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ASIC Corporations (Amendment) Instrument 2022/519

Authoritative Version
  • - F2022L00839
  • In force - Latest Version
Other as made
This instrument amends the ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 for changes to legislation impacting the financial reporting requirements of entities under the Corporations Act 2001.
Administered by: Treasury
Registered 27 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To be repealed 26 Oct 2022
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003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 and ASIC logo

ASIC Corporations (Amendment) Instrument 2022/519

I, Douglas Niven, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date    24 June 2022

 

 

 

Douglas Niven

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2022/519.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note:    The register may be accessed at www.legislation.gov.au.

3        Authority

This instrument is made under subsections 341(1) and 992B(1) of 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Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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 1—Amendments

ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191

1        Section 4 (paragraph (d) of the definition of entity)

Omit “.”, substitute “;”.

2        Section 4 (after paragraph (d) of the definition of entity)

Insert:

(e)     a sub-fund of a CCIV.

3        Section 4 (subparagraph (a)(ii) of the definition of rounding factor)

After “(AASB 2)”, insert “or paragraph 168 of Accounting Standard AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities (AASB 1060)”.

4        Section 4 (subparagraph (a)(iii) of the definition of rounding factor)

After “AASB 1054 Australian Additional Disclosures”, insert “or paragraph 194 of AASB 1060”.

5        Section 4 (subparagraph (a)(iv) of the definition of rounding factor)

After “(AASB 124)”, insert “or paragraph 194 of AASB 1060”.

6        Section 4 (subparagraph (a)(v) of the definition of rounding factor)

After “paragraphs 18”, insert “, 18A”.

7        Section 4 (subparagraph (a)(v) of the definition of rounding factor)

After “AASB 124”, insert “or paragraphs 196, 198 and 199 of AASB 1060”.

8        Section 4 (paragraph (c) of the definition of rounding factor)

After “AASB 2”, insert “, paragraph 164 of AASB 1060”.