Corporations (Approval of Relevant Provider Qualifications) Delegations 2022

Administered by Department of the Treasury

Legislation au F2022N00049 In force Notifiable Instrument

Legislation content

 

Corporations (Approval of Relevant Provider Qualifications) Delegations 2022

made under the Corporations Act 2001

Compilation No. 1

Compilation date: 19 December 2023

Includes amendments up to: Corporations (Approval of Relevant Provider Qualifications) Amendment Delegations 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepared by The Treasury

About this compilation

       

This compilation

This is a compilation of the Corporations (Approval of Relevant Provider Qualifications) Delegations 2022 that shows the text of the law as amended and in force on 19 December 2023 (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 Register (www.legislation.gov.au). 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 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.

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If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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

Part 1—Preliminary

1  Name

3  Authority

4  Definitions

Part 2—Delegations

5  Delegations relating to approving foreign qualifications

6  Delegations relating to approving forms in relation to approval of foreign qualifications

7  Delegations relating to approving forms in relation to approval of domestic qualifications

8  Delegations relating to approving domestic qualifications

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Part 1—Preliminary

 

1  Name

  This instrument is the Corporations (Approval of Relevant Provider Qualifications) Delegations 2022.

3  Authority

  This instrument is made under the Corporations Act 2001.

4  Definitions

Note: Paragraph 13(1)(b) of the Legislation Act 2003 has the effect that expressions have the same meaning in this instrument as in the Corporations Act 2001 as in force from time to time.

  In this instrument:

the Act means the Corporations Act 2001.

the Treasury means the Department of the Treasury.

Part 2—Delegations

 

5  Delegations relating to approving foreign qualifications

  Under subsection 1345A(1) of the Act, each person holding, occupying or performing the duties of each of the following offices or positions in the Treasury, is delegated the Minister’s functions and powers under subsections 921G(2) and (4) of the Act:

 (a) the Secretary;

 (b) a Deputy Secretary;

 (c) an SES employee.

6  Delegations relating to approving forms in relation to approval of foreign qualifications

  Under subsection 1345A(1) of the Act, each person holding, occupying or performing the duties of each of the following offices or positions in the Treasury, is delegated the Minister’s functions and powers under subsection 921G(1) of the Act to approve a form:

 (a) the Secretary;

 (b) a Deputy Secretary;

 (c) an SES employee.

7  Delegations relating to approving forms in relation to approval of domestic qualifications

  Under subsection 1345A(1) of the Act, each person holding, occupying or performing the duties of each of the following offices or positions in the Treasury, is delegated the Minister’s functions and powers under paragraph 921GA(2)(b) of the Act to approve a form:

 (a) the Secretary;

 (b) a Deputy Secretary;

 (c) an SES employee.

8  Delegations relating to approving domestic qualifications

  Under subsection 1345A(1) of the Act, each person holding, occupying or performing the duties of each of the following offices or positions in the Treasury, is delegated the Minister’s functions and powers under subsection 921GA(3) of the Act:

 (a) the Secretary;

 (b) a Deputy Secretary;

 (c) an SES employee.

 

Endnotes

Endnote 1—About 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.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

 

ad = added or inserted

orig = original

 

 

am = amended

par = paragraph(s)/subparagraph(s)

 

 

amdt = amendment

/sub‑subparagraph(s)

 

 

c = clause(s)

pres = present

 

 

C[x] = Compilation No. x

prev = previous

 

 

Ch = Chapter(s)

(prev…) = previously

 

 

def = definition(s)

Pt = Part(s)

 

 

Dict = Dictionary

r = regulation(s)/rule(s)

 

 

disallowed = disallowed by Parliament

reloc = relocated

 

 

Div = Division(s)

renum = renumbered

 

 

exp = expires/expired or ceases/ceased to have

rep = repealed

 

 

effect

rs = repealed and substituted

 

 

F = Federal Register of Legislation

s = section(s)/subsection(s)

 

 

gaz = gazette

Sch = Schedule(s)

 

 

LA = Legislation Act 2003

Sdiv = Subdivision(s)

 

 

LIA = Legislative Instruments Act 2003

SLI = Select Legislative Instrument

 

 

(md not incorp) = misdescribed amendment

SR = Statutory Rules

 

 

cannot be given effect

Sub‑Ch = Sub‑Chapter(s)

 

 

mod = modified/modification

SubPt = Subpart(s)

 

 

