Corporations (Fees) Amendment (Registries Modernisation) Act 2020

Administered by Department of the Treasury

Legislation au C2020A00067 Not in force Act

Legislation content

Corporations (Fees) Amendment (Registries Modernisation) Act 2020

No. 67, 2020

Compilation No. 1

Compilation date: 21 June 2022

Includes amendments up to: Act No. 35, 2022

Registered: 16 August 2022

About this compilation

This compilation

This is a compilation of the Corporations (Fees) Amendment (Registries Modernisation) Act 2020 that shows the text of the law as amended and in force on 21 June 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 (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 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If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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

1 Short title

2 Commencement

3 Schedules

Schedule 1—Amendments

Corporations (Fees) Act 2001

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

An Act to amend the Corporations (Fees) Act 2001, and for related purposes

1  Short title

  This Act is the Corporations (Fees) Amendment (Registries Modernisation) Act 2020.

2  Commencement

 (1) Each provision of this Act 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 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

22 June 2020

2.  Schedule 1

A day or days to be fixed by Proclamation.

However, if any of the provisions do not commence before 1 July 2026, they commence on that day.

 

Note: This table relates only to the provisions of this Act as originally enacted.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

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

3  Schedules

  Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments

 

Corporations (Fees) Act 2001

1  Subsection 4(1) (paragraph (a) of the definition of chargeable matter)

After “lodgment”, insert “with ASIC or the Registrar”.

2  Subsection 4(1) (after paragraph (c) of the definition of chargeable matter)

Insert:

 (ca) the inspection or search of a record maintained or information held by the Registrar under that Act;

3  Subsection 4(1) (paragraph (d) of the definition of chargeable matter)

After “ASIC”, insert “or the Registrar”.

4  Subsection 4(1) (after paragraph (e) of the definition of chargeable matter)

Insert:

 (ea) the production by the Registrar, under a subpoena, of a record maintained or information held by the Registrar for the purposes of that Act;

5  Subsection 4(1) (paragraph (f) of the definition of chargeable matter)

Omit “or ASIC”, substitute “, ASIC or the Registrar”.

6  Subsection 4(1) (paragraph (g) of the definition of chargeable matter)

Omit “or ASIC”, substitute “ASIC or the Registrar”.

7  Paragraph 7(1)(c)

After “paragraph (c)”, insert “or (ca)”.

8  Paragraph 7(1)(e)

After “paragraph (e)”, insert “or (ea)”.

9  At the end of subparagraph 7(1)(e)(ii)

Add “or the Registrar”.

 

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.

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 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

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 3—Legislation history

 

Act

Number and year

Assent

Commencement

Application, saving and transitional provisions

Corporations (Fees) Amendment (Registries Modernisation) Act 2020

67, 2020

22 June 2020

Sch 1: awaiting commencement (s 2(1) item 2)
Remainder: 22 June 2020 (s 2(1) item 1)

 

Treasury Laws Amendment (2022 Measures No. 1) Act 2022

35, 2022

9 Aug 2022

Sch 4 (Pt 1, item 2): 21 June 2022 (s 2(1) item 5)

—

 

Endnote 4—Amendment history

 

Provision affected

How affected

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

am No 35, 2022

 

 

Overview

The Corporations (Fees) Amendment (Registries Modernisation) Act 2020 was enacted to amend the Corporations (Fees) Act 2001, specifically targeting the introduction of modernised and more efficient practices within the corporate registries. This Act was introduced to address the need for streamlining corporate registry operations, which is essential for the effective regulation of corporations and for enhancing the overall efficiency of corporate governance processes in Australia. Enacted by the Parliament of Australia, the primary policy objective of this Act is to facilitate the modernisation of corporate registries, ensuring they are better equipped to handle the increasing demands and complexities of corporate administration. By amending the Corporations (Fees) Act 2001, the Act aims to support the transition towards a more digital and efficient registry system, which is crucial for maintaining Australia's competitive edge in corporate governance and administration.

