CORPORATIONS ACT 2001
Table of Provisions
CHAPTER 1--Introductory
PART 1.1----PRELIMINARY
- 1 Short title
- 2 Commencement
- 3 Constitutional basis for this Act
- 4 Referring States
- 5 General territorial application of Act
- 5A Application to the Crown
- 5B ASIC has general administration of this Act
PART 1.1A----INTERACTION BETWEEN CORPORATIONS LEGISLATION AND STATE AND TERRITORY LAWS
- 5D Coverage of Part
- 5E Concurrent operation intended
- 5F Corporations legislation does not apply to matters declared by State or Territory law to be an excluded matter
- 5G Avoiding direct inconsistency arising between the Corporations legislation and State and Territory laws
- 5H Registration of body as company on basis of State or Territory law
- 5I Regulations may modify operation of the Corporations legislation to deal with interaction between that legislation and State and Territory laws
PART 1.2----INTERPRETATION
Division 1--General- 5J Simplified outline of this Part
- 6 Effect of this Part
- 7 Identifying defined terms
- 9 Dictionary
- 9AA Certain family relationships
- 9AB Meaning of asset
- 9AC Meaning of director
- 9AD Meaning of officer
- 9A Meaning of rights issue
- 9B Meaning of remuneration recommendation Division 2--Meaning of associate
- 10 Effect of Division
- 11 Associates of bodies corporate
- 12 References in Chapters 6 to 6C, and other references relating to voting power and takeovers etc.
- 13 References in Chapter 7
- 15 General
- 16 Exclusions
- 17 Associates of composite person that carries on a financial services business Division 3--Carrying on business
- 18 Carrying on business: otherwise than for profit
- 19 Businesses of a particular kind
- 20 Carrying on a business: alone or together with others
- 21 Carrying on business in Australia or a State or Territory Division 5A--Types of company
- 45A Meaning of proprietary company , small proprietary company and large proprietary company
- 45B Meaning of small company limited by guarantee Division 6--Subsidiaries and related bodies corporate
- 46 Meaning of subsidiary --general
- 47 Control of a body corporate's board
- 48 Matters to be disregarded
- 49 References in this Division to a subsidiary
- 50 Meaning of related body corporate
- 50AAA Meaning of associated entity
- 50AA Meaning of control Division 7--Meaning of some other expressions
- 51F Meaning of PPSA retention of title property
- 51M Meaning of mutual entity
- 52A Signing
- 53 Meaning of affairs-- body corporate other than a CCIV
- 53AAA Meaning of affairs --CCIV
- 53AA Meaning of business affairs-- body corporate
- 53AB Meaning of business affairs -- natural person
- 53AC Meaning of business affairs-- partnership
- 53AD Meaning of business affairs-- trust
- 57 Classes of shares or interests in managed investment schemes
- 57A Meaning of corporation
- 58AA Meaning of court and Court
- 58B Discharge of obligations under this Act
- 59 Debentures as consideration for acquisition of shares
- 60 Declaration of relevant relationships
- 64A Meaning of entity
- 64B Entities connected with a corporation
- 65 Eligible money market dealer
- 66A Meaning of exempt body corporate
- 70 Extension of period for doing an act
- 73A When a court is taken to find a person guilty of an offence
- 75 Inclusion in official list
- 79 Involvement in contraventions
- 80 Jervis Bay Territory taken to be part of the Australian Capital Territory
- 82 Offers and invitations to the public
- 86 Possession
- 88A Meaning of public document
- 88B Meaning of qualified accountant
- 89 Meaning of qualified privilege
- 90 Receivers and managers
- 91 Meaning of relation - back day
- 92 Meaning of securities
- 95A Meaning of solvent and insolvent Division 8--Miscellaneous interpretation rules
- 100 Address of registered office etc.
- 100A Operation of certain laws relating to instruments on which stamp duty has not been paid
- 101 Amount of stock representing a number of shares
- 102 Applications to be in writing
- 102B Meaning of in this jurisdiction or elsewhere and outside this jurisdiction
- 102C Meaning of in Australia
- 103 Effect of certain contraventions of this Act
- 104 Effect of provisions empowering a person to require or prohibit conduct
- 105 Calculation of time
- 105A When is an electronic communication sent and received
- 105B Place where an electronic communication is sent or received
- 107 Notice in relation to top 20 members of a class
- 108 Parts of dollar to be disregarded in determining majority in value of creditors etc.
- 109 References to persons, things and matters
- 109X Service of documents
PART 1.2AA----SIGNING AND SENDING DOCUMENTS
Division 1--Technology neutral signing- 110 When this Division applies
- 110A Technology neutral signing
- 110B Lodgement of documents Division 2--Technology neutral sending of documents, and related matters
- 110C Documents to which this Division applies
- 110D Technology neutral sending of documents
- 110E Election to be sent documents in physical form or electronic form, or not to be sent documents
- 110F Failure to comply with member's election to be sent document in particular form
- 110G Failure to comply with member's election not to be sent documents
- 110H Effect of election not to be sent documents
- 110J Ad hoc requests to be sent documents in a particular form
- 110JA Sender does not need to send document if member uncontactable
- 110K Obligation to give notice of members' rights
PART 1.2A----DISCLOSING ENTITIES
Division 1--Object of Part- 111AA Object of Part Division 2--Meaning of disclosing entity and related terms
- 111AC Meaning of disclosing entity
- 111AD Meaning of ED securities
- 111AE Securities of bodies or undertakings included in a licensed market's official list
- 111AF Securities (except debentures and managed investment products) held by 100 or more persons
- 111AFA Managed investment products held by 100 or more persons
- 111AFB Foreign passport fund products held by 100 or more persons
- 111AG Securities issued as consideration for an acquisition under an off - market takeover bid or Part 5.1 compromise or arrangement
- 111AH When a person holds securities for the purposes of sections 111AF, 111AFA, 111AFB and 111AG
- 111AI Debentures
- 111AJ Regulations may declare securities not to be ED securities
- 111AK ED securities of a disclosing entity
- 111AL Meaning of listed disclosing entity
- 111AM Meaning of quoted ED securities Division 3--Significance of being a disclosing entity
- 111AN Division contains outline of significance of being a disclosing entity
- 111ANA Requirements relating to remuneration recommendations in relation to key management personnel
- 111AO Accounting requirements
- 111AP Continuous disclosure requirements
- 111AQ Prospectus relief
- 111AQA Product Disclosure Statement relief Division 4--Exemptions and modifications
- 111AR Meaning of disclosing entity provisions
- 111AS Exemptions by regulations
- 111AT Exemptions by ASIC
- 111AU Enforcing conditions of exemptions
- 111AV Modifications by regulations
- 111AW Exemptions and modifications have effect
- 111AX Effect of Division
PART 1.4----TECHNICAL PROVISIONS ABOUT AIDS FOR READERS
- 111J Small business guide
PART 1.5----SMALL BUSINESS GUIDE
- 1.5.1 What registration means
- 1.5.2 The company structure for small business
- 1.5.3 Setting up a new company
- 1.5.4 Continuing obligations after the company is set up
- 1.5.5 Company directors and company secretaries
- 1.5.6 Shares and shareholders
- 1.5.7 Signing company documents
- 1.5.8 Funding the company's operations
- 1.5.9 Returns to shareholders
- 1.5.10 Annual financial reports and audit
- 1.5.11 Disagreements within the company
- 1.5.12 Companies in financial trouble
PART 1.6----INTERACTION WITH AUSTRALIAN CHARITIES AND NOT-FOR-PROFITS COMMISSION ACT 2012
- 111K Bodies corporate registered under the Australian Charities and Not - for - profits Commission Act 2012
- 111L Provisions not applicable to the body corporate
- 111M Member approval
- 111N Notices
- 111P Annual general meetings
- 111Q Presumptions to be made in recovery proceedings
CHAPTER 2A--Registering a company
PART 2A.1----WHAT COMPANIES CAN BE REGISTERED
- 112 Types of companies
- 113 Proprietary companies
- 114 Minimum of 1 member
- 115 Restrictions on size of partnerships and associations
- 116 Trade unions cannot be registered
PART 2A.2----HOW A COMPANY IS REGISTERED
- 117 Applying for registration
- 118 ASIC gives company ACN, registers company and issues certificate
- 119 Company comes into existence on registration
- 119A Jurisdiction of incorporation and jurisdiction of registration
- 120 Members, directors and company secretary of a company
- 121 Registered office
- 122 Expenses incurred in promoting and setting up company
- 123 Company may have common seal
CHAPTER 2B--Basic features of a company
PART 2B.1----COMPANY POWERS AND HOW THEY ARE EXERCISED
- 124 Legal capacity and powers of a company
- 125 Constitution may limit powers and set out objects
- 126 Agent exercising a company's power to make contracts and execute documents (including deeds)
- 127 Execution of documents (including deeds) by the company itself
PART 2B.2----ASSUMPTIONS PEOPLE DEALING WITH COMPANIES ARE ENTITLED TO MAKE
- 128 Entitlement to make assumptions
- 129 Assumptions that can be made under section 128
- 130 Information available to the public from ASIC does not constitute constructive notice
PART 2B.3----CONTRACTS BEFORE REGISTRATION
- 131 Contracts before registration
- 132 Person may be released from liability but is not entitled to indemnity
- 133 This Part replaces other rights and liabilities
PART 2B.4----REPLACEABLE RULES AND CONSTITUTION
- 134 Internal management of companies
- 135 Replaceable rules
- 136 Constitution of a company
- 137 Date of effect of adoption, modification or repeal of constitution
- 138 ASIC may direct company to lodge consolidated constitution
- 139 Company must send copy of constitution to member
- 140 Effect of constitution and replaceable rules
- 141 Table of replaceable rules
PART 2B.5----REGISTERED OFFICE AND PLACES OF BUSINESS
- 142 Registered office
- 143 ASIC may change address of registered office to a director's address
- 144 Company's name must be displayed at registered office etc.
- 145 Opening hours of registered office of public company
- 146 Change of address of principal place of business
- 146A Contact address
PART 2B.6----NAMES
Division 1--Selecting and using a name- 147 When a name is available
- 148 A company's name
- 149 Acceptable abbreviations
- 150 Exception to requirement for using "Limited" in name
- 151 Exception to requirement for using "Limited" in name--pre - existing licences
- 152 Reserving a name
- 153 Using a name and ACN on documents
- 154 Exception to requirement to have ACN on receipts
- 155 Regulations may exempt from requirement to set out information on documents
- 156 Carrying on business using "Limited", "No Liability" or "Proprietary" in name Division 2--Changing a company's name
- 157 Company changing its name
- 157A Change of name of company under external administration
- 158 ASIC's power to direct company to change its name
- 159 ASIC's power to include "Limited" in company's name
- 160 ASIC must issue new certificate if company's name changes
- 161 Effect of name change
- 161A Company under external administration--former name to be used on documents
PART 2B.7----CHANGING COMPANY TYPE
- 162 Changing company type
- 163 Applying for change of type
- 164 ASIC changes type of company
- 165 ASIC may direct a proprietary company to change to a public company in certain circumstances
- 166 Effect of change of type
- 167 Issue of shares by company or holding company--company limited by guarantee changing to company limited by shares
- 167AA Application of Part to company limited both by shares and by guarantee
PART 2B.8----MUTUAL CAPITAL INSTRUMENTS (MCIS)
Division 1--Preliminary- 167AB Simplified outline of this Part Division 2--MCI mutual entities and MCIs
- 167AC Meaning of MCI mutual entity
- 167AD Meaning of MCI
- 167AE MCI requirements--class rights
- 167AF MCI requirements--other requirements
- 167AG MCIs must be cancelled before MCI mutual entity demutualises Division 3--Special procedure for amending constitution of mutual entity that proposes to issue MCIs
- 167AH Purpose and application of this Division
- 167AI MCI amendment resolution
- 167AJ Procedure for MCI amendment resolution
CHAPTER 2C--Registers
PART 2C.1----REGISTERS GENERALLY
- 167A Who is covered by this Chapter
- 168 Registers to be maintained
- 169 Register of members
- 170 Register of option holders and copies of options documents
- 171 Register of debenture holders
- 172 Location of registers
- 173 Right to inspect and get copies
- 174 Agent's obligations
- 175 Correction of registers
- 176 Evidentiary value of registers
- 177 Use of information on registers
- 178 Overseas branch registers--companies
- 178AA Overseas branch registers--Australian passport funds
PART 2C.2----NOTICE BY PROPRIETARY COMPANIES OF CHANGES TO MEMBER REGISTER
- 178A Notice of change to member register
- 178B Top 20 only
- 178C Notice of change to share structure
- 178D Time within which ASIC must be notified
CHAPTER 2D--Officers and employees
PART 2D.1----DUTIES AND POWERS
- 179 Simplified outline of this Part Division 1--General duties
- 180 Care and diligence--civil obligation only
- 181 Good faith--civil obligations
- 182 Use of position--civil obligations
- 183 Use of information--civil obligations
- 184 Good faith, use of position and use of information--criminal offences
- 185 Interaction of sections 180 to 184 with other laws etc.
- 186 Territorial application of sections 180 to 184
- 187 Directors of wholly - owned subsidiaries
- 188 Responsibility of secretaries etc. for certain corporate contraventions
- 189 Reliance on information or advice provided by others
- 190 Responsibility for actions of delegate
- 190A Limited application of Division to registrable Australian bodies
- 190B Division does not apply to Aboriginal and Torres Strait Islander corporations
- 190C Division does not apply in relation to notified foreign passport funds or their operators Division 2--Disclosure of, and voting on matters involving, material personal interests
- 191 Material personal interest--director's duty to disclose
- 192 Director may give other directors standing notice about an interest
- 193 Interaction of sections 191 and 192 with other laws etc.
- 194 Voting and completion of transactions--directors of proprietary companies ( replaceable rule--see section 135 )
- 195 Restrictions on voting--directors of public companies only
- 196 ASIC power to make declarations and class orders Division 3--Duty to discharge certain trust liabilities
- 197 Directors liable for debts and other obligations incurred by corporation as trustee Division 4--Powers
- 198A Powers of directors ( replaceable rule--see section 135 )
- 198B Negotiable instruments ( replaceable rule--see section 135 )
- 198C Managing director ( replaceable rule--see section 135 )
- 198D Delegation
- 198E Single director/shareholder proprietary companies
- 198F Right of access to company books Division 5--Exercise of powers while company under external administration
- 198G Exercise of powers while company under external administration
PART 2D.2----RESTRICTIONS ON INDEMNITIES, INSURANCE AND TERMINATION PAYMENTS
Division 1--Indemnities and insurance for officers and auditors- 199A Indemnification and exemption of officer or auditor
- 199B Insurance premiums for certain liabilities of director, secretary, other officer or auditor
- 199C Certain indemnities, exemptions, payments and agreements not authorised and certain documents void Division 2--Termination payments
- 200 Interpreting this Division
- 200AA Meaning of managerial or executive office
- 200AB Meaning of benefit
- 200A When benefit given in connection with retirement from an office or position
- 200B Retirement benefits generally need membership approval
- 200C Benefits on transfer of undertaking or property need membership approval
- 200D Contravention to receive benefit without member approval
- 200E Approval by members
- 200F Exempt benefits and benefits given in certain circumstances
- 200G Genuine payments of pension and lump sum
- 200H Benefits required by law
- 200J Benefits to be held on trust and repaid
PART 2D.3----APPOINTMENT, REMUNERATION AND CESSATION OF APPOINTMENT OF DIRECTORS
Division 1--Appointment of directors Subdivision A--General rules- 201A Minimum number of directors
- 201B Who can be a director
- 201D Consent to act as director
- 201E Special rules for the appointment of public company directors
- 201F Special rules for the appointment of directors for single director/single shareholder proprietary companies
- 201G Company may appoint a director (replaceable rule--see section 135)
- 201H Directors may appoint other directors (replaceable rule--see section 135)
- 201J Appointment of managing directors (replaceable rule--see section 135)
- 201K Alternate directors (replaceable rule--see section 135)
- 201L Signpost--ASIC to be notified of appointment
- 201M Effectiveness of acts by directors Subdivision B--Limits on numbers of directors of public companies
- 201N Application of Subdivision
- 201P Directors must not set board limit unless proposed limit has been approved by general meeting
- 201Q Requirements for explanatory statement to members
- 201R Records of voting on board limit resolution if poll required
- 201S Notice of resolution to be lodged
- 201T Declaration by court of substantial compliance
- 201U Consequences of setting board limit in breach of section 201P Division 2--Remuneration of directors
- 202A Remuneration of directors (replaceable rule--see section 135)
- 202B Members may obtain information about directors' remuneration
- 202C Special rule for single director/single shareholder proprietary companies Division 3--Resignation, retirement or removal of directors
- 203A Director may resign by giving written notice to company (replaceable rule--see section 135)
- 203AA Resignation of directors--when resignation takes effect
- 203AB Resignation of directors--resignation has no effect if company has no other directors
- 203B Signpost to consequences of disqualification from managing corporations
- 203C Removal by members--proprietary companies (replaceable rule--see section 135)
- 203CA Resolution to remove directors--resolution is void if proprietary company has no other directors
- 203D Removal by members--public companies
- 203E Director cannot be removed by other directors--public companies
- 203F Termination of appointment of managing director (replaceable rule--see section 135)
PART 2D.4----APPOINTMENT OF SECRETARIES
- 204A Minimum number of secretaries
- 204B Who can be a secretary
- 204C Consent to act as secretary
- 204D How a secretary is appointed
- 204E Effectiveness of acts by secretaries
- 204F Terms and conditions of office for secretaries ( replaceable rule--see section 135 )
- 204G Signpost to consequences of disqualification from managing corporations
PART 2D.5----PUBLIC INFORMATION ABOUT DIRECTORS AND SECRETARIES
- 205A Director, secretary or alternate director may notify ASIC of resignation or retirement
- 205B Notice of name and address of directors and secretaries to ASIC
- 205C Director and secretary must give information to company
- 205D Address for officers
- 205E ASIC's power to ask for information about person's position as director or secretary
- 205F Director must give information to company
- 205G Listed company--director to notify market operator of shareholdings etc.
PART 2D.6----DISQUALIFICATION FROM MANAGING CORPORATIONS
- 206A Disqualified person not to manage corporations
- 206B Automatic disqualification--convictions, bankruptcy and foreign court orders etc.
- 206BA Extension of period of automatic disqualification under section 206B
- 206C Court power of disqualification--contravention of civil penalty provision
- 206D Court power of disqualification--insolvency and non - payment of debts
- 206E Court power of disqualification--repeated contraventions of Act
- 206EAA Court power of disqualification--disqualification under a law of a foreign jurisdiction
- 206EAB Court power of disqualification--unrecovered payments under employee entitlements scheme
- 206EA Disqualification under the Competition and Consumer Act 2010 etc.
- 206EB Disqualification under the ASIC Act
- 206F ASIC's power of disqualification
- 206GAA ASIC's power of disqualification--unrecovered payments under employee entitlements scheme
- 206GAB ASIC power to grant leave
- 206G Court power to grant leave
- 206GA Involvement of ACCC--leave orders under section 206G
- 206H Limited application of Part to foreign companies
- 206HAA Limited application of Part to notified foreign passport funds and their operators
- 206HA Limited application of Part to registrable Australian bodies
- 206HB Part does not apply to Aboriginal and Torres Strait Islander corporations
PART 2D.7----BAN ON HEDGING REMUNERATION OF KEY MANAGEMENT PERSONNEL
- 206J No hedging of remuneration of key management personnel
PART 2D.8----REMUNERATION RECOMMENDATIONS IN RELATION TO KEY MANAGEMENT PERSONNEL FOR DISCLOSING ENTITIES
- 206K Board to approve remuneration consultants
- 206L Remuneration recommendation by remuneration consultants
- 206M Declaration by remuneration consultant
CHAPTER 2E--Related party transactions
- 207 Purpose
PART 2E.1----MEMBER APPROVAL NEEDED FOR RELATED PARTY BENEFIT
Division 1--Need for member approval- 208 Need for member approval for financial benefit
- 209 Consequences of breach Division 2--Exceptions to the requirement for member approval
- 210 Arm's length terms
- 211 Remuneration and reimbursement for officer or employee
- 212 Indemnities, exemptions, insurance premiums and payment for legal costs for officers
- 213 Small amounts given to related entity
- 214 Benefit to or by closely - held subsidiary
- 215 Benefits to members that do not discriminate unfairly
- 216 Court order Division 3--Procedure for obtaining member approval
- 217 Resolution may specify matters by class or kind
- 218 Company must lodge material that will be put to members with ASIC
- 219 Requirements for explanatory statement to members
- 220 ASIC may comment on proposed resolution
- 221 Requirements for notice of meeting
- 222 Other material put to members
- 223 Proposed resolution cannot be varied
- 224 Voting by or on behalf of related party interested in proposed resolution
- 225 Voting on the resolution
- 226 Notice of resolution to be lodged
- 227 Declaration by court of substantial compliance
PART 2E.2----RELATED PARTIES AND FINANCIAL BENEFITS
- 228 Related parties
- 229 Giving a financial benefit
PART 2E.3----INTERACTION WITH OTHER RULES
- 230 General duties still apply
CHAPTER 2F--Members' rights and remedies
- 231 Membership of a company
PART 2F.1----OPPRESSIVE CONDUCT OF AFFAIRS
- 232 Grounds for Court order
- 233 Orders the Court can make
- 234 Who can apply for order
- 235 Requirement for person to lodge order
PART 2F.1A----PROCEEDINGS ON BEHALF OF A COMPANY BY MEMBERS AND OTHERS
- 236 Bringing, or intervening in, proceedings on behalf of a company
- 237 Applying for and granting leave
- 238 Substitution of another person for the person granted leave
- 239 Effect of ratification by members
- 240 Leave to discontinue, compromise or settle proceedings brought, or intervened in, with leave
- 241 General powers of the Court
- 242 Power of the Court to make costs orders
PART 2F.2----CLASS RIGHTS
- 246B Varying and cancelling class rights
- 246C Certain actions taken to vary rights etc.
- 246D Variation, cancellation or modification without unanimous support of class
- 246E Variation, cancellation or modification with unanimous support of class
- 246F Company must lodge documents and resolutions with ASIC
- 246G Member's copies of documents and resolutions
- 246H Application of this Part to MCI mutual entities that are companies limited by guarantee
PART 2F.3----INSPECTION OF BOOKS
- 247A Order for inspection of books of company or registered scheme
- 247B Ancillary orders
- 247C Disclosure of information acquired in inspection
- 247D Company or directors may allow member to inspect books (replaceable rule see section 135)
PART 2F.4----PROCEEDINGS AGAINST A COMPANY BY MEMBERS AND OTHERS
- 247E Shareholding does not prevent compensation claim
CHAPTER 2G--Meetings
PART 2G.1----DIRECTORS' MEETINGS
Division 1--Resolutions and declarations without meetings- 248A Circulating resolutions of companies with more than 1 director (replaceable rule see section 135)
- 248B Resolutions and declarations of 1 director proprietary companies Division 2--Directors' meetings
- 248C Calling directors' meetings (replaceable rule see section 135)
- 248D Use of technology
- 248E Chairing directors' meetings (replaceable rule see section 135)
- 248F Quorum at directors' meetings (replaceable rule see section 135 )
- 248G Passing of directors' resolutions (replaceable rule see section 135)
PART 2G.2----MEETINGS OF MEMBERS OF COMPANIES
Division 1--Resolutions without meetings- 249A Circulating resolutions of proprietary companies with more than 1 member
- 249B Resolutions of 1 member companies Division 2--Who may call meetings of members
- 249C Calling of meetings of members by a director (replaceable rule--see section 135)
- 249CA Calling of meetings of members of a listed company by a director
- 249D Calling of general meeting by directors when requested by members
- 249E Failure of directors to call general meeting
- 249F Calling of general meetings by members
- 249G Calling of meetings of members by the Court Division 3--How to call meetings of members
- 249H Amount of notice of meetings
- 249HA Amount of notice of meetings of listed company
- 249J Notice of meetings of members to members and directors
- 249K Auditor entitled to notice and other communications
- 249L Contents of notice of meetings of members
- 249LA Notice of meeting not required to contain certain information
- 249M Notice of adjourned meetings (replaceable rule--see section 135) Division 4--Members' rights to put resolutions etc. at general meetings
- 249N Members' resolutions
- 249O Company giving notice of members' resolutions
- 249P Members' statements to be distributed Division 5--Holding meetings of members
- 249Q Purpose
- 249R How meetings of members may be held
- 249RA Place and time of meetings and presence at meetings
- 249S Reasonable opportunity to participate
- 249T Quorum (replaceable rule--see section 135)
- 249U Chairing meetings of members (replaceable rule--see section 135)
- 249V Auditor's right to be heard at general meetings
- 249W Adjourned meetings Division 6--Proxies and body corporate representatives
- 249X Who can appoint a proxy (replaceable rule for proprietary companies and mandatory rule for public companies--see section 135)
- 249Y Rights of proxies
- 249Z Company sending appointment forms or lists of proxies must send to all members
- 250A Appointing a proxy
- 250B Proxy documents
- 250BA Proxy documents--listed companies
- 250BB Proxy vote if appointment specifies way to vote
- 250BC Transfer of non - chair proxy to chair in certain circumstances
- 250BD Proxy voting by key management personnel or closely related parties
- 250C Validity of proxy vote
- 250D Body corporate representative Division 7--Voting at meetings of members
- 250E How many votes a member has (replaceable rule--see section 135)
- 250F Jointly held shares (replaceable rule--see section 135)
- 250G Objections to right to vote (replaceable rule--see section 135)
- 250H Votes need not all be cast in the same way
- 250J How voting is carried out (replaceable rule--see section 135)
- 250JA Certain resolutions must be decided on a poll--listed companies
- 250K Matters on which a poll may be demanded
- 250L When a poll is effectively demanded
- 250M When and how polls must be taken (replaceable rule--see section 135)
- 250MA Requirements for a special resolution Division 8--AGMs of public companies
- 250N Public company must hold AGM
- 250P Extension of time for holding AGM
- 250PAA Exemptions by ASIC--class orders relating to externally - administered companies
- 250PAB Exemptions by ASIC--individual externally - administered companies
- 250PA Written questions to auditor submitted by members of listed company before AGM
- 250R Business of AGM
- 250RA Auditor required to attend listed company's AGM
- 250S Questions and comments by members on company management at AGM
- 250SA Listed company--remuneration report
- 250T Questions by members of auditors at AGM Division 9--Meetings arising from concerns about remuneration reports
- 250U Application
- 250V Resolution to hold fresh elections for directors at special meeting to be put to vote at AGM
- 250W Consequences of spill resolution being passed
- 250X Ensuring there are at least 3 directors after spill meeting
- 250Y Term of office of director reappointed at spill meeting
PART 2G.3----MINUTES AND MEMBERS' ACCESS TO MINUTES
PART 2G.4----MEETINGS OF MEMBERS OF REGISTERED SCHEMES
Division 1--Who may call meetings of members- 252A Calling of meetings of members by responsible entity
- 252B Calling of meetings of members by responsible entity when requested by members
- 252C Failure of responsible entity to call meeting of the scheme's members
- 252D Calling of meetings of members by members
- 252E Calling of meetings of members by the Court Division 2--How to call meetings of members
- 252F Amount of notice of meetings
- 252G Notice of meetings of members to members, directors and auditors
- 252H Auditors entitled to other communications
- 252J Contents of notice of meetings of members
- 252K Notice of adjourned meetings Division 3--Members' rights to put resolutions etc. at meetings of members
- 252L Members' resolutions
- 252M Responsible entity giving notice of members' resolutions
- 252N Members' statements to be distributed Division 4--Holding meetings of members
- 252P How meetings of members may be held
- 252PA Place and time of meetings and presence at meetings
- 252Q Reasonable opportunity to participate
- 252R Quorum
- 252S Chairing meetings of members
- 252T Auditors' right to be heard at meetings of members
- 252U Adjourned meetings Division 5--Proxies and body corporate representatives
- 252V Who can appoint a proxy
- 252W Rights of proxies
- 252X Responsible entity sending appointment forms or lists of proxies must send to all members
- 252Y Appointing a proxy
- 252Z Proxy documents
- 253A Validity of proxy vote
- 253B Body corporate representative Division 6--Voting at meetings of members
- 253C How many votes a member has
- 253D Jointly held interests
- 253E Responsible entity and associates cannot vote if interested in resolution
- 253F How to work out the value of an interest
- 253G Objections to a right to vote
- 253H Votes need not all be cast in the same way
- 253J How voting is carried out
- 253K Matters on which a poll may be demanded
- 253L When a poll is effectively demanded
- 253LA Requirements for a special resolution or an extraordinary resolution Division 7--Minutes and members' access to minutes
- 253M Minutes
- 253N Members' access to minutes
PART 2G.5----ELECTRONIC RECORDING AND KEEPING OF MINUTE BOOKS
Division 4--Recording and keeping of minute booksPART 2G.6----EXCEPTIONAL CIRCUMSTANCES
PART 2G.7----INDEPENDENT REPORTS ON POLLS
- 253U Application of Part
- 253UA Independent persons
- 253UB Company members' rights to request observer and report on conduct of poll
- 253UC Company members' rights to request scrutiny and report on outcome of poll
- 253UD Registered scheme members' rights to request observer and report on conduct of poll
- 253UE Registered scheme members' rights to request scrutiny and report on outcome of poll
- 253UF Right of independent person to information
- 253UG Record - keeping for reports on polls
CHAPTER 2H--Shares
PART 2H.1----ISSUING AND CONVERTING SHARES
- 254A Power to issue bonus, partly - paid, preference and redeemable preference shares
- 254B Terms of issue
- 254C No par value shares
- 254D Pre - emption for existing shareholders on issue of shares in proprietary company (replaceable rule--see section 135)
- 254E Court validation of issue
- 254F Bearer shares and stock must not be issued
- 254G Conversion of shares
- 254H Resolution to convert shares into larger or smaller number
PART 2H.2----REDEMPTION OF REDEEMABLE PREFERENCE SHARES
- 254J Redemption must be in accordance with terms of issue
- 254K Other requirements about redemption
- 254L Consequences of contravening section 254J or 254K
PART 2H.3----PARTLY-PAID SHARES
- 254M Liability on partly - paid shares
- 254N Calls may be limited to when company is externally - administered
- 254P No liability companies--calls on shares
- 254Q No liability companies--forfeiture and sale of shares for failure to meet call
- 254R No liability companies--redemption of forfeited shares
PART 2H.4----CAPITALISATION OF PROFITS
- 254S Capitalisation of profits
PART 2H.5----DIVIDENDS
- 254SA Companies limited by guarantee not to pay dividends
- 254T Circumstances in which a dividend may be paid
- 254U Other provisions about paying dividends (replaceable rule--see section 135)
- 254V When does the company incur a debt?