No. = Number(s)

underlining = whole or part not

 

 

o = order(s)

commenced or to be commenced

 

 

Ord = Ordinance

 

 

 

 

 

 

 

 

 

 

 

 

Endnote 3—Legislation history

 

Name

Registration

Commencement

Application, saving and transitional provisions

Corporations (Approval of Foreign Qualifications) Delegations 2022

15 March 2022

(F2022N00049)

16 March 2022

—

Corporations (Approval of Relevant Provider Qualifications) Amendment Delegations 2023

18 December 2023

(F2023N00628)

19 December 2023

—

 

Endnote 4—Amendment history

 

Provision affected

How affected

s1

am F2023N00628

s2

rep s48D LA

s6

ad F2023N00628

s7

ad F2023N00628

s8

ad F2023N00628

 

Overview

The Corporations (Approval of Relevant Provider Qualifications) Delegations 2022, enacted under the Corporations Act 2001, address the need to streamline and delegate specific functions and powers relating to the approval of qualifications for relevant providers within the corporate sector. This legislative instrument was prepared by The Treasury and aims to facilitate efficient management and oversight of qualifications by delegating relevant authorities to key positions within the Department of the Treasury. This delegation allows the Secretary, Deputy Secretary, and Senior Executive Service (SES) employees of the Treasury to exercise the Minister's powers and functions regarding the approval of both foreign and domestic qualifications, thereby ensuring timely and effective regulation of corporate qualifications in line with the broader objectives of the Corporations Act. The enactment of this instrument by the Australian Parliament seeks to enhance the operational efficiency of the corporate regulatory framework while maintaining rigorous standards for qualifications approval.

Scope and Application

The Corporations (Approval of Relevant Provider Qualifications) Delegations 2022, made under the Corporations Act 2001, outlines the delegations within the Department of the Treasury concerning the approval of qualifications relevant to corporations. This instrument applies to specific officers within the Treasury, including the Secretary, Deputy Secretaries, and Senior Executive Service (SES) employees, who are delegated certain functions and powers of the Minister under the Corporations Act. These delegations cover the approval of both foreign and domestic qualifications and forms related to these qualifications. The geographic scope of this legislation is limited to the Commonwealth of Australia, specifically targeting the operations within the Treasury. There are no specific exclusions or exemptions outlined in this text, and it is presumed that the Act applies uniformly to the designated officers and their functions unless otherwise specified by subordinate instruments. The instrument itself does not extend or restrict application beyond what is explicitly stated within its provisions.

Key Provisions

The Corporations (Approval of Relevant Provider Qualifications) Delegations 2022, made under the Corporations Act 2001, delegates certain functions and powers to specified officers within the Department of the Treasury. Specifically, these delegations pertain to the approval of foreign and domestic qualifications as well as the approval of forms related to such qualifications. Under section 5, the Minister’s functions and powers regarding the approval of foreign qualifications are delegated to the Secretary, Deputy Secretary, and Senior Executive Service (SES) employees of the Treasury. Similarly, section 6 covers the delegation of the Minister’s functions and powers to approve forms used in the context of foreign qualifications to the same officers. Section 7 extends this delegation to forms related to the approval of domestic qualifications, while section 8 delegates the functions and powers concerning the approval of domestic qualifications to the same specified officers. The Act imposes obligations on the Treasury officers to whom the delegations are made. These officers must exercise their delegated powers and functions diligently and in accordance with the Corporations Act 2001. Their responsibilities include ensuring that the qualifications and forms they approve meet the statutory requirements and maintain the integrity of the approval process. Additionally, these officers must keep accurate records of their decisions and the reasons behind them, ensuring transparency and accountability in their actions. Breaches of the obligations and requirements set forth in the Act can lead to significant consequences. While the document does not explicitly outline specific offences or penalties, breaches of delegations under the Corporations Act 2001 generally can result in enforcement actions by the Australian Securities and Investments Commission (ASIC). These actions may include administrative penalties, corrective orders, or legal proceedings against the officers or entities involved. The potential penalties can vary widely depending on the nature and severity of the breach but can include substantial fines and, in some cases, criminal sanctions for individuals.

Legal classification tags

Area of Law
Corporate Law & Governance
Instrument
Legislative Instrument
Concepts
Delegated & Subordinate Legislation
Licensing & Registration
Reporting & Disclosure Obligations
Regulatory Standards

Interactions

Authorises

All Versions

Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.