Corporations (Fees) Amendment Regulations 2011 (No. 1) (Cth)

Corporations (Fees) Amendment Regulations 2011 (No. 1)¹

Select Legislative Instrument 2011 No. 129

I, QUENTIN BRYCE, 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 30 June 2011

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

BILL SHORTEN

Minister for Financial Services and Superannuation

Name of Regulations

These Regulations are the Corporations (Fees) Amendment Regulations 2011 (No. 1).

Commencement

These Regulations commence on 1 July 2011.

Application

The amendments made by items [9] and [12] of Schedule 1 do not apply in relation to the billing period starting on 1 April 2011.

Note Liability for fees in relation to that billing period is incurred on 1 July 2011.

Amendment of Corporations (Fees) Regulations 2001

Schedule 1 amends the Corporations (Fees) Regulations 2001.

Schedule 1 Amendments

(regulation 4)

[1] Paragraph 8 (1) (a)

substitute

(a)it is not:

(i)the financial market operated by Australian Securities Exchange Limited; or

(ii)the financial market operated by ASX Limited; or

(iii)the financial market operated by Chi-X Australia Pty Ltd; or

(iv)an exempt market;

[2] Paragraph 8 (2) (b)

omit

Corporations Act 2001).

insert

Corporations Act).

[3] Subregulation 8 (4)

omit

of the billing period following

insert

after

[4] Paragraph 8 (5) (a)

substitute

(a)it is not:

(i)a small financial market; or

(ii)the financial market operated by Australian Securities Exchange Limited; or

(iii)the financial market operated by ASX Limited; or

(iv)the financial market operated by Chi-X Australia Pty Ltd; or

(v)an exempt market;

[5] Paragraph 8 (6) (b)

omit

Corporations Act 2001).

insert

Corporations Act).

[6] Subregulation 8 (8)

omit

of the billing period following

insert

after

[7] Subregulation 8 (9), heading

substitute

ASX 24

[8] Subregulation 8 (9)

omit

Sydney Futures Exchange Limited

insert

Australian Securities Exchange Limited

[9] Paragraph 8 (9) (a)

omit

$138 750;

insert

$217 000;

[10] Paragraph 8 (9) (b)

omit

Corporations Act 2001).

insert

Corporations Act).

[11] Subregulation 8 (11)

omit

of the billing period following

insert

after

[12] Paragraph 8 (12) (a)

omit

$786 250;

insert

$860 000;

[13] Paragraph 8 (12) (b)

omit

Corporations Act 2001).

insert

Corporations Act).

[14] Subregulation 8 (14)

omit

of the billing period following

insert

after

[15] After subregulation 8 (14)

insert

Chi-X Australia

(14A)For subsection 6A (1) of the Act, if ASIC performs its functions under Part 7.2A (Supervision of financial markets) of the Corporations Act in relation to the financial market operated by Chi-X Australia Pty Ltd during a billing period:

(a)the fee for the initial billing period is worked out by:

(i)multiplying $46 000 by the number of days in the period starting on the day on which ASIC first performs its functions and ending at the end of the billing period; and

(ii)dividing the result by 92; and

(iii)rounding the result down to the nearest whole dollar; and

(b)the fee for a subsequent billing period is $46 000; and

(c)the fee is not imposed again if ASIC performs its functions during the billing period in relation to another market operated under the same Australian market licence (within the meaning of section 761A of the Corporations Act).

(14B)For subparagraph 7 (1) (m) (ii) of the Act, the time at which liability for the fee is incurred is the first day after the billing period in which ASIC performs its functions.

[16] Subregulation 8 (15), after definition of first billing period

insert

initial billing period, in relation to a financial market, means the billing period during which the market began operating.

Note

All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See