National Companies and Securities Commission Regulations (Amendment)

Legislation au C2004L01880 Regulations Not in force Legislative Instrument

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Statutory Rules

1981 No. 129

REGULATION UNDER THE NATIONAL COMPANIES AND SECURITIES COMMISSION ACT 1979*

WHEREAS it is provided by sub-section (4) of section 53 of the National Companies and Securities Commission Act 1979 that the power of the Governor-General to make regulations under that Act shall be exercised only in accordance with advice that is consistent with resolutions of the Ministerial Council for Companies and Securities established under the Agreement made on 22 December 1978 between the Commonwealth and the States:

AND WHEREAS it is provided by section 16a of the Acts Interpretation Act 1901 that a reference in an Act to the Governor-General is, unless the contrary intention appears, to be deemed to include the person for the time being administering the Government of the Commonwealth of Australia and is, unless the contrary intention appears, to be read as referring to that person acting with the advice of the Federal Executive Council:

AND WHEREAS the making of the following Regulation is in accordance with advice that is consistent with those resolutions:

NOW THEREFORE I, the Administrator of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the National Companies and Securities Commission Act 1979.

Dated this third day of June 1981.

STANLEY BURBURY

Administrator

By His Excellency’s Command,

Minister of State for Business and Consumer Affairs

 

*Notified in the Commonwealth of Australia Gazette on 12 June 1981.

†Statutory Rules 1980 No. 5.

S.R. No. 81/80 Cat. No. —Recommended retail price 20c 88/11.5.1981.


AMENDMENT OF THE NATIONAL COMPANIES AND SECURITIES COMMISSION REGULATIONS†

After regulation 10 of the National Companies and Securities Commission Regulations the following regulations are inserted:

Prescribed enactments for the purposes of sub-section 41 (4) of the Act

“11. For the purposes of sub-section 41 (4) of the Act, the Securities Industry Act 1980 of the Commonwealth and the Corporate Affairs Commission Ordinance 1980 of the Australian Capital Territory are prescribed.

Prescribed enactments for the purposes of paragraph 47 (1) (a) of the Act

“12. For the purposes of paragraph 47 (1) (a) of the Act, the Securities Industry Act 1980 of the Commonwealth and the Corporate Affairs Commission Ordinance 1980 of the Australian Capital Territory are prescribed.

Prescribed enactments for the purposes of paragraph 47 (2) (a) of the Act

“13. For the purposes of paragraph 47 (2) (a) of the Act, each of the following laws is prescribed:

Companies (Acquisition of Shares) Act 1980 of the Commonwealth;

Companies (Acquisition of Shares) (Application of Laws) Act, 1981 of the State of New South Wales;

Companies (Acquisition of Shares) (Application of Laws) Act 1981 of the State of Queensland;

Companies (Acquisition of Shares) (Application of Laws) Act, 1981 of the State of South Australia;

Companies (Acquisition of Shares) (Application of Laws) Act 1981 of the State of Tasmania;

Companies (Acquisition of Shares) (Application of Laws) Act 1981 of the State of Victoria;

Companies (Acquisition of Shares) (Application of Laws) Act 1981 of the State of Western Australia;

National Companies and Securities Commission (State Provisions) Act, 1981 of the State of New South Wales;

National Companies and Securities Commission (State Provisions) Act 1981 of the State of Queensland;

National Companies and Securities Commission (State Provisions) Act, 1981 of the State of South Australia;

National Companies and Securities Commission (State Provisions) Act 1981 of the State of Tasmania;

National Companies and Securities Commission (State Provisions) Act 1981 of the State of Victoria;

National Companies and Securities Commission (State Provisions) Act 1980 of the State of Western Australia;

Securities Industry (Application of Laws) Act, 1981 of the State of New South Wales;

Securities Industry (Application of Laws) Act 1981 of the State of Queensland;

Securities Industry (Application of Laws) Act, 1981 of the State of South Australia;

Securities Industry (Application of Laws) Act 1981 of the State of Tasmania;

Securities Industry (Application of Laws) Act 1981 of the State of Victoria;

Securities Industry (Application of Laws) Act 1981 of the State of Western Australia;

Securities Industry Act 1980 of the Commonwealth.

