Financial Corporations (Statistics) Regulations (Amendment) (Cth)
REGULATIONS UNDER THE FINANCIAL CORPORATIONS ACT 1974.*
I,
THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice
of the Federal Executive Council, hereby make the following Regulations under
the
Dated this nineteenth day of August, 1976.
JOHN R. KERR
Governor-General.
By His Excellency’s Command,
ERIC ROBINSON
Minister of State for Post and Telecommunications
for and on behalf of the Treasurer.
Amendments of the Financial Corporations (Statistics) Regulations
“ Part I—Preliminary ”.
“ 1a. In these Regulations, “ the Act ” means the
“ Part II—Periodical Statement of Financial Operations, Assets and
Selected Liabilities ”.
(a) by omitting from sub-regulation (1) the words “ These Regulations apply ” and substituting the words “ This Part applies ”; and
(b) by omitting from sub-regulation (2) the words “ these Regulations apply ” and substituting the words “ this Part applies ”.
* Notified in the
Statutory Rules 1976, No. 101.
(a) by omitting from paragraph (a) the words “ these Regulations apply ” and substituting the words “ this Part applies ”; and
(b) by omitting from paragraph (b) the words “ these Regulations apply ” (wherever occurring) and substituting the words “ this Part applies ”.
(a) by omitting from sub-regulation (1) the words “ these Regulations apply ” and substituting the words “ this Part applies ”; and
(b) by omitting from sub-regulation (2) the words “ these Regulations apply ” and substituting the words “ this Part applies ”.
“ Part III—Quarterly Statements of Assets and Selected Liabilities
“ 6. (1) This Part applies to a registered corporation—
(a) the sum of the values of all the assets of which in Australia does not exceed 55,000,000; and
(b) that is not included in the category for retailers.
“ (2) For the purposes of determining whether a registered corporation is a registered corporation to which this Part applies, the values of the assets of the corporation at any time are the values of those assets as determined in accordance with the methods by which the values of assets were ascertained for the purposes of the audited balance sheet of the corporation that was at that time the most recent audited balance sheet of the corporation.
“ 7. For the purposes of section 11 of the Act where, at the commencement of this Part, a corporation is not a registered corporation to which this Part applies and the corporation subsequently becomes a registered corporation to which this Part applies (whether at the time of its incorporation or at a later time and whether or not the corporation has previously been a registered corporation to which this Part applies) the corporation shall, before the expiration of the period of 30 days after the day on which it becomes a registered corporation to which this Part applies, furnish to the Reserve Bank a statement in accordance with Form 3 in the Schedule.
“ 8. (1) For the purposes of section 11 of the Act, a registered corporation to which this Part applies shall—
(a) within the period of 21 days after the last day of the first quarter ending after the corporation becomes such a corporation (whether or not that corporation has previously been such a corporation); and
(b) within the period of 21 days after the last day of each successive quarter,
furnish to the Reserve Bank and to the Statistician a Quarterly Statement of Assets and Selected Liabilities in accordance with Form 4 in the Schedule.
“ (2) The first quarter ending after a corporation becomes a registered corporation to which this Part applies is the quarter that commences or commenced on a day specified by the Reserve Bank in relation to the corporation, being a day—
(a) in the case of a corporation that is a corporation to which this Part applies on the commencement of the Part—not earlier than 15 June 1976 and not later than 30 September 1976; and
(b) in any other case—not earlier than the day on which the corporation became a corporation to which this Part applies and not later than 95 days after the day on which the corporation furnishes to the Reserve Bank the statement referred to in regulation 7.
“ (3) A quarter (other than a quarter referred to in sub-regulation (2)) in relation to the corporation commences on the day next succeeding the last day of the immediately preceding quarter in relation to the corporation.
“ (4) Each quarter in relation to a corporation shall be of such duration, being not less than 78 days nor more than 108 days, as the Reserve Bank specifies in relation to the corporation.
“ 9. (1) For the purposes of the application of these Regulations in relation to the furnishing of a statement referred to in sub-regulation 8 (1), any 2 or more corporations that are related to each other and are included in the same category may, with the consent in writing of the Reserve Bank or the Statistician, be treated as constituting a single corporation.
“ (2) Where, in pursuance of sub-regulation (1), the Reserve Bank or the Statistician consents to 2 or more corporations being treated as constituting a single corporation, any transactions between those corporations shall be disregarded in the completion of a statement referred to in sub-regulation 8 (1) made jointly in respect of those corporations.”.
(2) The Schedule to the Financial Corporations (Statistics) Regulations is amended by adding at the end thereof the following forms:—
Form 3
Regulation 7
Commonwealth of Australia
STATEMENT IN PURSUANCE OF REGULATION 7 OF THE FINANCIAL
CORPORATIONS (STATISTICS) REGULATIONS
In pursuance of regulation 7 of the Financial Corporations (Statistics) Regulations, states that on......................................... 19 it became a (name of corporation)
corporation to which Part III of the Financial Corporations (Statistics) Regulations applies.
