Securities Industry Regulations (Amendment) (Cth)

Statutory Rules 1982 No. 1241

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Securities Industry Regulations2

(Amendment)

WHEREAS it is provided by sub-section 150 (5) of the Securities Industry Act 1980 that the power of the Governor-General to make regulations under that Act shall be exercised only in accordance with advice that is consistent with resolutions of the Ministerial Council for Companies and Securities established by the Agreement made on 22 December 1978 between the Commonwealth and the States as amended by the Agreement made on 24 February 1981:

AND WHEREAS the making of the following Regulations is in accordance with advice that is consistent with those resolutions:

NOW THEREFORE 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 Securities Industry Act 1980.

Dated 4 June 1982.

ZELMAN COWEN

Governor-General

By His Excellency's Command,

 

Attorney-General

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Commencement

• 1.

  These Regulations shall come into operation on 1 July 1982.

Prescribed offices under section 5 of the Act

2.Regulation 6 of the Securities Industry Regulations is amended by omitting paragraphs (ze) and (zf) from sub-regulation (3) and substituting the following paragraph:

"(ze) the office of Registrar of the Supreme Court under the Australian Capital Territory Supreme Court Act 1933 of the Commonwealth.".

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S.R. No. 50/82

 Cat No.  Recommended retail price 20c  95/11.5.1982

Exemptions from licensing, &c.

3.Regulation 26 of the Securities Industry Regulations is amended—

(a) by omitting from sub-regulation (2) all words after "dealing in or with" and substituting "a prescribed interest as defined in sub-section 5 (1) of the Companies Act 1981, being a prescribed interest in relation to which there was not, and was not required to be, in force an approved deed within the meaning of section 165 of the Companies Act 1981";

(b) by omitting from sub-regulation (5) "an offer to the public (within the meaning of sub-section 5 (6) of the Companies Ordinance 1962)" and substituting "an offer to the public, or an invitation to the public, (within the meaning of sub-section 5 (4) of the Companies Act 1981)";

(c) by omitting from sub-regulation (6) "interests made available by that corporation in accordance with the provisions of Division 5 of Part IV of the Companies Ordinance 1962" and substituting "prescribed interests made available by that corporation in accordance with the provisions of Division 6 of Part IV of the Companies Act 1981";

(d) by omitting from sub-regulation (11) "interests defined in section 76 of the Companies Ordinance 1962 where the management company as so defined in relation to those interests" and substituting "prescribed interests as defined in sub-section 5 (1) of the Companies Act 1981 where the management company as defined in sub-section 164 (1) of the Companies Act 1981 in relation to those prescribed interests"; and

(e) by omitting from sub-regulation (12) "interests defined in section 76 of the Companies Ordinance 1962" and substituting "prescribed interests as defined in sub-section 5 (1) of the Companies Act 1981".

4. After regulation 35 of the Securities Industry Regulations the following regulation is inserted:

Return of members of firm of auditors

"35a. For the purposes of paragraph 75 (3) (e) of the Act, the return to be lodged with the Commission shall be in accordance with Form 13a.".

Schedule 1

5.Schedule 1 to the Securities Industry Regulations is amended—

(a) by omitting from paragraph 1 (a) of the directions specified in Form 5 "Companies Ordinance 1962" (first occurring) and substituting "Companies Act 1981";

(b) by omitting from paragraph 1 (a) of the directions specified in Form 5 "the Companies Ordinance 1962" (second occurring) and substituting "sub-section 5 (1) of the Companies Act 1981";

(c) by omitting from paragraph 1 (b) of the directions specified in Form 5 "Companies Ordinance 1962" and substituting "Companies Act 1981";

(d) by omitting from paragraph 1 (a) of the directions specified in Form 11 "Companies Ordinance 1962" (first occurring) and substituting "Companies Act 1981";

(e) by omitting from paragraph 1 (a) of the directions specified in Form 11 "the Companies Ordinance 1962" (second occurring) and substituting "sub-section 5 (1) of the Companies Act 1981";

(f) by omitting from paragraph 1 (b) of the directions specified in Form 11 "Companies Ordinance 1962" and substituting "Companies Act 1981"; and

(g) by inserting after Form 13 the following form:

FORM 13A Regulation 35a

Securities Industry Act 1980

RETURN OF MEMBERS OF FIRM OF AUDITORS

Name of firm.........................................................................................................................................

Address of firm:(1).................................................................................................................................

The full names and addresses of all members of the firm are

Surname Christian or given names in full Address in full of usual residence

    

Date this……………………………………… day of ………………………………………..19…….

signature(2)…………………………………………….

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(1).Give the address of each place of business of the firm; if there is more than one place of business indicate the principal place of business.

(2) To be signed by one of the members of the firm.

DIRECTION

The complication of this from does not relieve the firm of any obligation under the law relating to business names.

Schedule of further amendments

6. The Securities industry Regulation are further amended as set out in the Schedule.

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SCHEDULE  Regulation 6

FURTHER AMENDMENTS

Provision amended	Amendment
Regulation 27.......................	Omit "section 323 of the Companies Ordinance 1962", substitute "section 479 of the Companies Act 1981".
Regulation 29.......................	Omit "interests" (twice occurring), substitute "prescribed interests".
Regulation 29.......................	Omit "Division 5, as the case may be, of Part IV of the Companies Ordinance 1962", substitute "Division 6, as the case may be, of Part IV of the Companies Act 1981".
Sub-regulation 35 (2)...........	Omit "Companies Ordinance 1962" (twice occurring), substitute "Companies Act 1981".
Sub-regulation 35 (2)...........	Omit "of the Commonwealth".
Paragraph 46 (1) (a).............	Omit "sub-section 116 (1) of the Companies Ordinance 1962", substitute "sub-section 221 (1) of the Companies Act 1981".
Paragraph 46 (1) (b).............	Omit "sub-section 6 (5) of the Companies Ordinance 1962", substitute "sub-section 7 (5) of the Companies Act 1981".
Paragraph 47 (b)...................	Omit "sub-section 6 (5) of the Companies Ordinance 1962", substitute "sub-section 7 (5) of the Companies Act 1981".

NOTES

1. Notified in the Commonwealth of Australia Gazette on 16 June 1982.

2. Statutory Rules 1981 No. 127 as amended by 1982 No. 124

                             

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