Prepared by the Office of Parliamentary Counsel, Canberra
Corporations Act 2001
No. 50, 2001
Compilation No. 79
Compilation date: 1 July 2017
Includes amendments up to: Act No. 75, 2017
Registered: 6 July 2017
This compilation is in 6 volumes
Volume 1: sections 1–260E
Volume 2: sections 283AA–601DJ
Volume 3: sections 601EA–742
Volume 4: sections 760A–993D
Volume 5: sections 1010A–1369A
Volume 6: sections 1370–1637
Schedules
Endnotes
Each volume has its own contents
This compilation includes commenced amendments made by Act No. 45,
2017
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About this compilation
This compilation
This is a compilation of the Corporations Act 2001 that shows the text of the
law as amended and in force on 1 July 2017 (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If a provision of the compiled law has been repealed in accordance with a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.
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Contents
Chapter 10—Transitional provisions 1
Part 10.1—Transition from the old corporations legislation 1
Division 1—Preliminary 1
1370 Object of Part ....................................................................1
1371 Definitions.........................................................................2
1372 Relationship of Part with State validation Acts .................6
1373 References to things taken or deemed to be the
case etc. .............................................................................8
1374 Existence of several versions of old corporations
legislation does not result in this Part operating to
take same thing to be done several times under
new corporations legislation etc. .......................................9
1375 Penalty units in respect of pre-commencement
conduct remain at $100 ...................................................10
1376 Ceasing to be a referring State does not affect
previous operation of this Part.........................................10
Division 2—Carrying over registration of companies 11
1377 Division has effect subject to Division 7
regulations .......................................................................11
1378 Existing registered companies continue to be
registered .........................................................................11
Division 3—Carrying over the old Corporations Regulations 13
1379 Division has effect subject to Division 7
regulations .......................................................................13
1380 Old Corporations Regulations continue to have
effect................................................................................13
Division 4—Court proceedings and orders 14
1381 Division has effect subject to Division 7
regulations .......................................................................14
1382 Definitions.......................................................................14
1383 Treatment of court proceedings under or related to
the old corporations legislation—proceedings
other than federal corporations proceedings ....................16
1384 Treatment of court proceedings under or related to
the old corporations legislation—federal
corporations proceedings.................................................19
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1384A Appeals etc. in relation to some former federal
corporations proceedings.................................................20
1384B Effect of decisions and orders made in federal
corporations proceedings before commencement............21
1385 References to proceedings and orders in the new
corporations legislation ...................................................21
Division 5—Other specific transitional provisions 23
1386 Division has effect subject to Division 7
regulations .......................................................................23
1387 Certain applications lapse on the commencement ...........23
1388 Carrying over the Partnerships and Associations
Application Order............................................................23
1389 Evidentiary certificates....................................................23
1390 Preservation of nomination of body corporate as
SEGC ..............................................................................24
1391 Preservation of identification of satisfactory
records.............................................................................24
1392 Retention of information obtained under old
corporations legislation of non-referring State ................25
1393 Transitional provisions relating to section 1351
fees ..................................................................................25
1394 Transitional provisions relating to securities
exchange fidelity fund levies...........................................26
1395 Transitional provisions relating to National
Guarantee Fund levies .....................................................27
1396 Transitional provisions relating to futures
organisation fidelity fund levies ......................................28
Division 6—General transitional provisions relating to other
things done etc. under the old corporations
legislation 30
1397 Limitations on scope of this Division..............................30
1398 Provisions of this Division may have an
overlapping effect............................................................31
1399 Things done by etc. carried over provisions
continue to have effect ....................................................31
1400 Creation of equivalent rights and liabilities to
those that existed before the commencement under
carried over provisions of the old corporations
legislation ........................................................................34
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1401 Creation of equivalent rights and liabilities to
those that existed before the commencement under
repealed provisions of the old corporations
legislation ........................................................................36
1402 Old corporations legislation time limits etc. ....................38
1403 Preservation of significance etc. of events or
circumstances ..................................................................39
1404 References in the new corporations legislation
generally include references to events,
circumstances or things that happened or arose
before the commencement...............................................40
1405 References in the new corporations legislation to
that legislation or the new ASIC legislation
generally include references to corresponding
provisions of the old corporations legislation or
old ASIC legislation ........................................................41
1406 Carrying over references to corresponding
previous laws...................................................................42
1407 References to old corporations legislation in
instruments ......................................................................42
1408 Old transitional provisions continue to have their
effect................................................................................43
Division 7—Regulations dealing with transitional matters 47
1409 Regulations may deal with transitional matters ...............47
Part 10.2—Transitional provisions relating to the Financial
Services Reform Act 2001 49
Division 1—Transitional provisions relating to the phasing-in of
the new financial services regime 49
Subdivision A—Preliminary 49
1410 Definitions.......................................................................49
Subdivision B—Treatment of existing markets 51
1411 When is a market being operated immediately
before the FSR commencement? .....................................51
1412 Treatment of proposed markets that have not
started to operate by the FSR commencement.................51
1413 Obligation of Minister to grant licences covering
main existing markets......................................................53
1414 Section 1413 markets—effect of licences and
conditions ........................................................................56
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1415 Section 1413 markets—preservation of old
Corporations Act provisions during transition
period ..............................................................................58
1416 Section 1413 markets—powers for regulations to
change how the old and new Corporations Act
apply during the transition period....................................59
1417 Section 1413 markets—additional provisions
relating to previously unregulated services .....................60
1418 Treatment of exempt stock markets and exempt
futures markets (other than markets with no
identifiable single operator).............................................61
1419 Treatment of exempt stock markets and exempt
futures markets that do not have a single
identifiable operator ........................................................63
1420 Treatment of stock markets of approved securities
organisations ...................................................................65
1421 Treatment of special stock markets for unquoted
interests in a registered scheme .......................................66
1422 Treatment of other markets that were not
unauthorised ....................................................................67
Subdivision C—Treatment of existing clearing and settlement
facilities 68
1423 When is a clearing and settlement facility being
operated immediately before the FSR
commencement?..............................................................68
1424 Treatment of proposed clearing and settlement
facilities that have not started to operate by the
FSR commencement........................................................69
1424A Treatment of unregulated clearing and settlement
facilities operated by holders of old Corporations
Act approvals ..................................................................71
1425 Obligation of Minister to grant licences covering
main existing facilities.....................................................72
1426 Section 1425 facilities—effect of licences and
conditions ........................................................................74
1427 Section 1425 facilities—powers for regulations to
change how the old and new Corporations Act
apply during the transition period....................................76
1428 Section 1425 facilities—additional provisions
relating to previously unregulated services .....................76
1429 Treatment of other clearing and settlement
facilities ...........................................................................77
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Subdivision D—Treatment of people who carry on financial
services businesses and their representatives 78
1430 Meaning of regulated principal, regulated
activities and relevant old legislation ..............................78
1431 Parts 7.6, 7.7 and 7.8 of the amended Corporations
Act generally do not apply to a regulated principal
during the transition period .............................................82
1432 Continued application of relevant old legislation ............84
1433 Streamlined licensing procedure for certain
regulated principals .........................................................85
1434 Special licences for insurance multi-agents during
first 2 years after FSR commencement............................86
1435 Licensing decisions made within the first 2 years
of the FSR commencement—regard may be had to
conduct and experience of applicant or related
body corporate that currently provides same or
similar services................................................................88
1436 Treatment of representatives—general............................89
1436A Treatment of representatives—insurance agents .............90
1437 Exemptions and modifications by ASIC .........................93
Subdivision E—Product disclosure requirements 94
1438 New product disclosure provisions do not apply to
existing products during transition period .......................94
1439 Offences against new product disclosure
provisions—additional element for prosecution to
prove if conduct occurs after opting-in and before
the end of the first 2 years ...............................................97
1440 Continued application of certain provisions of old
disclosure regimes during transition period.....................98
1441 Certain persons who are not yet covered by
Parts 7.6, 7.7 and 7.8 of the amended Corporations
Act are required to comply with Part 7.9
obligations as if they were regulated persons ..................99
1442 Exemptions and modifications by ASIC .........................99
Subdivision F—Certain other product-related requirements 101
1442A Deferred application of hawking prohibition.................101
1442B Deferred application of confirmation of transaction
and cooling-off provisions etc. ......................................101
Division 2—Other transitional provisions 104
1443 Definitions.....................................................................104
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1444 Regulations may deal with transitional, saving or
application matters ........................................................105
1445 ASIC determinations may deal with transitional,
saving or application matters.........................................107
Part 10.3—Transitional provisions relating to the Corporations
Legislation Amendment Act 2003 111 1447 Application of sections 601AB and 601PB ...................111
1448 Application of amendments made by Schedule 4 to
the Corporations Legislation Amendment Act 2003 ......111
Part 10.4—Transitional provisions relating to the Financial
Services Reform Amendment Act 2003 112 1449 Definition ......................................................................112
1450 Application of Part 10.2 to Chapter 7 as amended
by Schedule 2 to the amending Act ...............................112
1451 Provisions relating to the scope of the amendments
of Chapter 7 made by Schedule 2..................................113
1452 Amendments of section 1274 ........................................115
Part 10.5—Transitional provisions relating to the Corporate
Law Economic Reform Program (Audit Reform and
Corporate Disclosure) Act 2004 116 1453 Definitions.....................................................................116
1454 Audit reforms in Schedule 1 to the amending Act
(auditing standards and audit working papers
retention rules)...............................................................116
1455 Audit reforms in Schedule 1 to the amending Act
(adoption of auditing standards made by
accounting profession before commencement) .............117
1456 Audit reforms in Schedule 1 to the amending Act
(new competency standard provisions) .........................118
1457 Audit reforms in Schedule 1 to the amending Act
(new annual statement requirements for auditors).........118
1458 Audit reforms in Schedule 1 to the amending Act
(imposition of conditions on existing registration
as company auditor) ......................................................119
1459 Audit reforms in Schedule 1 to the amending Act
(application of items 62 and 63) ....................................119
1460 Audit reforms in Schedule 1 to the amending Act
(non-audit services disclosure) ......................................119
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1461 Audit reforms in Schedule 1 to the amending Act
(auditor appointment) ....................................................119
1462 Audit reforms in Schedule 1 to the amending Act
(auditor independence) ..................................................120
1463 Audit reforms in Schedule 1 to the amending Act
(auditor rotation) ...........................................................122
1464 Audit reforms in Schedule 1 to the amending Act
(listed company AGMs) ................................................122
1465 Schedule 2 to the amending Act (financial
reporting).......................................................................122
1466A Schedule 2A to the amending Act (true and fair
view)..............................................................................122
1466 Schedule 3 to the amending Act (proportionate
liability) .........................................................................123
1467 Schedule 4 to the amending Act (enforcement).............123
1468 Schedule 5 to the amending Act (remuneration of
directors and executives) ...............................................123
1469 Schedule 6 to the amending Act (continuous
disclosure) .....................................................................124
1470 Schedule 7 to the amending Act (disclosure rules)........124
1471 Schedule 8 to the amending Act (shareholder
participation and information) .......................................125
Part 10.8—Transitional provisions relating to the Corporations
Amendment (Takeovers) Act 2007 126 1478 Application of amendments of the takeovers
provisions ......................................................................126
Part 10.9—Transitional provisions relating to the Corporations
Amendment (Insolvency) Act 2007 127 1479 Definition ......................................................................127
1480 Schedule 1 to the amending Act (improving
outcomes for creditors)..................................................127
1481 Schedule 2 to the amending Act (deterring
corporate misconduct) ...................................................130
1482 Schedule 3 to the amending Act (improving
regulation of insolvency practitioners) ..........................131
1483 Schedule 4 to the amending Act (fine-tuning
voluntary administration) ..............................................132
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Part 10.10 Transitional provisions relating to the Corporations
Amendment (Short Selling) Act 2008 135 1484 Declarations under paragraph 1020F(1)(c) relating
to short selling ...............................................................135
Part 10.11—Transitional provisions relating to the
Corporations Amendment (No. 1) Act 2009 137 1485 Application of new subsection 206B(6) ........................137
1486 Application of new section 206EAA.............................137
Part 10.12—Transitional provisions relating to the
Corporations Legislation Amendment (Financial
Services Modernisation) Act 2009 138
Division 1—Transitional provisions relating to Schedule 1 to the
Corporations Legislation Amendment (Financial
Services Modernisation) Act 2009 138
1487 Definitions.....................................................................138
1488 Application of amendments—general ...........................138
1489 Applications of amendments—application for and
grant of licences etc. authorising margin lending
financial services ...........................................................139
1490 Application of amendments—between 6 and 12
months after commencement.........................................140
1491 Acquisition of property .................................................141
1492 Regulations....................................................................141
Division 2—Transitional provisions relating to Schedule 2 to the
Corporations Legislation Amendment (Financial
Services Modernisation) Act 2009 142
1493 Definitions.....................................................................142
1494 Transitional provisions relating to limit on control
of trustee companies......................................................142
1495 Transitional provisions relating to the amendments
of Chapter 7...................................................................143
1496 General power for regulations to deal with
transitional matters ........................................................144
Division 3—Transitional provisions relating to Schedule 3 to the
Corporations Legislation Amendment (Financial
Services Modernisation) Act 2009 145
1497 Definitions.....................................................................145
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1498 Application of amendments...........................................145
Part 10.13—Transitional provisions relating to the Personal
Property Securities (Corporations and Other
Amendments) Act 2009 146 1499 Definitions.....................................................................146
1500 Charges, liens and pledges—continuation of
restriction of references .................................................146
1501 Charges, liens, pledges and third party property—
application .....................................................................147
1501A References to the whole or substantially the whole
of a company’s property ................................................147
1501B Constructive notice of registrable charges.....................147
1502 Repeal of Chapter 2K (charges)—general.....................148
1503 Repeal of Chapter 2K (charges)—cessation of
requirements in relation to documents or notices ..........148
1504 Repeal of Chapter 2K (charges)—application of
section 266 ....................................................................149
1505 Repeal of Chapter 2K (charges)—cessation of
company registration requirements................................149
1506 Repeal of Chapter 2K (charges)—priority between
registrable charges.........................................................150
1507 New section 440B (restrictions on third party
property rights) ..............................................................150
1508 New subsection 442CB(1) (administrator’s duty of
care)...............................................................................150
1509 New section 588FP (security interests in favour of
an officer of a company etc. void) .................................150
1510 Winding up applied for before the commencement
time................................................................................151
Part 10.14—Transitional provisions relating to the
Corporations Amendment (Corporate Reporting
Reform) Act 2010 152 1510A Definition ......................................................................152
1510B Application of Part 1 of Schedule 1 to the
amending Act ................................................................152
Part 10.15—Transitional provisions relating to the
Corporations Amendment (Financial Market
Supervision) Act 2010 154 1511 Definition ......................................................................154
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1512 Application of amendments...........................................154
1513 Regulations may deal with transitional matters .............154
Part 10.16—Transitional provisions relating to the
Corporations Amendment (No. 1) Act 2010 155 1516 Application of amendments...........................................155
Part 10.17—Transitional provisions relating to the
Corporations Amendment (Improving Accountability
on Director and Executive Remuneration) Act 2011 156 1517 Application of Subdivision B of Division 1 of
Part 2D.3 .......................................................................156
1518 Application of sections 206J, 206K, 206L and
206M .............................................................................156
1519 Application of subsection 249L(2) ................................156
1520 Application of section 250BB .......................................156
1521 Application of section 250BC .......................................157
1522 Application of section 250BD.......................................157
1523 Application of subsections 250R(4) to (10)...................157
1524 Application of Division 9 of Part 2G.2..........................157
1525 Application of amendments of section 300A ................157
Part 10.18—Transitional and application provisions relating to
the Future of Financial Advice Measures 159
Division 1—Provisions relating to the Corporations Amendment
(Further Future of Financial Advice Measures) Act
2012 159
1526 Definitions.....................................................................159
1527 Application of best interests obligations........................160
1528 Application of ban on conflicted remuneration .............160
1529 Application of ban on other remuneration—
volume-based shelf-space fees ......................................161
1530 Regulations do not apply where an acquisition of
property otherwise than on just terms would result .......162
1531 Application of ban on other remuneration—
asset-based fees on borrowed amounts..........................163
Division 2—Provisions relating to the Corporations Amendment
(Financial Advice Measures) Act 2016 164
1531A Definitions.....................................................................164
1531B Best interests obligation ................................................164
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1531C Renewal notices (opt-in requirement) ...........................164
1531D Disclosure statements ....................................................165
1531E Conflicted remuneration................................................165
Part 10.19—Transitional provisions relating to the
Corporations Amendment (Phoenixing and Other
Measures) Act 2012 166 1532 Definition ......................................................................166
1533 Part 1 of Schedule 1 to the amending Act (winding
up by ASIC) ..................................................................166
1534 Part 2 of Schedule 1 to the amending Act
(publication requirements).............................................166
1535 Part 3 of Schedule 1 to the amending Act
(miscellaneous amendments).........................................168
Part 10.20—Transitional provisions relating to the
Corporations Legislation Amendment (Audit
Enhancement) Act 2012 169 1536 Definitions.....................................................................169
1537 Application of amendments relating to annual
transparency reports ......................................................169
Part 10.21—Transitional provision relating to the Corporations
Legislation Amendment (Financial Reporting Panel)
Act 2012 170 1538 Courts etc. may have regard to Financial
Reporting Panel report...................................................170
Part 10.21A—Transitional provisions relating to the
Superannuation Legislation Amendment (Service
Providers and Other Governance Measures) Act 2013 171 1538A Application of amendments relating to
contributions to a fund or scheme..................................171
1538B Application of amendments relating to Statements
of Advice.......................................................................171
Part 10.22—Transitional provisions relating to the
Superannuation Legislation Amendment (Further
MySuper and Transparency Measures) Act 2012 172 1539 Application of section 1017BA (Obligation to
make product dashboard publicly available) .................172
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1540 Application of subsection 1017BB(1) (Obligation
to make information relating to investment of
assets of superannuation entities publicly
available) .......................................................................172
1541 Application of section 1017BC (Obligation to
provide information relating to investment of
assets of superannuation entities) ..................................172
Part 10.23—Transitional provisions relating to the Clean
Energy Legislation (Carbon Tax Repeal) Act 2014 174 1542 Definition ......................................................................174
1543 Transitional—carbon units issued before the
designated carbon unit day ............................................174
1544 Transitional—variation of conditions on
Australian financial services licences ............................174
1545 Transitional—immediate cancellation of
Australian financial services licences ............................175
1546 Transitional—statements of reasons for
cancellation of Australian financial services
licences..........................................................................175
Part 10.23A—Transitional provisions relating to the
Corporations Amendment (Professional Standards of
Financial Advisers) Act 2017 176
Division 1—Definitions 176
1546A Definitions.....................................................................176
Division 2—Application and transitional provisions 178
1546B Existing providers to meet certain education and
training standards ..........................................................178
1546C Application of limitation on authorisation to
provide personal advice and offence .............................179
1546D Application of requirements relating to provisional
relevant providers ..........................................................180
1546E Application of continuing professional
development standard for relevant providers.................180
1546F Application of Code of Ethics to relevant
providers........................................................................182
1546G Application of obligations in relation to
compliance schemes ......................................................182
1546H Application of obligation for standards body to
publish annual report .....................................................183
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1546J Application of obligation to notify ASIC about a
person who becomes a relevant provider.......................184
1546K Application of requirements relating to
information about relevant provider’s principal
place of business............................................................184
1546L Application of requirements relating to
information about membership of professional
associations where relevant provider is licensee ...........184
1546M Application of requirements relating to
information about membership of professional
associations where relevant provider is not
licensee..........................................................................185
1546N Application of requirements relating to
information about provisional relevant provider’s
work and training ..........................................................185
1546P Application of ongoing obligation to notify ASIC
when there is a change in a matter for a relevant
provider .........................................................................186
1546Q Application of obligation to notify ASIC about a
person who starts to have control of a body
corporate licensee..........................................................186
1546R Application of obligation to notify ASIC about a
person who ceases to have control of a body
corporate licensee..........................................................187
1546S Application of obligation for relevant providers to
provide information to financial services licensees .......187
1546T Application of requirements relating to Register of
Relevant Providers ........................................................188
1546U Relevant provider numbers given before
commencement..............................................................188
1546V Continuation of Register of Relevant Providers ............188
Division 3—Transitional notices 189
1546W Obligation to notify ASIC of certain information..........189
1546X Obligation to notify ASIC of CDP year ........................189
1546Y Obligation to notify ASIC when exams passed .............190
1546Z Obligation to notify ASIC of certain information
after banning order ........................................................190
1546ZA Offence for failing to lodge transitional notices ............191
Division 4—Review 192
1546ZB Review ..........................................................................192
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Part 10.24—Transitional provisions relating to the
Corporations Legislation Amendment (Deregulatory
and Other Measures) Act 2014 193 1547 Definitions.....................................................................193
1548 Application of amendments relating to calling of
general meetings............................................................193
1549 Application of amendments relating to directors’
reports for listed companies...........................................193
Part 10.25—Transitional provisions relating to the Insolvency
Practice Schedule (Corporations) 194
Division 1—Introduction 194
1550 Simplified outline of this Part........................................194
1551 Definitions.....................................................................195
Division 2—Application of Part 2 of the Insolvency Practice
Schedule (Corporations) and related consequential
amendments 197
Subdivision A—Registering liquidators 197
1552 Applications for registration under the old Act .............197
1553 Persons registered under the old Act continue to be
registered under the Insolvency Practice Schedule
(Corporations) ...............................................................198
1554 Old Act registrant’s details ............................................199
1555 Period of old Act registrant’s registration under the
Insolvency Practice Schedule (Corporations)................199
1556 Conditions for old Act registrants—conditions
under the Insolvency Practice Schedule
(Corporations) ...............................................................200
1557 Current conditions for old Act registrants—
undertakings under the old Act......................................200
1558 Current conditions for old Act registrants—
undertakings under the ASIC Act..................................201
1559 Old Act registrant registered as liquidator of a
specified body corporate................................................201
1560 Old Act registrant chooses not to renew........................202
Subdivision B—Annual returns and statements 203
1561 Application of obligation to lodge annual
liquidator returns ...........................................................203
Subdivision C—Notice requirements 204
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1562 Notice of significant events ...........................................204
Subdivision D—Cancellation by ASIC under the old Act 205
1563 Request for cancellation made before the
commencement day.......................................................205
1564 Decision to cancel registration made before the
commencement day.......................................................205
Subdivision E—Disciplinary proceedings before the Board 206
1565 Matters not dealt with by the Board before the
commencement day.......................................................206
1566 Matters dealt with by the Board before the
commencement day.......................................................207
1567 Matters which the Board refuses to deal with
before the commencement day ......................................208
1568 Board considering terminating suspension before
the commencement day .................................................209
1569 Sharing information between the Board and
committees ....................................................................209
Subdivision F—Suspension, cancellation and disciplinary action
under the Insolvency Practice Schedule
(Corporations) 210
1570 Direction to comply with requirement to lodge
documents etc. ...............................................................210
1571 Suspension by ASIC under the Insolvency Practice
Schedule (Corporations)................................................210
1572 Cancellation by ASIC under the Insolvency
Practice Schedule (Corporations) ..................................210
1573 Show-cause notice under the Insolvency Practice
Schedule (Corporations)................................................211
1574 Lifting or shortening suspension under the
Insolvency Practice Schedule (Corporations)................211
1575 Action initiated by industry bodies................................211
Subdivision G—Powers of the Court and other bodies 211
1576 Application of court powers under section 45-1 of
the Insolvency Practice Schedule (Corporations) ..........211
1577 Powers to deal with registration under the old Act
on or after the commencement day................................212
Division 3—Application of Part 3 of the Insolvency Practice
Schedule (Corporations) and related consequential
amendments 213
Subdivision A—Introduction 213
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1578 Simplified outline of this Division ................................213
Subdivision B—General rules for Part 3 214
1579 Application of Part 3 of the Insolvency Practice
Schedule (Corporations)—general rules........................214
Subdivision C—Remuneration and other benefits received by
external administrators 214
1580 Application of Division 60 of the Insolvency
Practice Schedule (Corporations)—general rule ...........214
1581 Old Act continues to apply in relation to
remuneration for administrators already appointed .......214
1582 Duties of administrators relating to remuneration
and other benefits ..........................................................215
1583 Old Act continues to apply in relation to any right
of indemnity ..................................................................215
1584 Application of new provisions about vacancies of
court-appointed liquidator .............................................216
1585 Application of new provisions about exercise of
powers while company under external
administration................................................................216
Subdivision D—Funds handling 216
1586 Application of Division 65 of the Insolvency
Practice Schedule (Corporations)—general rule ...........216
1587 Administration account .................................................217
1588 Paying money into administration account....................217
1589 Paying money out of administration account ................217
1590 Handling securities ........................................................218
Subdivision E—Information 218
1591 Application of Division 70 of the Insolvency
Practice Schedule (Corporations)—general rule ...........218
1592 Accounts and administration returns .............................218
1593 Administration books ....................................................219
1594 Audit of administration books .......................................220
1595 Transfer of administration books...................................220
1596 Retention and destruction of administration books .......220
1597 Giving information to creditors etc................................221
1598 Commonwealth may request information......................222
1599 Reporting to ASIC.........................................................222
1600 Old Act continues to apply in relation to notices to
remedy default...............................................................222
Subdivision F—Meetings 222
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1601 Application of Division 75 of the Insolvency
Practice Schedule (Corporations)—general rule ...........222
1602 External administrator must convene meetings in
certain circumstances ....................................................223
1603 Old Act continues to apply in relation to reporting
for first year of administration.......................................223
1604 Old Act continues to apply to the deregistration of
companies......................................................................224
1605 Old Act continues to apply for certain meetings
convened etc. before commencement day .....................224
1606 Outcome of voting at creditors’ meeting
determined by related entity or on casting vote—
Court powers .................................................................225
Subdivision G—Committees of inspection 225
1607 Application of Division 80 of the Insolvency
Practice Schedule (Corporations)—general rules..........225
1608 Appointing committees of inspection............................226
1609 Old Act continues to apply to certain reports by
administrator .................................................................227
1610 Membership of continued committees...........................227
1611 Validity of appointment under section 548 of the
old Act not affected by lack of separate meeting of
contributories.................................................................228
1612 Continued application of directions by creditors or
committees under the old Act........................................229
1613 Committee of inspection may request information........229
1614 Duties of members of committee of inspection and
creditors relating to profits and advantages etc..............229
Subdivision H—Review of the external administration of a
company 230
1615 Application of Division 90 of the Insolvency
Practice Schedule (Corporations)—general rule ...........230
1616 Application of the Insolvency Practice Schedule
(Corporations) provisions that conflict with old
Act Court orders—general rule .....................................230
1617 Old Act continues to apply in relation to ongoing
proceedings before a court—general rule......................230
1618 Court powers to inquire into and make orders...............231
1619 Review by another registered liquidator........................232
1620 Removal by creditors.....................................................233
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Division 4—Administrative review 234
1621 Administrative Appeals Tribunal proceedings ..............234
Division 5—Application of other consequential amendments 235
1622 Outcome of voting at creditors’ meeting
determined by related entity or on casting vote—
Court powers .................................................................235
1623 Returns and accounts by controllers ..............................235
1624 Transfer of books by a controller to a new
controller or ASIC.........................................................236
1625 Officers reporting to controller about corporation’s
affairs ............................................................................236
1626 Lodging notice of execution of a deed of company
arrangement...................................................................236
1627 Office of liquidator appointed by the Court...................236
1628 Report as to company’s affairs to be submitted to
liquidator .......................................................................237
1629 Orders for release or deregistration ...............................237
1630 Meeting relating to the voluntary winding up of a
company ........................................................................237
1631 Pooling determinations..................................................237
1632 Electronic methods of giving or sending certain
notices ...........................................................................238
1633 Deregistration following winding up.............................238
Division 6—Regulations 239
1634 Regulations....................................................................239
Part 10.26—Transitional provisions relating to Schedule 3 to
the Insolvency Law Reform Act 2016 240 1635 Application of amendments made by Schedule 3 to
the Insolvency Law Reform Act 2016 ............................240
Part 10.28—Transitional provisions relating to the Treasury
Laws Amendment (2016 Measures No. 1) Act 2017 242 1637 Application of subparagraph 1274(2)(a)(iva) and
subsections 1274(2AA) and (2AB) ...............................242
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Schedule 2—Insolvency Practice Schedule
(Corporations) 243
Part 1—Introduction 243
Division 1—Introduction 243
1-1 Object of this Schedule..................................................243
1-5 Simplified outline of this Schedule ...............................243
Division 5—Definitions 245
Subdivision A—Introduction 245
5-1 Simplified outline of this Division ................................245
Subdivision B—The Dictionary 245
5-5 The Dictionary...............................................................245
Subdivision C—Other definitions 248
5-10 Meaning of current conditions ......................................248
5-15 Meaning of external administration of a company........249
5-20 Meaning of external administrator of a company .........249
5-25 References to the external administrator of a
company ........................................................................250
5-26 Property of a company ..................................................250
5-27 Meaning of pooled group ..............................................250
5-30 Persons with a financial interest in the external
administration of a company .........................................251
Part 2—Registering and disciplining practitioners 252
Division 10—Introduction 252
10-1 Simplified outline of this Part........................................252
10-5 Working cooperatively with the Inspector-General
in Bankruptcy ................................................................253
Division 15—Register of liquidators 254
15-1 Register of Liquidators..................................................254
Division 20—Registering liquidators 255
Subdivision A—Introduction 255
20-1 Simplified outline of this Division ................................255
Subdivision B—Registration 255
20-5 Application for registration ...........................................255
20-10 ASIC may convene a committee to consider.................256
20-15 ASIC must refer applications to a committee ................256
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20-20 Committee to consider applications ..............................256
20-25 Committee to report.......................................................258
20-30 Registration ...................................................................258
20-35 Conditions imposed on all registered liquidators or
a class of registered liquidators .....................................259
Subdivision C—Varying etc. conditions of registration 260
20-40 Application to vary etc. conditions of registration.........260
20-45 ASIC may convene a committee to consider
applications ...................................................................260
20-50 ASIC must refer applications to a committee ................261
20-55 Committee to consider applications ..............................261
20-60 Committee to report.......................................................261
20-65 Committee’s decision given effect ................................261
Subdivision D—Renewal 262
20-70 Application for renewal.................................................262
20-75 Renewal.........................................................................262
Subdivision E—Offences relating to registration 263
20-80 False representation that a person is a registered
liquidator .......................................................................263
Division 25—Insurance 264
25-1 Registered liquidators to maintain insurance.................264
Division 30—Annual liquidator returns 265
30-1 Annual liquidator returns...............................................265
Division 35—Notice requirements 267
35-1 Notice of significant events ...........................................267
35-5 Notice of other events....................................................268
Division 40—Disciplinary and other action 269
Subdivision A—Introduction 269
40-1 Simplified outline of this Division ................................269
Subdivision B—Direction to comply 270
40-5 Registered liquidator to remedy failure to lodge
documents or give information or documents ...............270
40-10 Registered liquidator to correct inaccuracies etc. ..........271
40-15 Direction not to accept further appointments ................273
Subdivision C—Automatic cancellation 274
40-20 Automatic cancellation..................................................274
Subdivision D—ASIC may suspend or cancel registration 274
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40-25 ASIC may suspend registration .....................................274
40-30 ASIC may cancel registration........................................276
40-35 Notice of suspension or cancellation .............................277
Subdivision E—Disciplinary action by committee 277
40-40 ASIC may give a show-cause notice .............................277
40-45 ASIC may convene a committee ...................................279
40-50 ASIC may refer matters to the committee .....................279
40-55 Decision of the committee.............................................280
40-60 Committee to report.......................................................281
40-65 ASIC must give effect to the committee’s decision.......282
Subdivision F—Lifting or shortening suspension 282
40-70 Application to lift or shorten suspension .......................282
40-75 ASIC may convene a committee to consider
applications ...................................................................282
40-80 ASIC must refer applications to a committee ................283
40-85 Committee to consider applications ..............................283
40-90 Committee to report.......................................................283
40-95 Committee’s decision given effect ................................284
Subdivision G—Action initiated by industry body 284
40-100 Notice by industry bodies of possible grounds for
disciplinary action .........................................................284
40-105 No liability for notice given in good faith etc................286
40-110 Meaning of industry bodies ...........................................286
Subdivision H—Consequences of certain disciplinary and other
action 286
40-111 Appointment of another liquidator if liquidator’s
registration is suspended or cancelled ...........................286
Division 45—Court oversight of registered liquidators 288
45-1 Court may make orders in relation to registered
liquidators......................................................................288
45-5 Court may make orders about costs...............................289
Division 50—Committees under this Part 290
50-1 Simplified outline of this Division ................................290
50-5 Prescribed body appointing a person to a
committee......................................................................290
50-10 Minister appointing a person to a committee.................291
50-15 Single committee may consider more than one
matter ............................................................................292
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50-20 Ongoing consideration of matters by committee ...........293
50-25 Procedure and other rules relating to committees ..........293
50-30 Remuneration of committee members...........................293
50-35 Committee must only use information etc. for
purposes for which disclosed.........................................294
Part 3—General rules relating to external administrations 296
Division 55—Introduction 296
55-1 Simplified outline of this Part........................................296
Division 60—Remuneration and other benefits received by
external administrators 298
Subdivision A—Introduction 298
60-1 Simplified outline of this Division ................................298
Subdivision B—Remuneration of external administrators—
general rules 299
60-2 Application of this Subdivision .....................................299
60-5 External administrator’s remuneration ..........................299
60-10 Remuneration determinations........................................300
60-11 Review of remuneration determinations........................301
60-12 Matters to which the Court must have regard ................302
60-15 Maximum default amount .............................................303
Subdivision C—Remuneration of provisional liquidators 305
60-16 Remuneration of provisional liquidators .......................305
Subdivision D—Remuneration of liquidators in winding up by
ASIC 305
60-17 Remuneration of liquidators in winding up by
ASIC..............................................................................305
Subdivision E—Duties of external administrators relating to
remuneration and benefits etc. 306
60-20 External administrator must not derive profit or
advantage from the administration of the company.......306
Division 65—Funds handling 309
65-1 Simplified outline of this Division ................................309
65-5 External administrator must pay all money into an
administration account ..................................................309
65-10 Administration accounts................................................310
65-15 External administrator must not pay other money
into the administration account......................................311
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65-20 Consequences for failure to pay money into
administration account ..................................................311
65-25 Paying money out of administration account ................312
65-40 Handling securities ........................................................313
65-45 Handling of money and securities—Court
directions.......................................................................314
65-50 Rules in relation to consequences for failure to
comply with this Division .............................................315
Division 70—Information 316
Subdivision A—Introduction 316
70-1 Simplified outline of this Division ................................316
Subdivision B—Administration returns 317
70-5 Annual administration return.........................................317
70-6 End of administration return..........................................318
Subdivision C—Record-keeping 320
70-10 Administration books ....................................................320
70-15 Audit of administration books—ASIC ..........................321
70-20 Audit of administration books—on order of the
Court..............................................................................322
70-25 External administrator to comply with auditor
requirements ..................................................................322
70-30 Transfer of books to new administrator.........................323
70-31 Transfer of books to ASIC etc. ......................................325
70-35 Retention and destruction of books ...............................327
70-36 Books of company in external administration—
evidence ........................................................................328
Subdivision D—Giving information etc. to creditors and others 329
70-40 Right of creditors to request information etc. from
external administrator....................................................329
70-45 Right of individual creditor to request information
etc. from external administrator.....................................329
70-46 Right of members to request information etc. from
external administrator in a members’ voluntary
winding up.....................................................................330
70-47 Right of individual member to request information
etc. from external administrator in a members’
voluntary winding up.....................................................331
70-50 Reporting to creditors and members..............................331
Subdivision E—Other requests for information etc. 332
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70-55 Commonwealth may request information etc. ...............332
Subdivision F—Reporting to ASIC 333
70-60 Insolvency Practice Rules may provide for
reporting to ASIC ..........................................................333
Subdivision G—External administrator may be compelled to
comply with requests for information etc. 334
70-65 Application of this Subdivision .....................................334
70-70 ASIC may direct external administrator to comply
with the request for relevant material ............................334
70-75 ASIC must notify external administrator before
giving a direction under section 70-70 ..........................335
70-80 ASIC must not direct external administrator to
give the relevant material if external administrator
entitled not to comply with the request..........................335
70-85 ASIC may impose conditions on use of the
relevant material ............................................................336
70-90 Court may order relevant material to be given ..............336
Division 75—Meetings 338
75-1 Simplified outline of this Division ................................338
75-5 Other obligations to convene meetings not affected ......338
75-10 External administrator may convene meetings ..............338
75-15 External administrator must convene meeting in
certain circumstances ....................................................339
75-20 External administrator must convene meeting if
required by ASIC ..........................................................340
75-25 External administrator’s representative at meetings ......340
75-30 ASIC may attend meetings ............................................341
75-35 Commonwealth may attend certain meetings etc. .........341
75-40 Proposals to creditors or contributories without
meeting..........................................................................341
75-41 Outcome of voting at creditors’ meeting
determined by related entity—Court powers.................343
75-42 Creditors’ resolution passed because of casting
vote—Court review .......................................................344
75-43 Proposed creditors’ resolution not passed because
of casting vote—Court’s powers ...................................345
75-44 Interim order on application under section 75-41,
75-42 or 75-43...............................................................346
75-45 Order under section 75-41 or 75-42 does not affect
act already done pursuant to resolution .........................347
75-50 Rules relating to meetings .............................................347
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Division 80—Committees of inspection 349
80-1 Simplified outline of this Division ................................349
80-5 Application of sections 80-10 to 80-25 .........................350
80-10 Committee of inspection—company not a member
of a pooled group...........................................................350
80-15 Appointment and removal of members of
committee of inspection by creditors generally .............350
80-20 Appointment of committee member by large
creditor ..........................................................................351
80-25 Appointment of committee member by employees .......352
80-26 Committee of inspection—pooled groups .....................353
80-27 External administrator must convene meeting in
certain circumstances ....................................................354
80-30 Committees of inspection—procedures etc. ..................356
80-35 Functions of committee of inspection............................356
80-40 Committee of inspection may request information
etc. .................................................................................357
80-45 Reporting to committee of inspection............................357
80-50 Committee of inspection may obtain specialist
advice or assistance .......................................................358
80-55 Obligations of members of committee of
inspection ......................................................................359
80-60 Obligations of creditor appointing a member of
committee of inspection ................................................361
80-65 ASIC may attend committee meetings ..........................362
80-70 The Court may inquire into conduct of the
committee......................................................................362
Division 85—Directions by creditors 363
85-1 Simplified outline of this Division ................................363
85-5 External administrator to have regard to directions
given by creditors ..........................................................363
Division 90—Review of the external administration of a
company 364
Subdivision A—Introduction 364
90-1 Simplified outline of this Division ................................364
Subdivision B—Court powers to inquire and make orders 365
90-5 Court may inquire on own initiative ..............................365
90-10 Court may inquire on application of creditors etc. ........365
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90-15 Court may make orders in relation to external
administration................................................................366
90-20 Application for Court order ...........................................368
90-21 Meetings to ascertain wishes of creditors or
contributories.................................................................369
Subdivision C—Review by another registered liquidator 370
90-22 Application of this Subdivision .....................................370
90-23 Appointment of reviewing liquidator by ASIC or
the Court........................................................................370
90-24 Appointment of reviewing liquidator by creditors
etc. .................................................................................371
90-25 Reviewing liquidator must consent to appointment.......373
90-26 Review ..........................................................................373
90-27 Who pays for a review?.................................................374
90-28 Court orders in relation to review..................................374
90-29 Rules about reviews.......................................................376
Subdivision D—Removal by creditors 376
90-30 Application of this Subdivision .....................................376
90-35 Removal by creditors.....................................................377
Part 4—Other matters 379
Division 95—Introduction 379
95-1 Simplified outline of this Part........................................379
Division 100—Other matters 380
100-5 External administrator may assign right to sue
under this Act ................................................................380
100-6 Approved forms.............................................................380
Division 105—The Insolvency Practice Rules 382
105-1 The Insolvency Practice Rules ......................................382
Schedule 3—Penalties 383
Schedule 4—Transfer of financial institutions and
friendly societies 419
Part 1—Preliminary 419 1 Definitions.....................................................................419
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Part 2—Financial institutions that became companies 423
Division 1—Registration and its consequences 423
3 Background (registration of transferring financial
institution as company) .................................................423
4 Rules applied to transferring institution that was
registered as a company under the transfer
provisions ......................................................................423
11 Transferring financial institution under external
administration................................................................424
Division 2—Membership 427
12 Institution that became a company limited by
shares.............................................................................427
13 Institution that became a company limited by
guarantee .......................................................................428
14 Institution becoming a company limited by shares
and guarantee ................................................................429
15 Redeemable preference shares that were
withdrawable shares ......................................................430
16 Liability of members on winding up .............................430
Division 3—Share capital 432
17 Share capital ..................................................................432
18 Application of no par value rule ....................................433
19 Calls on partly-paid shares ............................................433
20 References in contracts and other documents to par
value ..............................................................................433
Part 4—The transition period 435 25 ASIC may direct directors of a company to modify
its constitution ...............................................................435
27 When certain modifications of a company’s
constitution under an exemption or declaration
take effect ......................................................................436
Part 5—Demutualisations 438 29 Disclosure for proposed demutualisation ......................438
30 ASIC’s exemption power ..............................................440
31 Coverage of disclosure statement ..................................441
32 Registration of disclosure statement..............................441
33 Expert’s report...............................................................443
34 Unconscionable conduct in relation to
demutualisations............................................................444
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35 Orders the Court may make...........................................445
Part 6—Continued application of fundraising provisions of the
Friendly Societies Code 447 36 Friendly Societies Code to apply to offers of
interests in benefit funds................................................447
Part 7—Transitional provisions 449 37 Unclaimed money .........................................................449
38 Modification by regulations ..........................................450
39 Regulations may deal with transitional, saving or
application matters ........................................................451
Endnotes 453
Endnote 1—About the endnotes 453
Endnote 2—Abbreviation key 455
Endnote 3—Legislation history 456
Endnote 4—Amendment history 473
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Transitional provisions Chapter 10
Transition from the old corporations legislation Part 10.1
Preliminary Division 1
Section 1370
Corporations Act 2001 1
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Chapter 10—Transitional provisions
Part 10.1—Transition from the old corporations
legislation
Division 1—Preliminary
1370 Object of Part
(1) Subject to subsection (3), the object of this Part is to provide for a
smooth transition from the regime provided for in the old
corporations legislation of the States and Territories in this
jurisdiction to the regime provided for in the new corporations
legislation, so that individuals, bodies corporate and other bodies
are, to the greatest extent possible, put in the same position
immediately after the commencement as they would have been if:
(a) that old corporations legislation had, from time to time when
it was in force, been valid Commonwealth legislation
applying throughout those States and Territories; and
(b) the new corporations legislation (to the extent it contains
provisions that correspond to provisions of the old
corporations legislation as in force immediately before the
commencement) were a continuation of that old corporations
legislation as so applying.
Note: The new corporations legislation contains provisions that correspond
to most of the provisions of the old corporations legislation.
Generally, the only exceptions to this are provisions of the old
corporations legislation that related to the fact that the Corporations
Law operated separately in each of the States and Territories (rather
than as a single national law).
(2) In resolving any ambiguity as to the meaning of any of the other
provisions of this Part, an interpretation that is consistent with the
object of this Part is to be preferred to an interpretation that is not
consistent with that object.
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Part 10.1 Transition from the old corporations legislation
Division 1 Preliminary
Section 1371
2 Corporations Act 2001
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(3) This Part does contain some provisions (for example,
subsection 1400(4)) which apply or extend to matters under the old
corporations legislation of any non-referring State.
1371 Definitions
(1) In this Part:
carried over provision of the old corporations legislation of a State
or Territory in this jurisdiction means a provision of the old
corporations legislation of that State or Territory that:
(a) was in force immediately before the commencement; and
(b) corresponds to a provision of the new corporations
legislation.
commencement means the commencement of this Act.
corresponds has a meaning affected by subsections (2), (3) and (4).
instrument means:
(a) any instrument of a legislative character (including an Act or
regulations) or of an administrative character; or
(b) any other document.
liability includes a duty or obligation.
made includes issued, given or published.
new corporations legislation means:
(a) this Act; and
(b) the new Corporations Regulations (as amended and in force
from time to time) and any other regulations made under this
Act; and
(c) the laws of the Commonwealth referred to in paragraph (c) of
the definition of old corporations legislation, being those
laws as they apply after the commencement; and
(d) the preserved instruments.
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Transition from the old corporations legislation Part 10.1
Preliminary Division 1
Section 1371
Corporations Act 2001 3
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new Corporations Regulations means the regulations that, because
of section 1380, have effect as if they were made under
section 1364.
old application Act for a State or Territory means:
(a) in the case of New South Wales—the Corporations (New
South Wales) Act 1990 of New South Wales as in force from
time to time before the commencement; or
(b) in the case of Victoria—the Corporations (Victoria) Act 1990
of Victoria as in force from time to time before the
commencement; or
(c) in the case of Queensland—the Corporations (Queensland)
Act 1990 of Queensland as in force from time to time before
the commencement; or
(d) in the case of Western Australia—the Corporations (Western
Australia) Act 1990 of Western Australia as in force from
time to time before the commencement; or
(e) in the case of South Australia—the Corporations (South
Australia) Act 1990 of South Australia as in force from time
to time before the commencement; or
(f) in the case of Tasmania—the Corporations (Tasmania) Act
1990 of Tasmania as in force from time to time before the
commencement; or
(g) in the case of the Australian Capital Territory—the old
Corporations Act; or
(h) in the case of the Northern Territory—the Corporations
(Northern Territory) Act 1990 of the Northern Territory as in
force from time to time before the commencement.
old Corporations Act means the Corporations Act 1989 as in force
from time to time before the commencement.
old Corporations Law means:
(a) when used in relation to a particular State or Territory—the
Corporations Law of that State or Territory, within the
meaning of the old application Act for that State or Territory,
as in force from time to time before the commencement; or
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Division 1 Preliminary
Section 1371
4 Corporations Act 2001
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(b) when used in general terms—the Corporations Law set out in
section 82 of the old Corporations Act as in force from time
to time before the commencement.
old corporations legislation of a particular State or Territory
means:
(a) the old Corporations Law and old Corporations Regulations
of that State or Territory, and any instruments made under
that Law or those Regulations; and
(b) the old application Act for that State or Territory, and any
instruments made under that Act; and
(c) either:
(i) when used in relation to a State or the Northern
Territory—the laws of the Commonwealth as applying
in relation to the old Corporations Law and the old
Corporations Regulations of the State or Territory from
time to time before the commencement as laws of, or
for the government of, that State or Territory because of
Part 8 of the old Application Act for that State or
Territory, and any instruments made under those laws as
so applying; or
(ii) when used in relation to the Australian Capital
Territory—the laws of the Commonwealth referred to in
subparagraph (i), but as applying of their own force in
relation to the old Corporations Law and old
Corporations Regulations of the Territory, and any
instruments made under those laws as so applying.
old Corporations Regulations means:
(a) when used in relation to a particular State or Territory—the
Corporations Regulations of that State or Territory, within
the meaning of the old application Act for that State or
Territory, as in force from time to time before the
commencement; or
(b) when used in general terms—the regulations made under
section 22 of the old Corporations Act as in force from time
to time before the commencement.
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order, in relation to a court, includes any judgment, conviction or
sentence of the court.
pre-commencement right or liability has the meaning given by
subsection 1400(1) or 1401(1).
preserved instrument means an instrument that, because of
section 1399, has effect after the commencement as if it were made
under a provision of the new corporations legislation.
right includes an interest or status.
substituted right or liability has the meaning given by
subsection 1400(2) or 1401(3).
this Part includes regulations made for the purposes of any of the
provisions of this Part.
(2) Subject to subsection (4), for the purposes of this Part, a provision
or part (the old provision or part) of the old corporations
legislation of a State or Territory corresponds to a provision or part
(the new provision or part) of the new corporations legislation
(and vice versa) if:
(a) the old provision or part and the new provision or part are
substantially the same, unless the regulations specify that the
2 provisions or parts do not correspond; or
(b) the regulations specify that the 2 provisions or parts
correspond.
Note: The range of provisions of the new corporations legislation that may
be corresponding provisions for the purposes of this Part is affected by
sections 1401 and 1408, which take certain provisions of the old
corporations legislation to be included in the new corporations
legislation.
(3) For the purposes of paragraph (2)(a), differences of all or any of
the following kinds are not sufficient to mean that 2 provisions or
parts are not substantially the same:
(a) differences in the numbering of the provisions or parts;
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(b) differences of a minor technical nature (for example,
differences in punctuation, or differences that are attributable
to the correction of incorrect cross references);
(c) the fact that one of the provisions refers to a corresponding
previous law and the other does not;
(d) that fact that:
(i) the old provision or part allowed a court to exercise
powers on its own motion but the new provision or part
does not; or
(ii) the old provision or part required a court to apply a
criterion of public interest but the new provision or part
requires a court to apply a criterion of justice and
equity; or
(iii) the new provision or part requires ASIC to take account
of public interest but the old provision or part did not;
(e) other differences that are attributable to the fact that the new
corporations legislation applies as a Commonwealth law
throughout this jurisdiction;
(f) other differences of a kind prescribed by the regulations for
the purposes of this paragraph.
This subsection is not intended to otherwise limit the
circumstances in which 2 provisions or parts are, for the purposes
of paragraph (2)(a), substantially the same.
(4) The regulations may provide that a specified provision of the old
corporations legislation of a State or Territory does, or does not,
correspond to a specified provision of the new corporations
legislation.
1372 Relationship of Part with State validation Acts
(1) This Part applies to an invalid administrative action of a
Commonwealth authority or an officer of the Commonwealth
(within the meaning of a State validation Act) as if the
circumstances that made the authority’s or officer’s action an
invalid administrative action had not made the action invalid.
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Note 1: So, for example, in determining whether the purported registration of
a company is an action to which this Part (in particular Division 2)
applies, the circumstances that made the action an invalid
administrative action for the purposes of a State validation Act are to
be disregarded.
Note 2: For the status and effect of invalid administrative actions in relation to
times before the commencement, see the State validation Acts.
(2) However, if there are other circumstances that affect or may affect
the validity of the action, neither this section, nor anything else in
this Part, is taken to negate the effect of those other circumstances.
(3) If:
(a) a person would have had a right or liability under a provision
(the old provision) of the old corporations legislation of a
State if the circumstances that made the authority’s or
officer’s action an invalid administrative action (within the
meaning of the State validation Act of that State) had not
made the action invalid; and
(b) the effect of that State validation Act in relation to that action
is to declare that the person has, and is taken always to have
had, the same rights and liabilities as they would have had
under the old provision if the invalid administrative action
had been taken, or purportedly taken, at the relevant time by
a duly authorised State authority or officer of the State
(within the meaning of that Act);
this Part applies as if:
(c) a reference to a right or liability arising under the old
corporations legislation included a reference to the right or
liability that the person is declared to have by the State
validation Act; and
(d) that right or liability arose under the old provision.
(4) In this section:
State validation Act means an Act of a State in this jurisdiction
under which certain administrative actions (within the meaning of
that Act) taken, or purportedly taken, at or before the
commencement by Commonwealth authorities or officers of the
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Commonwealth (within the meaning of that Act) pursuant to
functions or powers (the relevant functions or powers) conferred,
or purportedly conferred, by or under laws that include the old
application Act for that State have, and are deemed always to have
had, the same force and effect for all purposes as they would have
had if:
(a) they had been taken, or purportedly taken by a State authority
or officer of the State (within the meaning of that Act); and
(b) the relevant functions or powers had been duly conferred on
those authorities or officers.
1373 References to things taken or deemed to be the case etc.
If:
(a) a law of a State or Territory in this jurisdiction had effect
before the commencement:
(i) to take or deem something to have happened or to be the
case, or to have a particular effect, under or for the
purposes of the old corporations legislation of that State
or Territory (or a provision of that legislation); or
(ii) to give something an effect for the purposes of the old
corporations legislation of that State or Territory (or a
provision of that legislation) that it would not otherwise
have had; and
(b) that effect was continuing immediately before the
commencement;
this Part applies as if that thing had actually happened or were
actually the case, or as if that thing actually had that other effect.
Note: So, for example, if a provision of the old corporations legislation, or
another law, of a State or Territory in this jurisdiction took a company
to be registered under Part 2A.2 of the old Corporations Law of the
State or Territory, this Part applies as if the company were actually
registered under that Part.
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1374 Existence of several versions of old corporations legislation
does not result in this Part operating to take same thing to
be done several times under new corporations legislation
etc.
If, apart from this section, a provision of this Part (the transitional
provision) would, because each State or Territory in this
jurisdiction had its own old corporations legislation (containing
parallel provisions) before the commencement, operate so that:
(a) a particular thing done before the commencement would be
taken to be done, or have effect, 2 or more times by, under or
for the purposes of, a provision of this Act; or
(b) a right or liability would be created 2 or more times in
respect of a particular event, circumstance or thing that
happened before the commencement; or
(c) a particular result or effect would be produced 2 or more
times for the purposes of the new corporations legislation in
relation to the same matter;
the transitional provision is taken to operate so that:
(d) if paragraph (a) applies—the thing is taken to be done or
have effect only once by, under, or for the purposes of, the
provision of the new corporations legislation; or
(e) if paragraph (b) applies—the right or liability is created only
once in respect of the event, circumstance or thing; or
(f) if paragraph (c) applies—the result or effect is produced only
once in relation to the matter.
Note: So, for example, if a body (because of the operation of section 102A
of the old Corporations Law) was registered under section 601CB of
the old Corporations Law of several States and Territories and those
registrations were still in force immediately before the
commencement, section 1399 does not apply separately to each of
those registrations.
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1375 Penalty units in respect of pre-commencement conduct remain
at $100
(1) If, because of this Part, an offence can be prosecuted after the
commencement in respect of conduct that occurred solely before
the commencement, the amount of a penalty unit in respect of that
offence is $100.
(2) If, because of this Part, section 1314 of this Act applies to conduct
that started before the commencement and that continued after the
commencement, then, for the purposes of the application of that
section to that conduct (including the post-commencement
conduct), the amount of a penalty unit is $100.
