Corporations (Fees) Amendment Regulations 2006 (No. 1)

Administered by Department of the Treasury

Legislation au F2006L01817 Regulations Not in force Legislative Instrument

Legislation content

EXPLANATORY STATEMENT

Select Legislative Instrument 2006 No. 135

Issued by the Authority of the Parliamentary Secretary to the Treasurer

Corporations (Fees) Act 2001

Corporations (Fees) Amendment Regulations 2006 (No. 1)

Section 8 of the Corporations (Fees) Act 2001 (the Corporations (Fees) Act) provides that the Governor‑General may make regulations for the purposes of sections 5, 5A and 6 of that Act, which deal with the imposition of fees for things done under the Corporations Act 2001 (Corporations Act).

The purpose of the Regulations is to reduce the fee paid for certain applications to be registered under the Corporations Act as a company or registrable Australian body from $800 to $400.

The Corporations (Fees) Regulations 2001 (the Principal Regulations) support the package of national corporations legislation enacted in 2001.  In particular, they specify fees for the lodgement of documents with the Australian Securities and Investments Commission (ASIC).

Section 5 of the Corporations (Fees) Act provides that the regulations may prescribe fees (which are imposed as taxes) for chargeable matters and may prescribe more than one fee for the same chargeable matter.  ‘Chargeable matters’ are defined in section 4 of the Corporations (Fees) Act and include the lodgement of documents under the Corporations Act and the making of an inquiry of, or an application to ASIC, in relation to a matter arising under the Corporations Act.

Regulation 3 of the Principal Regulations provides that prescribed fees for chargeable matters are set out in Schedule 1 to the Principal Regulations.  Items 5 and 6 of Schedule 1 specify fees for the lodgement of documents and applications relating to registration of companies and other bodies under the Corporations Act.

In its interim response to the Report of the Taskforce on Reducing the Regulatory Burden on Business entitled Rethinking Regulation, the Government announced in April 2006 that it would halve certain incorporation fees for companies from $800 to $400, at an estimated cost of $216.4 million over the Budget forward estimates period.  The fee reduction will benefit businesses wishing to incorporate.

The Corporations Agreement between the States, the Northern Territory and the Commonwealth, which reflects the constitutional basis of the national corporations legislation, requires the Commonwealth to consult members of the Ministerial Council for Corporations before making amendments to regulations made under the Corporations Act and the Corporations (Fees) Act.   Members of the Ministerial Council for Corporations have been consulted about the Regulations.  However, the approval of members of the Ministerial Council is not required for amendments to regulations relating to fees.

Details of the Regulations are set out in the Attachment.

The Regulations are a legislative instrument for the purposes of the Legislative Instruments Act 2003.

The Regulations commence on 1 July 2006.
 


ATTACHMENT

Details of the Corporations (Fees) Amendment Regulations 2006 (No. 1)

Regulation 1: Name of Regulations

This regulation provides that the title of the Regulations is the Corporations (Fees) Amendment Regulations 2006 (No. 1).

Regulation 2: Commencement

This regulation provides that the Regulations commence on 1 July 2006.

Regulation 3: Amendment of Corporations (Fees) Regulations 2001

This regulation provides that the Corporations (Fees) Regulations 2001 (the Principal Regulations) are amended as set out in Schedule 1 to the Regulations.

Schedule 1: Amendments

Item [1]

Item 1 of Schedule 1 to the Regulations replaces the amount of $800 mentioned in column 3 of item 5, subparagraph (a)(i) in Schedule 1 to the Principal Regulations, with an amount of $400, being the fee prescribed for an application for registration as an Australian company having a share capital.

Item [2]

Item 2 of Schedule 1 to the Regulations replaces the amount of $800 mentioned in column 3 of item 5, subparagraph (b)(ii) in Schedule 1 to the Principal Regulations, with an amount of $400, being the fee prescribed for an application for registration of an existing body corporate as a company that is not already registered as a foreign company.

Item [3]

Item 3 of Schedule 1 to the Regulations replaces the amount of $800 mentioned in column 3 of item 5 paragraph (c) in Schedule 1 to the Principal Regulations, with an amount of $400, being the fee prescribed for an application for transfer of the registration of a company in a State or Territory under section 119A of the Corporations Act.