- 254W Dividend rights
- 254WA Application of this Part to MCI mutual entities
PART 2H.6----NOTICE REQUIREMENTS
CHAPTER 2J--Transactions affecting share capital
PART 2J.1----SHARE CAPITAL REDUCTIONS AND SHARE BUY-BACKS
- 256A Purpose Division 1--Reductions in share capital not otherwise authorised by law
- 256B Company may make reduction not otherwise authorised
- 256C Shareholder approval
- 256D Consequences of failing to comply with section 256B
- 256E Signposts to other relevant provisions Division 2--Share buy-backs
- 257A The company's power to buy back its own shares
- 257B Buy - back procedure--general
- 257C Buy - back procedure--shareholder approval if the 10/12 limit exceeded
- 257D Buy - back procedure--special shareholder approval for selective buy - back
- 257E Buy - back procedure--lodgment of offer documents with ASIC
- 257F Notice of intended buy - back
- 257G Buy - back procedure--disclosure of relevant information when offer made
- 257H Acceptance of offer and transfer of shares to the company
- 257J Signposts to other relevant provisions Division 3--Other share capital reductions
- 258A Unlimited companies
- 258B Right to occupy or use real property
- 258C Brokerage or c ommission
- 258D Cancellation of forfeited shares
- 258E Other share cancellations
- 258F Reductions because of lost capital Division 4--Application of this Part to MCI mutual entities
- 258G Application of this Part to MCI mutual entities
PART 2J.2----SELF-ACQUISITION AND CONTROL OF SHARES
- 259A Directly acquiring own shares
- 259B Taking security over own shares or shares in holding company
- 259C Issuing or transferring shares to controlled entity
- 259D Company controlling entity that holds shares in it
- 259E When a company controls an entity
- 259F Consequences of failing to comply with section 259A or 259B
PART 2J.3----FINANCIAL ASSISTANCE
- 260A Financial assistance by a company for acquiring shares in the company or a holding company
- 260B Shareholder approval
- 260C Exempted financial assistance
- 260D Consequences of failing to comply with section 260A
- 260DA Application of this Part to MCI mutual entities
PART 2J.4----INTERACTION WITH GENERAL DIRECTORS' DUTIES
- 260E General duties still apply
CHAPTER 2L--Debentures
PART 2L.1----REQUIREMENT FOR TRUST DEED AND TRUSTEE
- 283AA Requirement for trust deed and trustee
- 283AB Trust deed
- 283AC Who can be a trustee
- 283AD Existing trustee continues to act until new trustee takes office
- 283AE Replacement of trustee
PART 2L.2----DUTIES OF BORROWER
- 283BA Duties of borrower
- 283BB General duties
- 283BC Duty to notify ASIC of information related to trustee
- 283BCA Register relating to trustees for debenture holders
- 283BD Duty to replace trustee
- 283BE Duty to inform trustee about security interests
- 283BF Duty to give trustee and ASIC quarterly reports
- 283BG Exceptions to borrower's duty to report to trustee and ASIC
- 283BH How debentures may be described
- 283BHA Additional requirements for describing debentures as secured notes
- 283BI Offences for failure to comply with statutory duties
PART 2L.3----DUTIES OF GUARANTOR
- 283CA Duties of guarantor
- 283CB General duties
- 283CC Duty to inform trustee about security interests
- 283CD Exceptions to guarantor's duty to inform trustee
- 283CE Offences for failure to comply with statutory duties
PART 2L.4----TRUSTEE
- 283DA Trustee's duties
- 283DB Exemptions and indemnifications of trustee from liability
- 283DC Indemnity
PART 2L.5----MEETINGS OF DEBENTURE HOLDERS
- 283EA Borrower's duty to call meeting
- 283EB Trustee's power to call meeting
- 283EC Court may order meeting
PART 2L.6----CIVIL LIABILITY
PART 2L.7----ASIC POWERS
PART 2L.8----COURT
PART 2L.9----LOCATION OF OTHER DEBENTURE PROVISIONS
- 283I Signpost to other debenture provisions
CHAPTER 2M--Financial reports and audit
PART 2M.1----OVERVIEW
- 285 Overview of obligations under this Chapter
- 285A Overview of obligations of companies limited by guarantee
PART 2M.2----FINANCIAL RECORDS
- 286 Obligation to keep financial records
- 287 Language requirements
- 288 Physical format
- 289 Place where records are kept
- 290 Director access
- 291 Signposts to other relevant provisions
PART 2M.3----FINANCIAL REPORTING
Division 1--Annual financial reports and directors' reports- 292 Who has to prepare annual financial reports and directors' reports
- 293 Small proprietary company--shareholder direction
- 294 Small proprietary company--ASIC direction
- 294A Small company limited by guarantee--member direction
- 294B Small company limited by guarantee--ASIC direction
- 295 Contents of annual financial report
- 295A Declaration in relation to listed entity's financial statements by chief executive officer and chief financial officer
- 296 Compliance with accounting standards and regulations
- 297 True and fair view
- 298 Annual directors' report
- 299 Annual directors' report--general information
- 299A Annual directors' report--additional general requirements for listed entities
- 300 Annual directors' report--specific information
- 300A Annual directors' report--specific information to be provided by listed companies
- 300B Annual directors' report--companies limited by guarantee
- 300C Annual directors' report--registrable superannuation entities
- 301 Audit of annual financial report Division 2--Half-year financial report and directors' report
- 302 Disclosing entity must prepare half - year financial report and directors' report
- 303 Contents of half - year financial report
- 304 Compliance with accounting standards and regulations
- 305 True and fair view
- 306 Half - year directors' report Division 3--Audit and auditor's report
- 307 Audit
- 307A Audit to be conducted in accordance with auditing standards
- 307B Audit working papers to be retained for 7 years
- 307C Auditor's independence declaration
- 308 Auditor's report on annual financial report
- 309 Auditor's report on half - year financial report
- 310 Auditor's power to obtain information
- 311 Reporting to ASIC
- 312 Assisting auditor
- 313 Special provisions on audit of debenture issuers and guarantors Division 4--Annual financial reporting to members
- 314 Annual financial reporting by companies, registered schemes and disclosing entities to members
- 314AA Annual financial reporting by registrable superannuation entities to members
- 314A Annual financial reporting by notified foreign passport funds to Australian members
- 315 Deadline for reporting to members
- 316 Choices for members of companies, registered schemes or disclosing entities
- 316A Annual financial reporting to members of companies limited by guarantee
- 317 Consideration of reports at AGM
- 318 Additional reporting by debenture issuers Division 5--Lodging reports with ASIC
- 319 Lodgment of annual reports with ASIC
- 320 Lodgment of half - year reports with ASIC
- 321 ASIC power to require lodgment
- 322 Relodgment if financial statements or directors' reports amended after lodgment Division 6--Special provisions about consolidated financial statements
- 323 Directors and officers of controlled entity to give information
- 323A Auditor's power to obtain information from controlled entity
- 323B Controlled entity to assist auditor
- 323C Application of Division to entity that has ceased to be controlled Division 7--Financial years and half-years
- 323D Meaning of financial year and half - year --company, registered scheme and disclosing entity
- 323DAAA Financial years for registrable superannuation entities
- 323DAA Meaning of financial year --notified foreign passport fund Division 8--Disclosure by listed companies of information filed overseas
- 323DA Listed companies to disclose information filed overseas Division 9--Disclosure by listed entities of information about jobkeeper payments
- 323DB Requirement to notify market operator about jobkeeper payments
- 323DC ASIC must publish report
PART 2M.4----APPOINTMENT AND REMOVAL OF AUDITORS
Division 1--Entities that may be appointed as an auditor for a company, registered scheme or registrable superannuation entity- 324AA Individual auditors, audit firms and authorised audit companies
- 324AB Effect of appointing firm as auditor--general
- 324AC Effect of appointing firm as auditor--reconstitution of firm
- 324AD Effect of appointing company as auditor
- 324AE Meaning of professional member --audit team
- 324AF Meaning of lead auditor and review auditor Division 2--Registration requirements
- 324BA Registration requirements for appointment of individual as auditor
- 324BB Registration requirements for appointment of firm as auditor
- 324BC Registration requirements for appointment of company as auditor
- 324BD Exception from registration requirement for proprietary company
- 324BE Exception from registration requirement--reviewing financial reports of companies limited by guarantee Division 2A--Eligibility requirements for auditors of registrable superannuation entities
- 324BF Eligibility requirements for auditors of registrable superannuation entities Division 3--Auditor independence Subdivision A--General requirement
- 324CA General requirement for auditor independence--auditors
- 324CB General requirement for auditor independence--member of audit firm
- 324CC General requirement for auditor independence--director of audit company
- 324CD Conflict of interest situation Subdivision B--Specific requirements
- 324CE Auditor independence--specific requirements for individual auditor
- 324CF Auditor independence--specific requirements for audit firm
- 324CG Auditor independence--specific requirements for audit company
- 324CH Relevant relationships
- 324CI Special rule for retiring partners of audit firms and retiring directors of authorised audit companies
- 324CJ Special rule for retiring professional member of audit company
- 324CK Multiple former audit firm partners or audit company directors Subdivision C--Common provisions
- 324CL People who are regarded as officers of a company for the purposes of this Division
- 324CLA Extended meaning of officer of a registrable superannuation entity Division 4--Deliberately disqualifying auditor
- 324CM Deliberately disqualifying auditor Division 5--Auditor rotation for listed companies, listed registered schemes and registrable superannuation entities
- 324DA Limited term for eligibility to play significant role in audit of a listed company, listed registered scheme or registrable superannuation entity
- 324DAA Directors may extend eligibility term
- 324DAB Requirements for directors to approve extension of eligibility term
- 324DAC Notifications about approval to extend eligibility term
- 324DAD Approval ineffective unless it complies with requirements
- 324DB Individual's rotation obligation
- 324DC Audit firm's rotation obligation
- 324DD Audit company's rotation obligation Division 6--Appointment, removal and fees of auditors for companies Subdivision A--Appointment of company auditors
- 325 Appointment of auditor by proprietary company
- 327A Public company auditor (initial appointment of auditor)
- 327B Public company auditor (annual appointments at AGMs to fill vacancies)
- 327C Public company auditor (appointment to fill casual vacancy)
- 327D Appointment to replace auditor removed from office
- 327E ASIC may appoint a company auditor if auditor removed but not replaced
- 327F ASIC's general power to appoint a company auditor
- 327G Restrictions on ASIC's powers to appoint a company auditor
- 327H Effect on appointment of public company auditor of company beginning to be controlled by a corporation
- 327I Remaining auditors may act during vacancy
- 328A Auditor's consent to appointment
- 328B Nomination of auditor
- 328C Public company auditor (appointment of auditor when crowd - sourced funding concession ends)
- 328D Public company auditor (appointment of auditor when $3 million raised using crowd - sourced funding)
- 328E Crowd - sourced funding--period of office Subdivision B--Removal and resignation of company auditors
- 329 Removal and resignation of auditors
- 330 Effect of winding up on office of auditor Subdivision C--Company auditors' fees and expenses
- 331 Fees and expenses of auditors Division 7--Appointment, removal and fees of auditors for registered schemes Subdivision A--Appointment of registered scheme auditors
- 331AAA Registered scheme auditor (initial appointment of auditor)
- 331AAB Registered scheme auditor (appointment to fill vacancy)
- 331AAC ASIC's power to appoint registered scheme auditor
- 331AAD Remaining auditors may act during vacancy Subdivision B--Removal and resignation of registered scheme auditors
- 331AC Removal and resignation of auditors
- 331AD Effect of winding up on office of auditor Subdivision C--Fees and expenses of auditors
- 331AE Fees and expenses of auditors Division 8--Appointment, removal and fees of auditors of registrable superannuation entities Subdivision A--Appointment of registrable superannuation entity auditors
- 331AF Registrable superannuation entity auditor (initial appointment of auditor)
- 331AG Registrable superannuation entity auditor (appointment to fill vacancy)
- 331AH Registrable superannuation entity auditor (duration of appointment)
- 331AJ ASIC's power to appoint auditor of a registrable superannuation entity Subdivision B--Removal and resignation of registrable superannuation entity auditors
- 331AK Removal and resignation of auditors Subdivision C--Fees and expenses of auditors
- 331AL Fees and expenses of auditors
PART 2M.4A----ANNUAL TRANSPARENCY REPORTS FOR AUDITORS
- 332 Meaning of transparency reporting auditor and transparency reporting year
- 332A Transparency reporting auditors must publish annual transparency reports
- 332B Content of annual transparency report
- 332C Extension of period for publication of annual transparency report
- 332D Exemption orders--applications by transparency reporting auditors
- 332E Exemption orders--class orders for transparency reporting auditors
- 332F Exemption orders--criteria for orders
- 332G Offences by members of audit firm
PART 2M.5----ACCOUNTING AND AUDITING STANDARDS
- 334 Accounting standards
- 335 Equity accounting
- 336 Auditing standards
- 337 Interpretation of accounting and auditing standards
- 338 Evidence of text of accounting standard or auditing standard
PART 2M.6----EXEMPTIONS AND MODIFICATIONS
- 340 Exemption orders--companies, registered schemes, registrable superannuation entities and disclosing entities
- 340A Exemption orders--notified foreign passport funds
- 341 Exemption orders--class orders for companies, registered schemes, registrable superannuation entities and disclosing entities
- 341A Exemption orders--class orders for notified foreign passport funds
- 342 Exemption orders--criteria for orders for companies, registered schemes, registrable superannuation entities, notified foreign passport funds and disclosing entities
- 342AA Exemption orders--non - auditor members and former members of audit firms; former employees of audit companies
- 342AB Exemption orders--class orders for non - auditor members etc.
- 342AC Exemption orders--criteria for orders for non - auditor members etc.
- 342A ASIC's power to modify the operation of section 324DA
- 342B Auditor to notify company, registered scheme or registrable superannuation entity of section 342A declaration
- 343 Modification by regulations
- 343A Minister may apply the Chapter to notified foreign passport funds
PART 2M.7----SANCTIONS FOR CONTRAVENTIONS OF CHAPTER
- 344 Contravention of Part 2M.2 or 2M.3, or of certain provisions of Part 2M.4
PART 2M.8----ADDITIONAL PROVISIONS RELATING TO REGISTRABLE SUPERANNUATION ENTITIES
- 345AAA Obligations of registrable superannuation entities
- 345AAB Notices etc. given to RSE licensees
CHAPTER 2N--Updating ASIC information about companies, registered schemes and notified foreign passport funds
PART 2N.1----REVIEW DATE
- 345A Meaning of review date
- 345B Company, responsible entity or operator may change review date
- 345C When choice has effect
PART 2N.2----EXTRACT OF PARTICULARS
- 346A ASIC must give an extract of particulars each year
- 346B ASIC may ask questions
- 346C Requirements in relation to an extract of particulars
PART 2N.3----SOLVENCY RESOLUTION
- 347A Directors must pass a solvency resolution after each review date
- 347B Notice to ASIC
- 347C Payment of review fee is taken to be a representation by the directors that the company is solvent
PART 2N.4----RETURN OF PARTICULARS
- 348A ASIC may give a return of particulars
- 348B ASIC may ask questions
- 348C ASIC may require a solvency resolution and statement
- 348D General requirements in relation to a return of particulars
PART 2N.5----NOTICE BY PROPRIETARY COMPANIES OF CHANGES TO ULTIMATE HOLDING COMPANY
- 349A Proprietary companies must notify ASIC of changes to ultimate holding company
- 349B Another company becomes an ultimate holding company
- 349C A company ceases to be an ultimate holding company
- 349D Ultimate holding company changes its name
CHAPTER 2P--Lodgments with ASIC
- 350 Forms for documents to be lodged with ASIC
- 351 Signing documents lodged with ASIC
- 352 Documents lodged with ASIC electronically
- 353 Electronic lodgment of certain documents
- 354 Telephone notice of certain changes
CHAPTER 5--External administration
PART 5.1----ARRANGEMENTS AND RECONSTRUCTIONS
- 410 Interpretation
- 411 Administration of compromises etc.
- 412 Information as to compromise with creditors
- 413 Provisions for facilitating reconstruction and amalgamation of Part 5.1 bodies
- 414 Acquisition of shares of shareholders dissenting from scheme or contract approved by majority
- 415 Notification of appointment of scheme manager and power of Court to require report
- 415A Outcome of voting at creditors' meeting determined by related entity--Court powers
- 415B Interim order on application under section 415A
- 415C Order under section 415A does not affect act already done pursuant to resolution
- 415D Stay on enforcing rights merely because of a proceeding under this Part etc.
- 415E Lifting the stay
- 415F Order for rights to be enforceable only with leave of the Court
- 415FA Self - executing provisions
- 415G When other laws prevail--certain other Commonwealth Acts
PART 5.2----RECEIVERS, AND OTHER CONTROLLERS, OF PROPERTY OF CORPORATIONS
- 416 Meaning of property and receiver
- 417 Application of Part
- 418 Persons not to act as receivers
- 418A Court may declare whether controller is validly acting
- 419 Liability of controller
- 419A Liability of controller under pre - existing agreement about property used by corporation
- 420 Powers of receiver
- 420A Controller's duty of care in exercising power of sale
- 420B Court may authorise managing controller to dispose of property despite prior security interest
- 420C Receiver's power to carry on corporation's business during winding up
- 421 Managing controller's duties in relation to bank accounts and financial records
- 421A Managing controller to report within 2 months about corporation's affairs
- 422 Reports by receiver or managing controller
- 422A Annual return by controller
- 422B End of control return
- 422C Transfer of books to new controller
- 422D Transfer of books to ASIC etc.
- 423 Supervision of controller
- 424 Controller may apply to Court
- 425 Court's power to fix receiver's remuneration
- 426 Controller has qualified privilege in certain cases
- 427 Notification of matters relating to controller
- 428 Statement that receiver appointed or other controller acting
- 429 Reporting officers to report to controller about corporation's affairs
- 429A Special rules for scheme property
- 430 Controller may require reports
- 431 Controller may inspect books
- 432 Auditing returns by controllers
- 433 Property subject to circulating security interest--payment of certain debts to have priority
- 434 Enforcing controller's duty to make returns
- 434A Court may remove controller for misconduct
- 434B Court may remove redundant controller
- 434C Effect of sections 434A and 434B
- 434D Appointment of 2 or more receivers of property of a corporation
- 434E Appointment of 2 or more receivers and managers of property of a corporation
- 434F Appointment of 2 or more controllers of property of a corporation
- 434G Appointment of 2 or more managing controllers of property of a corporation
- 434H Regulations may provide for reporting to ASIC
- 434J Stay on enforcing rights merely because of the appointment of a managing controller of a corporation's property etc.
- 434K Lifting the stay
- 434L Order for rights to be enforceable only with leave of the Court
- 434LA Self - executing provisions
- 434M When other laws prevail--certain other Commonwealth Acts
PART 5.3A----ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT
Division 1--Preliminary- 435A Object of Part
- 435B Meaning of property and receiver
- 435C When administration begins and ends Division 2--Appointment of administrator and first meeting of creditors
- 436A Company may appoint administrator if board thinks it is or will become insolvent
- 436B Liquidator may appoint administrator
- 436C Secured party may appoint administrator
- 436D Company already under administration
- 436DA Declarations by administrator--indemnities and relevant relationships
- 436E Purpose and timing of first meeting of creditors Division 3--Administrator assumes control of company's affairs
- 437A Role of administrator
- 437B Administrator acts as company's agent
- 437D Only administrator can deal with company's property
- 437E Order for compensation where officer involved in void transaction
- 437F Effect of administration on company's members Division 4--Administrator investigates company's affairs
- 438A Administrator to investigate affairs and consider possible courses of action
- 438B Directors to help administrator
- 438C Administrator's rights to company's books
- 438D Reports by administrator Division 5--Meeting of creditors decides company's future
- 439A Administrator to convene meeting and inform creditors
- 439C What creditors may decide Division 6--Protection of company's property during administration
- 440A Winding up company
- 440B Restrictions on exercise of third party property rights
- 440D Stay of proceedings
- 440E Administrator not liable in damages for refusing consent
- 440F Suspension of enforcement process
- 440G Duties of court officer in relation to property of company
- 440H Lis pendens taken to exist
- 440J Administration not to trigger liability of director or relative under guarantee of company's liability
- 440JA Property subject to a banker's lien--exemption from this Division Division 7--Rights of secured party, owner or lessor Subdivision A--General
- 441 Application of Division Subdivision B--Property subject to security interests
- 441AA Application of Subdivision--PPSA security interests
- 441A Secured party acts before or during decision period
- 441B Where enforcement of security interest begins before administration
- 441C Security interest in perishable property
- 441D Court may limit powers of secured party etc. in relation to secured property
- 441E Giving a notice under a security agreement etc.
- 441EA Sale of property subject to a possessory security interest Subdivision C--Property not subject to security interests
- 441EB Scope of Subdivision
- 441F Where recovery of property begins before administration
- 441G Recovering perishable property
- 441H Court may limit powers of receiver etc. in relation to property used by company
- 441J Giving a notice under an agreement about property Division 8--Powers of administrator
- 442A Additional powers of administrator
- 442B Dealing with property subject to circulating security interests
- 442C When administrator may dispose of encumbered property
- 442CA Property subject to a possessory security interest--inspection or examination by potential purchasers etc.
- 442CB Property subject to a security interest or to a retention of title clause--administrator's duty of care in exercising power of sale
- 442CC Proceeds of sale of property
- 442D Administrator's powers subject to powers of secured party, receiver or controller
- 442E Administrator has qualified privilege
- 442F Protection of persons dealing with administrator Division 9--Administrator's liability and indemnity for debts of administration Subdivision A--Liability
- 443A General debts
- 443B Payments for property used or occupied by, or in the possession of, the company
- 443BA Certain taxation liabilities
- 443C Administrator not otherwise liable for company's debts Subdivision B--Indemnity
- 443D Right of indemnity
- 443E Right of indemnity has priority over other debts
- 443F Lien to secure indemnity Division 10--Execution and effect of deed of company arrangement
- 444A Effect of creditors' resolution
- 444B Execution of deed
- 444C Creditor etc. not to act inconsistently with deed before its execution
- 444D Effect of deed on creditors
- 444DA Giving priority to eligible employee creditors
- 444DB Superannuation contribution debts not admissible to proof
- 444E Protection of company's property from persons bound by deed
- 444F Court may limit rights of secured creditor or owner or lessor
- 444G Effect of deed on company, officers and members
- 444GA Transfer of shares
- 444H Extent of release of company's debts
- 444J Guarantees and indemnities Division 11--Variation, termination and avoidance of deed
- 445A Variation of deed by creditors
- 445B Court may cancel variation
- 445C When deed terminates
- 445CA When creditors may terminate deed
- 445D When Court may terminate deed
- 445E Creditors may terminate deed and resolve that company be wound up
- 445FA Notice of termination of deed
- 445G When Court may void or validate deed
- 445H Effect of termination or avoidance Division 11AA--Notification of contravention of deed
- 445HA Notification of contravention of deed of company arrangement Division 12--Transition to creditors' voluntary winding up
- 446A Administrator becomes liquidator in certain cases
- 446AA Administrator becomes liquidator--additional cases
- 446B Regulations may provide for transition in other cases
- 446C Liquidator may require submission of a report about the company's affairs Division 13--Powers of Court
- 447A General power to make orders
- 447B Orders to protect creditors during administration
- 447C Court may declare whether administrator validly appointed
- 447F Effect of Division Division 14--Qualifications of administrators
- 448A Appointee must consent
- 448B Administrator must be registered liquidator
- 448C Disqualification of person connected with company Division 15--Removal and replacement of administrator
- 449A Appointment of administrator cannot be revoked
- 449C Vacancy in office of administrator of company
- 449CA Declarations by administrator--indemnities and relevant relationships Division 16--Notices about steps taken under Part
- 450A Appointment of administrator
- 450B Execution of deed of company arrangement
- 450C Failure to execute deed of company arrangement
- 450D Termination of deed of company arrangement
- 450E Notice in public documents etc. of company
- 450F Effect of contravention of this Division Division 17--Miscellaneous
- 451A Appointment of 2 or more administrators of company
- 451B Appointment of 2 or more administrators of deed of company arrangement
- 451C Effect of things done during administration of company
- 451D Time for doing act does not run while act prevented by this Part
- 451E Stay on enforcing rights merely because the company is under administration etc.
- 451F Lifting the stay
- 451G Order for rights to be enforceable only with leave of the Court
- 451GA Self - executing provisions
- 451H When other laws prevail--certain other Commonwealth Acts
PART 5.3B----RESTRUCTURING OF A COMPANY
Division 1--Preliminary- 452A Object of this Part
- 452B Meaning of property Division 2--Restructuring Subdivision A--When restructuring begins and ends
- 453A Meaning of restructuring Subdivision B--Appointment of restructuring practitioner
- 453B Appointing a restructuring practitioner
- 453C Eligibility criteria for restructuring
- 453D Declaration by restructuring practitioner--relevant relationships Subdivision C--Role of the restructuring practitioner during restructuring
- 453E Functions, duties and powers of the restructuring practitioner
- 453F Directors to help restructuring practitioner
- 453G Restructuring practitioner's right to inspect books held by other persons
- 453H Restructuring practitioner acts as company's agent
- 453J Restructuring practitioner may terminate restructuring Subdivision D--Conduct of company during restructuring
- 453K Control of company under restructuring
- 453L Conducting the business of the company during restructuring
- 453M Order for compensation where director involved in void transaction
- 453N Effect of things done during restructuring of company
- 453P Effect of restructuring on company's members Subdivision E--Effect on company etc. during restructuring
- 453Q Winding up company
- 453R Restrictions on exercise of third party property rights
- 453S Stay of proceedings
- 453T Suspension of enforcement process
- 453U Duties of court officer in relation to property of company
- 453V Lis pendens taken to exist
- 453W Restructuring not to trigger liability of director or relative under guarantee of company's liability
- 453X Property subject to a banker's lien--exemption from this Subdivision Subdivision F--Rights of secured party, owner or lessor during restructuring
- 454A Application of Subdivision
- 454B Application of sections 454C to 454H--PPSA security interests
- 454C Secured party acts before or during decision period
- 454D Where enforcement of security interest begins before restructuring
- 454E Security interest in perishable property
- 454F Court may limit powers of secured party etc. in relation to secured property
- 454G Giving a notice under a security agreement etc.
- 454H Sale of property subject to a possessory security interest
- 454J Scope of sections 454K to 454M
- 454K Where recovery of property begins before restructuring
- 454L Recovering perishable property
- 454M Court may limit powers of receiver etc. in relation to property used by company Subdivision G--Enforcement rights triggered by restructuring
- 454N Stay on enforcing rights merely because the company is under restructuring etc.
- 454P Lifting the stay on enforcing rights
- 454Q Order for rights to be enforceable only with leave of the Court
- 454R Self - executing provisions
- 454S When other laws prevail--certain other Commonwealth Acts Division 3--Restructuring plan
- 455A Proposing a restructuring plan
- 455B Restructuring plan Division 4--The restructuring practitioner Subdivision A--Qualifications of restructuring practitioners
- 456A Appointee must consent
- 456B Restructuring practitioner must be registered liquidator
- 456C Disqualification of person connected with company Subdivision B--Removal and replacement of restructuring practitioner
- 456D Appointment of restructuring practitioner cannot be revoked
- 456E Vacancy in office of restructuring practitioner for company
- 456F Declarations by replacement restructuring practitioner--relevant relationships Subdivision C--Rights, obligations and liabilities in relation to the restructuring practitioner
- 456G Rights, obligations and liabilities of a company and its officers in relation to the restructuring practitioner
- 456H No liability for consent etc.
- 456J Right of indemnity
- 456K Right of indemnity has priority over other debts
- 456L Lien to secure indemnity
- 456LA Restructuring practitioner has qualified privilege
- 456LB Protection of persons dealing with restructuring practitioner Subdivision D--Appointment of 2 or more restructuring practitioners
- 456M Appointment of 2 or more restructuring practitioners of company
- 456N Appointment of 2 or more restructuring practitioners of restructuring plan Division 5--Information, reports, documents etc.
- 457A Regulations may deal with information etc.
- 457B Notice in public documents of company
- 457C Effect of contravention of this Division Division 6--Powers of Court
- 458A General power to make orders
- 458B Other powers of the Court Division 7--Other matters
- 458C Time for doing act does not run while act prevented by this Part
- 458D Meaning of restructuring relief period
- 458E Meaning of eligible for temporary restructuring relief
- 458F Directors declare company not eligible for temporary restructuring relief
- 458G Court order that company not eligible for temporary restructuring relief
- 458H Obligation on registered liquidator to report
PART 5.4----WINDING UP IN INSOLVENCY
Division 1--When company to be wound up in insolvency- 459A Order that insolvent company be wound up in insolvency
- 459B Order made on application under section 234, 462 or 464
- 459C Presumptions to be made in certain proceedings
- 459D Contingent or prospective liability relevant to whether company solvent Division 2--Statutory demand
- 459E Creditor may serve statutory demand on company
- 459F When company taken to fail to comply with statutory demand Division 3--Application to set aside statutory demand
- 459G Company may apply
- 459H Determination of application where there is a dispute or offsetting claim
- 459J Setting aside demand on other grounds
- 459K Effect of order setting aside demand
- 459L Dismissal of application
- 459M Order subject to conditions
- 459N Costs where company successful Division 4--Application for order to wind up company in insolvency
- 459P Who may apply for order under section 459A
- 459Q Application relying on failure to comply with statutory demand
- 459R Period within which application must be determined
- 459S Company may not oppose application on certain grounds
- 459T Application to wind up joint debtors in insolvency
PART 5.4A----WINDING UP BY THE COURT ON OTHER GROUNDS
- 461 General grounds on which company may be wound up by Court
- 462 Standing to apply for winding up
- 464 Application for winding up in connection with investigation under ASIC Act
PART 5.4B----WINDING UP IN INSOLVENCY OR BY THE COURT
Division 1AA--Preliminary- 465 Meaning of property Division 1--General
- 465A Notice of application
- 465B Substitution of applicants
- 465C Applicant to be given notice of grounds for opposing application
- 466 Payment of preliminary costs etc.
- 467 Court's powers on hearing application
- 467A Effect of defect or irregularity on application under Part 5.4 or 5.4A
- 467B Court may order winding up of company that is being wound up voluntarily
- 468 Avoidance of dispositions of property, attachments etc.
- 468A Effect of winding up on company's members
- 469 Application to be lis pendens
- 470 Certain notices to be lodged Division 1A--Effect of winding up order
- 471 Effect on creditors and contributories
- 471B Stay of proceedings and suspension of enforcement process
- 471C Secured creditor's rights not affected Division 2--Court-appointed liquidators
- 472 Court to appoint registered liquidator
- 473 Resignation of liquidators
- 473A Vacancies in office of court - appointed liquidator
- 474 Custody and vesting of company's property
- 475 Report as to company's affairs to be submitted to liquidator
- 477 Powers of liquidator
- 478 Application of property; list of contributories
- 480 Release of liquidator and deregistration of company
- 481 Orders for release or deregistration Division 3--General powers of Court Subdivision A--General powers
- 482 Power to stay or terminate winding up
- 483 Delivery of property to liquidator
- 484 Appointment of special manager
- 485 Claims of creditors and distribution of property
- 486 Inspection of books by creditors and contributories
- 486A Court may make order to prevent officer or related entity from avoiding liability to company
- 486B Warrant to arrest person who is absconding, or who has dealt with property or books, in order to avoid obligations in connection with winding up
- 487 Power to arrest absconding contributory
- 488 Delegation to liquidator of certain powers of Court
- 489 Powers of Court cumulative Subdivision B--Procedures relating to section 486B warrants
- 489A Arrest of person subject to warrant
- 489B Procedure after arrest
- 489C Procedure on remand on bail
- 489D Court's power to make orders under other provisions
- 489E Jurisdiction under this Subdivision
PART 5.4C----WINDING UP BY ASIC
- 489EA ASIC may order the winding up of a company
- 489EB Deemed resolution that company be wound up voluntarily
- 489EC Appointment of liquidator
PART 5.5----VOLUNTARY WINDING UP
Division 1A--Preliminary- 489F Meaning of property Division 1--Resolution for winding up
- 490 When company cannot wind up voluntarily
- 491 Circumstances in which company may be wound up voluntarily
- 493 Effect of voluntary winding up
- 493A Effect of voluntary winding up on company's members
- 494 Declaration of solvency Division 2--Members' voluntary winding up
- 495 Appointment of liquidator etc.
