Mutual Assistance in Business Regulation Amendment Regulation 2012 (No. 1)1

Select Legislative Instrument 2012 No. 312

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the Mutual Assistance in Business Regulation Act 1992.

Dated 6 December 2012

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

BERNIE RIPOLL

Parliamentary Secretary to the Treasurer

1 Name of regulation

  This regulation is the Mutual Assistance in Business Regulation Amendment Regulation 2012 (No. 1).

2 Commencement

  This regulation commences on the day after it is registered.

3 Amendment of Mutual Assistance in Business Regulation Regulations

  Schedule 1 amends the Mutual Assistance in Business Regulation Regulations.

Schedule 1 Amendments

(section 3)

[1] Regulation 1

substitute

1 Name of regulations

  These Regulations are the Mutual Assistance in Business Regulation Regulations 1992.

[2] Regulation 3

substitute

3 Definition

  In these Regulations:

  Act means the Mutual Assistance in Business Regulation Act 1992.

Note   For the definitions of the following terms, see subsection 3 (1) of the Act:

 foreign business law

 foreign regulator

 foreign request.

[3] Regulation 5

omit

For the purposes of

insert

 (1) For the purposes of

[4] Subparagraphs 5 (a) (i), (ii) and (iii)

substitute

 (i) any periods of time to which the request relates; and

 (ii) the names, and last known addresses, of individuals to whom, or bodies corporate to which, the request relates or refers;

[5] Paragraph 5 (d)

substitute

 (d) a copy of the relevant foreign business law, and an English translation if the law is not in English;

[6] Paragraph 5 (n)

substitute

 (n) the name and contact details of an officer of the foreign regulator who is familiar with the subject matter of the request and who will be available to answer any questions in relation to the request from an officer of the Commonwealth regulator.

[7] Regulation 5

insert

 (2) If the foreign request is in relation to a suspected contravention of a foreign business law, the following additional information is required:

 (a) a description in general terms of the conduct under investigation;

 (b) a statement of the way in which the facts give rise to a belief or suspicion that the foreign business law has been, or may have been, contravened.

[8] Further amendments

Note

1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.