Corporations (Fees) Amendment Regulations 2003 (No. 3) (Cth)

Corporations (Fees) Amendment Regulations 2003 (No. 3)1

Statutory Rules 2003 No. 2412

I, PHILIP MICHAEL JEFFERY, 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 and the Corporations Act 2001.

Dated 11 September 2003

P. M. JEFFERY

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 2003 (No. 3).

2Commencement

These Regulations are taken to have commenced on 1 July 2003.

3Amendment of Corporations (Fees) Regulations 2001

Schedule 1 amends the Corporations (Fees) Regulations 2001.

Schedule 1Amendments

(regulation 3)

  

[1]Regulation 1B

substitute

1BDefinitions

In these Regulations:

Act means the Corporations (Fees) Act 2001.

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.

Corporations Act means the Corporations Act 2001.

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

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

[2]Regulation 2

omit

the Act.

insert

the Corporations Act.

[3]Regulation 3

omit

the Corporations (Fees) Act 2001

insert

the Act

[4]Subregulation 5 (1)

omit

subsection 798C (2) of the Act:

insert

subsection 798C (2) of the Corporations Act:

[5]Paragraph 5 (1) (d)

omit

subsection 798C (2) of the Act;

insert

subsection 798C (2) of the Corporations Act;

[6]Subregulation 5 (1), the notes

substitute

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

Note 2 The fees in this subregulation are subject to limits imposed by section 6 of the Act.

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

[7]Subregulation 5 (2)

omit

subsection 798C (4) of the Act:

insert

subsection 798C (4) of the Corporations Act:

[8]Paragraph 5 (2) (d)

omit

section 228 of the Act;

insert

section 228 of the Corporations Act;

[9]Subregulation 5 (2), the notes

substitute

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

Note 2 The fees in this subregulation are subject to limits imposed by section 6 of the Act.

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

[10]Paragraph 5 (4) (a)

omit

subsection 798C (2) or (4) of the Act; and

insert

subsection 798C (2) or (4) of the Corporations Act; and

[11]Subregulation 5 (4), the notes

substitute

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

Note 2 The fees in this subregulation are subject to limits imposed by section 6 of the Act.

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

[12]Subregulation 6 (1)

omit

subsection 798E (1) of the Act.

insert

subsection 798E (1) of the Corporations Act.

[13]Subregulation 6 (1), the notes

substitute

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

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

[14]After regulation 6

insert

7Waiver of fees for late lodgment of documents for certain classes of companies

1. (1)

   For section 1359 of the Corporations Act, a fee under item 28 of Schedule 1 that would otherwise be payable in relation to the late lodgment of a notice under subsection 142 (2), 146 (1), 205B (1), (2), (4) or (5), 205D (3), 254X (1), 254Y (1) or 349A (1) of the Corporations Act is waived for a class of companies each of which lodges the notice:

   1. (a)

      using Form 484; and

   2. (b)

      after 30 June 2003 and before 1 November 2003.

2. (2)

   For section 1359 of the Corporations Act, a fee under item 28 of Schedule 1 that would otherwise be payable in relation to the late lodgment of a response to an extract of particulars under subsection 346C (1) of the Corporations Act is waived for a class of companies the review date for each of which is after 30 June 2003 and before 1 October 2003, if the response is lodged:

   1. (a)

      using Form 484; and

   2. (b)

      before 1 November 2003.

(3) For section 1359 of the Corporations Act, a fee under item 28 of Schedule 1 that would otherwise be payable in relation to the late lodgment of a notice of an addition or alteration mentioned in subsection 178A (1) of the Corporations Act is waived for a class of companies each of which gives notice of the addition or alteration in responding to an extract of particulars issued after 30 June 2003 and before 1 July 2004, if the response is lodged:

1. (a)

   using Form 484; and

2. (b)

   in accordance with section 346C of the Corporations Act.

Note 1 Under subsection 346C (4) of the Corporations Act, if a company responds to an extract of particulars to correct or provide a particular in accordance with subsection 346C (3) of the Corporations Act, any requirement elsewhere in the Corporations Act to lodge a prescribed form in relation to the particular is satisfied by the response.

Note 2 Form 484 is a form approved by ASIC under paragraph 350 (1) (b) of the Corporations Act and is available from the ASIC website: 1

omit each mention of

of the Act

Notes

1. These Regulations amend Statutory Rules 2001 No. 194, as amended by 2001 No. 320; 2002 Nos. 42 and 146; 2003 Nos. 128 and 159.

2. Notified in the Commonwealth of Australia Gazette