- 496 Duty of liquidator where company turns out to be insolvent Division 3--Creditors' voluntary winding up Subdivision A--Liquidation process
- 497 Information about the company's affairs
- 498 Declaration that company eligible for the simplified liquidation process
- 499 Liquidators
- 500 Execution and civil proceedings Subdivision B--Simplified liquidation process for creditors' voluntary winding up of an insolvent company
- 500AAA Meaning of triggering event
- 500A Liquidator may adopt the simplified liquidation process
- 500AA Eligibility criteria for the simplified liquidation process
- 500AB Creditors may request liquidator not to follow the simplified liquidation process
- 500AC Liquidator must cease to follow the simplified liquidation process
- 500AD Working out whether the 25% in value of creditors test met
- 500AE Simplified liquidation process Division 4--Voluntary winding up generally
- 501 Distribution of property of company
- 506 Powers and duties of liquidator
- 506A Declarations by liquidator--relevant relationships and indemnities
- 507 Power of liquidator to accept shares etc. as consideration for sale of property of company
- 509 Deregistration
- 510 Arrangement: when binding on creditors
PART 5.6----WINDING UP GENERALLY
Division 1--Preliminary- 513 Application of Part
- 513AA Meaning of property Division 1A--When winding up taken to begin
- 513A Winding up ordered by the Court
- 513B Voluntary winding up
- 513C Section 513C day in relation to an administration under Part 5.3A
- 513CA Meaning of section 513CA day
- 513D Validity of proceedings in earlier winding up Division 2--Contributories
- 514 Where Division applies
- 515 General liability of contributory
- 516 Company limited by shares
- 517 Company limited by guarantee
- 518 Company limited both by shares and by guarantee
- 519 Exceptions for former unlimited company
- 520 Past member: later debts
- 521 Person ceasing to be a member a year or more before winding up
- 522 Present members to contribute first
- 523 Past member of former unlimited company
- 524 Past member of former limited company
- 526 Liability on certain contracts
- 527 Nature of contributory's liability
- 528 Death of contributory
- 529 Bankruptcy of contributory Division 3--Liquidators
- 530 Appointment of 2 or more liquidators of a company
- 530AA Appointment of 2 or more provisional liquidators of a company
- 530A Officers to help liquidator
- 530B Liquidator's rights to company's books
- 530C Warrant to search for, and seize, company's property or books
- 532 Disqualification of liquidator
- 533 Reports by liquidator
- 534 Prosecution by liquidator of delinquent officers and members
- 535 When liquidator has qualified privilege
- 537 Notice of appointment and address of liquidator Division 4--General
- 541 Notification that company is in liquidation
- 543 Investment of surplus funds on general account
- 544 Unclaimed money to be paid to ASIC
- 545 Expenses of winding up where property insufficient Division 6--Proof and ranking of claims Subdivision A--Admission to proof of debts and claims
- 553 Debts or claims that are provable in winding up
- 553A Member cannot prove debt unless contributions paid
- 553AA Selling shareholder cannot prove debt unless documents given
- 553AB Superannuation contribution debts not admissible to proof
- 553B Insolvent companies--penalties and fines not generally provable
- 553C Insolvent companies--mutual credit and set - off
- 553D Debts or claims may be proved formally or informally
- 553E Application of Bankruptcy Act to winding up of insolvent company Subdivision B--Computation of debts and claims
- 554 General rule--compute amount as at relevant date
- 554A Determination of value of debts and claims of uncertain value
- 554B Discounting of debts payable after relevant date Subdivision C--Special provisions relating to secured creditors of insolvent companies
- 554D Application of Subdivision
- 554E Proof of debt by secured creditor
- 554F Redemption of security interest by liquidator
- 554G Amendment of valuation
- 554H Repayment of excess
- 554J Subsequent realisation of security interest Subdivision D--Priorities
- 555 Debts and claims proved to rank equally except as otherwise provided
- 556 Priority payments
- 558 Debts due to employees
- 559 Debts of a class to rank equally
- 560 Advances for company to make priority payments in relation to employees
- 561 Priority of employees' claims over circulating security interests
- 562 Application of proceeds of contracts of insurance
- 562A Application of proceeds of contracts of reinsurance
- 563 Provisions relating to injury compensation
- 563AA Seller under a buy - back agreement
- 563A Postponing subordinate claims
- 563AAA Redemption of debentures Subdivision E--Miscellaneous
- 563B Interest on debts and claims from relevant date to date of payment
- 563C Debt subordination
- 564 Power of Court to make orders in favour of certain creditors Division 7--Effect on certain transactions
- 565 Undue preference
- 566 Effect of floating charge
- 567 Liquidator's right to recover in respect of certain transactions Division 7A--Disclaimer of onerous property
- 568 Disclaimer by liquidator; application to Court by party to contract
- 568A Liquidator must give notice of disclaimer
- 568B Application to set aside disclaimer before it takes effect
- 568C When disclaimer takes effect
- 568D Effect of disclaimer
- 568E Application to set aside disclaimer after it has taken effect
- 568F Court may dispose of disclaimed property Division 7B--Effect on enforcement process against company's property
- 569 Executions, attachments etc. before winding up
- 570 Duties of sheriff after receiving notice of application Division 8--Pooling Subdivision A--Pooling determinations
- 571 Pooling determination
- 572 Variation of pooling determination
- 573 Lodgment of copy of pooling determination etc.
- 577 Eligible unsecured creditors may decide to approve the determination or variation
- 578 When pooling determination comes into force etc.
- 579 Duties of liquidator
- 579A Court may vary or terminate pooling determination
- 579B Court may cancel or confirm variation
- 579C When Court may void or validate pooling determination
- 579D Effect of termination or avoidance Subdivision B--Pooling orders
- 579E Pooling orders
- 579F Variation of pooling orders
- 579G Court may make ancillary orders etc.
- 579H Variation of ancillary orders etc.
- 579J Notice of application for pooling order etc.
- 579K Notice of pooling order etc.
- 579L Consolidated meetings of creditors Subdivision C--Other provisions
- 579M When debts or claims are provable in winding up
- 579N Group of companies
- 579P Secured debt may become unsecured
- 579Q Eligible unsecured creditor Division 9--Co-operation between Australian and foreign courts in external administration matters
- 581 Courts to act in aid of each other
PART 5.7----WINDING UP BODIES OTHER THAN COMPANIES
- 582 Application of Part
- 583 Winding up Part 5.7 bodies
- 585 Insolvency of Part 5.7 body
- 586 Contributories in winding up of Part 5.7 body
- 587 Power of Court to stay or restrain proceedings
- 588 Outstanding property of defunct registrable body
PART 5.7B----RECOVERING PROPERTY OR COMPENSATION FOR THE BENEFIT OF CREDITORS OF INSOLVENT COMPANY
Division 1--Preliminary- 588C Meaning of property
- 588D Secured debt may become unsecured
- 588E Presumptions to be made in recovery proceedings
- 588F Certain taxation liabilities taken to be debts Division 2--Voidable transactions Subdivision A--Kinds of transactions that may be voidable
- 588FA Meaning of unfair preference
- 588FB Meaning of uncommercial transaction
- 588FC Meaning of insolvent transaction
- 588FD Meaning of unfair loan
- 588FDA Meaning of unreasonable director - related transaction
- 588FDB Meaning of creditor - defeating disposition Subdivision B--Voidable transactions
- 588FE Voidable transactions Subdivision C--Court orders about voidable transactions
- 588FF Courts may make orders about voidable transactions
- 588FG Transaction not voidable as against certain persons Subdivision D--ASIC orders about certain voidable transactions
- 588FGAA ASIC may order undoing of effect of creditor - defeating dispositions by company being wound up
- 588FGAB Content and copies of orders
- 588FGAC Compliance with orders generally
- 588FGAD Compliance with orders for payment
- 588FGAE Court may set aside order by ASIC Subdivision E--Various rules about voidable transactions
- 588FGA Directors to indemnify Commissioner of Taxation if certain payments set aside
- 588FGB Defences in proceedings under section 588FGA
- 588FH Liquidator may recover from related entity benefit resulting from insolvent transaction
- 588FI Creditor who gives up benefit of unfair preference may prove for preferred debt
- 588FJ Circulating security interest created within 6 months before relation - back day Division 2A--Vesting of PPSA security interests if not continuously perfected
- 588FK Interpretation and application
- 588FL Vesting of PPSA security interests if collateral not registered within time
- 588FM Extension of time for registration
- 588FN PPSA security interests unaffected by section 588FL
- 588FO Certain lessors, bailors and consignors entitled to damages Division 2B--Security interests in favour of company officers etc.
- 588FP Security interests in favour of an officer of a company etc. void Division 3--Duties to prevent insolvent trading and creditor-defeating dispositions Subdivision A--Director's duty to prevent insolvent trading
- 588G Director's duty to prevent insolvent trading by company Subdivision B--Duties to prevent creditor-defeating dispositions
- 588GAA Object of this Subdivision
- 588GAB Officer's duty to prevent creditor - defeating disposition
- 588GAC Procuring creditor - defeating disposition Subdivision C--Safe harbour from breach of duties
- 588GA Safe harbour--taking course of action reasonably likely to lead to a better outcome for the company
- 588GAAA Safe harbour--temporary relief in response to the coronavirus
- 588GAAB Safe harbour--companies under restructuring
- 588GAAC Safe harbour--temporary relief for companies looking for a restructuring practitioner
- 588GB Information or books not admissible to support the safe harbour if failure to permit inspection etc.
- 588H Defences about reasonable grounds, illness or reasonable steps
- 588HA Review relating to safe harbour Division 4--Director liable to compensate company Subdivision A--Proceedings against director
- 588J On application for civil penalty order, Court may order compensation
- 588K Criminal court may order compensation
- 588L Enforcement of order under section 588J or 588K
- 588M Recovery of compensation for loss resulting from insolvent trading
- 588N Avoiding double recovery
- 588P Effect of sections 588J, 588K and 588M
- 588Q Certificates evidencing contravention Subdivision B--Proceedings by creditor
- 588R Creditor may sue for compensation with liquidator's consent
- 588S Creditor may give liquidator notice of intention to sue for compensation
- 588T When creditor may sue for compensation without liquidator's consent
- 588U Events preventing creditor from suing Division 5--Liability of holding company for insolvent trading by subsidiary
- 588V When holding company liable
- 588W Recovery of compensation for loss resulting from insolvent trading
- 588WA Safe harbour--taking reasonable steps to ensure company's directors have the benefit of the directors' safe harbour
- 588X Defences about reasonable grounds, illness or reasonable steps Division 6--Application of compensation under Division 4 or 5
- 588Y Application of amount paid as compensation Division 7--Person managing a corporation while disqualified may become liable for corporation's debts
- 588Z Court may make order imposing liability Division 8--Employee entitlements contribution orders
- 588ZA Employee entitlements contribution orders
- 588ZB Who may apply for an employee entitlements contribution order
PART 5.8----OFFENCES
- 589 Interpretation and application
- 590 Offences by officers of certain companies
- 592 Incurring of certain debts; fraudulent conduct
- 593 Powers of Court
- 594 Certain rights not affected
- 595 Inducement to be appointed liquidator etc. of company
- 596 Frauds by officers
PART 5.8A----EMPLOYEE ENTITLEMENTS
- 596AA Objects and coverage of this Part
- 596AB Relevant agreements or transactions that avoid employee entitlements--offences
- 596AC Relevant agreements or transactions that avoid employee entitlements--civil contraventions
- 596ACA Person who contravenes section 596AC liable to compensate for loss
- 596AD Avoiding double recovery
- 596AE Effect of section 596ACA
- 596AF Proceedings for compensation
- 596AG Events preventing proceedings
- 596AH Joining parties to proceedings
PART 5.9----MISCELLANEOUS
Division 1--Examining a person about a corporation- 596A Mandatory examination
- 596B Discretionary examination
- 596C Affidavit in support of application under section 596B
- 596D Content of summons
- 596E Notice of examination
- 596F Court may give directions about examination
- 597 Conduct of examination
- 597A When Court is to require affidavit about corporation's examinable affairs
- 597B Costs of unnecessary examination or affidavit Division 2--Orders against a person in relation to a corporation
- 598 Order against person concerned with corporation Division 3--Provisions applying to various kinds of external administration
- 599 Appeals from decisions of receivers etc.
- 600AA Duty of receiver, administrator or liquidator--parental leave pay
- 600F Limitation on right of suppliers of essential services to insist on payment as condition of supply
- 600H Rights if claim against the company postponed
- 600J Acts of external administrator valid etc. Division 4--Insolvency Practice Schedule (Corporations)
- 600K Insolvency Practice Schedule (Corporations)
CHAPTER 5A--Deregistration, and transfer of registration, of companies
PART 5A.1----DEREGISTRATION
- 601 Meaning of property
- 601AA Deregistration--voluntary
- 601AB Deregistration--ASIC initiated
- 601AC Deregistration--following amalgamation or winding up
- 601AD Effect of deregistration
- 601AE What the Commonwealth or ASIC does with the property
- 601AF The Commonwealth's and ASIC's power to fulfil outstanding obligations of deregistered company
- 601AG Claims against insurers of deregistered company
- 601AH Reinstatement
PART 5A.2----TRANSFER OF REGISTRATION
- 601AI Transferring registration
- 601AJ Applying to transfer registration
- 601AK ASIC makes transfer of registration declaration
- 601AL ASIC to deregister company
CHAPTER 5B--Bodies corporate registered as companies, and registrable bodies
PART 5B.1----REGISTERING A BODY CORPORATE AS A COMPANY
Division 1--Registration- 601BA Bodies corporate may be registered as certain types of companies
- 601BB Bodies registered as proprietary companies
- 601BC Applying for registration under this Part
- 601BD ASIC gives body ACN, registers as company and issues certificate
- 601BE Registered office
- 601BF Name
- 601BG Constitution
- 601BH Modifications of constitution
- 601BJ ASIC may direct company to apply for Court approval for modifications of constitution
- 601BK Establishing registers and minute books
- 601BL Registration of registered bodies Division 2--Operation of this Act
- 601BM Effect of registration under this Part
- 601BN Liability of members on winding up
- 601BP Bearer shares
- 601BQ References in pre - registration contracts and other documents to par value in existing contracts and documents
- 601BR First AGM
- 601BS Modification by regulations
PART 5B.2----REGISTRABLE BODIES
Division 1A--Preliminary- 601C Meaning of property Division 1--Registrable Australian bodies
- 601CA When a registrable Australian body may carry on business in this jurisdiction and outside its place of origin
- 601CB Application for registration
- 601CC Cessation of business etc.
- 601CCA Publishing notices relating to cessation of business etc. Division 2--Foreign companies
- 601CD When a foreign company may carry on business in this jurisdiction
- 601CDA Limited disclosure if place of origin is a prescribed country
- 601CE Application for registration
- 601CF Appointment of local agent
- 601CG Local agent: how appointed
- 601CH Local agent: how removed
- 601CJ Liability of local agent
- 601CK Balance - sheets and other documents
- 601CL Cessation of business etc.
- 601CLA Publishing notices relating to cessation of business etc.
- 601CM Register of members of foreign company
- 601CN Register kept under section 601CM
- 601CP Notifying ASIC about register kept under section 601CM
- 601CQ Effect of right to acquire shares compulsorily
- 601CR Index of members and inspection of registers
- 601CS Certificate as to shareholding Division 3--Bodies registered under this Part
- 601CTA Limited disclosure if place of origin is a prescribed country
- 601CT Registered office
- 601CU Certificate of registration
- 601CV Notice of certain changes
- 601CW Body's name etc. must be displayed at office and place of business
- 601CX Service of documents on registered body
- 601CY Power to hold land Division 4--Register of debenture holders for non-companies
- 601CZA Certain documents are debentures
- 601CZB Register of debenture holders to be maintained by non - companies
- 601CZC Location of register
- 601CZD Application of sections 173 to 177
PART 5B.3----NAMES OF REGISTRABLE AUSTRALIAN BODIES AND FOREIGN COMPANIES
- 601DA Reserving a name
- 601DB Acceptable abbreviations
- 601DC When a name is available
- 601DE Using a name and ARBN
- 601DF Exception to requirement to have ARBN on receipts
- 601DG Regulations may exempt from requirement to set out information on documents
- 601DH Notice of name change must be given to ASIC
- 601DJ ASIC's power to direct a registered name be changed
CHAPTER 5C--Managed investment schemes
PART 5C.1----REGISTRATION OF MANAGED INVESTMENT SCHEMES
- 601EA Applying for registration
- 601EB Registration of managed investment scheme
- 601EC All documents etc. lodged with ASIC to bear ARSN or ABN
- 601ED When a managed investment scheme must be registered
- 601EE Unregistered schemes may be wound up
PART 5C.2----THE RESPONSIBLE ENTITY
Division 1--Responsibilities and powers- 601FA Responsible entity to be public company and hold Australian financial services licence
- 601FB Responsible entity to operate scheme
- 601FC Duties of responsible entity
- 601FD Duties of officers of responsible entity
- 601FE Duties of employees of responsible entity
- 601FF Surveillance checks by ASIC
- 601FG Acquisition of interest in scheme by responsible entity
- 601FH Liquidator etc. of responsible entity entitled to exercise indemnity rights Division 2--Changing the responsible entity
- 601FJ Changes only take effect when ASIC alters record of registration
- 601FK Requirements of section 601FA must be met
- 601FL Retirement of responsible entity
- 601FM Removal of responsible entity by members
- 601FN ASIC or scheme member may apply to Court for appointment of temporary responsible entity
- 601FP Appointment of temporary responsible entity by Court
- 601FQ Temporary responsible entity to take steps for appointment of new responsible entity Division 3--Consequences of change of responsible entity
- 601FR Former responsible entity to hand over books and provide reasonable assistance
- 601FS Rights, obligations and liabilities of former responsible entity
- 601FT Effect of change of responsible entity on documents etc. to which former responsible entity is party
PART 5C.3----THE CONSTITUTION
- 601GA Contents of the constitution
- 601GB Constitution must be legally enforceable
- 601GC Changing the constitution
PART 5C.4----THE COMPLIANCE PLAN
- 601HA Contents of the compliance plan
- 601HB Compliance plan may incorporate provisions from another scheme's plan
- 601HC Directors must sign lodged copy of compliance plan
- 601HD ASIC may require further information about compliance plan
- 601HE Changing the compliance plan
- 601HF ASIC may require consolidation of compliance plan to be lodged
- 601HG Audit of compliance plan
- 601HH Removal and resignation of auditors
- 601HI Action on change of auditor of compliance plan
PART 5C.5----THE COMPLIANCE COMMITTEE
- 601JA When is a compliance committee required?
- 601JB Membership of compliance committee
- 601JC Functions of compliance committee
- 601JD Duties of members
- 601JE Compliance committee members have qualified privilege in certain cases
- 601JF When can responsible entity indemnify compliance committee members?
- 601JG When can responsible entity pay insurance premiums for compliance committee members?
- 601JH Proceedings of compliance committee
- 601JJ Disclosure of interests
PART 5C.6----MEMBERS' RIGHTS TO WITHDRAW FROM A SCHEME
- 601KA Members' rights to withdraw
- 601KB Non - liquid schemes--offers
- 601KC Non - liquid schemes--only one withdrawal offer to be open at any time
- 601KD Non - liquid schemes--how payments are to be made
- 601KE Non - liquid schemes--responsible entity may cancel withdrawal offer
PART 5C.7----RELATED PARTY TRANSACTIONS
- 601LA Chapter 2E applies with modifications
- 601LB Replacement section 207
- 601LC Replacement section 208
- 601LD Omission of sections 213, 214 and 224
- 601LE Modification of section 225
PART 5C.8----EFFECT OF CONTRAVENTIONS (CIVIL LIABILITY AND VOIDABLE CONTRACTS)
- 601MA Civil liability of responsible entity to members
- 601MB Voidable contracts where subscription offers and invitations contravene this Act
PART 5C.9----WINDING UP
- 601NA Winding up required by scheme's constitution
- 601NB Winding up at direction of members
- 601NC Winding up if scheme's purpose accomplished or cannot be accomplished
- 601ND Winding up ordered by Court
- 601NE The winding up of the scheme
- 601NF Other orders about winding up
- 601NG Unclaimed money to be paid to ASIC
PART 5C.10----DEREGISTRATION
Division 1--Registered schemes that are not Australian passport funds- 601PAA Application of this Division
- 601PA Deregistration--voluntary
- 601PB Deregistration by ASIC Division 2--Registered schemes that are Australian passport funds
- 601PBA Application of this Division
- 601PBB Deregistration--voluntary
- 601PBC Deregistration--initiated by ASIC
- 601PBD Notices relating to deregistration process
- 601PBE Consequences of deregistration on status as an Australian passport fund
- 601PC Reinstatement
PART 5C.11----EXEMPTIONS AND MODIFICATIONS
CHAPTER 5D--Licensed trustee companies
PART 5D.1----PRELIMINARY
- 601RAA Meaning of fees and law-- Chapter 5D
- 601RAB Meaning of trustee company and client
- 601RAC Meaning of traditional trustee company services and estate management functions
- 601RAD Meaning of person with a proper interest
- 601RAE Interaction between trustee company provisions and State and Territory laws
PART 5D.2----POWERS ETC. OF LICENSED TRUSTEE COMPANIES
Division 1--General provisions- 601SAA Jurisdiction of courts not affected etc.
- 601SAB Regulations may prescribe other powers etc.
- 601SAC Powers etc. conferred by or under this Chapter are in addition to other powers etc. Division 2--Accounts
- 601SBA Licensed trustee company not required to file accounts
- 601SBB Licensed trustee company may be required to provide account in relation to estate
- 601SBC Court may order audit Division 3--Common funds
- 601SCA Common funds of licensed trustee companies
- 601SCAA Common funds that are also registered schemes
- 601SCB Obligations relating to common funds
- 601SCC Regulations relating to establishment or operation of common funds
- 601SCD Arm's length transactions
PART 5D.3----REGULATION OF FEES CHARGED BY LICENSED TRUSTEE COMPANIES
Division 1--Disclosure of fees- 601TAA Schedule of fees to be published and available
- 601TAB Disclosure to clients of changed fees Division 2--General provisions about charging fees
- 601TBA Charging of fees for the provision of traditional trustee company services
- 601TBB Part does not prevent charging of fees as agreed etc.
- 601TBC Part does not prevent charging fee for provision of account
- 601TBD Part does not prevent reimbursement
- 601TBE Estate management functions: payment of fees out of estate Division 3--Fees otherwise than for being trustee or manager of a charitable trust
- 601TCA Fees otherwise than for being the trustee or manager of a charitable trust
- 601TCB Additional amount for preparation of returns etc. Division 4--Fees for being trustee or manager of a charitable trust Subdivision A--New client charitable trusts
- 601TDA Subdivision applies to new client charitable trusts
- 601TDB What the trustee company may charge
- 601TDC Option 1: capital commission and income commission
- 601TDD Option 2: annual management fee
- 601TDE Additional amount if trust money is in a common fund
- 601TDF Additional amount for preparation of returns etc. Subdivision B--Existing client charitable trusts
- 601TDG Subdivision applies to existing client charitable trusts
- 601TDH Trustee company not to charge more than was being charged before section commenced
- 601TDI Additional amount if trust money is in a common fund
- 601TDJ Additional amount for preparation of returns etc. Division 5--Miscellaneous
- 601TEA Power of the Court with respect to excessive fees
- 601TEB Directors' fees
PART 5D.4----DUTIES OF OFFICERS AND EMPLOYEES OF LICENSED TRUSTEE COMPANIES
- 601UAA Duties of officers of licensed trustee company
- 601UAB Duties of employees of licensed trustee company
PART 5D.5----LIMIT ON CONTROL OF AND PROPOSED LICENSED TRUSTEE COMPANIES
Division 1--15% voting power limit- 601VAA Meaning of unacceptable control situation --licensed trustee company or a proposed licensed trustee company
- 601VAB Acquisitions of shares
- 601VAC Orders to remedy unacceptable control situation
- 601VAD Injunctions Division 2--Approval to exceed 15% voting power limit
- 601VBA Application for approval to exceed 15% voting power limit
- 601VBB Approval of application
- 601VBC Duration of approval
- 601VBD Conditions of approval
- 601VBE Varying percentage approved
- 601VBF Revoking an approval
- 601VBG Minister may require further information from applicants
- 601VBH Minister may seek views of the company concerned and its clients
- 601VBI Time limit for Minister's decision Division 3--Other matters
- 601VCA Acquisition of property
- 601VCB Interests of clients to be viewed as a group
- 601VCC Anti - avoidance
PART 5D.6----ASIC-APPROVED TRANSFERS OF ESTATE ASSETS AND LIABILITIES
Division 1--Preliminary- 601WAA Meaning of estate assets and liabilities Division 2--Transfer of estate assets and liabilities
- 601WBA Transfer determinations
- 601WBB When consent of receiving company is in force
- 601WBC Complementary State or Territory legislation
- 601WBD Minister's power to decide that his or her consent is not required
- 601WBE Determinations may impose conditions
- 601WBF Notice of determination
- 601WBG Certificate of transfer
- 601WBH Notice of certificate
- 601WBI Time and effect of transfer
- 601WBJ Substitution of trustee company
- 601WBK Liabilities for breach of trust and other matters not affected by this Part Division 3--Other matters related to the transfer of estate assets and liabilities
- 601WCA Certificates evidencing operation of Act etc.
- 601WCB Certificates in relation to land and interests in land
- 601WCC Certificates in relation to other assets
- 601WCD Documents purporting to be certificates
- 601WCE Construction of references to transferring company
- 601WCF Income or other distribution received by transferring company
- 601WCG Access to books
- 601WCH Minister or ASIC may seek views of trustee company and its clients
- 601WCI Authorisation to perform functions or exercise powers in this Part Division 4--Miscellaneous
- 601WDA Transferring company required to contact certain persons
PART 5D.7----CONTRAVENTIONS AND HOLDING OUT
PART 5D.8----EXEMPTIONS AND MODIFICATIONS
- 601YAA Exemptions and modifications by ASIC
- 601YAB Exemptions and modifications by regulations
CHAPTER 6--Takeovers
- 602 Purposes of Chapter
- 602A Meaning of substantial interest
- 603 Chapter extends to some listed bodies that are not companies
- 604 Chapter extends to listed registered schemes
- 605 Classes of securities
- 605A Chapter does not apply to MCIs
PART 6.1----PROHIBITED ACQUISITIONS OF RELEVANT INTERESTS IN VOTING SHARES
- 606 Prohibition on certain acquisitions of relevant interests in voting shares
- 607 Effect on transactions
- 608 Relevant interests in securities
- 609 Situations not giving rise to relevant interests
- 609A Another situation not giving rise to relevant interests--acceptance facility
- 609B Another situation not giving rise to relevant interests--securities subject to escrow agreement in connection with initial public offer etc.