(3) This section has effect despite section 4AA of the Crimes Act
1914.
1376 Ceasing to be a referring State does not affect previous
operation of this Part
If, after the commencement, a State ceases to be a referring State,
that does not undo or affect:
(a) the effects that this Part has already had in relation to matters
connected with that State; or
(b) the ongoing effect of this Act as it operates because of the
effects referred to in paragraph (a).
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Division 2—Carrying over registration of companies
1377 Division has effect subject to Division 7 regulations
This Division has effect subject to regulations made for the
purposes of Division 7.
1378 Existing registered companies continue to be registered
(1) If:
(a) before the commencement, a company was registered under
Part 2A.2 of the old Corporations Law of a State or Territory
in this jurisdiction; and
(b) that registration was still in force immediately before the
commencement;
the registration of the company has effect (and may be dealt with)
after the commencement as if it were a registration of the company
under Part 2A.2 of this Act as a company of whichever of the
company types listed in subsection (2) corresponds to its previous
class and type.
Note: The carrying over of other matters (for example, the registration of
registered managed investment schemes and of registered bodies) is
covered by the more general transitional provisions in Division 6.
(2) The company types are as follows:
(a) a proprietary company limited by shares;
(b) an unlimited proprietary company;
(c) a proprietary company limited both by shares and by
guarantee;
(d) a public company limited by shares;
(e) an unlimited public company;
(f) a company limited by guarantee;
(g) a public company limited both by shares and by guarantee;
(h) a no liability company.
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(3) The application of subsection (1) in relation to the registration of a
company does not have the effect of creating that company as a
new legal entity. Rather, it has the effect of continuing the
existence of the legal entity that is that company with the same
characteristics and attributes as it had immediately before the
commencement. The date of the company’s first registration
remains the same (see subsection 1402(2)), and a new certificate of
registration does not need to be issued.
Note: The company will, for example, retain the same name, ACN,
constitution and registered office as it had immediately before the
commencement. Its certificate of registration will (because of
section 1399) have effect as if it were issued under section 118 of this
Act.
(4) The State or Territory in which the company is taken to be
registered is the State or Territory under whose old Corporations
Law the company was registered immediately before
commencement. This subsection has effect subject to
subsection 119A(3).
Note: For the general provisions about jurisdiction of incorporation and
jurisdiction of registration, see section 119A.
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Division 3—Carrying over the old Corporations
Regulations
1379 Division has effect subject to Division 7 regulations
This Division has effect subject to regulations made for the
purposes of Division 7.
1380 Old Corporations Regulations continue to have effect
The old Corporations Regulations that were made for the purposes
of provisions of the old Corporations Law that correspond to
provisions of this Act and that were in force immediately before
the commencement continue to have effect (and may be dealt with)
after the commencement as if:
(a) they were regulations in force under section 1364 of this Act;
and
(b) they were made for the purposes of the corresponding
provisions of this Act.
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Division 4—Court proceedings and orders
1381 Division has effect subject to Division 7 regulations
This Division has effect subject to regulations made for the
purposes of Division 7.
1382 Definitions
(1) In this Division:
appeal or review proceeding, in relation to an order of a court,
means a proceeding by way of appeal, or otherwise seeking review,
of the order.
enforcement proceeding, in relation to an order made by a court,
means:
(a) a proceeding to enforce the order; or
(b) any other proceeding in respect of a breach of the order.
federal corporations proceeding means a proceeding of any of the
following kinds that, immediately before the commencement, was
before a court:
(a) a proceeding in respect of a matter arising under the
Administrative Decisions (Judicial Review) Act 1977
involving or related to a decision made under a provision of
the old corporations legislation of a State or Territory in this
jurisdiction;
(b) a proceeding for a writ of mandamus or prohibition, or an
injunction, against an officer or officers of the
Commonwealth (within the meaning of section 75 of the
Constitution) in relation to a matter to which a provision of
the old corporations legislation of a State or Territory in this
jurisdiction applied;
(ba) a proceeding that relates to a matter to which a provision of
the Corporations Act 1989 applied (other than a proceeding
that relates to a matter to which a provision of the
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Corporations Law of the Australian Capital Territory
applied);
(bb) a proceeding in relation to a matter to which a provision of
the old corporations legislation of a State or Territory in this
jurisdiction applied:
(i) in which the Commonwealth was seeking an injunction
or a declaration; or
(ii) to which the Commonwealth, or a person suing or being
sued on behalf of the Commonwealth, was a party;
(bc) any other proceeding in relation to a matter to which a
provision of the old corporations legislation of a State in this
jurisdiction applied that was in the exercise of federal
jurisdiction;
(bd) any other proceeding in relation to a matter to which a
provision of the old corporations legislation of a Territory in
this jurisdiction applied that would be covered by
paragraph (bc) if the Territory had been a State;
(c) a proceeding in the court’s accrued federal jurisdiction in
relation to a matter to which a provision of the old
corporations legislation of a State or Territory in this
jurisdiction applied.
interlocutory application means an application that:
(a) is made during the course of a proceeding; and
(b) is for an order that is incidental to the principal object of that
proceeding, including, for example:
(i) an order about the conduct of that proceeding; or
(ii) an order assisting a party to that proceeding to present
their case in that proceeding; or
(iii) an order protecting or otherwise dealing with property
that is the subject matter of that proceeding;
but not including an order making a final determination of
existing rights or liabilities.
interlocutory order means:
(a) an order made in relation to an interlocutory application; or
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(b) an order or direction about the conduct of a proceeding.
interlocutory proceeding means a proceeding:
(a) dealing only with; or
(b) to the extent it deals with;
an interlocutory application.
primary proceeding means a proceeding other than an
interlocutory proceeding.
proceeding means a proceeding, whether criminal or civil, before a
court.
(2) For the purposes of this Part, if an interlocutory proceeding relates
to a proceeding that is itself an interlocutory proceeding, the
first-mentioned proceeding is taken to relate also to the primary
proceeding to which the second-mentioned proceeding relates.
1383 Treatment of court proceedings under or related to the old
corporations legislation—proceedings other than federal
corporations proceedings
(1) This section applies to a proceeding, other than a federal
corporations proceeding, in relation to which the following
paragraphs are satisfied:
(a) the proceeding was started in a court before the
commencement; and
(b) the proceeding was:
(i) under a provision of the old corporations legislation of a
State or Territory in this jurisdiction; or
(ii) brought as, or connected with, a prosecution for an
offence against a provision of the old corporations
legislation of a State or Territory in this jurisdiction; and
(c) the proceeding was not an enforcement proceeding, or an
appeal or review proceeding, in relation to an order of a
court; and
(d) the proceeding had not been concluded or terminated before
the commencement; and
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(e) either:
(i) if the proceeding is a primary proceeding—no final
determination of any of the existing rights or liabilities
at issue in the proceeding had been made before the
commencement; or
(ii) if the proceeding is an interlocutory proceeding—this
section applies to the primary proceeding to which the
interlocutory proceeding relates.
(2) In this section:
(a) the proceeding to which this section applies is called the old
proceeding; and
(b) the provision of the old corporations legislation referred to in
whichever of subparagraphs (1)(b)(i) and (ii) applies is called
the relevant old provision.
(3) A proceeding (the new proceeding) equivalent to the old
proceeding is, on the commencement, taken to have been brought
in the same court, exercising federal jurisdiction:
(a) if subparagraph (1)(b)(i) applies—under the provision of the
new corporations legislation that corresponds to the relevant
old provision; or
(b) if subparagraph (1)(b)(ii) applies—as, or connected with, a
prosecution for an offence against the provision of the new
corporations legislation that corresponds to the relevant old
provision.
To the extent that the old proceeding, before the commencement,
related to pre-commencement rights or liabilities, the new
proceeding relates to the substituted rights and liabilities in relation
to those pre-commencement rights or liabilities
Note 1: See sections 1400 and 1401 for the creation of substituted rights and
liabilities.
Note 2: In all cases, there will be a provision of the new corporations
legislation that corresponds to the relevant old provision, either
because:
(a) the new corporations legislation actually contains a provision that corresponds to the relevant old provision; or
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(b) the new corporations legislation, because of section 1401 or 1408, is taken to include the relevant old provision (whether with or without modifications), in which case the provision so taken to be included will be the corresponding provision.
(4) The following provisions apply in relation to the new proceeding:
(a) the parties to the new proceeding are the same as the parties
to the old proceeding;
(b) subject to subsections (5) and (6), and to any order to the
contrary made by the court, the court must deal with the new
proceeding as if the steps that had been taken for the
purposes of the old proceeding before the commencement
had been taken for the purposes of the new proceeding.
(5) If:
(a) an interlocutory order was made before the commencement
for the purpose of, or in relation to, the old proceeding; and
(b) that interlocutory order was in force immediately before the
commencement;
the rights and liabilities of all persons (including rights and
liabilities arising wholly or partly because of conduct occurring
before the commencement) are declared to be, for all purposes, the
same as if the interlocutory order had instead been made by the
same court, in the exercise of federal jurisdiction, for the purpose
of, or in relation to, the new proceeding.
(6) The court may make orders doing all or any of the following:
(a) cancelling or varying rights or liabilities that a person has
because of subsection (5);
(b) substituting other rights or liabilities for rights or liabilities a
person has because of subsection (5);
(c) adding rights or liabilities to the rights or liabilities a person
has because of subsection (5);
(d) enforcing, or otherwise dealing with conduct contrary to, a
right or liability a person has because of subsection (5) in the
same way as it could enforce, or deal with, the right, liability
or conduct if the right or liability had arisen under or because
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of an order made by the court in the exercise of federal
jurisdiction under the new corporations legislation.
1384 Treatment of court proceedings under or related to the old
corporations legislation—federal corporations
proceedings
(1) This section applies to a proceeding in relation to which the
following paragraphs are satisfied:
(a) the proceeding was started in a court before the
commencement; and
(b) the proceeding was a federal corporations proceeding that
related to a matter to which a provision of the old
corporations legislation of a State or Territory in this
jurisdiction applied; and
(c) the proceeding had not been concluded or terminated before
the commencement.
(2) In this section:
(a) the proceeding to which this section applies is called the
continued proceeding; and
(b) the provision of the old corporations legislation referred to in
paragraph (1)(b) is called the relevant old provision.
(3) Subject to subsection (4):
(a) the continued proceeding continues after the commencement
in the same court as if it were, and always had been, a
proceeding in relation to a matter to which the provision of
the new corporations legislation that corresponds to the
relevant old provision applies; and
(b) to the extent that the proceeding, before the commencement,
related to pre-commencement rights or liabilities, the
proceeding, as continued, relates, and as so continuing is
taken always to have related, to the substituted rights and
liabilities in relation to those pre-commencement rights or
liabilities
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Note 1: See sections 1400 and 1401 for the creation of substituted rights and
liabilities.
Note 2: In all cases, there will be a provision of the new corporations
legislation that corresponds to the relevant old provision, either
because:
(a) the new corporations legislation actually contains a provision that corresponds to the relevant old provision; or
(b) the new corporations legislation, because of section 1401 or 1408, is taken to include the relevant old provision (whether with or without modifications), in which case the provision so taken to be included will be the corresponding provision.
(4) Subject to any order to the contrary made by the court, the court
must deal with the continued proceeding as if:
(a) the steps that had been taken for the purposes of the
proceeding before the commencement had been taken for the
purpose of the proceeding as continued by this section; and
(b) any orders made in relation to the proceeding before the
commencement had been made in relation to the proceeding
as continued by this section.
1384A Appeals etc. in relation to some former federal corporations
proceedings
(1) This section applies to a proceeding in relation to which all of the
following paragraphs are satisfied:
(a) the proceeding was started in a court before the
commencement;
(b) the proceeding was a federal corporations proceeding that
related to a matter to which a provision of the old
corporations legislation of a State or Territory in this
jurisdiction applied; and
(c) the proceeding had been concluded or terminated before the
commencement.
(2) A decision or order made in the proceeding may be appealed
against, or otherwise reviewed, as if it had been made in a
proceeding that related to a matter to which a provision of this Act
applied.
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(3) An order made in the proceeding may be enforced as if it had been
made in a proceeding that related to a matter to which a provision
of this Act applied.
1384B Effect of decisions and orders made in federal corporations
proceedings before commencement
(1) For the avoidance of doubt, if:
(a) a proceeding was started in a court before the
commencement; and
(b) the proceeding was a federal corporations proceeding that
related to a matter to which a provision of the old
corporations legislation of a State or Territory in this
jurisdiction applied; and
(c) a decision was made or an order given in the proceeding
before the commencement;
the decision or order continues to have effect after the
commencement despite the provision of the old corporations
legislation ceasing to have effect.
(2) This section does not limit the operation of section 1384 in relation
to the decision or order.
1385 References to proceedings and orders in the new corporations
legislation
(1) Subject to subsection (5), a reference in the new corporations
legislation to the taking of a proceeding, or a step in a proceeding,
in a court under or in relation to a part or provision of the new
corporations legislation includes a reference to the taking of a
proceeding, or the equivalent step in a proceeding:
(a) before the commencement under or in relation to the
corresponding part or provision of the old corporations
legislation of a State or Territory; or
(b) after the commencement under or in relation to the
corresponding part or provision of the old corporations
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legislation of a State or Territory in this jurisdiction, as that
legislation continues to have effect after the commencement.
(2) Subject to subsections (3), (4) and (5), a reference in the new
corporations legislation to an order made by a court under or in
relation to a part or provision of the new corporations legislation
includes a reference to an order made:
(a) before the commencement under or in relation to the
corresponding part or provision of the old corporations
legislation of a State or Territory; or
(b) after the commencement under or in relation to the
corresponding part or provision of the old corporations
legislation of a State or Territory in this jurisdiction, as that
legislation continues to have effect after the commencement.
(3) Nothing in subsection (2) is taken to produce a result that would:
(a) make a person liable, under the new corporations legislation,
to any penalty (whether civil or criminal) provided for in an
order referred to in paragraph (2)(a) or (b); or
(b) enable an enforcement proceeding, or an appeal or review
proceeding, in relation to such an order to be taken in a court
under the new corporations legislation; or
(c) enable proceedings by way of appeal, or other review, of
such an order to be taken in a court under the new
corporations legislation.
(4) If, after the commencement, an order referred to in
paragraph (2)(a) or (b) is varied or set aside on appeal or review,
subsection (2) applies, or is taken to have applied, from the time
from which the variation or setting aside takes or took effect, as if:
(a) if the order is varied—the order had been made as so varied;
or
(b) if the order is set aside—the order had not been made.
(5) The regulations may provide that subsection (1) or (2) does not
apply in relation to a particular reference or class of references in
the new corporations legislation.
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Division 5—Other specific transitional provisions
1386 Division has effect subject to Division 7 regulations
This Division has effect subject to regulations made for the
purposes of Division 7.
1387 Certain applications lapse on the commencement
(1) An application:
(a) under section 117 for the registration of a company; or
(b) under section 601BC for the registration of a body as a
company;
that was made by a person before the commencement, but that had
not been dealt with by the commencement, lapses on the
commencement.
(2) Any fee that was paid in respect of the application must be returned
to the person, unless it is, with the person’s permission, credited
against the fee payable in respect of another application the person
makes under this Act after the commencement.
1388 Carrying over the Partnerships and Associations Application
Order
The application order in force immediately before the
commencement for paragraph 115(b) of the old Corporations Law
of each State and Territory in this jurisdiction continues to have
effect (and may be dealt with) after the commencement as if it
were a regulation in force under section 1364 of this Act made for
the purposes of subsection 115(2) of this Act.
1389 Evidentiary certificates
(1) A certificate by ASIC (whether issued before or after the
commencement) stating that a company was registered under the
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Section 1390
24 Corporations Act 2001
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old Corporations Law of a State or Territory in this jurisdiction is
conclusive evidence that:
(a) all requirements of that Law for the company’s registration
were complied with; and
(b) the company was duly registered as a company under that
Law on the date (if any) specified in the certificate.
(2) A certificate issued before the commencement under
pre-Corporations Law legislation (see subsection (3)) by the
authority responsible for administering that legislation stating that
a body was registered as a company under that legislation or other
pre-Corporations Law legislation is conclusive evidence that:
(a) all requirements of that legislation for the company’s
registration were complied with; and
(b) the company was duly registered as a company under that
legislation on the date (if any) specified in the certificate.
(3) In subsection (2):
pre-Corporations Law legislation means legislation that was, for
the purposes of the old Corporations Law of a State or Territory in
this jurisdiction, a corresponding previous law in relation to that
old Corporations Law.
1390 Preservation of nomination of body corporate as SEGC
The nomination in force immediately before the commencement
under section 67 of the old Corporations Act continues to have
effect (and may be dealt with) after the commencement as if it
were a nomination under section 890A of this Act.
1391 Preservation of identification of satisfactory records
A notice in force immediately before the commencement under
section 70 of the old Corporations Act continues to have effect
(and may be dealt with) after the commencement as if it were a
notice under subsection 147(5) of this Act.
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1392 Retention of information obtained under old corporations
legislation of non-referring State
If a particular State is not a referring State on the commencement,
that does not mean that ASIC must then remove from, or cease to
retain in, a database or register it maintains information that ASIC
obtained before the commencement under or because of (whether
in whole or in part) the operation of the old corporations legislation
of that State.
1393 Transitional provisions relating to section 1351 fees
(1) If:
(a) either:
(i) before the commencement, a person paid an amount as
required by section 1351 of the old Corporations Law of
a State or Territory in respect of a particular matter; or
(ii) after the commencement, a person pays an amount as
required by subsection 9(2) of the Corporations (Fees)
Act 2001 in respect of a particular matter; and
(b) a fee is also payable under section 1351 of this Act in respect
of the same matter;
the payment they made or make as mentioned in
subparagraph (a)(i) or (ii) is taken to satisfy their liability to pay
the fee referred to in paragraph (b).
(2) If:
(a) before the commencement, a person paid a deposit as
required by section 1357 of the old Corporations Law of a
State or Territory in respect of a particular matter; and
(b) a fee is payable under section 1351 of this Act in respect of
the same matter;
the deposit must be applied against the liability to pay the fee.
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Section 1394
26 Corporations Act 2001
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1394 Transitional provisions relating to securities exchange fidelity
fund levies
(1) If:
(a) before the commencement, a person paid an amount as
required by subsection 902(1) of the old Corporations Law of
a State or Territory in order to be admitted to:
(i) membership of a securities exchange; or
(ii) membership of a partnership in a member firm
recognised by a securities exchange; and
(b) that person had not been so admitted by the commencement
of this Act;
the payment they made before the commencement is taken to
satisfy their liability to pay the levy referred to in
subsection 902(1) of this Act in respect of their admission after the
commencement to that securities exchange or firm.
(2) If:
(a) either:
(i) before the commencement, a person paid an amount as
required by subsection 902(2) of the old Corporations
Law of a State or Territory to a securities exchange in
respect of a year some or all of which occurs after the
commencement of this Act; or
(ii) after the commencement, a person pays an amount as
required by subsection 8(3) of the Corporations
(Securities Exchanges Levies) Act 2001 in respect of a
year some or all of which occurs after the
commencement of this Act; and
(b) a levy is also payable under subsection 902(2) of this Act in
respect of the securities exchange and the year;
the payment they made or make as mentioned in
subparagraph (a)(i) or (ii) is taken to satisfy their liability to pay
the levy referred to in paragraph (b).
(3) If, before the commencement, a person paid an amount to a
securities exchange as required by subsection 902(2) of the old
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Corporations Law of a State or Territory, that payment is to be
counted, for the purposes of:
(a) the reference in paragraph (a) of the definition of relevant
person in subsection 903(1) of this Act; and
(b) subsection 903(5) of this Act;
as if it were a payment of a kind referred to in that paragraph or
that subsection, as the case requires.
1395 Transitional provisions relating to National Guarantee Fund
levies
(1) If:
(a) either:
(i) before the commencement, a person paid an amount as
required by section 938 of the old Corporations Law of
a State or Territory in respect of a particular transaction;
or
(ii) after the commencement, a person pays an amount of
levy imposed by subsection 6(1) of the Corporations
(National Guarantee Fund Levies) Act 2001 in respect
of a particular transaction; and
(b) a levy is also payable under section 938 of this Act in respect
of the same transaction;
the payment they made or make as mentioned in
subparagraph (a)(i) or (ii) is taken to satisfy their liability to pay
the levy referred to in paragraph (b).
(2) Subject to subsection (3), a determination of a matter (other than a
rate or rates, or an amount) in force immediately before the
commencement for the purposes of section 938, 940 or 941 of the
old Corporations Law of a State or Territory in this jurisdiction
continues to have effect (and may be dealt with) after the
commencement of this Act as if it were:
(a) in the case of a determination for the purposes of
section 938—a determination for the purposes of section 938
of this Act; or
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(b) in the case of a determination for the purposes of
section 940—a determination for the purposes of section 940
of this Act; or
(c) in the case of a determination for the purposes of
section 941—a determination for the purposes of section 941
of this Act.
(3) Nothing in subsection (2) is taken to produce a result that a levy is
payable by a person in respect of the same matter in respect of
which levy is imposed on the person by subsection 6(1), (2) or (3)
of the Corporations (National Guarantee Fund Levies) Act 2001.
1396 Transitional provisions relating to futures organisation fidelity
fund levies
(1) If:
(a) before the commencement, a person paid an amount as
required by subsection 1234(1) of the old Corporations Law
of a State or Territory in order to be admitted to membership
of a futures organisation; and
(b) that person had not been so admitted by the commencement
of this Act;
the payment they made before the commencement is taken to
satisfy their liability to pay the levy referred to in
subsection 1234(1) of this Act in respect of their admission after
the commencement to that futures organisation.
(2) If:
(a) either:
(i) before the commencement, a contributing member of a
futures organisation paid an amount as required by
subsection 1234(2) of the old Corporations Law of a
State or Territory to a futures organisation in respect of
a year some or all of which occurs after the
commencement of this Act; or
(ii) after the commencement, a person pays an amount as
required by subsection 6(1) of the Corporations
(Futures Organisations Levies) Act 2001 in respect of a
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year some or all of which occurs after the
commencement of this Act; and
(b) a levy is also payable under subsection 1234(2) of this Act in
respect of the futures organisation and the year;
the payment they made or make as mentioned in
subparagraph (a)(i) or (ii) is taken to satisfy their liability to pay
the levy referred to in paragraph (b).
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Part 10.1 Transition from the old corporations legislation
Division 6 General transitional provisions relating to other things done etc. under the
old corporations legislation
Section 1397
30 Corporations Act 2001
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Division 6—General transitional provisions relating to
other things done etc. under the old corporations
legislation
1397 Limitations on scope of this Division
(1) This Division has effect subject to:
(a) the provisions of Divisions 2, 3, 4 and 5 (which deal with
matters in more specific terms); and
(b) regulations made for the purposes of Division 7.
(2) Nothing in this Division applies to:
(a) an order made by a court before the commencement; or
(b) a right or liability under an order made by a court before the
commencement; or
(c) a right to:
(i) appeal to a court against an order made by a court
before the commencement;
(ii) apply to a court for review of such an order; or
(iii) bring an appeal or review proceeding, or an
enforcement proceeding, within the meaning of
section 1382, in respect of such an order; or
(d) subject to subsection (3)—a proceeding taken (including an
appeal, review or enforcement proceeding) in a court before
the commencement, or a step in such a proceeding.
Note: Division 4 deals with court orders and proceedings made or begun
before the commencement, and with related matters.
(3) Despite paragraph (2)(d), sections 1400 and 1401 apply to any
right or liability to which a proceeding to which section 1383 or
1384 applies relates.
(4) Nothing in this Division applies to a liability under section 902,
904, 938, 940, 941, 1234, 1235 or 1351 of the old Corporations
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Law of a State or Territory in this jurisdiction to pay a
contribution, levy or fee.
Note: These liabilities are preserved as taxes by provisions of the following
Acts:
(a) the Corporations (Securities Exchanges Levies) Act 2001;
(b) the Corporations (National Guarantee Fund Levies) Act 2001;
(c) the Corporations (Futures Organisations Levies) Act 2001;
(d) the Corporations (Fees) Act 2001.
(5) Except as mentioned in subsections (1) to (4), nothing in
Division 2, 3, 4 or 5, or in regulations made for the purposes of
Division 7, is intended to limit the generality of the provisions in
this Division.
1398 Provisions of this Division may have an overlapping effect
The provisions of this Division deal at a broad level with concepts
and matters in a way that is intended to achieve the object of this
Part as set out in section 1370. Some of the provisions of this
Division will (depending on the situation) have an effect that
overlaps or interacts to some extent with the effect of other
provisions of this Division. This is intended, and the provisions of
this Division should be not be regarded as dealing with mutually
exclusive situations.
1399 Things done by etc. carried over provisions continue to have
effect
(1) Subject to this section, a thing that:
(a) was done before the commencement by, under, or for the
purposes of, a carried over provision of the old corporations
legislation of a State or Territory in this jurisdiction; and
(b) had an ongoing significance (see subsections (4) and (5))
immediately before the commencement for the purposes of
that legislation;
has effect (and may be dealt with) after the commencement, for the
purposes of the new corporations legislation, as if it were done by,
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Section 1399
32 Corporations Act 2001
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under, or for the purposes of, the corresponding provision of the
new corporations legislation.
Note: This section covers all kinds of things done, including things of a
coercive nature or done for coercive purposes.
(2) Examples of things done include:
(a) the making of an instrument or order (but not including the
making of an order by a court); and
(b) the making of an application or claim (but not including the
making of an application or claim to a court); and
(c) the granting of an application or claim (but not including the
granting of an application or claim by a court); and
(d) the making of an appointment or delegation; and
(e) the commencement of a procedure or the taking of a step in a
procedure (but not including the commencement of a
proceeding in a court); and
(f) the establishment of a register or fund; and
(g) requiring a person to do, or not to do, something (but not
including a requirement contained in an order made by a
court); and
(h) the giving of a notice or document.
(3) The examples in subsection (2) are not intended to limit the
generality of the language of subsection (1).
(4) Subject to subsection (5), for the purposes of this section, a thing
done by, under, or for the purposes of, a carried over provision of
the old corporations legislation of a State or Territory had an
ongoing significance immediately before the commencement for
the purposes of that legislation if:
(a) if the thing done was the making of an instrument or order—
the instrument or order was still in force immediately before
the commencement; or
(b) if the thing done was the making of an application or claim—
the application or claim had not been decided, and had not
otherwise ceased to have effect, before the commencement;
or
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(c) if the thing done was the granting of an application or
claim—the thing granted had not been revoked, and had not
otherwise ceased to have effect, before the commencement;
or
(d) if the thing done was the making of an appointment or
delegation—the appointment or delegation had not been
revoked, and had not otherwise ceased to have effect, before
the commencement; or
(e) if the thing done was the commencement of a procedure or
the taking of a step in a procedure—the procedure was still in
progress immediately before the commencement or was
otherwise still having an effect; or
(f) if the thing done was the establishment of a register or
fund—the register or fund was still in existence immediately
before the commencement; or
(g) if the thing done was requiring a person to do, or not to do
something—the requirement was still in force immediately
before the commencement; or
(h) if the thing done was the giving of a notice or document, or
the doing of some other thing—the notice or document (or
the giving of the notice or document), or the thing (or the
doing of the thing), had an ongoing effect or significance
immediately before the commencement for the purposes of
the old corporations legislation of the State or Territory.
(5) The regulations may provide that a specified thing done under, or
for the purposes of, a carried over provision of the old corporations
legislation of a State or Territory did, or did not, have an ongoing
significance immediately before the commencement for the
purposes of that legislation.
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Division 6 General transitional provisions relating to other things done etc. under the
old corporations legislation
Section 1400
34 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1400 Creation of equivalent rights and liabilities to those that existed
before the commencement under carried over provisions
of the old corporations legislation
(1) Subject to subsection (4), this section applies in relation to a right
or liability (the pre-commencement right or liability), whether
civil or criminal, that:
(a) was:
(i) acquired, accrued or incurred under a carried over
provision of the old corporations legislation of a State or
Territory in this jurisdiction; and
(ii) in existence immediately before the commencement; or
(b) would have been:
(i) acquired, accrued or incurred under such a provision;
and
(ii) in existence immediately before the commencement;
if every agreement that was valid only because of section 249
of the ASIC Act had been a valid agreement without the
application of that section.
However, this section does not apply to a right or liability under an
order made by a court before the commencement.
(2) On the commencement, the person acquires, accrues or incurs a
right or liability (the substituted right or liability), equivalent to
the pre-commencement right or liability, under the corresponding
provision of the new corporations legislation (as if that provision
applied to the conduct or circumstances that gave rise to the
pre-commencement right or liability).
Note: If a time limit applied in relation to the pre-commencement right or
liability under the old corporations legislation, that same time limit
(calculated from the same starting point) will apply under the new
corporations legislation to the substituted right or liability—see
subsection 1402(3).
(3) A procedure, proceeding or remedy in respect of the substituted
right or liability may be instituted after the commencement under
the new corporations legislation (as if that provision applied to the
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conduct or circumstances that gave rise to the pre-commencement
right or liability).
Note: For pre-commencement proceedings in respect of substituted rights
and liabilities, see sections 1383 and 1384.
(4) If, immediately before the commencement, a person had an
accrued right to make a claim under a provision of Part 7.10 of the
old Corporations Law of a State that is not a referring State (and so
is not in this jurisdiction), this section applies in relation to that
right in the same way as it would have applied if the State had been
a referring State.
Note: Except to the extent provided in this subsection, this Part does not
create rights and liabilities that are equivalent to those that existed
under the old corporations legislation of a non-referring State.
(5) This section does not apply to a pre-commencement right or
liability that:
(a) existed under a law of the Commonwealth or of a State or
Territory; and
(b) would not have existed if any agreement that is valid only
because of section 249 of the ASIC Act had been a valid
agreement without the application of that section.
(6) Paragraph (1)(b) and subsection (5) have effect in relation to:
(a) proceedings (whether original or appellate) that begin on or
after the day the Treasury Laws Amendment (2017 Measures
No. 3) Act 2017 receives the Royal Assent; and
(b) proceedings that began before that day, if the proceedings
(including any appeals) had not been finally determined as at
that day.
(7) Nothing in paragraph (1)(b) or subsection (5) or (6) limits the
operation of section 249 of the ASIC Act.
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Division 6 General transitional provisions relating to other things done etc. under the
old corporations legislation
Section 1401
36 Corporations Act 2001
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1401 Creation of equivalent rights and liabilities to those that existed
before the commencement under repealed provisions of
the old corporations legislation
(1) This section applies in relation to a right or liability (the
pre-commencement right or liability), whether civil or criminal,
that:
(a) was:
(i) acquired, accrued or incurred under a provision of the
old corporations legislation of a State or Territory in this
jurisdiction that was no longer in force immediately
before the commencement; and
(ii) in existence immediately before the commencement; or
(b) would have been:
(i) acquired, accrued or incurred under such a provision;
and
(ii) in existence immediately before the commencement;
if every agreement that was valid only because of section 249
of the ASIC Act had been a valid agreement without the
application of that section.
However, this section does not apply to a right or liability under an
order made by a court before the commencement.
(2) For the purposes of subsections (3) and (4), the new corporations
legislation is taken to include:
(a) the provision of the old corporations legislation (with such
modifications (if any) as are necessary) under which the
pre-commencement right or liability was acquired, accrued or
incurred; and
(b) the other provisions of the old corporations legislation (with
such modifications (if any) as are necessary) that applied in
relation to the pre-commencement right or liability.
(3) On the commencement, the person acquires, accrues or incurs a
right or liability (the substituted right or liability), equivalent to
the pre-commencement right or liability, under the provision taken
to be included in the new corporations legislation by
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paragraph (2)(a) (as if that provision applied to the conduct or
circumstances that gave rise to the pre-commencement right or
liability).
Note: If a time limit applied in relation to the pre-commencement right or
liability under the old corporations legislation, that same time limit
(calculated from the same starting point) will apply under the new
corporations legislation to the substituted right or liability—see
subsection 1402(3).
(4) A procedure, proceeding or remedy in respect of the substituted
right or liability may be instituted after the commencement under
the provisions taken to be included in the new corporations
legislation by subsection (2) (as if those provisions applied to the
conduct or circumstances that gave rise to the pre-commencement
right or liability).
Note: For pre-commencement proceedings in respect of substituted rights
and liabilities, see sections 1383 and 1384.
(5) This section does not apply to a pre-commencement right or
liability that:
(a) existed under a law of the Commonwealth or of a State or
Territory; and
(b) would not have existed if any agreement that is valid only
because of section 249 of the ASIC Act had been a valid
agreement without the application of that section.
(6) Paragraph (1)(b) and subsection (5) have effect in relation to:
(a) proceedings (whether original or appellate) that begin on or
after the day the Treasury Laws Amendment (2017 Measures
No. 3) Act 2017 receives the Royal Assent; and
(b) proceedings that began before that day, if the proceedings
(including any appeals) had not been finally determined as at
that day.
(7) Nothing in paragraph (1)(b) or subsection (5) or (6) limits the
operation of section 249 of the ASIC Act.
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Part 10.1 Transition from the old corporations legislation
Division 6 General transitional provisions relating to other things done etc. under the
old corporations legislation
Section 1402
38 Corporations Act 2001
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1402 Old corporations legislation time limits etc.
(1) An old corporations legislation time limit (see subsection (4)):
(a) the starting point of which:
(i) was known or had been determined before the
commencement (whether that starting point occurred or
would occur before, on or after the commencement); or
(ii) would have become known, or have been determined,
after the commencement if the old corporations
legislation of the relevant State or Territory had
continued to apply (whether that starting point would
have occurred before, on or after the commencement);
and
(b) that had not ended at or before the commencement;
continues to run, or starts or started to run, as if that same time
limit (starting from the same starting point) were applicable under
the new corporations legislation.
(2) If:
(a) under the old corporations legislation, a process (for
example, the winding up of a company), a status of a person
or body (for example, a body’s registration as a company or a
person’s status as a registered liquidator), or an instrument,
commenced from a particular time before the
commencement; and
(b) that process, status or instrument is continued after the
commencement for the purposes of the new corporations
legislation by a provision of this Part;
that process, status or instrument as so continued is still taken to
have commenced from the time referred to in paragraph (a).
(3) If an old corporations legislation time limit related to a
pre-commencement right or liability, the same time limit applies in
relation to the substituted right or liability.
(4) In this section:
old corporations legislation time limit includes:
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(a) a period for the doing of a thing specified or determined
under a provision of the old corporations legislation of a
State or Territory; or
(b) a period specified or determined under a provision of the old
corporations legislation of a State or Territory as the duration
of a particular instrument or status.
1403 Preservation of significance etc. of events or circumstances
(1) An event, circumstance or other thing:
(a) that occurred or arose before the commencement under or as
mentioned in a provision of the old corporations legislation
of a State or Territory in this jurisdiction; and
(b) that had a particular significance, status or effect for the
purposes of a carried over provision of that legislation
(including because of an interpretive provision);
has that same significance, status and effect after the
commencement for the purposes of the provision of the new
corporations legislation that corresponds to that carried over
provision.
Note: So, for example:
(a) if a company took action before the commencement that had the result for the purposes of section 200B of the old Corporations Law of making a superannuation fund a prescribed superannuation fund in relation to the company, that action has that same effect for the purposes of section 200B of this Act; and
(b) a delay that could have been taken into account for the purposes of subsection 874(1) of the old Corporations Law also counts for the purposes of subsection 874(1) of this Act.
(2) Without limiting subsection (1), an event, circumstance or other
thing had a particular significance for the purposes of a carried
over provision of the old corporations legislation of a State or
Territory in this jurisdiction if:
(a) the carried over provision created an obligation in respect of
the event, circumstance or thing (whenever it arose); or
(b) the carried over provision provided for the event,
circumstance or thing to be dealt with in a particular way; or
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(c) the carried over provision stated that the event, circumstance
or thing (whenever it arose) was to be disregarded for the
purposes of that provision or was not covered by that
provision.
1404 References in the new corporations legislation generally
include references to events, circumstances or things that
happened or arose before the commencement
(1) Subject to this section, a reference in the new corporations
legislation to an event, circumstance or thing of a particular kind
that happens or arises, or that has happened or arisen, is taken to
include a reference to an event, circumstance or thing of that kind
that happened or arose at a time before the commencement, unless
a contrary intention is expressed. The fact that the provision uses
only the present tense in referring to an event, circumstance or
thing is not, of itself, to be regarded as an expression of a contrary
intention.
Note: So, for example, if a provision of the new corporations legislation
refers to a person who consents to a course of action, that reference (in
the absence of an express provision to the contrary) will not be limited
to consents given after the commencement and will cover a consent
given before the commencement.
(2) Nothing in subsection (1) is taken to produce a result that a right or
liability exists under a provision of the new corporations legislation
that relates solely to events, circumstances or things that occurred
before the commencement.
Note: Instead, an equivalent right or liability will be created by section 1400
or 1401.
(3) The regulations may provide that subsection (1) does not apply in
relation to a particular reference or class of references in the new
corporations legislation.
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1405 References in the new corporations legislation to that
legislation or the new ASIC legislation generally include
references to corresponding provisions of the old
corporations legislation or old ASIC legislation
(1) Subject to subsection (4), a reference in the new corporations
legislation to:
(a) an Act, or regulations or another instrument that is part of the
new corporations legislation; or
(b) a provision or group of provisions of such an Act, regulations
or other instrument;
is taken, in relation to events, circumstances or things that
happened or arose at a time before the commencement when the
old corporations legislation was in force, to include (in the absence
of an express provision to the contrary) a reference to the
corresponding part, provision or provisions of the old corporations
legislation of the States and Territories in this jurisdiction.
(2) Subject to subsection (4), a reference in the new corporations
legislation to:
(a) an Act, or regulations or some other instrument that is part of
the new ASIC legislation; or
(b) a provision or group of provisions of such an Act, regulations
or other instrument;
is taken, in relation to events, circumstances or things that
happened or arose at a time before the commencement when the
old corporations legislation was in force, to include (in the absence
of an express provision to the contrary) a reference to the
corresponding part, provision or provisions of the old ASIC
legislation of the Commonwealth, of the States in this jurisdiction
and of the Northern Territory.
(3) In subsection (2):
(a) new ASIC legislation and old ASIC legislation have the
same meanings as they have in Part 16 of the Australian
Securities and Investments Commission Act 2001; and
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(b) the question whether a provision or part of the old ASIC
legislation corresponds to a provision of part of the new
ASIC legislation is to be determined in the same way as it is
determined for the purposes of Part 16 of the Australian
Securities and Investments Commission Act 2001.
(4) The regulations may provide that subsection (1) or (2) does not
apply in relation to a particular reference or class of references in
the new corporations legislation.
1406 Carrying over references to corresponding previous laws
(1) If a carried over provision of the old corporations legislation of a
State or Territory in this jurisdiction contained a reference
(whether in its own terms or by operation of another provision) to:
(a) a corresponding previous law (as defined for the purposes of
that provision or provisions including that provision); or
(b) a thing done by, under, or for the purposes of, such a law;
the corresponding provision of the new corporations legislation is
taken to contain an equivalent reference to that previous law, or to
such a thing done by, under, or for the purposes of, that previous
law.
(2) The following references in the old corporations legislation of the
States and Territories in this jurisdiction are covered by
subsection (1) in the same way as they would be if they used the
“corresponding previous law” form of words:
(a) the reference in subsection 1274AA(1) to a “previous Law”;
(b) the reference in subparagraph 1274AA(2)(b)(ii) to a
“previous law of this jurisdiction before the commencement
of this Part that corresponds”;
(c) any other references prescribed by the regulations for the
purposes of this subsection.
1407 References to old corporations legislation in instruments
(1) Subject to subsection (2), a reference in, or taken immediately
before the commencement to be in, an instrument, other than:
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(a) an Act of a State, the Australian Capital Territory, the
Northern Territory or Norfolk Island; or
(b) an instrument made under such an Act;
to:
(c) an Act, or to regulations or some other instrument, that is part
of the old corporations legislation (whether the reference is in
general terms or in relation to a particular State or Territory
in this jurisdiction); or
(d) to a provision or group of provisions of such an Act,
regulations or other instrument;
is taken, after the commencement, to include a reference to the
corresponding part, provision or provisions of the new corporations
legislation (unless there is no such corresponding part, provision or
provisions).
Note: This section will, for example, apply to:
(a) a reference in another Commonwealth Act to the Corporations Law; or
(b) a reference in the Corporations Regulations to the Corporations Law; or
(c) a reference in a company’s constitution to a particular provision of the Corporations Law.
(2) The regulations may do either or both of the following:
(a) provide that subsection (1) does not apply in relation to
prescribed references in prescribed instruments;
(b) provide that subsection (1) has effect in relation to prescribed
references in prescribed instruments as if, in that subsection,
the words “to be” were substituted for the words “to
include”.
1408 Old transitional provisions continue to have their effect
(1) Subject to subsection (3), this Act has the same effect, after the
commencement, as it would have if:
(a) the transitional provisions (see subsections (6) and (7)) of the
old Corporations Laws of the States and Territories in this
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jurisdiction (as in force from time to time before the
commencement) had been part of this Act; and
(b) those transitional provisions produced the same results or
effects (to the greatest extent possible) for the purposes of
this Act as they produced for the purposes of those old
Corporations Laws.
(2) Without limiting subsection (1) (but subject to subsection (3)), if a
transitional provision of the old Corporations Law of a State or
Territory in this jurisdiction could, if it had continued in force after
the commencement, have operated to give rise to rights and
liabilities (including civil or criminal liabilities) in relation to acts
or omissions occurring after the commencement, this Act is taken
to include that transitional provision (with such modifications (if
any) as are necessary.
Note: In relation to acts or omissions that occurred before the
commencement, equivalent rights and liabilities are created by
sections 1400 and 1401.
(3) The regulations may determine how a matter dealt with in a
transitional provision of the old Corporations Law of a State or
Territory in this jurisdiction is to be dealt with under or in relation
to the new corporations legislation (including by creating
offences). The regulations have effect despite subsections (1) and
(2), but subject to subsection (5).
Note: In creating offences, the regulations are subject to the limitation
imposed by section 1375.
(4) For the purpose of determining whether the new corporations
legislation includes a provision that corresponds to a provision of
the old corporations legislation of a State or Territory, and for the
purpose of any reference in this part to a corresponding provision
of the new corporations legislation, this Act is taken to include the
transitional provisions of the old corporations legislation of the
States and Territories, as they have effect because of
subsections (1) and (2).
(5) Nothing in subsection (1) or (2), or in regulations made for the
purposes of subsection (3), is taken to produce a result that a right
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or liability exists under a transitional provision as it has effect
because of subsection (1) or (2), or exists under regulations made
for the purposes of subsection (3), that relates solely to events,
circumstances or things that occurred before the commencement.
Note: Instead, an equivalent right or liability will be created by section 1400
or 1401.
(6) Subject to subsection (7), for the purposes of this section, a
transitional provision is any of the provisions of the old
Corporations Laws of the States and Territories in this jurisdiction
listed in the following table.
Transitional provisions of old Corporations Law
Item Provisions
1 subsection 87(1A)
2 subsection 88(1A)
3 sections 109E to 109G and section 109T
4 section 268A
5 section 275
6 section 275A
7 Subsections 319(4), (5) and (6)
8 section 601
9 subsection 774(7)
10 subsection 895(3)
11 subsection 977(4)
12 subsection 990(2)
13 section 993
14 subsection 1228(3)
15 subsections 1274(17) and (18)
16 subsections 1288(1), (2) and (6)
17 paragraph 1311(1A)(f) and subsection 1311(3A)
18 section 1336A
19 Chapter 11, other than section 1416
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Transitional provisions of old Corporations Law
Item Provisions
20 Schedule 4, other than the following provisions:
(a) subclauses 7(3), 8(2) and 9(4);
(b) clauses 11 to 16;
(c) subclause 17(2);
(d) clauses 18 and 19;
(e) clauses 20, 25 and 27;
(f) Parts 5, 6 and 7.
(7) The regulations may provide that certain provisions are to be taken
to be included in, or omitted from, the table in subsection (6). The
table then has effect as if the provisions were so included in it or
omitted from it.
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Division 7—Regulations dealing with transitional matters
1409 Regulations may deal with transitional matters
(1) The regulations may deal with matters of a transitional nature
relating to the transition from the application of provisions of the
old corporations legislation of the States and Territories in this
jurisdiction to the application of provisions of the new corporations
legislation. The regulations have effect despite anything else in this
Part, other than section 1375.
(2) Without limiting subsection (1), the regulations may provide for a
matter to be dealt with, wholly or partly, in any of the following
ways:
(a) by applying (with or without modifications) to the matter:
(i) provisions of the old corporations legislation of the
States and Territories in this jurisdiction, as in force
immediately before the commencement or at some
earlier time; or
(ii) provisions of the new corporations legislation; or
(iii) a combination of provisions referred to in
subparagraphs (i) and (ii);
(b) by otherwise specifying rules for dealing with the matter;
(c) by specifying a particular consequence of the matter, or of an
outcome of the matter, for the purposes of the new
corporations legislation.
(3) The regulations may provide that certain provisions of this Part are
taken to be modified as set out in the regulations. Those provisions
then have effect as if they were so modified.
(4) Despite subsection 12(2) of the Legislative Instruments Act 2003,
regulations for the purposes of this section may be expressed to
take effect from a date before the regulations are registered under
that Act.
(5) In this section:
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matters of a transitional nature also includes matters of an
application or saving nature.
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Part 10.2—Transitional provisions relating to the
Financial Services Reform Act 2001
Division 1—Transitional provisions relating to the
phasing-in of the new financial services regime
Subdivision A—Preliminary
1410 Definitions
(1) In this Division, unless the contrary intention appears:
amended Corporations Act means this Act as in force after the
FSR commencement.
associated provisions, in relation to provisions (the core
provisions) of a particular Act as in force at a particular time,
include (but are not limited to):
(a) any regulations or other instruments that are or were in force
for the purposes of any of the core provisions at that time;
and
(b) any interpretation provisions that apply or applied in relation
to any of the core provisions at that time (whether or not they
also apply or applied for other purposes); and
(c) any provisions relating to liability (civil or criminal) that
apply or applied in relation to any of the core provisions at
that time (whether or not they also apply or applied for other
purposes); and
(d) any provisions that limit or limited, or that otherwise affect
or affected, the operation of any of the core provisions at that
time (whether or not they also limit or limited, or affect or
affected, the operation of other provisions).
class, in relation to financial products, has a meaning affected by
regulations made for the purposes of subsection (2).
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FSR commencement means the commencement of item 1 of
Schedule 1 to the Financial Services Reform Act 2001.
old Corporations Act means this Act as in force immediately
before the FSR commencement.
regulated activities, in relation to a regulated principal, has the
meaning given by section 1430.
regulated principal has the meaning given by section 1430.
relevant old legislation, in relation to a regulated principal, has the
meaning given by section 1430.
transition period:
(a) in relation to a market to which section 1414, 1418, 1420,
1421 or 1422 applies—has the meaning given by
subsection (2) of that section; and
(b) in relation to a market to which section 1417 applies and the
additional products referred to in that section—has the
meaning given by subsection 1417(2); and
(c) in relation to a clearing and settlement facility to which
section 1426 or 1429 applies—has the meaning given by
subsection (2) of that section; and
(d) in relation to a clearing and settlement facility to which
section 1428 applies and the additional products referred to
in that section—has the meaning given by
subsection 1428(2); and
(e) in relation to a regulated principal—has the meaning given
by subsection 1431(1); and
(f) in relation to a financial product to which section 1438
applies—has the meaning given by subsection (3) of that
section.
(1A) Other expressions used in this Part that are defined in Division 2 of
Part 7.1 have the same meanings as they are given by that Division.
This has effect subject to:
(a) any contrary intention in a provision of this Part; or
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(b) regulations made for the purposes of this paragraph.
(2) The regulations may include provisions identifying, or providing
for the identification of, what constitutes a class of financial
products for the purposes of a provision or provisions of this
Division.
(3) If a provision of this Division (the transitional provision) provides
for a provision of this or another Act (the preserved provision), as
in force immediately before the FSR commencement, to continue
to apply to or in relation to a person, thing or matter:
(a) the preserved provision so continues to apply only to the
extent (if any) to which it is expressed in terms that cover the
person, thing or matter; and
(b) the transitional provision is not taken to extend the scope of
the preserved provision (otherwise than by giving it a
continued operation).
Subdivision B—Treatment of existing markets
1411 When is a market being operated immediately before the FSR
commencement?
Subject to section 1412, in this Subdivision, a reference to a market
being operated immediately before the FSR commencement is a
reference to a market that had not permanently ceased to operate
before the FSR commencement, even if trading on the market was
not actually occurring immediately before the FSR commencement
(for example, because of a routine temporary closure of the
market).
1412 Treatment of proposed markets that have not started to
operate by the FSR commencement
(1) This section applies in relation to the following proposed markets,
other than any such market that starts to operate before the FSR
commencement:
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(a) a market proposed to be operated by Bendigo Stock
Exchange Ltd, or by ASX Futures Exchange Pty Limited,
that is identified in writing by the Minister as being a
proposed market to which this section applies;
(b) any other proposed market identified in, or in accordance
with, regulations made for the purposes of this paragraph.
For this purpose, a proposed market is a market that a person has,
before the FSR commencement, indicated an intention that they
propose to operate.
(2) This Subdivision applies in relation to a proposed market to which
this section applies subject to the following paragraphs:
(a) subject to paragraphs (b), (c) and (d), this Subdivision applies
in relation to the proposed market as if the market, as
proposed to be operated, were in fact being operated
immediately before the FSR commencement;
(b) if, taking account of the effect of paragraph (a), section 1413
applies in relation to the proposed market, that section
applies in relation to the proposed market:
(i) as if the Minister’s obligation to grant a licence, and
impose conditions, under subsection 1413(2) in relation
to the market does not arise unless and until the market
operator lodges with ASIC a notice in relation to the
market under subsection (3) of this section, and does not
arise at all if no such notice is given to ASIC by the end
of 6 months after the FSR commencement; and
(ii) as if subsection 1413(3) provided for a licence so
granted under subsection 1413(2) in relation to the
market, and the conditions subject to which it is granted,
to be taken to have had effect from the day (the start
day) specified in the subsection (3) notice as the day on
which the market started to operate; and
(iii) as if subsection 1413(6) were omitted; and
(iv) as if the references in subsection 1413(8) to the FSR
commencement were instead references to the start day;
(c) if:
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(i) taking account of the effect of paragraph (a),
section 1418, 1420, 1421 or 1422 applies to the
proposed market; and
(ii) the market operator does not lodge with ASIC a notice
in relation to the market under subsection (3) of this
section by the end of 6 months after the FSR
commencement;
that section ceases to apply in relation to the proposed market
at the end of that period;
(d) if a provision of this Subdivision provides for a provision of
the old Corporations Act to continue to apply in relation to
the proposed market, then (without limiting the generality of
subsection 1410(3)), while the proposed market remains
non-operational, the provision of the old Corporations Act
only applies in relation to the proposed market to the extent
(if any) to which it would, disregarding the effect of
paragraph (a), apply in relation to the proposed market.
(3) If a proposed market to which this section applies starts to operate
on a day during the period of 6 months starting on the FSR
commencement, the operator must, as soon as practicable, and in
any event within 7 days, lodge with ASIC written notice of the fact
that the market started to operate on that day.
Note: Failure to comply with this subsection is an offence (see
subsection 1311(1)).
(4) ASIC must, within a reasonable time, give the Minister a notice it
receives under subsection (3).
1413 Obligation of Minister to grant licences covering main existing
markets
(1) This section applies to each market being operated immediately
before the FSR commencement in relation to which any of the
following paragraphs applies:
(a) the market was a stock market operated by the Australian
Stock Exchange Limited;
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(b) the market was a stock market operated by a body corporate
covered by an approval in force under subsection 769(2) of
the old Corporations Act;
(c) the market was a futures market operated by a body corporate
covered by an approval in force under subsection 1126(2) of
the old Corporations Act.
(2) Subject to subsections (3) and (4), the Minister must, in relation to
each market to which this section applies, grant the operator of the
market a licence, and impose conditions on that licence, in
accordance with the following requirements:
(a) the licence must be described as an Australian market
licence;
(b) the licence must be granted subject to the following
conditions:
(i) a condition specifying the market as the market that the
licence authorises the licensee to operate;
(ii) a condition specifying, as the classes of financial
products that can be dealt with on the market, the
classes that are appropriate for the market under
subsection (5);
(iii) if the Minister considers that the licensee should have
clearing and settlement arrangements for transactions
effected through the market—a condition specifying the
type of clearing and settlement arrangements that are
adequate.
(3) Subject to subsection (6), a licence that subsection (2) requires to
be granted must be granted on, or as soon as practicable after, the
FSR commencement. If it is granted after the FSR commencement,
it, and the conditions subject to which it is granted, are taken to
have had effect from that commencement.
(4) Sections 795D (more than one licence in the same document) and
795E (more than one market covered by the same licence) of the
amended Corporations Act apply in relation to the granting of
licences, and licences granted, under this section as if the licences
were, or were being, granted under section 795B of that Act. If,
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pursuant to section 795E, a single licence is granted under this
section in respect of several separate markets, paragraph (2)(b) of
this section must be complied with separately in the licence
document in relation to each of those markets.
(5) For the purposes of subparagraph (2)(b)(ii), the classes of financial
products that are appropriate for a market to which this section
applies are as follows:
(a) for a market described in paragraph (1)(a) or (b)—securities,
within the meaning of section 92 of the old Corporations Act
as applying for the purposes of Part 7.2 of the old
Corporations Act, and agreements of a kind to which
section 92A of the old Corporations Act applied immediately
before the FSR commencement (or would have applied after
the FSR commencement if that section, and any associated
provisions, had continued to have effect);
(b) for a market described in paragraph (1)(c)—futures contracts,
within the meaning of section 72 of the old Corporations Act,
and agreements of a kind to which section 72A of the old
Corporations Act applied immediately before the FSR
commencement (or would have applied after the FSR
commencement if that section, and any associated provisions,
had continued to have effect).
