Corporations Regulations (Amendment) (Cth)

Statutory Rules 1994

No. 221 1

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Corporations Regulations 2(Amendment)

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Corporations Act 1989.

Dated 27 June 1994.

 

 BILL HAYDEN

 Governor-General

By His Excellency’s Command,

  

M. LAVARCH

Attorney-General

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1.   Commencement

1.1   These Regulations commence on 1 July 1994.

2.   Amendment

2.1   The Corporations Regulations are amended as set out in these Regulations.

3. Regulation 7.12.04 (Exempt rights or interests:

definition of prescribed interest in section 9 of the Corporations Law)

3.1   Paragraph 7.12.04 (c):

Omit the paragraph, substitute:

• “(c)

  rights or interests in a trust, or proposed trust, that is not a regulated superannuation fund, or a proposed regulated superannuation trust fund, within the meaning of the Superannuation Industry (Supervision) Act 1993, unless:

  • (i)

    the governing rules of the trust or proposed trust, relate to a scheme promoted by or on behalf of a person, or an associate of a person, whose ordinary business is or includes the promotion of similar schemes, whether or not that person is, or is to become, a party to those rules, or a beneficiary of that trust or proposed trust; or

  • (ii)

    except in the case of a trust that was in existence on 5 July 1991, the governing rules of the trust or proposed trust provide, or will provide, for more than 15 beneficiaries;

• (d)

  except for the purposes of Parts 7.3 to 7.6 (inclusive) of Chapter 7 of the Corporations Law, rights or interests in:

  • (i)

    a regulated superannuation fund; or

  • (ii)

    an approved deposit fund; or

  • (iii)

    a pooled superannuation trust;

 within the meaning of the Superannuation Industry (Supervision) Act 1993.”.

4. Regulation 7.12.05 (Excluded issues:

paragraph 66 (2) (n) of the Corporations Law)

4.1   Paragraph 7.12.05 (b):

Omit the paragraph.

4.2   Paragraph 7.12.05 (d):

Omit the paragraph.

5.   Regulation 7.12.06 (Excluded offers or invitations: paragraph 66 (3) (k)

5.1   Paragraph 7.12.06 (c):

Omit the paragraph.

5.2   Paragraph 7.12.06 (e):

Omit the paragraph.

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NOTES

1. Notified in the Commonwealth of Australia Gazette on 30 June 1994.

2. Statutory Rules 1990 No. 455 as amended by 1991 Nos. 218, 219, 281 and 341; Act No. 200; Statutory Rules 1991 Nos. 453, 478 and 479; 1992 Nos. 230, 281, 364, 395 and 450; 1993 Nos. 135, 207 and 277; 1994 Nos. 35, 108 and 153.