Corporations (Fees) Amendment Regulations 2002 (No. 1) (Cth)

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Corporations (Fees) Amendment Regulations 2002 (No. 1)1

Statutory Rules 2002 No. 422

I, PETER JOHN HOLLINGWORTH, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Corporations (Fees) Act 2001.

Dated 28 February 2002

PETER HOLLINGWORTH

Governor-General

By His Excellency’s Command

IAN CAMPBELL

Parliamentary Secretary to the Treasurer

1Name of Regulations

 These Regulations are the Corporations (Fees) Amendment Regulations 2002 (No. 1).

2Commencement

 These Regulations commence at 12.01 am (in the Australian Capital Territory) on 11 March 2002.

3Amendment of Corporations (Fees) Regulations 2001

Schedule 1 amends the Corporations (Fees) Regulations 2001.

Schedule 1Amendments

(regulation 3)

  

[1]Regulation 1B, after definition of Act

insert

ASIC Act means the Australian Securities and Investments Commission Act 2001.

ASIC staff member means a staff member within the meaning of the ASIC Act.

member of ASIC means a member of ASIC under Part 5 of the ASIC Act.

Note Expressions that are defined in theCorporations Act 2001 have the same meanings in these Regulations: see subsection 4 (2) of the Corporations (Fees) Act 2001.

[2]Regulation 3, at the foot

insert

Note   Other fees are set out in regulations 5 and 6.

[3]After regulation 4

insert

5Listing of market licensee on its own market

  • (1)

    For section 5 of the Act, the fee set out in subregulation (3) is prescribed for the performance by a member of ASIC, or an ASIC staff member, of the following functions under subsection 798C (2) of the Act:

    • (a)

      reviewing and providing consent to an application for waiver of an operating rule relating to a clearing and settlement facility operated by a market licensee or an associate of the market licensee in respect of the securities of the market licensee;

    • (b)

      undertaking an inquiry about compliance with any operating rule of the clearing and settlement facility mentioned in paragraph (a) which relates to securities of the market licensee;

    • (c)

      taking action to ensure compliance with the operating rules of the clearing and settlement facility mentioned in paragraph (a) following an inquiry under paragraph (b);

    • (d)

      an inquiry about compliance with an arrangement of the kind mentioned in subsection 798C (2) of the Act;

    • (e)

      taking action to ensure compliance with the arrangement following an inquiry under paragraph (d).

Note 1   These functions are mentioned in paragraph (k) of the definition of chargeable matter in subsection 4 (1) of the Corporations (Fees) Act 2001. Expressions that are defined in the Corporations Act 2001 have the same meanings in these Regulations: see subsection 4 (2) of the Corporations (Fees) Act 2001.

Note 2 The fees in this subregulation are subject to limits imposed by section 6 of the Corporations (Fees) Act 2001.

Note 3 Paragraph 7 (1) (k) of the Corporations (Fees) Act 2001 identifies the person liable to pay the fee and the time at which the liability to pay the fee is incurred.

  • (2)

    For section 5 of the Act, the fee set out in subregulation (3) is prescribed for the performance by a member of ASIC, or an ASIC staff member, of the following functions in accordance with listing rules mentioned in subsection 798C (4) of the Act:

    • (a)

      processing and considering the admission of a licensee to a market’s official list;

    • (b)

      processing and considering an application for waiver of a listing rule applying to the market licensee;

    • (c)

      processing and considering the quotation of additional securities of the market licensee;

    • (d)

      processing and considering a transaction involving a related party of the market licensee within the meaning of section 228 of the Act;

    • (e)

      processing and considering an application for requotation of securities of the market licensee;

    • (f)

      processing and considering a transaction relating to the proposed change of the nature or scale of activities of the market licensee;

    • (g)

      processing and considering a transaction relating to a proposed merger or acquisition involving the market licensee;

    • (h)

      conducting an inquiry about compliance by the market licensee with a listing rule;

    • (i)

      taking action to ensure compliance with the listing rule following an inquiry under paragraph (h).

Note 1   These functions are mentioned in paragraph (k) of the definition of chargeable matter in subsection 4 (1) of the Corporations (Fees) Act 2001. Expressions that are defined in the Corporations Act 2001 have the same meanings in these Regulations: see subsection 4 (2) of the Corporations (Fees) Act 2001.