- 610 Voting power in a body or managed investment scheme
PART 6.2----EXCEPTIONS TO THE PROHIBITION
- 611 Exceptions to the prohibition
- 612 Effect of non - compliance with takeover rules for exceptions 1 to 4
- 613 Bidder not to exercise voting rights if failure to send bids for off - market acquisition--exception 2 or 3
- 615 Treatment of foreign holders under equal access issue--exception 10
PART 6.3----THE DIFFERENT TYPES OF TAKEOVER BID
- 616 Off - market bids and market bids
PART 6.4----FORMULATING THE TAKEOVER OFFER
Division 1--General- 617 Securities covered by the bid
- 618 Offers must be for all or a proportion of securities in the bid class
- 619 General terms of the offer
- 620 Off - market bid (offer formalities) Division 2--Consideration for the offer
- 621 Consideration offered
- 622 Escalation agreements
- 623 Collateral benefits not allowed Division 3--The offer period
- 624 Offer period Division 4--Conditional offers
- 625 Conditional offers--general
- 626 Maximum acceptance conditions in off - market bids
- 627 Discriminatory conditions not allowed for off - market bids
- 628 Conditions requiring payments to officers of target not allowed in off - market bids
- 629 Conditions turning on bidder's or associate's opinion not allowed in off - market bids
- 630 Defeating conditions
PART 6.5----THE TAKEOVER PROCEDURE
Division 1--The overall procedure- 631 Proposing or announcing a bid
- 632 Overview of steps in an off - market bid
- 633 Detailed steps in an off - market bid
- 634 Overview of steps in a market bid
- 635 Detailed steps in a market bid Division 2--The bidder's statement
- 636 Bidder's statement content
- 637 Bidder's statement formalities Division 3--The target's response
- 638 Target's statement content
- 639 Target's statement formalities
- 640 Expert's report to accompany target's statement if bidder connected with target
- 641 Target must inform bidder about securities holdings
- 641A Use or disclosure of information obtained from target
- 642 Expenses of directors of target companies Division 4--Updating and correcting the bidder's statement and target's statement
- 643 Supplementary bidder's statement
- 644 Supplementary target's statement
- 645 Form of supplementary statement
- 646 Consequences of lodging a supplementary statement
- 647 To whom supplementary statement must be sent Division 5--General rules on takeover procedure Subdivision A--Experts' reports
- 648A Experts' reports Subdivision B--Sending documents to holders of securities
- 648B Address at which bidder may send documents to holders of securities
- 648C Sending documents to holders of securities--general
- 648CB Sending documents to holders of securities--effect of election by holder to be sent documents by target in particular form Subdivision C--Effect of proportional takeover approval provisions
- 648D Constitution may contain proportional takeover approval provisions
- 648E Resolution to be put if proportional bid made
- 648F Effect of rejection of approval resolution
- 648G Including proportional takeover provisions in constitution
- 648H Effect of Subdivision
PART 6.6----VARIATION OF OFFERS
Division 1--Market bids- 649A General
- 649B Market bids--raising bid price
- 649C Market bids--extending the offer period Division 2--Off-market bids (express variation by bidder)
- 650A General
- 650B Off - market bids--consideration offered
- 650C Off - market bids--extension of offer period
- 650D Off - market bids--method of making variation
- 650E Right to withdraw acceptance
- 650F Freeing off - market bids from defeating conditions
- 650G Contracts and acceptances void if defeating condition not fulfilled Division 3--Off-market bids (automatic variations)
- 651A Off - market bid--effect on bid consideration of purchases made outside bid
- 651B How to make an election for new forms of consideration
- 651C Returning securities as part of election
PART 6.7----WITHDRAWAL AND SUSPENSION OF OFFERS
- 652A Withdrawal of unaccepted offers under takeover bid
- 652B Withdrawal of takeover offers with ASIC consent
- 652C Withdrawal of market bids
PART 6.8----ACCEPTANCES
- 653A Acceptance of offers made under off - market bid
- 653B Acceptances by transferees and nominees of offers made under off - market bid
PART 6.9----OTHER ACTIVITIES DURING THE BID PERIOD
- 654A Bidder not to dispose of securities during the bid period
- 654B Disclosures about substantial shareholdings in listed companies
- 654C Disclosures about substantial shareholdings in unlisted companies
PART 6.10----REVIEW AND INTERVENTION
Division 1--ASIC's power to exempt and modify- 655A ASIC's power to exempt and modify
- 655B Notice of decision and review rights Division 2--The Takeovers Panel Subdivision A--Review of ASIC's exercise of its exemption or modification powers
- 656A Review of exercise of exemption or modification powers
- 656B Operation and implementation of a decision that is subject to review Subdivision B--Unacceptable circumstances
- 657A Declaration of unacceptable circumstances
- 657B When Takeovers Panel may make declaration
- 657C Applying for declarations and orders
- 657D Orders that Takeovers Panel may make following declaration
- 657E Interim orders
- 657EA Internal Takeovers Panel reviews
- 657EB References by Courts
- 657F Offence to contravene Takeovers Panel order
- 657G Orders by the Court where contravention or proposed contravention of Takeovers Panel order
- 657H ASIC may publish report about application to Takeovers Panel or Court Subdivision C--General provisions
- 658A Power of Takeovers Panel where a proceeding is frivolous or vexatious
- 658B Evidentiary value of findings of fact by Takeovers Panel
- 658C Takeovers Panel's power to make rules
- 658D Inconsistency between Takeovers Panel rules and ASIC exemption or declaration Division 3--Court powers
- 659A Takeovers Panel may refer questions of law to the Court
- 659AA Object of sections 659B and 659C
- 659B Court proceedings before end of bid period
- 659C Court proceedings after end of bid period
CHAPTER 6A--Compulsory acquisitions and buy-outs
- 660A Chapter extends to some listed bodies that are not companies
- 660B Chapter extends to listed registered schemes
- 660C Chapter does not apply to MCIs
PART 6A.1----COMPULSORY ACQUISITIONS AND BUY-OUTS FOLLOWING TAKEOVER BID
Division 1--Compulsory acquisition of bid class securities- 661A Compulsory acquisition power following takeover bid
- 661B Compulsory acquisition notice
- 661C Terms on which securities to be acquired
- 661D Holder may obtain names and addresses of other holders
- 661E Holder may apply to Court to stop acquisition
- 661F Signpost--completing the acquisition of the securities Division 2--Compulsory buy-out of bid class securities
- 662A Bidder must offer to buy out remaining holders of bid class securities
- 662B Bidder to tell remaining holders of their right to be bought out
- 662C Right of remaining holder of securities in the bid class to be bought out Division 3--Compulsory buy-out of convertible securities
- 663A Bidder must offer to buy out holders of convertible securities
- 663B Bidder to tell holders of convertible securities of their right to be bought out
- 663C Right of holders of convertible securities to be bought out
PART 6A.2----GENERAL COMPULSORY ACQUISITIONS AND BUY-OUTS
Division 1--Compulsory acquisition of securities by 90% holder- 664A Threshold for general compulsory acquisition power
- 664AA Time limit on exercising compulsory acquisition power
- 664B The terms for compulsory acquisition
- 664C Compulsory acquisition notice
- 664D Benefits outside compulsory acquisition procedure
- 664E Holder's right to object to the acquisition
- 664F The Court's power to approve acquisition
- 664G Signpost--completing the acquisition of the securities Division 2--Compulsory buy-out of convertible securities by 100% holder
- 665A 100% holder must offer to buy out holders of convertible securities
- 665B 100% holder to tell holders of convertible securities of their right to be bought out
- 665C Right of holders of convertible securities to be bought out
PART 6A.3----COMPLETION OF COMPULSORY ACQUISITION OF SECURITIES
- 666A Completing the acquisition of securities
- 666B Statutory procedure for completion
PART 6A.4----EXPERTS' REPORTS AND VALUATIONS
- 667A Expert's report
- 667AA Expert to be nominated
- 667B Expert must not be an associate and must disclose prior dealings and relationships
- 667C Valuation of securities
PART 6A.5----RECORDS OF UNCLAIMED CONSIDERATION
- 668A Company's power to deal with unclaimed consideration for compulsory acquisition
- 668B Unclaimed consideration to be transferred to ASIC
PART 6A.6----ASIC POWERS
PART 6A.7----MISCELLANEOUS
- 669A Sending documents
CHAPTER 6B--Rights and liabilities in relation to Chapter 6 and 6A matters
- 670A Misstatements in, or omissions from, takeover and compulsory acquisition and buy - out documents
- 670B Right to recover for loss or damage resulting from contravention
- 670C People liable on takeover or compulsory acquisition statement to inform maker about deficiencies in the statement
- 670D Defences against prosecutions under subsection 670A(3) and actions under section 670B
- 670E Liability for proposing a bid or not carrying through with bid
- 670F Defences
CHAPTER 6C--Information about ownership of listed companies, listed registered schemes and listed notified foreign passport funds
PART 6C.1----SUBSTANTIAL HOLDING INFORMATION
- 671B Information about substantial holdings must be given to company, responsible entity, fund operator and relevant market operator
- 671C Civil liability
PART 6C.2----TRACING BENEFICIAL OWNERSHIP OF SHARES
- 672A Disclosure notices
- 672B Disclosure by member of relevant interests and instructions
- 672C ASIC may pass information on to person who made request
- 672D Fee for complying with a direction given by a company, scheme or fund under this Part
- 672DA Register of information about relevant interests in listed company, listed registered scheme or listed notified foreign passport fund
- 672E No notice of rights
- 672F Civil liability
PART 6C.3----ASIC POWERS
CHAPTER 6CA--Continuous disclosure
- 674 Continuous disclosure--listed disclosing entity bound by a disclosure requirement in market listing rules--reasonable person's expectations
- 674A Continuous disclosure--listed disclosing entity bound by a disclosure requirement in market listing rules--knowledge, recklessness or negligence
- 675 Continuous disclosure--other disclosing entities--reasonable person's expectations
- 675A Continuous disclosure--other disclosing entities--knowledge, recklessness or negligence
- 676 Meaning of generally available
- 677 Material effect on price or value
- 678 Application of Criminal Code to offences based on subsection 674(2), 674(5) or 675(2)
CHAPTER 6D--Fundraising
PART 6D.1----APPLICATION OF THE FUNDRAISING PROVISIONS
- 700 Coverage of the fundraising rules
- 702 Treatment of offers of options over securities
- 703 Chapter may not be contracted out of
- 703A Operating a clearing and settlement facility is not offering securities etc.
PART 6D.2----DISCLOSURE TO INVESTORS ABOUT SECURITIES (OTHER THAN FOR CSF OFFERS)
Division 1--Overview- 703B Part generally does not apply in relation to CSF offers
- 704 When disclosure to investors is needed
- 705 Types of disclosure document Division 2--Offers that need disclosure to investors
- 706 Issue offers that need disclosure
- 707 Sale offers that need disclosure
- 708 Offers that do not need disclosure
- 708AA Rights issues that do not need disclosure
- 708A Sale offers that do not need disclosure Division 3--Types of disclosure documents
- 709 Prospectuses, short - form prospectuses, profile statements and offer information statements Division 4--Disclosure requirements
- 710 Prospectus content--general disclosure test
- 711 Prospectus content--specific disclosures
- 712 Prospectus content--short form prospectuses
- 713 Special prospectus content rules for continuously quoted securities
- 713A Offer of simple corporate bonds
- 713B Simple corporate bonds--2 - part simple corporate bonds prospectus
- 713C Simple corporate bonds--base prospectus
- 713D Simple corporate bonds--offer - specific prospectus
- 713E Simple corporate bonds--prospectus may refer to other material lodged with ASIC
- 714 Contents of profile statement
- 715 Contents of offer information statement
- 715A Presentation etc. of disclosure documents
- 716 Disclosure document date and consents Division 5--Procedure for offering securities
- 717 Overview of procedure for offering securities
- 718 Lodging of disclosure document
- 719 Lodging supplementary or replacement document--general
- 719A Lodging supplementary or replacement document--2 - part simple corporate bonds prospectus
- 720 Consents needed for lodgment
- 721 Offer must be made in, or accompanied by, the disclosure document
- 722 Application money to be held on trust
- 723 Issuing or transferring the securities under a disclosure document
- 724 Choices open to person making the offer if disclosure document condition not met or disclosure document defective
- 725 Expiration of disclosure document
PART 6D.3----PROHIBITIONS, LIABILITIES AND REMEDIES (OTHER THAN FOR CSF OFFERS)
Division 1A--Introduction- 725A Part generally does not apply in relation to CSF offers Division 1--Prohibitions and liabilities
- 726 Offering securities in a body that does not exist
- 727 Offering securities without a current disclosure document
- 728 Misstatement in, or omission from, disclosure document
- 729 Right to recover for loss or damage resulting from contravention
- 730 People liable on disclosure document to inform person making the offer about deficiencies in the disclosure document
- 731 Due diligence defence for prospectuses
- 732 Lack of knowledge defence for offer information statements and profile statements
- 733 General defences for all disclosure documents
- 734 Restrictions on advertising and publicity
- 735 Obligation to keep consents and other documents Division 2--Remedies
- 737 Remedies for investors
PART 6D.3A----CROWD-SOURCED FUNDING
Division 1--Introduction- 738A Object
- 738B Meaning of CSF offer
- 738C Meaning of CSF intermediary
- 738D Meaning of retail client in relation to a CSF offer
- 738E Offer of the securities may also be made in reliance on section 708
- 738F Application of provisions of Chapter 7 relating to how obligations etc. apply to different kinds of persons Division 2--Offers that are eligible to be made under this Part
- 738G Offers that are eligible to be made under this Part
- 738H Meaning of eligible CSF company Division 3--Making offers under this Part
- 738J CSF offer document to be prepared
- 738K Other requirements for CSF offer document
- 738L CSF offer document to be published on platform of a single CSF intermediary
- 738M Consents needed for publication of CSF offer document
- 738N Meaning of made , open , closed , suspended and complete
- 738P CSF offer document to be removed from offer platform if offer closes in certain circumstances
- 738Q Gatekeeper obligations of CSF intermediaries
- 738R Company and related parties not to have more than one CSF offer open at any one time
- 738S Company may notify responsible intermediary that it wants CSF offer withdrawn
- 738T Withdrawal of applications made pursuant to CSF offer Division 4--Defective etc. CSF offer documents
- 738U Meaning of defective
- 738V Obligation to notify company making offer, and responsible intermediary, if CSF offer document is defective
- 738W Company may provide replacement or supplementary CSF document in certain circumstances
- 738X Responsible intermediary's obligations on becoming aware that CSF offer document is defective
- 738Y Other liabilities relating to defective CSF offer documents
- 738Z Exceptions to liability under section 738Y Division 5--Other obligations of CSF intermediaries
- 738ZA General obligations of CSF intermediaries relating to their platforms etc.
- 738ZB Responsible intermediary's obligations relating to application money Division 6--Additional protections for retail clients
- 738ZC Caps on investment by retail clients pursuant to CSF offers
- 738ZD Cooling - off rights for retail clients
- 738ZE Company making CSF offer or CSF intermediary etc. must not financially assist retail client to acquire securities Division 7--Other matters
- 738ZF Offering securities of a company that does not exist
- 738ZG Restrictions on advertising and publicity
- 738ZH Liabilities under other laws not affected
- 738ZI Companies eligible for limited governance requirements
- 738ZJ Regulations relating to how CSF intermediaries are to deal with applications
- 738ZK Related party transactions--proprietary companies that have one or more CSF shareholders
PART 6D.4----ASIC'S POWERS
PART 6D.5----MISCELLANEOUS
- 742 Exemptions and modifications by regulations
CHAPTER 7--Financial services and markets
PART 7.1----PRELIMINARY
Division 1--Object of Chapter and outline of Chapter- 760A Object of Chapter
- 760B Outline of Chapter Division 2--Meaning of some terms relating to financial services and markets
- 761A Meaning of some terms relating to financial services and markets
- 761B Meaning of arrangement
- 761CAA Meaning of claimant intermediary
- 761CA Meaning of class and kind of financial products and financial services
- 761D Meaning of derivative
- 761DA Meaning of insurance claims manager
- 761E Meaning of acquire , issue and provide
- 761EA Meaning of margin lending facility , margin call and associated expressions
- 761F Meaning of person --generally includes a partnership
- 761FA Meaning of person --generally includes multiple trustees
- 761G Meaning of retail client and wholesale client
- 761GA Meaning of retail client --sophisticated investors
- 761H References to this Chapter include references to regulations or other instruments made for the purposes of this Chapter Division 3--Meaning of financial product and related terms Subdivision A--Preliminary
- 762A Overview of approach to defining what a financial product is
- 762B What if a financial product is part of a broader facility?
- 762C Meaning of facility Subdivision B--The general definition
- 763A Meaning of financial product
- 763B Meaning of makes a financial investment
- 763C Meaning of manages financial risk
- 763D Meaning of makes non - cash payments
- 763E What if a financial product is only incidental? Subdivision C--Specific inclusions
- 764A Specific things that are financial products (subject to Subdivision D) Subdivision D--Specific exclusions
- 765A Specific things that are not financial products Division 4--Meaning of financial service and related terms
- 766A Meaning of financial service
- 766B Meaning of financial product advice , personal advice and general advice
- 766C Meaning of dealing
- 766D Meaning of makes a market
- 766E Meaning of custodial or depository service
- 766F Meaning of crowd - funding service
- 766G Meaning of claims handling and settling service
- 766H Meaning of superannuation trustee service Division 5--Meaning of financial market
- 767A Meaning of financial market Division 6--Meaning of clearing and settlement facility
- 768A Meaning of clearing and settlement facility Division 7--General provisions relating to civil and criminal liability
- 769A Part 2.5 of Criminal Code does not apply
- 769B People are generally responsible for the conduct of their agents, employees etc.
- 769C Representations about future matters taken to be misleading if made without reasonable grounds
PART 7.2----LICENSING OF FINANCIAL MARKETS
Division 1--Preliminary- 790A Meaning of clearing and settlement arrangements Division 2--Requirement to be licensed
- 791A Need for a licence
- 791B Other prohibitions on holding out
- 791C Exemptions by Minister
- 791D Meaning of operated in this jurisdiction --financial market Division 3--Regulation of market licensees Subdivision A--Licensee's obligations
- 792A General obligations
- 792B Obligation to notify ASIC of certain matters
- 792C Giving ASIC information about a listed disclosing entity
- 792D Obligation to assist ASIC
- 792E Obligation to give ASIC access to market facilities
- 792F Annual report
- 792G Obligations to notify people about clearing and settlement arrangements in certain circumstances
- 792H Change of country by foreign licensee
- 792I Making information about compensation arrangements publicly available Subdivision B--The market's operating rules and procedures
- 793A Content of the operating rules and procedures
- 793B Legal effect of operating rules
- 793C Enforcement of operating rules
- 793D Changing the operating rules
- 793E Disallowance of changes to operating rules Subdivision C--Powers of the Minister and ASIC
- 794A Minister's power to give directions
- 794B Minister's power to require special report
- 794C ASIC assessment of licensee's compliance
- 794D ASIC's power to give directions
- 794E Additional directions to clearing and settlement facilities Division 4--The Australian market licence Subdivision A--How to get a licence
- 795A How to apply for a licence
- 795B When a licence may be granted
- 795C Publication of notice of licence grant
- 795D More than one licence in the same document
- 795E More than one market covered by the same licence Subdivision B--The conditions on the licence
- 796A The conditions on the licence Subdivision C--When a licence can be varied, suspended or cancelled
- 797A Varying licences
- 797B Immediate suspension or cancellation
- 797C Suspension or cancellation following hearing and report
- 797D Effect of suspension
- 797E Variation or revocation of suspension
- 797F Publication of notice of licence suspension or cancellation
- 797G Suspension and cancellation only in accordance with this Subdivision Division 5--Other matters
- 798A Matters to be taken into account by the Minister
- 798B ASIC may give advice to Minister
- 798C Market licensee or related body corporate etc. listing on market
- 798D Exemptions and modifications for self - listing licensees or related bodies corporate etc.
- 798DA Market licensee, related body corporate etc. or competitor participating in market
- 798E Other potential conflict situations
PART 7.2A----SUPERVISION OF FINANCIAL MARKETS
- 798F ASIC to supervise financial markets
- 798G Market integrity rules
- 798H Complying with market integrity rules
- 798J Directions by ASIC
- 798K Alternatives to civil proceedings
- 798L Exemptions and modifications by regulations
- 798M Exemptions by Minister
PART 7.3----LICENSING OF CLEARING AND SETTLEMENT FACILITIES
Division 1--Requirement to be licensed- 820A Need for a licence
- 820B Other prohibitions on holding out
- 820C Exemptions by Minister
- 820D Meaning of operated in this jurisdiction-- clearing and settlement facility Division 2--Regulation of CS facility licensees Subdivision A--Licensee's obligations
- 821A General obligations
- 821B Obligation to notify ASIC of certain matters
- 821BA Obligation to notify Reserve Bank of certain matters
- 821C Obligation to assist
- 821D Obligation to give ASIC access to the facility
- 821E Annual report
- 821F Change of country by foreign licensee Subdivision B--The facility's operating rules and procedures
- 822A Content of the operating rules and procedures
- 822B Legal effect of operating rules
- 822C Enforcement of operating rules
- 822D Changing the operating rules
- 822E Disallowance of changes to operating rules Subdivision C--Powers of the Minister, ASIC and the Reserve Bank in relation to licensees
- 823A Minister's power to give directions
- 823B Minister's power to require special report
- 823C ASIC assessment of licensee's compliance
- 823CA Reserve Bank assessment of licensee's compliance
- 823D Directions power--protecting dealings in financial products and ensuring fair and effective provision of services by CS facilities
- 823E Directions power--reduction of systemic risk Division 3--The Australian CS facility licence Subdivision A--How to get a licence
- 824A How to apply for a licence
- 824B When a licence may be granted
- 824C Publication of notice of licence grant
- 824D More than one licence in the same document
- 824E More than one CS facility covered by the same licence Subdivision B--The conditions on the licence
- 825A The conditions on the licence Subdivision C--When a licence can be varied, suspended or cancelled
- 826A Varying licences
- 826B Immediate suspension or cancellation
- 826C Suspension or cancellation following hearing and report
- 826D Effect of suspension
- 826E Variation or revocation of suspension
- 826F Publication of notice of licence suspension or cancellation
- 826G Suspension and cancellation only in accordance with this Subdivision Division 4--Other matters
- 827A Matters to be taken into account by the Minister
- 827B ASIC may give advice to Minister
- 827C Reserve Bank may give advice to Minister
- 827D Reserve Bank may determine financial stability standards
PART 7.3A----CS SERVICES
Division 1--Preliminary- 828 Meaning of CS service Division 2--Regulation of CS services: CS services rules Subdivision A--Power to make CS services rules
- 828A CS services rules
- 828B CS services in relation to which rules may impose requirements Subdivision B--Compliance with CS services rules
- 828C Obligation to comply with CS services rules
- 828D Obligation to notify ASIC in respect of breach
- 828E Alternatives to civil proceedings
- 828F Failure to comply with CS services rules does not invalidate transaction etc. Subdivision C--Power of ASIC to give directions etc.
- 828G ASIC's power to give directions to person not complying with obligations Subdivision D--The process of making CS services rules
- 828H Matters to which ASIC must have regard when making rules
- 828J ASIC to consult before making rules
- 828K Ministerial consent to rules required
- 828L Emergency rules: consultation and consent not required
- 828M Amendment and revocation of CS services rules Division 3--Other provisions
- 828N ASIC may give advice to Minister
- 828P ACCC may give advice to Minister
- 828Q Reserve Bank of Australia may give advice to Minister
- 828R Exemptions by the regulations or by ASIC
PART 7.4----LIMITS ON INVOLVEMENT WITH LICENSEES
Division 1--Limit on control of certain licensees Subdivision A--15% voting power limit- 850A Meaning of widely held market body
- 850B Meaning of unacceptable control situation
- 850C Acquisitions of shares
- 850D Orders to remedy unacceptable control situation
- 850E Injunctions Subdivision B--Approval to exceed 15% voting power limit
- 851A Application for approval to exceed 15% voting power limit
- 851B Approval of application
- 851C Duration of approval
- 851D Conditions of approval
- 851E Varying percentage approved
- 851F Revoking an approval
- 851G Further information about applications
- 851H Time limit for Minister's decision
- 851I Preservation of voting power in relation to bodies specified in regulations made for paragraph 850A(b) Subdivision C--Other matters
- 852A Acquisition of property
- 852B Anti - avoidance Division 2--Individuals who are not fit and proper are disqualified
- 853A Meaning of disqualified individual
- 853B Meaning of involved --in some licensees or applicants for a licence
- 853C Declaration by ASIC
- 853D Procedure for declaration
- 853E Revoking a declaration
- 853F Obligations on disqualified individuals
- 853G Notification by ASIC Division 3--Miscellaneous
- 854A Record - keeping and giving of information
- 854B Exemptions and modifications by regulations
PART 7.5----COMPENSATION REGIMES FOR FINANCIAL MARKETS
Division 1--Preliminary- 880A Part does not apply to markets licensed under special provisions about overseas markets
- 880B Meaning of some terms relating to compensation regimes for financial markets Division 2--When there must be a compensation regime
- 881A Licensed markets through which participants provide services for retail clients must generally have a compensation regime
- 881B Additional requirements for the licence application
- 881C What happens if an application contains information in accordance with paragraph 881B(2)(c)
- 881D What happens if an application contains a statement in accordance with paragraph 881B(2)(d) Division 3--Approved compensation arrangements Subdivision A--Approval of compensation arrangements
- 882A How to get compensation arrangements approved with grant of licence
- 882B How to get compensation arrangements approved after licence is granted
- 882C Revocation of approval
- 882D Minister's power to give directions Subdivision B--Effect of compensation rules forming part of Division 3 arrangements
- 883A Legal effect of compensation rules
- 883B Enforcement of compensation rules
- 883C Other sources of funds for compensation
- 883D Payment of levies Subdivision C--Changing Division 3 arrangements
- 884A Division 3 arrangements must generally only be changed in accordance with this Subdivision
- 884B Changing Division 3 arrangements--matters required to be dealt with in the compensation rules
- 884C Changing Division 3 arrangements--matters not required to be dealt with in the compensation rules Subdivision D--Are compensation arrangements adequate?
- 885A Purpose of this Subdivision
- 885B Requirements to be complied with for arrangements to be adequate
- 885C The losses to be covered
- 885D Certain losses that are not Division 3 losses
- 885E The amount of compensation
- 885F Method of payment of compensation
- 885G Making and determination of claims
- 885H The source of funds--general
- 885I Administration and monitoring
- 885J The losses to be covered--other matters to be taken into account Subdivision E--Other provisions about Division 3 arrangements
- 886A Only one claim in respect of the same loss
- 886B Regulations relating to fidelity funds Division 4--NGF Compensation regime Subdivision A--Application of Division
- 887A Markets to which this Division applies Subdivision B--Claims for and payment of compensation
- 888A The situations in which compensation may be claimed
- 888B Kinds of compensation available
- 888C Amount of compensation payable
- 888D Payment of compensation
- 888E Making and determination of claims
- 888F The SEGC has power to determine claims
- 888G Allowing a claim does not constitute an admission of any other liability
- 888H Claimant may apply to Court if claim disallowed
- 888I Non - NGF property of the SEGC not available to meet claims
- 888J The SEGC may enter into contracts of insurance or indemnity
- 888K NGF may be used to acquire financial products to be transferred as compensation Subdivision C--The NGF
- 889A Continuation of the National Guarantee Fund
- 889B Compensation to be provided out of the NGF
- 889C The SEGC to keep the NGF
- 889D What the NGF consists of
- 889E Power to borrow etc. for purposes of the NGF
- 889F Money borrowed and paid to the SEGC
- 889G Money borrowed and not paid to the SEGC
- 889H Payments out of the NGF
- 889I Minimum amount of the NGF
- 889J Levy by the SEGC
- 889K Levy by market operator Subdivision D--The SEGC
- 890A Minister to nominate the SEGC
- 890B The SEGC's functions and powers
- 890C Delegation
- 890D Operating rules of the SEGC
- 890E Legal effect of the SEGC's operating rules
- 890F Enforcement of the SEGC's operating rules
- 890G Changing the SEGC's operating rules
- 890H Disallowance of changes to the SEGC's operating rules Subdivision E--Other provisions relating to compensation under this Division
- 891A Payment out of the NGF to prescribed body with arrangements covering clearing and settlement facility support
- 891B Markets operated by bodies corporate that become members of the SEGC--regulations may deal with transitional provisions and other matters
- 891C Regulations may make different provision in respect of different markets etc. Division 5--Provisions common to both kinds of compensation arrangements
- 892A Meaning of Part 7.5 authority and Part 7.5 regulated fund
- 892B How Part 7.5 regulated funds are to be kept
- 892C Money in a Part 7.5 regulated fund may be invested
- 892D Powers of Part 7.5 authority to require production or delivery of documents or statements
- 892E Power to require assistance for purpose of dealing with a claim
- 892F Part 7.5 authority's right of subrogation if compensation is paid
- 892G Excess money in Part 7.5 regulated funds
- 892H Accounting and reporting
- 892I Division 3 arrangements--reporting in situations where compensation does not come out of a Part 7.5 regulated fund
- 892J Regulations may provide for qualified privilege in respect of certain matters
- 892K Risk assessment report Division 6--Miscellaneous
- 893A Exemptions and modifications by regulations
- 893B Exemptions by Minister
PART 7.5A----REGULATION OF DERIVATIVE TRANSACTIONS AND DERIVATIVE TRADE REPOSITORIES
Division 1--Application of Part- 900A Derivatives and transactions etc. to which this Part applies Division 2--Regulation of derivative transactions: derivative transaction rules Subdivision A--Power to make derivative transaction rules
- 901A ASIC may make derivative transaction rules
- 901B Derivatives in relation to which rules may impose requirements
- 901C Regulations may limit the transactions in relation to which rules may impose requirements
- 901D Regulations may limit the persons on whom requirements may be imposed Subdivision B--Compliance with derivative transaction rules
- 901E Obligation to comply with derivative transaction rules
- 901F Alternatives to civil proceedings
- 901G Failure to comply with derivative transaction rules does not invalidate transaction etc. Subdivision C--The process of making derivative transaction rules
- 901H Matters to which ASIC must have regard when making rules
- 901J ASIC to consult before making rules
- 901K Ministerial consent to rules required
- 901L Emergency rules: consultation and consent not required
- 901M Amendment and revocation of derivative transaction rules Division 3--Regulation of licensed derivative trade repositories: supervision by ASIC
- 902A ASIC to supervise licensed derivative trade repositories Division 4--Regulation of licensed derivative trade repositories: derivative trade repository rules Subdivision A--Power to make derivative trade repository rules
- 903A ASIC may make derivative trade repository rules
- 903B Rules may only impose requirements on operators and officers of licensed derivative trade repositories
- 903C Regulations may limit how rules may deal with matters related to derivative trade data Subdivision B--Compliance with derivative trade repository rules
- 903D Obligation to comply with derivative trade repository rules
- 903E Alternatives to civil proceedings Subdivision C--The process of making derivative trade repository rules
- 903F Matters to which ASIC has regard when making rules
- 903G ASIC to consult before making rules
- 903H Ministerial consent to rules required
- 903J Emergency rules: consultation and consent not required
- 903K Amendment and revocation of derivative trade repository rules Division 5--Regulation of licensed derivative trade repositories: other obligations and powers Subdivision A--Obligations
- 904A General obligations
- 904B Obligations relating to derivative trade data
- 904C Obligation to notify ASIC of certain matters
- 904D Obligation to assist ASIC, APRA and the Reserve Bank
- 904E Obligation to give ASIC access to derivative trade repository facilities Subdivision B--Powers of Minister and ASIC to give directions etc.
- 904F Minister's power to give directions to licensee not complying with obligations
- 904G ASIC's power to give directions to licensee not complying with obligations
- 904H ASIC's power to give directions requiring special reports
- 904J ASIC may assess licensee's compliance
- 904K Directions relating to derivative trade data if repository ceases to be licensed Division 6--Regulation of licensed derivative trade repositories: licensing Subdivision A--Requirement for some trade repositories to be licensed
- 905A Regulations may identify derivative trade repositories as being required to be licensed Subdivision B--Granting of licences
- 905B How to apply for a licence
- 905C When a licence may be granted
- 905D Publication of notice of licence grant
- 905E More than one derivative trade repository covered by the same licence Subdivision C--The conditions on a licence
- 905F The conditions on the licence Subdivision D--When a licence can be varied, suspended or cancelled
- 905G Varying licences
- 905H Immediate suspension or cancellation
- 905J Suspension or cancellation following hearing and report
- 905K Effect of suspension
- 905L Variation or revocation of suspension
- 905M Publication of notice of licence suspension or cancellation
- 905N Suspension and cancellation only in accordance with this Subdivision Subdivision E--Other matters
- 905P Matters to be taken into account by ASIC Division 7--Regulation of prescribed derivative trade repositories
- 906A Regulations may impose obligations and confer powers Division 8--Other matters
- 907A Other prohibitions on holding out
- 907B Making provision by reference to instruments as in force from time to time
- 907C Compliance with requirements to provide derivative trade data or other information: protection from liability
- 907D Exemptions by ASIC
- 907E Exemptions and modifications by regulations
PART 7.5B----REGULATION OF FINANCIAL BENCHMARKS
Division 1--Preliminary- 908AA Simplified outline of this Part
- 908AB Meaning of financial benchmark
- 908AC Meaning of significant financial benchmark
- 908AD Emergency declarations: consultation and consent not required
- 908AE Notifying administrator about declarations
- 908AF ASIC to supervise financial benchmarks that are specified in benchmark administrator licences
- 908AG Extraterritorial application Division 2--Licensing of financial benchmarks Subdivision A--Requirement to be licensed
- 908BA Administrators of significant financial benchmarks must be licensed
- 908BB Other prohibitions on holding out Subdivision B--Granting licences
- 908BC When a licence may be granted
- 908BD Applying for a licence
- 908BE More than one financial benchmark may be specified in the same licence
- 908BF Publishing details of licences Subdivision C--Conditions on licences
- 908BG Conditions, including varying and revoking conditions Subdivision D--When a licence can be varied, suspended or cancelled
- 908BH Varying licences
- 908BI Immediate suspension or cancellation
- 908BJ Suspension or cancellation following hearing and report
- 908BK Effect of suspension
- 908BL Varying or revoking a suspension
- 908BM Publishing details of suspensions or cancellations of licences
- 908BN Variations, suspensions or cancellations only in accordance with this Subdivision Subdivision E--Matters to which ASIC must have regard
- 908BO Matters to which ASIC must have regard Subdivision F--Other obligations of licensees
- 908BP General obligations
- 908BQ Obligation to notify ASIC of certain matters
- 908BR Obligation to assist ASIC, APRA and the Reserve Bank
- 908BS Obligation to give ASIC access to licensee's facilities Subdivision G--Directions to licensees
- 908BT ASIC's power to give directions to licensee not complying with obligations
- 908BU Minister may disallow all or part of an ASIC direction etc.