Dated this day of 19
(Signature of a senior officer of the Corporation)
Form 4
Regulation 8
Commonwealth of Australia
/ /19 .
Name of Registered Corporation:................................................................................................................................................................................
1
(a) a reference to a bank is to be read as a reference to—
(i) a bank within the meaning or the
Banking Act 1959; or(ii) a bank constituted by a State Act;
(b) a reference to a contingent asset is to be read as a reference to an asset which would, on the happening of a future event that may or may not happen, become an asset of the corporation making this statement;
(c) a reference to a marketable security is to be read as a reference to an instrument of title commonly exchanged on the financial markets in Australia;
(d) a reference to a quarter shall be read as a reference to the first quarter, or a successive quarter, as the case requires, within the meaning of regulation 8 of the Financial Corporations (Statistics) Regulations;
(e) a reference to a resident is to be read as a reference to—
(i) a person, not being a body corporate, who is ordinarily resident in Australia; or
(ii) a body corporate that is incorporated in Australia;
(f) where a body corporate that is a resident has a place of business outside Australia, the body corporate shall be deemed not to be resident in relation to the affairs of the body corporate conducted by the body corporate at or through that place of business, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business;
(g) where a body corporate that is not a resident has a place of business in Australia, the body corporate shall be deemed to be a resident in relation to the affairs of the body corporate conducted by the body corporate at or through that place of business, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business; and
(h) the question whether corporations are related to each other shall be determined in the same manner as the question whether corporations are related to each other is determined under the
Companies Ordinance 1962 of the Australian Capital Territory or, if that Ordinance is amended, under that Ordinance as amended.2.All amounts entered in this statement are to be expressed in Australian currency. If an amount in respect of an asset or liability realizable or payable in a currency other than Australian currency is to constitute or be included in any amount entered in an item in the statement, the value of the asset or liability is to be included in the statement at the equivalent in Australian currency calculated at the rate of exchange used in determining the value of the asset or liability for the accounts of the corporation as those accounts stood at the end of the quarter.
3. For the purpose of completing this statement—
(a) an amount that would, but for this direction, be shown as an amount of less than $500, shall be disregarded;
(b) an amount that would, but for this direction, be shown as an odd multiple of $500, shall be shown to the next succeeding multiple of $1,000; and
(c) other amounts shall be shown to the nearest $1,000.
4.A reference in Part I to a direction shall be read as a reference to a special direction.
Part I
ASSETS AND SELECTED LIABILITIES
$’000 | ||
| .......................... | 1.Building societies with a fixed share capital are to include so much of their paid up capital as is not available to their shareholders for individual withdrawal by them. All other moneys received by building societies for the issue of shares and all moneys received by credit unions for the issue of shares are to be included in the amount entered in item 2 |
| .......................... | 2.(1) Include borrowings made by all means whatsoever, other than borrowings from the Reserve Bank. (2) Do not include interest that has accrued on borrowings but is not yet payable. (3) Credit unions are to include all moneys received for the issue of shares. (4) Building societies are to include all moneys received for the issue of shares, being moneys that are available to shareholders for individual withdrawal by them. (5)
Building societies that do not advance funds on a |
| .......................... | 3. Do not include borrowings made by the issue of bills of exchange drawn by the corporation that have been— (a) accepted by a related corporation; or (b) accepted by a person other than the corporation and are payable to a related corporation. |
| .......................... | 4. (1) Include deposits and other placements of funds made with the corporation by banks. (2) Do not include borrowings made by the issue of bills of exchange drawn by the corporation that have been— (a) accepted by a bank; or (b) accepted by a person other than the corporation and are payable to a bank. |
| .......................... | 5.(1) Include all other borrowings from residents (including borrowings made through deposits) not included elsewhere. (2) Include all bills of exchange payable by the corporation except— (a) bills accepted by it that have been purchased by it and are being held by the corporation;
|
| .......................... |
Form
4—
$’000 | ||
6. (1) Include only the value of assets in Australia in the amounts entered in items 4 to 11 (inclusive). | ||
| ........................ | (2) Do not include the value of contingent assets in the amounts entered in items 4 to 13 (inclusive). (3) Do not include unearned income in the amounts entered in items 4 to 9 (inclusive). (4) Corporations that include in their accounts interest that has accrued but is not yet payable are to exclude that interest from the amounts entered in items 7 to 9 (inclusive) but are to include it in the amount entered in item 10. |
| ........................ | 7. (1) Include only moneys placed with authorized dealers in the short term money market, and moneys placed through short term financial markets that were, at the end of the quarter repayable at call or within 90 days. (2) Do not include moneys placed with banks, with related corporations, or in securities issued by the Commonwealth, a State or an authority of the Commonwealth or of a State or moneys payable to the corporation on bills of exchange. |
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| ........................ | 8. (1) Do not include the amounts of bills in respect of which the corporation is the acceptor. (2) Do not include the amounts of bills held where the corporation is also the drawer. The amounts of these bills are to be included in the amount entered in item 9. |