(6) Despite anything in subsection (3), the Minister may, under this
section, grant a licence, and impose conditions on the licence, at
any time during the period starting on the commencement of this
section and ending on the FSR commencement on the basis that
matters known to the Minister in relation to the market concerned
will continue to be the case up to the FSR commencement. If the
Minister does so:
(a) the licence and conditions come into effect on the FSR
commencement, and not before; and
(b) the Minister may vary or revoke the licence, or any of the
conditions, before the FSR commencement if the Minister
considers it appropriate to do so having regard to the
provisions of this section concerning the granting of licences
and the imposition of conditions; and
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(c) the licence and conditions do not come into effect on the FSR
commencement if, immediately before the FSR
commencement, the market is not a market to which this
section applies.
(7) If the Minister grants a licence under this section, the Minister
must give the operator of the market written notice of:
(a) the grant of the licence, and the conditions imposed on the
licence; and
(b) any subsequent revocation or variation under subsection (6)
of the licence or conditions.
(8) A notice advising of the grant of a licence under this section must
contain a statement to the effect that the licence and conditions will
not take effect until the FSR commencement, or will be taken to
have had effect from the FSR commencement, as the case requires.
1414 Section 1413 markets—effect of licences and conditions
(1) Subject to subsections (2) to (4):
(a) a licence granted under section 1413 that authorises the
operation of a market is, for the purposes of the amended
Corporations Act (other than this section), taken to have been
granted (and to have been properly granted) under
section 795B of the amended Corporations Act; and
(b) conditions imposed under section 1413 on the licence are, for
the purposes of the amended Corporations Act (other than
this section), taken to have been imposed (and to have been
properly imposed) under section 796A of the amended
Corporations Act.
Note 1: Section 795C of the amended Corporations Act (publication of notice
of licence grant) applies to the grant of the licence.
Note 2: The conditions may be varied or revoked, and additional conditions
may be imposed, under section 796A of the amended Corporations
Act.
(2) Subject to subsection (4), the relevant new legislation (see
subsection (6)) does not apply in relation to the market during the
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Corporations Act 2001 57
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period (the transition period) starting on the FSR commencement
and ending on whichever of the following first occurs:
(a) the end of the period of 2 years starting on the FSR
commencement;
(b) conditions on the licence are varied or revoked, or additional
conditions are imposed on the licence, pursuant to an
application by the licensee under subsection 796A(2) of the
amended Corporations Act;
(c) the licensee has lodged with ASIC notice in writing that it
wants to take advantage of the compensation arrangements
under Division 3 of Part 7.5 of the amended Corporations
Act:
(i) from a specified date, being a date that is after the notice
is given to ASIC and that is after compensation
arrangements for the market have been approved under
Division 3 of Part 7.5 of the amended Corporations Act
(see also subsection (4)); or
(ii) from the end of a specified period, being a period that is
described as starting when compensation arrangements
for the market are approved under Division 3 of Part 7.5
of the amended Corporations Act (see also
subsection (4)) and that ends after the notice is given to
ASIC;
and that date arrives or period ends.
(3) A notice (the original notice) given for the purposes of
paragraph (2)(c) may, before the date, or the end of the period,
specified in the original notice as mentioned in that paragraph:
(a) be varied to specify another date or period, being a date or
period that would satisfy the requirements of
subparagraph (2)(c)(i) or (ii) if the reference in that
subparagraph to when the notice (being the original notice) is
given to ASIC were instead a reference to when the notice of
variation is given to ASIC under this subsection; or
(b) be revoked.
The variation or revocation must be made by notice in writing
lodged with ASIC.
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Section 1415
58 Corporations Act 2001
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(4) If the relevant new legislation in relation to a market includes
Part 7.5 of the amended Corporations Act, then, despite
subsection (2), Division 3 of that Part applies to the market during
the transition period to the extent necessary for the operator to
apply to have compensation arrangements for the market approved
before the end of the transition period, and for that application to
be determined. However, any approval of the arrangements under
that Division does not take effect until immediately after the end of
the transition period.
(5) The annual report of the licensee (see section 792F of the amended
Corporations Act) for a financial year in which part of the
transition period occurs, other than a financial year in which the
transition period ends, must include information about:
(a) the steps taken in the year; and
(b) the steps proposed to be taken in the next year;
to ensure that the relevant new legislation will be complied with by
the time the transition period ends.
(6) In this section:
relevant new legislation, in relation to a market, means:
(a) section 793A of the amended Corporations Act; and
(b) unless the market is a market to which Division 4 of Part 7.5
of the amended Corporations Act applies—Part 7.5 of the
amended Corporations Act.
1415 Section 1413 markets—preservation of old Corporations Act
provisions during transition period
Preservation of compensation regimes
(1) If, during the transition period in relation to a market the operation
of which is authorised by a licence granted under section 1413,
Part 7.5 of the amended Corporations Act does not apply in
relation to the market (except as provided in subsection 1414(4))
because of subsection 1414(2), Part 7.9, or Part 8.6, as the case
requires, of the old Corporations Act, and any associated
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Section 1416
Corporations Act 2001 59
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provisions, continue to apply in relation to the market during the
transition period.
Preservation of certain ongoing requirements
(2) During the transition period in relation to a market:
(a) the operation of which is authorised by a licence granted
under section 1413; and
(b) that, immediately before the FSR commencement, was a
securities exchange to which section 769A of the old
Corporations Act applied;
the following provisions continue to apply in relation to the
market:
(c) paragraphs 769A(1)(c) and (e) of the old Corporations Act,
and any associated provisions;
(d) section 769B of the old Corporations Act (but only as
applying in relation to paragraphs 769A(1)(c) and (e) of the
old Corporations Act), and any associated provisions.
1416 Section 1413 markets—powers for regulations to change how
the old and new Corporations Act apply during the
transition period
(1) The regulations may do all or any of the following in relation to a
market the operation of which is authorised by a licence granted
under section 1413:
(a) provide that some or all of the provisions (the relevant old
legislation) that would otherwise continue to apply in
relation to the market because of section 1415 do not apply in
relation to the market;
(b) provide that some or all of the relevant old legislation applies
in relation to the market with specified modifications during
some or all of the transition period for the market;
(c) provide that some or all of the relevant new legislation
(within the meaning of section 1414) in relation to the market
applies in relation to the market during some or all of the
transition period for the market;
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Section 1417
60 Corporations Act 2001
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(d) provide that specified provisions of the amended
Corporations Act (including relevant new legislation), and
any associated provisions, apply in relation to the market
during some or all of the transition period for the market with
specified modifications.
(2) Regulations made for the purposes of subsection (1) have effect
despite anything in sections 1414 and 1415.
(3) Subsection (1) gives a full power to disapply, apply and modify
provisions as mentioned in that subsection, including for reasons
that do not have an express or implied connection with the
transition to the relevant new legislation.
Note: So (for example), a change to the day-to-day operation of the relevant
old legislation as continuing to apply may be achieved by a
modification under paragraph (1)(b) (whether that change is to an
existing rule, or is the addition of a new rule).
1417 Section 1413 markets—additional provisions relating to
previously unregulated services
(1) This section applies to a financial market in relation to which the
following paragraphs are satisfied:
(a) a licence is granted under section 1413 to the operator of the
market; and
(b) the conditions on the licence specify, as the classes of
financial products that can be dealt with on the market, the
classes of financial products specified in whichever of
paragraphs 1413(5)(a) and (b) is applicable; and
(c) immediately before the commencement, other financial
products (the additional products) were also dealt with on
the market, and the fact that the market dealt with those
products did not constitute a contravention of a provision of
the old Corporations Act.
(2) Subject to subsection (3), section 791A of the amended
Corporations Act does not apply in relation to the market in so far
as all or any of the additional products are dealt with on the market
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Section 1418
Corporations Act 2001 61
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during the period (the transition period) starting on the FSR
commencement and ending on whichever of the following first
occurs:
(a) the end of the period of 2 years starting on the FSR
commencement;
(b) the licensee applies, under subsection 796A(2) of the
amended Corporations Act, to have the conditions on the
licence varied or revoked, or to have additional conditions
imposed on the licence.
(3) The regulations may, in relation to a market to which this section
applies and the additional products, provide that specified
provisions (including section 791A) of the amended Corporations
Act, and any associated provisions, apply in relation to a market to
which this section applies and the additional products during some
or all of the transition period for the market and the products with
specified modifications.
1418 Treatment of exempt stock markets and exempt futures
markets (other than markets with no identifiable single
operator)
(1) This section applies to the following markets:
(a) stock markets being operated immediately before the FSR
commencement that were, at that time, covered by a
declaration (the declaration of exemption) in force
immediately before the FSR commencement under
subsection 771(1) of the old Corporations Act;
(b) futures markets being operated immediately before the FSR
commencement that were, at that time, covered by a
declaration (the declaration of exemption) in force
immediately before the FSR commencement under
subsection 1127(1) of the old Corporations Act.
However it does not apply to any market to which section 1419
applies.
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62 Corporations Act 2001
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(2) Subject to subsection (5), section 791A of the amended
Corporations Act does not apply in relation to a stock market or
futures market to which this section applies during the period (the
transition period) starting on the FSR commencement and ending
on whichever of the following first occurs:
(a) the end of the period of 2 years starting on the FSR
commencement;
(b) the operator of the market is granted a licence under
section 795B of the amended Corporations Act covering the
operation of the market;
(c) the Minister makes an exemption under section 791C of the
amended Corporations Act covering the market;
(d) the declaration of exemption is revoked.
(3) Subject to subsections (4) and (5), Part 7.2 (in the case of a stock
market), or Part 8.2 (in the case of a futures market), and any
associated provisions, (the relevant old legislation) of the old
Corporations Act continue to apply in relation to a stock market or
futures market to which this section applies during the transition
period for the market.
(4) The declaration of exemption (including any conditions specified
in the declaration) for a stock market or futures market to which
this section applies cannot be varied during the transition period for
the market so as to cover the market providing services that were
not covered by the declaration as in force immediately before the
FSR commencement. However, it may be varied in other ways, or
revoked, by the Minister in writing.
(5) The regulations may do all or any of the following:
(a) provide that some or all of the relevant old legislation does
not apply in relation to a stock market or futures market to
which this section applies during some or all of the transition
period for the market;
(b) provide that some or all of the relevant old legislation applies
in relation to a stock market or futures market to which this
section applies with specified modifications during some or
all of the transition period for the market;
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Section 1419
Corporations Act 2001 63
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(c) provide that specified provisions of the amended
Corporations Act (including section 791A), and any
associated provisions, apply in relation to a stock market or
futures market to which this section applies during some or
all of the transition period for the market with specified
modifications.
1419 Treatment of exempt stock markets and exempt futures
markets that do not have a single identifiable operator
(1) This section applies to the following markets:
(a) stock markets being operated immediately before the FSR
commencement:
(i) that were, at that time, covered by a declaration (the
declaration of exemption) in force immediately before
the FSR commencement under subsection 771(1) of the
old Corporations Act; but
(ii) that did not have a single person who could be identified
as the operator of the market;
(b) futures markets being operated immediately before the FSR
commencement:
(i) that were, at that time, covered by a declaration (the
declaration of exemption) in force immediately before
the FSR commencement under subsection 1127(1) of
the old Corporations Act; but
(ii) that did not have a single person who could be identified
as the operator of the market.
(2) In this section:
exempted participant, in relation to a market to which this section
applies, means a person:
(a) who is covered by the declaration of exemption (otherwise
than in their capacity as a representative of another person
who is covered by the declaration); and
(b) whose activities connected with the market after the FSR
commencement are activities that, but for this section, would
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Section 1419
64 Corporations Act 2001
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be required by section 911A of the amended Corporations
Act to be covered by an Australian financial services licence.
(3) Subject to subsections (4) and (5), Part 7.2 (in the case of a stock
market), or Part 8.2 (in the case of a futures market), and any
associated provisions, (the relevant old legislation) of the old
Corporations Act continue to apply in relation to an exempted
participant and a stock market or futures market to which this
section applies during any period during which section 1431
provides that the relevant new legislation (within the meaning of
subsection 1431(1)) does not apply in relation to the exempted
participant’s activities connected with the market.
(4) The declaration of exemption (including any conditions specified
in the declaration) for a stock market or futures market to which
this section applies cannot:
(a) be varied during the transition period for an exempted
participant and the market so as to cover the market
providing services that were not covered by the declaration as
in force immediately before the FSR commencement; or
(b) be varied after the FSR commencement so as to cover a
person or persons it did not cover immediately before the
commencement.
However, it may be varied in other ways, or revoked, by the
Minister in writing.
(5) The regulations may do either or both of the following:
(a) provide that some or all of the relevant old legislation does
not apply in relation to an exempted participant and a market
to which this section applies during some or all of the
transition period for the exempted participant and the market;
(b) provide that some or all of the relevant old legislation applies
in relation to an exempted participant and a market to which
this section applies with specified modifications during some
or all of the transition period for the exempted participant and
the market.
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Section 1420
Corporations Act 2001 65
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1420 Treatment of stock markets of approved securities
organisations
(1) This section applies to each stock market being operated
immediately before the FSR commencement by a body corporate
covered by an approval (the instrument of approval) in force
immediately before the FSR commencement under
subsection 770(2) of the old Corporations Act, other than a stock
market to which section 1413 applies.
(2) Subject to subsections (3) and (5), section 791A of the amended
Corporations Act does not apply in relation to a stock market to
which this section applies during the period (the transition period)
starting on the FSR commencement and ending on whichever of
the following first occurs:
(a) the end of the period of 2 years starting on the FSR
commencement;
(b) the operator of the market is granted a licence under
section 795B of the amended Corporations Act covering the
operation of the market;
(c) the Minister makes an exemption under section 791C of the
amended Corporations Act covering the market;
(d) the instrument of approval is revoked.
(3) Subject to subsections (4) and (5), Parts 7.2 and 7.9, and any
associated provisions, (the relevant old legislation) of the old
Corporations Act continue to apply in relation to a stock market to
which this section applies during the transition period for the
market.
(4) The instrument of approval (including any conditions specified in
the instrument) for a stock market to which this section applies
cannot be varied during the transition period for the market so as to
cover the market providing services that were not covered by the
instrument as in force immediately before the FSR
commencement. However it may be varied in other ways, or
revoked, by the Minister in writing.
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Section 1421
66 Corporations Act 2001
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(5) The regulations may do all or any of the following:
(a) provide that some or all of the relevant old legislation does
not apply in relation to a stock market to which this section
applies during some or all of the transition period for the
market;
(b) provide that some or all of the relevant old legislation applies
in relation to a stock market to which this section applies
with specified modifications during some or all of the
transition period for the market;
(c) provide that specified provisions of the amended
Corporations Act (including section 791A), and any
associated provisions, apply in relation to a stock market to
which this section applies during some or all of the transition
period for the market with specified modifications.
1421 Treatment of special stock markets for unquoted interests in a
registered scheme
(1) This section applies to each stock market being operated before the
FSR commencement by a body corporate covered by an approval
(the instrument of approval) in force immediately before the FSR
commencement under subsection 770A(2) of the old Corporations
Act.
(2) Subject to subsection (5), section 791A of the amended
Corporations Act does not apply in relation to a stock market to
which this section applies during the period (the transition period)
starting on the FSR commencement and ending on whichever of
the following first occurs:
(a) the end of the period of 2 years starting on the FSR
commencement;
(b) the operator of the market is granted a licence under
section 795B of the amended Corporations Act covering the
operation of the market;
(c) the Minister makes an exemption under section 791C of the
amended Corporations Act covering the market;
(d) the instrument of approval is revoked.
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Section 1422
Corporations Act 2001 67
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(3) Subject to subsections (4) and (5), Part 7.2, and any associated
provisions, (the relevant old legislation) of the old Corporations
Act continue to apply in relation to a stock market to which this
section applies during the transition period for the market.
(4) The instrument of approval (including any conditions specified in
the instrument) for a stock market to which this section applies
cannot be varied during the transition period for the market so as to
cover the market providing services that were not covered by the
instrument as in force immediately before the FSR
commencement. However it may be varied in other ways, or
revoked, by the Minister in writing.
(5) The regulations may do all or any of the following:
(a) provide that some or all of the relevant old legislation does
not apply in relation to a stock market to which this section
applies during some or all of the transition period for the
market;
(b) provide that some or all of the relevant old legislation applies
in relation to a stock market to which this section applies
during some or all of the transition period for the market with
specified modifications;
(c) provide that specified provisions (including section 791A) of
the amended Corporations Act, and any associated
provisions, apply in relation to a stock market to which this
section applies during some or all of the transition period for
the market with specified modifications.
1422 Treatment of other markets that were not unauthorised
(1) This section applies to each market in relation to which the
following paragraphs are satisfied:
(a) the market is a financial market within the meaning of the
amended Corporations Act;
(b) the market was being operated immediately before the FSR
commencement;
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(c) the market is not a market to which section 1413, 1418, 1419,
1420 or 1421 applies;
(d) the market was not an unauthorised stock market or an
unauthorised futures market (as defined in section 9 of the
old Corporations Act) immediately before the FSR
commencement.
(2) Subject to subsection (3), section 791A of the amended
Corporations Act does not apply in relation to a market to which
this section applies during the period (the transition period)
starting on the FSR commencement and ending on whichever of
the following first occurs:
(a) the end of the period of 2 years starting on the FSR
commencement;
(b) the operator of the market is granted a licence under
section 795B of the amended Corporations Act covering the
operation of the market;
(c) the Minister makes an exemption under section 791C of the
amended Corporations Act covering the market;
(d) the market starts to provide services in respect of a class or
classes of financial products in respect of which it did not
provide services immediately before the commencement.
(3) The regulations may, in relation to a market to which this section
applies, provide that specified provisions (including section 791A)
of the amended Corporations Act, and any associated provisions,
apply in relation to the market during some or all of the transition
period for the market with specified modifications.
Subdivision C—Treatment of existing clearing and settlement
facilities
1423 When is a clearing and settlement facility being operated
immediately before the FSR commencement?
Subject to section 1424, in this Subdivision, a reference to a
clearing and settlement facility being operated immediately before
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Section 1424
Corporations Act 2001 69
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the FSR commencement is a reference to a clearing and settlement
facility that had not permanently ceased to operate before the FSR
commencement, even if the clearing and settlement of transactions
by means of the facility was not actually occurring immediately
before the FSR commencement (for example, because of a routine
temporary closure of the facility).
1424 Treatment of proposed clearing and settlement facilities that
have not started to operate by the FSR commencement
(1) This section applies in relation to any proposed clearing and
settlement facilities identified in, or in accordance with, regulations
made for the purposes of this subsection. For this purpose, a
proposed clearing and settlement facility is a clearing and
settlement facility that a person has, before the FSR
commencement, indicated an intention that they propose to
operate.
(2) This Subdivision applies in relation to a proposed clearing and
settlement facility to which this section applies subject to the
following paragraphs:
(a) subject to paragraphs (b), (c) and (d), this Subdivision applies
in relation to the proposed facility as if the facility, as
proposed to be operated, were in fact being operated
immediately before the FSR commencement;
(b) if, taking account of the effect of paragraph (a), section 1425
applies in relation to the proposed facility, that section
applies in relation to the proposed facility:
(i) as if the Minister’s obligation to grant a licence, and
impose conditions, under subsection 1425(2) in relation
to the proposed facility does not arise unless and until
the facility operator lodges with ASIC a notice in
relation to the facility under subsection (3) of this
section, and does not arise at all if no such notice is
given to ASIC by the end of 6 months after the FSR
commencement; and
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(ii) as if subsection 1425(3) provided for a licence so
granted under subsection 1425(2) in relation to the
facility, and the conditions subject to which it is
granted, to be taken to have had effect from the day (the
start day) specified in the subsection (3) notice as the
day on which the facility started to operate; and
(iii) as if subsection 1425(6) were omitted; and
(iv) as if the references in subsection 1425(8) to the FSR
commencement were instead references to the start day;
(c) if:
(i) taking account of the effect of paragraph (a),
section 1429 applies to the proposed facility; and
(ii) the facility operator does not lodge with ASIC a notice
in relation to the facility under subsection (3) of this
section by the end of 6 months after the FSR
commencement;
that section ceases to apply in relation to the proposed facility
at the end of that period;
(d) if a provision of this Subdivision provides for a provision of
the old Corporations Act to continue to apply in relation to
the proposed facility, then (without limiting the generality of
subsection 1410(3)), while the proposed facility remains
non-operational, the provision of the old Corporations Act
only applies in relation to the proposed facility to the extent
(if any) to which it would, disregarding the effect of
paragraph (a), apply in relation to the proposed facility.
(3) If a proposed clearing and settlement facility to which this section
applies starts to operate on a day during the period of 6 months
starting on the FSR commencement, the operator must, as soon as
practicable, and in any event within 7 days, lodge with ASIC
written notice of the fact that the facility started to operate on that
day.
Note: Failure to comply with this subsection is an offence (see
subsection 1311(1)).
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Section 1424A
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(4) ASIC must, within a reasonable time, give the Minister a notice it
receives under subsection (3).
1424A Treatment of unregulated clearing and settlement facilities
operated by holders of old Corporations Act approvals
(1) This section applies in relation to a clearing and settlement facility
if:
(a) the facility was being operated immediately before the FSR
commencement by a body corporate in relation to which an
approval under section 1131 of the old Corporations Act was
in force at that time; but
(b) the services provided by the facility as so operated were not
such that section 1128 of the old Corporations Act required
the operator to be so approved.
(2) In this section:
(a) a reference to the unregulated services is a reference to the
services referred to in paragraph (1)(b); and
(b) a reference to regulated services is a reference to services
that, if they had been provided by the facility immediately
before the commencement, would have been services to
which section 1128 of the old Corporations Act applied.
(3) For the purposes of section 1425 (as it operates of its own force,
rather than because of section 1424), the facility is not to be
regarded as a facility that was being operated immediately before
the FSR commencement.
(4) If the operator has, before the FSR commencement, indicated an
intention that they propose to extend the services provided by the
facility so that they also cover regulated services:
(a) regulations made for the purposes of subsection 1424(1) may
identify the facility as a proposed clearing and settlement
facility, but only in relation to those regulated services; and
(b) if they do so, section 1424, and section 1425 as it applies
because of section 1424, apply in relation to the facility and
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Section 1425
72 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
those regulated services as if the facility did not already
provide the unregulated services.
1425 Obligation of Minister to grant licences covering main existing
facilities
(1) This section applies to each clearing and settlement facility being
operated immediately before the FSR commencement in relation to
which either of the following paragraphs applies:
(a) the facility was being operated by the body corporate that
was, for the purposes of the old Corporations Act, the
securities clearing house;
(b) the facility was being operated by a body corporate in
relation to which an approval (the section 1131 approval)
under section 1131 of the old Corporations Act was in force
at that time.
(2) Subject to subsections (3) and (4), the Minister must, in relation to
each clearing and settlement facility to which this section applies,
grant the operator of the facility a licence, and impose conditions
on that licence, in accordance with the following requirements:
(a) the licence must be described as an Australian CS facility
licence;
(b) the licence must be granted subject to the following
conditions:
(i) a condition specifying the facility as the facility that the
licence authorises the licensee to operate;
(ii) a condition specifying, as the classes of financial
products in respect of which the facility can provide
services, the classes that are appropriate for the facility
under subsection (5);
(iii) in the case of a facility to which paragraph (1)(b)
applies—a condition to the effect that the licence only
covers the facility providing services for the market or
markets that were covered by the section 1131 approval.
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Corporations Act 2001 73
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(3) Subject to subsection (6), a licence that subsection (2) requires to
be granted must be granted on, or as soon as practicable after, the
FSR commencement. If it is granted after the FSR commencement,
it, and the conditions subject to which it is granted, are taken to
have had effect from that commencement.
(4) Sections 824D (more than one licence in the same document) and
824E (more than one CS facility covered by the same licence) of
the amended Corporations Act apply in relation to the granting of
licences, and licences granted, under this section as if the licences
were, or were being, granted under section 824B of that Act. If,
pursuant to section 824E, a single licence is granted under this
section in respect of several separate facilities, paragraph (2)(b) of
this section must be complied with separately in the licence
document in relation to each of those facilities.
(5) For the purposes of subparagraph (2)(b)(ii), the classes of financial
products that are appropriate for a facility to which this section
applies are as follows:
(a) for a facility described in paragraph (1)(a)—securities, within
the meaning of section 92 of the old Corporations Act as
applying for the purposes of Part 7.2 of the old Corporations
Act, and agreements of a kind to which section 92A of the
old Corporations Act applied immediately before the FSR
commencement (or would have applied after the FSR
commencement if that section, and any associated provisions,
had continued to have effect);
(b) for a facility described in paragraph (1)(b)—futures
contracts, within the meaning of section 72 of the old
Corporations Act, and agreements of a kind to which
section 72A of the old Corporations Act applied immediately
before the FSR commencement (or would have applied after
the FSR commencement if that section, and any associated
provisions, had continued to have effect).
(6) Despite anything in subsection (3), the Minister may, under this
section, grant a licence, and impose conditions on the licence, at
any time during the period starting on the commencement of this
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Section 1426
74 Corporations Act 2001
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section and ending on the FSR commencement on the basis that
matters known to the Minister in relation to the clearing and
settlement facility concerned will continue to be the case up to the
FSR commencement. If the Minister does so:
(a) the licence and conditions come into effect on the FSR
commencement, and not before; and
(b) the Minister may vary or revoke the licence, or any of the
conditions, before the FSR commencement if the Minister
considers it appropriate to do so having regard to the
provisions of this section concerning the granting of licences
and the imposition of conditions; and
(c) the licence and conditions do not come into effect on the FSR
commencement if, immediately before the FSR
commencement, the facility is not a clearing and settlement
facility to which this section applies.
(7) If the Minister grants a licence under this section, the Minister
must give the operator of the clearing and settlement facility
written notice of:
(a) the grant of the licence, and the conditions imposed on the
licence; and
(b) any subsequent revocation or variation under subsection (6)
of the licence or conditions.
(8) A notice advising of the grant of a licence under this section must
contain a statement to the effect that the licence and conditions will
not take effect until the FSR commencement, or will be taken to
have had effect from the FSR commencement, as the case requires.
1426 Section 1425 facilities—effect of licences and conditions
(1) Subject to subsections (2) to (4):
(a) a licence granted under section 1425 that authorises the
operation of a facility is, for the purposes of the amended
Corporations Act (other than this section), taken to have been
granted (and to have been properly granted) under
section 824B of the amended Corporations Act; and
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Corporations Act 2001 75
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(b) conditions imposed under section 1425 on the licence are, for
the purposes of the amended Corporations Act (other than
this section), taken to have been imposed (and to have been
properly imposed) under section 825A of the amended
Corporations Act.
Note 1: Section 824C of the amended Corporations Act (publication of notice
of licence grant) applies to the grant of the licence.
Note 2: The conditions may be varied or revoked, and additional conditions
may be imposed, under section 825A of the amended Corporations
Act.
(2) Section 822A of the amended Corporations Act does not apply in
relation to the facility during the period (the transition period)
starting on the FSR commencement and ending on whichever of
the following first occurs:
(a) the end of the period of 2 years starting on the FSR
commencement;
(b) conditions on the licence are varied or revoked, or additional
conditions are imposed on the licence, pursuant to an
application by the licensee under subsection 825A(2) of the
amended Corporations Act.
(3) The annual report of the licensee (see section 821E of the amended
Corporations Act) for a financial year in which part of the
transition period occurs, other than a financial year in which the
transition period ends, must include information about:
(a) the steps taken in the year; and
(b) the steps proposed to be taken in the next year;
to ensure that section 822A of the amended Corporations Act will
be complied with by the time the transition period ends.
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Section 1427
76 Corporations Act 2001
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1427 Section 1425 facilities—powers for regulations to change how
the old and new Corporations Act apply during the
transition period
(1) The regulations may do either or both of the following in relation
to a clearing and settlement facility the operation of which is
authorised by a licence granted under section 1425:
(a) provide that section 822A of the amended Corporations Act,
and any associated provisions, apply in relation to the facility
during some or all the transition period for the facility;
(b) provide that specified provisions of the amended
Corporations Act (including section 822A), and any
associated provisions, apply in relation to the facility during
some or all of the transition period for the facility with
specified modifications.
(2) Regulations made for the purposes of subsection (1) have effect
despite anything in section 1426.
1428 Section 1425 facilities—additional provisions relating to
previously unregulated services
(1) This section applies to a clearing and settlement facility in relation
to which the following paragraphs are satisfied:
(a) a licence is granted under section 1425 to the operator of the
facility; and
(b) the conditions on the licence specify, as the classes of
financial products in respect of which the facility can provide
services, the classes of financial products specified in
whichever of paragraphs 1425(5)(a) and (b) is applicable;
and
(c) the facility also, immediately before the commencement,
provided services in respect of one or more other classes of
financial products (the additional products) and the fact that
it did so did not constitute a contravention of a provision of
the old Corporations Act.
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Section 1429
Corporations Act 2001 77
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(2) Subject to subsection (3), section 820A of the amended
Corporations Act does not apply in relation to the facility in so far
as it provides services in respect of all or any of the additional
products during the period (the transition period) starting on the
FSR commencement and ending on whichever of the following
first occurs:
(a) the end of the period of 2 years starting on the FSR
commencement;
(b) conditions on the licence are varied or revoked, or additional
conditions are imposed on the licence, pursuant to an
application by the licensee under subsection 825A(2) of the
amended Corporations Act.
(3) The regulations may provide that specified provisions of the
amended Corporations Act (including section 820A), and any
associated provisions, apply in relation to a clearing and settlement
facility to which this section applies, and its provision of services
in respect of all or any of the additional products, during some or
all of the transition period for the facility and the products with
specified modifications.
1429 Treatment of other clearing and settlement facilities
(1) This section applies to each clearing and settlement facility being
operated immediately before the FSR commencement in relation to
which both of the following paragraphs are satisfied:
(a) the clearing and settlement facility is not a facility to which
section 1425 applies;
(b) section 1128 of the old Corporations Act did not,
immediately before the FSR commencement, require the
operator of the facility to be a person approved under
section 1131.
(2) Subject to subsection (3), section 820A of the amended
Corporations Act does not apply in relation to the facility during
the period (the transition period) starting on the FSR
commencement and ending on whichever of the following first
occurs:
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Section 1430
78 Corporations Act 2001
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(a) the end of the period of 2 years starting on the FSR
commencement;
(b) the operator of the facility is granted a licence under
section 824B of the amended Corporations Act covering the
facility;
(c) the Minister makes an exemption under section 820C of the
amended Corporations Act covering the facility;
(d) the facility starts to provide services in respect of a class or
classes of financial products in respect of which it did not
provide services immediately before the FSR
commencement.
(3) The regulations may provide that specified provisions of the
amended Corporations Act (including section 820A), and any
associated provisions, apply in relation to a clearing and settlement
facility to which this section applies during some or all of the
transition period for the facility with specified modifications.
Subdivision D—Treatment of people who carry on financial
services businesses and their representatives
1430 Meaning of regulated principal, regulated activities and relevant
old legislation
(1) For the purposes of this Subdivision, a person is a regulated
principal if, immediately before the FSR commencement, the
person is a person described in column 2 of one of the items in the
following table. The regulated activities of that person are as
specified in column 3 of that item, and the relevant old legislation
are as specified in column 4 of that item.
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Section 1430
Corporations Act 2001 79
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Regulated principals and regulated activities
Item These persons are
regulated principals
These are the
regulated principal’s
regulated activities
This is the relevant old
legislation (if any)
1 A holder of a dealers
licence within the
meaning of the old
Corporations Act.
The activities that the
licence (as in force
immediately before the
FSR commencement)
authorised the person
to carry on.
Parts 7.3, 7.4 (other than
Division 2), 7.5, 7.6 and
7.7 of the old Corporations
Act, and any associated
provisions.
2 A holder of an
investment advisers
licence within the
meaning of the old
Corporations Act.
The activities that the
licence (as in force
immediately before the
FSR commencement)
authorised the person
to carry on.
Parts 7.3, 7.4 (other than
Division 2) and 7.7 of the
old Corporations Act, and
any associated provisions.
3 A holder of a futures
brokers licence within
the meaning of the old
Corporations Act.
The activities that the
licence (as in force
immediately before the
FSR commencement)
authorised the person
to carry on.
Parts 8.3, 8.4 (other than
section 1210) and 8.5 of
the old Corporations Act,
and any associated
provisions.
4 A holder of a futures
advisers licence within
the meaning of the old
Corporations Act.
The activities that the
licence (as in force
immediately before the
FSR commencement)
authorised the person
to carry on.
Parts 8.3 and 8.4 (other
than section 1210) of the
old Corporations Act, and
any associated provisions.
5 A registered insurance
broker within the
meaning of the
Insurance (Agents and
Brokers) Act 1984 as in
force immediately
before the FSR
commencement.
The person’s business
as an insurance broker
within the meaning of
the Insurance (Agents
and Brokers) Act 1984
as in force immediately
before the FSR
commencement.
All the provisions of the
Insurance (Agents and
Brokers) Act 1984 as in
force immediately before
the FSR commencement,
and any associated
provisions.
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Section 1430
80 Corporations Act 2001
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Regulated principals and regulated activities
Item These persons are
regulated principals
These are the
regulated principal’s
regulated activities
This is the relevant old
legislation (if any)
6 A body regulated by
APRA carrying on
activities that, if carried
on after the FSR
commencement, would
(apart from this
Subdivision) be
required by the
amended Corporations
Act to be covered by an
Australian financial
services licence.
The class of activities
carried on by the
person immediately
before the FSR
commencement that, if
carried on after the
FSR commencement,
would (apart from this
Subdivision) be
required by the
amended Corporations
Act to be covered by an
Australian financial
services licence.
For a body regulated by
APRA that was an insurer
within the meaning of the
Insurance (Agents and
Brokers) Act 1984 as in
force immediately before
the FSR commencement—
all the provisions of that
Act as then in force, and
any associated provisions.
In any other case—subject
to any regulations made
for the purposes of this
item, there is no relevant
old legislation.
7 A person who is a
registered foreign
insurance agent of an
unauthorised foreign
insurer within the
meaning of the
Insurance (Agents and
Brokers) Act 1984 as in
force immediately
before the FSR
commencement.
The person’s business
as a foreign insurance
agent.
All the provisions of the
Insurance (Agents and
Brokers) Act 1984 as in
force immediately before
the FSR commencement,
and any associated
provisions.
8 A holder of a general
authority under
regulation 38A of the
Banking (Foreign
Exchange) Regulations
as in force immediately
before the FSR
commencement.
The activities the
authority authorises its
holder to carry on.
Regulations 38A and 39 of
the Banking (Foreign
Exchange) Regulations as
in force immediately
before the FSR
commencement.
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Section 1430
Corporations Act 2001 81
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Regulated principals and regulated activities
Item These persons are
regulated principals
These are the
regulated principal’s
regulated activities
This is the relevant old
legislation (if any)
9 A person included in a
class of persons
specified in regulations
made for the purposes
of this item.
For a person in a class
so specified, the
activities identified in,
or in accordance with,
the regulations as being
the regulated activities
of a person in that
class.
The provisions (if any)
identified in, or in
accordance with, the
regulations as being the
relevant old legislation for
a person in that class, and
any associated provisions.
10 A person who carries
on any other activities
(that is, activities that
are not regulated
activities for the
purposes of any of
items 1 to 9) that, if
carried on after the
FSR commencement,
would (apart from this
Subdivision) be
required by the
amended Corporations
Act to be covered by an
Australian financial
services licence, except
to the extent that
subsection (2) excludes
this item from
applying.
The class of activities
so carried on by the
person immediately
before the FSR
commencement that, if
carried on after the
FSR commencement,
would (apart from this
Subdivision) be
required by the
amended Corporations
Act to be covered by an
Australian financial
services licence.
There is no relevant old
legislation.
(2) Item 10 of the table in subsection (1) does not apply to a person
and activities they carry on to the extent that the person’s carrying
on of any of those activities is in contravention of any of the
provisions of the relevant old legislation for any of the other
categories of regulated principals.
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Section 1431
82 Corporations Act 2001
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(3) If a person is a regulated principal of 2 or more different kinds, this
Subdivision applies separately in relation to the person in their
capacity as a regulated principal of each of those kinds.
Note: This may result (depending on what action the regulated principal
takes) in a regulated principal having to comply with the relevant new
legislation (within the meaning of subsection 1431(1)) in respect of
their activities as a regulated principal of one kind, but, at the same
time, having to comply with the relevant old legislation in respect of
their activities as a regulated principal of another kind.
1431 Parts 7.6, 7.7 and 7.8 of the amended Corporations Act
generally do not apply to a regulated principal during the
transition period
(1) Subject to subsections (2) and (3), Parts 7.6 (other than
Subdivisions A and B of Division 4, and Division 5), 7.7 and 7.8
(other than section 992A) of the amended Corporations Act (the
relevant new legislation) do not apply to a regulated principal and
their regulated activities during the period (the transition period)
starting on the FSR commencement and ending when the first of
the following events occurs:
(a) the period of 2 years starting on the FSR commencement
ends;
(b) the regulated principal is granted a licence under
section 913B of the amended Corporations Act that covers
their regulated activities;
(c) the regulated principal starts to be covered by an exemption
under subsection 911A(2) of the amended Corporations Act
(or would start to be so covered if that subsection applied) in
respect of their regulated activities;
(d) the regulated principal ceases (for whatever reason) to have
the status that made them a regulated principal.
For the purposes of paragraph (d), having a status includes holding
a licence, registration, approval or other similar thing, or carrying
on particular activities.
Note 1: Because of section 1441, a regulated principal whose transition period
has not ended (and so who is not required to comply with the relevant
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Corporations Act 2001 83
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new legislation) may nonetheless be required to comply with
obligations under Part 7.9 of the amended Corporations Act.
Note 2: For the treatment of representatives, see section 1436.
(2) Division 5 of Part 7.6 of the amended Corporations Act has effect
in relation to a regulated principal during the transition period
subject to the following paragraphs:
(a) the regulated principal may give and revoke authorisations
under section 916A or consents under subsection 916B(3) as
if the regulated principal were a financial services licensee,
however, for the purposes of the provisions of the amended
Corporations Act outside that Division, such an authorisation
or consent is taken not to have effect unless and until the
regulated principal is granted a licence under section 913B of
the amended Corporations Act that covers the activities to
which the authorisation or consent relates (whether or not it
also covers other activities);
(b) a person authorised by a section 916A authorisation so made
by the regulated principal may give and revoke authorisations
under subsection 916B(3) as if they were an authorised
representative and the regulated principal were the
authorising financial services licensee, however, for the
purposes of the provisions of the amended Corporations Act
outside that Division, such an authorisation is taken not to
have effect unless and until the regulated principal is granted
a licence under section 913B of the amended Corporations
Act that covers the activities to which the authorisation
relates (whether or not it also covers other activities);
(c) the regulated principal may give and revoke consents under
section 916C as if they were a financial service licensee,
however, any such consent does not take effect unless and
until the regulated principal is granted a licence under
section 913B of the amended Corporations Act;
(d) section 916F applies in relation to an authorisation so made
by the regulated principal during the transition period as if
the period of 15 business days referred to in
subsections 916F(1) and (1A) did not start unless and until
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Section 1432
84 Corporations Act 2001
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the regulated principal is granted a licence under
section 913B of the amended Corporations Act that covers
the activities to which the authorisation relates (whether or
not it also covers other activities), and section 916F does not
apply at all in relation to revocations so made during the
transition period.
(3) If, before paragraph (1)(a) or (d) occurs:
(a) the regulated principal is granted a licence under
section 913B of the amended Corporations Act that covers
some only (the relevant part) of their regulated activities; or
(b) the regulated principal starts to be covered by an exemption
under subsection 911A(2) of the amended Corporations Act
in respect of some only (the relevant part) of their regulated
activities;
the relevant new legislation starts applying, from that time, to the
relevant part of the regulated principal’s regulated activities, and
subsection (1) continues to apply to the person as if the regulated
principal’s regulated activities did not include the relevant part.
(4) Subsection (3) has effect subject to subsection 1430(3).
1432 Continued application of relevant old legislation
(1) Subject to subsection (2), during the transition period for a
regulated principal, the relevant old legislation (if any) continues to
apply, despite its repeal:
(a) to, and in relation to, the regulated principal and their
regulated activities; and
(b) to any other person to whom it is expressed to apply, but only
in relation to matters related to the regulated principal and
their regulated activities.
Note: So, for example, people may continue to be appointed as agents or
representatives of the regulated principal (or to have those
appointments varied or revoked) during the transition period under
provisions of the relevant old legislation that deal with such matters.
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Section 1433
Corporations Act 2001 85
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(2) If, because of subsection 1431(2), the relevant new legislation
(within the meaning of subsection 1431(1)) starts to apply to part
of a person’s regulated activities from a particular time, the
relevant old legislation (if any) stops applying, from that time, in
relation to that part of those activities.
1433 Streamlined licensing procedure for certain regulated
principals
(1) This section applies to the following regulated principals:
(a) a regulated principal of a kind referred to in any of items 1 to
5 of the table in subsection 1430(1), but not including anyone
who is:
(i) an exempted participant for the purposes of
section 1419; or
(ii) in a class of persons specified in, or identified in
accordance with, regulations made for the purposes of
subsection (3);
(b) a regulated principal of a kind referred to in item 9 of that
table who:
(i) is in a class of persons specified in regulations made for
the purposes of this subparagraph; and
(ii) is not in a class of persons specified in, or identified in
accordance with, regulations made for the purposes of
subsection (3).
(2) If:
(a) a regulated principal to whom this section applies, before the
end of their transition period, applies (in accordance with
section 913A of the amended Corporations Act) for a licence
covering some or all of their regulated activities (but no other
activities); and
(b) their application includes a statement (in accordance with the
requirements of the application form) to the effect that they
will, if granted the licence, comply with their obligations as a
financial services licensee;
the following provisions apply:
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Section 1434
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(c) section 913B of the amended Corporations Act applies to
their application as if paragraphs 913B(1)(b), (c), (ca) and
(d), and subsections 913B(2) to (5), were omitted; and
(d) the licence condition required by subsection 914A(6) of the
amended Corporations Act in relation to a licence granted
pursuant to their application must specify, as the financial
services that the licensee is authorised to provide, financial
services that equate (as closely as possible) to the regulated
activities in respect of which the application was made.
Note 1: Paragraph (c) does not limit the matters that can be taken into account
under section 915C (suspension or cancellation after offering a
hearing) in relation to a licence that has been granted under
section 913B as it applies because of this section.
Note 2: The condition referred to in paragraph (d), as with any other
conditions imposed on the licence under section 914A of the amended
Corporations Act, is subject to variation or revocation in accordance
with that section.
(3) The regulations may identify classes of persons, or provide for the
identification of classes of persons, who are not to be covered by
this section.
1434 Special licences for insurance multi-agents during first 2 years
after FSR commencement
(1) For the purposes of this section, a person is an insurance
multi-agent at a particular time if, at that time:
(a) the person is an insurance intermediary (but not an insurance
broker), within the meaning of the Insurance (Agents and
Brokers) Act 1984 as then in force; and
(b) the person has agreements with 2 or more different insurers
under section 10 of that Act.
(2) If:
(a) a person who, immediately before the FSR commencement,
is an insurance multi-agent applies in accordance with
section 913A of the amended Corporations Act for a licence,
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during the period of 2 years starting on the FSR
commencement; and
(b) the application is lodged at a time:
(i) when the person is still carrying on activities as agent
for one or more of the insurers with whom, immediately
before the FSR commencement, they had agreements as
mentioned in paragraph (1)(b); or
(ii) that is not more than 6 months after the person ceased to
so carry on activities as agent for any of those insurers;
and
(c) their application includes a statement (in accordance with the
requirements of the application form) to the effect that they
want this section to apply to their application;
the following provisions apply:
(d) section 913B of the amended Corporations Act applies to
their application as if the reference in paragraph 913B(1)(b)
to section 912A did not include the obligations under
paragraphs 912A(e) and (f);
(e) the licence condition required by subsection 914A(6) of the
amended Corporations Act in relation to a licence granted
pursuant to their application must specify, as the financial
services that the licensee is authorised to provide:
(i) providing financial product advice in relation to risk
insurance products and investment life insurance
products; and
(ii) dealing in risk insurance products and investment life
insurance products.
(3) If the application is granted, then:
(a) while the licence remains in force:
(i) paragraphs 912A(e) and (f) of the amended
Corporations Act do not apply to the licensee and the
financial services covered by the licence; and
(ii) sections 942B and 942C apply in relation to any
Financial Services Guide provided by the licensee or an
authorised representative of the licensee as if they
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included a requirement to include in the Guide a
statement that the licensee is not bound by the
obligations in paragraphs 912A(e) and (f) and that sets
out what those obligations are; and
(b) the licence conditions cannot be varied so that the licence
covers the licensee providing financial services other than
those referred to in paragraph (2)(e); and
(c) the licence ceases to be in force (unless earlier revoked) at
the end of the period of 2 years starting on the FSR
commencement.
1435 Licensing decisions made within the first 2 years of the FSR
commencement—regard may be had to conduct and
experience of applicant or related body corporate that
currently provides same or similar services
(1) This section applies:
(a) if a person applies, during the period of 2 years starting on
the FSR commencement, under section 913A of the amended
Corporations Act for the grant of a licence covering the
provision of particular financial services (the relevant
financial services); and
(b) ASIC is aware that:
(i) the applicant; or
(ii) if the applicant is a body corporate—a related body
corporate of the applicant;
is currently (as at the time the application is being considered
by ASIC) providing services that are the same as, or similar
to, all or any of the relevant financial services.
(2) In considering the matters it is required by section 913B of the
amended Corporations Act to consider in deciding whether to grant
the licence, ASIC may (but is not required to) have regard to the
conduct and experience (including conduct and experience before
the FSR commencement) of the applicant, or the related body
corporate, in providing services that are the same as, or similar to,
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all or any of the relevant financial services (so far as ASIC is aware
of such conduct and experience).
(3) Subsection (2) is not intended to limit, by implication, the matters
that ASIC can take into account under section 913B of the
amended Corporations Act when considering whether to grant a
licence under that section (whether pursuant to an application to
which this section applies or otherwise).
1436 Treatment of representatives—general
(1) This section applies to a person who is a representative of a
regulated principal. For this purpose, a representative includes, but
is not limited to:
(a) an agent (however described) of the regulated principal; and
(b) an employee or director of the regulated principal; and
(c) any other person who, in accordance with the regulated
principal’s relevant old legislation as it continues to have
effect in relation to the regulated principal, is authorised to
carry on activities for or on behalf of the regulated principal.
(1A) However, if a person who, under subsection (1), would be the
representative of another person is a financial services licensee in
their own right, the licensee, when engaged in activities covered by
their licence, is taken not to be acting as representative of that other
person.
(2) The following provisions apply in relation to a person who is a
representative of a regulated principal:
(a) during any period when, because of section 1431, the
relevant new legislation (within the meaning of
subsection 1431(1)) does not apply to the regulated principal
and particular regulated activities, the relevant new
legislation also does not apply to the representative when
they are acting as a representative of the regulated principal
in relation to any of those activities;
(b) during any period when, because of section 1432, relevant
old legislation continues to apply to the regulated principal
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and particular regulated activities, that legislation also
continues to apply to the representative when they are acting
as a representative of the regulated principal in relation to
any of those activities.
Note 1: If a person is a representative of 2 persons, this may result in the
person having to comply with the relevant new legislation in respect
of what they do as a representative of one of those persons but, at the
same time, having to comply with relevant old legislation in respect of
what they do as a representative of the other of those persons.
Note 2: If a person is a representative of another person who carries on 2
different sets of activities, being sets of activities in relation to which
there are separate applications of this Subdivision because of
subsection 1430(3), this may result in the person having to comply
with the relevant new legislation in respect of what they do in relation
to one of those sets of activities but, at the same time, having to
comply with relevant old legislation in respect of what they do in
relation to the other set of activities.
Note 3: Because of section 1441, a representative who is not required to
comply with the relevant new legislation may nonetheless be required
to comply with obligations under Part 7.9 of the amended
Corporations Act.
1436A Treatment of representatives—insurance agents
(1) This section has effect despite anything else in this Subdivision,
including sections 1436 and 1437.
(2) This section applies if, immediately before the FSR
commencement, a person is an insurance intermediary (but not an
insurance broker) within the meaning of the Insurance (Agents and
Brokers) Act 1984 as then in force because of an agreement they
have with an insurer under section 10 of that Act. For the purposes
of this section:
(a) the person is the insurance agent; and
(b) the agreement is the authorising agreement; and
(c) the matters dealt with in the provisions included in the
agreement in compliance with section 10 of that Act, and any
other matters included in the agreement that are related to
those matters, are the relevant matters; and
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(d) the insurer is the principal.
If, immediately before the FSR commencement, the person has
more than one such agreement, this section applies separately in
relation to each of those agreements.
(3) For the purposes of this section, the transition period is the period
starting on the FSR commencement and ending when the first of
the following events occurs:
(a) the period of 2 years starting on the FSR commencement
ends;
(b) the authorising agreement ceases to be in force;
(c) the insurance agent has lodged with ASIC notice in writing
that the agent no longer wants to be covered by the Insurance
(Agents and Brokers) Act 1984:
(i) from a specified date, being a date that is after the notice
is given to ASIC; or
(ii) from the end of a specified period, being a period that
ends after the notice is given to ASIC;
and that date arrives or period ends;
(d) the insurance agent is granted a licence under section 913B
(including as it has effect because of section 1434) of the
amended Corporations Act that covers the insurance agent
engaging in (as licensee) the range of activities that they
previously engaged in as agent under the authorising
agreement.
(4) A notice (the original notice) given for the purposes of
paragraph (3)(c) may before the date, or the end of the period,
specified in the original notice as mentioned in that paragraph:
(a) be varied to specify another date or period, being a date or
period that would satisfy the requirements of
subparagraph (3)(c)(i) or (ii) if the reference in that
subparagraph to when the notice (being the original notice) is
given to ASIC were instead a reference to when the notice of
variation is given to ASIC under this subsection; or
(b) be revoked.
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The variation or revocation must be made by notice in writing
lodged with ASIC.
(5) Subject to subsection (7), during the transition period, the
Insurance (Agents and Brokers) Act 1984 as in force immediately
before the FSR commencement, and any associated provisions,
(the relevant old legislation) continue to apply (despite the repeal
of that Act) to, and in relation to, the insurance agent, the principal
and the relevant matters.
(6) Subject to subsection (7), during the transition period, the relevant
new legislation (within the meaning of section 1431) does not
apply to, or in relation to, the insurance agent, the principal and the
relevant matters.
(7) Regulations made for the purposes of this subsection may do either
or both of the following:
(a) provide that specified provisions of the relevant old
legislation apply (with or without specified modifications), or
do not apply, to the insurance agent, the principal and some
or all of the relevant matters;
(b) provide that specified provisions of the relevant new
legislation apply (with or without specified modifications), or
do not apply, to the insurance agent, the principal and some
or all of the relevant matters.
The regulations may provide as mentioned in paragraph (a) or (b)
even after the end of the transition period.
(8) If:
(a) before the end of the transition period, or such longer period
during which regulations made for the purposes of
subsection (7) provide for the application of some or all of
the relevant old legislation, the insurance agent engages in
conduct that, under the authorising agreement as then in
force, creates a right to brokerage, commission or other
remuneration (which may be a present right, or a future right
that is dependent on matters specified in the authorising
agreement); and
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(b) that right is still in existence immediately before the end of
that period;
the right is not taken to be brought to an end merely because of the
repeal of the relevant old legislation or the enactment of the
relevant new legislation, or because under this section the relevant
old legislation ceases to apply and the relevant new legislation
starts to apply.
(9) Subsection (8) is not intended to affect, in any way, the
determination of the question whether any other right (whether or
not it is under an agreement under section 10 of the Insurance
(Agents and Brokers) Act 1984) is in any way affected by the
provisions of the Financial Services Reform Act 2001 or the
Financial Services Reform (Consequential Provisions) Act 2001
(including the amendments made by those Acts).
1437 Exemptions and modifications by ASIC
(1) This section applies to the following provisions:
(a) the provisions of this Subdivision (other than section 1436A)
and any associated provisions;
(b) the provisions of legislation that continues to apply because
of subsection 1432(1) or 1436(3).
(2) ASIC may:
(a) exempt a person or a class of persons from some or all of the
provisions to which this section applies; or
(b) declare that some or all of the provisions to which this
section applies apply in relation to a person or a class of
persons as if the provisions were modified or varied as
specified in the declaration.
(3) A declaration under paragraph (2)(b) may provide for the
continued application (with or without modifications, and to the
exclusion of provisions of the amended Corporations Act) of
provisions referred to in paragraph (1)(b), even after the end of the
period of 2 years starting on the FSR commencement.
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(4) An exemption may apply unconditionally or subject to specified
conditions. A person to whom a condition specified in an
exemption applies must comply with the condition. The Court may
order the person to comply with the condition in a specified way.
Only ASIC may apply to the Court for the order.
(5) An exemption or declaration must be in writing and ASIC must
publish notice of it in the Gazette.
(6) If conduct (including an omission) of a person would not constitute
an offence if a particular declaration under paragraph (2)(b) had
not been made, that conduct does not constitute an offence unless,
before the conduct occurred (in addition to complying with the
gazettal requirement of subsection (5)):
(a) the text of the declaration was made available by ASIC on
the internet; or
(b) ASIC gave written notice setting out the text of the
declaration to the person.
In a prosecution for an offence to which this subsection applies, the
prosecution must prove that paragraph (a) or (b) was complied with
before the conduct occurred.
Subdivision E—Product disclosure requirements
1438 New product disclosure provisions do not apply to existing
products during transition period
(1) This section applies to all financial products issued by a person,
other than financial products in a class of products that are first
issued by the person after the FSR commencement.
(2) For the purposes of this section, the new product disclosure
provisions in relation to a financial product to which this section
applies are the provisions of Part 7.9 of the amended Corporations
Act that, apart from this section, would apply in relation to the
financial product (whether those provisions apply to the issuer of
the product or to another person or persons), other than the
following provisions:
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(a) section 1017C (information for existing holders of
superannuation products and RSA products);
(b) section 1017DA (trustees of superannuation entities—
regulations may specify additional obligations to provide
information), and regulations made for the purposes of that
section;
(c) section 1017E (dealing with money received for financial
product before the product is issued);
(d) section 1017F (confirming transactions);
(e) sections 1019A and 1019B (cooling-off period for return of
financial product);
(ea) Division 5A (unsolicited offers to purchase financial
products off-market);
(f) sections 1020B and 1020C (short selling of securities,
managed investment products and certain other financial
products);
(g) section 1020D (Part cannot be contracted out of).