Prescribed enactments for the purposes of paragraph 48 (1) (a) of the Act

“14. For the purposes of paragraph 48 (1) (a) of the Act, the Securities Industry Act 1980 of the Commonwealth and the Corporate Affairs Commission Ordinance 1980 of the Australian Capital Territory are prescribed.

Prescribed enactments for the purposes of sub-section 49 (1) of the Act

“15. For the purposes of sub-section 49 (1) of the Act, the Securities Industry Act 1980 of the Commonwealth and the Corporate Affairs Commission Ordinance 1980 of the Australian Capital Territory are prescribed.”.

Printed by Authority by the Commonwealth Government Printer

Overview

Statutory Rules 1981 No. 129, under the National Companies and Securities Commission Act 1979, was enacted to facilitate the regulation of securities industry practices in alignment with national standards. This legislative instrument was developed to ensure consistency and uniformity across the securities industry in Australia, addressing a gap in the legislative framework that required a coordinated approach to securities regulation. The regulation was made under the authority of the National Companies and Securities Commission Act 1979 and follows advice consistent with resolutions of the Ministerial Council for Companies and Securities. The policy objective of this regulation is to prescribe certain enactments for specific purposes under the Act, thereby providing a clear framework for the administration and enforcement of securities laws across different jurisdictions.

Scope and Application

This statutory instrument amends the National Companies and Securities Commission Regulations under the National Companies and Securities Commission Act 1979. The regulations apply to various enactments relevant to the administration and oversight of companies and securities across different jurisdictions in Australia. The prescribed enactments include the Securities Industry Act 1980 of the Commonwealth and the Corporate Affairs Commission Ordinance 1980 of the Australian Capital Territory, as well as various state-specific laws concerning companies and acquisitions of shares, such as the Companies (Acquisition of Shares) Act 1980 of the Commonwealth and the corresponding Acts from New South Wales, Queensland, South Australia, Tasmania, Victoria, and Western Australia. Additionally, the regulations mention the National Companies and Securities Commission (State Provisions) Acts and Securities Industry (Application of Laws) Acts from each of these states. These regulations are designed to ensure consistency and coordination in the application of securities and company laws across the Commonwealth and its states. The instrument extends its application to encompass the relevant laws and regulatory frameworks, thereby providing a comprehensive scope for the administration of company and securities matters.

Key Provisions

This legislation, the Statutory Rules 1981 No. 129, amends the National Companies and Securities Commission Regulations under the National Companies and Securities Commission Act 1979. These regulations prescribe certain enactments for specific purposes under the Act, as indicated in sections 11, 12, 13, 14, and 15. The prescribed enactments include various state and federal laws related to securities and company regulations, such as the Securities Industry Act 1980 of the Commonwealth and the Corporate Affairs Commission Ordinance 1980 of the Australian Capital Territory, as well as specific state laws concerning the acquisition of shares and securities industry application of laws. These provisions are designed to align the application of the Act with corresponding state and federal laws to ensure uniformity and coherence in regulatory practices across different jurisdictions. Entities governed by this Act are required to adhere to the prescribed enactments listed in the regulations. This means that they must comply with the stipulations and requirements set out in the Securities Industry Act 1980 of the Commonwealth, the Corporate Affairs Commission Ordinance 1980 of the Australian Capital Territory, and the various state laws regarding the acquisition of shares and securities industry applications. These enactments establish the legal framework within which entities must operate, ensuring that their activities are consistent with national and state regulatory standards. Compliance involves ensuring that all relevant procedures, disclosures, and filings are made in accordance with these prescribed laws. Breach of any of the provisions in these regulations can result in significant legal consequences. While the specific penalties are not detailed in the provided text, it is common for breaches of securities and company laws to incur both civil and criminal penalties. Civil penalties may include fines, which can vary widely depending on the severity and nature of the breach. Criminal penalties could potentially include imprisonment, reflecting the seriousness with which regulatory bodies treat non-compliance. The exact penalties would be determined based on the specific laws breached and the circumstances of the offence, but they are intended to enforce adherence to regulatory standards and deter non-compliance.

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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.