| 9.(1) Include all forms of marketable securities and shares of all kinds. (2) Do not include securities the values of which are to be included in the amounts entered in items 4, 5, 6 and 7. | |
| ........................ | 10. (1) Include the value of shares in, and marketable securities issued by, related corporations (2) Do not include the value of deposits with related corporations that are banks. The value of these deposits is to be included in item 4. (3) Do not include loans to, or deposits with, related corporations in respect of which marketable securities are not issued. The amounts of these loans and deposits are to be included in the amount entered in sub-item 9 (1). |
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| 11. (1) Include in this item all assets arising from the provision of finance that are not included in any other item. The amounts of loans that have options that permit the loans to be refinanced |
by the borrowers issuing bills drawn by them on the corporation are to be included in this item whether or not the options have been exercised and the bills sold. (2) In calculating the amounts to be entered in this item no allowance for doubtful debts is to be made. Any allowance for doubtful debts is to be deducted in calculating the amount to be entered in item 10. (3) Building societies that
do not advance money on a | ||
(1) Loans to and deposits with related
corporations ( | ........................ | 12. Do not include loans and advances to, or deposits with, related corporations that are banks or authorized dealers in the short term money market. |
(2) Loans and advances to individuals
to finance housing ( | ........................ | 13.(1) Include loans and advances made to individuals for the purchase or construction of houses, flats or home units intended for occupation by those individuals or for making alterations or additions to existing housing occupied by those individuals. (2) Do not include loans or advances made to individuals to finance the purchase of residential blocks of land. The amounts of these loans or advances are to be included in sub-item 9 (3). (3) Do not include loans or advances made to finance the purchase of land for the purpose of sub-division. The amounts of these loans or advances are to be included in sub-item 9 (4). (4) If the corporation is, in making this statement, unable to separate moneys lent or advanced to individuals to finance housing from other moneys lent or advanced to individuals because all loans and advances made by the corporation are made on the same terms and conditions, then the total of all loans and advances made by the corporation to individuals is to be included in sub-item 9 (3). |
(3) Instalment credit to finance retail
sales and other loans and advances to individuals ( | ........................ | 14.(1) Include hire-purchase transactions, time-payment transactions and other arrangements under which finance is provided for goods sold to individuals in retail transactions. (2) Where the corporation is engaged in selling goods by retail, amounts due on customer accounts in respect of goods sold on terms under which payment in full for the goods is required to be made within 3 months after the date of sale are to be excluded from this item and included in item 10. (3) Do not include instalment credit, a loan or an advance granted to an individual for use in connection with a business carried on by him. The amounts of such credit, loans and advances are to be included in sub-item 9 (4). |
(4) Other loans, advances and deposits
and purchased book debts ( | ........................ | 15. (1) Include all loans, advances and deposits not included elsewhere. (2) Include amounts payable to the corporation under wholesale financing agreements that provide finance to wholesalers and retailers for the acquisition of trading stock under bailment or other floor plan schemes. |
Form 4—
$’000 | ||||
(3) Include the outstanding balances of all book debts purchased by the corporation adjusted for amounts payable after collection of the debts to persons from whom the debts were purchased. (4) Include amounts payable to the corporation under agreements for the leasing of goods. In calculating the amount to be entered in this item include the gross amounts payable under the agreements together with the residual value of the goods leased, where this value is specified in the agreements, and deduct unearned income. (5) Do not include amounts due from trade debtors for the sale of goods or the provision of services where payment in full for the goods or services is required before the expiration of 3 months from the day on which the contract for their sale or provision is entered into. These amounts are to be included in item 10. | ||||
10. All other assets in Australia ( | ........................ | 16. Include all assets in Australia the values of which have not been included in any other amount entered in Part I of this statement; include in particular the value of land, buildings, other fixed assets, amounts payable to the corporation under leases of real property, buildings or areas of buildings, goods on hand, amounts due from trade debtors for the sale of goods or the provision of services being amounts not included in sub-item 9 (4) and, in the case of corporations engaged in the sale of goods by retail, amounts due on customer charge accounts not included in sub-item 9 (3). | ||
11. Total assets in Australia (being assets in items 4 to 10 inclusive) | ........................ | |||
12. Overseas assets including loans and advances to persons who are not residents | ........................ | |||
13. Total Australian and overseas assets | ........................ | |||
Part II 14. Revaluations during the quarter Specify all revaluations of assets and liabilities made in the corporation’s books of account during the quarter where the value of the assets and liabilities revalued affect an amount entered in Part I, Include revaluations of assets and liabilities which have occurred due to changes in the methods of valuation used or due to changes in the exchange rates of foreign currencies. | ||||
Asset or liability | Item or sub-item in which the amount or value of the asset or liability is included | Amount of change in valuation (indicate “ plus ” or “ minus ”) $’000 | ||
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