(3) Subject to subsection (4), the new product disclosure provisions do
not apply in relation to a financial product to which this section
applies during the period (the transition period) starting on the
FSR commencement and ending on whichever of the following
first occurs:
(a) the end of the period of 2 years starting on the FSR
commencement;
(b) the date specified in a notice lodged with ASIC by the issuer
of the product that relates to the product, or a class of
financial products that includes the product, and that satisfies
the following requirements:
(i) the notice must indicate that the issuer of the product
wants the new product disclosure provisions to apply in
relation to the product from a date specified in the
notice;
(ii) the date specified in the notice is the FSR
commencement or a later date;
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(iii) the date specified in the notice is at least 28 days after
the notice is lodged with ASIC.
Note 1: A notice under paragraph (b) may be lodged during the period
between the commencement of this section and the FSR
commencement, or it may be lodged after the FSR commencement.
Note 2: Subject to Division 2, the provisions covered by paragraphs (2)(a) to
(f) apply from the FSR commencement in relation to all financial
products to which they purport to apply.
(4) If the date specified in a notice lodged with ASIC in accordance
with paragraph (3)(b) is the FSR commencement, there is no
transition period in relation to the financial product or products to
which the notice relates.
(5) A notice (the first notice) lodged with ASIC in accordance with
paragraph (3)(b):
(a) may, by a further notice lodged with ASIC, be varied to
specify a different date (the new date), but only if:
(i) that further notice is lodged with ASIC at least 28 days
before the date specified in the first notice; and
(ii) the new date is at least 28 days after that further notice
is lodged with ASIC; and
(b) may, by a further notice lodged with ASIC, be revoked, but
only if that further notice is lodged with ASIC at least 28
days before the date specified in the first notice.
A date that was specified in a notice before its variation or
revocation in accordance with this subsection is to be disregarded
for the purposes of the other provisions of this section.
(6) If the issuer of a financial product lodges a notice with ASIC in
accordance with paragraph (3)(b) that covers the product, the issuer
must comply with any applicable requirements determined, by
legislative instrument, by ASIC for the purposes of this subsection
in relation to the following matters:
(a) informing people about the notice and its significance; and
(b) informing people about any subsequent variation or
revocation of the notice.
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Note: Failure to comply with this subsection is an offence (see
subsection 1311(1)).
(7) A determination by ASIC for the purposes of subsection (6):
(b) may cover all financial products or one or more classes of
financial products; and
(c) may make different provision in relation to different classes
of financial products.
(8) Subject to the regulations, ASIC must take reasonable steps to
ensure that, during the period of 2 years starting on the FSR
commencement, information is available:
(a) on the internet; and
(b) at offices of ASIC;
about notices that have been lodged in accordance with
paragraph (3)(b). The information must be updated to take account
of variations and revocations of such notices.
1439 Offences against new product disclosure provisions—
additional element for prosecution to prove if conduct
occurs after opting-in and before the end of the first 2
years
(1) If:
(a) conduct in relation to a financial product that would (apart
from this section) constitute an offence against, or based on,
any of the new product disclosure provisions occurred at a
time:
(i) during the period of 2 years starting on the FSR
commencement; and
(ii) after the date specified in a notice lodged in relation to
the product in accordance with paragraph 1438(3)(b);
and
(b) the new product disclosure provisions started to apply in
relation to the product from the date specified in the notice;
the conduct constitutes an offence against that provision only if (in
addition to the other elements of the offence), either:
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(c) the person knew that, or was reckless as to whether, the
product issuer had lodged a notice under that paragraph that
specified that date; or
(d) the person did not know that, and was not reckless as to
whether, the product issuer had lodged a notice under that
paragraph that specified that date, but the conduct would
have contravened the provisions referred to in section 1440
that would have applied to and in relation to the product if
those provisions had still applied when the conduct occurred.
(2) In this section:
conduct means an act, an omission to perform an act or a state of
affairs.
1440 Continued application of certain provisions of old disclosure
regimes during transition period
During the transition period (if any) for a financial product, the
following provisions continue to apply, despite their repeal or
amendment, to and in relation to the financial product:
(a) if the product is a managed investment product—all the
provisions of Chapter 6D of the old Corporations Act, other
than section 722 of that Act, and any associated provisions;
(b) if the product is a derivative—section 1210 of the old
Corporations Act, and any associated provisions;
(c) if the product is a superannuation product—the following
provisions, and any associated provisions:
(i) section 153, and all the provisions of Divisions 3 and 4
of Part 19, of the Superannuation Industry (Supervision)
Act 1993 as in force immediately before the FSR
commencement;
(ii) the section 153A of that Act that was provided for in
Modification Declaration no. 15 as in force immediately
before the FSR commencement, being a declaration of
modification made under section 332 of that Act;
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(d) if the product is an RSA product—section 51, and all the
provisions of Divisions 4 and 5 of Part 5, of the Retirement
Savings Accounts Act 1997 as in force immediately before
the FSR commencement, and any associated provisions;
(e) if the product is an insurance product—sections 71A and 73
of the Insurance Contracts Act 1984 as in force immediately
before the FSR commencement, and any associated
provisions.
1441 Certain persons who are not yet covered by Parts 7.6, 7.7 and
7.8 of the amended Corporations Act are required to
comply with Part 7.9 obligations as if they were regulated
persons
From the time from which the new product disclosure provisions
start to apply in relation to a particular financial product, the
following persons must comply with those provisions in relation to
that product, as if they were regulated persons as defined in
section 1011B of the amended Corporations Act, even though they
are not yet subject, or fully subject, to Parts 7.6, 7.7 and 7.8 of that
Act:
(a) a regulated principal;
(b) a representative (as defined in section 1436) of a regulated
principal; or
(c) an insurance agent (as defined in section 1436A).
1442 Exemptions and modifications by ASIC
(1) This section applies to the following provisions:
(a) the provisions of this Subdivision and any associated
provisions;
(b) the provisions that continue to apply because of section 1440.
(2) ASIC may:
(a) exempt a person or a class of persons, or a financial product
or class of financial products, from some or all of the
provisions to which this section applies; or
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(b) declare that some or all of the provisions to which this
section applies apply in relation to a person or a class of
persons, or a financial product or class of financial products,
as if the provisions were modified or varied as specified in
the declaration.
(3) A declaration under paragraph (2)(b) may provide for the
continued application (with or without modifications, and to the
exclusion of provisions of the amended Corporations Act) of
provisions referred to in paragraph (1)(b), even after the end of the
period of 2 years starting on the FSR commencement.
(4) An exemption may apply unconditionally or subject to specified
conditions. A person to whom a condition specified in an
exemption applies must comply with the condition. The Court may
order the person to comply with the condition in a specified way.
Only ASIC may apply to the Court for the order.
(5) An exemption or declaration must be in writing and ASIC must
publish notice of it in the Gazette.
(6) If conduct (including an omission) of a person would not constitute
an offence if a particular declaration under paragraph (2)(b) had
not been made, that conduct does not constitute an offence unless,
before the conduct occurred (in addition to complying with the
gazettal requirement of subsection (5)):
(a) the text of the declaration was made available by ASIC on
the internet; or
(b) ASIC gave written notice setting out the text of the
declaration to the person.
In a prosecution for an offence to which this subsection applies, the
prosecution must prove that paragraph (a) or (b) was complied with
before the conduct occurred.
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Subdivision F—Certain other product-related requirements
1442A Deferred application of hawking prohibition
(1) For the purposes of this section, the transition period is the period
starting on the FSR commencement and ending on whichever of
the following first occurs:
(a) the day fixed by Proclamation for the purposes of this
paragraph;
(b) the end of the period of 6 months starting on the FSR
commencement.
(2) Regulations made for the purposes of this section may provide for
specified provisions of legislation that is repealed by the Financial
Services Reform Act 2001 or the Financial Services Reform
(Consequential Provisions) Act 2001, being provisions that deal
with the same or a similar matter as that dealt with in section 992A
of the amended Corporations Act, to continue to apply (whether
with or without specified modifications) during the transition
period.
(3) During the transition period, section 992A of the amended
Corporations Act does not apply to any person, except to the extent
(if any) provided for in regulations made for the purposes of this
section.
1442B Deferred application of confirmation of transaction and
cooling-off provisions etc.
(1) This section applies to all financial products issued by a person,
other than financial products in a class of products that are first
issued by the person after the FSR commencement.
(2) For the purposes of this section, the transition period, in relation to
a financial product to which this section applies, is the period
starting on the FSR commencement and ending on whichever of
the following first occurs:
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(a) the day fixed by Proclamation for the purposes of this
paragraph;
(b) the end of the period of 6 months starting on the FSR
commencement;
(c) the new product disclosure provisions (within the meaning of
section 1438) start to apply in relation to the product.
(3) Subject to subsection (5), the following provisions (the preserved
provisions), to the extent they are relevant to a financial product to
which this section applies, continue to apply, despite their repeal,
in relation to the financial product during the transition period:
(a) Division 6 of Part 19 of the Superannuation Industry
(Supervision) Act 1993, and any associated provisions;
(b) Division 7 of Part 5 of the Retirement Savings Accounts Act
1997, and any associated provisions;
(c) sections 64 and 64A of the Insurance Contracts Act 1984,
and any associated provisions;
(d) any other provisions specified in regulations made for the
purposes of this paragraph, and any associated provisions in
relation to provisions so specified.
(4) Subject to subsection (5), during the transition period, the
following provisions (the deferred provisions) of the amended
Corporations Act do not apply in relation to a financial product to
which this section applies:
(a) section 1017F;
(b) sections 1019A and 1019B;
(c) any other provisions of Part 7.9 of the amended Corporations
Act that are not part of the new product disclosure provisions
(within the meaning of section 1438) and that are specified in
regulations made for the purposes of this paragraph.
(5) Regulations made for the purposes of this subsection may do either
or both of the following:
(a) provide that specified provisions of the preserved provisions
apply (with or without specified modifications), or do not
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apply, in relation to a financial product to which this section
applies;
(b) provide that specified provisions of the deferred provisions
apply (with or without specified modifications), or do not
apply, in relation to a financial product to which this section
applies.
The regulations may provide as mentioned in paragraph (a) or (b)
even after the end of the transition period.
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Division 2—Other transitional provisions
1443 Definitions
(1) In this Division:
amended Corporations Act has the same meaning as in Division 1.
class, in relation to financial products, has a meaning affected by
regulations made for the purposes of subsection (2).
FSR commencement has the same meaning as in Division 1.
law of the Commonwealth includes a reference to an instrument
made under such a law.
new legislation means relevant legislation as in force after the FSR
commencement.
old legislation means relevant legislation as in force immediately
before the FSR commencement.
relevant amendments means the amendments made by:
(a) the Financial Services Reform Act 2001; and
(b) the Financial Services Reform (Consequential Provisions)
Act 2001.
relevant legislation means the following legislation:
(a) this Act;
(b) the Acts that are amended by the relevant amendments;
(c) regulations or other instruments made under Acts covered by
paragraph (a) or (b);
(d) any other law of the Commonwealth, or instrument made
under a law of the Commonwealth, identified in regulations
made for the purposes of this paragraph.
(2) The regulations may include provisions identifying, or providing
for the identification of, what constitutes a class of financial
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products for the purposes of a provision or provisions of this
Division.
1444 Regulations may deal with transitional, saving or application
matters
(1) The regulations may deal with matters of a transitional, saving or
application nature relating to the relevant amendments and the
transition from the application of the old legislation to the
application of the new legislation. Regulations made for this
purpose may make such provision as is necessary to take account
of the fact that, because of Division 1, different provisions of the
amended Corporations Act start applying (and different provisions
of the old legislation stop applying) in relation to different people,
things and matters at different times.
(2) Regulations made for the purposes of this section are of no effect
to the extent that they are inconsistent with:
(a) a provision of Division 1; or
(b) a regulation or determination made under a provision of
Division 1, other than any such regulation or determination
(the other instrument) that is expressed to have effect subject
to anything in regulations made for the purposes of this
section (in which case, the other instrument is of no effect, to
the extent of the inconsistency).
(3) Without limiting subsection (1), the regulations may provide for a
matter to be dealt with, wholly or partly, in any of the following
ways:
(a) by applying (with or without modifications) to the matter:
(i) provisions of a law of the Commonwealth; or
(ii) provisions of a repealed or amended law of the
Commonwealth, in the form that those provisions took
before the repeal or amendment; or
(iii) a combination of provisions referred to in
subparagraphs (i) and (ii);
(b) by otherwise specifying rules for dealing with the matter;
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(c) by specifying a particular consequence of the matter, or of an
outcome of the matter, for the purposes of a law of the
Commonwealth.
(4) Without limiting subsections (1) and (3), the regulations may
provide for the continued effect after the FSR commencement, for
the purposes of the new legislation, of a thing done or instrument
made, or a class of things done or instruments made, before the
FSR commencement, under or for the purposes of the old
legislation. In the case of an instrument, or class of instruments, the
regulations may (either when providing for the continued effect of
the instrument or instruments or at a later time) provide for the
instrument or instruments, as continuing to have effect, to have
effect subject to modifications.
(5) Without limiting subsection (4), regulations made for the purposes
of that subsection may permit all or any of the following matters to
be determined in writing by a specified person, or by a person
included in a specified class of persons:
(a) the identification of a thing done or instrument made, or a
class of things done or instruments made, that is to continue
to have effect;
(b) the purpose for which a thing done or instrument made, or a
class of things done or instruments made, is to continue to
have effect;
(c) any modifications subject to which an instrument made, or a
class of instruments made, is to continue to have effect.
(6) Despite subsections 12(2) and (3) of the Legislative Instruments
Act 2003, regulations made for the purposes of this section:
(a) may be expressed to take effect from a date before the
regulations are registered under that Act; and
(b) may provide for a determination of a kind referred to in
subsection (5) to take effect from a date before the
determination is made (including a date before the
regulations are registered under that Act).
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(7) If a relevant amendment does not commence on the FSR
commencement, this section applies in relation to that amendment
as if references in the other provisions of this section, and in the
definitions in section 1443, to “the FSR commencement” were
instead references to the commencement of the relevant
amendment.
(8) In this section:
matters of a transitional, saving or application nature includes,
but is not limited to, matters related to any of the following:
(a) how a matter that arose or existed under the old legislation is
to be dealt with under the new legislation;
(b) the significance for the purposes of the new legislation of a
matter that arose or existed under the old legislation;
(c) how a process started but not completed under the old
legislation is to be dealt with;
(d) the preservation of concessions or exemptions (however
described) that existed under the old legislation;
(e) interpreting references to matters in terms of the new
legislation so as to include references to matters in terms of
the old legislation (including that legislation as it continues to
have effect because of provisions of Division 1), and vice
versa;
(f) any other matters that are prescribed by regulations made for
the purposes of this paragraph.
1445 ASIC determinations may deal with transitional, saving or
application matters
(1) ASIC may, by legislative instrument, make a determination dealing
with matters of a transitional, saving or application nature relating
to the relevant amendments and the transition from the application
of the old legislation to the application of the new legislation.
Determinations for this purpose may make such provision as is
necessary to take account of the fact that, because of Division 1,
different provisions of the amended Corporations Act start
applying (and different provisions of the old legislation stop
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applying) in relation to different people, things and matters at
different times.
(2) A determination overrides any inconsistent regulations made for
the purposes of section 1444, other than any such regulations that
are expressed to have effect despite anything in a determination
under this section (in which case, the determination is of no effect,
to the extent of the inconsistency).
(3) A determination is of no effect to the extent that it is inconsistent
with:
(a) a provision of Division 1; or
(b) a regulation or determination made under a provision of
Division 1, other than any such regulation or determination
(the other instrument) that is expressed to have effect subject
to anything in a determination under this section (in which
case, the other instrument is of no effect, to the extent of the
inconsistency).
(4) Without limiting subsection (1), a determination may provide for a
matter to be dealt with, wholly or partly, in any of the following
ways:
(a) by applying (with or without modifications) to the matter:
(i) provisions of a law of the Commonwealth; or
(ii) provisions of a repealed or amended law of the
Commonwealth, in the form that those provisions took
before the repeal or amendment; or
(iii) a combination of provisions referred to in
subparagraphs (i) and (ii);
(b) by otherwise specifying rules for dealing with the matter;
(c) by specifying a particular consequence of the matter, or of an
outcome of the matter, for the purposes of a law of the
Commonwealth.
(5) Without limiting subsections (1) and (4), a determination may
provide for the continued effect after the FSR commencement, for
the purposes of the new legislation, of a thing done or instrument
made, or a class of things done or instruments made, before the
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FSR commencement, under or for the purposes of the old
legislation. In the case of an instrument, or class of instruments, a
determination may (either when providing for the continued effect
of the instrument or instruments or at a later time) provide for the
instrument or instruments, as continuing to have effect, to have
effect subject to modifications.
(6) Without limiting subsection (5), a determination for the purposes
of that subsection may permit all or any of the following matters to
be determined in writing by a specified person, or by a person
included in a specified class of persons:
(a) the identification of a thing done or instrument made, or a
class of things done or instruments made, that is to continue
to have effect;
(b) the purpose for which a thing done or instrument made, or a
class of things done or instruments made, is to continue to
have effect;
(c) any modifications subject to which an instrument made, or a
class of instruments made, is to continue to have effect.
(7) If a relevant amendment does not commence on the FSR
commencement, this section applies in relation to that amendment
as if references in the other provisions of this section, and in the
definitions in section 1443, to “the FSR commencement” were
instead references to the commencement of the relevant
amendment.
(8) In this section:
matters of a transitional, saving or application nature includes,
but is not limited to, matters related to any of the following:
(a) how a matter that arose or existed under the old legislation is
to be dealt with under the new legislation;
(b) the significance for the purposes of the new legislation of a
matter that arose or existed under the old legislation;
(c) how a process started but not completed under the old
legislation is to be dealt with;
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(d) the preservation of concessions or exemptions (however
described) that existed under the old legislation;
(e) interpreting references to matters in terms of the new
legislation so as to include references to matters in terms of
the old legislation (including that legislation as it continues to
have effect because of provisions of Division 1), and vice
versa;
(f) any other matters that are prescribed by regulations made for
the purposes of this paragraph.
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2003
1447 Application of sections 601AB and 601PB
If a company or responsible entity had an obligation to lodge an
annual return before the commencement of items 31 and 36 of
Schedule 1 to the Corporations Legislation Amendment Act 2003,
sections 601AB and 601PB continue to apply to the annual return,
as if the amendments made by those items had not been made.
1448 Application of amendments made by Schedule 4 to the
Corporations Legislation Amendment Act 2003
If, at the time the amendments made by Schedule 4 to the
Corporations Legislation Amendment Act 2003 commence:
(a) a company is required to lodge a notice under a provision
amended by Schedule 4; and
(b) the time within which the company must lodge the notice has
not expired;
the amendments made by Schedule 4 apply to the company’s
requirement to lodge the notice.
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Section 1449
112 Corporations Act 2001
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Part 10.4—Transitional provisions relating to the
Financial Services Reform Amendment Act
2003
1449 Definition
In this Part:
amending Act means the Financial Services Reform Amendment
Act 2003.
1450 Application of Part 10.2 to Chapter 7 as amended by
Schedule 2 to the amending Act
(1) Subject to subsection (2), the provisions of Division 1 of Part 10.2
(including regulations and determinations made for the purposes of
that Division, and the powers given by that Division to deal with
matters in regulations and determinations) also apply to the
provisions of Chapter 7 as amended by Schedule 2 to the amending
Act.
Note: Division 1 of Part 10.2 deals with the phasing-in of the new financial
services regime.
(2) However, subsection (1) does not produce the result that a
provision of Chapter 7 as amended, added or inserted by an
amendment in Schedule 2 to the amending Act applies in relation
to a person, matter or circumstance:
(a) at a time that is before the commencement of the amendment;
or
(b) contrary to section 1451.
(3) The powers given by Division 2 of Part 10.2 to deal with matters in
regulations and determinations apply in relation to the provisions
of Chapter 7 as amended by Schedule 2 to the amending Act as if
the amendments in Schedule 2 to the amending Act were relevant
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amendments for the purposes of that Division. However (in
addition to subsections 1444(2) and 1445(3)) such regulations and
determinations are of no effect to the extent that they are
inconsistent with section 1451.
1451 Provisions relating to the scope of the amendments of
Chapter 7 made by Schedule 2
Application of amendments of section 916F
(1) The amendments made by items 37, 38 and 39 of Schedule 2 to the
amending Act do not apply to authorisations made before the
commencement of the amendment, unless the relevant 10 day
period for notification has not ended by the commencement of the
items.
(2) The amendment made by item 40 of Schedule 2 to the amending
Act applies to revocations made after the commencement of the
item.
Application of certain amendments of sections 952B and 953A
(2A) The amendments made by items 53A and 58A of Schedule 2 to the
amending Act apply in relation to the giving of Financial Services
Guides after the commencement of the items.
Application of amendments of section 981H
(3) The amendments made by items 62 and 63 of Schedule 2 to the
amending Act apply, after the commencement of those items, to
money paid to a person before that commencement as mentioned in
subsection 981H(1), even if an agreement referred to in
subsection 981H(2) was in force in relation to the money
immediately before that commencement.
Application of certain amendments of section 1016A
(3A) The amendments made by items 77A, 77B and 78C of Schedule 2
to the amending Act apply in relation to applications for financial
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products, and applications to become a standard employer-sponsor,
whether made before or after the commencement of the items.
Application of amendments of sections 1016B to 1016E
(3B) The amendments made by items 78D to 78T of Schedule 2 to the
amending Act apply in relation to Product Disclosure Statements
whether prepared or given before or after the commencement of
the items.
Application of amendment of section 1017D
(4) The amendment made by item 88 of Schedule 2 to the amending
Act does not apply to statements prepared before the
commencement of the item.
Application of amendments of section 1017E
(5) The amendments made by items 89 and 90 of Schedule 2 to the
amending Act apply, after the commencement of those items, to
money paid to a person before that commencement as mentioned in
subsection 1017E(1), even if an agreement referred to in
subsection 1017E(2B) was in force in relation to the money
immediately before that commencement.
Application of amendments of section 1020E
(6) The amendment made by item 91 of Schedule 2 to the amending
Act does not apply to disclosure documents or statements prepared
before the commencement of the item.
(7) The amendments made by items 91A, 91B and 91C of Schedule 2
to the amending Act apply to disclosure documents or statements,
and to advertisements or statements of a kind referred to in
subsection 1018A(1) or (2), whether prepared, given or published
before or after the commencement of the items.
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Application of certain amendments of sections 1021B and 1022A
(8) The amendments made by items 95F and 96K of Schedule 2 to the
amending Act apply in relation to the giving of Product Disclosure
Statements after the commencement of the items.
1452 Amendments of section 1274
(1) The amendment made by item 101 of Schedule 2 to the amending
Act applies to documents even if they were lodged before the
commencement of the item.
(2) The amendment made by item 102 of Schedule 2 to the amending
Act removes a reference to a repealed provision. However, the
amendment does not produce the result that a document that was
lodged under that provision when it was in force now becomes
available for inspection under section 1274.
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Section 1453
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Part 10.5—Transitional provisions relating to the
Corporate Law Economic Reform
Program (Audit Reform and Corporate
Disclosure) Act 2004
1453 Definitions
In this Part:
amending Act means the Corporate Law Economic Reform
Program (Audit Reform and Corporate Disclosure) Act 2004.
old Act means this Act as in force immediately before the
commencement day.
Schedule 1 commencement means the day on which Schedule 1 to
the Corporate Law Economic Reform Program (Audit Reform and
Corporate Disclosure) Act 2004 commences.
Schedule 4 commencement means the day on which Schedule 4 to
the Corporate Law Economic Reform Program (Audit Reform and
Corporate Disclosure) Act 2004 commences.
Schedule 5 commencement means the day on which Schedule 5 to
the Corporate Law Economic Reform Program (Audit Reform and
Corporate Disclosure) Act 2004 commences.
Schedule 8 commencement means the day on which Schedule 8 to
the Corporate Law Economic Reform Program (Audit Reform and
Corporate Disclosure) Act 2004 commences.
1454 Audit reforms in Schedule 1 to the amending Act (auditing
standards and audit working papers retention rules)
Sections 307A, 307B and 989CA apply to:
(a) an audit of the financial report for a financial year; or
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(b) an audit or review of the financial report for a half-year in a
financial year;
if the financial year begins on or after 1 July 2004.
1455 Audit reforms in Schedule 1 to the amending Act (adoption of
auditing standards made by accounting profession before
commencement)
(1) The regulations may provide that a standard specified in the
regulations (as in force from time to time) is to have effect, for the
purposes of this Act, as if it had been made by the AUASB under
section 336 on the day specified in the regulations.
(2) The standard must be one made or issued by the Australian
Accounting Research Foundation before the Schedule 1
commencement on behalf of CPA Australia and The Institute of
Chartered Accountants in Australia.
(3) The regulations may provide that the standard is to have effect as if
it specified that it applies to periods ending, or starting, on or after
a date specified in the standard.
(4) Standards prescribed under subsection (1) do not have effect as
auditing standards:
(a) in relation to financial reports for periods ending after
30 June 2006; or
(b) in relation to financial reports for periods ending after a later
date specified by regulations made for the purposes of
subsection (1) before 30 June 2006.
(5) A person does not commit an offence based on a contravention of
section 307A, subsection 308(3A) or 309(5A) or section 989CA
because an audit or review is not conducted in accordance with, or
does not include a statement or disclosure required by, an auditing
standard prescribed under subsection (1) if the audit or review is
conducted in relation to a financial report for a period ending
before that standard ceases to have effect as an auditing standard.
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Note: This subsection does not prevent, however, other action being taken
on the basis of the failure to comply with the auditing standard (for
example, the person’s failure to comply with the standard being
referred to the Companies Auditors and Liquidators Disciplinary
Board).
1456 Audit reforms in Schedule 1 to the amending Act (new
competency standard provisions)
If an application by a person for registration as a registered
company auditor:
(a) is lodged with ASIC before the Schedule 1 commencement;
and
(b) has not been determined before that day;
section 1280 of the old Act continues to apply to the application
despite the amendments made by the amending Act.
1457 Audit reforms in Schedule 1 to the amending Act (new annual
statement requirements for auditors)
(1) The requirement under section 1287A for a registered company
auditor to lodge an annual statement applies from the first
anniversary of the auditor’s registration that occurs on or after
1 January 2005.
(2) The first annual statement lodged under section 1287A should
cover the period commencing either:
(a) immediately after the period covered by the last triennial
statement; or
(b) the day on which the auditor was registered;
whichever is later, and ending on the first anniversary of
registration occurring on or after 1 January 2005.
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1458 Audit reforms in Schedule 1 to the amending Act (imposition
of conditions on existing registration as company auditor)
ASIC may impose conditions on a person’s registration as a
company auditor under section 1289A even if the registration took
effect before the Schedule 1 commencement.
1459 Audit reforms in Schedule 1 to the amending Act (application
of items 62 and 63)
The amendments made by items 62 and 63 of Schedule 1 to the
amending Act apply to periods that start on or after 1 January
2005.
1460 Audit reforms in Schedule 1 to the amending Act (non-audit
services disclosure)
Subsections 300(11B) to (11E) apply to an audit of the financial
report for a financial year if the financial year begins on or after
1 July 2004.
1461 Audit reforms in Schedule 1 to the amending Act (auditor
appointment)
(1) Section 324AC applies to all appointments of firms as auditor
(including an appointment that was made before the Schedule 1
commencement).
(2) The appointment of a person as auditor of a company or registered
scheme made before the Schedule 1 commencement under
section 327 or 331AB of the old Act remains valid and effective
despite the repeal of that section.
(3) An approval by ASIC that is in force under subsection 324(12) of
the old Act immediately before the Schedule 1 commencement has
effect on and after the Schedule 1 commencement as if it had been
given under section 324B.
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Section 1462
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1462 Audit reforms in Schedule 1 to the amending Act (auditor
independence)
(1) Section 307C applies to a financial report for financial years that
start on or after 1 July 2004.
(2) Division 3 of Part 2M.4 applies to:
(a) an audit of the financial report for a financial year; or
(b) an audit or review of the financial report for a half-year in a
financial year;
if the financial year begins on or after 1 July 2004.
(2A) The following provisions of the old Act continue to apply to an
audit of the financial report for a financial year, or an audit or
review of the financial report for a half-year in a financial year, if
the financial year begins before 1 July 2004:
(a) subsections 324(1) to (6) (inclusive) (other than paragraphs
324(1)(d) and (2)(d) and (e));
(b) subsection 324(11);
(c) subsection 327(4);
(d) section 331AA (other than paragraphs 331AA(1)(d) and
(2)(d) and (e)).
Subsection 331AA(4) of the old Act continues to apply as if the
references in that subsection to subsections 324(7), (8), (9), (10)
and (16) were omitted.
(3) Division 3 of Part 2M.4 applies to all relationships that exist on or
after the Schedule 1 commencement between an auditor and an
audited body (including a relationship that exists because of
circumstances that came into existence before the Schedule 1
commencement).
(4) Without limiting subsection (3), the items in the table in
subsection 324CH(1) apply to circumstances that exist on or after
the Schedule 1 commencement (including circumstances that exist
because of events that occurred before the Schedule 1
commencement).
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(5) Item 9 of the table in subsection 324CE(5) applies to a person who
ceases to be a professional employee of the individual auditor
concerned on or after the Schedule 1 commencement.
(6) Item 10 of the table in subsection 324CE(5) applies to a person
who ceases to own the business of the individual auditor concerned
on or after the Schedule 1 commencement.
(7) Item 11 of the table in subsection 324CF(5) applies to a person
who ceases to be a member of the audit firm concerned on or after
the Schedule 1 commencement.
(8) Item 12 of the table in subsection 324CF(5) applies to a person
who ceases to be a professional employee of the auditor firm
concerned on or after the Schedule 1 commencement.
(9) Item 11 of the table in subsection 324CG(9) applies to a person
who ceases to be an officer of the audit company concerned on or
after the Schedule 1 commencement.
(10) Item 12 of the table in subsection 324CG(9) applies to a person
who ceases to be a professional employee of the audit company
concerned on or after the Schedule 1 commencement.
(11) Section 324CI applies only if the relevant departure time for the
purposes of that section occurs on or after the Schedule 1
commencement.
(12) Section 324CJ applies only if the relevant departure time for the
purposes of that section occurs on or after the Schedule 1
commencement.
(13) Section 324CK applies to a person only if:
(a) the person is on the Schedule 1 commencement, or becomes
after the Schedule 1 commencement, a member of the audit
firm concerned or a director of the audit company concerned;
and
(b) becomes an officer of the audited body concerned on or after
the Schedule 1 commencement.
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Part 10.5 Transitional provisions relating to the Corporate Law Economic Reform
Program (Audit Reform and Corporate Disclosure) Act 2004
Section 1463
122 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1463 Audit reforms in Schedule 1 to the amending Act (auditor
rotation)
Division 5 of Part 2M.4 applies to:
(a) an audit of the financial report for a financial year; or
(b) an audit or review of the financial report for a half-year in a
financial year;
if the financial year begins on or after 1 July 2006.
1464 Audit reforms in Schedule 1 to the amending Act (listed
company AGMs)
The amendments made by Part 5 of Schedule 1 to the amending
Act apply to AGMs at which financial reports for financial years
that commence on or after 1 July 2004 are considered.
1465 Schedule 2 to the amending Act (financial reporting)
(1) The amendments made by Part 1 of Schedule 2 to the amending
Act apply to directors’ declarations in relation to financial reports
for financial years that start on or after 1 July 2004.
(2) The amendments made by Part 2 of Schedule 2 to the amending
Act apply to directors’ reports for financial years that start on or
after 1 July 2004.
(3) The amendments made by Part 3 of Schedule 2 apply to financial
reports lodged with ASIC on or after 1 January 2004.
1466A Schedule 2A to the amending Act (true and fair view)
The amendments made by Schedule 2A to the amending Act apply
to directors’ reports for periods that start on or after 1 July 2004.
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Transitional provisions relating to the Corporate Law Economic Reform Program
(Audit Reform and Corporate Disclosure) Act 2004 Part 10.5
Section 1466
Corporations Act 2001 123
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1466 Schedule 3 to the amending Act (proportionate liability)
The amendments made to this Act and the Trade Practices Act
1974 by Schedule 3 to the amending Act apply to causes of action
that arise on or after the day on which that Schedule commences.
1467 Schedule 4 to the amending Act (enforcement)
(1) The amendments made by Part 2 of Schedule 4 apply to all
disclosures made on or after the day on which this Act receives the
Royal Assent (including a disclosure of information about
circumstances that arose before that day).
(2) Section 206BA applies to disqualifications from managing
corporations that occur because of convictions on or after the
Schedule 4 commencement.
(3) The amendments made by Part 4 of Schedule 4 to the amending
Act apply in relation to a contravention of a financial services civil
penalty provision that occurs on or after the day on which this Act
receives the Royal Assent.
1468 Schedule 5 to the amending Act (remuneration of directors and
executives)
(1) Subject to subsections (2) and (3), the amendments made by
Schedule 5 to the amending Act apply to financial years
commencing on or after 1 July 2004.
(2) The amendments made by items 4, 4A and 5 of Schedule 5 to the
amending Act apply to an agreement only if the agreement is
entered into on or after the Schedule 5 commencement.
(3) The amendments made by items 6, 7 and 8 of Schedule 5 to the
amending Act apply to remuneration reports for financial years that
start on or after 1 July 2004.
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Part 10.5 Transitional provisions relating to the Corporate Law Economic Reform
Program (Audit Reform and Corporate Disclosure) Act 2004
Section 1469
124 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1469 Schedule 6 to the amending Act (continuous disclosure)
(1) The amendments made by Part 1 of Schedule 6 to the amending
Act apply in relation to a contravention of subsection 674(2) or
675(2) that occurs on or after the day on which this Act receives
the Royal Assent.
(2) The amendments made by Part 2 of Schedule 6 to the amending
Act apply in relation to a failure by a disclosing entity to comply
with subsection 674(2) or 675(2) that occurs on or after the day on
which this Act receives the Royal Assent.
1470 Schedule 7 to the amending Act (disclosure rules)
(1) The amendments made by Part 1 of Schedule 7 to the amending
Act apply to a disclosure document for an offer of securities if the
disclosure document is lodged with ASIC on or after the day on
which this Act receives the Royal Assent.
(2) The amendments made by Part 2 of Schedule 7 to the amending
Act apply to a Product Disclosure Statement that is required to be
given on or after the day on which this Act receives the Royal
Assent.
(3) The amendment made by items 10 and 11 of Schedule 7 to the
amending Act applies to an offer of debentures that is made on or
after the day on which this Act receives the Royal Assent.
(4) Section 708A applies to an offer of securities for sale that is made
on or after the day on which this Act receives the Royal Assent.
(5) Section 1012DA applies to:
(a) a recommendation situation if the relevant conduct (within
the meaning of subsection 1012A(2)); and
(b) a sale situation if the relevant conduct (within the meaning of
subsection 1012C(2));
occurs on or after the day on which this Act receives the Royal
Assent.
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(Audit Reform and Corporate Disclosure) Act 2004 Part 10.5
Section 1471
Corporations Act 2001 125
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1471 Schedule 8 to the amending Act (shareholder participation and
information)
(1) The amendments made by items 1 to 6, 13 and 17 of Schedule 8 to
the amending Act apply to a notice of a meeting of a company’s
members that is given after 30 September 2004.
(2) The amendments made by items 7 to 12 and 14 of Schedule 8 to
the amending Act apply to an appointment of a proxy that is made
on or after the Schedule 8 commencement.
(2A) The amendment made by item 14A of Schedule 8 to the amending
Act applies to reports for financial years that start on or after 1 July
2004.
(3) The amendment made by item 15 of Schedule 8 to the amending
Act applies to a directors’ report for a financial year that starts on
or after 1 July 2004.
(4) The amendment made by item 16 of Schedule 8 to the amending
Act applies to a report referred to in subsection 314(1) for a
financial year that starts on or after 1 July 2004.
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Chapter 10 Transitional provisions
Part 10.8 Transitional provisions relating to the Corporations Amendment (Takeovers)
Act 2007
Section 1478
126 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 10.8—Transitional provisions relating to the
Corporations Amendment (Takeovers) Act
2007
1478 Application of amendments of the takeovers provisions
(1) The amendments made by Schedule 1 to the Corporations
Amendment (Takeovers) Act 2007 apply in relation to an
application under section 657C (including any review under
section 657EA of the decision made on the application) if:
(a) the application under section 657C is made on or after the
commencement of that Schedule; or
(b) the application under section 657C was made before the
commencement of that Schedule but the Panel has not finally
disposed of the application before the commencement of that
Schedule.
For the purposes of paragraph (b), the Panel does not finally
dispose of an application under section 657C until the Panel has
disposed of any review under section 657EA of the decision made
on the application.
(2) To avoid doubt, the amendments apply in relation to the
application even if the circumstances to which the application
relates arose before the commencement of Schedule 1 to the
Corporations Amendment (Takeovers) Act 2007.
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Transitional provisions relating to the Corporations Amendment (Insolvency) Act 2007
Part 10.9
Section 1479
Corporations Act 2001 127
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Part 10.9—Transitional provisions relating to the
Corporations Amendment (Insolvency) Act
2007
1479 Definition
In this Part:
amending Act means the Corporations Amendment (Insolvency)
Act 2007.
1480 Schedule 1 to the amending Act (improving outcomes for
creditors)
(1) The amendment made by item 4 of Schedule 1 to the amending
Act, in so far as it relates to a company subject to a deed of
company arrangement, applies if the administration that ended on
the execution of the deed began on or after the day on which that
item commences.
(2) The amendments made by items 5 to 9 of Schedule 1 to the
amending Act, in so far as they relate to the winding up of a
company, apply if the relevant date is on or after the day on which
those items commence.
(3) The amendments made by items 6 to 9 of Schedule 1 to the
amending Act, in so far as they relate to a company subject to a
deed of company arrangement, apply if the administration that
ended on the execution of the deed began on or after the day on
which those items commence.
(4) The amendments made by items 6 to 9 of Schedule 1 to the
amending Act, in so far as they relate to a company to which
section 433 applies, apply if the relevant date (within the meaning
of that section) is on or after the day on which those items
commence.
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Part 10.9 Transitional provisions relating to the Corporations Amendment (Insolvency)
Act 2007
Section 1480
128 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(5) The amendment made by item 20 of Schedule 1 to the amending
Act applies in relation to a receiver appointed on or after the day
on which that item commences.
(6) The amendments made by items 21, 24, 25, 26 and 28 of
Schedule 1 to the amending Act apply to the administrator of a
company if the administrator is appointed on or after the day on
which those items commence.
(7) The amendments made by items 30, 31, 32, 33, 35, 36, 37, 38, 39
and 40 of Schedule 1 to the amending Act apply in relation to the
liquidator of a company if the winding up of the company begins
on or after the day on which those items commence.
(8) The amendment made by item 52 of Schedule 1 to the amending
Act applies in relation to a compromise or arrangement if an
application relating to the compromise or arrangement was made
under subsection 411(1) on or after the day on which that item
commences.
(9) The amendments made by items 53, 54, 55, 56 and 57 of
Schedule 1 to the amending Act do not apply in relation to an
account opened before the day on which that item commences.
(10) The amendments made by items 59, 60, 61, 62 and 64 of
Schedule 1 to the amending Act apply in relation to a managing
controller of property of a corporation if:
(a) the managing controller is appointed on or after the day on
which those items commence; or
(b) the managing controller enters into possession, or takes
control, of property of the corporation on or after the day on
which those items commence.
(11) Despite the amendments made by items 65 and 66 of Schedule 1 to
the amending Act:
(a) subsection 427(1) continues to apply, in relation to an order
obtained, or an appointment made, before the day on which
those items commence, as if those amendments had not been
made; and
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(b) subsection 427(1A) continues to apply, in relation to an
appointment made before the day on which those items
commence, as if those amendments had not been made; and
(c) subsection 427(1B) continues to apply, in relation to an entry
into possession, or a taking of control, before the day on
which those items commence, as if those amendments had
not been made; and
(d) subsection 427(4) continues to apply, in relation to a
cessation before the day on which those items commence, as
if those amendments had not been made.
(12) The amendments made by items 70, 71 and 72 of Schedule 1 to the
amending Act, in so far as they relate to a company under
administration, apply if the administration begins on or after the
day on which those items commence.
(13) The amendment made by item 75 of Schedule 1 to the amending
Act applies to a meeting if the meeting is convened on or after the
day on which that item commences.
(14) The amendments made by items 87, 88, 92, 93 and 94 of
Schedule 1 to the amending Act apply to a transfer or alteration
that occurs on or after the day on which those items commence.
(15) The amendments made by items 91, 96, 97, 98, 99, 100, 102, 103,
104, 105, 106, 107, 108, 109, 110, 111 and 112 of Schedule 1 to
the amending Act apply in relation to a winding up of a company if
the winding up begins on or after the day on which those items
commence.
(16) Despite the repeal of subsection 506(4) by item 113 of Schedule 1
to the amending Act, that subsection continues to apply, in relation
to the liquidators of a company where the winding up of the
company began before the day on which that item commences, as
if that repeal had not happened.
(17) Sections 434D, 434E, 434F and 434G apply in relation to persons
appointed on or after the day on which those sections commence.
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Part 10.9 Transitional provisions relating to the Corporations Amendment (Insolvency)
Act 2007
Section 1481
130 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(18) Section 530 applies in relation to the liquidators of a company if
the winding up of the company begins on or after the day on which
that section commences.
(19) Section 530AA applies to persons appointed on or after the day on
which that section commences.
(20) Subsections 571(1) and 579E(1) of the amended Act apply in
relation to a group of 2 or more companies if the winding up of
each company in the group begins on or after the day on which
those subsections commence.
1481 Schedule 2 to the amending Act (deterring corporate
misconduct)
(1) The amendment made by item 2 of Schedule 2 to the amending Act
applies in relation to a compromise or arrangement if an
application relating to the compromise or arrangement was made
under subsection 411(1) on or after the day on which that item
commences.
(2) The amendment made by item 11 of Schedule 2 to the amending
Act applies in relation to a matter that appears to a person:
(a) during the 6-month period ending when that item
commences; or
(b) on or after the day on which that item commences;
where the relevant date is on or after the day on which that item
commences.
(3) Section 489A applies in relation to a section 486B warrant if the
warrant is issued on or after the day on which that section
commences.
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Part 10.9
Section 1482
Corporations Act 2001 131
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1482 Schedule 3 to the amending Act (improving regulation of
insolvency practitioners)
(1) The amendment made by item 7 of Schedule 3 to the amending Act
applies to an application for registration if the application was
made on or after the day on which that item commences.
(2) Despite the amendment made by item 9 of Schedule 3 to the
amending Act, subsection 1288(3) continues to apply, in relation to
a 3-year period ending before the day on which that item
commences, as if that amendment had not been made.
(3) Subsection 1288(3) as amended by item 9 of Schedule 3 to the
amending Act applies as follows:
(a) in the case of a person whose first 12 months of registration
ends on or after the day on which that item commences—that
subsection applies in relation to:
(i) the person’s first 12 months of registration; and
(ii) each subsequent period of 12 months;
(b) in the case of a person whose first 12 months of registration
ended before the day on which that item commences—that
subsection applies as if the reference in paragraph 1288(3)(a)
to the day on which the person’s registration begins (the
initial registration day) were a reference to the last
anniversary of the initial registration day that occurred before
the day on which that item commences.
For this purpose, a person’s first 12 months of registration is the
period of 12 months beginning on the day on which the person’s
registration begins.
(4) The amendment made by item 12 of Schedule 3 to the amending
Act applies in relation to a decision made on or after the day on
which that item commences.
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Part 10.9 Transitional provisions relating to the Corporations Amendment (Insolvency)
Act 2007
Section 1483
132 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1483 Schedule 4 to the amending Act (fine-tuning voluntary
administration)
(1) The amendments made by items 1, 5, 6, 7, 9, 10, 11, 12, 13, 14, 15,
16, 17, 18, 19, 20, 21, 22, 39, 40, 45, 49, 51, 52, 53, 54, 55, 56, 57,
59, 60, 61 and 62 of Schedule 4 to the amending Act, in so far as
they relate to a company under administration, apply if the
administration begins on or after the day on which those items
commence.
(2) The amendments made by items 2, 3 and 4 of Schedule 4 to the
amending Act apply to an appointment of an administrator if the
appointment is made on or after the day on which those items
commence.
(3) The amendment made by item 8 of Schedule 4 to the amending Act
applies to a transfer or alteration that occurs on or after the day on
which that item commences.
(4) The amendments made by items 23, 24, 25, 26 and 28 of
Schedule 4 to the amending Act, in so far as they apply to a
company that is, or is proposed to be, subject to a deed of company
arrangement, apply if the administration that ends, or is to end, on
the execution of the deed, began on or after the day on which those
items commence.
(5) The amendments made by items 27, 29, 30, 31, 32, 33, 34, 35, 36,
39, 40, 43, 44, 46, 55, 56 and 57 of Schedule 4 to the amending
Act, in so far as they relate to a company subject to a deed of
company arrangement, apply if the administration that ended on
the execution of the deed began on or after the day on which those
items commence.
(6) Items 37 and 38 of Schedule 4 to the amending Act apply in
relation to a company if the winding up of the company begins on
or after the day on which those items commence.
(7) The amendments made by items 41 and 42 of Schedule 4 to the
amending Act apply in relation to a company subject to a deed
arrangement if the administration that ended on the execution of
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Part 10.9
Section 1483
Corporations Act 2001 133
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the deed began on or after the day on which those items
commence.
(8) The amendments made by items 63, 65, 66, 67, 69 and 70 of
Schedule 4 to the amending Act, in so far as they relate to the
winding up of a company, apply if the relevant date is on or after
the day on which those items commence.
(9) Section 440BA, in so far as it relates to a company under
administration, applies if the administration begins on or after the
day on which that section commences.
Note: Section 440BA was repealed by the Personal Property Securities
(Corporations and Other Amendments) Act 2010, and was replaced
with a new section 440B incorporating the same substantive rules.
Section 1507 preserves the operation of this subsection.
(10) Section 440BB does not apply to distress for rent that began to be
carried out before the day on which that section commences.
Note: Section 440BB was repealed by the Personal Property Securities
(Corporations and Other Amendments) Act 2010, and was replaced
with a new section 440B incorporating the same substantive rules.
Section 1507 preserves the operation of this subsection.
(11) Subsections 442C(7) and (8), in so far as they relate to a company
under administration, apply if the administration begins on or after
the day on which those subsections commence.
(12) Subsections 442C(7) and (8), in so far as they relate to a company
subject to a deed of company arrangement, apply if the
administration that ended on the execution of the deed began on or
after the day on which those subsections commence.
(13) Section 446C applies in relation to a company as follows:
(a) if the company was under administration immediately before
the liquidation time referred to in that section—the
administration begins on or after the day on which that
section commences;
(b) if the company was subject to a deed of company
arrangement immediately before the liquidation time referred
to in that section—the administration that ended on the
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Part 10.9 Transitional provisions relating to the Corporations Amendment (Insolvency)
Act 2007
Section 1483
134 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
execution of the deed began on or after the day on which that
section commences.
(14) Subsection 588FE(2A) applies in relation to a company if the
administration referred to paragraph 588FE(2A)(b) begins on or
after the day on which that subsection commences.
(15) Subsection 588FE(2B) applies in relation to a company if the
administration that ended on the execution of the deed of company
arrangement referred to in paragraph 588FE(2B)(b) began on or
after the day on which that subsection commences.
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Transitional provisions relating to the Corporations Amendment (Short Selling) Act
2008 Part 10.10
Section 1484
Corporations Act 2001 135
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 10.10 Transitional provisions relating to the
Corporations Amendment (Short Selling)
Act 2008
1484 Declarations under paragraph 1020F(1)(c) relating to short
selling
(1) To avoid doubt, an instrument mentioned in subsection (2) that was
made at a particular time was validly made under
paragraph 1020F(1)(c) at that time.
(2) The instruments are as follows:
(a) ASIC Class Order [CO 08/751], registered on the Federal
Register of Legislative Instruments on 22 September 2008;
(b) ASIC Class Order [CO 08/752], registered on the Federal
Register of Legislative Instruments on 22 September 2008;
(c) ASIC Class Order [CO 08/753], registered on the Federal
Register of Legislative Instruments on 22 September 2008;
(d) ASIC Class Order [CO 08/763], registered on the Federal
Register of Legislative Instruments on 23 September 2008;
(e) ASIC Class Order [CO 08/801], registered on the Federal
Register of Legislative Instruments on 24 October 2008.
(3) To avoid doubt, an instrument (if any) that:
(a) was made at a time:
(i) after 24 October 2008; and
(ii) before the commencement of this section; and
(b) is of substantially the same nature as the instruments
mentioned in subsection (2); and
(c) was registered on the Federal Register of Legislative
Instruments:
(i) after 24 October 2008; and
(ii) before the commencement of this section;
was validly made under paragraph 1020F(1)(c) at that time.
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Chapter 10 Transitional provisions
Part 10.10 Transitional provisions relating to the Corporations Amendment (Short
Selling) Act 2008
Section 1484
136 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(4) This section applies on and after 19 September 2008.
(5) In this section:
Federal Register of Legislative Instruments means the Federal
Register of Legislative Instruments established under the
Legislative Instruments Act 2003.
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10.11
Section 1485
Corporations Act 2001 137
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 10.11—Transitional provisions relating to the
Corporations Amendment (No. 1) Act 2009
1485 Application of new subsection 206B(6)
The amendments made by item 2 of Schedule 1 to the
Corporations Amendment (No. 1) Act 2009 apply to an order made
by a court of a foreign jurisdiction on or after the commencement
of that item.
1486 Application of new section 206EAA
The amendments made by item 3 of Schedule 1 to the
Corporations Amendment (No. 1) Act 2009 apply to a
disqualification under a law of a foreign jurisdiction that arises on
or after the commencement of that item.
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Chapter 10 Transitional provisions
Part 10.12 Transitional provisions relating to the Corporations Legislation Amendment
(Financial Services Modernisation) Act 2009
Division 1 Transitional provisions relating to Schedule 1 to the Corporations
Legislation Amendment (Financial Services Modernisation) Act 2009
Section 1487
138 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 10.12—Transitional provisions relating to the
Corporations Legislation Amendment
(Financial Services Modernisation) Act
2009
Division 1—Transitional provisions relating to Schedule 1
to the Corporations Legislation Amendment
(Financial Services Modernisation) Act 2009
1487 Definitions
(1) In this Division:
amended Corporations Act means this Act as in force after
commencement.
amending Schedule means Schedule 1 to the Corporations
Legislation Amendment (Financial Services Modernisation) Act
2009.
commencement means the day on which the amending Schedule
commences.
margin lending financial service has the meaning given by
subsection 1488(2).
(2) Terms that are used in this Division and that are defined in
Division 2 of Part 7.1 have the same meanings as they are given by
that Division.
1488 Application of amendments—general
(1) The amendments made by the amending Schedule apply in relation
to a margin lending financial service that is provided on or after the
day that is 12 months after commencement.
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(2) A margin lending financial service is:
(a) a dealing in a margin lending facility that was issued after
commencement; or
(b) the provision of financial product advice in relation to a
margin lending facility that was issued after commencement.
1489 Applications of amendments—application for and grant of
licences etc. authorising margin lending financial services
(1) Despite section 1488, during the period that:
(a) starts at the start of the day that is one month after
commencement; and
(b) ends at the end of the day before the day that is 12 months
after commencement;
subsections (2) and (3) apply.
(2) A person may:
(a) apply under section 913A of the amended Corporations Act
for an Australian financial services licence that authorises the
person to provide a margin lending financial service; and
(b) apply under section 914A of the amended Corporations Act
for a variation of a condition of an Australian financial
services licence to authorise the person to provide a margin
lending financial service.
(3) ASIC may:
(a) grant an Australian financial services licence to a person
under section 913B of the amended Corporations Act that
authorises the person to provide a margin lending financial
service, and otherwise deal with that licence (for example, by
suspending or cancelling it) under Chapter 7; and
(b) impose or vary conditions on an Australian financial services
licence under section 914A of the amended Corporations Act
to authorise a person to provide a margin lending financial
service, and otherwise deal with those conditions (for
example, by revoking or varying them) under Chapter 7;
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Section 1490
140 Corporations Act 2001
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but the Australian financial services licence, condition, or variation
of a condition, does not take effect until the day that is 12 months
after commencement.
1490 Application of amendments—between 6 and 12 months after
commencement
(1) Despite section 1488, the amendments made by the amending
Schedule apply in relation to a margin lending financial service
that is provided during the period that:
(a) starts at the start of the day that is 6 months after
commencement; and
(b) ends at the end of the day before the day that is 12 months
after commencement;
but only if, at the time the margin lending financial service is
provided, subsection (2) or (3) applies to:
(c) the person who provides the margin lending financial service;
and
(d) if the margin lending financial service is provided on behalf
of another person—the person on whose behalf the margin
lending financial service is provided.
(2) This subsection applies to a person if the person is an Australian
financial services licensee and either:
(a) has not applied for a condition of the licence to be varied to
authorise the person to provide the margin lending financial
service; or
(b) has applied for a condition of the licence to be varied to
authorise the person to provide the margin lending financial
service, but has been notified by ASIC that the application
has been refused.
(3) This subsection applies to a person if the person is not an
Australian financial services licensee and either:
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Section 1491
Corporations Act 2001 141
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(a) has not applied for an Australian financial services licence
that authorises the person to provide the margin lending
financial service; or
(b) has applied for an Australian financial services licence that
authorises the person to provide the margin lending financial
service, but has been notified by ASIC that the application
has been refused.
1491 Acquisition of property
(1) Despite section 1350, a provision of this Division does not apply,
and is taken never to have applied, to the extent that the operation
of the provision would result in an acquisition of property from a
person otherwise than on just terms.
