Australian Securities and Investments Commission Amendment Regulations 2000 (No. 1) (Cth)

Case
No judgment structure available for this case.

Australian Securities and Investments Commission Amendment Regulations 2000 (No. 1)1

Statutory Rules 2000 No. 102

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under theAustralian Securities and Investments Commission Act 1989.

Dated 8 March 2000

WILLIAM DEANE

Governor-General

By His Excellency’s Command

JOE HOCKEY

Minister for Financial Services and Regulation

Australian Securities and Investments Commission Amendment Regulations 2000 (No. 1)1

Statutory Rules 2000 No. 102

made under the

Australian Securities and Investments Commission Act 1989

   

Contents

Page

  • •
  • •
 

Do not delete: Part placeholder

Do not delete: Division placeholder

1Name of Regulations

 These Regulations are the Australian Securities and Investments Commission Amendment Regulations 2000 (No. 1).

2Commencement

 These Regulations commence on 13 March 2000.

3Amendment of Australian Securities and Investments Commission Regulations 1990

Schedule 1 amends the Australian Securities and Investments Commission Regulations 1990.

Schedule 1Amendments

Do not delete: Schedule Part placeholder

(regulation 3)

[1]Regulations 13 and 14

substitute

13Objects of this Part

 The objects of this Part are to ensure that Panel proceedings are:

  • (a)

    as fair and reasonable; and

  • (b)

    conducted with as little formality; and

  • (c)

    conducted in as timely manner;

 as the requirements of this Part and the relevant national scheme law, and a proper consideration of the matters before the Panel, permit.

14Application of this Part

 This Part applies to Panel proceedings in addition to the requirements of a relevant national scheme law that applies to the proceedings.

[2]Regulation 15, definition of application

omit

section 733 or 734

insert

section 656A, 657C or 657EA

[3]Regulation 15, definition of brief

substitute

brief, in relation to Panel proceedings, means the brief for the proceedings that is mentioned in paragraph 20 (b).

[4]Regulation 15, definition of decision

omit

[5]Regulation 15, definitions of inquiry and intervener

omit

[6]Regulation 15, definition of party

substitute

party means a party to Panel proceedings.

[7]Subregulation 16 (1)

omit

Subject to this Part, the

insert

In addition to any other provision of this Part, the

[8]Paragraph 16 (1) (a)

omit

at a joint inquiry

insert

in Panel proceedings

[9]Paragraph 16 (1) (b)

omit

an inquiry

insert

its proceedings

[10]Subparagraph 16 (1) (c) (ii)

omit

at an inquiry

insert

in Panel proceedings

[11]Paragraph 16 (1) (d)

substitute

  • (d)

    give directions to parties to lodge with the Panel specified documents relating to Panel proceedings; and

[12]Paragraph 16 (1) (g)

substitute

  • (g)

    invite a person who is not a party to make a submission in relation to Panel proceedings; and

[13]Paragraph 16 (1) (h)

omit

an inquiry

insert

Panel proceedings

[14]Paragraph 16 (1) (i)

omit

an inquiry

insert

Panel proceedings

[15]Paragraph 16 (1) (j)

omit

an inquiry

insert

Panel proceedings

[16]Subregulation 16 (2)

omit

an inquiry

insert

Panel proceedings

[17]Regulation 17

omit

[18]Regulation 19

substitute

19Making of applications

 An application to the Panel must be in the form approved by the Panel.

[19]Regulation 20

omit

by the Commission

[20]Paragraph 20 (a)

omit

to hold an inquiry

insert

to conduct proceedings

[21]Paragraph 20 (b)

omit

to hold an inquiry

insert

to conduct proceedings

[22]Subparagraph 20 (b) (i)

omit

inquiry

insert

Panel proceedings

[23]Subparagraphs 20 (b) (ii) and (iii)

substitute

  • (ii)

    the issues to be addressed in submissions for the proceedings.

[24]Division 3, heading

substitute

Division 3Decisions to conduct proceedings

[25]Subregulation 21 (1)

omit

an inquiry

insert

proceedings

[26]Paragraph 21 (1) (b)

omit

made by the Commission

[27]Subregulation 21 (2)

omit

an inquiry

insert

proceedings

[28]Paragraph 21 (2) (b)

substitute

  • (b)

    notify the decision to each company and person to whom the relevant application relates; and

[29]Subregulation 22 (1)

omit

hold an inquiry, it must, within 5 business days

insert

conduct proceedings, it must,

[30]Paragraph 22 (1) (a)

omit

inquiry

insert

proceedings

[31]Subregulation 22 (2)

omit

hold an inquiry

insert

conduct proceedings

[32]Subregulation 22 (3)

omit everything before paragraph (a), insert

  • (3)