Note 2 The fees in this subregulation are subject to limits imposed by section 6 of the Corporations (Fees) Act 2001.

Note 3 Paragraph 7 (1) (k) of the Corporations (Fees) Act 2001 identifies the person liable to pay the fee and the time at which the liability to pay the fee is incurred.

  • (3)

    The fee is:

  • (4)

    For section 5 of the Act, if:

    • (a)

      ASIC performs 1 or more functions in a period described in subregulation (5) in accordance with subsection 798C (2) or (4) of the Act; and

    • (b)

      none of the functions is mentioned in subregulation (1) or (2);

a fee of $5 000 is prescribed for all of the functions of that kind performed in the period.

Note 1   These functions are mentioned in paragraph (k) of the definition of chargeable matter in subsection 4 (1) of the Corporations (Fees) Act 2001. Expressions that are defined in the Corporations Act 2001 have the same meanings in these Regulations: see subsection 4 (2) of the Corporations (Fees) Act 2001.

Note 2 The fees in this subregulation are subject to limits imposed by section 6 of the Corporations (Fees) Act 2001.

Note 3 Paragraph 7 (1) (k) of the Corporations (Fees) Act 2001 identifies the person liable to pay the fee and the time at which the liability to pay the fee is incurred.

  • (5)

    For paragraph (4) (a), the periods are:

    • (a)

      the period starting when this subregulation commences and ending at the end of 30 April 2002; and

    • (b)

      the period starting on 1 May 2002 and ending at the end of 30 June 2002; and

    • (c)

      each subsequent period of 2 calendar months.

6Making decisions and taking action in conflict, or potential conflict, situation

  • (1)

    For section 5 of the Act, the fee set out in subregulation (2) is prescribed for the performance by ASIC of a function required or permitted by regulations made for subsection 798E (1) of the Act.

Note 1   These functions are mentioned in paragraph (l) of the definition of chargeable matter in subsection 4 (1) of the Corporations (Fees) Act 2001. Expressions that are defined in the Corporations Act 2001 have the same meanings in these Regulations: see subsection 4 (2) of the Corporations (Fees) Act 2001.

Note 2 Paragraph 7 (1) (l) of the Corporations (Fees) Act 2001 identifies the person liable to pay the fee and the time at which the liability to pay the fee is incurred.

  • (2)

    The fee is:

[4]Schedule 1, items 1, 1A and 2

substitute

1

On application under section 913A of the Act for an Australian financial services licence (if sections 1433 and 1434 of the Act do not apply):

(a)

using the ASIC eLicensing service:

  • (i)

    by a body corporate, partnership or non-corporate trustee

$240

  • (ii)

    by a natural person

$150

(b)

in any other form:

  • (i)

    by a body corporate, partnership or non-corporate trustee

$480

  • (ii)

    by a natural person

$300

Note   See also items 45 and 47.

1A

On application under paragraph 914A (2) (b) of the Act for imposition, variation or revocation of conditions on an Australian financial services licence (if regulation 10.2.37 of the Corporations Regulations 2001 does not apply):

(a)

using the ASIC eLicensing service

$200

(b)

in any other form

$250

Note See also item 46.

1B

On lodging a notice under subsection 916F (1) of the Act:

 (a) within 10 business days of an Australian financial services licence taking effect

no fee

 (b) at any other time:

  • (i)

    using the ASIC eLicensing service

$30

  • (ii)

    in any other form

$60

Note   A notice might contain details of more than 1 representative authorised by a person.

1C

On lodging a notice under subsection 916F (3) of the Act (which requires a notice to be lodged if there are any changes to the details required in subsection 916F (2), or if the authorisation of a representative is revoked under section 916A or 916B of the Act):

 (a) using the ASIC eLicensing service

$20

 (b) in any other form

$40

Note    A notice might contain:

(a) changes in details relating to more than 1 authorised representative; or

(b) revocations of more than 1 authorisation of a representative.