- 908BV ASIC's power to give directions requiring reports Subdivision H--Other matters
- 908BW ASIC may assess licensee's compliance
- 908BX Basis of licences Division 3--Financial benchmark rules and compelled financial benchmark rules Subdivision A--Power to make financial benchmark rules
- 908CA ASIC may make financial benchmark rules
- 908CB Main permitted matters that may be dealt with in the rules
- 908CC Other permitted matters that may be dealt with in the rules Subdivision B--Power to make compelled financial benchmark rules
- 908CD ASIC may make compelled financial benchmark rules
- 908CE Permitted powers and matters that may be dealt with in the rules Subdivision C--Compliance with each set of rules etc.
- 908CF Obligation to comply with each set of rules
- 908CG Alternatives to civil proceedings
- 908CH Infringement notices
- 908CI Enforceable undertakings
- 908CJ Protection from liability for compliance in good faith Subdivision D--Matters relating to the making of each set of rules
- 908CK Matters to which ASIC has regard when making rules
- 908CL ASIC to consult before making rules
- 908CM Ministerial consent to rules required
- 908CN Emergency rules: consultation and consent not required
- 908CO Requirements
- 908CP Regulations may limit how rules may deal with certain matters
- 908CQ Varying or revoking the rules Division 4--Offences and civil penalties relating to manipulation of financial benchmarks
- 908DA Manipulation of financial benchmarks
- 908DB False or misleading statements or information that could affect financial benchmarks
- 908DC Penalties for offences against this Division
- 908DD Geographical scope of offences and civil penalty provisions Division 5--Other provisions
- 908EA Making provision by referring to instruments as in force from time to time
- 908EB Exemptions by the regulations or by ASIC
PART 7.6----LICENSING OF PROVIDERS OF FINANCIAL SERVICES
Division 1--Preliminary- 910A Meaning of some terms relating to licensing of providers of financial services
- 910B Meaning of control
- 910C Meaning of linked to a refusal or failure to give effect to a determination made by AFCA
- 910D Insurance fulfilment providers taken to be acting on behalf of financial services licensees Division 2--Requirement to be licensed or authorised
- 911A Need for an Australian financial services licence
- 911B Providing financial services on behalf of a person who carries on a financial services business
- 911C Prohibition on holding out
- 911D When a financial services business is taken to be carried on in this jurisdiction Division 3--Obligations of financial services licensees Subdivision A--General obligations
- 912A General obligations
- 912B Arrangements for compensation if financial services provided to persons as retail clients Subdivision B--Providing information and assistance to ASIC
- 912C Direction to provide a statement
- 912CA Regulations may require information to be provided
- 912D Meaning of reportable situation
- 912DAA Obligation to lodge a report--reportable situations in relation to the financial services licensee
- 912DAB Obligation to lodge a report--reportable situations in relation to other financial services licensees
- 912DAC Obligation to give notice--participants in licensed market or licensed CS facility
- 912DAD ASIC must publish details of certain reports
- 912DA Obligation to notify ASIC of change in control
- 912DB Obligation to notify ASIC if licensee does not provide financial service
- 912E Surveillance checks by ASIC Subdivision C--Notifying and remediating clients affected by reportable situations
- 912EA Reporting to clients affected by a reportable situation
- 912EB Obligation to investigate reportable situations that may affect clients
- 912EC Obligation to keep records of compliance Subdivision D--Miscellaneous
- 912F Obligation to cite licence number in documents Division 4--Australian financial services licences Subdivision A--How to get a licence
- 913A Applying for a licence
- 913B When a licence may be granted
- 913BA Fit and proper person test
- 913BB Fit and proper person test--matters to which ASIC must have regard
- 913C Licence numbers Subdivision B--The conditions on the licence
- 914A The conditions on the licence
- 914B ASIC may request information etc. in relation to an application for conditions to be varied Subdivision C--When a licence can be varied, suspended or cancelled
- 915A Varying licences
- 915B Immediate suspension or cancellation
- 915C Suspension or cancellation after offering a hearing
- 915D Effect of suspension
- 915E Revocation of suspension
- 915F Date of effect and publication of cancellation or suspension
- 915G Statement of reasons
- 915H ASIC may allow licence to continue in effect
- 915I Special procedures for APRA - regulated bodies
- 915J Variation, suspension and cancellation only under this Subdivision Division 5--Authorised representatives
- 916A How representatives are authorised
- 916B Sub - authorisations
- 916C Authorised representative of 2 or more licensees
- 916D Licensees cannot authorise other licensees
- 916E Licensees acting under a binder
- 916F Obligation to notify ASIC etc. about authorised representatives
- 916G ASIC may give licensee information about representatives Division 6--Liability of financial services licensees for representatives
- 917A Application of Division
- 917B Responsibility if representative of only one licensee
- 917C Representatives of multiple licensees
- 917D Exception if lack of authority is disclosed to client
- 917E Responsibility extends to loss or damage suffered by client
- 917F Effect of Division Division 8--Banning or disqualification of persons from providing financial services Subdivision A--Banning orders
- 920A ASIC's power to make a banning order
- 920B What a banning order prohibits
- 920C Effect of banning orders
- 920D Variation or cancellation of banning orders
- 920E Date of effect and publication of banning order, variation or cancellation
- 920F Statement of reasons Subdivision B--Disqualification by the Court
- 921A Disqualification by the Court Division 8A--Professional standards for relevant providers etc. Subdivision A--Education and training standards
- 921B Meaning of education and training standards
- 921BA Relevant providers to meet education and training standards
- 921BB Additional requirements for relevant providers who provide tax (financial) advice services
- 921BC Exemptions for certain relevant providers Subdivision AA--Limitations on authorisation to provide personal advice
- 921C Limitation on authorisation to provide personal advice unless conditions met Subdivision B--Ethical standards
- 921E Code of Ethics Subdivision C--Provisional relevant providers
- 921F Requirements relating to provisional relevant providers Subdivision D--Other matters
- 921G Approval of foreign qualifications
- 921GA Approval of domestic qualifications
- 921H Modifications of Part in relation to continuing professional development Division 8B--Action against relevant providers Subdivision A--Action by Financial Services and Credit Panels
- 921K Power of Financial Services and Credit Panels to take action against relevant providers
- 921L Instruments that Financial Services and Credit Panels may make in relation to relevant providers
- 921M Copy of instrument to be given to affected person etc.
- 921N Variation or revocation of instruments made in relation to relevant providers Subdivision B--Proposed action notices etc.
- 921P Proposed action notice
- 921Q Recommendations to ASIC in relation to restricted civil penalty provisions
- 921R Notices to Tax Practitioners Board about qualified tax relevant providers who are registered tax agents Subdivision C--Warnings and reprimands
- 921S Warnings and reprimands by ASIC
- 921T Warnings and reprimands by Financial Services and Credit Panels Subdivision D--Fit and proper person test
- 921U Fit and proper person test for relevant providers Subdivision E--Review of decisions made under this Division etc.
- 921V Review of decisions etc. Subdivision F--Electronic communication
- 921W Electronic communication of documents given by Financial Services and Credit Panels etc.
- 921X Electronic communication of documents given to Financial Services and Credit Panels etc. Division 8C--Registration of relevant providers Subdivision A--Requirement for relevant providers to be registered
- 921Y Unregistered relevant providers not to provide personal advice
- 921Z Financial services licensees not to continue to authorise unregistered relevant providers to provide personal advice Subdivision B--Applications for registration
- 921ZA Application for registration--relevant providers who are financial services licensees applying to be registered
- 921ZB Application for registration--financial services licensees applying to register relevant providers Subdivision C--Registration and period of registration
- 921ZC Registration of relevant providers
- 921ZD Period of registration--relevant providers who are financial services licensees
- 921ZE Period of registration--relevant providers who are registered in relation to financial services licensees
- 921ZF Assisted decision making Division 9--Registers relating to financial services Subdivision A--Registers generally
- 922A Registers relating to financial services
- 922B Fees for searching registers Subdivision B--Notice requirements relating to the Register of Relevant Providers
- 922D Obligation to notify ASIC about a person who becomes a relevant provider
- 922E Information about a relevant provider who is a financial services licensee
- 922F Information about a relevant provider who is not a financial services licensee
- 922G Meaning of recent advising history
- 922H Ongoing obligation to notify ASIC when there is a change in a matter for a relevant provider
- 922HA Obligation to notify ASIC of financial services licensee's CPD year
- 922HB Obligation to notify ASIC of non - compliance with CPD provisions
- 922HC Requirement to retain information
- 922J Obligation to notify ASIC about a person who starts to have control of a body corporate licensee
- 922K Obligation to notify ASIC about a person who ceases to have control of a body corporate licensee
- 922L Requirement for notice to be lodged
- 922M Failing to comply with obligation to notify ASIC
- 922N Obligation for relevant providers to provide information to financial services licensees
- 922P Change in matter within 30 business days Subdivision C--Register of Relevant Providers
- 922Q Register of Relevant Providers
- 922R Relevant provider number
- 922S Correcting the Register Division 10--Restrictions on use of terminology
- 923A Restriction on use of certain words or expressions
- 923B Restriction on use of certain words or expressions unless authorised in licence conditions
- 923C Restriction on use of terms "financial adviser" and "financial planner" Division 11--Agreements with unlicensed persons relating to the provision of financial services Subdivision A--Agreements affected
- 924A Agreements with certain unlicensed persons Subdivision B--Effect on agreements
- 925A Client may give notice of rescission
- 925B Effect of notice under section 925A
- 925C Client may apply to Court for partial rescission
- 925D Court may make consequential orders
- 925E Agreement unenforceable against client
- 925F Non - licensee not entitled to recover commission
- 925G Onus of establishing non - application of section 925E or 925F
- 925H Client may recover commission paid to non - licensee
- 925I Remedies under this Division additional to other remedies Division 12--Miscellaneous
- 926A Exemptions and modifications by ASIC
- 926B Exemptions and modifications by regulations
PART 7.7----FINANCIAL SERVICES DISCLOSURE
Division 1--Preliminary- 940A How Part applies if a financial services licensee is acting as authorised representative
- 940B What if there is no reasonable opportunity to give a document, information or statement required by this Part?
- 940C How documents, information and statements are to be given
- 940D General approach to offence provisions Division 2--Person provided with financial service as retail client to be given a Financial Services Guide Subdivision A--Requirement for a Financial Services Guide to be given
- 941A Obligation on financial services licensee to give a Financial Services Guide if financial service provided to person as a retail client
- 941B Obligation on authorised representative to give a Financial Services Guide if financial service provided to person as a retail client
- 941C Situations in which a Financial Services Guide is not required
- 941D Timing of giving Financial Services Guide
- 941E Information must be up to date
- 941F Obligation to give updated Financial Services Guide Subdivision B--Content and authorisation of Financial Services Guide
- 942A Title of Financial Services Guide
- 942B Financial Services Guide given by financial services licensee--main requirements
- 942C Financial Services Guide given by authorised representative--main requirements
- 942D Financial Services Guide may consist of 2 or more separate documents given at same time
- 942DA Combining a Financial Services Guide and a Product Disclosure Statement in a single document
- 942E Altering a Financial Services Guide after its preparation and before giving it to a person Subdivision C--Supplementary Financial Services Guides
- 943A What a Supplementary Financial Services Guide is
- 943B Title of Supplementary Financial Services Guide
- 943C Form of Supplementary Financial Services Guide
- 943D Effect of giving a person a Supplementary Financial Services Guide
- 943E Situation in which only a Supplementary Financial Services Guide need be given
- 943F Altering a Supplementary Financial Services Guide after its preparation and before giving it to a person Division 3--Additional requirements for personal advice provided to a retail client Subdivision A--When this Division applies
- 944A Situation in which Division applies Subdivision C--Requirement for a Statement of Advice to be given
- 946A Obligation to give client a Statement of Advice
- 946AA Small investments--Statement of Advice not required
- 946B Other situations in which a Statement of Advice is not required
- 946C Timing of giving Statement of Advice Subdivision D--Content of Statement of Advice
- 947A Title of Statement of Advice
- 947B Statement of Advice given by financial services licensee--main requirements
- 947C Statement of Advice given by authorised representative--main requirements
- 947D Additional requirements when advice recommends replacement of one product with another
- 947E Statement of Advice not to be combined with Financial Services Guide or Product Disclosure Statement Subdivision E--Other matters
- 948A Qualified privilege if providing entity complies with this Division Division 3A--Cash Settlement Fact Sheet Subdivision A--When this Division applies
- 948B Situation in which this Division applies Subdivision B--Requirement for a Cash Settlement Fact Sheet to be given
- 948C Obligation to give client a Cash Settlement Fact Sheet
- 948D Timing for giving a Cash Settlement Fact Sheet Subdivision C--Contents of a Cash Settlement Fact Sheet
- 948E Title of Cash Settlement Fact Sheet
- 948F Content of Cash Settlement Fact Sheet Division 4--Other disclosure requirements
- 949A General advice provided to retail client--obligation to warn client that advice does not take account of client's objectives, financial situation or needs
- 949B Regulations may impose disclosure requirements in certain situations Division 6--Miscellaneous
- 951A Part cannot be contracted out of
- 951B Exemptions and modifications by ASIC
- 951C Exemptions and modifications by regulations Division 7--Enforcement Subdivision A--Offences
- 952A Overview
- 952B Meaning of defective and disclosure document or statement
- 952C Offence of failing to give a disclosure document or statement
- 952D Offence of giving a disclosure document or statement knowing it to be defective
- 952E Giving a defective disclosure document or statement (whether or not known to be defective)
- 952F Offences of financial services licensee knowingly providing defective disclosure material to an authorised representative
- 952G Offences of financial services licensee providing disclosure material to an authorised representative (whether or not known to be defective)
- 952H Financial services licensee failing to ensure authorised representative gives disclosure documents or statements as required
- 952I Offences if a Financial Services Guide (or Supplementary FSG) does not comply with certain requirements
- 952J Offence if a Statement of Advice does not comply with certain requirements
- 952JA Offence if a Cash Settlement Fact Sheet does not comply with certain requirements
- 952K Offence if authorised representative gives out unauthorised Financial Services Guide (or Supplementary FSG)
- 952L Offences if financial services licensee or authorised representative becomes aware that a Financial Services Guide (or Supplementary FSG) is defective
- 952M Offence of unauthorised alteration of Financial Services Guide or Supplementary Financial Services Guide Subdivision B--Civil liability
- 953A Meaning of defective and disclosure document or statement
- 953B Civil action for loss or damage
- 953C Additional powers of court to make orders
PART 7.7A----BEST INTERESTS OBLIGATIONS AND REMUNERATION
Division 1--Preliminary- 960A No contracting out
- 960B Obligations under this Part in addition to other obligations Division 2--Best interests obligations Subdivision A--Preliminary
- 961 Application of this Division
- 961A Application to a financial services licensee acting as an authorised representative Subdivision B--Provider must act in the best interests of the client
- 961B Provider must act in the best interests of the client
- 961C Meaning of reasonably apparent
- 961D Meaning of reasonable investigation
- 961E What would reasonably be regarded as in the best interests of the client?
- 961F Meaning of basic banking product Subdivision C--Resulting advice must be appropriate to the client
- 961G Resulting advice must be appropriate to the client Subdivision D--Where resulting advice still based on incomplete or inaccurate information
- 961H Resulting advice still based on incomplete or inaccurate information Subdivision E--Provider to give priority to the client's interests
- 961J Conflict between client's interests and those of provider, licensee, authorised representative or associates Subdivision F--Responsibilities of licensees under this Division
- 961K Civil penalty provision--sections 961B, 961G, 961H and 961J
- 961L Licensees must ensure compliance
- 961M Civil action for loss or damage
- 961N Additional powers of Court to make orders
- 961P Meaning of responsible licensee Subdivision G--Responsibilities of authorised representatives under this Division
- 961Q Civil penalty provision--sections 961B, 961G, 961H and 961J Division 3--Charging ongoing fees to clients Subdivision A--Preliminary
- 962 Application of this Division
- 962A Meaning of ongoing fee arrangement
- 962B Meaning of ongoing fee
- 962C Meaning of fee recipient Subdivision B--Termination, disclosure and renewal
- 962E Client may terminate arrangement at any time
- 962F Arrangement terminates if this Subdivision not complied with
- 962FA Arrangement terminates if Subdivision C not complied with
- 962G Annual requirement to give fee disclosure statement
- 962H Fee disclosure statements
- 962L Meaning of renewal period
- 962M If client notifies fee recipient that client does not wish to renew
- 962N If client does not notify fee recipient that client wishes to renew
- 962P Civil penalty provision--charging ongoing fees after arrangement terminated
- 962Q Effect of termination Subdivision C--Consent required for deduction of ongoing fees from accounts
- 962R Fee recipient must not deduct ongoing fees without consent
- 962S Fee recipient must not arrange for deduction of ongoing fees without consent or accept such deductions
- 962T Requirements relating to consent
- 962U Variation or withdrawal of consent
- 962V When consent ceases to have effect
- 962W Conditions requiring consent to be given are void Subdivision D--Records of compliance
- 962X Obligation to keep records of compliance Division 4--Conflicted remuneration Subdivision A--Preliminary
- 963 Application to a financial services licensee acting as an authorised representative Subdivision B--Meaning of conflicted remuneration
- 963A Meaning of conflicted remuneration --general
- 963AA Benefits given in relation to life risk insurance products
- 963B Monetary benefit given in certain circumstances not conflicted remuneration
- 963BA Meaning of benefit ratio requirements and clawback requirements
- 963C Non - monetary benefit given in certain circumstances not conflicted remuneration
- 963D Benefits for employees etc. of ADIs Subdivision C--Ban on conflicted remuneration
- 963E Licensee must not accept conflicted remuneration
- 963F Licensee must ensure compliance
- 963G Authorised representative must not accept conflicted remuneration
- 963H Other representatives must not accept conflicted remuneration
- 963J Employer must not give employees conflicted remuneration
- 963K Product issuer or seller must not give conflicted remuneration
- 963L Volume - based benefits presumed to be conflicted remuneration Subdivision D--Rebate of conflicted remuneration
- 963M Person covered by this section in relation to conflicted remuneration
- 963N Regulations may provide for rebate of conflicted remuneration
- 963P Person covered by section 963M must pay amount etc. in accordance with regulations Division 5--Other banned remuneration Subdivision A--Volume-based shelf-space fees
- 964 Application
- 964A Platform operator must not accept volume - based shelf - space fees Subdivision B--Asset-based fees on borrowed amounts
- 964B Application
- 964C Application to a financial services licensee acting as an authorised representative
- 964D Financial services licensees must not charge asset - based fees on borrowed amounts
- 964E Authorised representatives must not charge asset - based fees on borrowed amounts
- 964F Meaning of asset - based fee
- 964G Meaning of borrowed
- 964H Meaning of reasonably apparent Division 6--Anti-avoidance
- 965 Anti - avoidance
PART 7.8----OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE
Division 1--Preliminary- 980A Matters covered by this Part
- 980B General approach to offence provisions Division 2--Dealing with clients' money Subdivision A--Money other than loans
- 981A Money to which Subdivision applies
- 981B Obligation to pay money into an account
- 981C Regulations may deal with various matters relating to accounts maintained for the purposes of section 981B
- 981D Money related to derivatives may be used for general margining etc. purposes
- 981E Protection of money from attachment etc.
- 981F Regulations may deal with how money to be dealt with if licensee ceases to be licensed etc.
- 981G Account provider not liable merely because of licensee's contravention
- 981H Money to which Subdivision applies taken to be held in trust Subdivision AA--Client money reporting rules
- 981J Client money reporting rules
- 981K Matters that may be dealt with in client money reporting rules
- 981L ASIC to consult before making rules
- 981M Complying with client money reporting rules
- 981N Alternatives to civil proceedings
- 981P Compliance with requirements to provide data or other information to ASIC: protection from liability Subdivision B--Loan money
- 982A Money to which this Subdivision applies
- 982B Obligation to pay money into an account
- 982C Licensee to give client statement setting out terms of loan etc.
- 982D Permitted use of loan Subdivision C--Powers of Court
- 983A Court may freeze certain accounts
- 983B Interim order freezing accounts
- 983C Duty of person to whom order directed to make full disclosure
- 983D Further orders and directions
- 983E Power of Court to make order relating to payment of money Division 3--Dealing with other property of clients
- 984A Property to which Division applies
- 984B How property to which this Division applies is to be dealt with Division 4--Special provisions relating to insurance
- 985A Meaning of contract of insurance and insured
- 985B Status of amounts paid to financial services licensees in respect of contracts of insurance
- 985C Regulations may impose other requirements etc. if financial services licensee is not the insurer
- 985D Financial services licensees etc. not to deal in general insurance products from unauthorised insurers etc. Division 4A--Special provisions relating to margin lending facilities Subdivision A--Responsible lending conduct for margin lending facilities
- 985EA Application of this Subdivision
- 985E Requirements before issuing etc. margin lending facility
- 985F Assessment of unsuitability of margin lending facility
- 985G Reasonable inquiries etc. about the retail client
- 985H When margin lending facility must be assessed as unsuitable
- 985J Giving the retail client the assessment
- 985K Unsuitable margin lending facilities Subdivision B--Notice of margin calls under margin lending facilities
- 985L Issue of margin lending facility must not be conditional on agreement to receive communications through agent
- 985M Notification of margin calls Division 5--Obligations to report
- 986A Reporting in relation to money to which Subdivision A or B of Division 2 applies or property to which Division 3 applies
- 986B Reporting in relation to dealings in derivatives Division 6--Financial records, statements and audit Subdivision A--Preliminary
- 987A Application of Division Subdivision B--Financial records of financial services licensees
- 988A Obligation to keep financial records
- 988B Records to be kept so that profit and loss statements and balance sheet can be prepared and audited
- 988C Language of records
- 988D Location of records
- 988E Particular categories of information to be shown in records
- 988F Regulations may impose additional requirements
- 988G Records taken to be made with licensee's authority Subdivision C--Financial statements of financial services licensees
- 989B Financial services licensee to prepare and lodge annual profit and loss statement and balance sheet
- 989C Requirements as to contents and applicable accounting principles
- 989CA Audit to be conducted in accordance with auditing standards
- 989D Time of lodgment Subdivision D--Appointment etc. of auditors
- 990A Sections 990B to 990H not to apply to public companies
- 990B Appointment of auditor by licensee
- 990C When a person or firm is ineligible to act as auditor
- 990D Ineligible person or firm must not consent to act or disqualify themselves etc.
- 990E Duration of appointment of auditors
- 990F Removal of auditors
- 990G Resignation of auditors--requirements for resignation
- 990H Resignation of auditors--when resignation takes effect
- 990I Auditor's right of access to records, information etc.
- 990J Auditor's fees and expenses
- 990K Auditor to report on certain matters
- 990L Qualified privilege for auditor etc. Division 7--Other rules about conduct
- 991A Financial services licensee not to engage in unconscionable conduct
- 991B Financial services licensee to give priority to clients' orders
- 991C Regulations may deal with various matters relating to instructions to deal through licensed markets
- 991D Regulations may require records to be kept in relation to instructions to deal on licensed markets and foreign markets
- 991E Obligations of financial services licensee in relation to dealings with non - licensees
- 991F Dealings involving employees of financial services licensees Division 8--Miscellaneous
- 992A Prohibition on hawking of financial products
- 992AA Right of return and refund for hawked financial products
- 992B Exemptions and modifications by ASIC
- 992C Exemptions and modifications by regulations Division 9--Enforcement
- 993A Overview
- 993B Offence of failing to pay client money into an account as required
- 993C Offence of failing to comply with requirements relating to client money account
- 993D Failing to pay loan money into an account as required
PART 7.8A----DESIGN AND DISTRIBUTION REQUIREMENTS RELATING TO FINANCIAL PRODUCTS FOR RETAIL CLIENTS
Division 1--Preliminary- 994A Meaning of some terms relating to design and distribution requirements
- 994AA Meaning of financial product --Part 7.8A Division 2--Target market determinations for financial products
- 994B Target market determinations for financial products
- 994C Target market determinations to be reviewed
- 994D Prohibition on engaging in retail product distribution conduct unless target market determination made Division 3--Distribution of financial products
- 994E Reasonable steps to ensure consistency with target market determinations
- 994F Record keeping and notification obligations
- 994G Notice to ASIC Division 4--ASIC powers
- 994H Information to be provided to ASIC
- 994J Stop orders Division 5--Exemptions and modifications
- 994L Exemptions and modifications by ASIC Division 6--Miscellaneous
- 994M Civil liability
- 994N Additional powers of court to make orders
- 994P Orders to redress loss or damage suffered by non - party consumers etc.
- 994Q Kinds of orders that may be made to redress loss or damage suffered by non - party consumers etc.
CHAPTER 7--Financial services and markets
PART 7.9----FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE, SALE AND PURCHASE OF FINANCIAL PRODUCTS
Division 1--Preliminary- 1010A Part generally does not apply to securities
- 1010B Part does not apply to financial products not issued in the course of a business
- 1010BA Part does not apply to contribution plans and ESS contribution plans
- 1010C Meaning of offer , purchase and sale --Part 7.9
- 1010D General approach to offence provisions Division 2--Product Disclosure Statements Subdivision A--Preliminary
- 1011A Jurisdictional scope of Division
- 1011B Meaning of regulated person
- 1011C Treatment of offers of options over financial products Subdivision B--Requirement for a Product Disclosure Statement to be given
- 1012A Obligation to give Product Disclosure Statement--personal advice recommending particular financial product
- 1012B Obligation to give Product Disclosure Statement--situations related to issue of financial products
- 1012C Obligation to give Product Disclosure Statement--offers related to sale of financial products
- 1012D Situations in which Product Disclosure Statement is not required
- 1012DAA Rights issues for which Product Disclosure Statement is not required
- 1012DA Product Disclosure Statement not required for sale amounting to indirect issue
- 1012E Small scale offerings of managed investment and other prescribed financial products (20 issues or sales in 12 months)
- 1012F Product Disclosure Statement for certain superannuation products may be provided later
- 1012G Product Disclosure Statement may sometimes be provided later
- 1012GA Product Disclosure Statement for certain general insurance product quotes may be provided later, or is not required
- 1012H Obligation to take reasonable steps to ensure that Product Disclosure Statement is given to person electing to be covered by group financial product
- 1012I Obligation to give employer a Product Disclosure Statement in relation to certain superannuation products and RSAs
- 1012IA Treatment of arrangements under which a person can instruct another person to acquire a financial product
- 1012J Information must be up to date
- 1012K Anti - avoidance determinations Subdivision C--Preparation and content of Product Disclosure Statements
- 1013A Who must prepare Product Disclosure Statement
- 1013B Title of Product Disclosure Statement
- 1013C Product Disclosure Statement content requirements
- 1013D Product Disclosure Statement content--main requirements
- 1013DA Information about ethical considerations etc.
- 1013E General obligation to include other information that might influence a decision to acquire
- 1013F General limitations on extent to which information is required to be included
- 1013FA Information not required to be included in PDS for continuously quoted securities
- 1013G Product Disclosure Statement must be dated
- 1013GA Extra requirements if Product Disclosure Statement relates to foreign passport fund products
- 1013H Requirements if Product Disclosure Statement states or implies that financial product will be able to be traded
- 1013I Extra requirements if Product Disclosure Statement relates to managed investment products that are ED securities
- 1013IA Extra requirements if Product Disclosure Statement relates to foreign passport fund products that are ED securities
- 1013J Requirements if Statement has been lodged with ASIC
- 1013K Requirements relating to consents to certain statements
- 1013L Product Disclosure Statement may consist of 2 or more separate documents given at same time
- 1013M Combining a Product Disclosure Statement and a Financial Services Guide in a single document Subdivision D--Supplementary Product Disclosure Statements
- 1014A Meaning of Supplementary Product Disclosure Statement
- 1014B Title of Supplementary Product Disclosure Statement
- 1014C Form of Supplementary Product Disclosure Statement
- 1014D Effect of giving person a Supplementary Product Disclosure Statement
- 1014E Situation in which only a Supplementary Product Disclosure Statement need be given
- 1014F Application of other provisions in relation to Supplementary Product Disclosure Statements Subdivision DA--Replacement Product Disclosure Statements
- 1014G Application of this Subdivision--stapled securities
- 1014H Meaning of Replacement Product Disclosure Statement
- 1014J Consequences of lodging a Replacement Product Disclosure Statement
- 1014K Form, content and preparation of Replacement Product Disclosure Statements
- 1014L Giving, lodgment and notice of Replacement Product Disclosure Statements Subdivision E--Other requirements relating to Product Disclosure Statements and Supplementary Product Disclosure Statements
- 1015A Subdivision applies to Product Disclosure Statements and Supplementary Product Disclosure Statements
- 1015B Some Statements must be lodged with ASIC
- 1015C How a Statement is to be given
- 1015D Notice, retention and access requirements for Statement that does not need to be lodged
- 1015E Altering a Statement after its preparation and before giving it to a person Subdivision F--Other rights and obligations related to Product Disclosure Statements
- 1016A Provisions relating to use of application forms
- 1016B If Statement lodged with ASIC, financial product is not to be issued or sold before specified period
- 1016C Minimum subscription condition must be fulfilled before issue or sale
- 1016D Condition about ability to trade on a market must be fulfilled before issue or sale
- 1016E Choices open to person making the offer if disclosure condition not met or Product Disclosure Statement defective
- 1016F Remedies for person acquiring financial product under defective Product Disclosure Document Division 3--Other disclosure obligations of the issuer of a financial product
- 1017A Obligation to give additional information on request
- 1017B Ongoing disclosure of material changes and significant events
- 1017BA Trustees of regulated superannuation funds--obligation to make product dashboard publicly available
- 1017BB Trustees of registrable superannuation entities--obligation to make information relating to investment of assets publicly available
- 1017C Information for existing holders of superannuation products and RSAs
- 1017D Periodic statements for retail clients for financial products that have an investment component
- 1017DA Trustees of superannuation entities--regulations may specify additional obligations to provide information
- 1017E Dealing with money received for financial product before the product is issued
- 1017F Confirming transactions
- 1017G Certain product issuers and regulated persons must meet appropriate dispute resolution requirements Division 4--Advertising for financial products
- 1018A Advertising or other promotional material for financial product must refer to Product Disclosure Statement
- 1018B Prohibition on advertising personal offers covered by section 1012E Division 5--Cooling-off periods
- 1019A Situations in which this Division applies
- 1019B Cooling - off period for return of financial product Division 5A--Unsolicited offers to purchase financial products off-market
- 1019D Offers to which this Division applies
- 1019E How offers are to be made
- 1019F Prohibition on inviting offers to sell
- 1019G Duration and withdrawal of offers
- 1019H Terms of offer cannot be varied
- 1019I Contents of offer document
- 1019J Obligation to update market value
- 1019K Rights if requirements of Division not complied with Division 5B--Disclosure etc. in relation to short sales covered by securities lending arrangement of listed section 1020B products
- 1020AAA Treatment of transactions relating to section 1020B products
- 1020AA Meaning of securities lending arrangement
- 1020AB Seller disclosure
- 1020AC Licensee disclosure
- 1020AD Public disclosure of information
- 1020AE Licensee's obligation to ask seller about short sale
- 1020AF Regulations Division 5C--Information about CGS depository interests
- 1020AG Jurisdictional scope of Division
- 1020AH Meaning of CGS depository interest information website , information statement and regulated person
- 1020AI Requirement to give information statements for CGS depository interest if recommending acquisition of interest
- 1020AJ Information statement given must be up to date
- 1020AK How an information statement is to be given
- 1020AL Civil action for loss or damage Division 6--Miscellaneous
- 1020A Offers etc. relating to certain managed investment schemes not to be made in certain circumstances
- 1020BAA Offers etc. relating to foreign passport funds not to be made in certain circumstances
- 1020B Prohibition of certain short sales of securities, managed investment products, foreign passport fund products and certain other financial products
- 1020D Part cannot be contracted out of
- 1020E Stop orders by ASIC
- 1020F Exemptions and modifications by ASIC
- 1020G Exemptions and modifications by regulations Division 7--Enforcement Subdivision A--Offences
- 1021A Overview
- 1021B Meaning of defective and disclosure document or statement
- 1021C Offence of failing to give etc. a disclosure document or statement
- 1021D Offence of preparer of defective disclosure document or statement giving the document or statement knowing it to be defective
- 1021E Preparer of defective disclosure document or statement giving the document or statement (whether or not known to be defective)
- 1021F Offence of regulated person (other than preparer) giving disclosure document or statement knowing it to be defective
- 1021FA Paragraph 1012G(3)(a) obligation--offences relating to communication of information
- 1021FB Paragraph 1012G(3)(a) obligation--offences relating to information provided by product issuer for communication by another person
- 1021G Financial services licensee failing to ensure authorised representative gives etc. disclosure documents or statements as required
- 1021H Offences if a Product Disclosure Statement (or Supplementary PDS) does not comply with certain requirements
- 1021I Offence of giving disclosure document or statement that has not been prepared by the appropriate person
- 1021J Offences if preparer etc. of disclosure document or statement becomes aware that it is defective
- 1021K Offence of unauthorised alteration of Product Disclosure Statement (or Supplementary PDS)
- 1021L Offences of giving, or failing to withdraw, consent to inclusion of defective statement
- 1021M Offences relating to keeping and providing copies of Product Disclosure Statements (or Supplementary PDSs)
- 1021N Offence of failing to provide additional information requested under section 1017A
- 1021NA Offences relating to obligation to make product dashboard publicly available
- 1021NB Offences relating to obligation to make superannuation investment information publicly available
- 1021O Offences of issuer or seller of financial product failing to pay money into an account as required
- 1021P Offences relating to offers to which Division 5A applies Subdivision B--Civil liability
- 1022A Meaning of defective and disclosure document or statement
- 1022B Civil action for loss or damage
- 1022C Additional powers of court to make orders
PART 7.9A----PRODUCT INTERVENTION ORDERS
- 1023A Object
- 1023B Meaning of financial product-- Part 7.9A
- 1023C Application of product intervention orders
- 1023D ASIC may make product intervention orders
- 1023E Significant detriment to retail clients
- 1023F ASIC to consult before making product intervention orders
- 1023G Commencement and duration of product intervention orders
- 1023H Extension of product intervention orders
- 1023J Amendment of product intervention orders
- 1023K Revocation of product intervention orders
- 1023L ASIC to issue public notice of product intervention orders
- 1023M Remaking product intervention orders
- 1023N Product intervention orders may require notification
- 1023P Enforcement of product intervention orders
- 1023Q Civil liability
- 1023R Additional powers of court to make orders
- 1023S Avoidance schemes--prohibition
- 1023T Avoidance schemes--presumption of avoidance for certain schemes in civil cases
- 1023U Avoidance schemes--exemption by ASIC
PART 7.10----MARKET MISCONDUCT AND OTHER PROHIBITED CONDUCT RELATING TO FINANCIAL PRODUCTS AND FINANCIAL SERVICES
Division 1--Preliminary- 1040A Content of Part
- 1040B Treat certain instruments as if they were financial products and Division 3 financial products Division 2--The prohibited conduct (other than insider trading prohibitions)
- 1041A Market manipulation
- 1041B False trading and market rigging--creating a false or misleading appearance of active trading etc.