    The Panel must:

[33]Subregulation 23 (1)

omit

hold an inquiry

insert

conduct proceedings

[34]Subregulation 23 (2)

omit

inquiry

insert

proceedings

[35]Subregulation 23 (3)

substitute

  • (3)

    A notice may invite a person who is not a party to the proceedings to give, within a time allowed by the Panel, a written expression of interest in the proceedings:

    • (a)

      stating the nature of the interest of the person in the proceedings; and

    • (b)

      setting out the reasons why the Panel should consider a written submission of the person in relation to the proceedings.

[36]Subregulation 24 (2)

substitute

  • (2)

    If the Panel decides to consider the written submission of a person in the proceedings, the Panel must give to the person a copy of the brief for the proceedings.

[37]Subregulation 24 (4)

omit

inquiry

insert

proceedings

[38]Regulation 25

substitute

25Submissions

 A submission made by a person to proceedings of the Panel must:

  • (a)

    be in the form approved by the Panel; and

  • (b)

    if the Panel has given to the person a copy of the brief and invited the person to comment on an issue identified in the brief, address that issue.

[39]Paragraph 26 (1) (a)

substitute

  • (a)

    is not in accordance with regulation 25; or

[40]Subregulation 26 (2)

omit

inquiry

insert

proceedings

[41]Subregulations 28 (1) and (2)

substitute

  • (1)

    A submission for Panel proceedings must be lodged with the Panel within the time allowed by the Panel.

  • (2)

    As soon as practicable after the Panel receives a submission, the Panel must give a copy of the submission to each party.

[42]Subregulation 28 (3)

omit

Subject to subregulation (4), a person

insert

A person

[43]Subregulation 28 (4)

omit

[44]Subregulation 28 (5)

omit

under subregulation (3)

[45]Regulation 29

omit

[46]Subregulations 30 (1), (2), (3) and (4)

substitute

  • (1)

    At any time during Panel proceedings, the Panel may request a party to lodge with the Panel a submission that addresses a matter specified in the request.

  • (2)

    The Panel may give a copy of the submission to each party.

[47]Subregulation 30 (5)

omit everything before paragraph (a), insert

  • (3)

    The Panel may direct a person who receives a copy of a submission to lodge, at or before a time specified in writing by the Panel, with the Panel not more than 1 submission that:

[48]Regulations 31, 32 and 33

omit

[49]Regulation 34

omit

proceed with the inquiry

insert

continue with the proceedings

[50]Subregulation 35 (1)

omit

in an inquiry

insert

during Panel proceedings

[51]Paragraph 35 (1) (a)

omit

inquiry

insert

proceedings

[52]Subparagraph 35 (1) (b) (i)

omit

inquiry

insert

proceedings

[53]Paragraph 35 (1) (c)

omit

inquiry

insert

proceedings

[54]Subregulation 35 (2)

omit

an inquiry

insert

Panel proceedings

[55]Regulation 36

omit

[56]Subregulation 37 (1)

substitute

  • (1)

    The President may convene a conference.

[57]Paragraph 37 (2) (b)

substitute

  • (b)

    must give written notice of that time and place to each party.

[58]Subregulation 38 (1)

omit

, except a person who is entitled under subsection 194 (4) of the Act to attend a conference to assist another person,

[59]Paragraph 38 (4) (c)

omit

inquiry

insert

proceedings

[60]Subregulation 39 (2)

omit

subregulations (3) and (4)

insert

subregulation (3)

[61]Subregulations 39 (3) and (4)

substitute

  • (3)

    If the Panel invites a person at a conference to address the Panel on a matter, the person may address the Panel on the matter at the conference.

[62]Regulation 41

omit

seriously

[63]Regulation 43

substitute

43Allowances and expenses payable for attendances

 For the purposes of subsection 192 (6) of the Act (which provides for allowances and expenses to be paid in relation to Panel proceedings), a person who appears at Panel proceedings in response to a summons issued under section 192 of the Act is entitled to be paid allowances and expenses in accordance with Schedule 2.

Notes

1. These Regulations amend Statutory Rules 1990 No. 454, as amended by 1993 No. 208; 1994 Nos. 301 and 443; 1998 No. 294; 1999 No. 190.

2. Notified in the Commonwealth of Australia Gazette on 10 March 2000. 

Actions
Download as PDF Download as Word Document
Cases Citing This Decision

0

Cases Cited

0

Statutory Material Cited

0