Item [4]

Item 4 of Schedule 1 to the Regulations replaces the amount of $800 mentioned in column 3 of item 6, subparagraph (a)(ii) in Schedule 1 to the Principal Regulations, with an amount of $400, being the fee prescribed for lodging documents for registration as a registrable Australian body, if incorporated or registered under another law other than a law dealing with the incorporation of associations.

Item [5]

Item 5 of Schedule 1 to the Regulations replaces the amount of $800 mentioned in column 3 of item 6, paragraph (b) in Schedule 1 to the Principal Regulations, with an amount of $400, being the fee prescribed for lodging documents for registration as a foreign company.

Overview

The Corporations (Fees) Amendment Regulations 2006 (No. 1) were enacted to amend the Corporations (Fees) Regulations 2001 by reducing the fees associated with certain applications for company registration under the Corporations Act 2001. This legislative measure was introduced by the Australian Government and is intended to facilitate business incorporation by lowering the financial barrier to entry. The amendment reduces the fee for these applications from $800 to $400, thereby providing economic relief to businesses, particularly smaller enterprises, seeking to establish themselves as legal entities under the Corporations Act. These regulations were developed in response to recommendations from the Taskforce on Reducing the Regulatory Burden on Business and were implemented following consultation with relevant stakeholders, although formal approval from the Ministerial Council for Corporations was not required for this specific fee adjustment. The Regulations came into effect on 1 July 2006.

Scope and Application

The Corporations (Fees) Amendment Regulations 2006 (No. 1) apply to entities and individuals seeking to register as a company or as a registrable Australian body under the Corporations Act 2001. This includes applications for the registration of a company with a share capital, the registration of an existing body corporate as a company, the transfer of a company’s registration from a State or Territory to the Commonwealth, and the lodging of documents for the registration of a foreign company. These Regulations reduce the fees associated with these applications from $800 to $400, as per the Corporations (Fees) Act 2001, which empowers the Governor-General to make such regulations. The amendments are effective nationwide, aligning with the national corporations legislation framework, and are applicable to all jurisdictions within Australia. However, while consultation with the Ministerial Council for Corporations is a procedural requirement, their approval is not necessary for amendments to fees under this Act. The Regulations came into effect on 1 July 2006 and are subject to further adjustments through subordinate instruments if needed.

Key Provisions

The Corporations (Fees) Amendment Regulations 2006 (No. 1) amend the Corporations (Fees) Regulations 2001 by reducing the fees for certain applications to be registered under the Corporations Act 2001. Specifically, Regulation 3 of the Corporations (Fees) Amendment Regulations 2006 (No. 1) revises the fees in Schedule 1 of the Principal Regulations, reducing the prescribed fees from $800 to $400 for several specific types of applications. These include applications for registration as an Australian company with a share capital (item 1), applications for registration of an existing body corporate as a company (item 2), applications for the transfer of the registration of a company in a State or Territory (item 3), and applications for lodging documents for registration as a registrable Australian body (item 4). Additionally, it reduces the fee for lodging documents for registration as a foreign company (item 5). These amendments impose new fee structures on entities applying for company registrations or transfers under the Corporations Act. Specifically, the new fee structure requires that entities pay $400 for certain applications that were previously charged $800. This change applies to applications for registration as an Australian company, registration of an existing body corporate, transfer of a company's registration, and lodging documents for registrable Australian bodies and foreign companies. These obligations are clearly outlined in Schedule 1 of the Regulations, which details the specific changes to the fee structure. Failure to comply with the fee structure outlined in the Corporations (Fees) Amendment Regulations 2006 (No. 1) may have legal consequences. Although the explanatory statement does not specify the exact penalties for non-compliance, it is implied that entities must adhere to the new fees when making applications. Non-compliance could potentially lead to administrative penalties or the rejection of the application. However, the precise penalties for such breaches are not detailed in the provided explanatory statement and would need to be referred to in the relevant sections of the Corporations Act 2001 or the Corporations (Fees) Act 2001.

Legal classification tags

Area of Law
Corporate Law & Governance
Instrument
Regulation
Concepts
Definitions & Interpretation
Fees & Charges
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.