- 1041C False trading and market rigging--artificially maintaining etc. trading price
- 1041D Dissemination of information about illegal transactions
- 1041E False or misleading statements
- 1041F Inducing persons to deal
- 1041G Dishonest conduct
- 1041H Misleading or deceptive conduct (civil liability only)
- 1041I Civil action for loss or damage for contravention of sections 1041E to 1041H
- 1041J Sections of this Division have effect independently of each other
- 1041K Division applies to certain conduct to the exclusion of State Fair Trading Acts provisions Division 2A--Proportionate liability for misleading and deceptive conduct
- 1041L Application of Division
- 1041M Certain concurrent wrongdoers not to have benefit of apportionment
- 1041N Proportionate liability for apportionable claims
- 1041O Defendant to notify plaintiff of concurrent wrongdoer of whom defendant aware
- 1041P Contribution not recoverable from defendant
- 1041Q Subsequent actions
- 1041R Joining non - party concurrent wrongdoer in the action
- 1041S Application of Division Division 3--The insider trading prohibitions Subdivision A--Preliminary
- 1042A Meaning of some terms relating to the insider trading prohibitions
- 1042B Application of Division
- 1042C Meaning of generally available
- 1042D Meaning of material effect
- 1042E Meaning of able to be traded
- 1042F Meaning of procure
- 1042G Information in possession of officer of body corporate
- 1042H Information in possession of partner or employee of partnership Subdivision B--The prohibited conduct
- 1043A Prohibited conduct by person in possession of inside information
- 1043B Exception for withdrawal from registered scheme or notified foreign passport fund
- 1043C Exception for underwriters
- 1043D Exception for acquisition pursuant to legal requirement
- 1043E Exception for information communicated pursuant to a legal requirement
- 1043F Chinese wall arrangements by bodies corporate
- 1043G Chinese wall arrangements by partnerships etc.
- 1043H Exception for knowledge of person's own intentions or activities
- 1043I Exception for bodies corporate
- 1043J Exception for officers or agents of body corporate
- 1043K Transactions by holder of financial services licence or a representative of the holder of such a licence
- 1043L A specific situation in which a compensation order under section 1317HA may be made
- 1043M Defences to prosecution for an offence
- 1043N Relief from civil liability
- 1043O Powers of Court Division 4--Defences, relief and limits on liability
- 1044A General defence or relief for publishers
- 1044B Limit on liability for misleading or deceptive conduct Division 5--Miscellaneous
- 1045A Exemptions and modifications by regulations
PART 7.10A----EXTERNAL DISPUTE RESOLUTION
Division 1--Authorisation of an external dispute resolution scheme Subdivision A--Minister may authorise an external dispute resolution scheme- 1050 Minister may authorise an external dispute resolution scheme Subdivision B--Mandatory requirements and general considerations
- 1051 Mandatory requirements
- 1051A General considerations Division 2--Regulating the AFCA scheme
- 1052 Obligation to comply with mandatory requirements
- 1052A ASIC may issue regulatory requirements
- 1052B Directions to increase limits on the value of claims
- 1052BA Directions to ensure sufficient financing
- 1052C General directions to AFCA
- 1052D Approval of material changes to the AFCA scheme
- 1052E Referring matters to appropriate authorities Division 3--Additional provisions relating to superannuation complaints Subdivision A--When complaints relating to superannuation can be made under the AFCA scheme
- 1053 When complaints relating to superannuation can be made under the AFCA scheme
- 1053A Persons taken to be members of regulated superannuation funds, AFCA regulated superannuation schemes and approved deposit funds and holders of RSAs Subdivision B--Powers of AFCA
- 1054 Power to join other parties to superannuation complaint
- 1054A Power to obtain information and documents
- 1054B Power to require attendance at conciliation conferences
- 1054BA Power to give directions
- 1054C Reference of questions of law to Federal Court Subdivision C--Determinations of superannuation complaints
- 1055 Making a determination
- 1055A AFCA to give reasons
- 1055B Operation of determination of superannuation complaint
- 1055C Evidence of determination of superannuation complaint
- 1055D Compliance with determinations under the AFCA scheme Subdivision D--Superannuation complaints relating to payment of death benefits
- 1056 When superannuation complaint cannot be made in relation to decision about the payment of death benefit
- 1056A Joining persons to complaints relating to death benefit decisions Subdivision E--Appeals to the Federal Court
- 1057 Appeals to the Federal Court from determination of superannuation complaint
- 1057A Operation and implementation of determination that is subject to appeal
- 1057B Sending of documents to, and disclosure of documents by, the Federal Court Subdivision F--Secrecy
- 1058 Secrecy Division 4--Information sharing and reporting
- 1058A Authorised use or disclosure of information
- 1058B AFCA reporting to CSLR operator
PART 7.10B----FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT
Division 1--Establishment of the scheme- 1059 Establishment of the scheme
- 1060 Minister may authorise an operator of the scheme
- 1061 Minister may appoint independent member
- 1062 Mandatory requirements Division 2--Compensation payments under the scheme
- 1063 Compensation payments
- 1064 Eligibility for compensation payments
- 1065 Meaning of relevant AFCA determination
- 1066 Applications for compensation payments
- 1067 Amount of compensation payments
- 1068 Offer of compensation payments
- 1069 Acceptance of offer of compensation payments
- 1069A CSLR operator's right of subrogation if compensation is paid Division 3--Reimbursement of unpaid AFCA fees
- 1069B Payment of AFCA's unpaid fees
- 1069C Payment of AFCA's accumulated unpaid fees Division 4--Powers, reporting and information sharing Subdivision A--Powers of CSLR operator
- 1069D Power to obtain information and documents Subdivision B--Information sharing and reporting
- 1069E Authorised use or disclosure of information
- 1069F Reporting by CSLR operator
- 1069G Publishing reports Subdivision C--Powers of the Minister
- 1069H Ministerial determination Division 5--Regulating the CSLR operator
- 1069J Obligation to comply with mandatory requirements
- 1069K ASIC may issue regulatory requirements
- 1069L General directions to CSLR operator Division 6--Financial matters
- 1069M Costs for first levy period
- 1069N Payment to the CSLR operator of amount for the first levy period for the scheme
- 1069P Payment to the CSLR operator of amounts equal to levy
- 1069Q Application of money by CSLR operator
- 1069R Investment by CSLR operator
- 1069S Recovery of overpayments
PART 7.11----TITLE AND TRANSFER
Division 1--Title to certain securities- 1070A Nature of shares and certain other interests in a company or registered scheme
- 1070B Numbering of shares
- 1070C Matters to be specified in share certificate
- 1070D Loss or destruction of title documents for certain securities Division 2--Transfer of certain securities Subdivision A--General provisions
- 1071A Application of the Subdivision to certain securities
- 1071B Instrument of transfer
- 1071C Occupation need not appear in transfer document, register etc.
- 1071D Registration of transfer at request of transferor
- 1071E Notice of refusal to register transfer
- 1071F Remedy for refusal to register transfer or transmission
- 1071G Certification of transfers
- 1071H Duties of company with respect to issue of certificates Subdivision B--Special provisions for shares
- 1072A Transmission of shares on death (replaceable rule--see section 135)
- 1072B Transmission of shares on bankruptcy (replaceable rule--see section 135)
- 1072C Rights of trustee of estate of bankrupt shareholder
- 1072D Transmission of shares on mental incapacity (replaceable rule--see section 135)
- 1072E Trustee etc. may be registered as owner of shares
- 1072F Registration of transfers (replaceable rule--see section 135)
- 1072G Additional general discretion for directors of proprietary companies to refuse to register transfers (replaceable rule--see section 135)
- 1072H Notices relating to non - beneficial and beneficial ownership of shares Division 3--Transfer of certain securities effected otherwise than through a prescribed CS facility
- 1073A Application of the Division to certain securities
- 1073B Meaning of transfer
- 1073C Application of Division to certain bodies as if they were companies
- 1073D Regulations may govern transfer of certain securities
- 1073E ASIC may extend regulations to securities not otherwise covered
- 1073F Operation of this Division and regulations made for its purposes Division 4--Transfer of financial products effected through prescribed CS facility
- 1074A Financial products to which this Division applies
- 1074C Operating rules of prescribed CS facility may deal with transfer of title
- 1074D Valid and effective transfer if operating rules complied with
- 1074E Regulations may govern transfer of financial products in accordance with operating rules of prescribed CS facility
- 1074F Issuer protected from civil liability for person's contravention of prescribed CS facility's certificate cancellation rules
- 1074G Operation of this Division and regulations made for its purposes Division 5--Exemptions and modifications
- 1075A ASIC's power to exempt and modify
PART 7.12----MISCELLANEOUS
Division 1--Qualified privilege- 1100A Qualified privilege for information given to ASIC
- 1100B Qualified privilege for the conduct of market licensees and CS facility licensees
- 1100C Qualified privilege for information given to market licensees and CS facility licensees etc.
- 1100D Extension of protections given by this Division Division 1A--Employee share schemes Subdivision A--Introduction
- 1100E Simplified outline of this Division
- 1100F Geographical coverage of Division
- 1100G Offers and invitations both covered
- 1100H Person offering interests
- 1100J Offers may also be made in reliance on section 708 or 1012D
- 1100K Financial markets recognised under this Division Subdivision B--Key concepts
- 1100L Meaning of employee share scheme
- 1100M Meaning of ESS interest Subdivision C--Offers that are eligible to be made under this Division
- 1100N Offers that are eligible to be made under this Division
- 1100P Offers for no monetary consideration
- 1100Q Offers for monetary consideration
- 1100R Offers that would otherwise not need disclosure
- 1100S Requirements for trusts
- 1100T Meaning of ESS contribution plan
- 1100U Requirements for connected loans
- 1100V Issue cap for offers involving consideration
- 1100W Disclosure requirements for offers involving consideration
- 1100X Additional disclosure requirements for offers by unlisted bodies corporate
- 1100Y Terms of the offer--disclosure etc.
- 1100Z Terms of the offer--misleading statements and omissions
- 1100ZA Monetary cap for offers by unlisted bodies corporate
- 1100ZB Amounts that are excluded from the monetary cap Subdivision D--Making offers under this Division
- 1100ZC Making offers under this Division
- 1100ZD Regulatory relief for certain subsequent sale offers of ESS interests
- 1100ZE Dealing with money received before ESS interest is issued
- 1100ZF Dealing with money received before liquidity period
- 1100ZG Revocation of regulatory relief in certain circumstances Subdivision E--Prohibitions and defences
- 1100ZH Misstatement in, or omission from, disclosure information
- 1100ZI Misstatement in, or omission from, financial information for options and incentive rights
- 1100ZJ Obligation to inform person about deficiencies in disclosure documents Subdivision F--ASIC powers
- 1100ZK ASIC's power to make exemptions and declare modifications etc. in relation to this Division
- 1100ZL ASIC stop orders
- 1100ZM ASIC's power to request documents Division 2--Codes of conduct Subdivision A--Approved codes of conduct
- 1101A Approved codes of conduct
- 1101AA Variations to approved codes of conduct
- 1101AB Review of approved codes of conduct
- 1101AC Obligation to comply with enforceable code provisions
- 1101AD Regulations Subdivision B--Mandatory codes of conduct
- 1101AE Mandatory codes of conduct
- 1101AF Obligation to comply with mandatory code of conduct Division 3--Other matters
- 1101B Power of Court to make certain orders
- 1101C Preservation and disposal of records etc.
- 1101D Destruction of records by ASIC
- 1101E Concealing etc. of books
- 1101F Falsification of records
- 1101G Precautions against falsification of records
- 1101GA How Part 9.3 applies to books required to be kept by this Chapter etc.
- 1101H Contravention of Chapter does not generally affect validity of transactions etc.
- 1101I Gaming and wagering laws do not affect validity of contracts relating to financial products
- 1101J Delegation
CHAPTER 8--Mutual recognition of securities offers
PART 8.1----PRELIMINARY
- 1200A Meaning of some terms relating to mutual recognition of securities offers
PART 8.2----FOREIGN OFFERS THAT ARE RECOGNISED IN THIS JURISDICTION
Division 1--Recognised offers- 1200B Meaning of recognised offer
- 1200C Conditions that must be met to be a recognised offer
- 1200D Required documents and information
- 1200E Warning statement Division 2--Effect of a recognised offer
- 1200F Effect of a recognised offer Division 3--Ongoing conditions for recognised offers
- 1200G Offering conditions
- 1200H Address for service condition
- 1200J Dispute resolution condition Division 4--Modification of provisions of this Act
- 1200K Additional operation of section 675 (continuous disclosure)
- 1200L Pre - offer advertising
- 1200M Modification by the regulations Division 5--ASIC's powers in relation to recognised offers
- 1200N Stop orders
- 1200P Ban on making subsequent recognised offers
- 1200Q Offence of breaching an ongoing condition Division 6--Miscellaneous
- 1200R Service of documents
PART 8.3----OFFERS MADE UNDER FOREIGN RECOGNITION SCHEMES
- 1200S Notice to ASIC
- 1200T Extension of this Act to recognised jurisdictions
- 1200U ASIC stop order for advertising in a recognised jurisdiction
CHAPTER 8A--Asia Region Funds Passport
PART 8A.1----PRELIMINARY
- 1210 Meaning of participating economy
- 1210A List of participating economies
- 1210B Minister may determine that funds not to offer interests in this jurisdiction
PART 8A.2----PASSPORT RULES
- 1211 Minister may make Passport Rules for this jurisdiction
- 1211A Meaning of Passport Rules
- 1211B Compliance with the Passport Rules
PART 8A.3----AUSTRALIAN PASSPORT FUNDS
- 1212 Application for registration
- 1212A Registration of Australian passport funds
- 1212B All documents etc. lodged with ASIC to bear APFRN
- 1212C Notifying ASIC if offering interests in another participating economy in another name
PART 8A.4----NOTIFIED FOREIGN PASSPORT FUNDS
Division 1--Becoming a notified foreign passport fund- 1213 Notice of intention to offer interests in a foreign passport fund
- 1213A ASIC may notify operator that notice of intention lacks information required
- 1213B Rejecting a notice of intention
- 1213C Notified foreign passport funds--authority to offer interests in this jurisdiction
- 1213D Meaning of consideration period Division 2--Treatment of notified foreign passport funds
- 1213E Notified foreign passport funds to be treated as managed investment schemes
- 1213F Operators and notified foreign passport funds not to be treated as companies etc.
- 1213G Offences relating to the operation of notified foreign passport funds Division 3--Conduct of notified foreign passport funds in this jurisdiction
- 1213H Notified foreign passport funds must not issue debentures in this jurisdiction Division 4--Providing key information in relation to notified foreign passport funds Subdivision A--Obligations to provide information to members in this jurisdiction
- 1213J Constitution--right to obtain a copy
- 1213K Register of members--right to obtain a copy
- 1213L Use of information on register of members
- 1213M Reports required under the law of the home economy
- 1213N Order for copies of books of a notified foreign passport fund Subdivision B--Obligations to provide information to ASIC
- 1213P Register of members--ASIC may require lodgment
- 1213Q Destruction of records by ASIC
PART 8A.5----REGISTER OF PASSPORT FUNDS
PART 8A.6----STOP ORDERS
- 1215 Stop order--Australian passport funds
- 1215A Stop order--notified foreign passport fund
- 1215B Interim stop orders
- 1215C Revocation of stop order made under section 1215 or 1215A
- 1215D Compliance with stop orders
PART 8A.7----DEREGISTRATION AND DENOTIFICATION
Division 1--Deregistration of Australian passport funds Subdivision A--Voluntary deregistration- 1216 Application to deregister
- 1216A ASIC to deregister
- 1216B When is there an expectation that a fund would become an Australian passport fund? Subdivision B--Deregistration initiated by ASIC
- 1216C Deregistration--initiated by ASIC Subdivision C--Process for deregistration
- 1216D Process for deregistration Division 2--Denotification of notified foreign passport funds Subdivision A--Voluntary denotification
- 1216E Application to be removed as a notified foreign passport fund
- 1216F ASIC to remove fund as a notified foreign passport fund
- 1216G When is there an expectation that a fund would become a notified foreign passport fund? Subdivision B--Notified foreign passport fund deregistered in the fund's home economy
- 1216H ASIC to remove a fund as a notified foreign passport fund Subdivision C--Process for removal as a notified foreign passport fund
- 1216J Process for removal as a notified foreign passport fund Division 3--Continued application of the Corporations legislation
- 1216K ASIC's power to continue the application of the Corporations legislation
- 1216L Regulations may continue the application of the Corporations legislation
PART 8A.8----EXEMPTIONS AND MODIFICATIONS
- 1217 ASIC's power to make exemptions and declare modifications etc. in relation to this Chapter
- 1217A ASIC's power to make exemptions and declare modifications etc. in relation to the Passport Rules
- 1217B Exemptions and modification by regulations
CHAPTER 8B--Corporate collective investment vehicles
PART 8B.1----PRELIMINARY
- 1221 Objects of this Chapter
PART 8B.2----REGISTRATION OF CCIVS
Division 1--Registering a CCIV Subdivision A--Requirements for registration as a CCIV- 1222 Requirements for registration as a CCIV Subdivision B--How a CCIV is registered
- 1222A Applying for registration
- 1222B No other way to register a CCIV
- 1222C Registration of a CCIV
- 1222D Corporate director and members of a CCIV Subdivision C--Names of CCIVs
- 1222E Special requirements for naming of CCIVs
- 1222F Special requirements for acceptable abbreviations of CCIV names
- 1222G Carrying on business using "CCIV" in name
- 1222H Change of name not allowed while sub - fund in liquidation Subdivision D--Retail CCIVs and wholesale CCIVs
- 1222J Meaning of retail CCIV and wholesale CCIV
- 1222K Retail CCIV test
- 1222L Notifying ASIC of status as a retail CCIV or wholesale CCIV
- 1222M Table of provisions that apply only to retail CCIVs Subdivision E--Listing not permitted for certain CCIVs and sub-funds
- 1222N Certain CCIVs and sub - funds must not be listed Subdivision F--Changing company type not permitted
- 1222P Part 2B.7 does not apply to a CCIV Division 2--Registering a sub-fund of a CCIV Subdivision A--What is a sub-fund of a CCIV
- 1222Q What is a sub - fund of a CCIV Subdivision B--How a sub-fund of a CCIV is registered
- 1222R Initial sub - funds to be registered when the CCIV is registered
- 1222S Registration of a sub - fund
- 1222T Sub - fund is established on registration
- 1222U Application to register further sub - funds Subdivision C--Names of sub-funds
- 1222V A sub - fund's name
- 1222W Using sub - fund name and ARFN on documents
- 1222X Acceptable abbreviations of sub - fund names
- 1222Y Sub - fund changing its name
- 1222Z ASIC's power to direct CCIV to change a sub - fund's name
- 1222ZA Effect of name change Division 3--Registers
- 1222ZB Registers relating to CCIVs
PART 8B.3----CORPORATE GOVERNANCE OF CCIVS
Division 1--Governance rules Subdivision A--How a CCIV exercises company powers- 1223 Execution of documents (including deeds) by the CCIV itself Subdivision B--Constitution
- 1223A Replaceable rules do not apply to a CCIV
- 1223B Requirement for a CCIV to have a constitution
- 1223C Retail CCIV--ASIC may direct CCIV to modify its constitution
- 1223D Adoption, modification and repeal of constitution
- 1223E Effect of constitution Subdivision C--Minimum content requirements for the constitution of a CCIV
- 1223F Wholesale CCIV--Basic content requirement
- 1223G Retail CCIV--Basic content requirements
- 1223H Retail CCIV--Additional content requirement for redemption of shares Division 2--Officers and employees of the CCIV Subdivision A--Officers and employees generally
- 1224 A CCIV has a single corporate director
- 1224A A CCIV has no secretary and no employees
- 1224B Meaning of officer of a CCIV
- 1224C General duties owed by officers
- 1224D Duties owed by director
- 1224E Certain provisions in Chapter 2D do not apply to CCIVs Subdivision B--The corporate director of a CCIV
- 1224F Who can be the director of a CCIV
- 1224G Retail CCIV--additional rules about who can be the director
- 1224H Effectiveness of acts by corporate director
- 1224J Corporate director must operate the CCIV
- 1224K Corporate director not required to disclose material personal interest
- 1224L Corporate director may appoint an agent or engage a person
- 1224M Retail CCIV--responsibility of corporate director for certain acts of agents
- 1224N Retail CCIV--limitation on right of corporate director to fees and indemnities
- 1224P Retail CCIV--limitation on right of corporate director to acquire shares in CCIV
- 1224Q Exercise of powers while sub - fund is in liquidation Subdivision C--Replacing the corporate director
- 1224R Changes only take effect when ASIC alters record of registration
- 1224S CCIV does not have an eligible corporate director
- 1224T Retirement of corporate director
- 1224U Replacement of corporate director by members
- 1224V Appointment of temporary corporate director by Court
- 1224W Temporary corporate director to initiate appointment of permanent corporate director
- 1224X Temporary corporate director fails to initiate appointment of permanent corporate director
- 1224Y Members fail to appoint permanent corporate director
- 1224Z Former corporate director to hand over books and provide reasonable assistance
- 1224ZA Rights, obligations and liabilities of former corporate director
- 1224ZB Effect of change of corporate director on documents etc. to which former corporate director is party Subdivision D--Termination payments
- 1224ZC Member approval not needed for benefit specified in constitution
- 1224ZD Modified member approval for CCIVs
- 1224ZE Benefits paid to corporate director not covered by exemptions Division 3--Officers, employees and auditors of the corporate director Subdivision A--Officers and auditors of the corporate director
- 1225 Retail CCIV--duties owed by officers of corporate director
- 1225A Responsibility of secretary of corporate director for certain contraventions by CCIV
- 1225B Responsibility of secretary of corporate director for certain contraventions by corporate director
- 1225C Extended obligation of directors of corporate director
- 1225D Right of access to CCIV books
- 1225E Extended operation of sections 199A and 199B (about indemnities and insurance) Subdivision B--Employees of the corporate director
- 1225F Retail CCIV--duties owed by employees of corporate director Division 4--Compliance plan for retail CCIVs Subdivision A--Documenting the compliance plan
- 1226 Requirement for compliance plan
- 1226A Contents of the compliance plan
- 1226B Compliance plan may incorporate provisions from another CCIV's plan
- 1226C ASIC may require further information about compliance plan
- 1226D Changing the compliance plan
- 1226E ASIC may require consolidation of compliance plan to be lodged Subdivision B--Auditing the compliance plan
- 1226F Engaging auditor
- 1226G Audit and audit report
- 1226H Contraventions by auditor
- 1226J Removal and resignation of auditors
- 1226K Action on change of auditor of compliance plan Division 5--Member protection Subdivision A--Related party transactions by retail CCIVs to be approved at sub-fund level
- 1227 Application of Chapter 2E to retail CCIVs
- 1227A Need for member approval for financial benefit
- 1227B Exceptions not available for a retail CCIV
- 1227C Requirements for explanatory statement to members
- 1227D Modified references
- 1227E Related parties of a CCIV Subdivision B--Rights and remedies of members of a CCIV
- 1227F Grounds for Court order
- 1227G Orders the Court can make
- 1227H Applying for and granting leave
- 1227J Varying and cancelling class rights
- 1227K Certain actions taken to vary rights etc.
- 1227L Company must lodge documents and resolutions with ASIC Subdivision C--Civil liability of corporate director to members
- 1227M Civil liability of corporate director to members Division 6--Meetings Subdivision A--Directors' meetings
- 1228 Resolutions of CCIVs Subdivision B--Meetings of members of CCIVs or sub-funds
- 1228A Meetings of members of CCIVs
- 1228B Meetings of members of sub - funds
- 1228C Auditors of scheme compliance plans
- 1228D Copy of the register of members--sub - funds
- 1228E Members' resolutions
- 1228F Voting at meetings of members
- 1228G Corporate director and associates cannot vote if interested in resolution
- 1228H How to work out the value of a share Division 7--Corporate contraventions Subdivision A--General provisions relating to establishing civil and criminal liability under Commonwealth laws
- 1229 Application of this Subdivision
- 1229A Other rules for corporate contraventions do not apply
- 1229B General rule for attributing conduct and state of mind to a CCIV
- 1229C Exceptions etc. specific to this Act Subdivision B--Consequences of contraventions of Commonwealth laws
- 1229D Corporate director generally taken to commit offences committed by CCIV
- 1229E Corporate director generally liable for civil penalties for which the CCIV would be liable Subdivision C--Consequences of contraventions of State and Territory laws
- 1229F Compensation orders--State and Territory laws
- 1229G Time limit for application for compensation order
- 1229H Civil evidence and procedure rules for compensation orders
PART 8B.4----CORPORATE FINANCE AND FINANCIAL REPORTING FOR CCIVS
Division 1--Shares Subdivision A--Issuing and converting shares in a CCIV- 1230 Shares can only be issued in respect of sub - funds
- 1230A Minimum of one class of shares per sub - fund
- 1230B Power to issue redeemable shares
- 1230C Conversion of shares Subdivision B--Redemption of shares
- 1230D Redemptions to which this Subdivision applies
- 1230E Redeemed shares to be cancelled
- 1230F Requirements for redemptions by all CCIVs
- 1230G Further requirements for redemptions by retail CCIVs
- 1230H When a sub - fund is liquid
- 1230J Redemption offers for non - liquid sub - funds of retail CCIVs
- 1230K Satisfying redemption requests for non - liquid sub - funds of retail CCIVs Subdivision C--Partly-paid shares
- 1230L Section 254N does not apply to a CCIV Subdivision D--Dividends
- 1230M Circumstances in which a dividend may be paid
- 1230N Dividend rights Subdivision E--Notice requirements
- 1230P Part 2H.6 does not apply to a CCIV Subdivision F--Cross-investment between sub-funds of a CCIV
- 1230Q Cross - investment between sub - funds is permitted
- 1230R Requirements or restrictions for cross - investment
- 1230S Consequences for failing to comply with requirements or restrictions for cross - investment
- 1230T Requirements or restrictions on membership rights for shares acquired from cross - investment
- 1230U Cross - investment between sub - funds is not a share buy - back
- 1230V General duties still apply for cross - investment between sub - funds Division 2--Transactions affecting share capital Subdivision A--Reductions in share capital and share buy-backs
- 1231 Purpose
- 1231A CCIV may make reduction not otherwise authorised
- 1231B Consequences of making an unauthorised reduction
- 1231C A CCIV's power to buy back its own shares
- 1231D Authorised reductions--share redemptions
- 1231E Authorised reductions--regulations
- 1231F Authorised reductions--Court orders
- 1231G Authorised reductions--return of financial product
- 1231H Other share capital reductions Subdivision B--Self-acquisition and control of shares
- 1231J Directly acquiring own shares
- 1231K Taking security over own shares Subdivision C--Financial assistance
- 1231L Part 2J.3 does not apply to a CCIV Subdivision D--Interaction with other duties
- 1231M Other duties still apply Division 3--Debentures
- 1231N Debentures can only be issued in respect of sub - funds
- 1231P Modified operation of section 283AA Division 4--Financial reports and audit of CCIVs Subdivision A--Application of Chapter 2M to CCIVs and their sub-funds
- 1232 Application of Chapter 2M to CCIVs Subdivision B--Financial records (all CCIVs)
- 1232A Obligation to keep financial records for sub - funds
- 1232B Access to financial records of CCIVs and sub - funds Subdivision C--Financial reporting (retail CCIVs only)
- 1232C Annual financial reports and directors' reports for sub - funds--general rules
- 1232D Annual financial reports and directors' reports for sub - funds--special rules for financial reports
- 1232E Annual financial reports and directors' reports for sub - funds--special rules for directors' reports
- 1232F Half - year financial reports and directors' reports for sub - funds with ED securities on issue
- 1232G Audit and auditor's report for sub - funds Subdivision D--Annual financial reporting to members (retail CCIVs only)
- 1232H Annual financial reporting to members of sub - funds
- 1232J Deadline for reporting to members of sub - funds
- 1232K Consideration of reports at AGM
- 1232L Additional reporting by CCIVs that are debenture issuers Subdivision E--Lodging reports with ASIC (retail CCIVs only)
- 1232M Relodgement if financial statements or directors' reports relating to sub - fund amended after lodgement Subdivision F--Appointment and removal of auditors (retail CCIVs only)
- 1232N Conflict of interest situation
- 1232P Auditor independence--specific requirements
- 1232Q People who are regarded as officers of a CCIV
- 1232R Appointment, removal and fees of auditors for CCIVs
- 1232S Effect of winding up of sub - fund on office of auditor Subdivision G--Sanctions for contravention of Chapter 2M
- 1232T Extended liability of directors of the corporate director for contraventions of Chapter 2M Division 5--Updating ASIC information about CCIVs
- 1232U Solvency resolutions
PART 8B.5----OPERATING A CCIV
Division 1--Preliminary- 1233 Meaning of property
- 1233A References to liabilities of a CCIV Division 2--Requirement to operate sub-funds as separate businesses
- 1233B Sub - funds to be operated as separate businesses Division 3--Requirement for assets and liabilities to be allocated between sub-funds Subdivision A--The CCIV's allocation register
- 1233C Corporate director to keep allocation register
- 1233D Requirement to enter assets on the allocation register
- 1233E Requirement to enter liabilities on the allocation register
- 1233F Liquidator may require corporate director to record debt, claim or property in allocation register
- 1233G Requirement to retain records of allocations for 7 years Subdivision B--What are the assets of a particular sub-fund
- 1233H Meaning of assets --sub - fund of a CCIV
- 1233J When an allocation determination is required
- 1233K When property must be converted into money etc. Subdivision C--What are the liabilities of a particular sub-fund
- 1233L Meaning of liabilities --sub - fund of a CCIV
- 1233M When an allocation determination is required
- 1233N Variations of proportional allocation of liabilities
- 1233P Creditor may require corporate director to provide information about allocation Subdivision D--Orders the Court can make
- 1233Q Orders the Court can make in relation to assets and liabilities of sub - funds Division 4--Purposes for which sub-fund assets may be applied
- 1234 Unallocated money and property may not be applied for any purpose
- 1234A Requirement for segregated application of assets of sub - funds
- 1234B Purposes for which sub - fund assets may be applied
- 1234C Property that is required to be converted to be applied only for that purpose
- 1234D Requirement for security interests to be segregated
- 1234E Court orders
- 1234F Consequences of non - compliant application of assets Division 5--How CCIV assets must be held
- 1234G Who may hold the assets of a CCIV
- 1234H Person other than CCIV holds money or property on trust
- 1234J How CCIV money and property must be held
- 1234K Regulations may create exceptions
PART 8B.6----EXTERNAL ADMINISTRATION AND DEREGISTRATION
Division 1--Preliminary- 1235 Construing terms and expressions affected by substituted references Division 2--Arrangements and reconstructions of sub-funds
- 1235A Object of this Division
- 1235B Compromises etc. not to be made between 2 or more sub - funds
- 1235C Applying arrangements and reconstructions provisions to sub - funds
- 1235D Persons not to be appointed to administer compromise or arrangement
- 1235E Provisions for facilitating reconstruction and amalgamation of sub - funds within a CCIV
- 1235F Court may make order in relation to assets and liabilities of sub - funds Division 3--Receivers, and other controllers, of property of sub-funds Subdivision A--Preliminary
- 1236 Object of this Division
- 1236A Meaning of property and receiver --sub - fund of a CCIV Subdivision B--Appointment of controllers
- 1236B Appointment of a controller of property of a sub - fund of a CCIV
- 1236C Persons not to act as receivers
- 1236D Notifying of appointment or cessation of controller Subdivision C--Application of Part 5.2 to control of property of sub-funds
- 1236E Applying Part 5.2 etc. to sub - funds Subdivision D--Modified duties and powers of receivers etc.