[5]Schedule 1, after item 4

insert

4A

On application for exemption from the requirement to hold an Australian financial services licence under paragraph 911A (2) (l) of the Act:

 (a) by a body corporate, partnership or non‑corporate trustee

$240

 (b) by a natural person

$150

[6]Schedule 1, after item 9

insert

9AA

On lodging a profit and loss statement and balance sheet under subsection 989B (2) of the Act:

 (a) by a body corporate, partnership or non‑corporate trustee

$300

 (b) by a natural person

$120

[7]Schedule 1, item 15, column 2

insert

On giving an exemption under subsection 791C (1) of the Act in relation to a particular financial market or type of financial market

$1 200

On giving an exemption under subsection 820C (1) of the Act in relation to a particular clearing and settlement facility or type of clearing and settlement facility

$1 200

[8]Schedule 1, after item 27

insert

27A

On application by a financial services licensee to ASIC for ASIC’s consent to remove an auditor of the licensee from office under paragraph 990F (b) of the Act

no fee

27B

On application for a declaration under subsection 765A (2) of the Act that a specified facility, interest or other thing is not a financial product for the purposes of Chapter 7 of the Act

$400

27C

On application under subparagraph 911A (2) (h) (ii) of the Act or paragraph 7.9.08 (1) (a) of the Corporations Regulations 2001 for approval of an overseas or foreign regulatory body

no fee

27D

On application for exemption or a declaration under sections 951B, 992B, 1020F, 1075A 1437, 1442 or 1445 of the Act

$250

27E

On application for a declaration under paragraph 1071H (5) (d) of the Act that a company is not required to comply with section 1071H of the Act

$250

27F

On application under subregulation 7.8.02 (6C) of the Corporations Regulations 2001 that the minimum balance of moneys held in an account to which section 981B of the Act relates may be reduced below the amount required by subregulation 7.8.02 (6) of those Regulations

$250

27G

On application under paragraph 7.8.16 (4) (b) of the Corporations Regulations 2001 that a person is not an officer of a body corporate for the purposes of subregulations 7.8.16 (1) and (2) of those Regulations

$250

27H

On application under subparagraph 7.9.32 (2) (a) (ii) of, or Part 16 of Schedule 10A to, the Corporations Regulations 2001 for an extension of fund reporting periods

$250

[9]Schedule 1, item 31A

omit

· the register in respect of declared professional bodies mentioned in subsection 922A (2) of the Act:

(a)

if requested by or on behalf of the Australian Broadcasting Corporation, the Special Broadcasting Service, the Australian Bureau of Statistics, the holder of a licence for a commercial broadcasting or television station or the proprietor or publisher of a newspaper generally available to the public otherwise than by subscription

no fee

(b)

in any other case

$8

[10]Schedule 1, item 39, column 2

omit

6D, 7 or 8

insert

6D and 7

[11]Schedule 1, item 43, column 2

omit

unlisted

[12]Schedule 1, item 43, column 2

omit

subsection 1001B (1)

insert

subsection 675 (2)

[13]Schedule 1, after item 44

insert

45

On giving notice by an auditor of a financial services licensee to ASIC under paragraph 990G (1) (a) of the Act

no fee

46

On lodging any document under subsection 912C (1), 912D (1), 912D (2) or 912E (2), or paragraph 913B (1) (ca), of the Act

no fee

Legislative streamlining

47

On application under section 913A of the Act for an Australian financial services licence (if section 1433 of the Act applies):

(a)

using the ASIC eLicensing service:

  • (i)

    by a body corporate, partnership or non-corporate trustee

$200

  • (ii)

    by a natural person

$100

(b)

in any other form:

  • (i)

    by a body corporate, partnership or non-corporate trustee

$400

  • (ii)

    by a natural person

$200

Note   See also item 1.

48

On application under paragraph 914A (2) (b) of the Act for the variation of conditions on an Australian financial services licence (if regulation 10.2.37 of the Corporations Regulations 2001 applies)

no fee

Note   See also item 1A.

Special licences for insurance multi-agents during first 2 years after FSR commencement

49

On application under section 913A of the Act for a qualified Australian financial services licence (if section 1434 of the Act applies):

(a)

using the ASIC eLicensing service

$150

(b)

in any other form

$200

50

On application under section 913A of the Act for an Australian financial services licence (if the person is the holder of a qualified Australian financial services licence):

(a)

using the ASIC eLicensing service

$100

(b)

in any other form

$150

Notes

1. These Regulations amend Statutory Rules 2001 No. 194, as amended by 2001 No. 320.

2. Notified in the Commonwealth of Australia Gazette

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