(2) In subsection (1), acquisition of property and just terms have the
same meanings as in paragraph 51(xxxi) of the Constitution.
1492 Regulations
(1) The regulations may make provisions of a transitional, application
or saving nature relating to this Division and the amendments and
repeals made by the amending Schedule.
(2) Without limiting subsection (1), regulations made for the purpose
of that subsection may modify provisions of this Act.
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Division 2 Transitional provisions relating to Schedule 2 to the Corporations
Legislation Amendment (Financial Services Modernisation) Act 2009
Section 1493
142 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 2—Transitional provisions relating to Schedule 2
to the Corporations Legislation Amendment
(Financial Services Modernisation) Act 2009
1493 Definitions
In this Division:
amending Schedule means Schedule 2 to the Corporations
Legislation Amendment (Financial Services Modernisation) Act
2009.
commencement means the commencement of the amending
Schedule.
modify includes make additions, omissions and substitutions.
1494 Transitional provisions relating to limit on control of trustee
companies
(1) This section applies in relation to a person and a trustee company
if, immediately before the commencement of Part 5D.5, the
percentage (the pre-commencement percentage) of the person’s
voting power in the trustee company exceeded 15%.
(2) Subject to subsection (3), Part 5D.5 applies in relation to the
person and the trustee company as if paragraph 601VAA(a)
specified the pre-commencement percentage (rather than 15%).
(3) If, after the commencement of Part 5D.5, the percentage of the
person’s voting power in the trustee company is reduced, the
following provisions have effect from the time of the reduction:
(a) if the reduced percentage exceeds 15%—Part 5D.5 applies in
relation to the person and the trustee company as if
paragraph 601VAA(a) specified the reduced percentage
(rather than 15%);
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Section 1495
Corporations Act 2001 143
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(b) if the reduced percentage is 15% or less—this section ceases
to apply, and never again applies, in relation to the person
and the trustee company.
1495 Transitional provisions relating to the amendments of
Chapter 7
(1) This section applies to each company:
(a) that is a trustee company immediately after the
commencement of the first regulations made for the purpose
of paragraph 601RAB(1)(b); and
(b) that, at that time, holds an Australian financial services
licence.
(2) During the period of 6 months starting on the commencement of
those regulations:
(a) the company’s Australian financial services licence is taken
to cover the provision by the company of traditional trustee
company services; and
(b) section 601TAB does not apply in relation to the company;
and
(c) Part 7.7 does not apply in relation to traditional trustee
company services provided by the company.
Note: If the company wants to continue to provide traditional trustee
company services after the end of the 6 month period, it will (before
the end of that period) need to apply to ASIC to have the conditions of
its licence varied to cover those services.
(3) To avoid doubt, subsection (2) does not limit ASIC’s powers under
Part 7.6 (whether during or after the period of 6 months) in relation
to the company’s Australian financial services licence.
Note: For example, ASIC may (under Subdivision B of Division 4 of
Part 7.6) impose or vary licence conditions, or may (under
Subdivision C of Division 4 of Part 7.6) vary, cancel or suspend the
licence.
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Division 2 Transitional provisions relating to Schedule 2 to the Corporations
Legislation Amendment (Financial Services Modernisation) Act 2009
Section 1496
144 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1496 General power for regulations to deal with transitional matters
(1) The regulations may make provisions of a transitional, application
or saving nature in relation to any of the following:
(a) the transition from the regime provided for by laws of the
States and Territories (as in force before commencement)
relating to trustee companies to the regime provided for by
this Act as amended by the amending Schedule;
(b) the amendments and repeals made to this Act by the
amending Schedule.
(2) Without limiting subsection (1), regulations made for the purpose
of that subsection may modify provisions of this Act.
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Transitional provisions relating to Schedule 3 to the Corporations Legislation
Amendment (Financial Services Modernisation) Act 2009 Division 3
Section 1497
Corporations Act 2001 145
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 3—Transitional provisions relating to Schedule 3
to the Corporations Legislation Amendment
(Financial Services Modernisation) Act 2009
1497 Definitions
In this Division:
amending Schedule means Schedule 3 to the Corporations
Legislation Amendment (Financial Services Modernisation) Act
2009.
1498 Application of amendments
(1) The amendment made by item 1 of the amending Schedule applies
to promissory notes made after the commencement of that item.
(2) The amendment made by item 2 of the amending Schedule applies
to trustees appointed on or after the commencement of that item.
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Part 10.13 Transitional provisions relating to the Personal Property Securities
(Corporations and Other Amendments) Act 2009
Section 1499
146 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 10.13—Transitional provisions relating to the
Personal Property Securities (Corporations
and Other Amendments) Act 2009
1499 Definitions
In this Part:
amending Act means the Personal Property Securities
(Corporations and Other Amendments) Act 2010.
commencement time means the time item 187 of Schedule 1 to the
amending Act commences.
Note: Item 187 of Schedule 1 to the amending Act inserts sections 1499 to
1510. The item commences at the registration commencement time
within the meaning of section 306 of the Personal Property Securities
Act 2009 (as provided by section 2 of the amending Act).
registrable charge means a charge created before the
commencement time that was a registrable charge within the
meaning of section 261 when it was created.
1500 Charges, liens and pledges—continuation of restriction of
references
(1) This section applies despite the amendment of this Act made by
item 10 of Schedule 1 to the amending Act if a reference to a
charge in a provision of this Act, as in force immediately before
the commencement time, did not include a reference to a lien or a
pledge, or any other particular form of security over the property.
Note: Item 10 of Schedule 1 to the amending Act inserts the definition of
security interest in section 51A.
(2) In its application in relation to an interest in property created or
arising before the commencement time, or under an agreement or
instrument made before that time, the reference in that provision
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Section 1501
Corporations Act 2001 147
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(as amended by the amending Act) to a security interest does not
include a reference to a lien or a pledge, or that particular form of
security over the property, as the case may be.
1501 Charges, liens, pledges and third party property—application
The amendments made by Part 1 (new concepts) of Schedule 1 to
the amending Act apply:
(a) in relation to charges, liens and pledges, whether created or
arising before, at or after the commencement time; and
(b) in relation to property owned, occupied or used by, or in the
possession of, a corporation, whether the ownership,
occupation, use or possession started before, at or after the
commencement time.
1501A References to the whole or substantially the whole of a
company’s property
(1) This section applies to a transitional security interest within the
meaning of the Personal Property Securities Act 2009.
Note: For the meaning of transitional security interest, see section 308 of
the Personal Property Securities Act 2009.
(2) In working out for the purposes of this Act whether the security
interest covers the whole, or substantially the whole, of the
company’s property at a time (the later time) that is at or after the
commencement time, disregard any of the company’s property that
is PPSA retention of title property of the company at the later time.
Note: This Act gives certain powers to secured parties who hold security
interests over the whole, or substantially the whole, of a company’s
property (for example, the power to appoint an administrator under
section 436C).
1501B Constructive notice of registrable charges
Section 130 does not apply in relation to a document that has been
lodged with ASIC to the extent that the document relates to a
registrable charge.
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Section 1502
148 Corporations Act 2001
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Note: Section 130 provides that a person is not taken to have information
about a company merely because the information is available to the
public from ASIC.
1502 Repeal of Chapter 2K (charges)—general
(1) For the period of 7 years after the commencement time, the
amendments made by Part 2 of Schedule 1 to the amending Act do
not apply in relation to registrable charges.
Note: The amendments made by Part 2 of Schedule 1 to the amending Act
repeal Chapter 2K and make consequential amendments to other
provisions.
(2) This section applies subject to sections 1503 to 1506.
1503 Repeal of Chapter 2K (charges)—cessation of requirements in
relation to documents or notices
Scope
(1) This section applies if, immediately before the commencement
time, a document (however described) or notice is required to be
lodged or given by a company or other person under one of the
following provisions:
(a) paragraph 263(1)(a), (b) or (c);
(b) paragraph 263(2)(b);
(c) subsection 263(3);
(d) paragraph 264(1)(a) or (b);
(e) paragraph 265(6)(b);
(f) paragraph 268(1)(a) or (b);
(g) subsection 268(2);
(h) subsection 269(1) or (2);
(i) subsection 270(4).
Requirements that stop applying
(2) Whichever of the following requirements would otherwise apply
stops applying at the commencement time:
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(a) the requirement to lodge or give the document or notice;
(b) the requirement for ASIC to enter or delete particulars in the
Register in relation to the document or notice.
1504 Repeal of Chapter 2K (charges)—application of section 266
(1) Subject to this section, section 266 stops applying at the
commencement time in relation to registrable charges.
(2) However, if a registrable charge is void under section 266
immediately before the commencement time, that section continues
to apply in relation to the charge, subject to subsection (3) of this
section.
(3) The Court may, on such terms and conditions as seem to the Court
just and expedient, by order, declare a registrable charge not to be,
and never to have been, void under subsection 266(1) or (3), if:
(a) before the commencement time, the charge is void under
subsection 266(1) or (3) (as the case requires); and
(b) either:
(i) an application is made to the Court under
subsection 266(4) before the commencement time for an
extension of the relevant period, and as at the
commencement time, the Court had not made a decision
in relation to the application; or
(ii) an application is made to the Court at or after the
commencement time for an order under this subsection;
and
(c) the Court is satisfied of the matters set out in
subsection 266(4).
1505 Repeal of Chapter 2K (charges)—cessation of company
registration requirements
The requirements in section 271 (company documentation and
registration of charges) stop applying in relation to registrable
charges at the commencement time.
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Section 1506
150 Corporations Act 2001
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1506 Repeal of Chapter 2K (charges)—priority between registrable
charges
At and after the commencement time, registrable charges have the
priority between themselves that they would have had under this
Act as in force immediately before the commencement time,
subject to Chapter 9 (Transitional provisions) of the Personal
Property Securities Act 2009.
1507 New section 440B (restrictions on third party property rights)
The repeal of sections 440B, 440BA, 440BB and 440C by
item 156 of Schedule 1 to the amending Act does not affect the
operation of subsections 1483(9) and (10) in relation to:
(a) the administration of a company that began at or after the
start of the day section 440BA commenced, and before the
commencement time within the meaning of section 1499; or
(b) distress for rent that began to be carried out before the day
section 440BB commenced.
Note: Sections 440BA and 440BB commenced on 31 December 2007.
1508 New subsection 442CB(1) (administrator’s duty of care)
The amendment of this Act by item 135 of Schedule 1 to the
amending Act does not apply in relation to the exercise of a power
of sale if the power began to be exercised before the
commencement time.
Note: Item 135 of Schedule 1 to the amending Act repealed
subsection 442CB(1) and substituted a new subsection.
1509 New section 588FP (security interests in favour of an officer of
a company etc. void)
Section 588FP does not apply in relation to a registrable charge.
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Section 1510
Corporations Act 2001 151
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1510 Winding up applied for before the commencement time
Subject to this Part, the amendments made by the amending Act do
not apply in relation to the winding up of a company under
Part 5.4, Part 5.4A or Part 5.4B, or the subsequent liquidation of
the company, if the application for winding up for the purposes of
those Parts is made before the commencement time.
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Part 10.14 Transitional provisions relating to the Corporations Amendment (Corporate
Reporting Reform) Act 2010
Section 1510A
152 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 10.14—Transitional provisions relating to the
Corporations Amendment (Corporate
Reporting Reform) Act 2010
1510A Definition
In this Part:
amending Act means the Corporations Amendment (Corporate
Reporting Reform) Act 2010.
1510B Application of Part 1 of Schedule 1 to the amending Act
(1) The amendments made by items 1 to 4, items 11 to 16, items 18 to
23, items 29 and 30, items 32 to 42, items 45 to 47 and items 49 to
51 of Schedule 1 to the amending Act apply in relation to a
company, registered scheme or disclosing entity for financial years
of the company, registered scheme or disclosing entity ending on
or after 30 June 2010.
(1A) The amendment made by item 6 of Schedule 1 to the amending Act
applies in relation to a company limited by guarantee incorporated
on or after the commencement of that item.
(2) The amendments made by items 7 and 48 of Schedule 1 to the
amending Act apply in relation to dividends declared on or after
the commencement of those items.
(3) The amendments made by items 8, 9 and 10 of Schedule 1 to the
amending Act apply in relation to cancellations of paid-up share
capital that occur on or after the commencement of those items.
(4) Despite the amendment made by item 17 of Schedule 1 to the
amending Act, accounting standards made for the purposes of
subsection 295(2) of this Act that were in force immediately before
the commencement of that item continue in force, after that
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Section 1510B
Corporations Act 2001 153
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commencement, as if they were made for the purposes of
subsection 295(2) of this Act as amended by that item.
(5) The amendment made by item 17 of Schedule 1 to the amending
Act applies to a report of a company, registered scheme or
disclosing entity for financial years of the company, registered
scheme or disclosing entity ending on or after 30 June 2010.
(6) The amendments made by items 24 to 28 of Schedule 1 to the
amending Act apply in relation to a company, registered scheme or
disclosing entity for financial years of the company, registered
scheme or disclosing entity ending on or after 30 June 2011.
(7) Despite the amendment made by item 31 of Schedule 1 to the
amending Act, accounting standards made for the purposes of
subsection 303(2) of this Act that were in force immediately before
the commencement of that item continue in force, after that
commencement, as if they were made for the purposes of
subsection 303(2) of this Act as amended by that item.
(8) The amendment made by item 31 of Schedule 1 to the amending
Act applies to a report of a disclosing entity for half-years of the
disclosing entity ending on or after 30 June 2010.
(9) The amendments made by items 43 and 44 of Schedule 1 to the
amending Act apply where the previous financial year of the
company, registered scheme or disclosing entity ends on or after
30 June 2010.
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Part 10.15 Transitional provisions relating to the Corporations Amendment (Financial
Market Supervision) Act 2010
Section 1511
154 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 10.15—Transitional provisions relating to the
Corporations Amendment (Financial
Market Supervision) Act 2010
1511 Definition
In this Part:
amending Schedule means Schedule 1 to the Corporations
Amendment (Financial Market Supervision) Act 2010.
1512 Application of amendments
(1) The amendments made by items 2, 5 to 11, 14, 17 and 18 of the
amending Schedule apply in relation to Australian market licences
granted before, on or after the commencement of the amending
Schedule.
(2) The amendments made by items 12 and 13 of the amending
Schedule apply in relation to applications for an Australian market
licence:
(a) that were made but had not yet been decided before the day
on which the amending Schedule commences; and
(b) that are made on or after the commencement of the amending
Schedule.
1513 Regulations may deal with transitional matters
(1) The regulations may make provisions of a transitional, application
or saving nature relating to the amendments and repeals made by
the amending Schedule.
(2) Without limiting subsection (1), regulations made for the purpose
of that subsection may modify provisions of this Act.
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10.16
Section 1516
Corporations Act 2001 155
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Part 10.16—Transitional provisions relating to the
Corporations Amendment (No. 1) Act 2010
1516 Application of amendments
(1) The amendments made by items 4 to 8 of Schedule 1 to the
Corporations Amendment (No. 1) Act 2010 apply in relation to
requests made after the commencement of that Schedule to inspect,
or receive a copy of, a register.
(2) The amendment made by item 9 of that Schedule applies in
relation to information obtained from a register before, at or after
the commencement of that Schedule.
(3) The amendments made by items 12 to 14 of that Schedule apply in
relation to offers made after the commencement of that Schedule.
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Part 10.17 Transitional provisions relating to the Corporations Amendment (Improving
Accountability on Director and Executive Remuneration) Act 2011
Section 1517
156 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 10.17—Transitional provisions relating to the
Corporations Amendment (Improving
Accountability on Director and Executive
Remuneration) Act 2011
1517 Application of Subdivision B of Division 1 of Part 2D.3
Subdivision B of Division 1 of Part 2D.3 applies in relation to the
setting of board limits on or after 1 July 2011.
1518 Application of sections 206J, 206K, 206L and 206M
(1) Section 206J applies to entry into arrangements on or after 1 July
2011, whether the remuneration was for services rendered before,
on or after that day.
(2) Section 206K applies to contracts entered into on or after 1 July
2011.
(3) Sections 206L and 206M apply to recommendations made under
contracts entered into on or after 1 July 2011.
1519 Application of subsection 249L(2)
Subsection 249L(2) as substituted by the Corporations Amendment
(Improving Accountability on Director and Executive
Remuneration) Act 2011 applies in relation to AGMs held on or
after 1 July 2011.
1520 Application of section 250BB
Section 250BB applies to voting on or after 1 August 2011,
whether the proxy was appointed before, on or after that day.
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Section 1521
Corporations Act 2001 157
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1521 Application of section 250BC
Section 250BC applies to appointments of proxies made on or after
1 August 2011.
1522 Application of section 250BD
Section 250BD applies in relation to voting on or after 1 August
2011, whether the matter that is the subject of the resolution relates
to a time before, on or after that day.
1523 Application of subsections 250R(4) to (10)
Subsections 250R(4), (5), (6), (7), (8), (9) and (10) apply in
relation to voting on or after 1 August 2011, whether the
remuneration report concerned relates to a financial year starting
before, on or after that day.
1524 Application of Division 9 of Part 2G.2
Division 9 of Part 2G.2 applies in relation to AGMs held on or
after 1 July 2011.
Note: This has the effect that the Division can apply in relation to a
company only if both of its 2 most recent AGMs have been held on or
after 1 July 2011.
1525 Application of amendments of section 300A
(1) The amendments of section 300A made by the Corporations
Amendment (Improving Accountability on Director and Executive
Remuneration) Act 2011 apply in relation to remuneration reports
for financial years starting on or after 1 July 2011.
(2) Subsection (1) does not apply to the repeal of
subsection 300A(1AAA).
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Part 10.17 Transitional provisions relating to the Corporations Amendment (Improving
Accountability on Director and Executive Remuneration) Act 2011
Section 1525
158 Corporations Act 2001
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Saving of regulations made for paragraph 300A(1)(f)
(3) The amendment of paragraph 300A(1)(f) made by the
Corporations Amendment (Improving Accountability on Director
and Executive Remuneration) Act 2011 does not affect the validity
of any regulations in force for the purposes of that paragraph
immediately before that amendment.
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Transitional and application provisions relating to the Future of Financial Advice
Measures Part 10.18
Provisions relating to the Corporations Amendment (Further Future of Financial Advice
Measures) Act 2012 Division 1
Section 1526
Corporations Act 2001 159
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Part 10.18—Transitional and application provisions
relating to the Future of Financial Advice
Measures
Division 1—Provisions relating to the Corporations
Amendment (Further Future of Financial Advice
Measures) Act 2012
1526 Definitions
(1) In this Part:
amending Act means the Corporations Amendment (Further
Future of Financial Advice Measures) Act 2012.
custodial arrangement has the same meaning as it has in
subsection 1012IA(1), subject to subsection (2).
platform operator means the provider of a custodial arrangement,
or custodial arrangements.
provider, in relation to a custodial arrangement, has the same
meaning as in subsection 1012IA(1).
(2) The definition of custodial arrangement in subsection 1012IA(1)
is to be read as if the reference in that definition to an instruction
included a reference to:
(a) a direction of the kind mentioned in paragraph 58(2)(d) or
(da) of the Superannuation Industry (Supervision) Act 1993
that will involve the acquisition of a particular financial
product, or a financial product of a particular kind; and
(b) a direction of the kind mentioned in subsection 52B(4) of the
Superannuation Industry (Supervision) Act 1993 that will
involve the acquisition of a particular financial product, or a
financial product of a particular kind.
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Part 10.18 Transitional and application provisions relating to the Future of Financial
Advice Measures
Division 1 Provisions relating to the Corporations Amendment (Further Future of
Financial Advice Measures) Act 2012
Section 1527
160 Corporations Act 2001
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1527 Application of best interests obligations
(1) The following apply in relation to the provision of personal advice
to a person as a retail client on or after the application day (whether
or not the advice was sought before that day):
(a) Division 2 of Part 7.7A, as inserted by item 23 of Schedule 1
to the amending Act;
(b) the amendments made by items 6, 7, 8, 9 and 34 of
Schedule 1 to the amending Act.
(2) In this section:
application day, in relation to a financial services licensee or a
person acting as a representative of a financial services licensee,
means:
(a) if the financial services licensee has lodged notice with ASIC
in accordance with subsection 967(1) that the obligations and
prohibitions imposed under Part 7.7A are to apply to the
licensee and persons acting as representatives of the licensee
on and from the day specified in the notice—the day
specified in the notice; or
(b) if the person has not lodged such a notice—1 July 2013.
1528 Application of ban on conflicted remuneration
(1) Subject to subsections (2) and (3), Division 4 of Part 7.7A, as
inserted by item 24 of Schedule 1 to the amending Act, does not
apply to a benefit given to a financial services licensee, or a
representative of a financial services licensee, if:
(a) the benefit is given under an arrangement entered into before
the application day; and
(b) the benefit is not given by a platform operator.
(2) The regulations may prescribe circumstances in which that
Division applies, or does not apply, to a benefit given to a financial
services licensee or a representative of a financial services licensee.
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Measures) Act 2012 Division 1
Section 1529
Corporations Act 2001 161
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(3) Despite subsection (1), that Division does not apply to a benefit
given to a financial services licensee, or a representative of a
financial services licensee, to the extent that the operation of that
Division would result in an acquisition of property (within the
meaning of paragraph 51(xxxi) of the Constitution) from a person
otherwise than on just terms (within the meaning of that paragraph
of the Constitution).
(4) In this section:
application day:
(a) in relation to a financial services licensee or a person acting
as a representative of a financial services licensee, means:
(i) if the financial services licensee has lodged notice with
ASIC in accordance with subsection 967(1) that the
obligations and prohibitions imposed under Part 7.7A
are to apply to the licensee and persons acting as
representatives of the licensee on and from a day
specified in the notice—the day specified in the notice;
or
(ii) in any other case—1 July 2013; and
(b) in relation to any other person who would be subject to an
obligation or prohibition under Division 4 of Part 7.7A if it
applied, means:
(i) if a notice has been lodged with ASIC in accordance
with subsection 967(3) that the obligations and
prohibitions imposed under Part 7.7A are to apply to the
person on and from a day specified in the notice—the
day specified in the notice; or
(ii) in any other case—1 July 2013.
1529 Application of ban on other remuneration—volume-based
shelf-space fees
(1) Subject to subsection (2), Subdivision A of Division 5 of
Part 7.7A, as inserted by item 24 of Schedule 1 to the amending
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Part 10.18 Transitional and application provisions relating to the Future of Financial
Advice Measures
Division 1 Provisions relating to the Corporations Amendment (Further Future of
Financial Advice Measures) Act 2012
Section 1530
162 Corporations Act 2001
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Act, does not apply to a benefit given to a financial services
licensee, or an RSE licensee, under an arrangement entered into
before the application day.
(2) The regulations may prescribe circumstances in which that
Subdivision applies to a benefit given to a financial services
licensee, or an RSE licensee, under an arrangement entered into
before the application day.
(3) In this section:
application day:
(a) in relation to a financial services licensee or a person acting
as a representative of a financial services licensee, means:
(i) if the financial services licensee has lodged notice with
ASIC in accordance with subsection 967(1) that the
obligations and prohibitions imposed under Part 7.7A
are to apply to the licensee and persons acting as
representatives of the licensee on and from a day
specified in the notice—the day specified in the notice;
or
(ii) in any other case—1 July 2013; and
(b) in relation to any other person who would be subject to an
obligation or prohibition under Subdivision A of Division 5
of Part 7.7A if it applied, means:
(i) if a notice has been lodged with ASIC in accordance
with subsection 967(3) that the obligations and
prohibitions imposed under Part 7.7A are to apply to the
person on and from the day specified in the notice—the
day specified in the notice; or
(ii) in any other case—1 July 2013.
1530 Regulations do not apply where an acquisition of property
otherwise than on just terms would result
Regulations made for the purposes of subsection 1528(2) or
1529(2) do not apply to the extent that the operation of the
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Measures Part 10.18
Provisions relating to the Corporations Amendment (Further Future of Financial Advice
Measures) Act 2012 Division 1
Section 1531
Corporations Act 2001 163
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regulations would result in an acquisition of property (within the
meaning of paragraph 51(xxxi) of the Constitution) from a person
otherwise than on just terms (within the meaning of that
paragraph).
1531 Application of ban on other remuneration—asset-based fees on
borrowed amounts
(1) Subdivision B of Division 5 of Part 7.7A, as inserted by item 24 of
Schedule 1 to the amending Act, applies to asset-based fees
charged on or after the application day on borrowed amounts, but
only to the extent that those amounts are used or to be used to
acquire financial products on or after that day.
(2) Despite subsection (1), that Subdivision does not apply to an
asset-based fee charged on or after the application day, to the
extent that the operation of that Subdivision would result in an
acquisition of property (within the meaning of paragraph 51(xxxi)
of the Constitution) from a person otherwise than on just terms
(within the meaning of that paragraph of the Constitution).
(3) In this section:
application day, in relation to a financial services licensee or a
person acting as a representative of a financial services licensee,
means:
(a) if the financial services licensee has lodged notice with ASIC
in accordance with subsection 967(1) that the obligations and
prohibitions imposed under Part 7.7A are to apply to the
licensee and persons acting as representatives of the licensee
on and from the day specified in the notice—the day
specified in the notice; or
(b) if the person has not lodged such a notice—1 July 2013.
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Part 10.18 Transitional and application provisions relating to the Future of Financial
Advice Measures
Division 2 Provisions relating to the Corporations Amendment (Financial Advice
Measures) Act 2016
Section 1531A
164 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 2—Provisions relating to the Corporations
Amendment (Financial Advice Measures) Act
2016
1531A Definitions
In this Division:
commencement day means the day on which Schedule 1 to the
Corporations Amendment (Financial Advice Measures) Act 2016
commences.
1531B Best interests obligation
The amendments made by items 12, 14A and 16 of Schedule 1 to
the Corporations Amendment (Financial Advice Measures) Act
2016 apply in relation to the provision of personal advice to a
person as a retail client on or after the commencement day.
1531C Renewal notices (opt-in requirement)
(1) The amendment made by item 21 of Schedule 1 to the
Corporations Amendment (Financial Advice Measures) Act 2016
applies in relation to an ongoing fee arrangement for those renewal
notice days for the arrangement that occur on or after the
commencement day.
(2) In this item:
renewal notice day for an ongoing fee arrangement has the same
meaning as it has in Part 7.7A, as in force immediately before the
commencement day.
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2016 Division 2
Section 1531D
Corporations Act 2001 165
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1531D Disclosure statements
The amendments made by items 20A, 20B and 22 of Schedule 1 to
the Corporations Amendment (Financial Advice Measures) Act
2016 apply in relation to an ongoing fee arrangement for those
disclosure days for the arrangement that occur on or after the
commencement day.
1531E Conflicted remuneration
The amendments made by items 23 to 35 of Schedule 1 to the
Corporations Amendment (Financial Advice Measures) Act 2016
apply in relation to a benefit if:
(a) the benefit is one to which Division 4 of Part 7.7A applies
under section 1528; and
(b) the benefit is given on or after the commencement day.
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Part 10.19 Transitional provisions relating to the Corporations Amendment
(Phoenixing and Other Measures) Act 2012
Section 1532
166 Corporations Act 2001
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Part 10.19—Transitional provisions relating to the
Corporations Amendment (Phoenixing and
Other Measures) Act 2012
1532 Definition
In this Part:
amending Act means the Corporations Amendment (Phoenixing
and Other Measures) Act 2012.
1533 Part 1 of Schedule 1 to the amending Act (winding up by
ASIC)
(1) Paragraph 489EA(1)(a) of the Corporations Act 2001 as amended
by the amending Act applies in relation to a return of particulars
given to a company before, at or after the commencement of
Schedule 1 to the amending Act.
(2) Subsection 489EA(2) of the Corporations Act 2001 as amended by
the amending Act applies in relation to a review fee, if the due date
for payment occurs before, on or after the day on which Schedule 1
to the amending Act commences.
(3) Subsection 489EA(3) of the Corporations Act 2001 as amended by
the amending Act applies in relation to a reinstatement that occurs
before, at or after the commencement of Schedule 1 to the
amending Act.
1534 Part 2 of Schedule 1 to the amending Act (publication
requirements)
(1) The amendment of subsection 412(1) of the Corporations Act 2001
made by Part 3 of Schedule 1 to the amending Act applies in
relation to a notice published after the commencement of
Schedule 1 to the amending Act.
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Section 1534
Corporations Act 2001 167
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(2) The amendment of subsection 436E(3) of the Corporations Act
2001 made by Part 3 of Schedule 1 to the amending Act applies in
relation to a meeting convened after the commencement of
Schedule 1 to the amending Act.
(3) The amendment of subsection 439A(3) of the Corporations Act
2001 made by Part 3 of Schedule 1 to the amending Act applies in
relation to a meeting convened after the commencement of
Schedule 1 to the amending Act.
(4) The amendment of subsection 446A(5) of the Corporations Act
2001 made by Part 3 of Schedule 1 to the amending Act applies in
relation to a resolution that is taken, because of section 446A of the
Corporations Act 2001, to have been passed by a company after
the commencement of Schedule 1 to the amending Act.
(5) The amendment of subsection 449C(5) of the Corporations Act
2001 made by Part 3 of Schedule 1 to the amending Act applies in
relation to a meeting convened after the commencement of
Schedule 1 to the amending Act.
(6) The amendment of subsection 450A(1) of the Corporations Act
2001 made by the amending Act applies in relation to an
appointment of an administrator that occurs after the
commencement of Schedule 1 to the amending Act.
(7) The amendment of section 465A of the Corporations Act 2001
made by Part 3 of Schedule 1 to the amending Act applies in
relation to an application made under section 459P, 462 or 464 of
that Act after the commencement of Schedule 1 to the amending
Act.
(8) The amendment of subsection 491(2) of the Corporations Act 2001
made by Part 3 of Schedule 1 to the amending Act applies in
relation to a resolution passed after the commencement of
Schedule 1 to the amending Act.
(9) The amendment of subsection 497(2) of the Corporations Act 2001
made by Part 3 of Schedule 1 to the amending Act applies in
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Part 10.19 Transitional provisions relating to the Corporations Amendment
(Phoenixing and Other Measures) Act 2012
Section 1535
168 Corporations Act 2001
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relation to a meeting convened after the commencement of
Schedule 1 to the amending Act.
(10) The amendment of subsection 498(3) of the Corporations Act 2001
made by Part 3 of Schedule 1 to the amending Act applies in
relation to an adjournment that occurs after the commencement of
Schedule 1 to the amending Act.
(11) The amendment of subsection 509(2) of the Corporations Act 2001
made by Part 3 of Schedule 1 to the amending Act applies in
relation to a meeting convened after the commencement of
Schedule 1 to the amending Act.
(12) The amendment of subsection 568A(2) of the Corporations Act
2001 made by Part 3 of Schedule 1 to the amending Act applies in
relation to a disclaimer of property, if the disclaimer occurs after
the commencement of Schedule 1 to the amending Act.
(13) Despite the amendments of sections 589, 601AA, 601AB and 1351
of the Corporations Act 2001 made by Part 3 of Schedule 1 to the
amending Act, if, before the commencement of Schedule 1 to the
amending Act, ASIC gave notice of the proposed deregistration of
a company in accordance with subsection 601AA(4) or 601AB(3)
of the Corporations Act 2001, that Act continues to apply, in
relation to the deregistration of the company, as if those
amendments had not been made.
1535 Part 3 of Schedule 1 to the amending Act (miscellaneous
amendments)
Section 600AA of the Corporations Act 2001 as amended by the
amending Act applies in relation to an appointment, if the
appointment occurs after the commencement of Schedule 1 to the
amending Act.
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Transitional provisions relating to the Corporations Legislation Amendment (Audit
Enhancement) Act 2012 Part 10.20
Section 1536
Corporations Act 2001 169
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Part 10.20—Transitional provisions relating to the
Corporations Legislation Amendment
(Audit Enhancement) Act 2012
1536 Definitions
In this Part:
amending Act means the Corporations Legislation Amendment
(Audit Enhancement) Act 2012.
commencement means the commencement of Schedule 1 to the
amending Act.
1537 Application of amendments relating to annual transparency
reports
The amendments made by Part 2 of Schedule 1 to the amending
Act apply in relation to annual transparency reports for:
(a) the first transparency reporting year that ends after
commencement (even if part of that year occurs before
commencement); and
(b) all later transparency reporting years.
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Part 10.21 Transitional provision relating to the Corporations Legislation Amendment
(Financial Reporting Panel) Act 2012
Section 1538
170 Corporations Act 2001
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Part 10.21—Transitional provision relating to the
Corporations Legislation Amendment
(Financial Reporting Panel) Act 2012
1538 Courts etc. may have regard to Financial Reporting Panel
report
Despite the repeal of section 323EM by the Corporations
Legislation Amendment (Financial Reporting Panel) Act 2012, that
section continues to apply, in relation to a report of the Financial
Reporting Panel, as if that repeal had not happened.
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Transitional provisions relating to the Superannuation Legislation Amendment (Service
Providers and Other Governance Measures) Act 2013 Part 10.21A
Section 1538A
Corporations Act 2001 171
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Part 10.21A—Transitional provisions relating to
the Superannuation Legislation
Amendment (Service Providers and Other
Governance Measures) Act 2013
1538A Application of amendments relating to contributions to a
fund or scheme
The amendments made by items 1, 2 and 3 of Schedule 1 to the
Superannuation Legislation Amendment (Service Providers and
Other Governance Measures) Act 2013 apply to contributions paid
or payable on or after 1 July 2013.
1538B Application of amendments relating to Statements of Advice
The amendments made by items 7 and 8 of Schedule 1 to the
Superannuation Legislation Amendment (Service Providers and
Other Governance Measures) Act 2013 apply in relation to
personal advice given on or after the commencement of those
items.
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Part 10.22 Transitional provisions relating to the Superannuation Legislation
Amendment (Further MySuper and Transparency Measures) Act 2012
Section 1539
172 Corporations Act 2001
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Part 10.22—Transitional provisions relating to the
Superannuation Legislation Amendment
(Further MySuper and Transparency
Measures) Act 2012
1539 Application of section 1017BA (Obligation to make product
dashboard publicly available)
Section 1017BA applies:
(a) to the extent that it relates to MySuper products—on and
after 1 July 2013; and
(b) to the extent that it relates to choice products—on and after
1 July 2014.
1540 Application of subsection 1017BB(1) (Obligation to make
information relating to investment of assets of
superannuation entities publicly available)
Subsection 1017BB(1) applies in relation to the reporting day that
is 30 June 2014 and to later reporting days.
1541 Application of section 1017BC (Obligation to provide
information relating to investment of assets of
superannuation entities)
(1) Section 1017BC applies in relation to arrangements entered into on
or after this Act receives the Royal Assent.
(2) In any proceedings against a trustee of a registrable superannuation
entity for an offence based on subsection 1021NB(1), it is a
defence if the information would have been made publicly
available but for the fact that the information was not provided to
the trustee because, under this section, section 1017BC did not
apply to a particular arrangement.
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MySuper and Transparency Measures) Act 2012 Part 10.22
Section 1541
Corporations Act 2001 173
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Note: A defendant bears an evidential burden in relation to the matters in
subsection (2). See subsection 13.3(3) of the Criminal Code.
(3) In any proceedings against a trustee of a registrable superannuation
entity for an offence based on subparagraph 1021NB(2)(d)(ii) or
(3)(d)(ii), it is a defence if there would not have been an omission
from the information made publicly available but for the fact that
the information omitted was not provided to the trustee because,
under this section, section 1017BC did not apply to a particular
arrangement.
Note: A defendant bears an evidential burden in relation to the matters in
subsection (3). See subsection 13.3(3) of the Criminal Code.
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Chapter 10 Transitional provisions
Part 10.23 Transitional provisions relating to the Clean Energy Legislation (Carbon
Tax Repeal) Act 2014
Section 1542
174 Corporations Act 2001
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Part 10.23—Transitional provisions relating to the
Clean Energy Legislation (Carbon Tax
Repeal) Act 2014
1542 Definition
In this Part:
designated carbon unit day has the same meaning as in Part 3 of
Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal)
Act 2014.
1543 Transitional—carbon units issued before the designated
carbon unit day
Despite the amendments of this Act made by Schedule 1 to the
Clean Energy Legislation (Carbon Tax Repeal) Act 2014, this Act
continues to apply, in relation to carbon units issued before the
designated carbon unit day, as if those amendments had not been
made.
1544 Transitional—variation of conditions on Australian financial
services licences
Scope
(1) This section applies if, as at the end of the designated carbon unit
day, an Australian financial services licence is subject to a
condition that authorises the financial services licensee to provide
financial services in relation to financial products that are carbon
units.
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Act 2014 Part 10.23
Section 1545
Corporations Act 2001 175
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Variation
(2) After that day, subsections 914A(3), (4) and (5) do not apply in
relation to a variation of the condition, if the only effect of the
variation is to remove the authorisation to provide financial
services in relation to financial products that are carbon units.
1545 Transitional—immediate cancellation of Australian financial
services licences
Section 915B applies, on and after the designated carbon unit day,
as if the following subsection was added at the end of the section:
Licence relating to carbon units
(5) ASIC may cancel an Australian financial services licence held by a
person, by giving written notice to the person, if the licence only
authorises the person to provide financial services that relate to
financial products that are carbon units.
1546 Transitional—statements of reasons for cancellation of
Australian financial services licences
Section 915G does not apply to a cancellation under
subsection 915B(5) (as inserted by section 1545).
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Chapter 10 Transitional provisions
Part 10.23A Transitional provisions relating to the Corporations Amendment
(Professional Standards of Financial Advisers) Act 2017
Division 1 Definitions
Section 1546A
176 Corporations Act 2001
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Part 10.23A—Transitional provisions relating to
the Corporations Amendment (Professional
Standards of Financial Advisers) Act 2017
Division 1—Definitions
1546A Definitions
In this Part:
amending Act means the Corporations Amendment (Professional
Standards of Financial Advisers) Act 2017.
commencement means the start of the day Part 1 of Schedule 1 to
the amending Act commences.
education and training standards has the meaning given by
section 921B.
existing provider means:
(a) a person who:
(i) is a relevant provider at any time between 1 January
2016 and 1 January 2019 (except a person who has
ceased to be a relevant provider under
subsection 1546B(4) or (5)); and
(ii) is not banned, disqualified or suspended under
Division 8 of Part 7.6 on 1 January 2019; or
(b) a person who:
(i) at any time between 1 January 2016 and 1 January
2019, provides personal advice in a foreign country to
retail clients in relation to relevant financial products;
and
(ii) is not prohibited under the law of the foreign country
from providing such advice on 1 January 2019.
foreign country includes a region, where:
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Definitions Division 1
Section 1546A
Corporations Act 2001 177
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(a) the region is a colony, territory or protectorate of a foreign
country; or
(b) the region is part of a foreign country; or
(c) the region is under the protection of a foreign country; or
(d) a foreign country exercises jurisdiction or control over the
region; or
(e) a foreign country is responsible for the region’s international
relations.
relevant financial products has the meaning given by
section 910A.
relevant provider has the meaning given by section 910A.
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Part 10.23A Transitional provisions relating to the Corporations Amendment
(Professional Standards of Financial Advisers) Act 2017
Division 2 Application and transitional provisions
Section 1546B
178 Corporations Act 2001
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Division 2—Application and transitional provisions
1546B Existing providers to meet certain education and training
standards
Completion of qualifications
(1) An existing provider must have done either of the following by
1 January 2024:
(a) met the education and training standard in
subsection 921B(2);
(b) completed one or more courses determined by the standards
body to give the provider qualifications equivalent to that
standard.
Note: The standard in subsection 921B(2) is that a person has completed a
bachelor or higher degree, or equivalent qualification, approved by the
standards body, or a foreign qualification approved by the standards
body.
(2) To avoid doubt, an existing provider may meet the education and
training standard in subsection 921B(2), or complete one or more
courses in accordance with paragraph (1)(b) of this section, before
this section commences.
Exam
(3) An existing provider must have met the education and training
standard in subsection 921B(3) before 1 January 2021.
Note 1: The standard in subsection 921B(3) is that a person has passed an
exam approved by the standards body.
Note 2: ASIC must be notified when existing providers have passed the exam
(see section 1546Y).
Note 3: An existing provider is not required to meet the standard in
subsection 921B(4), which is that a person has undertaken at least a
year of work and training that meets the requirements set by the
standards body.
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Transitional provisions relating to the Corporations Amendment (Professional
Standards of Financial Advisers) Act 2017 Part 10.23A
Application and transitional provisions Division 2
Section 1546C
Corporations Act 2001 179
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Failing to meet the education and training standards
(4) If, at the start of 1 January 2024, a person who is an existing
provider, and a relevant provider at that time, fails to comply with
subsection (1), the person is taken for the purposes of this Act,
after that time, to have ceased to be a relevant provider.
(5) If, at the start of 1 January 2021, a person who is an existing
provider, and a relevant provider at that time, fails to comply with
subsection (3), the person is taken for the purposes of this Act,
after that time, to have ceased to be a relevant provider.
(6) Subsections (4) and (5) do not prevent the person again becoming a
relevant provider.
Standards body may determine courses
(7) The standards body may, by legislative instrument, determine
courses for the purposes of paragraph (1)(b).
1546C Application of limitation on authorisation to provide
personal advice and offence
Limitation on authorisation to provide personal advice
(1) Section 921C, as inserted by the amending Act, applies in relation
to:
(a) any Australian financial services licence granted on or after
1 January 2019 to a person who is not a relevant provider
before that day; and
(b) any authorisation given on or after that day to a person who
is not a relevant provider before that day.
Note: Section 921C provides that a person cannot be granted a licence, or be
authorised, to provide certain financial advice unless the person meets
certain conditions.
(2) Section 921C, as inserted by the amending Act, applies, on and
after 1 January 2024, in relation to a person who ceases to be a
relevant provider under subsection 1546B(4).
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Division 2 Application and transitional provisions
Section 1546D
180 Corporations Act 2001
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(3) Section 921C, as inserted by the amending Act, applies, on and
after 1 January 2021, in relation to a person who ceases to be a
relevant provider under subsection 1546B(5).
(4) Section 921C, as inserted by the amending Act, does not apply in
relation to a person who is an existing provider while the person
continues to be a relevant provider.
Restriction on use of terms “financial adviser” and “financial
planner”
(5) The following provisions, as inserted by the amending Act, apply
on and after 1 January 2019:
(a) section 923C;
(b) items 269AAA and 269AAB of the table in Schedule 3.
Note: Those provisions relate to offences for using the terms “financial
adviser” and “financial planner”.
1546D Application of requirements relating to provisional relevant
providers
Section 921F, as inserted by the amending Act, applies in relation
to any authorisation given on or after 1 January 2019 to a person
who is not a relevant provider before that day.
Note: Section 921F sets out the requirements in relation to a person who is a
provisional relevant provider.
1546E Application of continuing professional development standard
for relevant providers
(1) Sections 921D and 922HA, as inserted by the amending Act, apply
on and after 1 January 2019.
Note: Section 921D provides that certain relevant providers must meet the
continuing professional development standard. Section 922HA
requires ASIC to be notified of the day on which a financial services
licensee’s CPD year is to begin.
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Application and transitional provisions Division 2
Section 1546E
Corporations Act 2001 181
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(2) Sections 922HB and 922HC, as inserted by the amending Act,
apply in relation to any CPD year of a financial services licensee
that begins on or after 1 January 2019.
Note: Section 922HB requires ASIC to be notified if relevant providers do
not comply with the continuing professional development standard.
Section 922HC requires a financial services licensee to retain
evidence of the continuing professional development of relevant
providers.
(3) Section 922N, as inserted by the amending Act, applies in relation
to a request made of a person on or after 1 January 2019 for the
purposes of subparagraph 922N(1)(c)(iii).
Note: Among other things, section 922N allows a financial services licensee
to ask a person to provide information relating to whether the licensee
must lodge a notice under section 922HB.
(4) Subsection (5) applies if:
(a) the first CPD year of a financial services licensee commences
after 1 January 2019; and
(b) before the start of the licensee’s first CPD year:
(i) the licensee is a relevant provider; or
(ii) a relevant provider is authorised to provide personal
advice to retail clients, on behalf of the licensee, in
relation to relevant financial products.
(5) Sections 922HB, 922HC and 922Q, as inserted by the amending
Act, apply as if a reference in those sections to a financial services
licensee’s CPD year included a reference to the period:
(a) beginning on the later of 1 January 2019 and:
(i) if subparagraph (4)(b)(i) applies—the day the licensee is
granted an Australian financial services licence that
covers the provision of personal advice to retail clients
in relation to relevant financial products; and
(ii) if subparagraph (4)(b)(ii) applies—the first day the
relevant provider is authorised to provide personal
advice to retail clients, on behalf of the licensee, in
relation to relevant financial products; and
(b) ending on the day before the licensee’s first CPD year.
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Part 10.23A Transitional provisions relating to the Corporations Amendment
(Professional Standards of Financial Advisers) Act 2017
Division 2 Application and transitional provisions
Section 1546F
182 Corporations Act 2001
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Note 1: Among other things, section 922Q requires failures of relevant
providers to comply with the continuing education standard to be
entered on the Register.
Note 2: The standards body may, under subparagraph 921U(2)(a)(iv), set
requirements for continuing professional development in relation to a
period mentioned in subsection (5) of this section, and, in one or more
determinations made under subsection 921U(3), modify the operation
of a provision in Part 7.6 in relation to such a period.
1546F Application of Code of Ethics to relevant providers
Sections 921E and 922HD, as inserted by the amending Act, apply
on and after 1 January 2020.
Note: Section 921E requires a relevant provider to comply with the Code of
Ethics. Section 922HD requires ASIC to be notified of failures to
comply with the Code of Ethics.
1546G Application of obligations in relation to compliance schemes
(1) Section 921H, as inserted by the amending Act, applies on and
after 15 November 2019:
(a) in relation to a person who becomes a financial services
licensee on or after that day; and
(b) for a person who becomes a financial services licensee before
that day:
(i) in relation to a person who becomes a relevant provider
on or after that day; and
(ii) in relation to a person who becomes a relevant provider
before that day as if subsection 921H(2) required the
scheme to cover the relevant provider by 1 January
2020.
Note: Section 921H requires a financial services licensee to ensure that a
compliance scheme covers each of its relevant providers.
(2) Section 921J, as inserted by the amending Act, applies on and after
15 November 2019.
Note: Section 921J sets out when a compliance scheme covers a relevant
provider.
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Application and transitional provisions Division 2
Section 1546H
Corporations Act 2001 183
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(3) Sections 921K, 921Q, 921R and 921T, as inserted by the amending
Act, apply on and after the day this section commences.
Note: Section 921K provides that a monitoring body for a compliance
scheme may apply to ASIC for approval of the scheme. Section 921Q
provides that ASIC may request information about a compliance
scheme from the monitoring body for the scheme. Section 921R
provides that a monitoring body may propose to modify a scheme in
certain circumstances. Section 921T requires a monitoring body to
notify ASIC of certain reductions in the body’s resources or expertise.
(4) Sections 921L, 921M, 921N, 921P and 921S, as inserted by the
amending Act, apply on and after 1 January 2020.
Note: Sections 921L to 921N include provisions about investigations by
monitoring bodies. Section 921P provides for compliance schemes to
be made publicly available. Section 921S provides for the review of
compliance schemes.
(5) Paragraphs 922E(1)(i) and 922F(1)(n), as inserted by the amending
Act, apply on and after 15 November 2019 in relation to notices
lodged under section 922D on or after that day.
Note: Paragraphs 922E(1)(i) and 922F(1)(n) require notices lodged under
section 922D in relation to a relevant provider to include the name of
the compliance scheme that is to cover the relevant provider.
1546H Application of obligation for standards body to publish
annual report
(1) Section 921ZC, as inserted by the amending Act, applies on and
after 1 July 2017.
(2) If the declaration of a body corporate to be the standards body
under section 921X takes effect at a time during a financial year,
the first annual report published by the standards body must cover
the period beginning at that time and ending at the end of the next
financial year as if that period were a financial year.
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Part 10.23A Transitional provisions relating to the Corporations Amendment
(Professional Standards of Financial Advisers) Act 2017
Division 2 Application and transitional provisions
Section 1546J
184 Corporations Act 2001
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1546J Application of obligation to notify ASIC about a person who
becomes a relevant provider
Sections 922D, 922E and 922F, as inserted by the amending Act,
apply (subject to subsection 1546G(5) and sections 1546K to
1546N) in relation to a person who becomes a relevant provider if:
(a) the person becomes a relevant provider after commencement;
or
(b) both of the following apply:
(i) the person becomes a relevant provider before
commencement;
(ii) immediately before commencement, a notice has not
been lodged in accordance with section 922D, as
notionally inserted into this Act by Schedule 8D to the
Corporations Regulations 2001.
Note: Section 922D requires ASIC to be notified if a person becomes a
relevant provider.
1546K Application of requirements relating to information about
relevant provider’s principal place of business
Paragraphs 922E(1)(b) and 922F(1)(b), as inserted by the
amending Act, apply on and after 15 November 2019 in relation to
notices lodged under section 922D on or after that day.
Note: Paragraphs 922E(1)(b) and 922F(1)(b) require notices lodged under
section 922D in relation to a relevant provider to include the address
of the relevant provider’s principal place of business.
1546L Application of requirements relating to information about
membership of professional associations where relevant
provider is licensee
Section 922E, as inserted by the amending Act, applies until the
start of 15 November 2019 as if paragraph 922E(1)(h) were
replaced with the following:
(h) information about both of the following:
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Section 1546M
Corporations Act 2001 185
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(i) the educational qualifications of, and any training
courses completed by, the relevant provider;
(ii) the relevant provider’s membership (if any) of
professional bodies;
to the extent that the qualifications, training courses or
memberships are relevant to the provision of financial
services (and if the relevant provider has more than 5
memberships, the 5 memberships that the person lodging the
notice believes, on reasonable grounds, are most relevant to
the provision of financial services);
1546M Application of requirements relating to information about
membership of professional associations where relevant
provider is not licensee
Section 922F, as inserted by the amending Act, applies until the
start of 15 November 2019 as if paragraph 922F(1)(m) were
replaced with the following:
(m) information about both of the following:
(i) the educational qualifications of, and any training
courses completed by, the relevant provider;
(ii) the relevant provider’s membership (if any) of
professional bodies;
to the extent that the qualifications, training courses or
memberships are relevant to the provision of financial
services (and if the relevant provider has more than 5
memberships, the 5 memberships that the person lodging the
notice believes, on reasonable grounds, are most relevant to
the provision of financial services);
1546N Application of requirements relating to information about
provisional relevant provider’s work and training
Paragraphs 922F(1)(f) and (g), as inserted by the amending Act,
apply in relation to notices lodged under section 922D on or after
1 January 2019.
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Division 2 Application and transitional provisions
Section 1546P
186 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Note: Paragraphs 922F(1)(f) and (g) require notices lodged under
section 922D to include information in relation to provisional relevant
providers and their work and training.
1546P Application of ongoing obligation to notify ASIC when there
is a change in a matter for a relevant provider
Paragraph 922H(1)(a), as inserted by the amending Act, applies in
relation to a change in a matter if:
(a) the change occurs after commencement; or
(b) both of the following apply:
(i) the change occurs before commencement;
(ii) immediately before commencement, a notice has not
been lodged in accordance with section 922H, as
notionally inserted into this Act by Schedule 8D to the
Corporations Regulations 2001.
1546Q Application of obligation to notify ASIC about a person who
starts to have control of a body corporate licensee
Section 922J, as inserted by the amending Act, applies in relation
to a person who starts to have control of a body corporate licensee
if:
(a) the person starts to have control of the licensee after
commencement; or
(b) both of the following apply:
(i) the person starts to have control of the licensee before
commencement;
(ii) immediately before commencement, a notice has not
been lodged in accordance with section 922J, as
notionally inserted into this Act by Schedule 8D to the
Corporations Regulations 2001.
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Application and transitional provisions Division 2
Section 1546R
Corporations Act 2001 187
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1546R Application of obligation to notify ASIC about a person who
ceases to have control of a body corporate licensee
Section 922K, as inserted by the amending Act, applies in relation
to a person who ceases to have control of a body corporate licensee
if:
(a) the person ceases to have control of the licensee after
commencement; or
(b) both of the following apply:
(i) the person ceases to have control of the licensee before
commencement;
(ii) immediately before commencement, a notice has not
been lodged in accordance with section 922K, as
notionally inserted into this Act by Schedule 8D to the
Corporations Regulations 2001.
1546S Application of obligation for relevant providers to provide
information to financial services licensees
Section 922N, as inserted by the amending Act, applies in relation
to a request made of a person if:
(a) both of the following apply:
(i) the request is made of the person for the purposes of
subparagraph 922N(1)(c)(i) or (ii);
(ii) the request is made after commencement (whether the
person becomes a relevant provider before or after
commencement); or
(b) both of the following apply:
(i) the request (as mentioned in paragraph 922N(1)(c), as
notionally inserted into this Act by Schedule 8D to the
Corporations Regulations 2001) is made before
commencement;
(ii) immediately before commencement, the person has not
provided the information requested.
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Part 10.23A Transitional provisions relating to the Corporations Amendment
(Professional Standards of Financial Advisers) Act 2017
Division 2 Application and transitional provisions
Section 1546T
188 Corporations Act 2001
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1546T Application of requirements relating to Register of Relevant
Providers
(1) Paragraphs 922Q(2)(b), (r), and (v), as inserted by the amending
Act, apply on and after 1 January 2020.
(2) Subparagraph 922Q(2)(j)(ii) and paragraph 922Q(2)(m), as
inserted by the amending Act, apply on and after 1 January 2019.
(3) Section 922Q, as inserted by the amending Act, applies until the
start of 1 January 2020 as if subparagraph 922Q(2)(u)(ii) were
replaced with the following:
(ii) the relevant provider’s membership (if any) of
professional associations, to the extent that the
memberships are relevant to the provision of financial
services;
(4) Otherwise, sections 922Q and 922S, as inserted by the amending
Act, apply on and after commencement.
1546U Relevant provider numbers given before commencement
For the purposes of this Act, a number given by ASIC to a person
in accordance with regulation 7.6.06A of the Corporations
Regulations 2001 is taken to have been given in accordance with
section 922R of this Act, as inserted by the amending Act.