- 1236F Liability of controller
- 1236G Powers of receiver
- 1236H Controller may require reports relating to other sub - funds if necessary
- 1236J Controller may inspect books of CCIV Subdivision E--Other modifications
- 1236K Application of sub - fund property to meet certain priority payments
- 1236L Transfer of books to ASIC etc. Division 4--Administration and restructuring
- 1236M Part 5.3A does not apply to a CCIV
- 1236N Part 5.3B does not apply to a CCIV Division 5--Winding up of sub-funds Subdivision A--Preliminary
- 1237 Object of this Division
- 1237A No winding up of a CCIV Subdivision B--Application of winding up provisions to winding up of sub-funds
- 1237B Applying winding up provisions to sub - funds
- 1237C References to debts etc. of a sub - fund Subdivision C--Winding up of a sub-fund in insolvency
- 1237D When a sub - fund is presumed to be insolvent
- 1237E Statutory demand--creditor may serve demand on CCIV
- 1237F Statutory demand--CCIV may apply to set aside demand
- 1237G Statutory demand--determining application to set aside where there is a dispute or offsetting claim
- 1237H Statutory demand--determining application to set aside where there is a dispute about the sub - fund
- 1237J Substitution of sub - fund where statutory demand not relied on
- 1237K Declaration of solvency Subdivision D--Modified duties and powers of liquidator of a sub-fund
- 1237L Disqualification of liquidator
- 1237M Notifying of appointment, resignation or removal of liquidator
- 1237N Duties and powers of liquidator
- 1237P Retention and destruction of books Subdivision E--Modified duties and powers of officers of corporate director and CCIV
- 1237Q Officers of corporate director to help liquidator
- 1237R Corporate director may retain certain books
- 1237S Corporate director may access certain books
- 1237T Corporate director may direct ASIC not to destroy books
- 1237U Mandatory examination
- 1237V Court may make order imposing liability on unlicensed person operating CCIV Subdivision F--Proof and ranking of claims
- 1237W Liquidator must be satisfied debt or claim is a liability of the sub - fund
- 1237X Determination of debts and claims that relate to the business of 2 or more sub - funds and are of uncertain value
- 1237Y Application of sub - fund property Subdivision G--Powers of Courts
- 1237Z Warrant in relation to books Subdivision H--Recovering property
- 1237ZA Presumptions to be made in recovery proceedings
- 1237ZB Directors of the corporate director
- 1237ZC Vesting of PPSA security interests if collateral not registered within time Division 6--Recovering property of sub-funds
- 1238 Duties owed by directors of corporate director of a CCIV
- 1238A Applying property recovery provisions to CCIVs
- 1238B References to incurring debts
- 1238C When debts arise in relation to redeemable shares Division 7--External administration offences
- 1238D Applying external administration offences to CCIVs
- 1238E Interpretation of ceased to carry on business
- 1238F Frauds by officers Division 8--Miscellaneous
- 1238G Applying external administration miscellaneous provisions to sub - funds Division 9--Deregistration and transfer of registration Subdivision A--Deregistration
- 1239 Deregistration of a sub - fund--voluntary
- 1239A Deregistration of a sub - fund--ASIC initiated
- 1239B Process for ASIC initiated deregistration of a sub - fund
- 1239C Deregistration of a sub - fund--following amalgamation or winding up
- 1239D Effect of deregistration of a sub - fund
- 1239E The Commonwealth's and ASIC's power to fulfil outstanding obligations in relation to deregistered sub - fund
- 1239F Claims against insurers in relation to deregistered sub - fund
- 1239G Reinstatement of a sub - fund
- 1239H CCIV reinstated following reinstatement of a sub - fund
- 1239J Notices relating to reinstatement of a sub - fund
- 1239K Deregistration of a CCIV
- 1239L Books of the CCIV to be kept by former corporate director
- 1239M A CCIV may not be reinstated under section 601AH Subdivision B--Transfer of registration
- 1239N Registration of CCIV cannot be transferred
PART 8B.7----CONTROL, FINANCIAL SERVICES AND DISCLOSURE
Division 1--Takeovers, compulsory acquisitions and buy-outs- 1240A Takeovers--prohibition on acquisitions of shares in a listed CCIV
- 1240B Takeovers--directors of the corporate director of a listed CCIV
- 1240C Takeovers--bidder's statement content
- 1240D Takeovers Panel--declaration of unacceptable circumstances may only be made in relation to a listed CCIV
- 1240E Compulsory acquisition--only available for securities in a listed CCIV Division 2--Continuous disclosure
- 1240F Continuous disclosure--CCIVs Division 3--Fundraising
- 1240G Fundraising rules do not apply to CCIVs
- 1240H Offering securities of a CCIV or sub - fund that does not exist Division 4--Financial services and markets
- 1241 Application of Chapter 7 to CCIVs
- 1241A For Chapter 7, treat the corporate director as providing financial services etc. being provided by the CCIV
- 1241B Certain licensing concepts do not apply to CCIVs
- 1241C Extra kinds of financial services relating to CCIVs
- 1241D CCIV buy - back or redemption facility does not make a market
- 1241E Certain conduct relating to CCIVs is not providing a custodial or depository service
- 1241F Australian financial services licences
- 1241G Immediate suspensions or cancellations of licences
- 1241H Restriction on use of certain words or expressions
- 1241J Agreements with certain unlicensed persons
- 1241K Treat the CCIV as a professional investor
- 1241L Financial services disclosure does not apply to operating the business and conducting the affairs of CCIVs
- 1241M Financial records of the corporate director of a CCIV
- 1241N Prohibition on hawking of securities in a CCIV
- 1241P Modifications of Part 7.8A
- 1241Q Part 7.9 applies to the issue or sale of securities in a CCIV
- 1241R Product Disclosure Statements--when a security in a CCIV is of the same kind as another product
- 1241S Product Disclosure Statements--situations when not required for CCIVs
- 1241T Product Disclosure Statements--content requirements
- 1241U Product Disclosure Statements--replacement statements
- 1241V Product Disclosure Statements--lodging with ASIC
- 1241W Product Disclosure Statements--use of application forms
- 1241X Product Disclosure Statements--if lodged, then security not to be issued or sold before specified period
- 1241Y Remedies for person acquiring financial product under defective Product Disclosure Document
- 1241Z Disclosure obligations of issuers of securities in CCIVs
- 1241ZA Cooling - off periods
- 1241ZB Unsolicited offers to purchase securities in CCIVs off - market
- 1241ZC Product intervention orders
- 1241ZD Insider trading--exceptions
PART 8B.8----MISCELLANEOUS
- 1242 Director identification numbers
- 1242A Registers
- 1242B Inspection of books
- 1242C Falsification of books
- 1242D Application of Part 9.4
- 1242E Disclosures qualifying for protection under Part 9.4AAA
- 1242F Powers of Courts--irregularities
- 1242G Fees payable to the Commonwealth
PART 8B.9----SUBORDINATE LEGISLATION RELATING TO CCIVS
CHAPTER 9--Miscellaneous
PART 9.1A----DIRECTOR IDENTIFICATION NUMBERS
- 1272 Giving and cancelling director identification numbers
- 1272A Applying for a director identification number
- 1272B Meaning of eligible officer
- 1272C Requirement to have a director identification number
- 1272D Requirement to apply for a director identification number
- 1272E Registrar may extend application periods
- 1272F Infringement notices
- 1272G Applying for additional director identification numbers
- 1272H Misrepresenting director identification numbers
PART 9.1----MATTERS RELATING TO HANDLING RECORDS AND INFORMATION
Division 1--The Registrar Subdivision A--Appointment etc. of the Registrar- 1270 Appointment of the Registrar
- 1270A Functions
- 1270B Powers
- 1270C Directions by Minister
- 1270D Delegation
- 1270E Assisted decision making
- 1270F Liability for damages Subdivision B--How the Registrar is to perform and exercise functions and powers
- 1270G Data standards
- 1270H Giving information to the Registrar
- 1270J How the Registrar is to perform and exercise functions and powers Subdivision C--Disclosure of information
- 1270K Disclosure framework
- 1270L Protection of confidentiality of protected information
- 1270M Authorisation of recording or disclosure
- 1270N Preventing disclosure of particular protected information
- 1270P Authorisation for purposes of Privacy Act
- 1270Q Disclosure to a court Subdivision D--Miscellaneous
- 1270R Extracts of information to be admissible in evidence
- 1270S Annual report
- 1270T Rules Division 2--Registers kept by ASIC
- 1274 Registers Division 3--Miscellaneous
- 1274AA Register of disqualified company directors and other officers
- 1274A Obtaining information from certain registers
- 1274B Use, in court proceedings, of information from ASIC's national database
- 1274C ASIC certificate
- 1275 Relodging of lost registered documents
PART 9.2----REGISTRATION OF AUDITORS
Division 2--Registration- 1279 Application for registration as auditor
- 1280 Registration of auditors
- 1280A Approval of auditing competency standard
- 1281 Auditor - General taken to be registered as auditor
- 1285 Register of Auditors
- 1287 Notification of certain matters
- 1287A Annual statements by registered company auditors
- 1289 Auditors and other persons to enjoy qualified privilege in certain circumstances Division 2A--Conditions on registration of auditors
- 1289A ASIC may impose conditions on registration Division 3--Cancellation or suspension of registration
- 1290 Cancellation at request of registered person
- 1291 Immediate suspension or cancellation
- 1291A Notice of suspension or cancellation
- 1291B ASIC may vary or revoke suspension
- 1292 Powers of Board in relation to auditors
- 1294 Board to give opportunity for hearing etc.
- 1294A Pre - hearing conference
- 1295 Board may remove suspension
- 1296 Notice of Board's decision
- 1297 Time when Board's decision comes into effect
- 1298 Effect of suspension Division 4--Validation of approval of auditing competency standard
- 1298P Validation of approval of auditing competency standard
- 1298Q Compensation for acquisition of property
PART 9.2A----AUTHORISED AUDIT COMPANIES
Division 1--Registration- 1299A Application for registration as authorised audit company
- 1299B Eligibility for registration as an authorised audit company
- 1299C Registration as authorised audit company
- 1299D Registration may be subject to conditions
- 1299E Register of authorised audit companies
- 1299F Notification of certain matters
- 1299G Annual statements by authorised audit company Division 2--Cancellation or suspension of registration
- 1299H Cancellation at request of registered person
- 1299I Cancellation or suspension in other cases
- 1299J Notice of cancellation or suspension
- 1299K Time when ASIC's decision comes into effect
- 1299L Effect of suspension
- 1299M Effect of cancellation
PART 9.3----BOOKS
- 1300 Inspection of books
- 1301 Location of books on computers
- 1303 Court may compel compliance
- 1304 Translations of instruments
- 1305 Admissibility of books in evidence
- 1306 Form and evidentiary value of books
- 1307 Falsification of books
PART 9.4----OFFENCES
Division 1A--Application of the Criminal Code- 1308A Application of Criminal Code Division 1--Specific offences
- 1308B False or misleading statements about share capital
- 1308 False or misleading documents
- 1309 False information etc.
- 1310 Obstructing or hindering ASIC etc. Division 2--Offences generally
- 1311 General penalty provisions
- 1311A Penalty for committing an offence
- 1311B Penalty applicable to an offence committed by an individual
- 1311C Penalty applicable to an offence committed by a body corporate
- 1311D Meaning of benefit derived and detriment avoided --offence
- 1311E Where is the penalty for an offence specified?
- 1311F If no penalty is specified
- 1313A Offences committed partly in and partly out of the jurisdiction
- 1314 Continuing offences
- 1315 Proceedings: how taken
- 1316 Time for instituting criminal proceedings
- 1316A Privilege against self - incrimination not available to bodies corporate in Corporations Act criminal proceedings
- 1317 Certain persons to assist in prosecutions
PART 9.4AAA----PROTECTION FOR WHISTLEBLOWERS
- 1317AA Disclosures qualifying for protection under this Part
- 1317AAA Meaning of eligible whistleblower
- 1317AAB Meaning of regulated entity
- 1317AAC Meaning of eligible recipient
- 1317AAD Public interest disclosure and emergency disclosure
- 1317AADA Personal work - related grievances
- 1317AAE Confidentiality of whistleblower's identity
- 1317AB Disclosure that qualifies for protection not actionable etc.
- 1317AC Victimisation prohibited
- 1317AD Compensation and other remedies--circumstances in which an order may be made
- 1317ADA Meaning of detriment
- 1317AE Compensation and other remedies--orders that may be made
- 1317AF Interaction between civil proceedings, civil penalties and criminal offences
- 1317AG Identifying information not to be disclosed etc. to courts or tribunals
- 1317AH Costs only if proceedings instituted vexatiously etc.
- 1317AI Whistleblower policies
- 1317AJ Exemption orders--class orders for companies
- 1317AK Review of operation of whistleblower protections
PART 9.4A----REVIEW BY ADMINISTRATIVE APPEALS TRIBUNAL OF CERTAIN DECISIONS
- 1317A Definitions
- 1317B Applications for review
- 1317C Excluded decisions
- 1317D Notice of reviewable decision and review rights
PART 9.4AA----INFRINGEMENT NOTICES FOR ALLEGED CONTRAVENTIONS OF CONTINUOUS DISCLOSURE PROVISIONS
- 1317DAAA Meaning of compensation proceedings
- 1317DAA Application of this Part to disclosing entities
- 1317DAB Purpose and effect of this Part
- 1317DAC Issue of infringement notice
- 1317DAD Statement of reasons must be given
- 1317DAE Matters to be included in infringement notice
- 1317DAF Effect of issue and compliance with infringement notice
- 1317DAG Effect of failure to comply with infringement notice
- 1317DAH Meaning of compliance period
- 1317DAI Withdrawal of infringement notice
- 1317DAJ Publication in relation to infringement notices
PART 9.4AB----INFRINGEMENT NOTICES FOR OTHER ALLEGED CONTRAVENTIONS
Division 1--General- 1317DAM When an infringement notice may be given
- 1317DAN Provisions subject to an infringement notice
- 1317DAP Matters to be included in an infringement notice
- 1317DAPA Giving infringement notices in relation to restricted civil penalty provisions Division 2--Infringement notices given by ASIC
- 1317DAPB Application of Division
- 1317DAQ Payment period
- 1317DAR Extension of time to pay amount
- 1317DAS Payment by instalments
- 1317DAT Withdrawal of an infringement notice Division 3--Infringement notices given by Financial Services and Credit Panels
- 1317DATA Application of Division
- 1317DATB Payment period, extension of time and payment by instalments
- 1317DATC Withdrawal of an infringement notice given by a Financial Services and Credit Panel Division 4--Other matters
- 1317DAU Effect of payment of amount
- 1317DAV Effect of this Part
PART 9.4B----CIVIL CONSEQUENCES OF CONTRAVENING CIVIL PENALTY PROVISIONS
Division 1--The Court may make declarations of contravention, pecuniary penalty orders, relinquishment orders, refund orders and compensation orders- 1317E Declaration of contravention of a civil penalty provision
- 1317F Declaration of contravention is conclusive evidence
- 1317G Pecuniary penalty orders
- 1317GAA Civil enforcement of pecuniary penalty order
- 1317GAB Relinquishing the benefit derived and detriment avoided from contravening a civil penalty provision
- 1317GAC Civil enforcement of relinquishment order
- 1317GAD Meaning of benefit derived and detriment avoided --civil penalty provision
- 1317GA Refund orders--contravention of section 962P
- 1317GB Refund orders--contraventions of section 962R or 962S
- 1317H Compensation orders--corporation/scheme civil penalty provisions
- 1317HA Compensation orders--financial services civil penalty provisions
- 1317HB Compensation orders--market integrity rules and client money reporting rules
- 1317HC Compensation orders--financial benchmark rules or compelled financial benchmark rules
- 1317HE Compensation orders--Passport Rules Division 2--Procedural and other matters relating to orders by the Court
- 1317J Who may apply for a declaration or order
- 1317K Time limit for application for a declaration or order
- 1317L Civil evidence and procedure rules for declarations of contravention and civil penalty orders
- 1317M Civil proceedings after criminal proceedings
- 1317N Criminal proceedings during civil proceedings
- 1317P Criminal proceedings after civil proceedings
- 1317Q Evidence given in proceedings for penalty not admissible in criminal proceedings
- 1317QA Continuing contraventions of civil penalty provisions
- 1317QB State of mind
- 1317QC Mistake of fact
- 1317QD Exceptions etc. to civil penalty provisions--burden of proof
- 1317QE Civil penalty provisions contravened by employees, agents or officers
- 1317QF Preference must be given to compensate persons who suffer damage as a result of contravention
- 1317R ASIC requiring person to assist
- 1317S Relief from liability for contravention of civil penalty provision
PART 9.5----POWERS OF COURTS
- 1318 Power to grant relief
- 1319 Power of Court to give directions with respect to meetings ordered by the Court
- 1322 Irregularities
- 1323 Power of Court to prohibit payment or transfer of money, financial products or other property
- 1324 Injunctions
- 1324A Provisions relating to prosecutions
- 1324B Order to disclose information or publish advertisements
- 1325 Other orders
- 1325A Orders if contravention of Chapter 6, 6A, 6B or 6C
- 1325B Court may order bidder to make offers
- 1325C Unfair or unconscionable agreements, payments or benefits
- 1325D Contravention due to inadvertence etc.
- 1325E Orders to secure compliance
- 1326 Effect of sections 1323, 1324 and 1325
- 1327 Power of Court to punish for contempt of Court
PART 9.6----PROCEEDINGS
- 1330 ASIC's power to intervene in proceedings
- 1331 Civil proceedings not to be stayed
- 1332 Standard of proof
- 1333 Evidence of contravention
- 1335 Costs
- 1336 Vesting of property
PART 9.6A----JURISDICTION AND PROCEDURE OF COURTS
Division 1--Civil jurisdiction Subdivision A--Preliminary- 1337A Operation of Division Subdivision B--Conferral of jurisdiction
- 1337B Jurisdiction of Federal Court and State and Territory Supreme Courts
- 1337C Jurisdiction of Federal Circuit and Family Court of Australia (Division 1) and State Family Courts
- 1337D Jurisdiction of courts (decisions to prosecute and related criminal justice process decisions made by Commonwealth officers)
- 1337E Jurisdiction of lower courts
- 1337F Appeals
- 1337G Courts to act in aid of each other Subdivision C--Transfer of proceedings
- 1337H Transfer of proceedings by the Federal Court and State and Territory Supreme Courts
- 1337J Transfer of proceedings by Federal Circuit and Family Court of Australia (Division 1) and State Family Courts
- 1337K Transfer of proceedings in lower courts
- 1337L Further matters for a court to consider when deciding whether to transfer a proceeding
- 1337M Transfer may be made at any stage
- 1337N Transfer of documents
- 1337P Conduct of proceedings
- 1337Q Rights of appearance
- 1337R Limitation on appeals Subdivision D--Rules of court
- 1337S Rules of the Federal Court
- 1337T Rules of the Supreme Court
- 1337U Rules of the Federal Circuit and Family Court of Australia (Division 1) Division 2--Criminal jurisdiction
- 1338A Operation of Division
- 1338B Jurisdiction of courts
- 1338C Laws to be applied
PART 9.7----UNCLAIMED PROPERTY
- 1339 ASIC to deal with unclaimed property
- 1340 No liability to pay calls on shares etc.
- 1341 Entitlement to unclaimed property
- 1342 Commonwealth or ASIC not liable for loss or damage
- 1343 Disposal of securities if whereabouts of holder unknown
- 1343A Disposal of interests in registered scheme if whereabouts of member unknown
PART 9.9----MISCELLANEOUS
- 1344 Use of ABN
- 1345 Exceptional circumstances--giving documents
- 1345A Minister may delegate prescribed functions and powers under this Act
- 1346 Non - application of rule against perpetuities to certain schemes
- 1348 Operation of Life Insurance Act
- 1349 Privilege against exposure to penalty--disqualification etc.
- 1350 Compensation for compulsory acquisition
PART 9.10----FEES IMPOSED BY THE CORPORATIONS (FEES) ACT 2001 AND THE CORPORATIONS (REVIEW FEES) ACT 2003
- 1351 Fees are payable to the Commonwealth
- 1354 Lodgment of document without payment of fee
- 1355 Doing act without payment of fee
- 1356 Effect of sections 1354 and 1355
- 1359 Waiver and refund of fees
- 1360 Debts due to the Commonwealth
- 1362 Payment of fee does not give right to inspect or search
PART 9.11----CORONAVIRUS KNOWN AS COVID-19
- 1362A Coronavirus known as COVID - 19
PART 9.12----REGULATIONS
- 1364 Power to make regulations
- 1365 Scope of particular regulations
- 1366 Verifying or certifying documents
- 1367 Documents lodged by an agent
- 1367A Publication in the prescribed manner
- 1368 Exemptions from Chapter 6D or 7
- 1369 Penalty notices
- 1369A State termination of reference
CHAPTER 10--Transitional provisions
PART 10.1----TRANSITION FROM THE OLD CORPORATIONS LEGISLATION
Division 1--Preliminary- 1370 Object of Part
- 1371 Definitions
- 1372 Relationship of Part with State validation Acts
- 1373 References to things taken or deemed to be the case etc.
- 1374 Existence of several versions of old corporations legislation does not result in this Part operating to take same thing to be done several times under new corporations legislation etc.
- 1375 Penalty units in respect of pre - commencement conduct remain at $100
- 1376 Ceasing to be a referring State does not affect previous operation of this Part Division 2--Carrying over registration of companies
- 1377 Division has effect subject to Division 7 regulations
- 1378 Existing registered companies continue to be registered Division 3--Carrying over the old Corporations Regulations
- 1379 Division has effect subject to Division 7 regulations
- 1380 Old Corporations Regulations continue to have effect Division 4--Court proceedings and orders
- 1381 Division has effect subject to Division 7 regulations
- 1382 Definitions
- 1383 Treatment of court proceedings under or related to the old corporations legislation--proceedings other than federal corporations proceedings
- 1384 Treatment of court proceedings under or related to the old corporations legislation--federal corporations proceedings
- 1384A Appeals etc. in relation to some former federal corporations proceedings
- 1384B Effect of decisions and orders made in federal corporations proceedings before commencement
- 1385 References to proceedings and orders in the new corporations legislation Division 5--Other specific transitional provisions
- 1386 Division has effect subject to Division 7 regulations
- 1387 Certain applications lapse on the commencement
- 1388 Carrying over the Partnerships and Associations Application Order
- 1389 Evidentiary certificates
- 1390 Preservation of nomination of body corporate as SEGC
- 1391 Preservation of identification of satisfactory records
- 1392 Retention of information obtained under old corporations legislation of non - referring State
- 1393 Transitional provisions relating to section 1351 fees
- 1394 Transitional provisions relating to securities exchange fidelity fund levies
- 1395 Transitional provisions relating to National Guarantee Fund levies
- 1396 Transitional provisions relating to futures organisation fidelity fund levies Division 6--General transitional provisions relating to other things done etc. under the old corporations legislation
- 1397 Limitations on scope of this Division
- 1398 Provisions of this Division may have an overlapping effect
- 1399 Things done by etc. carried over provisions continue to have effect
- 1400 Creation of equivalent rights and liabilities to those that existed before the commencement under carried over provisions of the old corporations legislation
- 1401 Creation of equivalent rights and liabilities to those that existed before the commencement under repealed provisions of the old corporations legislation
- 1402 Old corporations legislation time limits etc.
- 1403 Preservation of significance etc. of events or circumstances
- 1404 References in the new corporations legislation generally include references to events, circumstances or things that happened or arose before the commencement
- 1405 References in the new corporations legislation to that legislation or the new ASIC legislation generally include references to corresponding provisions of the old corporations legislation or old ASIC legislation
- 1406 Carrying over references to corresponding previous laws
- 1407 References to old corporations legislation in instruments
- 1408 Old transitional provisions continue to have their effect Division 7--Regulations dealing with transitional matters
- 1409 Regulations may deal with transitional matters
PART 10.2----TRANSITIONAL PROVISIONS RELATING TO THE FINANCIAL SERVICES REFORM ACT 2001
Division 1--Transitional provisions relating to the phasing-in of the new financial services regime Subdivision A--Preliminary- 1410 Definitions Subdivision B--Treatment of existing markets
- 1411 When is a market being operated immediately before the FSR commencement?
- 1412 Treatment of proposed markets that have not started to operate by the FSR commencement
- 1413 Obligation of Minister to grant licences covering main existing markets
- 1414 Section 1413 markets--effect of licences and conditions
- 1415 Section 1413 markets--preservation of old Corporations Act provisions during transition period
- 1416 Section 1413 markets--powers for regulations to change how the old and new Corporations Act apply during the transition period
- 1417 Section 1413 markets--additional provisions relating to previously unregulated services
- 1418 Treatment of exempt stock markets and exempt futures markets (other than markets with no identifiable single operator)
- 1419 Treatment of exempt stock markets and exempt futures markets that do not have a single identifiable operator
- 1420 Treatment of stock markets of approved securities organisations
- 1421 Treatment of special stock markets for unquoted interests in a registered scheme
- 1422 Treatment of other markets that were not unauthorised Subdivision C--Treatment of existing clearing and settlement facilities
- 1423 When is a clearing and settlement facility being operated immediately before the FSR commencement?
