Corporations Amendment (Financial Services Information Lodgement Periods) Regulation 2015 (Cth)

Corporations Amendment (Financial Services Information Lodgement Periods) Regulation 2015

Select Legislative Instrument No. 135, 2015

I, the Honourable Paul de Jersey AC QC, Administrator of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation.

Dated 06 August 2015

Paul de Jersey

Administrator

By His Excellency’s Command

Josh Frydenberg

Assistant Treasurer

Contents

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

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

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

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

Schedule 1—Amendments                                                                            2

Corporations Regulations 2001                                                               2

1Name

This is the Corporations Amendment (Financial Services Information Lodgement Periods) Regulation 2015.

2Commencement

(1)Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1.  The whole of this instrument	The day after this instrument is registered.	14 August 2015

Note:This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

(2)Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3Authority

This instrument is made under the Corporations Act 2001.

4Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

Corporations Regulations 2001

1  Paragraph 7.6.04(1)(c)

Omit “10 business days”, substitute “30 business days”.

2  After regulation 7.6.04

Insert:

7.6.04AA  Time limits for notification of authorised representatives—modification of section 916F of the Act

For paragraph 926B(1)(c) of the Act, Part 7.6 of the Act applies as if:

                    (a)  subsection 916F(1) were modified by omitting “15 business days” and substituting “30 business days”; and

                    (b)  subsection 916F(3) were modified by omitting “10 business days” and substituting “30 business days”.

3  Chapter 10 (heading)

Repeal the heading, substitute:

Chapter 10—Repeals, transitional matters and application provisions

4  After Part 10.20

Insert in its appropriate numerical position:

Part 10.22—Application provisions related to the Corporations Amendment (Financial Services Information Lodgement Periods) Regulation 2015

10.22.01  Application of amendment of paragraph 7.6.04(1)(c)

Paragraph 7.6.04(1)(c), as amended by the Corporations Amendment (Financial Services Information Lodgement Periods) Regulation 2015, applies in relation to:

                    (a)  an Australian financial services licence granted before, on or after the commencement of that regulation; and

                    (b)  a change mentioned in paragraph 7.6.04(1)(c) that occurs on or after 19 August 2015.

10.22.02  Application of modification of subsections 916F(1) and (3)

(1) Subsection 916F(1) of the Act, as modified by the Corporations Amendment (Financial Services Information Lodgement Periods) Regulation 2015, applies in relation to an authorisation of a representative to provide a financial service as mentioned in section 916A or 916B of the Act if the authorisation occurs on or after 19 August 2015.

(2) Subsection 916F(3) of the Act, as modified by the Corporations Amendment (Financial Services Information Lodgement Periods) Regulation 2015, applies in relation to each of the following events, if the event occurs on or after 19 August 2015:

(a) a change in any details relating to the representative that are required to be included in a notice under subsection 916F(2) of the Act;

(b) the revocation of an authorisation to which subsection 916F(1) of the Act applied.