclosure to investors not required for recognised offer under Chapter 8                                                        110

Part 2—Modification of Part 7.9 of the Act—disclosure to investors not required for recognised offer under Chapter 8                                                        111

Schedule 10BA—Modifications of the Act relating to Short‑Form Product Disclosure Statements                                                            113

Part 1—Modifications of Part 7.7 of the Act