- 1424 Treatment of proposed clearing and settlement facilities that have not started to operate by the FSR commencement
- 1424A Treatment of unregulated clearing and settlement facilities operated by holders of old Corporations Act approvals
- 1425 Obligation of Minister to grant licences covering main existing facilities
- 1426 Section 1425 facilities--effect of licences and conditions
- 1427 Section 1425 facilities--powers for regulations to change how the old and new Corporations Act apply during the transition period
- 1428 Section 1425 facilities--additional provisions relating to previously unregulated services
- 1429 Treatment of other clearing and settlement facilities Subdivision D--Treatment of people who carry on financial services businesses and their representatives
- 1430 Meaning of regulated principal , regulated activities and relevant old legislation
- 1431 Parts 7.6, 7.7 and 7.8 of the amended Corporations Act generally do not apply to a regulated principal during the transition period
- 1432 Continued application of relevant old legislation
- 1433 Streamlined licensing procedure for certain regulated principals
- 1434 Special licences for insurance multi - agents during first 2 years after FSR commencement
- 1435 Licensing decisions made within the first 2 years of the FSR commencement--regard may be had to conduct and experience of applicant or related body corporate that currently provides same or similar services
- 1436 Treatment of representatives--general
- 1436A Treatment of representatives--insurance agents
- 1437 Exemptions and modifications by ASIC Subdivision E--Product disclosure requirements
- 1438 New product disclosure provisions do not apply to existing products during transition period
- 1439 Offences against new product disclosure provisions--additional element for prosecution to prove if conduct occurs after opting - in and before the end of the first 2 years
- 1440 Continued application of certain provisions of old disclosure regimes during transition period
- 1441 Certain persons who are not yet covered by Parts 7.6, 7.7 and 7.8 of the amended Corporations Act are required to comply with Part 7.9 obligations as if they were regulated persons
- 1442 Exemptions and modifications by ASIC Subdivision F--Certain other product-related requirements
- 1442A Deferred application of hawking prohibition
- 1442B Deferred application of confirmation of transaction and cooling - off provisions etc. Division 2--Other transitional provisions
- 1443 Definitions
- 1444 Regulations may deal with transitional, saving or application matters
- 1445 ASIC determinations may deal with transitional, saving or application matters
PART 10.3----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS LEGISLATION AMENDMENT ACT 2003
- 1447 Application of sections 601AB and 601PB
- 1448 Application of amendments made by Schedule 4 to the Corporations Legislation Amendment Act 2003
PART 10.4----TRANSITIONAL PROVISIONS RELATING TO THE FINANCIAL SERVICES REFORM AMENDMENT ACT 2003
- 1449 Definition
- 1450 Application of Part 10.2 to Chapter 7 as amended by Schedule 2 to the amending Act
- 1451 Provisions relating to the scope of the amendments of Chapter 7 made by Schedule 2
- 1452 Amendments of section 1274
PART 10.5----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATE LAW ECONOMIC REFORM PROGRAM (AUDIT REFORM AND CORPORATE DISCLOSURE) ACT 2004
- 1453 Definitions
- 1454 Audit reforms in Schedule 1 to the amending Act (auditing standards and audit working papers retention rules)
- 1455 Audit reforms in Schedule 1 to the amending Act (adoption of auditing standards made by accounting profession before commencement)
- 1456 Audit reforms in Schedule 1 to the amending Act (new competency standard provisions)
- 1457 Audit reforms in Schedule 1 to the amending Act (new annual statement requirements for auditors)
- 1458 Audit reforms in Schedule 1 to the amending Act (imposition of conditions on existing registration as company auditor)
- 1459 Audit reforms in Schedule 1 to the amending Act (application of items 62 and 63)
- 1460 Audit reforms in Schedule 1 to the amending Act (non - audit services disclosure)
- 1461 Audit reforms in Schedule 1 to the amending Act (auditor appointment)
- 1462 Audit reforms in Schedule 1 to the amending Act (auditor independence)
- 1463 Audit reforms in Schedule 1 to the amending Act (auditor rotation)
- 1464 Audit reforms in Schedule 1 to the amending Act (listed company AGMs)
- 1465 Schedule 2 to the amending Act (financial reporting)
- 1466A Schedule 2A to the amending Act (true and fair view)
- 1466 Schedule 3 to the amending Act (proportionate liability)
- 1467 Schedule 4 to the amending Act (enforcement)
- 1468 Schedule 5 to the amending Act (remuneration of directors and executives)
- 1469 Schedule 6 to the amending Act (continuous disclosure)
- 1470 Schedule 7 to the amending Act (disclosure rules)
- 1471 Schedule 8 to the amending Act (shareholder participation and information)
PART 10.8----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (TAKEOVERS) ACT 2007
- 1478 Application of amendments of the takeovers provisions
PART 10.9----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (INSOLVENCY) ACT 2007
- 1479 Definition
- 1480 Schedule 1 to the amending Act (improving outcomes for creditors)
- 1481 Schedule 2 to the amending Act (deterring corporate misconduct)
- 1482 Schedule 3 to the amending Act (improving regulation of insolvency practitioners)
- 1483 Schedule 4 to the amending Act (fine - tuning voluntary administration)
PART 10.10----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (SHORT SELLING) ACT 2008
PART 10.11----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (NO. 1) ACT 2009
- 1485 Application of new subsection 206B(6)
- 1486 Application of new section 206EAA
PART 10.12----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS LEGISLATION AMENDMENT (FINANCIAL SERVICES MODERNISATION) ACT 2009
Division 1--Transitional provisions relating to Schedule 1 to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009- 1487 Definitions
- 1488 Application of amendments--general
- 1489 Applications of amendments--application for and grant of licences etc. authorising margin lending financial services
- 1490 Application of amendments--between 6 and 12 months after commencement
- 1491 Acquisition of property
- 1492 Regulations Division 2--Transitional provisions relating to Schedule 2 to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009
- 1493 Definitions
- 1494 Transitional provisions relating to limit on control of trustee companies
- 1495 Transitional provisions relating to the amendments of Chapter 7
- 1496 General power for regulations to deal with transitional matters Division 3--Transitional provisions relating to Schedule 3 to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009
- 1497 Definitions
- 1498 Application of amendments
PART 10.13----TRANSITIONAL PROVISIONS RELATING TO THE PERSONAL PROPERTY SECURITIES (CORPORATIONS AND OTHER AMENDMENTS) ACT 2010
- 1499 Definitions
- 1500 Charges, liens and pledges--continuation of restriction of references
- 1501 Charges, liens, pledges and third party property--application
- 1501A References to the whole or substantially the whole of a company's property
- 1501B Constructive notice of registrable charges
- 1502 Repeal of Chapter 2K (charges)--general
- 1503 Repeal of Chapter 2K (charges)--cessation of requirements in relation to documents or notices
- 1504 Repeal of Chapter 2K (charges)--application of section 266
- 1505 Repeal of Chapter 2K (charges)--cessation of company registration requirements
- 1506 Repeal of Chapter 2K (charges)--priority between registrable charges
- 1507 New section 440B (restrictions on third party property rights)
- 1508 New subsection 442CB(1) (administrator's duty of care)
- 1509 New section 588FP (security interests in favour of an officer of a company etc. void)
- 1510 Winding up applied for before the commencement time
PART 10.14----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (CORPORATE REPORTING REFORM) ACT 2010
- 1510A Definition
- 1510B Application of Part 1 of Schedule 1 to the amending Act
PART 10.15----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (FINANCIAL MARKET SUPERVISION) ACT 2010
- 1511 Definition
- 1512 Application of amendments
- 1513 Regulations may deal with transitional matters
PART 10.16----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (NO. 1) ACT 2010
- 1516 Application of amendments
PART 10.17----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (IMPROVING ACCOUNTABILITY ON DIRECTOR AND EXECUTIVE REMUNERATION) ACT 2011
- 1517 Application of Subdivision B of Division 1 of Part 2D.3
- 1518 Application of sections 206J, 206K, 206L and 206M
- 1519 Application of subsection 249L(2)
- 1520 Application of section 250BB
- 1521 Application of section 250BC
- 1522 Application of section 250BD
- 1523 Application of subsections 250R(4) to (10)
- 1524 Application of Division 9 of Part 2G.2
- 1525 Application of amendments of section 300A
PART 10.18----TRANSITIONAL AND APPLICATION PROVISIONS RELATING TO THE FUTURE OF FINANCIAL ADVICE MEASURES
Division 1--Provisions relating to the Corporations Amendment (Further Future of Financial Advice Measures) Act 2012- 1526 Definitions
- 1527 Application of best interests obligations
- 1528 Application of ban on conflicted remuneration
- 1529 Application of ban on other remuneration--volume - based shelf - space fees
- 1530 Section 1350 does not apply to regulations made for the purposes of subsection 1528(2) or 1529(2)
- 1531 Application of ban on other remuneration--asset - based fees on borrowed amounts Division 2--Provisions relating to the Corporations Amendment (Financial Advice Measures) Act 2016
- 1531A Definitions
- 1531B Best interests obligation
- 1531C Renewal notices (opt - in requirement)
- 1531D Disclosure statements
- 1531E Conflicted remuneration
PART 10.19----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (PHOENIXING AND OTHER MEASURES) ACT 2012
- 1532 Definition
- 1533 Part 1 of Schedule 1 to the amending Act (winding up by ASIC)
- 1534 Part 2 of Schedule 1 to the amending Act (publication requirements)
- 1535 Part 3 of Schedule 1 to the amending Act (miscellaneous amendments)
PART 10.20----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS LEGISLATION AMENDMENT (AUDIT ENHANCEMENT) ACT 2012
- 1536 Definitions
- 1537 Application of amendments relating to annual transparency reports
PART 10.21----TRANSITIONAL PROVISION RELATING TO THE CORPORATIONS LEGISLATION AMENDMENT (FINANCIAL REPORTING PANEL) ACT 2012
- 1538 Courts etc. may have regard to Financial Reporting Panel report
PART 10.21A----TRANSITIONAL PROVISIONS RELATING TO THE SUPERANNUATION LEGISLATION AMENDMENT (SERVICE PROVIDERS AND OTHER GOVERNANCE MEASURES) ACT 2013
- 1538A Application of amendments relating to contributions to a fund or scheme
- 1538B Application of amendments relating to Statements of Advice
PART 10.22----TRANSITIONAL PROVISIONS RELATING TO THE SUPERANNUATION LEGISLATION AMENDMENT (FURTHER MYSUPER AND TRANSPARENCY MEASURES) ACT 2012
- 1539 Application of section 1017BA (Obligation to make product dashboard publicly available)
- 1540 Application of subsection 1017BB(1) (Obligation to make information relating to investment of assets of superannuation entities publicly available)
PART 10.22A----TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (IMPROVING ACCOUNTABILITY AND MEMBER OUTCOMES IN SUPERANNUATION MEASURES NO. 1) ACT 2019
- 1541A Application of amendments relating to portfolio holdings disclosure
PART 10.23----TRANSITIONAL PROVISIONS RELATING TO THE CLEAN ENERGY LEGISLATION (CARBON TAX REPEAL) ACT 2014
- 1542 Definition
- 1543 Transitional--carbon units issued before the designated carbon unit day
- 1544 Transitional--variation of conditions on Australian financial services licences
- 1545 Transitional--immediate cancellation of Australian financial services licences
- 1546 Transitional--statements of reasons for cancellation of Australian financial services licences
PART 10.23A----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (PROFESSIONAL STANDARDS OF FINANCIAL ADVISERS) ACT 2017
Division 1--Definitions- 1546A Definitions Division 2--Application and transitional provisions
- 1546C Application of limitation on authorisation to provide personal advice and offence
- 1546D Application of requirements relating to provisional relevant providers
- 1546E Application of continuing professional development standard for relevant providers
- 1546F Application of Code of Ethics to relevant providers
- 1546G Application of obligations in relation to compliance schemes
- 1546H Application of obligation for standards body to publish annual report
- 1546J Application of obligation to notify ASIC about a person who becomes a relevant provider
- 1546K Application of requirements relating to information about relevant provider's principal place of business
- 1546L Application of requirements relating to information about membership of professional associations where relevant provider is licensee
- 1546M Application of requirements relating to information about membership of professional associations where relevant provider is not licensee
- 1546N Application of requirements relating to information about provisional relevant provider's work and training
- 1546P Application of ongoing obligation to notify ASIC when there is a change in a matter for a relevant provider
- 1546Q Application of obligation to notify ASIC about a person who starts to have control of a body corporate licensee
- 1546R Application of obligation to notify ASIC about a person who ceases to have control of a body corporate licensee
- 1546S Application of obligation for relevant providers to provide information to financial services licensees
- 1546T Application of requirements relating to Register of Relevant Providers
- 1546U Relevant provider numbers given before commencement
- 1546V Continuation of Register of Relevant Providers Division 3--Transitional notices
- 1546W Obligation to notify ASIC of certain information
- 1546X Obligation to notify ASIC of CPD year
- 1546ZA Offence for failing to lodge transitional notices
PART 10.24----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS LEGISLATION AMENDMENT (DEREGULATORY AND OTHER MEASURES) ACT 2014
- 1547 Definitions
- 1548 Application of amendments relating to calling of general meetings
- 1549 Application of amendments relating to directors' reports for listed companies
PART 10.24A----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (LIFE INSURANCE REMUNERATION ARRANGEMENTS) ACT 2017
- 1549A Definitions
- 1549B Applications of amendments relating to life risk insurance products
PART 10.25----TRANSITIONAL PROVISIONS RELATING TO THE INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)
Division 1--Introduction- 1550 Simplified outline of this Part
- 1551 Definitions Division 2--Application of Part 2 of the Insolvency Practice Schedule (Corporations) and related consequential amendments Subdivision A--Registering liquidators
- 1552 Applications for registration under the old Act
- 1553 Persons registered under the old Act continue to be registered under the Insolvency Practice Schedule (Corporations)
- 1554 Old Act registrant's details
- 1555 Period of old Act registrant's registration under the Insolvency Practice Schedule (Corporations)
- 1556 Conditions for old Act registrants--conditions under the Insolvency Practice Schedule (Corporations)
- 1557 Current conditions for old Act registrants--undertakings under the old Act
- 1558 Current conditions for old Act registrants--undertakings under the ASIC Act
- 1559 Old Act registrant registered as liquidator of a specified body corporate
- 1560 Old Act registrant chooses not to renew Subdivision B--Annual returns and statements
- 1561 Application of obligation to lodge annual liquidator returns Subdivision C--Notice requirements
- 1562 Notice of significant events Subdivision D--Cancellation by ASIC under the old Act
- 1563 Request for cancellation made before the commencement day
- 1564 Decision to cancel registration made before the commencement day Subdivision E--Disciplinary proceedings before the Board
- 1565 Matters not dealt with by the Board before the commencement day
- 1566 Matters dealt with by the Board before the commencement day
- 1567 Matters which the Board refuses to deal with before the commencement day
- 1568 Board considering terminating suspension before the commencement day
- 1569 Sharing information between the Board and committees Subdivision F--Suspension, cancellation and disciplinary action under the Insolvency Practice Schedule (Corporations)
- 1570 Direction to comply with requirement to lodge documents etc.
- 1571 Suspension by ASIC under the Insolvency Practice Schedule (Corporations)
- 1572 Cancellation by ASIC under the Insolvency Practice Schedule (Corporations)
- 1573 Show - cause notice under the Insolvency Practice Schedule (Corporations)
- 1574 Lifting or shortening suspension under the Insolvency Practice Schedule (Corporations)
- 1575 Action initiated by industry bodies Subdivision G--Powers of the Court and other bodies
- 1576 Application of court powers under section 45 - 1 of the Insolvency Practice Schedule (Corporations)
- 1577 Powers to deal with registration under the old Act on or after the commencement day Division 3--Application of Part 3 of the Insolvency Practice Schedule (Corporations) and related consequential amendments Subdivision A--Introduction
- 1578 Simplified outline of this Division Subdivision B--General rules for Part 3
- 1579 Application of Part 3 of the Insolvency Practice Schedule (Corporations)--general rules Subdivision C--Remuneration and other benefits received by external administrators
- 1580 Application of Division 60 of the Insolvency Practice Schedule (Corporations)--general rule
- 1581 Old Act continues to apply in relation to remuneration for administrators already appointed
- 1582 Duties of administrators relating to remuneration and other benefits
- 1583 Old Act continues to apply in relation to any right of indemnity
- 1584 Application of new provisions about vacancies of court - appointed liquidator
- 1585 Application of new provisions about exercise of powers while company under external administration Subdivision D--Funds handling
- 1586 Application of Division 65 of the Insolvency Practice Schedule (Corporations)--general rule
- 1587 Administration account
- 1588 Paying money into administration account
- 1589 Paying money out of administration account
- 1590 Handling securities Subdivision E--Information
- 1591 Application of Division 70 of the Insolvency Practice Schedule (Corporations)--general rule
- 1592 Accounts and administration returns
- 1593 Administration books
- 1594 Audit of administration books
- 1595 Transfer of administration books
- 1596 Retention and destruction of administration books
- 1597 Giving information to creditors etc.
- 1598 Commonwealth may request information
- 1599 Reporting to ASIC
- 1600 Old Act continues to apply in relation to notices to remedy default Subdivision F--Meetings
- 1601 Application of Division 75 of the Insolvency Practice Schedule (Corporations)--general rule
- 1602 External administrator must convene meetings in certain circumstances
- 1603 Old Act continues to apply in relation to reporting for first year of administration
- 1604 Old Act continues to apply to the deregistration of companies
- 1605 Old Act continues to apply for certain meetings convened etc. before commencement day
- 1606 Outcome of voting at creditors' meeting determined by related entity or on casting vote--Court powers Subdivision G--Committees of inspection
- 1607 Application of Division 80 of the Insolvency Practice Schedule (Corporations)--general rules
- 1608 Appointing committees of inspection
- 1609 Old Act continues to apply to certain reports by administrator
- 1610 Membership of continued committees
- 1611 Validity of appointment under section 548 of the old Act not affected by lack of separate meeting of contributories
- 1612 Continued application of directions by creditors or committees under the old Act
- 1613 Committee of inspection may request information
- 1614 Duties of members of committee of inspection and creditors relating to profits and advantages etc. Subdivision H--Review of the external administration of a company
- 1615 Application of Division 90 of the Insolvency Practice Schedule (Corporations)--general rule
- 1616 Application of the Insolvency Practice Schedule (Corporations) provisions that conflict with old Act Court orders--general rule
- 1617 Old Act continues to apply in relation to ongoing proceedings before a court--general rule
- 1618 Court powers to inquire into and make orders
- 1619 Review by another registered liquidator
- 1620 Removal by creditors Division 4--Administrative review
- 1621 Administrative Appeals Tribunal proceedings Division 5--Application of other consequential amendments
- 1622 Outcome of voting at creditors' meeting determined by related entity or on casting vote--Court powers
- 1623 Returns and accounts by controllers
- 1624 Transfer of books by a controller to a new controller or ASIC
- 1625 Officers reporting to controller about corporation's affairs
- 1626 Lodging notice of execution of a deed of company arrangement
- 1627 Office of liquidator appointed by the Court
- 1628 Report as to company's affairs to be submitted to liquidator
- 1629 Orders for release or deregistration
- 1630 Meeting relating to the voluntary winding up of a company
- 1631 Pooling determinations
- 1632 Electronic methods of giving or sending certain notices
- 1633 Deregistration following winding up Division 6--Regulations
- 1634 Regulations
PART 10.26----TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 3 TO THE INSOLVENCY LAW REFORM ACT 2016
- 1635 Application of amendments made by Schedule 3 to the Insolvency Law Reform Act 2016
PART 10.28----TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (2016 MEASURES NO. 1) ACT 2017
- 1636A Application of subsections 981D(2) and 984B(3)
- 1637 Application of subparagraph 1274(2)(a)(iva) and subsections 1274(2AA) and (2AB)
PART 10.30----TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (2017 MEASURES NO. 5) ACT 2018
- 1639 Definitions
- 1640 Application--obligation to comply with rules about financial benchmarks
- 1641 Application--offences relating to manipulation of financial benchmarks
- 1642 Application--extended meaning of financial products and Division 3 financial products for Part 7.10
PART 10.31----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (CROWD-SOURCED FUNDING FOR PROPRIETARY COMPANIES) ACT 2018
- 1643 Application of amendments
PART 10.32----TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (ENHANCING WHISTLEBLOWER PROTECTIONS) ACT 2019
PART 10.33----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (ASIA REGION FUNDS PASSPORT) ACT 2018
- 1645 Saving delegations
- 1646 Decisions to give, withdraw or not withdraw a notice under subsection 1313(1)
PART 10.34----TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (STRENGTHENING PROTECTIONS FOR EMPLOYEE ENTITLEMENTS) ACT 2019
- 1647 Application--protection of employee entitlements
- 1648 Application--contribution orders
- 1649 Application--director disqualification
PART 10.35----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO REGISTRIES MODERNISATION AMENDMENTS
- 1650 Definitions
- 1650A Validation of acts or things done during interim period
- 1650B Application of amendments
- 1650C Things started but not finished by ASIC
- 1650D Register of Liquidators
PART 10.35A----TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 2 TO THE TREASURY LAWS AMENDMENT (REGISTRIES MODERNISATION AND OTHER MEASURES) ACT 2020
PART 10.36----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (STRENGTHENING CORPORATE AND FINANCIAL SECTOR PENALTIES) ACT 2019
- 1655 Definitions
- 1656 Application--offences
- 1657 Application--civil penalty provisions
- 1658 Application--offence provisions repealed and substituted with conduct rules with multiple consequences
- 1659 Application--infringement notices
- 1660 Application--definition of dishonesty
PART 10.37----TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (COMBATING ILLEGAL PHOENIXING) ACT 2020
- 1661 Application of amendments
PART 10.38----TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 1 TO THE TREASURY LAWS AMENDMENT (MUTUAL REFORMS) ACT 2019
- 1662 Application of amendments made by Schedule 1 to the Treasury Laws Amendment (Mutual Reforms) Act 2019
PART 10.39----TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 3 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE--STRONGER REGULATORS (2019 MEASURES)) ACT 2020
- 1663 Definitions
- 1664 Application--existing financial services licensee
- 1665 Application--applications made before commencement
PART 10.40----TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 4 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE--STRONGER REGULATORS (2019 MEASURES)) ACT 2020
- 1666 Application--conduct etc. relevant to new banning and disqualification orders
- 1667 Transitional--existing banning and disqualification orders
PART 10.41----TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (2019 MEASURES NO. 3) ACT 2020
- 1668 Transitional--delegations
PART 10.42----TRANSITIONAL PROVISIONS RELATING TO THE CORONAVIRUS ECONOMIC RESPONSE PACKAGE OMNIBUS ACT 2020
- 1669 Application of amendments made by Schedule 12 to the Coronavirus Economic Response Package Omnibus Act 2020
PART 10.43----APPLICATION PROVISIONS RELATING TO SCHEDULE 10 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020
- 1670 Application of Reference Checking and Information Sharing Protocol
PART 10.44----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 11 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020
- 1671 Definitions
- 1671A Continued application of paragraph 601FC(1)(l) and section 912D
- 1671B Application of sections 912DAA and 912DAB
- 1671C Application of section 912DAC
- 1671D Application of ASIC's obligations to publish information under section 912DAD
- 1671E Application of provisions dealing with notifying and compensating a person affected by a reportable situation
PART 10.45----TRANSITIONAL PROVISIONS RELATING TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020
- 1672 Transitional--Banking Code of Practice
PART 10.46----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 1 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE NO. 2) ACT 2021
Division 1--Introduction- 1673 Definitions Division 2--New ongoing fee arrangements
- 1673A Application provision for new ongoing fee arrangements Division 3--Existing ongoing fee arrangements
- 1673B Application of this Division
- 1673C Application--annual requirement to give fee disclosure statement
- 1673D Transitional--existing obligation to give a fee disclosure statement under section 962G
- 1673E Transitional--existing obligation to give a renewal notice and fee disclosure statement under section 962K
- 1673F Application--consent requirements for deductions of ongoing fees
- 1673G Application--compliance records
PART 10.47----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 2 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE NO. 2) ACT 2021
- 1674 Application of disclosure of lack of independence reforms
- 1674A Obligation to give updated Financial Services Guide
PART 10.48----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 7 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020
- 1675 Definitions
- 1675A Application of claims handling and settling services reforms
- 1675B Transition periods
- 1675C Application during transition period
PART 10.49----TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 9 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE) ACT 2020
- 1676 Definitions
- 1676A Automatic extension of licence conditions on the commencement day--licensees who are authorised to deal
- 1676B Automatic extension of licence conditions--licence applications pending just before commencement day
- 1676C Automatic extension of licence conditions--variation applications pending just before commencement day
- 1676D Automatic licence conditions may be varied etc.
PART 10.51----TRANSITIONAL PROVISIONS RELATING TO THE TERRITORIES LEGISLATION AMENDMENT ACT 2020
- 1678 Definitions
- 1678A Registration of Norfolk Island companies--general
- 1678B Registration of Norfolk Island companies--registration process and other matters
- 1678C Registration of Norfolk Island companies--provision of information
- 1678E Saving of rules in relation to particular corporations
- 1678F Director identification numbers--Norfolk Island company directors
PART 10.52----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 1 TO THE TREASURY LAWS AMENDMENT (2021 MEASURES NO. 1) ACT 2021
- 1679 Definitions
- 1679A Application--virtual meetings and electronic communications
- 1679C Application--recording and keeping of minute books
- 1679D Application--execution of documents
PART 10.53----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO MEETINGS AND COMMUNICATIONS UNDER THE CORPORATIONS AMENDMENT (CORPORATE INSOLVENCY REFORMS) ACT 2020
- 1680 Definitions
- 1680A Application of COVID - 19 instrument
- 1680B Validation of things done under COVID - 19 instruments
PART 10.54----APPLICATION PROVISIONS RELATING TO SIMPLIFIED LIQUIDATION PROCESS UNDER THE CORPORATIONS AMENDMENT (CORPORATE INSOLVENCY REFORMS) ACT 2020
- 1681 Application of amendments relating to the simplified liquidation process
PART 10.55----TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (YOUR FUTURE, YOUR SUPER) ACT 2021
- 1682 Application of amendment relating to portfolio holdings disclosure
PART 10.56----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (2021 MEASURES NO. 1) ACT 2021
- 1683 Definitions
- 1683A Application
- 1683B Review of operation of laws
- 1683C Amendments made by Schedule 2 to the amending Act cease to have effect if review of operation of laws is not conducted
PART 10.57----TRANSITIONAL PROVISIONS RELATING TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE--BETTER ADVICE) ACT 2021 AND RELATED MEASURES
Division 1--Definitions- 1684 Definitions Division 2--Transitional provisions for existing providers
- 1684AA Experienced provider pathway
- 1684A Application--qualifications for existing providers
- 1684B Application--exam for existing providers
- 1684C Application--existing providers who meet certain education and training standards exempt from work and training requirement
- 1684D Application--limitation on authorisation of existing providers to provide personal advice
- 1684E Transitional--Minister may determine courses for certain purposes Division 3--Other transitional provisions relating to the amending Act
- 1684F Transitional--exams
- 1684G Application--continuing professional development
- 1684H Application--action against relevant providers
- 1684J Application--recommendations to ASIC in relation to restricted civil penalty provisions
- 1684K Application--warnings and reprimands
- 1684M Saving--determinations made for education and training standards
- 1684N Saving--word or expression to refer to a provisional relevant provider
- 1684P Saving--Code of Ethics
- 1684Q Transitional--approvals of foreign qualifications
- 1684R Saving--approvals of foreign qualifications that are in force
- 1684S Transitional--approvals of foreign qualifications that are not yet in force
- 1684T Transitional--orders under section 30 - 20 of the old Tax Agent Services Act
- 1684U Transitional--deemed registration of certain relevant providers
- 1684V Transitional--transfer of documents Division 3A--Transitional provisions relating to the second amending Act
- 1684VA Application of amendment--approval of domestic qualifications
- 1684VB Transitional--determination approving degrees and qualifications
- 1684VC Certain requirements for registered tax agents
PART 10.58----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 6 TO THE TREASURY LAWS AMENDMENT (2022 MEASURES NO. 4) ACT 2023
- 1684 Financial reporting and auditing requirements for registrable superannuation entities
PART 10.59----APPLICATION PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (2021 MEASURES NO. 5) ACT 2021
- 1686 Definitions
- 1686A Qualified privilege for restructuring practitioners
- 1686B Protection of persons dealing with restructuring practitioner
- 1686C Eligibility criteria for simplified liquidation
- 1686D Powers and duties of liquidator
- 1686E Withdrawal of market bids
PART 10.60----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (MEETINGS AND DOCUMENTS) ACT 2022
- 1687 Definitions
- 1687A Application--Signing and execution of documents
- 1687B Application--meetings
- 1687C Application--sending documents
- 1687D Transitional--elections to be sent documents in hard copy made under section 253RB or 253RC
- 1687E Transitional--elections to receive annual reports in particular form
- 1687F Transitional--elections not to be sent annual reports
- 1687G Transitional--requests for full reports
- 1687H Transitional--other elections to be sent documents in particular form
- 1687J Review of operation of laws
- 1687K Provisions relating to holding virtual - only meetings cease to have effect if report of review of operation of laws is not tabled within certain period
PART 10.62----APPLICATION PROVISIONS RELATING TO SCHEDULE 8 TO THE CORPORATE COLLECTIVE INVESTMENT VEHICLE FRAMEWORK AND OTHER MEASURES ACT 2022
- 1689 Definitions
- 1690 Application of paragraph 912D(3)(e)
- 1691 Application of subsection 912D(6)
- 1692 Saving of regulation 7.6.04A of the Corporations Regulations 2001
PART 10.63----APPLICATION PROVISIONS RELATING TO PART 7 OF SCHEDULE 4 TO THE TREASURY LAWS AMENDMENT (2022 MEASURES NO. 1) ACT 2022
- 1693 Definitions
- 1693A Application provision
- 1693B Instruments that provide relief from requirements of this Act--Lodgement of annual reports by large proprietary companies
PART 10.64----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULES 1 AND 4 TO THETREASURY LAWS AMENDMENT (MODERNISING BUSINESS COMMUNICATIONS AND OTHER MEASURES) ACT 2023
Division 1--Modernising Business Communications- 1694 Definitions
- 1694A Application--signing documents
- 1694B Application--sending documents
- 1694C Application--uncontactable members
- 1694D Application--directors' meetings
- 1694E Transitional--elections by Australian members of notified foreign passport funds to receive annual reports in particular form etc.
- 1694F Transitional--elections by members of companies limited by guarantee to receive reports etc. Division 2--Miscellaneous and Technical Amendments
- 1694G Application of amendments made by Division 2 of Part 1 of Schedule 4 to the Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023
- 1694H Application of amendments made by Division 16 of Part 1 of Schedule 4 to the Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023
- 1694J Transitional--Reference Checking and Information Sharing Protocol
PART 10.66----TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 4 OF THE TREASURY LAWS AMENDMENT (COST OF LIVING SUPPORT AND OTHER MEASURES) ACT 2022
- 1696 Employee share schemes--recognised foreign markets
PART 10.67----APPLICATION PROVISIONS RELATING TO SCHEDULE 4 TO THE TREASURY LAWS AMENDMENT (2022 MEASURES NO. 1) ACT 2022
- 1697 Application of amendment to obligation to make product dashboard publicly available
PART 10.68----APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO THE ALRC FINANCIAL SERVICES INTERIM REPORTS
Division 1--Schedule 2 to the Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023- 1698 Definitions
- 1698A Translation of references in instruments Division 2--Schedules 1 and 2 to the Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023
- 1698B Definitions
- 1698C Translation of references in instruments
- 1698D Calculation of time
- 1698E Saving of Part 5D.6 authorisations
- 1698F Saving of existing prescribed forms
- 1689G Saving of existing regulations that are not to be remade
- 1698H Saving of declarations that a specified facility etc. is not a financial product
- 1698J Saving of appointments and delegations under Part 7.5
- 1698K Amendments of Division 5 of Part 7.8A do not affect the continuity of instruments made under section 994L
- 1698L Amendments of Part 9.12 do not affect the continuity of the regulations
PART 10.69----TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 1 TO THE TREASURY LAWS AMENDMENT (2023 MEASURES NO. 1) ACT 2023
- 1699 Definitions
- 1699A Transitional--registration of relevant providers
- 1699B Transitional--relevant providers who are financial services licensees applying to be registered
- 1699C Transitional--financial services licensees applying to register relevant providers
- 1699D Transitional--registration suspension orders
- 1699E Transitional--registration prohibition orders
- 1699F Transitional--action by Financial Services and Credit Panels against relevant providers
- 1699G Application of amendment--requirement for relevant providers to be registered
- 1699H Application of amendment--deemed registration of certain relevant providers
PART 10.70----APPLICATION PROVISIONS RELATING TO SCHEDULE 5 TO THE TREASURY LAWS AMENDMENT (2023 LAW IMPROVEMENT PACKAGE NO. 1) ACT 2023
- 1700 Exemptions from requirement to give Financial Services Guide
PART 10.71----APPLICATION PROVISIONS RELATING TO THE TREASURY LAWS AMENDMENT (2023 MEASURES NO. 3) ACT 2023
- 1701 Schemes for avoiding certain product intervention orders