1546V Continuation of Register of Relevant Providers
The repeal of regulation 7.6.06B of the Corporations
Regulations 2001 by the Corporations Amendment (Professional
Standards of Financial Advisers) Regulations 2017 does not affect
the continuity of the register of relevant providers established
under that regulation.
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Transitional notices Division 3
Section 1546W
Corporations Act 2001 189
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Division 3—Transitional notices
1546W Obligation to notify ASIC of certain information
(1) A notice must be lodged under this section, in the prescribed form,
if, before 15 November 2019, a notice was lodged in relation to a
relevant provider under:
(a) section 922D, as inserted by the amending Act; or
(b) section 922D, as notionally inserted into this Act by
Schedule 8D to the Corporations Regulations 2001.
(2) The notice must include:
(a) the address of the relevant provider’s principal place of
business; and
(b) the name of the compliance scheme that is to cover the
relevant provider.
(3) The notice must be lodged before 1 January 2020 by:
(a) if the relevant provider is a financial services licensee—the
licensee; or
(b) otherwise—the financial services licensee on whose behalf
the relevant provider is authorised to provide personal advice
to retail clients in relation to relevant financial products.
(4) Subsection 921J(2) applies, subject to this section, as if the
reference in that subsection to section 922D included a reference to
this section.
1546X Obligation to notify ASIC of CDP year
(1) A notice must be lodged under this section, in the prescribed form,
if, before 1 January 2019, ASIC granted an applicant an Australian
financial services licence that covers the provision of personal
advice to retail clients in relation to relevant financial products.
(2) The notice must include the day of the year on which the relevant
financial services licensee’s CPD year begins.
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(Professional Standards of Financial Advisers) Act 2017
Division 3 Transitional notices
Section 1546Y
190 Corporations Act 2001
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(3) The notice must be lodged by the licensee before 1 January 2019.
(4) Subsection 922HA(3) applies as if a reference in that subsection to
subsection 922HA(1) or (3) included a reference to this section.
1546Y Obligation to notify ASIC when exams passed
(1) A notice must be lodged under this section, in the prescribed form,
if an existing provider passes an exam for the purposes of
complying with subsection 1546B(3).
(2) The notice must state that the existing provider has passed the
exam.
(3) The notice must be lodged by a financial services licensee within
30 business days of the financial services licensee becoming aware
that the existing provider has passed the exam.
1546Z Obligation to notify ASIC of certain information after
banning order
(1) A notice must be lodged under this section, in the prescribed form,
if:
(a) a person was banned, disqualified or suspended under
Division 8 of Part 7.6 on 1 January 2019; and
(b) the person becomes a provisional relevant provider after that
day.
(2) The notice must include the day the person begins undertaking
work and training in accordance with subsection 921B(4).
(3) The notice must be lodged within 30 business days of the day
mentioned in subsection (2) by the financial services licensee on
whose behalf the person is authorised to provide personal advice to
retail clients in relation to relevant financial products.
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Transitional notices Division 3
Section 1546ZA
Corporations Act 2001 191
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1546ZA Offence for failing to lodge transitional notices
Section 922M applies as if a reference in that section to a notice
provision included a reference to a notice given under this
Division.
Note: Section 922M provides that a person commits an offence if a person
does not lodge certain notices.
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Part 10.23A Transitional provisions relating to the Corporations Amendment
(Professional Standards of Financial Advisers) Act 2017
Division 4 Review
Section 1546ZB
192 Corporations Act 2001
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Division 4—Review
1546ZB Review
The Minister must cause a review of Divisions 8A, 8B and 8C of
Part 7.6, as inserted by the amending Act, to be commenced before
31 December 2026.
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Transitional provisions relating to the Corporations Legislation Amendment
(Deregulatory and Other Measures) Act 2014 Part 10.24
Section 1547
Corporations Act 2001 193
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Part 10.24—Transitional provisions relating to the
Corporations Legislation Amendment
(Deregulatory and Other Measures) Act
2014
1547 Definitions
In this Part:
amending Act means the Corporations Legislation Amendment
(Deregulatory and Other Measures) Act 2014.
1548 Application of amendments relating to calling of general
meetings
The amendments of section 249D made by Schedule 1 to the
amending Act do not apply in relation to a request made under that
section before the commencement of that Schedule.
1549 Application of amendments relating to directors’ reports for
listed companies
The amendments of section 300A made by Schedule 1 to the
amending Act apply in relation to directors’ reports for financial
years ending on or after the commencement of that Schedule.
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Chapter 10 Transitional provisions
Part 10.25 Transitional provisions relating to the Insolvency Practice Schedule
(Corporations)
Division 1 Introduction
Section 1550
194 Corporations Act 2001
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Part 10.25—Transitional provisions relating to the
Insolvency Practice Schedule
(Corporations)
Division 1—Introduction
1550 Simplified outline of this Part
This Part deals with the way this Act will apply when the
provisions of the Insolvency Law Reform Act 2016 begin to
operate.
Application of Part 2 of the Insolvency Practice Schedule
(Corporations)
A person registered as a liquidator before the commencement of
Part 1 of Schedule 2 to the Insolvency Law Reform Act 2016 will
continue to be registered and must comply with the requirements
and duties under Part 2 of the Insolvency Practice Schedule
(Corporations).
Application of Part 3 of the Insolvency Practice Schedule
(Corporations)
Part 3 of the Insolvency Practice Schedule (Corporations) will
apply to an external administration that starts on or after the
commencement of Part 1 of Schedule 2 to the Insolvency Law
Reform Act 2016 and to most ongoing administrations (but
generally only in relation to new events).
Proceedings before the Court or the Administrative Appeals
Tribunal
Proceedings already begun in the Court or the Administrative
Appeals Tribunal before the commencement of the amendments
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Part 10.25
Introduction Division 1
Section 1551
Corporations Act 2001 195
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made by Part 1 of Schedule 2 to the Insolvency Law Reform Act
2016 will continue under the old Act. Orders of the Court under the
old Act continue to have effect.
Regulations
Regulations may be made to deal with other transitional matters.
1551 Definitions
In this Part:
commencement day means the day on which Part 1 of Schedule 2
to the Insolvency Law Reform Act 2016 commences.
Insolvency Practice Schedule (Corporations) means Schedule 2 to
this Act, and includes rules made under section 105-1 of that
Schedule.
make, in relation to an order that is a direction, includes give.
new external administration of a company means an external
administration of a company that starts on or after the
commencement day.
old Act means the Corporations Act 2001, as in force immediately
before the commencement day and includes the old regulations.
old Act registrant has the meaning given by subsection 1553(4).
old Act registration day, in relation to a person, has the meaning
given by subsection 1555(2).
old regulations means the Corporations Regulations 2001, as in
force immediately before the commencement day.
ongoing external administration of a company means an external
administration of a company that started before the commencement
day and ends after that day.
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Part 10.25 Transitional provisions relating to the Insolvency Practice Schedule
(Corporations)
Division 1 Introduction
Section 1551
196 Corporations Act 2001
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order includes a direction.
registered: a person is registered as a liquidator, or as a liquidator
of a specified body corporate, at a particular time in the
circumstances set out in subsection 1552(2).
Register of Liquidators means the Register of Liquidators
established and maintained under section 15-1 of the Insolvency
Practice Schedule (Corporations).
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Transitional provisions relating to the Insolvency Practice Schedule (Corporations)
Part 10.25
Application of Part 2 of the Insolvency Practice Schedule (Corporations) and related
consequential amendments Division 2
Section 1552
Corporations Act 2001 197
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Division 2—Application of Part 2 of the Insolvency
Practice Schedule (Corporations) and related
consequential amendments
Subdivision A—Registering liquidators
1552 Applications for registration under the old Act
(1) If, before the commencement day:
(a) a person has applied for registration as a liquidator, or as a
liquidator of a specified body corporate, under section 1279
of the old Act; and
(b) the person’s application has not been refused; and
(c) the person is not registered before the commencement day as
a liquidator, or as a liquidator of a specified body corporate;
the application is taken never to have been made and ASIC must
refund any fee paid in relation to the application.
(2) A person is registered as a liquidator, or as a liquidator of a
specified body corporate, at a particular time if:
(a) a certificate of registration as a liquidator or as a liquidator of
a specified body corporate has been issued to the person
under subsection 1282(6) of the old Act before that time; and
(b) the day specified in the certificate as the day on which the
registration would begin occurs before the day on which that
time occurs.
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Part 10.25 Transitional provisions relating to the Insolvency Practice Schedule
(Corporations)
Division 2 Application of Part 2 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1553
198 Corporations Act 2001
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1553 Persons registered under the old Act continue to be registered
under the Insolvency Practice Schedule (Corporations)
Person registered under the old Act immediately before the
commencement day
(1) If a person is registered as a liquidator, or as a liquidator of a
specified body corporate, immediately before the commencement
day, on the commencement day the person is taken to be registered
as a liquidator under Subdivision B of Division 20 of the
Insolvency Practice Schedule (Corporations).
Person registered but suspended under the old Act before the
commencement day
(2) If:
(a) a person is registered as a liquidator, or as a liquidator of a
specified body corporate, before the commencement day; and
(b) that person’s registration is suspended before the
commencement day; and
(c) the period of the suspension does not expire before the
commencement day;
the person is taken to be registered as a liquidator under
Subdivision B of Division 20 of the Insolvency Practice Schedule
(Corporations) on the commencement day, but the person’s
registration is taken to be suspended under the Insolvency Practice
Schedule (Corporations) for a period that ends when the period of
the suspension under the old Act would have ended.
Note: The old Act registrant could apply under Subdivision F of Division 40
of the Insolvency Practice Schedule (Corporations) to have the
suspension lifted or shortened.
Circumstances in which person not taken to be registered
(3) Despite subsections (1) and (2), a person mentioned in one of those
subsections is not taken to be registered as a liquidator under
Subdivision B of Division 20 of the Insolvency Practice Schedule
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Section 1554
Corporations Act 2001 199
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(Corporations) on the commencement day if, at the beginning of
that day:
(a) the person is an insolvent under administration; or
(b) the person is dead.
Meaning of old Act registrant
(4) A person who is taken to be registered under Subdivision B of
Division 20 of the Insolvency Practice Schedule (Corporations)
because of this section is referred to as an old Act registrant.
1554 Old Act registrant’s details
(1) ASIC must enter on the Register of Liquidators, in relation to each
old Act registrant, the details prescribed under subsection 15-1(3)
of the Insolvency Practice Schedule (Corporations) that relate to
that old Act registrant.
(2) If ASIC holds information in relation to an old Act registrant
before the commencement day, ASIC may use and disclose the
information for the purposes of establishing and maintaining the
Register of Liquidators.
1555 Period of old Act registrant’s registration under the Insolvency
Practice Schedule (Corporations)
(1) The registration of an old Act registrant under the Insolvency
Practice Schedule (Corporations) is for a period ending on the first
anniversary of the old Act registration day for that person that
occurs on or after the commencement day.
(2) The old Act registration day in relation to a person who was
registered (or but for a suspension would have been registered) as a
liquidator, or as a liquidator of a specified body corporate,
immediately before the commencement day, is the day on which
that registration began.
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Part 10.25 Transitional provisions relating to the Insolvency Practice Schedule
(Corporations)
Division 2 Application of Part 2 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1556
200 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(3) To avoid doubt, the registration of an old Act registrant under the
Insolvency Practice Schedule (Corporations) may be renewed in
accordance with that Schedule.
1556 Conditions for old Act registrants—conditions under the
Insolvency Practice Schedule (Corporations)
To avoid doubt, a condition may be imposed on an old Act
registrant (or on a class that includes an old Act registrant) under
the Insolvency Practice Schedule (Corporations) in accordance
with that Schedule.
1557 Current conditions for old Act registrants—undertakings
under the old Act
Undertakings under the old Act
(1) If:
(a) an old Act registrant was required to give an undertaking
under paragraph 1292(9)(b) or (c) of the old Act; and
(b) that requirement is still in force immediately before the
commencement day;
it is a condition of the old Act registrant’s registration under the
Insolvency Practice Schedule (Corporations) that he or she gives
and complies with the undertaking.
(2) A condition imposed under subsection (1) is a current condition
imposed on the old Act registrant.
Varying etc. conditions of registration
(3) Subdivision C of Division 20 of the Insolvency Practice Schedule
(Corporations) applies to a condition imposed under subsection (1)
in the same way as it applies to a condition imposed by a
committee under the Insolvency Practice Schedule (Corporations).
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Part 10.25
Application of Part 2 of the Insolvency Practice Schedule (Corporations) and related
consequential amendments Division 2
Section 1558
Corporations Act 2001 201
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1558 Current conditions for old Act registrants—undertakings
under the ASIC Act
Undertakings under the ASIC Act
(1) If:
(a) before the commencement day, an old Act registrant gives
ASIC an undertaking under section 93AA of the ASIC Act to
engage in, or refrain from engaging in, conduct as a
liquidator, or as a liquidator of a specified body corporate;
and
(b) that undertaking is in force immediately before the
commencement day;
it is a condition of the old Act registrant’s registration under the
Insolvency Practice Schedule (Corporations) that he or she comply
with the undertaking.
(2) A condition imposed under subsection (1) is a current condition
imposed on the old Act registrant.
Enforcement of undertaking under the ASIC Act not affected
(3) Nothing in this section affects the application of section 93AA of
the ASIC Act in relation to a breach of an undertaking accepted
under that section.
1559 Old Act registrant registered as liquidator of a specified body
corporate
Old Act registrant may not accept further appointments
(1) If an old Act registrant was registered as a liquidator of a specified
body corporate immediately before the commencement day, it is a
condition of the old Act registrant’s registration under the
Insolvency Practice Schedule (Corporations) that he or she must
not accept any further appointments as external administrator of a
company.
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(Corporations)
Division 2 Application of Part 2 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1560
202 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) That condition is a current condition imposed on the old Act
registrant.
Registration cancelled once current administrations completed
(3) On the day immediately after the external administration of the
body corporate in relation to which the old Act registrant was
registered ends:
(a) the old Act registrant is taken to have lodged a request in the
approved form in accordance with paragraph 40-30(1)(f) of
the Insolvency Practice Schedule (Corporations) to have his
or her registration as a liquidator cancelled; and
(b) ASIC is taken to have cancelled the registration under
subsection 40-30(1) of the Insolvency Practice Schedule
(Corporations).
Old Act registrant applies for registration under section 20-5 of the
Insolvency Practice Schedule (Corporations)
(4) To avoid doubt, if the old Act registrant applies under section 20-5
of the Insolvency Practice Schedule (Corporations) to be registered
as a liquidator, and is registered in response to that application, this
section does not affect that registration.
1560 Old Act registrant chooses not to renew
Application of this section
(1) This section applies if an old Act registrant does not apply for
renewal of his or her registration under the Insolvency Practice
Schedule (Corporations) before his or her period of registration
under subsection 1555(1) ends (the expiry day).
Old Act registrant may not accept further appointments after
registration expires
(2) The old Act registrant is taken to be registered as a liquidator under
Subdivision B of Division 20 of the Insolvency Practice Schedule
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Section 1561
Corporations Act 2001 203
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(Corporations) after the expiry day, subject to a condition that he or
she must not accept any further appointments as external
administrator of a company.
(3) That condition is a current condition imposed on the old Act
registrant.
Registration cancelled once current administrations completed
(4) On the day immediately after all of the external administrations of
companies that the old Act registrant is entitled to carry out in
accordance with his or her current conditions ends:
(a) the old Act registrant is taken to have lodged a request in the
approved form in accordance with paragraph 40-30(1)(f) of
the Insolvency Practice Schedule (Corporations) to have his
or her registration as a liquidator cancelled; and
(b) ASIC is taken to have cancelled the registration under
subsection 40-30(1) of the Insolvency Practice Schedule
(Corporations).
Subdivision B—Annual returns and statements
1561 Application of obligation to lodge annual liquidator returns
Application of the Insolvency Practice Schedule (Corporations)
(1) Section 30-1 of the Insolvency Practice Schedule (Corporations)
applies in relation to liquidator return years that begin on or after
the commencement day.
Meaning of liquidator return year
(2) In working out the liquidator return year for an old Act registrant
under subsection 30-1(2) of the Insolvency Practice Schedule
(Corporations), “the day on which that registration first began”,
means “the old Act registration day for that person (as defined for
the purpose of Part 10.25 of this Act)”.
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(Corporations)
Division 2 Application of Part 2 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1562
204 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Annual statements under the old Act
(3) The repeal of section 1288 by Schedule 2 to the Insolvency Law
Reform Act 2016 applies in relation to liquidator return years
beginning on or after the commencement day.
Subdivision C—Notice requirements
1562 Notice of significant events
(1) If:
(a) within 2 years before the commencement day, an event of a
kind mentioned in subsection 35-1(1) of the Insolvency
Practice Schedule (Corporations) occurs in relation to an old
Act registrant; and
(b) the old Act registrant has not already informed ASIC in
writing of the event before the commencement day;
the old Act registrant must lodge with ASIC a notice, in the
approved form, relating to the event.
(2) The notice must be lodged:
(a) if the old Act registrant is or could reasonably be expected to
be aware of the event on or before the commencement day—
within one month after the commencement day; or
(b) if paragraph (a) is not satisfied, but the old Act registrant is
or could reasonably be expected to be aware of the event
after the commencement day—within one month after the
first day on which the old Act registrant is or could
reasonably be expected to be aware of the event.
(3) A person commits an offence if:
(a) the person is subject to a requirement under subsection (1)
within the period specified in subsection (2); and
(b) the person intentionally or recklessly fails to comply with the
requirement within that period.
Penalty: 100 penalty units.
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consequential amendments Division 2
Section 1563
Corporations Act 2001 205
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Subdivision D—Cancellation by ASIC under the old Act
1563 Request for cancellation made before the commencement day
(1) This section applies if:
(a) before the commencement day, a person requests ASIC
under section 1290 of the old Act to cancel the person’s
registration as a liquidator or as a liquidator of a specified
body corporate; and
(b) no decision by ASIC to cancel that registration has come into
effect before the commencement day.
(2) ASIC may not cancel the registration under section 1290 of the old
Act.
(3) However, for the purposes of paragraph 40-30(1)(f) of the
Insolvency Practice Schedule (Corporations), the person is taken to
have lodged a request with ASIC in the approved form to have the
person’s registration as a liquidator under the Insolvency Practice
Schedule (Corporations) cancelled.
(4) The amendments of section 1290 made by Schedule 2 to the
Insolvency Law Reform Act 2016 apply in relation to requests made
to ASIC under section 1290 on or after the commencement day.
1564 Decision to cancel registration made before the commencement
day
(1) This section applies if:
(a) before the commencement day, a decision is made by ASIC
under section 1290A of the old Act to cancel the registration
of a person as a liquidator, or as a liquidator of a specified
body corporate; and
(b) the decision has not come into effect before the
commencement day.
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(Corporations)
Division 2 Application of Part 2 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1565
206 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) On the commencement day, ASIC is taken to have made a decision
under section 40-30 of the Insolvency Practice Schedule
(Corporations) to cancel the registration of the person as a
liquidator.
(3) Section 40-35 of the Insolvency Practice Schedule (Corporations)
applies in relation to the decision as if the decision were made on
the commencement day.
Subdivision E—Disciplinary proceedings before the Board
1565 Matters not dealt with by the Board before the commencement
day
(1) If:
(a) an application has been made under section 1292 of the old
Act in relation to a person before the commencement day;
and
(b) the Board has not, before the commencement day:
(i) made an order in response to the application under
subsection 1292(2), (3), (4), (5), (6) or (7) of the old
Act; or
(ii) dealt with the person under subsection 1292(9) of the
old Act in response to the application; or
(iii) held a conference in relation to the application under
section 1294A;
the Board must cease its consideration of the matter on the
commencement day without making such an order, dealing with
the person under subsection 1292(9) of the old Act or convening
such a conference under section 1294A.
(2) If:
(a) the Board has ceased to consider a matter because of
subsection (1); and
(b) a conference has been convened in relation to the matter
under subsection 1294A(1), but not yet held;
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consequential amendments Division 2
Section 1566
Corporations Act 2001 207
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
the Chairperson of the Board need not give notice of the
conference under subsection 1294A(3) and the conference need not
be held.
(3) The fact that the Board has ceased to consider the matter does not
preclude the matter, or any aspect of the matter, from being dealt
with under Division 40 of the Insolvency Practice Schedule
(Corporations).
(4) To avoid doubt, nothing in this section affects any right or
obligation that any person has before the commencement day,
including any right to review, in relation to the application or the
consideration of the matter by the Board.
1566 Matters dealt with by the Board before the commencement day
(1) This section applies if:
(a) an application has been made under section 1292 of the old
Act in relation to a person before the commencement day;
and
(b) before the commencement day, the Board has:
(i) made an order in response to the application under
subsection 1292(2), (3), (4), (5), (6) or (7); or
(ii) dealt with the person under subsection 1292(9) in
response to the application; or
(iii) held a conference in relation to the application under
section 1294A.
(2) The old Act continues to apply in relation to:
(a) the decision to:
(i) make the order under subsection 1292(2), (3), (4), (5),
(6) or (7); or
(ii) deal with the matter under subsection 1292(9) in
response to the application; or
(iii) convene the conference under section 1294A; and
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Division 2 Application of Part 2 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1567
208 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) a decision made at the conference held under section 1294A;
and
(c) any process ordered under subsection 1294A(4) at the
conference held under that section; and
(d) the matter in relation to which the conference was held under
section 1294A before the commencement day.
(3) The same matter may not be dealt with under Division 40 of the
Insolvency Practice Schedule (Corporations).
1567 Matters which the Board refuses to deal with before the
commencement day
(1) This section applies if:
(a) an application has been made under section 1292 of the old
Act in relation to a person before the commencement day;
and
(b) before the commencement day, the Board has decided to
refuse to:
(i) make an order in response to the application under
subsection 1292(2), (3), (4), (5), (6) or (7); or
(ii) deal with the person under subsection 1292(9) in
response to the application; or
(iii) convene a conference in relation to the application
under section 1294A.
(2) The old Act continues to apply in relation to the decision to refuse
to make the order under subsection 1292(2), (3), (4), (5), (6) or (7),
deal with the matter under subsection 1292(9) in response to the
application or convene a conference under section 1294A.
(3) The same matter may not be dealt with under Division 40 of the
Insolvency Practice Schedule (Corporations).
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Part 10.25
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consequential amendments Division 2
Section 1568
Corporations Act 2001 209
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1568 Board considering terminating suspension before the
commencement day
(1) If:
(a) an application has been made under section 1295 of the old
Act to terminate the suspension of the registration of a person
as a liquidator, or as a liquidator of a specified body
corporate; and
(b) the Board has neither refused the application nor, by order,
terminated the suspension before the commencement day;
the Board must cease its consideration of the matter on the
commencement day without making such an order.
(2) If:
(a) the Board, under section 1295 of the old Act, is considering
of its own motion whether to terminate the suspension of the
registration of a person as a liquidator, or as a liquidator of a
specified body corporate; and
(b) the Board has not, by order, terminated the suspension before
the commencement day;
the Board must cease its consideration of the matter on the
commencement day without making such an order.
(3) The fact that the Board has ceased to consider the matter does not
preclude the matter from being dealt with under Division 40 of the
Insolvency Practice Schedule (Corporations).
1569 Sharing information between the Board and committees
(1) The Chair of a committee convened under Part 2 of the Insolvency
Practice Schedule (Corporations) may request the Chairperson of
the Board (the Board Chair) to give the committee any
information or document in the Board’s possession or control in
relation to a person who:
(a) is, or has at any time been, a registered liquidator under the
Insolvency Practice Schedule (Corporations); or
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Division 2 Application of Part 2 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1570
210 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) has at any time been registered as a liquidator, or as a
liquidator of a specified body corporate, under the old Act.
(2) The Board Chair must comply with the request within 10 business
days.
Subdivision F—Suspension, cancellation and disciplinary
action under the Insolvency Practice Schedule
(Corporations)
1570 Direction to comply with requirement to lodge documents etc.
Subdivision B of Division 40 of the Insolvency Practice Schedule
(Corporations) applies whether or not a requirement mentioned in
that Subdivision to lodge a document or give information or a
document arises before, on or after the commencement day.
1571 Suspension by ASIC under the Insolvency Practice Schedule
(Corporations)
(1) Section 40-25 of the Insolvency Practice Schedule (Corporations)
applies whether or not an event mentioned in subsection 40-25(1)
occurs before, on or after the commencement day.
(2) However, paragraph 40-25(1)(c) of the Insolvency Practice
Schedule (Corporations) does not apply in relation to the
cancellation of the registration of a person as a trustee under the
Bankruptcy Act 1966, as in force at any time before the
commencement day.
1572 Cancellation by ASIC under the Insolvency Practice Schedule
(Corporations)
(1) Section 40-30 of the Insolvency Practice Schedule (Corporations)
applies whether or not an event mentioned in subsection 40-30(1)
occurs before, on or after the commencement day.
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consequential amendments Division 2
Section 1573
Corporations Act 2001 211
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) However, paragraph 40-30(1)(c) of the Insolvency Practice
Schedule (Corporations) does not apply in relation to the
cancellation of the registration of a person as a trustee under the
Bankruptcy Act 1966, as in force at any time before the
commencement day.
1573 Show-cause notice under the Insolvency Practice Schedule
(Corporations)
Subdivision E of Division 40 of the Insolvency Practice Schedule
(Corporations) applies whether or not an event mentioned in
subsection 40-40(1) of the Schedule occurs before, on or after the
commencement day.
1574 Lifting or shortening suspension under the Insolvency Practice
Schedule (Corporations)
Subdivision F of Division 40 of the Insolvency Practice Schedule
(Corporations) applies whether or not a person’s registration as a
liquidator is suspended under a provision of the old Act or of the
Insolvency Practice Schedule (Corporations).
1575 Action initiated by industry bodies
Section 40-100 of the Insolvency Practice Schedule (Corporations)
applies, whether or not the grounds to which a notice under that
section relates arise because of an action, a failure to act or
circumstance that occurs before, on or after the commencement
day.
Subdivision G—Powers of the Court and other bodies
1576 Application of court powers under section 45-1 of the
Insolvency Practice Schedule (Corporations)
The Court may exercise its powers to make an order under
section 45-1 of the Insolvency Practice Schedule (Corporations),
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Division 2 Application of Part 2 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1577
212 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
whether or not the action or failure to act in relation to which, or
because of which, the order is made occurs before, on or after the
commencement day.
1577 Powers to deal with registration under the old Act on or after
the commencement day
(1) This section applies if, as a result of the continued application of
the old Act on or after the commencement day, a relevant body
may decide to register a person, or suspend or cancel the
registration of a person, as a liquidator or as a liquidator of a
specified body corporate under the old Act.
(2) A relevant body may instead:
(a) register the person, or suspend or cancel the registration of
the person, as a liquidator under the Insolvency Practice
Schedule (Corporations); and
(b) by order, modify the application of this Part or the
Insolvency Practice Schedule (Corporations) in relation to
the registration, or the suspension or cancellation of the
registration, of the person as a liquidator under the
Insolvency Practice Schedule (Corporations).
(3) In this section:
relevant body means ASIC, the Administrative Appeals Tribunal,
the Court or any other body.
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Part 10.25
Application of Part 3 of the Insolvency Practice Schedule (Corporations) and related
consequential amendments Division 3
Section 1578
Corporations Act 2001 213
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 3—Application of Part 3 of the Insolvency
Practice Schedule (Corporations) and related
consequential amendments
Subdivision A—Introduction
1578 Simplified outline of this Division
This Division deals with the way this Act will apply to external
administrations when the provisions of the Insolvency Practice
Schedule (Corporations) begin to operate.
New external administrations
The Insolvency Practice Schedule (Corporations) applies to
external administrations that start on or after the commencement of
the Insolvency Law Reform Act 2016 (called new external
administrations).
Ongoing external administrations
For external administrations that start before that day but are still
ongoing (called ongoing external administrations), the Insolvency
Practice Schedule (Corporations) applies in accordance with this
Division but usually only in relation to new events. Generally, the
old Act continues to apply to old events and processes that are
incomplete. There are some exceptions.
Old external administrations
For old external administrations that have ended but that may have
ongoing obligations or processes, in most cases the old Act
continues to apply.
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Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1579
214 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Subdivision B—General rules for Part 3
1579 Application of Part 3 of the Insolvency Practice Schedule
(Corporations)—general rules
New external administrations
(1) Part 3 of the Insolvency Practice Schedule (Corporations) applies
in relation to a new external administration of a company.
Ongoing external administrations
(2) Part 3 of the Insolvency Practice Schedule (Corporations) applies
in relation to an ongoing external administration of a company in
accordance with this Division.
Subdivision C—Remuneration and other benefits received by
external administrators
1580 Application of Division 60 of the Insolvency Practice Schedule
(Corporations)—general rule
Subdivision B to D of Division 60 of the Insolvency Practice
Schedule (Corporations) applies in relation to an external
administrator of a company under ongoing external administration
who is appointed on or after the commencement day.
1581 Old Act continues to apply in relation to remuneration for
administrators already appointed
(1) Despite the repeal of sections 449E and 473 and the repeal and
substitution of subsections 499(3) to (7) of the old Act by
Schedule 2 to the Insolvency Law Reform Act 2016, the old Act
continues to apply in relation to the remuneration of an external
administrator of a company who is appointed before the
commencement day.
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consequential amendments Division 3
Section 1582
Corporations Act 2001 215
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) Despite subsection (1), if, under Subdivision F of this Division,
Division 75 of the Insolvency Practice Schedule (Corporations)
rather than the old Act would apply to a meeting that deals with the
remuneration of an external administrator of a company who is
appointed before the commencement day, Division 75 of the
Insolvency Practice Schedule (Corporations) applies to that
meeting.
1582 Duties of administrators relating to remuneration and other
benefits
(1) Section 60-20 of the Insolvency Practice Schedule (Corporations)
applies in relation to an external administrator of an ongoing
external administration of a company whether or not the
administrator was appointed before, on or after the commencement
day.
(2) However, that section does not apply in relation to arrangements
made before the commencement day.
1583 Old Act continues to apply in relation to any right of indemnity
(1) This section applies if the remuneration of an external
administrator of a company is fixed under section 449E of the old
Act:
(a) before the commencement day; or
(b) on or after the commencement day (in accordance with a
provision of this Division).
(2) Despite the repeal of that section and the amendment of
paragraph 443D(b) of the old Act by Schedule 2 to the Insolvency
Law Reform Act 2016, the old Act continues to apply in relation to
any right of indemnity that the external administrator has as if that
repeal and amendment had not happened.
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Part 10.25 Transitional provisions relating to the Insolvency Practice Schedule
(Corporations)
Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1584
216 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1584 Application of new provisions about vacancies of
court-appointed liquidator
Subsection 473A(1) (as inserted by Schedule 2 to the Insolvency
Law Reform Act 2016) applies whether or not the vacancy in the
office of liquidator occurred before, on or after the commencement
day.
1585 Application of new provisions about exercise of powers while
company under external administration
Application of new section 198G
(1) Section 198G (as inserted by Schedule 2 to the Insolvency Law
Reform Act 2016) applies in relation to an exercise of power or a
performance of a function that occurs on or after the
commencement day.
Approval under old Act continues to have effect
(2) If, under subsection 499(4) of the old Act, a committee of
inspection or the company’s creditors give approval for a director
of the company to continue to perform or exercise the director’s
powers or functions, subsections 198G(1) and (2) (as inserted by
Schedule 2 to the Insolvency Law Reform Act 2016) do not apply in
relation to the director.
Subdivision D—Funds handling
1586 Application of Division 65 of the Insolvency Practice Schedule
(Corporations)—general rule
Division 65 of the Insolvency Practice Schedule (Corporations)
applies in relation to an ongoing external administration of a
company.
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consequential amendments Division 3
Section 1587
Corporations Act 2001 217
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1587 Administration account
If, immediately before the commencement day, a person has a
liquidator’s general account in relation to the external
administration of:
(a) a company; or
(b) a company in a pooled group;
the account is taken on and after the commencement day to be an
administration account for the company for the purposes of
section 65-5 of the Insolvency Practice Schedule (Corporations).
1588 Paying money into administration account
Application of the Insolvency Practice Schedule (Corporations)
(1) Sections 65-5 and 65-15 of the Insolvency Practice Schedule
(Corporations) do not apply in relation to money received before
the commencement day.
Old regulations continue to apply to money received before
commencement
(2) Paragraph 5.6.06(1)(b) of the old regulations continues to apply in
relation to money received before the commencement day.
1589 Paying money out of administration account
Section 65-25 of the Insolvency Practice Schedule (Corporations)
does not apply in relation to money paid out of an administration
account before the commencement day.
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Part 10.25 Transitional provisions relating to the Insolvency Practice Schedule
(Corporations)
Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1590
218 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1590 Handling securities
Application of the Insolvency Practice Schedule (Corporations)
(1) Section 65-40 of the Insolvency Practice Schedule (Corporations)
does not apply in relation to negotiable instruments and other
securities received before the commencement day.
Old regulations continue to apply to money received before
commencement
(2) Regulation 5.6.07 of the old regulations continues to apply in
relation to bills, notes and other securities received before the
commencement day.
Subdivision E—Information
1591 Application of Division 70 of the Insolvency Practice Schedule
(Corporations)—general rule
Division 70 of the Insolvency Practice Schedule (Corporations)
applies in relation to an ongoing external administration of a
company.
1592 Accounts and administration returns
Administration returns for 2017-18 and later years
(1) Sections 70-5 and 70-6 of the Insolvency Practice Schedule
(Corporations) apply in relation to the financial year starting on
1 July 2017 and later financial years.
Accounts under old Act
(2) Subsection (3) of this section applies in relation to the repeal of
each of the following sections of the old Act by Schedule 2 to the
Insolvency Law Reform Act 2016:
(a) 438E;
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Section 1593
Corporations Act 2001 219
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) 445J;
(c) 539.
(3) To the extent that a repealed section relates to a period for which
an account or statement must be lodged:
(a) the repeal of the section applies in relation to periods starting
on or after 1 July 2017; and
(b) the section applies in relation to periods starting before 1 July
2017 and ending after that day as if the period ends on
30 June 2017.
Continuation of audits under old Act
(4) For the avoidance of doubt, despite the repeal of a section
mentioned in subsection (2) by Schedule 2 to the Insolvency Law
Reform Act 2016, audits may be continued under that section in
relation to accounts lodged under that section as if the old Act
continued to apply.
1593 Administration books
Application of the Insolvency Practice Schedule (Corporations)
(1) Section 70-10 of the Insolvency Practice Schedule (Corporations)
does not apply in relation to events:
(a) that occur before the commencement day; and
(b) in respect of which, or because of which, entries or minutes
are to be made.
Old Act continues to apply to events etc. before commencement day
(2) Despite the repeal of section 531 of the old Act by Schedule 2 to
the Insolvency Law Reform Act 2016, that section continues to
apply in relation to events:
(a) that occur before the commencement day; and
(b) in respect of which, or because of which, entries or minutes
must be made.
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Part 10.25 Transitional provisions relating to the Insolvency Practice Schedule
(Corporations)
Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1594
220 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1594 Audit of administration books
Sections 70-15 to 70-25 of the Insolvency Practice Schedule
(Corporations) apply to books relating to an ongoing external
administration whether or not the books are kept under a provision
of the old Act or of the Insolvency Practice Schedule
(Corporations).
1595 Transfer of administration books
Application of the Insolvency Practice Schedule (Corporations)
(1) Sections 70-30 and 70-31 of the Insolvency Practice Schedule
(Corporations) apply in relation to a person who ceases to be the
external administrator of a company on or after the commencement
day.
Application of repeal of old Act
(2) The repeal of section 1298A of the old Act by Schedule 2 to the
Insolvency Law Reform Act 2016 applies in relation to a person
whose registration as a liquidator is cancelled or suspended on or
after the commencement day.
1596 Retention and destruction of administration books
Application of the Insolvency Practice Schedule (Corporations)
(1) To avoid doubt, section 70-35 of the Insolvency Practice Schedule
(Corporations) applies to books relating to an ongoing external
administration whether or not the books were kept under a
provision of the old Act or of the Insolvency Practice Schedule
(Corporations).
Old Act continues to apply in relation to books for old external
administrations
(2) If:
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Section 1597
Corporations Act 2001 221
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(a) an external administration of a company ends before the
commencement day; and
(b) immediately before that day, a person was required under
section 542 of the old Act to retain books of the company for
a period; and
(c) but for the repeal of that section by Schedule 2 to the
Insolvency Law Reform Act 2016, that period would have
ended on or after the commencement day;
section 542 of the old Act continues to apply (despite its repeal by
Schedule 2 to the Insolvency Law Reform Act 2016) on and after
the commencement day in relation to the person for the remainder
of that period.
Continued effect of consent by ASIC under old Act
(3) If before the commencement day, a person is entitled under
subsections 542(3) and (4) of the old Act to destroy books of a
company (or of the person’s that are relevant to the affairs of the
company) then, despite section 70-35 of the Insolvency Practice
Schedule (Corporations), those books may be destroyed.
1597 Giving information to creditors etc.
Subdivision D of Division 70 of the Insolvency Practice Schedule
(Corporations) applies whether or not the information, report or
document referred to in subsection 70-40(1), 70-45(1), 70-46(2),
70-47(2) or 70-50(1) of the Insolvency Practice Schedule
(Corporations):
(a) was obtained or generated; or
(b) was made or prepared; or
(c) is in respect of actions or events that occurred;
before, on or after the commencement day.
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Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1598
222 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
1598 Commonwealth may request information
Section 70-55 of the Insolvency Practice Schedule (Corporations)
applies whether or not the information, report or document referred
to in subsection 70-55(2):
(a) was obtained or generated; or
(b) was made or prepared; or
(c) is in respect of actions or events that occurred;
before, on or after the commencement day.
1599 Reporting to ASIC
Section 70-60 of the Insolvency Practice Schedule (Corporations)
applies whether or not the information, report or document referred
to in subsection 70-60(1):
(a) was obtained or generated; or
(b) was made or prepared; or
(c) is in respect of actions or events that occurred;
before, on or after the commencement day.
1600 Old Act continues to apply in relation to notices to remedy
default
Despite its repeal by Schedule 2 to the Insolvency Law Reform Act
2016, section 540 of the old Act continues to apply in relation to a
notice mentioned in that section that is served on a person before
the commencement day.
Subdivision F—Meetings
1601 Application of Division 75 of the Insolvency Practice Schedule
(Corporations)—general rule
(1) Division 75 of the Insolvency Practice Schedule (Corporations)
applies in relation to an ongoing external administration of a
company.
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consequential amendments Division 3
Section 1602
Corporations Act 2001 223
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) However, Division 75 of the Insolvency Practice Schedule
(Corporations) does not apply in relation to meetings convened or
held before the commencement day.
1602 External administrator must convene meetings in certain
circumstances
Application of the Insolvency Practice Schedule (Corporations)
(1) Section 75-15 of the Insolvency Practice Schedule (Corporations)
does not apply in relation to:
(a) directions given before the commencement day; or
(b) resolutions passed before the commencement day.
Old Act continues to apply in relation to resolutions for voluntary
winding up passed before commencement day
(2) Despite their repeal by Schedule 2 to the Insolvency Law Reform
Act 2016:
(a) sections 497 and 498 of the old Act continue to apply on and
after the commencement day in relation to a resolution for
voluntary winding up that is passed before the
commencement day; and
(b) subsection 477(4) of the old Act continues to apply on and
after the commencement day if a meeting of creditors has not
been held under section 497 of the old Act in relation to a
voluntary winding up a resolution for which is passed before
the commencement day.
1603 Old Act continues to apply in relation to reporting for first
year of administration
(1) This section applies if, in relation to a company, a year mentioned
in subsection 508(1) of the old Act starts before the
commencement day but ends after that day.
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(Corporations)
Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1604
224 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) Despite its repeal by Schedule 2 to the Insolvency Law Reform Act
2016, section 508 of the old Act continues to apply on and after the
commencement day in relation to the company for that year.
1604 Old Act continues to apply to the deregistration of companies
The repeal and substitution of section 509 by Schedule 2 to the
Insolvency Law Reform Act 2016 applies where the external
administration of the company ends during a financial year starting
on or after 1 July 2017.
1605 Old Act continues to apply for certain meetings convened etc.
before commencement day
(1) If:
(a) the administrator of a company under external administration
is required to convene a meeting of the company’s creditors
under section 439A of the old Act; and
(b) the convening period for the meeting as fixed by
subsection 439A(5) of the old Act (or extended under
subsection (6) of that section) ends on or after the
commencement day; and
(c) as at the commencement day, the meeting has not been
convened;
then the old Act continues to apply on and after the
commencement day (despite the repeal of subsections 439A(3) and
(4) and section 439B by Schedule 2 to the Insolvency Law Reform
Act 2016) in relation to the meeting.
(2) Despite the repeal of section 445F of the old Act and the
amendment of section 445A of the old Act by Schedule 2 to the
Insolvency Law Reform Act 2016, those sections continue to apply
on and after the commencement day in relation to meetings for
which a notice under subsection 445F(2) is given before the
commencement day.
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consequential amendments Division 3
Section 1606
Corporations Act 2001 225
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(3) Despite its repeal by Schedule 2 to the Insolvency Law Reform Act
2016, section 479 of the old Act continues to apply on and after the
commencement day in relation to meetings which have been
convened under subsection 479(2) or for which a direction or
request is given under that subsection before the commencement
day.
(4) Despite the amendment of subsection 496(8) of the old Act by
Schedule 2 to the Insolvency Law Reform Act 2016, that subsection
continues to apply on and after the commencement day in relation
to meetings convened before the commencement day as if the
amendment had not been made.
1606 Outcome of voting at creditors’ meeting determined by related
entity or on casting vote—Court powers
Sections 75-41 to 75-45 of the Insolvency Practice Schedule
(Corporations) apply whether a proposal has been voted on or a
resolution passed before, on or after the commencement day.
Subdivision G—Committees of inspection
1607 Application of Division 80 of the Insolvency Practice Schedule
(Corporations)—general rules
(1) Division 80 of the Insolvency Practice Schedule (Corporations)
applies in relation to a committee of inspection for an ongoing
external administration of a company:
(a) that is appointed under that Division on or after the
commencement day; or
(b) that is appointed under a provision of the old Act but is taken
to be a committee of inspection under subsection 1608(2) of
this Subdivision.
(2) However, Division 80 of the Insolvency Practice Schedule
(Corporations) does not apply in relation to meetings of, or related
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Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1608
226 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
to, the committee of inspection convened or held before the
commencement day.
1608 Appointing committees of inspection
Committees appointed under old Act taken to be committee of
inspection
(1) Subsection (2) applies if there is, in relation to the external
administration of a company:
(a) a committee of creditors validly appointed under
section 436E of the old Act; or
(b) a committee of inspection validly appointed under
section 548 of the old Act; or
(c) a committee of inspection validly appointed under
section 548A of the old Act.
(2) On and after the day specified in subsection (3), the committee (the
continued committee) is taken for the purposes of the Insolvency
Practice Schedule (Corporations) to be:
(a) in the case of a committee appointed under section 436E or
548 of the old Act—a committee of inspection established
under section 80-10 of the Insolvency Practice Schedule
(Corporations) in relation to the external administration of
the company; and
(b) in the case of a committee appointed under section 548A of
the old Act—a committee of inspection established under
section 80-26 of the Insolvency Practice Schedule
(Corporations) in relation to a pooled group of which the
company is a member.
(3) For the purposes of subsection (2), the day is:
(a) in the case of a committee appointed on or before the
commencement day—the commencement day; and
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Section 1609
Corporations Act 2001 227
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) in the case of a committee appointed on a day that is after the
commencement day in accordance with a provision of this
section—that later day.
Old Act continues to apply to certain meetings
(4) If:
(a) because of the operation of section 436E, 548 or 548A (the
repealed section) of the old Act before the commencement
day, the administrator or liquidator of a company is required
to convene a meeting; and
(b) as at the commencement day, the meeting has not been
convened;
then (despite their repeal by Schedule 2 to the Insolvency Law
Reform Act 2016) the repealed sections of the old Act continue to
apply on and after the commencement day in relation to the
meeting.
1609 Old Act continues to apply to certain reports by administrator
If, before the commencement day, the administrator of a company
under administration is directed under subsection 436F(3) of the
old Act to give a report, then despite the repeal of section 436F by
Schedule 2 to the Insolvency Law Reform Act 2016, that section
continues to apply on and after commencement day in relation to
the report.
1610 Membership of continued committees
Members of continued committees
(1) The members of a continued committee are the members appointed
to the committee under section 436E (in accordance with
section 436G), 548 or 548A of the old Act, as the case requires.
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Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
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Section 1611
228 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Old Act continues to apply to members of continued committees
(2) If a person is a member of a continued committee, then despite the
repeal of:
(a) section 436G, 548 or 548A (and any regulations made under
that section), as the case requires; and
(b) section 550;
by Schedule 2 to the Insolvency Law Reform Act 2016, those
provisions continue to apply in relation to the person.
Application of the Insolvency Practice Schedule (Corporations)
(3) The following provisions do not apply in relation to members of a
continued committee:
(a) sections 80-15 to 80-25 and paragraph 80-26(2)(b) of the
Insolvency Practice Schedule (Corporations);
(b) Insolvency Practice Rules made under section 80-30 of the
Insolvency Practice Schedule (Corporations) that relate to
membership of a committee of inspection.
Note: However, the committee could dissolve and the members could form a
new committee to which these provisions would then apply.
1611 Validity of appointment under section 548 of the old Act not
affected by lack of separate meeting of contributories
(1) The appointment of a committee of inspection under section 548 of
the old Act before the commencement day is not invalid merely
because a separate meeting of contributories was not convened for
the purposes of determining:
(a) whether a committee of inspection should be appointed; and
(b) where a committee of inspection is to be appointed:
(i) the numbers of members to represent the creditors and
the contributories, respectively; and
(ii) the persons who are to be members of the committee
representing creditors and contributories, respectively.
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consequential amendments Division 3
Section 1612
Corporations Act 2001 229
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) However, if:
(a) a debt or claim has been paid in the winding up of a company
before the commencement day; and
(b) the priority given to the debt or claim was determined under
section 556 of the Corporations Act 2001 on the basis that a
committee of inspection was not validly appointed because a
separate meeting of contributories was not convened for the
purposes mentioned in paragraphs (1)(a) and (b); and
(c) but for subsection (1), the committee of inspection would not
have been validly appointed;
the priority of the payment is not affected by subsection (1).
1612 Continued application of directions by creditors or committees
under the old Act
Sections 80-35 and 85-5 of the Insolvency Practice Schedule
(Corporations) apply whether or not the direction is given before,
on or after the commencement day.
1613 Committee of inspection may request information
Section 80-40 of the Insolvency Practice Schedule (Corporations)
applies whether or not the information, report or document referred
to in subsection 80-40(1):
(a) was obtained or generated; or
(b) was made or prepared; or
(c) is in respect of actions or events that occurred;
before, on or after the commencement day.
1614 Duties of members of committee of inspection and creditors
relating to profits and advantages etc.
Sections 80-55 and 80-60 of the Insolvency Practice Schedule
(Corporations) apply to arrangements made on or after the
commencement day.
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Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1615
230 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Subdivision H—Review of the external administration of a
company
1615 Application of Division 90 of the Insolvency Practice Schedule
(Corporations)—general rule
Division 90 of the Insolvency Practice Schedule (Corporations)
applies in relation to an ongoing external administration whether or
not the matter to be reviewed occurred before, on or after the
commencement day.
1616 Application of the Insolvency Practice Schedule (Corporations)
provisions that conflict with old Act Court orders—
general rule
(1) This section applies if a court makes an order in relation to a
person or the external administration of a company under the old
Act (the old Act order).
(2) The old Act order does not cease to have effect because a provision
of the old Act under which it was made has been amended or
repealed by Schedule 2 to the Insolvency Law Reform Act 2016.
(3) If the old Act order is inconsistent with a provision of this Act that
is amended or inserted by Schedule 2 to the Insolvency Law
Reform Act 2016, then, subject to this Part, the provision does not
apply to the extent that it is inconsistent with the old Act order.
1617 Old Act continues to apply in relation to ongoing proceedings
before a court—general rule
(1) This section applies if proceedings are brought under the old Act in
a court (on application or on the initiative of the court) in relation
to the external administration of a company either:
(a) before the commencement day; or
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Section 1618
Corporations Act 2001 231
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) on or after the commencement day (in accordance with a
provision of this Division).
(2) Subject to this Part, nothing in Schedule 2 to the Insolvency Law
Reform Act 2016 affects:
(a) the proceedings; or
(b) the power of the court to make orders in relation to the
proceedings; or
(c) any orders made by the court in relation to the proceedings;
or
(d) any enforcement in relation to, or as a result of, the
proceedings (including giving effect to any court orders); or
(e) any appeal or review in relation to the proceedings.
(3) Subject to this Part, the old Act continues to apply on and after the
commencement day in relation to the proceedings despite the
amendments and repeals made by Schedule 2 to the Insolvency
Law Reform Act 2016.
(4) In this section:
proceedings include civil and criminal proceedings, inquiries by
the court, enforcement processes and any other processes.
1618 Court powers to inquire into and make orders
Application of the Insolvency Practice Schedule (Corporations)
(1) Subsections (2) to (4) are for the avoidance of doubt.
(2) Sections 90-5 and 90-10 of the Insolvency Practice Schedule
(Corporations) apply whether or not the information, report or
document mentioned in subsections 90-5(2) and 90-10(4) was
prepared before, on or after the commencement day.
(3) Paragraph 90-15(3)(f) of the Insolvency Practice Schedule
(Corporations) applies whether or not the remuneration is paid or
payable before, on or after the commencement day.
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Division 3 Application of Part 3 of the Insolvency Practice Schedule (Corporations)
and related consequential amendments
Section 1619
232 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(4) Subsection 90-15(4) of the Insolvency Practice Schedule
(Corporations) applies whether or not the action or failure to act
occurred before, on or after the commencement day.
Old Act continues to apply for inquiries started under section 536
(5) Despite the repeal of section 536 of the old Act by Schedule 2 to
the Insolvency Law Reform Act 2016, that section continues to
apply in relation to inquiries commenced by ASIC before the
commencement day (including inquiries commenced because of
the extension of section 536 by subsection 411(9) to persons
appointed under the terms of a compromise or arrangement).
Application of new section 599
(6) Section 599 (as inserted by Schedule 2 to the Insolvency Law
Reform Act 2016) applies whether or not the act, omission or
decision occurred before, on or after the commencement day.
1619 Review by another registered liquidator
(1) The following subsections are for the avoidance of doubt.
(2) Sections 90-24 and 90-26 of the Insolvency Practice Schedule
(Corporations) apply whether or not:
(a) the remuneration is paid or payable; or
(b) the cost or expense is incurred or paid;
before, on or after the commencement day.
(3) A period determined by the Court under paragraph 90-26(4)(d) of
the Insolvency Practice Schedule (Corporations) or prescribed
under paragraph 90-26(4)(c) may include a period that:
(a) starts before the commencement day but ends after that day;
or
(b) starts and ends before the commencement day.
(4) Section 90-28 of the Insolvency Practice Schedule (Corporations)
applies whether or not the books or information mentioned in
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Application of Part 3 of the Insolvency Practice Schedule (Corporations) and related
consequential amendments Division 3
Section 1620
Corporations Act 2001 233
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paragraph 90-28(2)(a) were prepared before, on or after the
commencement day.
(5) Rules made for the purposes of section 90-29 of the Insolvency
Practice Schedule (Corporations) in relation to the meaning of
properly incurred may make provision for or in relation to costs
and expenses incurred before, on or after the commencement day.
1620 Removal by creditors
For the avoidance of doubt, section 90-35 of the Insolvency
Practice Schedule (Corporations) applies whether or not the
external administrator was appointed before, on or after the
commencement day.
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Part 10.25 Transitional provisions relating to the Insolvency Practice Schedule
(Corporations)
Division 4 Administrative review
Section 1621
234 Corporations Act 2001
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Division 4—Administrative review
1621 Administrative Appeals Tribunal proceedings
(1) This section applies if an application is made to the Administrative
Appeals Tribunal for review of a decision made under the old Act
either:
(a) before the commencement day; or
(b) on or after the commencement day (in accordance with a
provision of this Part).
(2) Subject to this Part, nothing in the Insolvency Law Reform Act
2016 affects:
(a) any proceedings before the Administrative Appeals Tribunal
in relation to the decision; or
(b) the powers of the Administrative Appeals Tribunal in relation
to the decision; or
(c) any enforcement in relation to, or as a result of, a decision of
the Administrative Appeals Tribunal in relation to the
decision; or
(d) any appeal or review in relation to a decision of the
Administrative Appeals Tribunal in relation to the decision.
(3) Subject to this Part, the old Act continues to apply on and after the
commencement day in relation to the proceedings despite the
amendments and repeals made by Schedule 2 to the Insolvency
Law Reform Act 2016.
Applications for review made after the commencement day
(4) Despite the repeals and amendments made by the Insolvency Law
Reform Act 2016, applications may be made to the Administrative
Appeals Tribunal for review of the decision.
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Application of other consequential amendments Division 5
Section 1622
Corporations Act 2001 235
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Division 5—Application of other consequential
amendments
1622 Outcome of voting at creditors’ meeting determined by related
entity or on casting vote—Court powers
Sections 415A to 415C, as inserted by the Insolvency Law Reform
Act 2016, apply whether a proposed resolution has been voted on
before, on or after the commencement day.
1623 Returns and accounts by controllers
Returns by controllers for 2017-18 and later years
(1) Sections 422A and 422B, as inserted by Schedule 2 to the
Insolvency Law Reform Act 2016, apply in relation to the financial
year starting on 1 July 2017 and later financial years.
Accounts under old Act
(2) Subsection (3) of this section applies in relation to the amendment
of section 432 of the old Act by Schedule 2 to the Insolvency Law
Reform Act 2016.
(3) To the extent that section 432 of the old Act relates to a period for
which an account must be lodged:
(a) the amendment of the section applies in relation to periods
starting on or after 1 July 2017; and
(b) the unamended section applies in relation to periods starting
before 1 July 2017 and ending after that day as if the period
ends on 30 June 2017.
