EXPLANATORY STATEMENT
STATUTORY RULES 1988 NO. 35
ISSUED BY THE AUTHORITY OF THE ATTORNEY-GENERAL
COMPANIES (FEES) REGULATIONS (AMENDMENT)
Subsection 5(1) of the Companies (Fees) Act 1981 (“the Act”) provides that the Governor-General may make regulations, not inconsistent with the Act, prescribing fees, not in any case exceeding $1,000, for the purposes of subsection 4(1) of the Act. Subsection 5(2) of the Act provides that the power of the Governor-General to make regulations shall be exercised only in accordance with advice that is consistent with resolutions of the Ministerial Council for Companies and Securities (“the Council”).
2. The Council was established under an agreement between the Commonwealth and the States, executed on 22 December 1978 (“the agreement”), that provides the framework for a co-operative Commonwealth-State scheme for a uniform system of law and administration in relation to company law and the regulation of the securities and futures industries in the six States, the Australian Capital Territory and the Northern Territory of Australia.
3. Under subclause 45(1) of the agreement, the Council may consider a proposal for the amendment of regulations made under the Commonwealth Acts enacted for the purpose of the co-operative companies and securities scheme. Should the
Council approve any draft amending regulation which gives effect to such a proposal, the Commonwealth is then required, under subclause 45(2) of the agreement, to submit the draft regulations to the Federal Executive Council for making by the Governor-General.
4. The accompanying regulations are in accordance with a resolution made by the Council.
5. The purpose of the regulations is to amend the Companies (Fees) Regulations (“the Regulations”) so that fees may be charged for the issue of computer-generated documents which contain extracts from documents lodged with or held by the Corporate Affairs Commission.
6. Details of the accompanying regulations are as follows.
Regulation 1: Commencement
7. This regulation prescribes 1 April 1988 as the date on which the Regulations will come into operation.
Regulation 2: Principal Regulations
8. For the purposes of these Regulations, this regulation defines “Principal Regulations” as meaning the Companies (Fees) Regulations.
Regulation 3: Schedule
9. The Schedule to the Regulations sets out the fees that are payable for the purposes of subsection 4(1) of the Act. That subsection provides:
“4(1) There shall be paid to the Commonwealth for, or in respect of-
(a) the lodgment of documents with the Commission under the Companies Act 1981;
(b) the registration of documents under that Act or the inspection or search of registers kept by, or documents in the custody of, the Commission under that Act;
(c) the production by the Commission, pursuant to a subpoena, of any register kept by, or document in the custody of, the Commission under that Act;
(d) the issuing of documents or copies of documents, the granting of licences, consents or approvals or the doing of other acts or things by the Ministerial Council or the Commission under that Act;
(e) the making of inquiries of, or applications to, the Ministerial Council or the Commission in relation to matters arising under that Act; and
(f) the submission to the Commission of documents for examination by the Commission,
such fees (if any) as are prescribed.”
10. Regulation 3 amends the Schedule of fees by inserting four new items providing for the charging of fees for the issue of computer-generated documents.
11. A fee of $5.00 will be charged for the issue of a computer-generated document that contains no more than five classes of information relating to a corporation where that document is requested in person( item 53A). Where such a document is requested otherwise than in person (for example, by post) the fee payable will be $9.00 (item 53C). The fee for a computer-generated document that contains more than five classes of information relating to a corporation will be $6.00 when requested in person (item 53B) and $10.00 when requested otherwise than in person (item 53D).
12. Paragraph (a) of regulation 3 lists the different types of information which, for the purposes of these items, would comprise a separate class of information. For example, information concerning a company’s name and incorporation would be one class of information, information concerning the company’s classification (e.g. public, exempt proprietary, non-exempt proprietary, Limited by shares, etc.) would be a second class of information, and information concerning the company’s principal activities would be a third class of information.