Scope and Application

The Corporations (Fees) Amendment (Registries Modernisation) Act 2020 is an Australian Act that amends the Corporations (Fees) Act 2001 to update and modernise the fee structure for various services provided by the Australian Securities and Investments Commission (ASIC) and the Registrar of Companies. The Act applies to entities and individuals who are subject to the Corporations Act 2001, particularly those that are required to lodge documents and information with ASIC or the Registrar of Companies. The amendments introduced by this Act are intended to reflect the changing nature of the business environment and the increased use of digital technologies, by updating and modernising the fee structure for various services provided by ASIC and the Registrar of Companies. The Act applies on a Commonwealth level and extends to all entities and individuals who are subject to the Corporations Act 2001. There are no stated exclusions or exemptions in the Act, although it is possible that certain entities or individuals may be exempt from certain fees or charges under the Corporations (Fees) Act 2001. The application of the Act may be extended or restricted through subordinate instruments, such as regulations or guidelines, issued by ASIC or the Registrar of Companies. The Act also includes provisions for the amendment of the Corporations (Fees) Act 2001 through the insertion, omission or amendment of certain definitions and fee structures. The amendments made by this Act are intended to ensure that the fees charged by ASIC and the Registrar of Companies reflect the true cost of providing the services, while also taking into account the need to promote access to information and to avoid imposing unnecessary burdens on small businesses and other entities. The Act includes a commencement provision that specifies the date on which the amendments will come into effect. Some of the amendments are to commence on the day the Act receives the Royal Assent, while others are to commence on a day or days to be fixed by Proclamation, but in any case not later than 1 July 2026. The Act also includes a savings provision that ensures that any fees that were payable immediately before the commencement of the amendments will continue to be payable until the amendments come into effect.

Key Provisions

The Corporations (Fees) Amendment (Registries Modernisation) Act 2020 (Cth) amends the Corporations (Fees) Act 2001 (Cth) to modernise the fees charged by ASIC and the Registrar of Companies. The operative sections of the Act are sections 1 to 3, which specify the commencement of the Act and the amendments made to the Corporations (Fees) Act 2001. The amendments made by the Act include changes to the definition of "chargeable matter" and the fees associated with certain activities performed by ASIC and the Registrar (Schedule 1, items 1 to 9). The Act imposes obligations on entities that are subject to the fees set out in the Corporations (Fees) Act 2001. These entities are required to pay the applicable fees for the activities specified in the Act. The Act also imposes obligations on ASIC and the Registrar to ensure that the fees charged are in accordance with the amended provisions. Additionally, the Act requires ASIC and the Registrar to maintain accurate records of the fees charged and the activities performed. The Act does not create any new criminal offences or penalties. However, failure to comply with the obligations imposed by the Act may result in civil consequences, such as the imposition of pecuniary penalties. The maximum penalty for contravening a provision of the Corporations Act 2001 (Cth) is generally 5,000 penalty units ($1.1 million) for a corporation and 1,000 penalty units ($220,000) for an individual. It is important to note that the penalties applicable to contraventions of the Corporations Act 2001 (Cth) may also apply to contraventions of the amended provisions of the Corporations (Fees) Act 2001. In summary, the Corporations (Fees) Amendment (Registries Modernisation) Act 2020 amends the Corporations (Fees) Act 2001 to modernise the fees charged by ASIC and the Registrar of Companies. The Act imposes obligations on entities subject to the fees and on ASIC and the Registrar to ensure compliance with the amended provisions. While the Act does not create new criminal offences or penalties, failure to comply with the obligations imposed by the Act may result in civil consequences, including the imposition of pecuniary penalties.

Legal classification tags

Area of Law
Corporate Law & Governance
Instrument
Act
Concepts
Commencement Provisions
Regulatory Standards
Delegated & Subordinate Legislation

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.