Federal Register of Legislation - Australian Government

Primary content

Regulations as made
This instrument amends multiple instruments to update the list of prescribed professional schemes that have capped civil liability for misleading and deceptive conduct. This provides consistency across Commonwealth and State and Territory laws.
Administered by: Treasury
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 09B, Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 16, Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 18
Registered 24 Jun 2022
Tabling HistoryDate
Tabled HR26-Jul-2022
Tabled Senate26-Jul-2022
To be repealed 26 Oct 2022
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

Commonwealth Coat of Arms of Australia

 

Treasury Laws Amendment (Professional Standards Schemes No. 2) Regulations 2022

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 23 June 2022

David Hurley

Governor‑General

By His Excellency’s Command

Dr James Edward Chalmers

Treasurer

 

 

 

  

  


Contents

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

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

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

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

Schedule 1—Amendments                                                                                                                          2

Australian Securities and Investments Commission Regulations 2001                                      2

Competition and Consumer Regulations 2010                                                                                2

Corporations Regulations 2001                                                                                                         3

 


1  Name

                   This instrument is the Treasury Laws Amendment (Professional Standards Schemes No. 2) Regulations 2022.

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.  The whole of this instrument

1 July 2022.

1 July 2022

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 Australian Securities and Investments Commission Act 2001;

                     (b)  the Competition and Consumer Act 2010;

                     (c)  the Corporations Act 2001.

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

  

Australian Securities and Investments Commission Regulations 2001

1  Regulation 3A (table item 6)

Repeal the item, substitute:

 

6

The Law Institute of Victoria Limited Professional Standards Scheme, published in the Victoria Government Gazette No. G 11, 17 March 2022

Note:       This Scheme was formerly the Law Institute of Victoria Limited Scheme, published in the Victoria Government Gazette No. G 16, 21 April 2016, including as modified by the extension published in the Victoria Government Gazette No. G 9, 4 March 2021.

1 July 2022

2  Regulation 3A (table item 16)

Repeal the item, substitute:

 

16

The South Australian Bar Association Professional Standards Scheme, published in the South Australian Government Gazette No. 15, 10 March 2022

Note:       This Scheme was formerly the South Australian Bar Association Inc Professional Standards Scheme, published in the South Australian Government Gazette No. 35, 30 May 2017.

1 July 2022

3  Regulation 3A (cell at table item 19, column 2)

Repeal the cell, substitute:

 

22 March 2022

Competition and Consumer Regulations 2010

4  Regulation 8A (table item 14)

Repeal the item, substitute:

 

14

The Law Institute of Victoria Limited Professional Standards Scheme, published in the Victoria Government Gazette No. G 11, 17 March 2022

Note:       This Scheme was formerly the Law Institute of Victoria Limited Scheme, published in the Victoria Government Gazette No. G 16, 21 April 2016, including as modified by the extension published in the Victoria Government Gazette No. G 9, 4 March 2021.

1 July 2022

5  Regulation 8A (table item 27)

Repeal the item, substitute:

 

27

The South Australian Bar Association Professional Standards Scheme, published in the South Australian Government Gazette No. 15, 10 March 2022

Note:       This Scheme was formerly the South Australian Bar Association Inc Professional Standards Scheme, published in the South Australian Government Gazette No. 35, 30 May 2017.

1 July 2022

6  Regulation 8A (cell at table item 34, column 2)

Repeal the cell, substitute:

 

22 March 2022

Corporations Regulations 2001

7  Regulation 7.10.02 (table item 6)

Repeal the item, substitute:

 

6

The Law Institute of Victoria Limited Professional Standards Scheme, published in the Victoria Government Gazette No. G 11, 17 March 2022

Note:       This Scheme was formerly the Law Institute of Victoria Limited Scheme, published in the Victoria Government Gazette No. G 16, 21 April 2016, including as modified by the extension published in the Victoria Government Gazette No. G 9, 4 March 2021.

1 July 2022

8  Regulation 7.10.02 (table item 16)

Repeal the item, substitute:

 

16

The South Australian Bar Association Professional Standards Scheme, published in the South Australian Government Gazette No. 15, 10 March 2022

Note:       This Scheme was formerly the South Australian Bar Association Inc Professional Standards Scheme, published in the South Australian Government Gazette No. 35, 30 May 2017.

1 July 2022

9  Regulation 7.10.02 (cell at table item 19, column 2)

Repeal the cell, substitute:

 

22 March 2022