Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2021 (Cth)

Case
No judgment structure available for this case.

Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2021

made under the

Corporations Act 2001, Foreign Acquisitions and Takeovers Act 1975, National Consumer Credit Protection Act 2009, Retirement Savings Accounts Act 1997, and the Superannuation (Unclaimed Money and Lost Members) Act 1999

Compilation No. 1

Compilation date:24 March 2022

Registered:24 March 2022

This compilation only includes an editorial change

About this compilation

This compilation

This is a compilation of the Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2021 that shows the text of the law as amended and in force on 24 March 2022 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register ( The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

1Name

This instrument is the Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2021.

2Commencement
  1. (1)

    Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.

Sections 1 to 4 and anything in this instrument not elsewhere covered by this table

The day after this instrument is registered.

18 December 2021

2.

Schedule 1, Part 1

The day after this instrument is registered.

18 December 2021

3.

Schedule 1, Part 2

At the same time as Part 1 of Schedule 8 to the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022 commences.

However, the provisions do not commence at all if that Part does not commence.

23 February 2022

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

  1. (2)

    Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3Authority

This instrument is made under the following:

  1. (a)

    the Corporations Act 2001;

  2. (b)

    the Foreign Acquisitions and Takeovers Act 1975;

  3. (c)

    the National Consumer Credit Protection Act 2009;

  4. (d)

    the Retirement Savings Accounts Act 1997;

  5. (e)

    the Superannuation (Unclaimed Money and Lost Members) Act 1999.

4Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1AmendmentsPart 1Amendments commencing day after registration

Corporations Regulations 2001

1

Subparagraph 7.8.13(2)(a)(i)

After “4,”, insert “4A,”.

2

Regulation 7.9.07FA

Omit “ and the APRA hotline on 1300 13 10 60”, substitute “ 7.9.14D(1)(c)

Omit “ and the APRA hotline on 1300 13 10 60”, substitute “ subregulation 7.9.20AA(1)

Insert:

  1. (1A)

    This regulation does not apply if:

    1. (a)

      the superannuation product is a non‑investment or accumulation life insurance policy that is offered through the regulated superannuation fund; or

    2. (b)

      the superannuation product has no investment component (also known as a risk‑only superannuation product); or

    3. (c)

      the statement is a periodic statement to be given to a member of the regulated superannuation fund for a reporting period mentioned in paragraph 1017D(2)(d) of the Act.

5

Subregulation 7.9.20AA(2)

Repeal the subregulation (including the heading).

6

Subregulations 7.9.20AA(3) to (7)

Repeal the subregulations.

7

Subregulation 7.9.20AA(8) (heading)

Repeal the heading.

8

Subregulation 7.9.20AA(8)

Omit “2010”, substitute “2011”.

9

Subregulation 7.9.75BA(1)

Repeal the subregulation, substitute:

  1. (1)

    For the purposes of paragraph 1017DA(1)(a) of the Act, the trustee of a superannuation entity (other than a self managed superannuation fund) may provide fund information:

    1. (a)

      required by Subdivision 5.6 of this Part and is about a regulated superannuation fund; or

    2. (b)

      required by Subdivision 5.6 of this Part and is about an approved deposit fund; or

    3. (c)

      required by Subdivision 5.7 of this Part and is about a pooled superannuation trust;

to a holder of an interest in that entity by making it available on the entity’s website.

Foreign Acquisitions and Takeovers Regulation 2015

10

Section 66

Repeal the section.

National Consumer Credit Protection Regulations 2010

11

Subdivision 1.3 of Division 1 of Part 2.4

Repeal the Subdivision.

12

Regulations 65B, 69A and 69B

Repeal the regulations.

Retirement Savings Accounts Regulations 1997

13

Division 2.2

Repeal the Division.

14

Regulation 2.18A (note)

Omit “Section 53 of the Act provides that a person must receive certain documents before becoming an RSA holder.”.

Superannuation (Unclaimed Money and Lost Members) Regulations 2019

15

Subsection 6(1)

Omit “and 24K(4)(a)”, substitute “, 24K(4)(a) and 24NAA(4)(a)”.

Part 2Contingent amendments

Corporations Regulations 2001

16

Part 7.6A

Repeal the Part.

17

Regulation 7.7.10AH

Repeal the regulation.

18

Regulation 7.9.15G

Repeal the regulation.

Endnotes

Endnote 1About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history.

Endnote 2Abbreviation key

ad = added or inserted

o = order(s)

am = amended

Ord = Ordinance

amdt = amendment

orig = original

c = clause(s)

par = paragraph(s)/subparagraph(s)

C[x] = Compilation No. x

/sub‑subparagraph(s)

Ch = Chapter(s)

pres = present

def = definition(s)

prev = previous

Dict = Dictionary

(prev…) = previously

disallowed = disallowed by Parliament

Pt = Part(s)

Div = Division(s)

r = regulation(s)/rule(s)

ed = editorial change

reloc = relocated

exp = expires/expired or ceases/ceased to have

renum = renumbered

effect

rep = repealed

F = Federal Register of Legislation

rs = repealed and substituted

gaz = gazette

s = section(s)/subsection(s)

LA = Legislation Act 2003

Sch = Schedule(s)

LIA = Legislative Instruments Act 2003

Sdiv = Subdivision(s)

(md) = misdescribed amendment can be given

SLI = Select Legislative Instrument

effect

SR = Statutory Rules

(md not incorp) = misdescribed amendment

Sub‑Ch = Sub‑Chapter(s)

cannot be given effect

SubPt = Subpart(s)

mod = modified/modification

underlining = whole or part not

No. = Number(s)

commenced or to be commenced

Endnote 3Legislation history

Name

Registration

Commencement

Application, saving and transitional provisions

Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2021

17 Dec 2021 (F2021L01841)

Sch 1 (items 16–18): 23 Feb 2022 (s 2(1) item 3)

Remainder: 18 Dec 2021 (s 2(1) items 1, 2)

Endnote 4Amendment history

Provision affected

How affected

s 2.............................................

ed C1

rep LA s 48D

Endnote 5Editorial changes

In preparing this compilation for registration, the following kinds of editorial change(s) were made under the Legislation Act 2003.

Subsection 2(1) (table item 3, column 2)

Kind of editorial change

Update to a reference of a law or a provision

Details of editorial change

This compilation was editorially changed to update a reference from the Corporate Collective Investment Vehicle Framework and Other Measures Act 2021 to the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022 in column 2 of table item 3 of subsection 2(1).

Actions
Download as PDF Download as Word Document


Cases Citing This Decision

0

Cases Cited

0

Statutory Material Cited

0