Securities Industry Regulations (Amendment) (Cth)

Statutory Rules 1983 No. 3031

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Securities Industry Regulations2

(Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting—

(a) with the advice of the Federal Executive Council, being advice that, as required by sub-section 150 (5) of the Securities Industry Act 1980, is consistent with resolutions of the Ministerial Council for Companies and Securities; and

(b) in pursuance of section 4 of the Acts Interpretation Act 1901, hereby make the following Regulations under the Securities Industry Act 1980.

Dated 8 December 1983.

N. M. STEPHEN

Governor-General

By His Excellency's Command,

  

Attorney-General

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Commencement

1. These Regulations shall come into operation on 1 January 1984.

2. After regulation 17 of the Securities Industry Regulations the following regulation is inserted:

Prescribed amount for the purposes of paragraph 51 (2) (d)

"17a. For the purposes of paragraph 51 (2) (d) of the Act, the prescribed amount is $20,000.".

Conditions to which licence is subject

3. Sub-regulation 18 (2) of the Securities Industry Regulations is amended by omitting "$20,000" and substituting "the amount prescribed for the purposes of paragraph 51 (2) (d) of the Act".

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S.R. 228/83

            Cat. No.  Recommended retail price 40c  76/10.11.1983

4. After regulation 48 of the Securities Industry Regulations the following regulation is inserted:

Prescribed offences and penalties

"49. (1) For the purposes of section 141a of the Act, a prescribed offence is an offence committed under or in relation to a provision of the Act, being a provision that is specified in Column 2 of Schedule 3.

"(2) For the purposes of section 141a of the Act, the prescribed penalty in respect of a prescribed offence is the penalty specified in Column 3 of Schedule 3 opposite the provision specified in Column 2 under or in relation to which the offence has been committed.".

Schedule 1

5. Schedule 1 to the Securities Industry Regulations is amended by adding at the end thereof the following form:

 

"SECURITIES INDUSTRY FORM 23 Section 141a,  sub-sections 150  (1a) and (1c)

Securities Industry Act 1980

PENALTY NOTICE

To (1).......................................................................................................................................................

It is alleged that at (2).......................................................................................................................................................on (3)........................................................................................................................................ 19........you committed an offence under or in relation to (4)................................................in that you(5)

    

Such an offence is a prescribed offence.

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2. Prescribed penalty: $...............

Payable to (6).......................................................................................................................................

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*3. (Applicable where the penalty notice relates to an offence constituted by a failure to do a particular act or thing) Take notice that

(a) the obligation to (7).......................................................................................................continues, notwithstanding the service of this notice or the payment of the prescribed penalty;

(8) (b) if, within 21 days after the date of service of this notice, you—

(i) pay the prescribed penalty to the authority specified in paragraph 2: and

(ii) (7)................................................................................................................................... no further action will be taken against you in relation to the offence particulars of which are set out in paragraph 1; and

(c) if. at the expiration of 21 days after the date of service of this notice, you—

(i) have not paid the prescribed penalty to the authority specified in paragraph 2: or

(ii) have not(7).........................................................................................................................

proceedings may be instituted against you.

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* 3. (Applicable where the penalty notice relates to an offence other than one constituted by a failure to do a particular act or thing) "Take notice that if, within 21 days after the date of service of this notice, you pay the prescribed penalty to the authority specified in paragraph 2, no further action will be taken against you in relation to the offence particulars of which are set out in paragraph 1.

If, at the expiration of 21 days after the date of service of this notice, you have not paid the prescribed penalty to the authority specified in paragraph 2, proceedings may be instituted against you.

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Given by ...........................................................................on behalf of the National Companies and Securities Commission at..................................................on this...................................................day of..............................19........

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* Strike out if inapplicable.

(1) Insert name of person alleged to have committed offence.

(2) Insert place.

(3) Insert date.

(4) Insert provision under or in relation to which the offence is alleged to have been committed.

(5) Set out particulars of alleged offence, including description of alleged conduct constituting the alleged offence.

(6) Insert name and address of Corporate Affairs Commission for the Territory.

(7) Insert a description of the particular act or thing that the person allegedly failed to do in committing the alleged offence.

(8) Payment of the penalty is not an admission of liability (see sub-section 141a (6)).".

Schedule 3

6. The Securities Industry Regulations are amended by adding at the end thereof the following Schedule:

SCHEDULE 3  Regulation 49  Section 141a

PRESCRIBED OFFENCES— PROVISIONS AND PENALTIES

Column 1	Column 2	Column 3
Item	Provision	Penalty
$
1	Section 55..........................................................................................................	125
2	Sub-section 56 (1).............................................................................................	125
3	Sub-section 56 (2).............................................................................................	125
4	Sub-section 78 (2).............................................................................................	125
5	Sub-section 78 (4).............................................................................................	125

NOTES

1. Notified in the Commonwealth of Australia Gazette on 16 December 1983.

2. Statutory Rules 1981 No. 127 as amended to date. For previous amendments see Note 2 to Statutory Rules 1983 No. 108 and see also Statutory Rules 1983 No. 108.

                

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