Continuation of audits under old Act
(4) For the avoidance of doubt, despite the amendment of section 432
of the old Act by Schedule 2 to the Insolvency Law Reform Act
2016, audits may be continued under that section in relation to
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Part 10.25 Transitional provisions relating to the Insolvency Practice Schedule
(Corporations)
Division 5 Application of other consequential amendments
Section 1624
236 Corporations Act 2001
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accounts lodged under that section as if the old Act continued to
apply.
1624 Transfer of books by a controller to a new controller or ASIC
Sections 422C and 422D, as inserted by Schedule 2 to the
Insolvency Law Reform Act 2016, apply in relation to a person who
ceases to act as a controller of property of a corporation on or after
the commencement day.
1625 Officers reporting to controller about corporation’s affairs
The amendment of paragraph 429(2)(b) by Schedule 2 to the
Insolvency Law Reform Act 2016 applies in relation to notices
received on or after the commencement day.
1626 Lodging notice of execution of a deed of company arrangement
The amendment of paragraph 450B(c), and substitution with
paragraph 450B(b), by Schedule 2 to the Insolvency Law Reform
Act 2016 applies in relation to deeds of company arrangement
executed on or after the commencement day.
1627 Office of liquidator appointed by the Court
Vacancies in office of liquidator appointed by the Court
(1) Despite the repeal of section 473 of the old Act by Schedule 2 to
the Insolvency Law Reform Act 2016, that section continues to
apply in relation to a vacancy in the office of a liquidator appointed
by the Court that occurs before the commencement day.
(2) Section 473A, as inserted by Schedule 2 to the Insolvency Law
Reform Act 2016, applies in relation to vacancies in the office of a
liquidator appointed by the Court that occur on or after the
commencement day.
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Application of other consequential amendments Division 5
Section 1628
Corporations Act 2001 237
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Where there are 2 or more liquidators appointed by the Court
(3) Subsections 473A(4) and (5), as inserted by Schedule 2 to the
Insolvency Law Reform Act 2016, apply in relation to 2 or more
liquidators appointed by the Court, whether the liquidators were
appointed before, on or after the commencement day.
1628 Report as to company’s affairs to be submitted to liquidator
(1) The amendments of section 475 by Schedule 2 to the Insolvency
Law Reform Act 2016 apply where a winding up order is made on
or after the commencement day.
(2) The repeal of section 476 of the old Act by Schedule 2 to the
Insolvency Law Reform Act 2016 applies where a report referred to
in subsection 475(1) or (2) is received on or after the
commencement day.
1629 Orders for release or deregistration
Despite the amendment of paragraph 481(1)(a) by Schedule 2 to
the Insolvency Law Reform Act 2016, that paragraph continues to
apply in relation to auditors appointed by ASIC under section 539
of the old Act.
1630 Meeting relating to the voluntary winding up of a company
The repeal and substitution of section 506A by Schedule 2 to the
Insolvency Law Reform Act 2016 applies where the resolution for
the voluntary winding up of a company is passed on or after the
commencement day.
1631 Pooling determinations
(1) The repeal of sections 574 to 576 of the old Act by Schedule 2 to
the Insolvency Law Reform Act 2016 apply where a pooling
determination is made or varied on or after the commencement
day.
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(Corporations)
Division 5 Application of other consequential amendments
Section 1632
238 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) Subsection 577(1A), as inserted by Schedule 2 to the Insolvency
Law Reform Act 2016, applies where a pooling determination is
made or varied on or after the commencement day.
(3) The repeal of subsection 577(2) of the old Act by Schedule 2 to the
Insolvency Law Reform Act 2016 applies to resolutions agreed on
or after the commencement day.
1632 Electronic methods of giving or sending certain notices
(1) If:
(a) a notice or other document was authorised or required to be
given or sent under a provision of the old Act mentioned in a
paragraph of subsection 600G(1) that is repealed by
Schedule 2 to the Insolvency Law Reform Act 2016; and
(b) although the authorisation or requirement arose before the
commencement day, the notice or other document is required
to be given or sent on or after the commencement day;
that paragraph of subsection 600G(1) continues to apply in relation
to the giving or sending of the notice or other document.
(2) Subsections 600G(4) and (4A), as inserted by Schedule 2 to the
Insolvency Law Reform Act 2016, apply in relation to notices or
other documents given or sent on or after the commencement day.
1633 Deregistration following winding up
(1) If, on or after the commencement day, the Court orders the
deregistration of a company under subsection 509(6) of the old
Act, subsection 601AC(1) of the old Act continues to apply in
relation to the order.
(2) Subsection 601AC(2) of the old Act continues to apply in relation
to a company for which a return has been lodged under section 509
before the commencement day.
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Part 10.25
Regulations Division 6
Section 1634
Corporations Act 2001 239
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Division 6—Regulations
1634 Regulations
(1) The Governor-General may make regulations prescribing matters
of a transitional nature (including prescribing any saving or
application provisions) relating to the amendments and repeals
made by Schedule 2 to the Insolvency Law Reform Act 2016.
(2) The regulations may provide that certain provisions of Schedule 2
to the Insolvency Law Reform Act 2016 are taken to be modified as
set out in the regulations. Those provisions then have effect as if
they were so modified.
(3) The provisions of Schedule 2 to the Insolvency Law Reform Act
2016 that provide for regulations to deal with matters do not limit
each other.
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Chapter 10 Transitional provisions
Part 10.26 Transitional provisions relating to Schedule 3 to the Insolvency Law
Reform Act 2016
Section 1635
240 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 10.26—Transitional provisions relating to
Schedule 3 to the Insolvency Law Reform
Act 2016
1635 Application of amendments made by Schedule 3 to the
Insolvency Law Reform Act 2016
(1) The amendment made by Part 1 of Schedule 3 to the Insolvency
Law Reform Act 2016 applies in relation to the administration of a
company that begins on or after the commencement of that
Schedule.
(2) The amendment made by Part 2 of Schedule 3 to the Insolvency
Law Reform Act 2016 applies in relation to material
contraventions, and likely material contraventions, of a deed of
company arrangement that occur on or after the commencement of
that Schedule, regardless of when the deed was executed.
(3) The amendment made by item 9 of Part 4 of Schedule 3 to the
Insolvency Law Reform Act 2016 applies in relation to deeds of
company arrangement that are terminated on or after the
commencement of that Schedule.
(4) The amendments made by Part 5 of Schedule 3 to the Insolvency
Law Reform Act 2016 apply for the purposes of working out the
relation-back day in relation to a winding up of a company or
Part 5.7 body starting on or after the commencement of that
Schedule.
(5) The amendments made by items 22, 23, 25, 26, 29 and 30 of Part 6
of Schedule 3 to the Insolvency Law Reform Act 2016 apply in
relation to declarations made after the commencement of that
Schedule.
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Part 10.26
Section 1635
Corporations Act 2001 241
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(6) The amendment made by item 28 of Part 6 of Schedule 3 to the
Insolvency Law Reform Act 2016 applies in relation to resolutions
passed on or after the commencement of that Schedule.
(7) The amendments made by items 31 and 32 of Part 6 of Schedule 3
to the Insolvency Law Reform Act 2016 apply in relation to orders
made on or after the commencement of that Schedule.
(8) The amendment made by item 33 of Part 6 of Schedule 3 to the
Insolvency Law Reform Act 2016 applies in relation to orders and
declarations made on or after the commencement of that Schedule.
(9) The amendment made by item 34 of Part 6 of Schedule 3 to the
Insolvency Law Reform Act 2016 applies whether the payment of
an amount in respect of a liability was made before, on or after the
commencement of that Schedule.
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Chapter 10 Transitional provisions
Part 10.28 Transitional provisions relating to the Treasury Laws Amendment (2016
Measures No. 1) Act 2017
Section 1637
242 Corporations Act 2001
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Part 10.28—Transitional provisions relating to the
Treasury Laws Amendment (2016
Measures No. 1) Act 2017
1637 Application of subparagraph 1274(2)(a)(iva) and
subsections 1274(2AA) and (2AB)
Subparagraph 1274(2)(a)(iva) and subsections 1274(2AA) and
(2AB), as inserted by Schedule 2 to the Treasury Laws Amendment
(2016 Measures No. 1) Act 2017, apply to the following:
(a) a disclosure document lodged under section 718 after that
Schedule commences;
(b) a replacement document lodged under section 719 after that
commencement;
(c) a supplementary document lodged under section 719 after
that commencement if the disclosure document it
supplements was also lodged after that commencement.
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Insolvency Practice Schedule (Corporations) Schedule 2
Introduction Part 1
Introduction Division 1
Section 1-1
Corporations Act 2001 243
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Schedule 2—Insolvency Practice Schedule
(Corporations) Note: See section 600K.
Part 1—Introduction
Division 1—Introduction
1-1 Object of this Schedule
(1) The object of this Schedule is to ensure that any person registered
as a liquidator:
(a) has an appropriate level of expertise; and
(b) behaves ethically; and
(c) maintains sufficient insurance to cover his or her liabilities in
practising as a registered liquidator.
(2) The object of this Schedule is also:
(a) to regulate the external administration of companies
consistently, unless there is a clear reason to treat a matter
that arises in relation to a particular kind of external
administration differently; and
(b) to regulate the external administration of companies to give
greater control to creditors.
1-5 Simplified outline of this Schedule
Registering liquidators
Under this Act, only a registered liquidator can perform certain
roles, such as that of the receiver of the property of a corporation,
the administrator of a company or of a deed of company
arrangement, or the liquidator or provisional liquidator of a
company.
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Section 1-5
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Part 2 of this Schedule sets out the process for registering
liquidators, and also deals with disciplining registered liquidators.
Consistently regulating the external administration of companies
Part 3 of this Schedule sets out provisions to regulate the external
administration of companies consistently.
A company is under external administration if the company is
under administration, is the subject of a deed of company
arrangement or has had a liquidator or provisional liquidator
appointed in relation to it. A company is not under external
administration merely because a person has been appointed as a
receiver, receiver and manager or other controller in relation to the
property of the company.
Other provisions
There are other matters relevant to the external administration of a
company regulated in Chapter 5.
This Schedule also gives authority for a legislative instrument, the
Insolvency Practice Rules, to deal with some matters.
Many of the terms in this Schedule are defined. The Dictionary in
section 5-5 contains a list of every term that is defined in this
Schedule. Other terms are defined in section 9 of this Act.
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Introduction Part 1
Definitions Division 5
Section 5-1
Corporations Act 2001 245
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Division 5—Definitions
Subdivision A—Introduction
5-1 Simplified outline of this Division
Terms used in this Schedule are defined in the Dictionary. In some
cases, the definition is a signpost to another provision of the
Schedule in which the meaning of the term is explained.
Some of the key terms, the meaning of which is explained in this
Division, are external administration of a company and external
administrator of a company.
Subdivision B—The Dictionary
5-5 The Dictionary
In this Schedule:
adequate and appropriate fidelity insurance has a meaning
affected by subsection 25-1(2).
adequate and appropriate professional indemnity insurance has a
meaning affected by subsection 25-1(2).
administration account: see section 65-5.
annual administration return means the return required to be
lodged under subsection 70-5(3).
annual liquidator return means the return required to be lodged
under subsection 30-1(1).
approved form: a document is lodged in the approved form if it is
lodged in accordance with section 100-6.
committee of inspection for a company means:
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Section 5-5
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(a) a committee appointed under sections 80-10 to 80-25 in
relation to the external administration of the company; or
(b) a committee that is taken to be a committee of inspection in
relation to the external administration of the company under
subsection 80-26(3) (the company is a member of a pooled
group).
creditor, when used in relation to a company under external
administration, means a creditor of the company.
current conditions: see section 5-10.
end of administration return means the return required to be
lodged under subsection 70-6(2).
end of an external administration of a company means:
(a) in relation to a company under administration—the day
worked out under paragraph 435C(1)(b); and
(b) in relation to a company subject to a deed of company
arrangement—the day the deed is terminated; and
(c) in the case of a winding up of a company—the day on which
the affairs of the company are fully wound up.
external administration of a company: see section 5-15.
external administrator of a company: see section 5-20.
financial interest: a person has a financial interest in the external
administration of a company in the circumstances set out in
section 5-30.
GST has the same meaning as in the A New Tax System (Goods
and Services Tax) Act 1999.
Insolvency Practice Rules means the rules made by the Minister
under section 105-1.
Insolvency Practice Schedule (Bankruptcy) means Schedule 2 to
the Bankruptcy Act 1966, and includes rules made under
section 105-1 of that Schedule.
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March quarter means the period of 3 months beginning on
1 January.
maximum default amount for an external administrator of a
company: see section 60-15.
member of a pooled group: see section 5-27.
pooled group: see section 5-27.
prescribed means prescribed by the Insolvency Practice Rules.
property has a meaning affected by section 5-26.
registered liquidator means an individual who is registered as a
liquidator under Part 2 of this Schedule.
Register of Liquidators means the register established and
maintained by ASIC under section 15-1.
related entity, in relation to an individual, has the same meaning as
in the Bankruptcy Act 1966.
remuneration determination, for an external administrator of a
company, means a determination made in accordance with
section 60-10 in relation to the external administrator.
resolution: a resolution is passed by creditors or contributories of a
company:
(a) in a meeting—in the circumstances prescribed under
paragraph 75-50(2)(k); or
(b) without a meeting—in the circumstances prescribed under
paragraph 75-40(5)(b).
reviewing liquidator means a registered liquidator who has been
appointed under section 90-23 or 90-24 to conduct a review.
special resolution: a special resolution is passed by creditors or
contributories of a company:
(a) in a meeting—in the circumstances prescribed under
paragraph 75-50(2)(k); or
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(b) without a meeting—in the circumstances prescribed under
paragraph 75-40(5)(b).
start of an external administration of a company means:
(a) in relation to a company under administration—the day an
administrator of the company is appointed under
section 436A, 436B or 436C; and
(b) in relation to a company that is subject to a deed of company
arrangement—the day the deed is executed; and
(c) in the case of a winding up of a company—the day the
winding up of the company is taken to have begun under
section 513A or 513B; and
(d) in relation to a company for which a provisional liquidator
has been appointed—the day the provisional liquidator is
appointed.
this Schedule includes the Insolvency Practice Rules.
Subdivision C—Other definitions
5-10 Meaning of current conditions
(1) Each of the following is a current condition imposed on a
registered liquidator:
(a) a condition that a committee decides that the registered
liquidator is to be subject to under subsection 20-20(5) or (6),
subject to any variation that a committee has decided should
be made to the condition under section 20-55;
(b) a condition imposed on all registered liquidators, or on
registered liquidators of the liquidator’s class, under
section 20-35;
(c) a condition imposed under subsection 40-15(2) (direction not
to accept further appointments);
(d) a condition that a committee decides that the registered
liquidator is to be subject to under paragraph 40-55(1)(f) or
(g) (conditions as a result of disciplinary action), subject to
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Section 5-15
Corporations Act 2001 249
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any variation that a committee has decided should be made to
the condition under section 20-55;
(e) a condition imposed on the registered liquidator by the Court
under section 45-1.
(2) However, the current conditions imposed on a registered
liquidator do not include:
(a) a condition that a committee has decided to remove under
section 20-55; or
(b) a condition that is removed under subsection 40-15(4)
(condition removed because a direction not to accept further
appointments has been withdrawn); or
(c) a condition that the Court has ordered be removed under
section 45-1.
5-15 Meaning of external administration of a company
A company is taken to be under external administration if:
(a) the company is under administration; or
(b) a deed of company arrangement has been entered into in
relation to the company; or
(c) a liquidator has been appointed in relation to the company; or
(d) a provisional liquidator has been appointed in relation to the
company.
Note: A company is not under external administration for the purposes of
this Schedule merely because a receiver, receiver and manager, or
other controller has been appointed in relation to property of the
company.
5-20 Meaning of external administrator of a company
A person is an external administrator of a company if the person
is:
(a) the administrator of the company; or
(b) the administrator under a deed of company arrangement that
has been entered into in relation to the company; or
(c) the liquidator of the company; or
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Section 5-25
250 Corporations Act 2001
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(d) the provisional liquidator of the company.
Note: A person is not an external administrator of a company for the
purposes of this Schedule merely because the person has been
appointed as a receiver, receiver and manager, or controller in relation
to property of the company.
5-25 References to the external administrator of a company
A reference in this Schedule to the external administrator of a
company is to be read:
(a) in relation to a company in respect of which there are 2 or
more joint external administrators—as a reference to all of
the external administrators; and
(b) in relation to a company in respect of which there are 2 or
more joint and several external administrators—as a
reference to all of the external administrators or any one or
more of the external administrators.
5-26 Property of a company
The property of a company includes any PPSA retention of title
property of the company.
Note: See sections 9 (definition of property) and 51F (PPSA retention of
title property).
5-27 Meaning of pooled group
If:
(a) a pooling determination is in force in relation to a group of 2
or more companies; or
(b) a pooling order is in force in relation to a group of 2 or more
companies;
then:
(c) the companies are together a pooled group; and
(d) each of the companies is a member of the pooled group.
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5-30 Persons with a financial interest in the external administration
of a company
A person has a financial interest in the external administration of a
company:
(a) if the person is one of the following:
(i) the company;
(ii) a creditor of the company;
(iii) an external administrator of the company;
(iv) in a members’ voluntary winding up—a member of the
company; or
(b) in any other circumstances prescribed.
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Part 2 Registering and disciplining practitioners
Division 10 Introduction
Section 10-1
252 Corporations Act 2001
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Part 2—Registering and disciplining practitioners
Division 10—Introduction
10-1 Simplified outline of this Part
Registering liquidators
An individual may apply to ASIC to be registered as a liquidator.
ASIC will refer the application to a committee who will consider
the applicant’s qualifications, conduct and fitness and whether the
applicant will take out appropriate insurance. Registration may be
subject to conditions, is for 3 years and may be renewed.
A registered liquidator must:
(a) lodge an annual return with ASIC that includes proof
that the liquidator has appropriate insurance; and
(b) give ASIC notice if the liquidator’s circumstances
change or if certain other events happen.
Disciplining registered liquidators
If a registered liquidator fails to comply with certain requirements,
such as the requirement to lodge a document or give information,
ASIC may give directions that may result in the liquidator being
unable to accept further appointments. ASIC may also seek a Court
order.
ASIC may suspend or cancel a liquidator’s registration in certain
circumstances. ASIC may also give the liquidator a show-cause
notice. If such a notice is given and no sufficient explanation is
given, ASIC may take further disciplinary action on the decision of
a committee.
Industry bodies may notify ASIC where they suspect there are
grounds for disciplinary action.
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Section 10-5
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Court powers
The Court has broad powers to make orders in relation to
registered liquidators (including imposing conditions on
registration).
10-5 Working cooperatively with the Inspector-General in
Bankruptcy
In performing its functions and exercising its powers under this Act
in relation to persons who are, have been or may become both
registered liquidators under this Act and registered trustees under
the Bankruptcy Act 1966, ASIC must work cooperatively with the
Inspector-General in Bankruptcy.
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Division 15 Register of liquidators
Section 15-1
254 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 15—Register of liquidators
15-1 Register of Liquidators
(1) ASIC must establish and maintain a Register of Liquidators.
(2) The Register of Liquidators may be kept in any form that ASIC
considers appropriate.
(3) The Insolvency Practice Rules may provide for and in relation to
the Register of Liquidators.
(4) Without limiting subsection (3), the Insolvency Practice Rules may
provide for and in relation to:
(a) the details to be entered on the Register of Liquidators; and
(b) the parts of the Register that are to be made available to the
public.
(5) Without limiting paragraph (4)(a), those details may include:
(a) details of any disciplinary action decided by a committee
under section 40-55; and
(b) details of persons who have had their registration as a
liquidator under this Act suspended or cancelled.
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Section 20-1
Corporations Act 2001 255
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 20—Registering liquidators
Subdivision A—Introduction
20-1 Simplified outline of this Division
An individual may apply to ASIC to be registered as a liquidator.
The application will be referred to a committee, which will assess
the application against specified criteria (the applicant’s
qualifications, conduct and fitness and whether the applicant will
take out appropriate insurance). The committee will report its
decision to ASIC and, if the committee decides that the applicant
should be registered, ASIC will register the applicant as a
liquidator.
A registration may be subject to conditions. Conditions may be
imposed on a particular registered liquidator by the committee, or
on all registered liquidators or a class of registered liquidators by
the Insolvency Practice Rules. A registered liquidator may apply to
ASIC to have a condition imposed by a committee removed or
varied. That application will be referred to a committee.
Registration is for 3 years, but may be renewed. An application for
renewal may be made to ASIC within specified time periods.
A decision of a committee about an application for registration or
about a condition of registration is reviewable by the
Administrative Appeals Tribunal (see Part 9.4A of this Act).
Subdivision B—Registration
20-5 Application for registration
(1) An individual may apply to ASIC to be registered as a liquidator.
(2) The application must be lodged with ASIC in the approved form.
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Division 20 Registering liquidators
Section 20-10
256 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Note: Fees for lodging documents may be imposed under the Corporations
(Fees) Act 2001.
(3) The application is properly made if subsection (2) is complied
with.
20-10 ASIC may convene a committee to consider
(1) ASIC may convene a committee for the purposes of considering an
application, or applications, for registration as a liquidator.
(2) The committee must consist of:
(a) ASIC; and
(b) a registered liquidator chosen by a prescribed body; and
(c) a person appointed by the Minister.
Note 1: Section 50-5 sets out the knowledge and experience that a prescribed
body must be satisfied a person has before making an appointment
under paragraph (2)(b).
Note 2: Section 50-10 sets out the matters of which the Minister must be
satisfied before making an appointment under paragraph (2)(c).
20-15 ASIC must refer applications to a committee
(1) ASIC must refer an application for registration as a liquidator that
is properly made to a committee convened under section 20-10 for
consideration.
(2) ASIC must do so within 2 months after receiving the application.
20-20 Committee to consider applications
Committee must consider referred applications
(1) If an application for registration as a liquidator is referred to a
committee, the committee must consider the application.
(2) For the purposes of considering the application, the committee:
(a) must interview the applicant; and
(b) may require the applicant to sit for an exam.
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Section 20-20
Corporations Act 2001 257
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Decision of committee
(3) Within 45 business days after interviewing the applicant, the
committee must decide whether the applicant should be registered
as a liquidator or not.
(4) The committee must decide that the applicant should be registered
as a liquidator if it is satisfied that the applicant:
(a) has the qualifications, experience, knowledge and abilities
prescribed; and
(b) will take out:
(i) adequate and appropriate professional indemnity
insurance; and
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the applicant may incur working as
a registered liquidator; and
(c) has not been convicted, within 10 years before making the
application, of an offence involving fraud or dishonesty; and
(d) is not, and has not been within 10 years before making the
application, an insolvent under administration; and
(e) has not had his or her registration as a liquidator under this
Act cancelled within 10 years before making the application,
other than in response to a written request by the applicant to
have the registration cancelled; and
(f) has not had his or her registration as a trustee under the
Bankruptcy Act 1966 cancelled within 10 years before
making the application, other than in response to a written
request by the applicant to have the registration cancelled;
and
(g) is not disqualified from managing corporations under
Part 2D.6 of this Act, or under a law of an external Territory
or a law of a foreign country; and
(h) is otherwise a fit and proper person; and
(i) is resident in Australia or in another prescribed country.
(5) The committee may decide that the applicant should be registered
even if the committee is not satisfied of a matter mentioned in
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Section 20-25
258 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
paragraph (4)(a),(e), (f) or (i), provided the committee is satisfied
that the applicant would be suitable to be registered as a liquidator
if the applicant complied with conditions specified by the
committee.
Registration may be subject to conditions
(6) The committee may decide that the applicant’s registration is to be
subject to any other conditions specified by the committee.
Spent convictions
(7) Nothing in this section affects the operation of Part VIIC of the
Crimes Act 1914.
Note: Part VIIC of the Crimes Act 1914 includes provisions that, in certain
circumstances, relieve persons from the requirement to disclose spent
convictions and require persons aware of such convictions to
disregard them.
20-25 Committee to report
The committee must give the applicant and ASIC a report setting
out:
(a) the committee’s decision on the application; and
(b) the committee’s reasons for that decision; and
(c) if the committee decides under subsection 20-20(5) or (6)
that the applicant should be registered subject to a condition:
(i) the condition; and
(ii) the committee’s reasons for imposing the condition.
20-30 Registration
Registration as liquidator
(1) ASIC must register the applicant as a liquidator if:
(a) the committee has decided that the applicant should be
registered; and
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Section 20-35
Corporations Act 2001 259
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) the applicant has produced evidence in writing to ASIC that
the applicant has taken out:
(i) adequate and appropriate professional indemnity
insurance; and
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the applicant may incur working as
a registered liquidator.
Note: Fees may be imposed under the Corporations (Fees) Act 2001 for the
doing of an act by ASIC.
(2) ASIC registers an applicant by entering on the Register of
Liquidators the details relating to the applicant prescribed for the
purposes of subsection 15-1(3).
Registration subject to current conditions
(3) The registration is subject to the current conditions imposed on the
registered liquidator.
Certificate of registration
(4) After registering a person as a liquidator, ASIC must give the
person a certificate of registration.
(5) The certificate may be given electronically.
Period of registration
(6) The registration has effect for 3 years.
20-35 Conditions imposed on all registered liquidators or a class of
registered liquidators
(1) The Insolvency Practice Rules may impose conditions on all
registered liquidators, or registered liquidators of a specified class.
(2) Without limiting subsection (1), a condition may be imposed
limiting the kinds of activity in which a liquidator may engage,
either for the duration of the registration or for a shorter period.
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Division 20 Registering liquidators
Section 20-40
260 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Subdivision C—Varying etc. conditions of registration
20-40 Application to vary etc. conditions of registration
(1) If a committee has decided under this Schedule that a person’s
registration as a liquidator is to be subject to a condition, the
person may apply to ASIC for the condition to be varied or
removed.
(2) However, an application cannot be made:
(a) if the person’s registration as a liquidator is suspended; or
(b) if the condition is of a prescribed kind; or
(c) in prescribed circumstances.
(3) The application must be lodged with ASIC in the approved form.
(4) The application is properly made if:
(a) an application can be made; and
(b) subsection (3) is complied with.
(5) A single application by a registered liquidator may deal with more
than one condition.
20-45 ASIC may convene a committee to consider applications
(1) ASIC may convene a committee for the purposes of considering an
application, or applications, made under section 20-40.
(2) The committee must consist of:
(a) ASIC; and
(b) a registered liquidator chosen by a prescribed body; and
(c) a person appointed by the Minister.
Note 1: Section 50-5 sets out the knowledge and experience that a prescribed
body must be satisfied a person has before making an appointment
under paragraph (2)(b).
Note 2: Section 50-10 sets out the matters of which the Minister must be
satisfied before making an appointment under paragraph (2)(c).
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Section 20-50
Corporations Act 2001 261
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
20-50 ASIC must refer applications to a committee
(1) ASIC must refer an application that is properly made under
section 20-40 to a committee convened under section 20-45 for
consideration.
(2) ASIC must do so within 2 months after receiving the application.
20-55 Committee to consider applications
(1) If an application to vary or remove a condition of registration is
referred to a committee, the committee must consider the
application.
(2) Unless the applicant otherwise agrees, the committee must, for the
purposes of considering the application, interview the applicant.
(3) The committee must, within 20 business days after interviewing
the applicant or obtaining the agreement of the applicant as
referred to in subsection (2):
(a) decide whether the condition to which the application relates
should be varied or removed; and
(b) if a condition is to be varied—specify the way in which it is
to be varied.
20-60 Committee to report
The committee must give the applicant and ASIC a report setting
out:
(a) the committee’s decision on the application; and
(b) the committee’s reasons for that decision; and
(c) if the committee decides that a condition should be varied—
the variation that is to be made.
20-65 Committee’s decision given effect
If the committee decides that a condition imposed on a registered
liquidator is to be varied or removed, the condition is varied or
removed in accordance with that decision.
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Division 20 Registering liquidators
Section 20-70
262 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Subdivision D—Renewal
20-70 Application for renewal
(1) An individual may apply to ASIC to have the individual’s
registration as a liquidator renewed.
(2) The application must be lodged with ASIC in the approved form:
(a) if the Court makes an order under subsection (3)—on or
before the time specified in the order; or
(b) otherwise—before the applicant’s registration as a liquidator
ceases to have effect.
Note: Fees for lodging documents and late lodgement fees may be imposed
under the Corporations (Fees) Act 2001.
(3) The Court may, on application, extend the time within which the
individual may apply to ASIC to have the individual’s registration
as a liquidator renewed.
(4) The application for renewal is properly made if subsection (2) is
complied with.
20-75 Renewal
Renewal of registration
(1) On application under section 20-70, ASIC must renew the
registration of the applicant as a liquidator if:
(a) the application is properly made; and
(b) the applicant has produced evidence in writing to ASIC that
the applicant maintains:
(i) adequate and appropriate professional indemnity
insurance; and
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the applicant may incur working as
a registered liquidator; and
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Section 20-80
Corporations Act 2001 263
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(c) the applicant has complied with any condition dealing with
continuing professional education to which the applicant is
subject during the applicant’s current registration.
(2) ASIC renews the registration of the applicant by entering, or
maintaining, on the Register of Liquidators the details relating to
the applicant prescribed for the purposes of subsection 15-1(3).
Registration subject to current conditions
(3) The renewed registration is subject to the current conditions
imposed on the registered liquidator.
Certificate of registration
(4) After renewing the registration of a person as a liquidator, ASIC
must give the person a certificate of registration.
(5) The certificate may be given electronically.
Period of registration
(6) The renewed registration has effect for 3 years, beginning on the
day after the person’s immediately preceding registration as a
liquidator ceased to have effect.
Subdivision E—Offences relating to registration
20-80 False representation that a person is a registered liquidator
A person commits an offence if:
(a) the person makes a representation; and
(b) the representation is that the person is a registered liquidator;
and
(c) the representation is false.
Penalty: 30 penalty units.
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Division 25 Insurance
Section 25-1
264 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 25—Insurance
25-1 Registered liquidators to maintain insurance
Registered liquidator must maintain insurance
(1) A registered liquidator must maintain:
(a) adequate and appropriate professional indemnity insurance;
and
(b) adequate and appropriate fidelity insurance;
against the liabilities that the liquidator may incur working as a
registered liquidator.
(2) ASIC may, by legislative instrument, determine what constitutes
adequate and appropriate professional indemnity insurance, and
adequate and appropriate fidelity insurance, in relation to either or
both of the following:
(a) specified circumstances;
(b) one or more specified classes of registered liquidators.
Offence
(3) A person commits an offence if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person intentionally or recklessly fails to comply with the
requirement.
Penalty: 1,000 penalty units.
(4) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person fails to comply with the requirement.
Penalty: 60 penalty units.
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Annual liquidator returns Division 30
Section 30-1
Corporations Act 2001 265
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 30—Annual liquidator returns
30-1 Annual liquidator returns
Registered liquidator must lodge annual return
(1) A person who is a registered liquidator during all or part of a
liquidator return year for the person must, within 1 month after the
end of that year, lodge with ASIC a return that conforms with
subsection (3).
(2) Each of the following is a liquidator return year for a person who
is or was registered as a liquidator under section 20-30:
(a) the period of 12 months beginning on the day on which that
registration first began;
(b) each subsequent period of 12 months.
(3) A return under subsection (1) must:
(a) be in the approved form; and
(b) include evidence that the person has, during the whole of any
period of the year during which the person was registered as
a liquidator, maintained:
(i) adequate and appropriate professional indemnity
insurance; and
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the person may incur working as a
registered liquidator.
(4) ASIC may, on the application of the registered liquidator made
before the end of the period for lodging a return under
subsection (1), extend, or further extend, that period.
Offence
(5) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1);
and
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Section 30-1
266 Corporations Act 2001
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(b) the person fails to comply with the requirement.
Penalty: 5 penalty units.
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Notice requirements Division 35
Section 35-1
Corporations Act 2001 267
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 35—Notice requirements
35-1 Notice of significant events
Registered liquidator must lodge notice
(1) A registered liquidator must lodge with ASIC a notice, in the
approved form, if any of the following events occur:
(a) the liquidator becomes an insolvent under administration;
(b) a bankruptcy notice is issued under the Bankruptcy Act 1966
in relation to the liquidator as debtor, or a corresponding
notice is issued in relation to the liquidator as debtor under a
law of an external Territory or a law of a foreign country;
(c) the liquidator is convicted of an offence involving fraud or
dishonesty;
(d) the liquidator is disqualified from managing corporations
under Part 2D.6 of this Act, or under a law of an external
Territory or a law of a foreign country;
(e) the liquidator ceases to have:
(i) adequate and appropriate professional indemnity
insurance; or
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the liquidator may incur working as
a registered liquidator;
(f) the liquidator is issued with a notice under section 40-40 of
Schedule 2 to the Bankruptcy Act 1966 (a show-cause notice)
in relation to the liquidator’s registration as a trustee under
that Act;
(g) the liquidator’s registration as a trustee under the Bankruptcy
Act 1966 is suspended or cancelled;
(h) any other event prescribed.
The notice must be lodged within 5 business days after the
registered liquidator could reasonably be expected to be aware that
the event has occurred.
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Division 35 Notice requirements
Section 35-5
268 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Offence
(2) A person commits an offence if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person intentionally or recklessly fails to comply with the
requirement.
Penalty: 100 penalty units.
35-5 Notice of other events
Registered liquidator must lodge notice
(1) A registered liquidator must lodge with ASIC a notice, in the
approved form, if any of the following events occur:
(a) information included in an annual liquidator return, an annual
administration return or an end of administration return,
prepared by or on behalf of the liquidator, is or becomes
inaccurate in a material particular;
(b) any other event prescribed.
The notice must be lodged within 10 business days after the
registered liquidator could reasonably be expected to be aware that
the event has occurred.
Offence
(2) A person commits an offence if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person intentionally or recklessly fails to comply with the
requirement.
Penalty: 5 penalty units.
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Disciplinary and other action Division 40
Section 40-1
Corporations Act 2001 269
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 40—Disciplinary and other action
Subdivision A—Introduction
40-1 Simplified outline of this Division
Remedying failure to lodge documents or give information or
documents
ASIC may direct a registered liquidator to comply with a
requirement to lodge a document, or give any information or
document, to ASIC. If the liquidator fails to comply with the
direction, ASIC can direct that the liquidator accept no further
appointments or seek an order from the Court directing the
liquidator to comply.
Correcting and completing information given to ASIC
If ASIC reasonably suspects that information that a registered
liquidator is required to give ASIC is incomplete or inaccurate,
ASIC can direct the liquidator to confirm, complete or correct the
information. ASIC can also direct the liquidator to tell someone
about the defect in the information. If the liquidator fails to comply
with a direction, ASIC can direct that the liquidator accept no
further appointments or seek an order from the Court directing the
liquidator to comply.
Other grounds for a direction not to accept further appointments
There are other grounds on which ASIC can issue a direction not to
accept further appointments, for example, if the registered
liquidator fails to comply with a direction to convene a meeting.
Suspending or cancelling registration
An individual’s registration as a liquidator can be suspended or
cancelled.
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Division 40 Disciplinary and other action
Section 40-5
270 Corporations Act 2001
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The registration is automatically cancelled if the registered
liquidator becomes an insolvent under administration or dies.
In some circumstances, ASIC can suspend or cancel the
registration of a person as a liquidator. ASIC can also give a
registered liquidator notice to show-cause why the liquidator
should continue to be registered. If ASIC is not satisfied with the
answer, ASIC can refer the matter to a committee which will make
a decision on what action should be taken.
An industry body can give ASIC notice of possible grounds for
disciplinary action.
If a registration is suspended, the liquidator can apply to ASIC to
have the suspension lifted or shortened.
A decision about the suspension or cancellation of the registration
of a liquidator is reviewable by the Administrative Appeals
Tribunal (see Part 9.4A of this Act).
Subdivision B—Direction to comply
40-5 Registered liquidator to remedy failure to lodge documents or
give information or documents
Application of this section
(1) This section applies if a registered liquidator fails to comply with a
requirement to lodge any document, or give any information or
document, that the liquidator is required under this Act to lodge
with or give to ASIC.
ASIC may give direction to comply
(2) ASIC may, in writing, direct the liquidator to comply with the
requirement within 10 business days after the direction is given.
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Disciplinary and other action Division 40
Section 40-10
Corporations Act 2001 271
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(3) ASIC may, on the application of a registered liquidator made
before the end of the period referred to in subsection (2), extend, or
further extend, that period.
Consequences for failing to comply
(4) If the liquidator does not comply within the period, ASIC may do
either or both of the following:
(a) give a direction under subsection 40-15(1) (direction not to
accept further appointments);
(b) apply to the Court for an order, under subsection 1274(11)
(registers), section 45-1 of this Schedule or any other
provision that is relevant, directing the liquidator to comply
with the requirement within such time as is specified in the
order.
Direction is not a legislative instrument
(5) A direction under subsection (2) is not a legislative instrument.
Relationship with other laws
(6) Nothing in this section limits the operation of any other provision
of this Act, or any other law, in relation to a person who fails to
comply with a requirement to lodge a document with, or give
information or a document to, ASIC.
40-10 Registered liquidator to correct inaccuracies etc.
Application of this section
(1) This section applies if ASIC reasonably suspects that any
information that a registered liquidator is required under this Act to
give to ASIC (whether in a document lodged or given to ASIC or
otherwise) is incomplete or incorrect in any particular.
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Section 40-10
272 Corporations Act 2001
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ASIC may give direction to correct information etc.
(2) ASIC may, in writing, direct the liquidator to do one or more of the
following within a period of 10 business days after the direction is
given:
(a) confirm to ASIC that the information is complete and
correct;
(b) complete or correct the information (as the case requires);
(c) notify any persons specified by ASIC in the direction of the
addition or correction.
(3) ASIC may, on the application of a registered liquidator made
before the end of the period referred to in subsection (2), extend, or
further extend, that period.
Consequences for failing to comply
(4) If the liquidator does not comply within the period, ASIC may do
either or both of the following:
(a) give a direction under subsection 40-15(1) (direction not to
accept further appointments);
(b) apply to the Court for an order, under subsection 1274(11)
(registers), section 45-1 of this Schedule or any other
provision that is relevant, directing the liquidator to comply
with the requirement within such time as is specified in the
order.
Direction is not a legislative instrument
(5) A direction under subsection (2) is not a legislative instrument.
Relationship with other laws
(6) Nothing in this section limits the operation of any other provision
of this Act, or any other law, in relation to a person giving
incomplete or incorrect information.
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Disciplinary and other action Division 40
Section 40-15
Corporations Act 2001 273
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40-15 Direction not to accept further appointments
ASIC may give direction not to accept further appointments
(1) ASIC may, in writing, direct a registered liquidator not to accept
any further appointments under Chapter 5 (external
administration), or not to accept any further appointments under
Chapter 5 during a period specified in the direction, if:
(a) the liquidator has failed to comply with a direction given to
the liquidator under section 40-5 (direction to remedy failure
to lodge documents, or give information or documents); or
(b) the liquidator has failed to comply with a direction given to
the liquidator under section 40-10 (direction to correct
inaccuracies); or
(c) a committee has decided under paragraph 40-55(1)(d) that
ASIC should give the direction referred to in that paragraph;
or
(d) the liquidator has failed to comply with a direction given to
the liquidator under section 70-70 (direction to give relevant
materian( � or
(e) the liquidator has failed to comply with a direction given to
the liquidator under subsection 75-20(1) or (2), or
subsection 80-27(1) (direction to convene a meeting of
creditors or comply with requirements in relation to such a
meeting).
Condition of registration to comply with direction
(2) If ASIC gives a direction to a registered liquidator under
subsection (1), it is a condition of the liquidator’s registration that
the liquidator must comply with the direction.
Withdrawal of direction
(3) ASIC may withdraw a direction given under subsection (1).
(4) The condition is removed from the liquidator’s registration if ASIC
withdraws the direction.
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Direction is not a legislative instrument
(5) A direction under subsection (1) is not a legislative instrument.
Relationship with other laws
(6) Nothing in this section limits the operation of any other provision
of this Act, or any other law, in relation to:
(a) a person who fails to comply with a requirement to lodge a
document with, or give information or a document to, ASIC;
or
(b) a person giving incomplete or incorrect information; or
(c) any matter in relation to which a committee makes a decision
under subsection 40-55(1).
(7) Nothing in this section limits ASIC’s power under this Act, or any
other law, to apply to the Court for an order in relation to a failure
to comply with a direction mentioned in subsection (1).
Subdivision C—Automatic cancellation
40-20 Automatic cancellation
(1) The registration of a person as a liquidator is cancelled if:
(a) the person becomes an insolvent under administration; or
(b) the person dies.
(2) The cancellation takes effect on the day the event mentioned in
subsection (1) happens.
Subdivision D—ASIC may suspend or cancel registration
40-25 ASIC may suspend registration
(1) ASIC may suspend the registration of a person as a liquidator if:
(a) the person is disqualified from managing corporations under
Part 2D.6 of this Act, or under a law of an external Territory
or a law of a foreign country; or
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(b) the person ceases to have:
(i) adequate and appropriate professional indemnity
insurance; or
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the person may incur working as a
registered liquidator; or
(c) the person’s registration as a trustee under the Bankruptcy
Act 1966 has been cancelled or suspended, other than in
compliance with a written request by the person to cancel or
suspend the registration; or
(d) if the Court has made an order under section 90-15 that the
person repay remuneration—the person has failed to repay
the remuneration; or
(e) the person has been convicted of an offence involving fraud
or dishonesty; or
(f) the person lodges a request with ASIC in the approved form
to have the registration suspended; or
(g) in the case of a person who is a leviable entity (within the
meaning of the ASIC Supervisory Cost Recovery Levy Act
2017)—the following have not been paid in full at least 12
months after the due date for payment:
(i) an amount of levy (if any) payable in respect of the
person;
(ii) an amount of late payment penalty payable (if any) in
relation to the levy;
(iii) an amount of shortfall penalty payable (if any) in
relation to the levy.
(2) Nothing in this section affects the operation of Part VIIC of the
Crimes Act 1914.
Note: Part VIIC of the Crimes Act 1914 includes provisions that, in certain
circumstances, relieve persons from the requirement to disclose spent
convictions and require persons aware of such convictions to
disregard them.
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40-30 ASIC may cancel registration
(1) ASIC may cancel the registration of a person as a liquidator if:
(a) the person is disqualified from managing corporations under
Part 2D.6 of this Act, or under a law of an external Territory
or a law of a foreign country; or
(b) the person ceases to have:
(i) adequate and appropriate professional indemnity
insurance; or
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the person may incur working as a
registered liquidator; or
(c) the person’s registration as a trustee under the Bankruptcy
Act 1966 has been cancelled, other than in compliance with a
written request by the person to cancel the registration; or
(d) if the Court has made an order under section 90-15 that the
person repay remuneration—the person has failed to repay
the remuneration; or
(e) the person has been convicted of an offence involving fraud
or dishonesty; or
(f) the person lodges a request with ASIC in the approved form
to have the registration cancelled; or
(g) in the case of a person who is a leviable entity (within the
meaning of the ASIC Supervisory Cost Recovery Levy Act
2017)—the following have not been paid in full at least 12
months after the due date for payment:
(i) an amount of levy (if any) payable in respect of the
person;
(ii) an amount of late payment penalty payable (if any) in
relation to the levy;
(iii) an amount of shortfall penalty payable (if any) in
relation to the levy.
(2) Nothing in this section affects the operation of Part VIIC of the
Crimes Act 1914.
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Section 40-35
Corporations Act 2001 277
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Note: Part VIIC of the Crimes Act 1914 includes provisions that, in certain
circumstances, relieve persons from the requirement to disclose spent
convictions and require persons aware of such convictions to
disregard them.
40-35 Notice of suspension or cancellation
Application of this section
(1) This section applies if ASIC decides under section 40-25 or 40-30
to suspend or cancel the registration of a person as a liquidator.
ASIC must give notice of decision
(2) ASIC must, within 10 business days after making the decision,
give the person a written notice setting out the decision, and the
reasons for the decision.
When decision comes into effect
(3) The decision comes into effect on the day after the notice is given
to the person.
Failure to give notice does not affect validity of decision
(4) A failure by ASIC to give the notice under subsection (2) within 10
business days does not affect the validity of the decision.
Subdivision E—Disciplinary action by committee
40-40 ASIC may give a show-cause notice
(1) ASIC may give a registered liquidator notice in writing asking the
liquidator to give ASIC a written explanation why the liquidator
should continue to be registered, if ASIC believes that:
(a) the liquidator no longer has the qualifications, experience,
knowledge and abilities prescribed under
paragraph 20-20(4)(a); or
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(b) the liquidator has committed an act of bankruptcy, within the
meaning of the Bankruptcy Act 1966 or a corresponding law
of an external Territory or a foreign country; or
(c) the liquidator is disqualified from managing corporations
under Part 2D.6 of this Act, or under a law of an external
Territory or a law of a foreign country; or
(d) the liquidator has ceased to have:
(i) adequate and appropriate professional indemnity
insurance; or
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the person may incur working as a
registered liquidator; or
(e) the liquidator has breached a current condition imposed on
the liquidator; or
(f) the liquidator has contravened a provision of this Act; or
(g) the liquidator has been appointed to act as a reviewing
liquidator under Subdivision C of Division 90 of this
Schedule, and has failed to properly exercise the powers or
perform the duties of a reviewing liquidator; or
(h) the liquidator’s registration as a trustee under the Bankruptcy
Act 1966 has been cancelled or suspended, other than in
compliance with a written request by the liquidator to cancel
or suspend the registration; or
(i) if the Court has made an order under section 90-15 that the
liquidator repay remuneration—the liquidator has failed to
repay the remuneration; or
(j) the liquidator has been convicted of an offence involving
fraud or dishonesty; or
(k) the liquidator is permanently or temporarily unable to
perform the functions and duties of a liquidator because of
physical or mental incapacity; or
(l) the liquidator has failed to carry out adequately and properly
(whether in Australia or in an external Territory or in a
foreign country):
(i) the duties of a liquidator; or
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(ii) any other duties or functions that a registered liquidator
is required to carry out under a law of the
Commonwealth or of a State or Territory, or the general
law; or
(m) the liquidator is not a fit and proper person; or
(n) the liquidator is not resident in Australia or in another
prescribed country.
(2) A notice under subsection (1) is not a legislative instrument.
(3) Nothing in this section affects the operation of Part VIIC of the
Crimes Act 1914.
Note: Part VIIC of the Crimes Act 1914 includes provisions that, in certain
circumstances, relieve persons from the requirement to disclose spent
convictions and require persons aware of such convictions to
disregard them.
40-45 ASIC may convene a committee
(1) ASIC may convene a committee to make a decision of a kind
mentioned in section 40-55 in relation to a registered liquidator, or
registered liquidators.
(2) The committee must consist of:
(a) ASIC; and
(b) a registered liquidator chosen by a prescribed body; and
(c) a person appointed by the Minister.
Note 1: Section 50-5 sets out the knowledge and experience that a prescribed
body must be satisfied a person has before making an appointment
under paragraph (2)(b).
Note 2: Section 50-10 sets out the matters of which the Minister must be
satisfied before making an appointment under paragraph (2)(c).
40-50 ASIC may refer matters to the committee
ASIC may refer a registered liquidator to a committee convened
under section 40-45 if ASIC:
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(a) gives the liquidator a notice under section 40-40 (a
show-cause notice); and
(b) either:
(i) does not receive an explanation within 20 business days
after the notice is given; or
(ii) is not satisfied by the explanation.
40-55 Decision of the committee
(1) If a registered liquidator is referred to a committee under
section 40-50, the committee must decide one or more of the
following:
(a) that the liquidator should continue to be registered;
(b) that the liquidator’s registration should be suspended for a
period, or until the occurrence of an event, specified in the
decision;
(c) that the liquidator’s registration should be cancelled;
(d) that ASIC should direct the liquidator not to accept any
further appointments as liquidator, or not to accept any
further appointments as liquidator during the period specified
in the decision;
(e) that the liquidator should be publicly admonished or
reprimanded;
(f) that a condition specified in the decision should be imposed
on the liquidator;
(g) that a condition should be imposed on all other registered
liquidators that they must not allow the liquidator to carry out
any of the functions or duties, or exercise any of the powers,
of a registered liquidator on their behalf (whether as
employee, agent, consultant or otherwise) for a period
specified in the decision of no more than 10 years;
(h) that ASIC should publish specified information in relation to
the committee’s decision and the reasons for that decision.
(2) Without limiting paragraph (1)(f), conditions imposed under that
paragraph may include one or more of the following:
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(a) a condition that the liquidator engage in, or refrain from
engaging in, specified conduct;
(b) a condition that the liquidator engage in, or refrain from
engaging in, specified conduct except in specified
circumstances;
(c) a condition that the liquidator publish specified information;
(d) a condition that the liquidator notify a specified person or
class of persons of specified information;
(e) a condition that the liquidator publish a specified statement;
(f) a condition that the liquidator make a specified statement to a
specified person or class of persons.
(3) In making its decision, the committee may have regard to:
(a) any information provided to the committee by ASIC; and
(b) any explanation given by the liquidator; and
(c) any other information given by the liquidator to the
committee; and
(d) if the liquidator is or was also a registered trustee under the
Bankruptcy Act 1966—any information in relation to the
liquidator given to the committee by the Inspector-General in
Bankruptcy or a committee convened under the Insolvency
Practice Schedule (Bankruptcy); and
(e) any other matter that the committee considers relevant.
40-60 Committee to report
The committee must give the registered liquidator and ASIC a
report setting out:
(a) the committee’s decision in relation to the liquidator; and
(b) the committee’s reasons for that decision; and
(c) if the committee decides under paragraph 40-55(1)(f) that the
liquidator should be registered subject to a condition:
(i) the condition; and
(ii) the committee’s reasons for imposing the condition; and
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(d) if the committee decides under paragraph 40-55(1)(g) that a
condition should be imposed on all other registered
liquidators in relation to the liquidator:
(i) the condition; and
(ii) the committee’s reasons for imposing the condition.
40-65 ASIC must give effect to the committee’s decision
ASIC must give effect to the committee’s decision.
Subdivision F—Lifting or shortening suspension
40-70 Application to lift or shorten suspension
Application of this section
(1) This section applies if a person’s registration as a liquidator has
been suspended.
Suspended liquidator may apply to ASIC
(2) The person may apply to ASIC:
(a) for the suspension to be lifted; or
(b) for the period of the suspension to be shortened.
(3) The application must be lodged with ASIC in the approved form.
(4) The application is properly made if subsection (3) is complied
with.
40-75 ASIC may convene a committee to consider applications
(1) ASIC may convene a committee for the purposes of considering an
application, or applications, made under section 40-70.
(2) The committee must consist of:
(a) ASIC; and
(b) a registered liquidator chosen by a prescribed body; and
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(c) a person appointed by the Minister.
Note 1: Section 50-5 sets out the knowledge and experience that a prescribed
body must be satisfied a person has before making an appointment
under paragraph (2)(b).
Note 2: Section 50-10 sets out the matters of which the Minister must be
satisfied before making an appointment under paragraph (2)(c).
40-80 ASIC must refer applications to a committee
(1) ASIC must refer an application that is properly made under
section 40-70 to a committee convened under section 40-75 for
consideration.
(2) ASIC must do so within 2 months after receiving the application.
40-85 Committee to consider applications
(1) If an application is referred to a committee, the committee must
consider the application.
(2) Unless the applicant otherwise agrees, the committee must
interview the applicant for the purposes of considering the
application.
(3) Within 10 business days after interviewing the applicant or
obtaining the agreement of the applicant as referred to in
subsection (2), the committee must:
(a) decide whether the suspension should be lifted, or the period
of the suspension shortened; and
(b) if the period of the suspension is to be shortened—specify
when the suspension is to end.
40-90 Committee to report
The committee must give the applicant and ASIC a report setting
out:
(a) the committee’s decision on the application; and
(b) the committee’s reasons for that decision; and
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(c) if the committee decides that the period of the suspension
should be shortened—when the suspension is to end.
40-95 Committee’s decision given effect
If the committee decides that a suspension is to be lifted or
shortened, the suspension is lifted or shortened in accordance with
the decision.
Subdivision G—Action initiated by industry body
40-100 Notice by industry bodies of possible grounds for disciplinary
action
Industry body may lodge notice
(1) An industry body may lodge with ASIC a notice in the approved
form (an industry notice):
(a) stating that the body reasonably suspects that there are
grounds for ASIC:
(i) to suspend the registration of a registered liquidator
under section 40-25; or
(ii) to cancel the registration of a registered liquidator under
section 40-30; or
(iii) to give a registered liquidator a notice under
section 40-40 (a show-cause notice); or
(iv) to impose a condition on a registered liquidator under
another provision of this Schedule; and
(b) identifying the registered liquidator; and
(c) including the information and copies of any documents upon
which the suspicion is founded.
ASIC must consider information and documents
(2) ASIC must consider the information and the copies of any
documents included with the industry notice.
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ASIC must give notice if no action to be taken
(3) If, after such consideration, ASIC decides to take no action in
relation to the matters raised by the industry notice, ASIC must
give the industry body written notice of that fact.
45 business days to consider and decide
(4) The consideration of the information and the copies of any
documents included with the industry notice must be completed
and, if ASIC decides to take no action, a notice under
subsection (3) given, within 45 business days after the industry
notice is lodged.
ASIC not precluded from taking action
(5) ASIC is not precluded from:
(a) suspending the registration of a registered liquidator under
section 40-25; or
(b) cancelling the registration of a registered liquidator under
section 40-30; or
(c) giving a registered liquidator a notice under section 40-40 (a
show-cause notice); or
(d) imposing a condition on a registered liquidator under another
provision of this Schedule;
wholly or partly on the basis of information or a copy of a
document included with the industry notice, merely because ASIC
has given a notice under subsection (3) in relation to the matters
raised by the industry notice.
Notice to industry body if ASIC takes action
(6) If ASIC does take action of the kind mentioned in subsection (5)
wholly or partly on the basis of information or a copy of a
document included with the industry notice, ASIC must give the
industry body notice of that fact.
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Section 40-105
286 Corporations Act 2001
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Notices are not legislative instruments
(7) A notice under subsection (3) or (6) is not a legislative instrument.
40-105 No liability for notice given in good faith etc.
(1) An industry body is not liable civilly, criminally or under any
administrative process for giving a notice under
subsection 40-100(1) if:
(a) the body acted in good faith in giving the notice; and
(b) the suspicion that is the subject of the notice is a reasonable
suspicion.
(2) A person who, in good faith, makes a decision as a result of which
the industry body gives a notice under subsection 40-100(1) is not
liable civilly, criminally or under any administrative process for
making the decision.
(3) A person who, in good faith, gives information or a document to an
industry body that is included, or a copy of which is included, in a
notice under subsection 40-100(1) is not liable civilly, criminally
or under any administrative process for giving the information or
document.
40-110 Meaning of industry bodies
The Insolvency Practice Rules may prescribe industry bodies for
the purposes of this Subdivision.
Subdivision H—Consequences of certain disciplinary and other
action
40-111 Appointment of another liquidator if liquidator’s
registration is suspended or cancelled
(1) If:
(a) the registration of a liquidator is suspended or cancelled
under this Division; and
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(b) the liquidator is conducting the external administration of a
company at the time the registration is suspended or
cancelled;
ASIC may, in writing, appoint another registered liquidator to
conduct the external administration of the company.
(2) If:
(a) a liquidator fails to renew his or her registration as a
liquidator before that registration ceases to have effect; and
(b) no order has been made by the Court under
subsection 20-70(3) extending the period during which the
liquidator may apply for renewal; and
(c) the liquidator is conducting the external administration of a
company at the time his or her registration as a liquidator
ceases to have effect;
ASIC may, in writing, appoint another registered liquidator to
conduct the external administration of the company.
(3) Subsections (1) and (2) do not apply to:
(a) a liquidator appointed by the Court; or
(b) a winding up ordered by ASIC under section 489EA; or
(c) a members’ voluntary winding up.
Note: For court-appointed liquidators, see section 473A. For a winding up
ordered by ASIC, see section 489EA. For a members’ voluntary
winding up, see section 495.
(4) An appointment of a registered liquidator by ASIC under
subsection (1) must not be made without the written consent of the
liquidator.
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Division 45 Court oversight of registered liquidators
Section 45-1
288 Corporations Act 2001
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Division 45—Court oversight of registered liquidators
45-1 Court may make orders in relation to registered liquidators
(1) The Court may make such orders as it thinks fit in relation to a
registered liquidator.
(2) The Court may exercise the power under subsection (1):
(a) on its own initiative, during proceedings before the Court; or
(b) on application under subsection (3).
(3) Each of the following persons may apply for an order under
subsection (1):
(a) the registered liquidator;
(b) ASIC.
(4) Without limiting the matters which the Court may take into
account when making orders, the Court may take into account:
(a) whether the registered liquidator has faithfully performed, or
is faithfully performing, the registered liquidator’s duties;
and
(b) whether an action or failure to act by the registered liquidator
is in compliance with this Act and the Insolvency Practice
Rules; and
(c) whether an action or failure to act by the registered liquidator
is in compliance with an order of the Court; and
(d) whether any person has suffered, or is likely to suffer, loss or
damage because of an action or failure to act by the
registered liquidator; and
(e) the seriousness of the consequences of any action or failure
to act by the registered liquidator, including the effect of that
action or failure to act on public confidence in registered
liquidators as a group.
(5) This section does not limit the Court’s powers under any other
provision of this Act, or under any other law.
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Section 45-5
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45-5 Court may make orders about costs
(1) Without limiting section 45-1, the Court may make orders in
relation to a registered liquidator that deal with the costs of a
matter considered by the Court.
(2) Those orders may include an order that:
(a) the registered liquidator is personally liable for some or all of
those costs; and
(b) the registered liquidator is not entitled to be reimbursed by a
company or its creditors in relation to some or all of those
costs.
(3) This section does not limit the Court’s powers under any other
provision of this Act, or under any other law.
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Division 50 Committees under this Part
Section 50-1
290 Corporations Act 2001
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Division 50—Committees under this Part
50-1 Simplified outline of this Division
This Division sets out common rules for committees established
under this Part.
If a prescribed body appoints a person to a committee, that person
must have the prescribed knowledge or experience or, if no
knowledge or experience is prescribed, the knowledge and
experience necessary to carry out the functions to be performed. If
the Minister appoints a person to a committee, that person must
have knowledge or experience in a field such as business, law
(including the law of corporate insolvency) or public policy
relating to corporate insolvency.
A single committee may consider more than one matter. The
consideration of a matter is not affected by a change in the
membership of the committee. A matter may be adjourned or
transferred to another committee. The Insolvency Practice Rules
may prescribe procedures and make other rules for committees.
The use and disclosure of information given to a committee is
restricted to listed purposes.
50-5 Prescribed body appointing a person to a committee
Application of this section
(1) This section applies if a prescribed body is to appoint a person to a
committee under this Part.
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Prescribed body must only appoint a person with appropriate
knowledge and experience
(2) The prescribed body is to appoint a person as a member of the
committee only if the prescribed body is satisfied that the person
has:
(a) if any knowledge or experience is prescribed in relation to
appointments of the kind to be made—that knowledge or
experience; or
(b) if no knowledge or experience is prescribed in relation to
appointments of the kind to be made—the knowledge and
experience necessary to carry out the person’s functions as a
member of the committee if appointed.
50-10 Minister appointing a person to a committee
Application of this section
(1) This section applies if the Minister is to appoint a person to a
committee under any of the following paragraphs:
(a) paragraph 20-10(2)(c);
(b) paragraph 20-45(2)(c);
(c) paragraph 40-45(2)(c);
(d) paragraph 40-75(2)(c).
Matters of which the Minister must be satisfied before appointing
(2) The Minister is to appoint a person as a member of the committee
only if the Minister is satisfied that the person is qualified for
appointment by virtue of his or her knowledge of, or experience in,
one or more of the following fields:
(a) business;
(b) law, including the law relating to corporate insolvency;
(c) economics;
(d) accounting;
(e) public policy relating to corporate insolvency;
(f) administration of companies, including insolvent companies.
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Part 2 Registering and disciplining practitioners
Division 50 Committees under this Part
Section 50-15
292 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Minister must not appoint member or staff member of ASIC
(3) The Minister must not appoint:
(a) a member of ASIC (within the meaning of section 9 of the
Australian Securities and Investments Commission Act
2001); or
(b) a staff member of ASIC;
to be a member of the committee.
Delegation of power to appoint
(4) The Minister may, in writing, delegate the Minister’s powers to
appoint a person to a committee to:
(a) ASIC; or
(b) a member of ASIC (within the meaning of section 9 of the
Australian Securities and Investments Commission Act
2001); or
(c) a staff member of ASIC who:
(i) is an SES employee or acting SES employee; or
(ii) is an APS employee who holds, or is acting in, an
Executive Level 2 position; or
(iii) holds, or is acting in, an office or position that is
equivalent to an SES employee, or an Executive Level
2.
(5) In exercising powers under a delegation, the delegate must comply
with any directions of the Minister.
50-15 Single committee may consider more than one matter
A single committee may be convened under this Part to consider
one or more of the following:
(a) a matter or matters relating to one applicant for registration
as a liquidator;
(b) a matter or matters relating to more than one applicant for
registration as a liquidator;
(c) a matter or matters relating to one registered liquidator;
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Committees under this Part Division 50
Section 50-20
Corporations Act 2001 293
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(d) a matter or matters relating to more than one registered
liquidator.
50-20 Ongoing consideration of matters by committee
If a committee is convened under this Part to consider a matter:
(a) the committee’s powers, functions and duties in relation to
the matter are not affected by a change in the membership of
the committee; and
(b) the committee may adjourn its consideration of the matter,
and may do so more than once; and
(c) the matter may be transferred to another committee with
powers, functions and duties under this Part in relation to
matters of that kind.
50-25 Procedure and other rules relating to committees
The Insolvency Practice Rules may provide for and in relation to:
(a) the manner in which the committees convened under this Part
are to perform their functions, including:
(i) meetings of committees; and
(ii) the number of committee members required to
constitute a quorum; and
(iii) disclosure of interests in a matter before a committee;
and
(iv) the manner in which questions are to be decided by the
committee; and
(b) the reconstitution of a committee; and
(c) the termination of the consideration of a matter by a
committee, and the transfer of matters to another committee.
50-30 Remuneration of committee members
(1) A member of a committee convened under this Part is entitled to
receive the remuneration that is determined by the Remuneration
Tribunal. If no determination of that remuneration by the Tribunal
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Section 50-35
294 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
is in operation, the member is entitled to receive such remuneration
as the Minister determines in writing.
(2) A member is entitled to receive such allowances as the Minister
determines in writing.
(3) This section has effect subject to the Remuneration Tribunal Act
1973.
50-35 Committee must only use information etc. for purposes for
which disclosed
Offence
(1) A person commits an offence if:
(a) the person is or was a member of a committee convened
under this Part; and
(b) information or a document is or was disclosed to the person
for the purposes of exercising powers or performing
functions as a member of the committee; and
(c) the person uses or discloses the information or document.
Penalty: 50 penalty units.
Exception—information or document disclosed to the
Inspector-General in Bankruptcy or another committee etc.
(2) Subsection (1) does not apply if the information or document:
(a) is used or disclosed by the person for the purposes of
exercising powers or performing functions as a member of
the committee mentioned in subsection (1); or
(b) is disclosed:
(i) to the Inspector-General in Bankruptcy to assist the
Inspector-General to exercise his or her powers or
perform his or her functions under the Bankruptcy Act
1966; or
(ii) to a committee convened under Part 2 of the Insolvency
Practice Schedule (Bankruptcy) to assist the committee
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Corporations Act 2001 295
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to exercise its powers or perform its functions under that
Part; or
(iii) to another committee convened under this Part to assist
the committee to exercise its powers or perform its
functions under this Part; or
(iv) to enable or assist a body prescribed for the purposes of
this paragraph to perform its disciplinary function in
relation to its members; or
(v) in order to enable or assist an authority or person in a
State or Territory, or a foreign country, to perform or
exercise a function or power that corresponds, or is
analogous, to any of the committee’s or ASIC’s
functions and powers; or
(vi) to a court or tribunal in relation to proceedings before
the court or tribunal.
Note: A defendant bears an evidential burden in relation to the matter in
subsection (2) (see subsection 13.3(3) of the Criminal Code).
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Part 3 General rules relating to external administrations
Division 55 Introduction
Section 55-1
296 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 3—General rules relating to external
administrations
Division 55—Introduction
55-1 Simplified outline of this Part
This Part sets out requirements for conducting the external
administration of a company.
The main provisions deal with:
(a) the remuneration of the external administrator; and
(b) the duties of the external administrator in handling the
money and other property of the company; and
(c) conflicts of interest; and
(d) the duties of the external administrator to keep
appropriate records, to report to ASIC and to give
information, documents and reports to creditors,
members of the company and others; and
(e) creditor and company meetings; and
(f) the creation and conduct of a committee to monitor the
external administration (called a committee of
inspection); and
(g) the rights of creditors to review the external
administration; and
(h) the rights of creditors to remove the external
administrator and appoint another; and
(i) the review of the external administration by the Court.
There are additional rules that apply to companies under external
administration in Chapter 5 (for example, about appointment of
external administrators) of this Act.
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Section 55-1
Corporations Act 2001 297
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Companies in receivership are not covered in this Part (see
generally Part 5.2 of this Act).
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Division 60 Remuneration and other benefits received by external administrators
Section 60-1
298 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 60—Remuneration and other benefits received by
external administrators
Subdivision A—Introduction
60-1 Simplified outline of this Division
Remuneration
The external administrator of a company is entitled to receive
remuneration for necessary work properly performed by the
external administrator in relation to the external administration.
The amount of remuneration will usually be set under a
remuneration determination. Remuneration determinations are
made by:
(a) in a members voluntary winding up—the members; and
(b) in most other cases—the creditors or the committee of
inspection (if there is one).
However, if there is no remuneration determination, the external
administrator will be entitled to receive a reasonable amount for
the work. The maximum amount that the external administrator
may receive in this way is $5,000 (exclusive of GST and indexed).
The remuneration of provisional liquidators is, in most cases,
determined by the Court.
The Court may review the remuneration of the external
administrator of a company and may also make orders under
Division 90 about remuneration (including ordering repayment of
remuneration).
Other benefits
The external administrator of a company must not:
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Corporations Act 2001 299
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(a) employ a related entity, unless certain requirements are
met;
(b) purchase any assets of the company; or
(c) get any other benefits or profits from the administration.
Subdivision B—Remuneration of external administrators—
general rules
60-2 Application of this Subdivision
This Subdivision applies in relation to an external administrator of
a company other than:
(a) a provisional liquidator; or
(b) a liquidator appointed by ASIC under section 489EC
(winding up by ASIC).
Note: For the remuneration of provisional liquidators, see Subdivision C of
this Division. For the remuneration of liquidators appointed by ASIC
under section 489EC, see Subdivision D of this Division.
60-5 External administrator’s remuneration
Remuneration in accordance with remuneration determinations
(1) An external administrator of a company is entitled to receive
remuneration for necessary work properly performed by the
external administrator in relation to the external administration, in
accordance with the remuneration determinations (if any) for the
external administrator (see section 60-10).
Remuneration for external administrators if no remuneration
determination made
(2) If no remuneration determination is made in relation to necessary
work properly performed by the external administrator of a
company in relation to the external administration, the
administrator is entitled to receive reasonable remuneration for the
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Section 60-10
300 Corporations Act 2001
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work. However, that remuneration must not exceed the maximum
default amount.
60-10 Remuneration determinations
Remuneration determinations
(1) A determination, specifying remuneration that an external
administrator of a company (other than an external administrator in
a members’ voluntary winding up) is entitled to receive for
necessary work properly performed by the external administrator in
relation to the external administration, may be made:
(a) by resolution of the creditors; or
(b) if there is a committee of inspection and a determination is
not made under paragraph (a)—by the committee of
inspection; or
(c) if a determination is not made under paragraph (a) or (b)—by
the Court.
Note: For determinations made by the Court, see also section 60-12 (matters
to which the Court must have regard).
(2) A determination, specifying remuneration that an external
administrator of a company in a members’ voluntary winding up is
entitled to receive for necessary work properly performed by the
external administrator in relation to the external administration,
may be made:
(a) by resolution of the company at a general meeting; or
(b) if a determination is not made under paragraph (a)—by the
Court.
Note: For determinations made by the Court, see also section 60-12 (matters
to which the Court must have regard).
(3) A determination under this section may specify remuneration that
the external administrator is entitled to receive in either or both of
the following ways:
(a) by specifying an amount of remuneration;
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Corporations Act 2001 301
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(b) by specifying a method for working out an amount of
remuneration.
Remuneration on a time-cost basis
(4) If a determination under this section specifies that the external
administrator is entitled to receive remuneration worked out wholly
or partly on a time-cost basis, the determination must include a cap
on the amount of remuneration worked out on a time-cost basis
that the external administrator is entitled to receive.
More than one remuneration determination may be made
(5) To avoid doubt, more than one determination under this section
may be made in relation to a particular external administrator of a
company and a particular external administration of a company.
60-11 Review of remuneration determinations
Review on application
(1) Any of the following may apply to the Court for a review of a
remuneration determination for an external administrator of a
company:
(a) ASIC;
(b) a person with a financial interest in the external
administration of the company;
(c) an officer of the company.
(2) Paragraph (1)(c) has effect despite section 198G.
Note: Section 198G deals with powers of officers etc. while a company is
under external administration.
(3) On application under subsection (1), the Court may, if it considers
it appropriate to do so, review the remuneration determination.
Note: See also section 60-12 (matters to which the Court must have regard).
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Section 60-12
302 Corporations Act 2001
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Court must affirm, vary or set aside remuneration determination
(4) After reviewing the remuneration determination, the Court must:
(a) affirm the remuneration determination; or
(b) vary the remuneration determination; or
(c) set aside the remuneration determination and substitute
another remuneration determination.
Exception
(5) Subsection (1) does not apply to a remuneration determination
made by the Court.
60-12 Matters to which the Court must have regard
In making a remuneration determination under
paragraph 60-10(1)(c) or (2)(b), or reviewing a remuneration
determination under section 60-11, the Court must have regard to
whether the remuneration is reasonable, taking into account any or
all of the following matters:
(a) the extent to which the work by the external administrator
was necessary and properly performed;
(b) the extent to which the work likely to be performed by the
external administrator is likely to be necessary and properly
performed;
(c) the period during which the work was, or is likely to be,
performed by the external administrator;
(d) the quality of the work performed, or likely to be performed,
by the external administrator;
(e) the complexity (or otherwise) of the work performed, or
likely to be performed, by the external administrator;
(f) the extent (if any) to which the external administrator was, or
is likely to be, required to deal with extraordinary issues;
(g) the extent (if any) to which the external administrator was, or
is likely to be, required to accept a higher level of risk or
responsibility than is usually the case;
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(h) the value and nature of any property dealt with, or likely to
be dealt with, by the external administrator;
(i) the number, attributes and conduct, or the likely number,
attributes and conduct, of the creditors;
(j) if the remuneration is worked out wholly or partly on a
time-cost basis—the time properly taken, or likely to be
properly taken, by the external administrator in performing
the work;
(k) whether the external administrator was, or is likely to be,
required to deal with one or more controllers, or one or more
managing controllers;
(l) if:
(i) a review has been carried out under Subdivision C of
Division 90 (review by another registered liquidator)
into a matter that relates to the external administration;
and
(ii) the matter is, or includes, remuneration of the external
administrator;
the contents of the report on the review that relate to that
matter;
(m) any other relevant matters.
60-15 Maximum default amount
Maximum default amount
(1) The maximum default amount for an external administrator of a
company is an amount (exclusive of GST) worked out as follows:
(a) if the external administrator is appointed in relation to the
external administration of the company during the financial
year beginning on 1 July 2016—$5,000;
(b) if the external administrator is appointed in relation to the
external administration of the company during a financial
year beginning on or after 1 July 2017—the greater of:
(i) the amount worked out by multiplying the indexation
factor for the financial year (worked out under
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Section 60-15
304 Corporations Act 2001
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subsections (3) and (4)) by the maximum default
amount for an external administrator appointed during
the previous financial year; and
(ii) the amount (if any) prescribed for the purposes of this
subparagraph.
Rounding
(2) Amounts worked out under subsection (1) must be rounded to the
nearest whole dollar (rounding 50 cents upwards).
Indexation factor
(3) Subject to subsection (4), the indexation factor for a financial year
is the number worked out by dividing the index number for the
March quarter immediately preceding that financial year by the
index number for the March quarter immediately preceding that
first-mentioned March quarter.
(4) If an indexation factor worked out under subsection (3) would be
less than 1, the indexation factor is to be increased to 1.
Changes to CPI index reference period and publication of
substituted index numbers
(5) In working out the indexation factor:
(a) use only the index numbers published in terms of the most
recently published index reference period for the Consumer
Price Index; and
(b) disregard index numbers published in substitution for
previously published index numbers (except where the
substituted numbers are published to take account of changes
in the index reference period).
Definition—index number
(6) In this section:
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Section 60-16
Corporations Act 2001 305
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index number, in relation to a quarter, means the All Groups
Consumer Price Index number, being the weighted average of the 8
capital cities, published by the Australian Statistician in respect of
that quarter.
Subdivision C—Remuneration of provisional liquidators
60-16 Remuneration of provisional liquidators
(1) A provisional liquidator is entitled to receive such remuneration,
by way of percentage or otherwise, as is:
(a) determined by the Court; or
(b) if:
(i) no determination by the Court is in force; and
(ii) there is a committee of inspection;
determined by agreement between the liquidator and the
committee of inspection; or
(c) if:
(i) no determination by the Court is in force; and
(ii) there is no committee of inspection or the liquidator and
the committee of inspection fail to agree;
determined by resolution of the creditors.
(2) Sections 60-11 and 60-12 (Court review) apply in relation to a
determination mentioned in this section in the same way as they
apply to a remuneration determination made under section 60-10.
Subdivision D—Remuneration of liquidators in winding up by
ASIC
60-17 Remuneration of liquidators in winding up by ASIC
If ASIC orders under section 489EA that a company be wound up,
ASIC may determine the remuneration that the liquidator is
entitled to receive.
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Division 60 Remuneration and other benefits received by external administrators
Section 60-20
306 Corporations Act 2001
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Subdivision E—Duties of external administrators relating to
remuneration and benefits etc.
60-20 External administrator must not derive profit or advantage
from the administration of the company
Deriving profit or advantage from the company
(1) An external administrator of a company must not directly or
indirectly derive any profit or advantage from the external
administration of the company.
Circumstances in which profit or advantage is taken to be derived
(2) To avoid doubt, an external administrator of a company is taken to
derive a profit or advantage from the external administration of the
company if:
(a) the external administrator directly or indirectly derives a
profit or advantage from a transaction (including a sale or
purchase) entered into for or on account of the company; or
(b) the external administrator directly or indirectly derives a
profit or advantage from a creditor or member of the
company; or
(c) a related entity of the external administrator directly or
indirectly derives a profit or advantage from the external
administration of the company.
Exceptions
(3) Subsection (1) does not apply to the extent that:
(a) another provision of this Act, or of another law, requires or
permits the external administrator to derive the profit or
advantage; or
(b) the Court gives leave to the external administrator to derive
the profit or advantage.
Note: Subsection (1) would not, for example, prevent the external
administrator from recovering remuneration for necessary work
properly performed by the external administrator in relation to the
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Section 60-20
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external administration of the company, as the external administrator
is permitted to do so under other provisions of this Act.
(4) Despite paragraph (2)(c), subsection (1) does not apply to the
extent that:
(a) the external administrator employs or engages a person to
provide services in connection with the external
administration of the company; and
(b) a related entity of the external administrator directly or
indirectly derives a profit or advantage as a result of that
employment or engagement; and
(c) one of the following is satisfied:
(i) the external administrator does not know, and could not
reasonably be expected to know, that the related entity
would derive that profit or advantage;
(ii) the creditors, by resolution, agree to the related entity
deriving the profit or advantage;
(iii) it is not reasonably practicable in all the circumstances
to obtain the agreement, by resolution, of the creditors
to the related entity deriving the profit or advantage and
the cost of employing or engaging the person to provide
the services is reasonable in all the circumstances.
(4A) Despite paragraph (2)(c), subsection (1) does not apply to the
extent that a related entity of the external administrator directly or
indirectly derives a profit or advantage:
(a) from remuneration paid to the external administrator in
accordance with section 60-5 of this Schedule; or
(b) from a profit or advantage covered by subsection (4).
(5) Subsection (1) does not apply to the extent that the profit or
advantage is a payment that:
(a) is made to the external administrator by or on behalf of the
Commonwealth or an agency or authority of the
Commonwealth; and
(b) is of a kind prescribed.
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Section 60-20
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Offence
(6) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person fails to comply with the requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matters in
subsections (3), (4) and (5) (see subsection 13.3(3) of the Criminal
Code).
Effect of contravention of this section
(7) A transaction or any other arrangement entered into in
contravention of this section may be set aside by the Court.
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Funds handling Division 65
Section 65-1
Corporations Act 2001 309
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Division 65—Funds handling
65-1 Simplified outline of this Division
The external administrator of a company has duties to:
(a) promptly pay all company money into an account
(called an administration account); and
(b) promptly deposit instruments such as securities with a
bank; and
(c) keep the account separate and not pay any money that is
not company money into the account; and
(d) only pay money out of the account if it is for a
legitimate purpose.
The external administrator of a company may keep a single
account for a group of related companies (called a pooled group).
People with a financial interest in the external administration of a
company (such as creditors) may ask the Court to give directions to
the external administrator about the way money and other property
of the company is to be handled.
If the external administrator of a company does not comply with
this Division, the external administrator may have to pay penalties,
be paid less remuneration or be removed as external administrator.
65-5 External administrator must pay all money into an
administration account
External administrator must pay money into the administration
account
(1) The external administrator of a company must pay all money
received by the external administrator on behalf of, or in relation
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Section 65-10
310 Corporations Act 2001
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to, the company into an administration account for the company
within 5 business days after receipt.
Exception
(2) If the Court gives a direction that is inconsistent with
subsection (1), that subsection does not apply to the extent of the
inconsistency.
Offence
(3) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person fails to comply with the requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in
subsection (2) (see subsection 13.3(3) of the Criminal Code).
65-10 Administration accounts
(1) A bank account is an administration account for a company if:
(a) the account is maintained in relation to the external
administration of the company; and
(b) if any requirements are prescribed in relation to the
administration accounts of companies under external
administration, the account complies with those
requirements.
(2) A bank account is an administration account for a member of a
pooled group of companies if:
(a) the account is maintained in relation to the external
administration of the pooled group of companies; and
(b) if any requirements are prescribed in relation to the
administration accounts of companies under external
administration, the account complies with those
requirements.
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Section 65-15
Corporations Act 2001 311
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65-15 External administrator must not pay other money into the
administration account
External administrator must not pay other money into the
administration account
(1) The external administrator of a company must not pay any money
into an administration account for the company if it is not received
by the external administrator on behalf of, or in relation to:
(a) the company; or
(b) if the company is a member of a pooled group—another
member of the pooled group.
Exception
(2) If the Court gives a direction that is inconsistent with
subsection (1), that subsection does not apply to the extent of the
inconsistency.
Offence
(3) A person commits an offence of strict liability if:
(a) the person is subject to the requirement under subsection (1);
and
(b) the person fails to comply with the requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in
subsection (2) (see subsection 13.3(3) of the Criminal Code).
65-20 Consequences for failure to pay money into administration
account
Application of this section
(1) This section applies if:
(a) an external administrator of a company:
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Section 65-25
312 Corporations Act 2001
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(i) is subject to a requirement under subsection 65-5(1)
(paying money into administration account); and
(ii) fails to comply with the requirement in relation to an
amount of money; and
(b) the amount exceeds:
(i) $50; or
(ii) if another amount is prescribed—that other amount.
Exception
(2) Subsection (1) does not apply if, on the application of the external
administrator of the company, the Court is satisfied that the
external administrator had sufficient reason for failing to comply
with the requirement in relation to the amount.
External administrator must pay penalty on excess
(3) The external administrator must, as a penalty, pay interest to the
Commonwealth on the excess, worked out:
(a) at the rate of 20% per year; or
(b) if another rate is prescribed—at that other rate;
for the period during which the external administrator fails to
comply with the requirement.
(4) The external administrator is personally liable for, and is not
entitled to be reimbursed out of the property of the company in
relation to, the payment of that interest.
65-25 Paying money out of administration account
Money only to be paid out of administration account in accordance
with this Act etc.
(1) An external administrator of a company must not pay any money
out of the administration account for the company otherwise than:
(a) for purposes related to the external administration of the
company; or
(b) in accordance with this Act; or
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Section 65-40
Corporations Act 2001 313
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(c) in accordance with a direction of the Court.
Offence
(2) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person fails to comply with the requirement.
Penalty: 50 penalty units.
65-40 Handling securities
Securities must be deposited with administration account bank
(1) An external administrator of a company must deposit in a bank:
(a) the negotiable instruments; and
(b) any other securities;
payable to the company or the external administrator as soon as
practicable after they are received by the external administrator.
Exception
(2) If the Court gives a direction that is inconsistent with
subsection (1), that subsection does not apply to the extent of the
inconsistency.
Offence
(3) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person fails to comply with the requirement.
Penalty: 5 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in
subsection (2) (see subsection 13.3(3) of the Criminal Code).
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Section 65-45
314 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Delivery of securities
(4) The negotiable instruments or other security must be delivered out
on the signed request of the external administrator.
65-45 Handling of money and securities—Court directions
(1) The Court may, on application, give directions regarding the
payment, deposit or custody of:
(a) money; and
(b) negotiable instruments and other securities;
that are payable to, or held by, an external administrator of a
company.
(2) The Court may, on application, give directions authorising the
external administrator of a company to make payments into and out
of a special bank account.
(3) Without limiting subsection (2), the Court may:
(a) authorise the payments for the time and on the terms it thinks
fit; and
(b) if the Court thinks the account is no longer required—at any
time order it to be closed.
(4) A copy of an order under paragraph (3)(b) must be served by the
external administrator on the bank with which the special bank
account was opened.
(5) An application under this section may be made by:
(a) any person with a financial interest in the external
administration of the company; or
(b) an officer of the company.
(6) Paragraph (5)(b) has effect despite section 198G.
Note: Section 198G deals with powers of officers etc. while a company is
under external administration.
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Section 65-50
Corporations Act 2001 315
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65-50 Rules in relation to consequences for failure to comply with
this Division
The Insolvency Practice Rules may provide for and in relation to:
(a) the payment by an external administrator of a company of
interest at such rate, on such amount and in respect of such
period as is prescribed; and
(b) disallowance of all or of such part as is prescribed of the
remuneration of an external administrator of a company; and
(c) the removal from office of an external administrator of a
company by the Court; and
(d) the payment by an external administrator of a company of
any expenses occasioned by reason of his or her default;
in cases where an external administrator contravenes or fails to
comply with this Division (including Insolvency Practice Rules
made under this Division).
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Division 70 Information
Section 70-1
316 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 70—Information
Subdivision A—Introduction
70-1 Simplified outline of this Division
The external administrator of a company must:
(a) give annual reports of the administration (called annual
administrative returns) to ASIC; and
(b) give a report of the administration to ASIC when the
administration ends; and
(c) keep books of meetings and other company affairs; and
(d) allow those books to be audited if required to do so; and
(e) allow access to those books by creditors; and
(f) give creditors, members and others requested
information, documents and reports relating to the
administration.
The committee of inspection (if there is one) may also request
information, documents and reports from the external administrator
under Division 80.
If the external administrator does not comply with a request, ASIC
may direct the external administrator to do so. If the external
administrator does not comply with the direction, ASIC may ask
the Court to order compliance. Alternatively, the person who
requested the information may ask the Court to order compliance
with the request.
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Section 70-5
Corporations Act 2001 317
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Subdivision B—Administration returns
70-5 Annual administration return
Application of this section
(1) This section applies if a person is the external administrator of a
company during all or part of an administration return year for the
external administrator for the company.
(2) However, this section does not apply if:
(a) the external administration of the company ends during the
administration return year; and
(b) the person is the external administrator of the company when
the external administration of the company ends.
Note: If a person is the external administrator of a company when the
external administration of the company ends, the person must instead
lodge a return under section 70-6.
Annual administration return to be lodged
(3) The person must lodge a return in relation to the external
administration of the company by the person during the year or
part of the year (as the case requires).
(4) The return must:
(a) be in the approved form; and
(b) be lodged with ASIC within 3 months after the end of the
year.
Note: Fees for lodging documents and late lodgement fees may be imposed
under the Corporations (Fees) Act 2001.
Meaning of administration return year
(5) Each of the following is an administration return year for an
external administrator for a company:
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(a) the period of 12 months beginning on the day on which the
person first began to be an external administrator of the
company;
(b) each subsequent period of 12 months.
Notice of lodgement to be given
(6) The person must give notice that the return has been lodged:
(a) in a members’ voluntary winding up—to the members of the
company; and
(b) in a creditors’ voluntary winding up—to the creditors; and
(c) in a court-ordered winding up—to the creditors; and
(d) if the external administrator is appointed as a provisional
liquidator—to the Court; and
(e) if the company is under administration or has executed a
deed of company arrangement—to the company;
when next forwarding any report, notice of meeting, notice of call
or dividend.
Note: For notification, see section 600G.
Returns for pooled groups
(7) If 2 or more companies are members of a pooled group, then the
returns under subsection (3) for those companies may be set out in
the same document.
70-6 End of administration return
Application of this section
(1) This section applies if the external administration of a company
ends.
End of administration return to be lodged
(2) The person who is the external administrator of the company when
the external administration of the company ends (the last external
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administrator) must lodge a return in relation to the external
administration of the company.
(3) The return must:
(a) be in the approved form; and
(b) be lodged with ASIC within 1 month after the end of the
external administration of the company.
Note 1: Fees for lodging documents and late lodgement fees may be imposed
under the Corporations (Fees) Act 2001.
Note 2: ASIC must deregister the company 3 months after the end of
administration return is lodged (see section 509).
Notice of lodgement to be given
(4) The last external administrator must give notice that the return has
been lodged to a person mentioned in subsection (5), if that person
requests in writing that the last external administrator give the
person such a notice.
Note: For notification, see section 600G.
(5) The persons who may request such a notice are:
(a) in a members’ voluntary winding up—the members of the
company; and
(b) in a creditors’ voluntary winding up—the creditors; and
(c) in a court-ordered winding up—the creditors; and
(d) if the external administrator is appointed as a provisional
liquidator—the Court; and
(e) if the company is under administration or has executed a
deed of company arrangement—the company.
Note: For notification, see section 600G.
Returns for pooled groups
(6) If 2 or more companies are members of a pooled group, then the
returns under subsection (2) for those companies may be set out in
the same document.
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Section 70-10
320 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Subdivision C—Record-keeping
70-10 Administration books
External administrator must keep proper books
(1) An external administrator of a company must keep proper books in
which the external administrator must cause to be made:
(a) entries or minutes of proceedings at meetings relating to the
external administration of the company; and
(b) such other entries as are necessary to give a complete and
correct record of the external administrator’s administration
of the company’s affairs.
(2) The external administrator must:
(a) ensure that the books are available at the external
administrator’s office for inspection; and
(b) permit a creditor or contributory, or another person acting on
the creditor’s or contributory’s behalf, to inspect the books at
all reasonable times.
Exception
(3) Subsections (1) and (2) do not apply if the external administrator
has a reasonable excuse.
Offence
(4) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1) or
(2); and
(b) the person fails to comply with the requirement.
Penalty: 5 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in
subsection (3) (see subsection 13.3(3) of the Criminal Code).
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Section 70-15
Corporations Act 2001 321
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
70-15 Audit of administration books—ASIC
ASIC may cause books to be audited
(1) ASIC may cause the books referred to in section 70-5 (annual
administration return), 70-6 (end of administration return) or 70-10
(administration books) to be audited by a registered company
auditor.
Audit on the ASIC’s initiative or on request
(2) The audit may be conducted:
(a) on ASIC’s own initiative; or
(b) at the request of the company; or
(c) at the request of a creditor; or
(d) at the request of any other person prescribed.
Auditor must prepare a report
(3) The auditor must prepare a report on the audit.
ASIC must give a copy of the report
(4) If ASIC causes books to be audited under subsection (1):
(a) ASIC must give a copy of the report prepared by the auditor
to:
(i) the external administrator of the company; and
(ii) the person who requested the report (if any); and
(b) subsection 1289(5) applies in relation to the report prepared
by the auditor as if it were a document required to be lodged.
Costs of an audit
(5) The costs of an audit under this section must be determined by
ASIC and form part of the expenses of the external administration
of the company.
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Section 70-20
322 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
70-20 Audit of administration books—on order of the Court
(1) The Court may order that an audit of the books referred to in
section 70-5 (annual administration return), 70-6 (end of
administration return) or 70-10 (administration books) be
conducted by a registered company auditor.
(2) The order may be made on application of:
(a) any person with a financial interest in the external
administration of the company; or
(b) an officer of the company.
(3) Paragraph (2)(b) has effect despite section 198G.
Note: Section 198G deals with powers of officers etc. while a company
under external administration.
(4) The Court may make such orders in relation to the audit as it thinks
fit, including:
(a) the preparation and provision of a report on the audit; and
(b) orders as to the costs of the audit.
70-25 External administrator to comply with auditor requirements
Application of this section
(1) This section applies if books are audited under section 70-15 or
70-20.
External administrator must give assistance etc.
(2) The external administrator must give the auditor such books,
information and assistance as the auditor reasonably requires.
Exception
(3) Subsection (2) does not apply if the external administrator has a
reasonable excuse.
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Section 70-30
Corporations Act 2001 323
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Offence
(4) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (2);
and
(b) the person fails to comply with the requirement.
Penalty: 5 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in
subsection (3) (see subsection 13.3(3) of the Criminal Code).
70-30 Transfer of books to new administrator
Application of this section
(1) This section applies if:
(a) a person (the former administrator) ceases to be the external
administrator of a company; and
(b) ASIC has not issued a notice to the former administrator
under section 70-31; and
(c) a registered liquidator (the new administrator) is appointed
as external administrator of the company instead.
Transfer of books to new administrator
(2) The former administrator must transfer to the new administrator,
within the handover period, possession or control of any books
relating to the external administration of the company that are in
the former administrator’s possession or control.
(3) The handover period is:
(a) the period of 10 business days beginning on the day after the
new administrator is appointed; or
(b) if another period is agreed between the former administrator
and the new administrator—that other period.
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Section 70-30
324 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(4) The former administrator may take a copy of any part of the books
before transferring possession or control of them to the new
administrator.
New administrator must accept the books
(5) The new administrator must take possession or accept control of
any books relating to the external administration of the company.
New administrator must allow inspection etc.
(6) After possession or control of the books is transferred, the new
administrator must allow the former administrator to inspect them
at any reasonable time and take a copy of any part of the books.
Offence
(7) A person commits an offence if:
(a) the person is subject to a requirement under subsection (2),
(5) or (6); and
(b) the person intentionally or recklessly fails to comply with the
requirement.
Penalty: 50 penalty units.
Lien against books not prejudiced
(8) If the new administrator is entitled to take possession or control of
the books under this section:
(a) a person is not entitled, as against the new administrator, to
claim a lien on the books; and
(b) such a lien is not otherwise prejudiced.
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Information Division 70
Section 70-31
Corporations Act 2001 325
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
70-31 Transfer of books to ASIC etc.
Transfer of books to ASIC
(1) If a person ceases to be the external administrator of a company,
ASIC may, by written notice given to the person, require the
person to:
(a) if the person has books relating to the external administration
of the company in his or her possession or control—transfer
possession or control of those books to ASIC within the
period specified in the notice; or
(b) otherwise—notify ASIC, within the period and in the manner
specified in the notice, that the person does not have books
relating to the external administration of the company in the
person’s possession or control.
Offence
(2) A person commits an offence if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person intentionally or recklessly fails to comply with the
requirement.
Penalty: 50 penalty units.
ASIC must transfer books to new external administrator
(3) If:
(a) possession or control of books relating to an external
administration of a company is transferred to ASIC under
this section; and
(b) the books are in ASIC’s possession or control; and
(c) a person (the new administrator) is or becomes the external
administrator of the company;
ASIC must, as soon as practicable, transfer possession or control of
those books to the new administrator.
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Section 70-31
326 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
ASIC must transfer books to company
(4) If:
(a) possession or control of books relating to a company is
transferred to ASIC under this section; and
(b) the books are in ASIC’s possession or control; and
(c) the company ceases to be a company under external
administration;
ASIC must, as soon as practicable, transfer possession or control of
those books to the company.
Lien against books not prejudiced
(5) If ASIC is entitled to take possession or control of the books under
this section:
(a) a person is not entitled, as against ASIC, to claim a lien on
the books; and
(b) such a lien is not otherwise prejudiced.
(6) If ASIC is required to give possession or control of the books to
the new administrator under this section:
(a) a person is not entitled, as against the new administrator, to
claim a lien on the books; and
(b) such a lien is not otherwise prejudiced.
Notice is not a legislative instrument
(7) A notice under subsection (1) is not a legislative instrument.
Retention period for books
(8) ASIC must retain all books of the company, and of the external
administration of the company:
(a) that are relevant to affairs of the company; and
(b) possession or control of which is transferred to ASIC under
this section; and
(c) possession or control of which is not transferred to another
entity under this section, or under any other law;
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Section 70-35
Corporations Act 2001 327
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
for a period (the retention period) of 2 years after the end of the
external administration of the company.
Destruction of books at end of retention period
(9) ASIC may destroy the books at the end of the retention period.
Relationship with other laws
(10) Subsections (8) and (9) do not apply to the extent that ASIC is
under an obligation to retain the books, or a part of the books,
under another provision of this Act or under any other law.
70-35 Retention and destruction of books
Retention period for books
(1) The last external administrator of a company must retain all books
of the company, and of the external administration of the company,
that:
(a) are relevant to affairs of the company; and
(b) are in the external administrator’s possession or control at the
end of the external administration;
for a period (the retention period) of 5 years from the end of the
external administration.
Exception—reasonable excuse
(2) Subsection (1) does not apply if the external administrator has a
reasonable excuse.
Exception—consent of ASIC etc.
(3) Despite subsection (1), the books may be destroyed within the
retention period:
(a) in the case of a members’ voluntary winding up—as the
company by resolution directs; and
(b) in the case of a creditor’s voluntary winding up or a
court-ordered winding up:
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(i) if there is a committee of inspection—as the committee
directs; and
(ii) otherwise—as the creditors by resolution direct; and
(c) if the external administrator is appointed as a provisional
liquidator—as the Court directs;
if ASIC consents to the destruction.
Destruction of books at end of retention period
(4) The external administrator may destroy the books at the end of the
retention period.
Offence
(5) A person commits an offence if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person intentionally or recklessly fails to comply with the
requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matters in
subsections (2) and (3) (see subsection 13.3(3) of the Criminal Code).
Relationship with other laws
(6) Subsections (3) and (4) do not apply to the extent that the external
administrator is under an obligation to retain the books, or a part of
the books, under another provision of this Act or under any other
law.
70-36 Books of company in external administration—evidence
If a company is in external administration, all books of the
company, and of the external administrator of the company, that
are relevant to affairs of the company at or after the start of the
external administration are, as between the contributories of the
company, prima facie evidence of the truth of all matters
purporting to be recorded in those books.
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Section 70-40
Corporations Act 2001 329
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Subdivision D—Giving information etc. to creditors and others
70-40 Right of creditors to request information etc. from external
administrator
(1) The creditors may by resolution request the external administrator
of a company to:
(a) give information; or
(b) provide a report; or
(c) produce a document;
to the creditors.
(2) The external administrator must comply with the request unless:
(a) the information, report or document is not relevant to the
external administration of the company; or
(b) the external administrator would breach his or her duties in
relation to the external administration of the company if the
external administrator complied with the request; or
(c) it is otherwise not reasonable for the external administrator to
comply with the request.
(3) The Insolvency Practice Rules may prescribe circumstances in
which it is, or is not, reasonable for an external administrator of a
company to comply with a request of a kind mentioned in
subsection (1).
70-45 Right of individual creditor to request information etc. from
external administrator
(1) A creditor may request the external administrator of a company to:
(a) give information; or
(b) provide a report; or
(c) produce a document;
to the creditor.
(2) The external administrator must comply with the request unless:
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Section 70-46
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(a) the information, report or document is not relevant to the
external administration of the company; or
(b) the external administrator would breach his or her duties in
relation to the external administration of the company if the
external administrator complied with the request; or
(c) it is otherwise not reasonable for the external administrator to
comply with the request.
(3) The Insolvency Practice Rules may prescribe circumstances in
which it is, or is not, reasonable for an external administrator of a
company to comply with a request of a kind mentioned in
subsection (1).
70-46 Right of members to request information etc. from external
administrator in a members’ voluntary winding up
(1) This section applies in relation to a members’ voluntary winding
up.
(2) The members of the company may by resolution request the
external administrator of the company to:
(a) give information; or
(b) provide a report; or
(c) produce a document;
to the members.
(3) The external administrator must comply with the request unless:
(a) the information, report or document is not relevant to the
external administration of the company; or
(b) the external administrator would breach his or her duties in
relation to the external administration of the company if the
external administrator complied with the request; or
(c) it is otherwise not reasonable for the external administrator to
comply with the request.
(4) The Insolvency Practice Rules may prescribe circumstances in
which it is, or is not, reasonable for an external administrator of a
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Section 70-47
Corporations Act 2001 331
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
company to comply with a request of a kind mentioned in
subsection (2).
70-47 Right of individual member to request information etc. from
external administrator in a members’ voluntary winding
up
(1) This section applies in relation to a members’ voluntary winding
up.
(2) A member of the company may request the external administrator
of a company to:
(a) give information; or
(b) provide a report; or
(c) produce a document;
to the member.
(3) The external administrator must comply with the request unless:
(a) the information, report or document is not relevant to the
external administration of the company; or
(b) the external administrator would breach his or her duties in
relation to the external administration of the company if the
external administrator complied with the request; or
(c) it is otherwise not reasonable for the external administrator to
comply with the request.
(4) The Insolvency Practice Rules may prescribe circumstances in
which it is, or is not, reasonable for an external administrator of a
company to comply with a request of a kind mentioned in
subsection (2).
70-50 Reporting to creditors and members
(1) The Insolvency Practice Rules may provide for and in relation to
the obligations of external administrators of companies:
(a) to give information; and
(b) to provide reports; and
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(c) to produce documents;
to creditors or members.
(2) Without limiting subsection (1), the Insolvency Practice Rules may
provide for and in relation to:
(a) other circumstances in which the external administrator of a
company must give information, provide a report or produce
a document to a creditor or member; and
(b) the manner and form in which information is to be given, a
report provided or a document produced; and
(c) the timeframes in which information is to be given, a report
provided or a document produced; and
(d) who is to bear the cost of giving information, providing a
report or producing a document.
(3) The Insolvency Practice Rules may:
(a) make different provision in relation to different kinds of
external administration; and
(b) provide that specified requirements imposed under the
Insolvency Practice Rules may be replaced or modified, by
resolution, by:
(i) the creditors; or
(ii) the members; or
(iii) if there is a committee of inspection—the committee.
Subdivision E—Other requests for information etc.
70-55 Commonwealth may request information etc.
Application of this section
(1) This section applies if either:
(a) a former employee of a company under external
administration has made a claim for financial assistance from
the Commonwealth in relation to unpaid employment
entitlements; or
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(b) the Commonwealth considers that such a claim is likely to be
made.
Commonwealth may request information etc.
(2) The Commonwealth may request the external administrator of the
company to provide specified information, reports or documents in
relation to the external administration.
(3) The external administrator must comply with the request.
(4) The Insolvency Practice Rules may provide for and in relation to
who is to bear the cost of providing the information, reports or
documents.
Subdivision F—Reporting to ASIC
70-60 Insolvency Practice Rules may provide for reporting to ASIC
(1) The Insolvency Practice Rules may provide for and in relation to
the obligations of an external administrator of a company:
(a) to give information; and
(b) to provide reports; and
(c) to produce documents;
to ASIC.
(2) Without limiting subsection (1), the Insolvency Practice Rules may
provide for and in relation to:
(a) the manner and form in which information is to be given, a
report provided or a document produced; and
(b) the timeframes in which information is to be given, a report
provided or a document produced; and
(c) who is to bear the cost of giving information, providing a
report or producing a document.
(3) The Insolvency Practice Rules may make different provision in
relation to different kinds of external administration.
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Section 70-65
334 Corporations Act 2001
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Note: A failure to give information, provide a report or produce a document
to ASIC in accordance with the Insolvency Practice Rules may lead to
disciplinary action under Subdivision B of Division 40 of Part 2 of
this Schedule.
Subdivision G—External administrator may be compelled to
comply with requests for information etc.
70-65 Application of this Subdivision
(1) This Subdivision applies if the external administrator of a company
refuses a request made by a person under:
(a) Subdivision D; or
(b) a rule made under section 70-50;
(c) Subdivision E; or
(d) section 80-40;
to give information, provide a report or produce a document.
(2) In this Subdivision:
(a) the information, report or document is referred to as the
relevant material; and
(b) the request is referred to as the request for relevant material;
and
(c) giving the information, providing the report or producing the
document is referred to as giving the relevant material.
70-70 ASIC may direct external administrator to comply with the
request for relevant material
(1) ASIC may, in writing, direct the external administrator to give all
or part of the relevant material to the person or persons who made
the request for the relevant material within 5 business days after
the direction is given.
(2) A direction under subsection (1) is not a legislative instrument.
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Section 70-75
Corporations Act 2001 335
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70-75 ASIC must notify external administrator before giving a
direction under section 70-70
(1) Before giving the external administrator a direction under
section 70-70, ASIC must give the external administrator notice in
writing:
(a) stating that ASIC proposes to give the external administrator
a direction under that section; and
(b) identifying:
(i) the relevant material, or the part of the relevant material,
that ASIC proposes to direct be given; and
(ii) the person or persons to whom ASIC proposes to direct
that the relevant material, or that part of the relevant
material, be given; and
(c) inviting the external administrator to make a written
submission to ASIC within 10 business days after the notice
is given, stating:
(i) whether the external administrator has any objection to
giving the relevant material, or that part of the relevant
material, to a person or persons as proposed; and
(ii) if the external administrator has such an objection—the
reasons for that objection.
(2) If the external administrator objects to giving the relevant material,
or part of the relevant material, to a person, ASIC must take into
account the reasons for that objection when deciding whether to
direct that the relevant material, or that part of the relevant
material, be given to the person.
(3) A notice under subsection (1) is not a legislative instrument.
70-80 ASIC must not direct external administrator to give the
relevant material if external administrator entitled not to
comply with the request
ASIC must not give a direction under section 70-70 to give the
relevant material, or part of the relevant material, to a person if
ASIC is satisfied that the external administrator was entitled, under
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Section 70-85
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a provision of this Act or any other law, not to comply with the
request for the relevant material, or that part of the relevant
material, to the person.
70-85 ASIC may impose conditions on use of the relevant material
ASIC may, by notice, impose conditions
(1) ASIC may, by notice in writing to the person or persons to whom
the relevant material is to be given, impose conditions on the use
and disclosure of the relevant material, or part of the relevant
material, by the person or persons.
Offence
(2) A person commits an offence if:
(a) ASIC directs that the relevant material, or part of the relevant
material, be given to the person; and
(b) ASIC has given the person notice under subsection (1)
imposing a condition in relation to the use or disclosure of
that material by the person; and
(c) the person does not comply with the condition.
Penalty: 10 penalty units or imprisonment for 3 months, or both.
Notice is not a legislative instrument
(3) A notice under subsection (1) is not a legislative instrument.
70-90 Court may order relevant material to be given
(1) The person or persons who made the request for the relevant
material may apply to the Court for an order that the external
administrator give the person or persons all or part of the relevant
material.
(2) If:
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(a) ASIC gives the external administrator a direction under
section 70-70 in relation to all or part of the relevant
material; and
(b) the external administrator does not comply with the direction;
ASIC may apply to the Court for an order that the external
administrator comply with the direction.
(3) On application under subsection (1) or (2), the Court may:
(a) order the external administrator to give the person, or any or
all of the persons, who made the request for the relevant
material all or part of that material; and
(b) make such other orders, including orders as to costs, as it
thinks fit.
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Section 75-1
338 Corporations Act 2001
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Division 75—Meetings
75-1 Simplified outline of this Division
The external administrator of a company may convene creditor or
company meetings at any time and must convene them in particular
circumstances, for example when directed to do so by certain
creditors or by ASIC.
Under Chapter 5 of this Act, there are other instances in which an
external administrator must hold a meeting.
Requirements for convening and holding meetings (including
notice, agenda, quorum, voting on proposals and costs) are set out
in the Insolvency Practice Rules.
There is a mechanism for resolving a matter without holding a
meeting.
75-5 Other obligations to convene meetings not affected
Nothing in this Division limits the operation of any other provision
of this Act, or any other law, imposing an obligation to convene a
meeting in relation to a company, or the external administration of
a company.
75-10 External administrator may convene meetings
The external administrator of a company may convene:
(a) a meeting of the creditors; or
(b) in the case of a members’ voluntary winding up—a general
meeting of the company;
at any time.
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Section 75-15
Corporations Act 2001 339
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75-15 External administrator must convene meeting in certain
circumstances
(1) The external administrator of a company must convene a meeting
of the creditors if:
(a) where there is a committee of inspection—the committee of
inspection directs the external administrator to do so; or
(b) the creditors direct the external administrator to do so by
resolution; or
(c) at least 25% in value of the creditors direct the external
administrator to do so in writing; or
(d) both of the following are satisfied:
(i) less than 25%, but more than 10%, in value of the
creditors direct the external administrator to do so in
writing;
(ii) security for the cost of holding the meeting is given to
the external administrator before the meeting is
convened; or
(e) all of the following are satisfied:
(i) the company is being wound up under a creditors’
voluntary winding up;
(ii) less than 25%, but more than 5%, in value of the
creditors direct the external administrator to do so in
writing;
(iii) none of the creditors who give the direction is a related
entity in relation to the company;
(iv) the direction is given no more than 20 business days
after the resolution for the voluntary winding up of the
company is passed.
(2) However, the external administrator need not comply with the
direction if the direction is not reasonable.
(3) The Insolvency Practice Rules may prescribe circumstances in
which a direction is, or is not, reasonable.
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Section 75-20
340 Corporations Act 2001
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(4) For the purposes of paragraphs (1)(c), (d) and (e), the value of the
creditors is to be worked out by reference to the value of the
creditors’ claims against the company that are known at the time
the direction is given.
(5) This section does not apply if:
(a) the external administrator is a provisional liquidator of the
company; or
(b) the external administrator is the administrator of the company
and the company is under administration.
75-20 External administrator must convene meeting if required by
ASIC
(1) ASIC may, in writing, direct an external administrator of a
company to convene a meeting of the creditors.
(2) ASIC may include in the direction requirements to be complied
with by the external administrator in notifying the creditors of the
meeting and in conducting the meeting.
(3) The external administrator must comply with a direction given
under subsection (1), and any requirements included in the
direction under subsection (2).
(4) A direction given under subsection (1) is not a legislative
instrument.
75-25 External administrator’s representative at meetings
(1) The external administrator of a company may, in writing, appoint a
person to represent the external administrator at a meeting.
(2) Subsection (1) does not apply to a meeting of a kind prescribed.
(3) If the external administrator is not personally present at a meeting,
then a reference in a provision of this Act to the external
administrator of a company, in respect of matters occurring at or in
connection with the meeting, is a reference to a person appointed to
represent the external administrator at the meeting.
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Section 75-30
Corporations Act 2001 341
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75-30 ASIC may attend meetings
(1) ASIC is entitled to attend any meeting of creditors or contributories
held under this Act.
(2) Subject to any provision of this Act (including any provision in
relation to voting), ASIC is entitled to participate in any meeting of
creditors held under this Act.
75-35 Commonwealth may attend certain meetings etc.
Application of this section
(1) This section applies if:
(a) a company is under external administration; and
(b) either:
(i) a former employee of the company has made a claim for
financial assistance from the Commonwealth in relation
to unpaid employment entitlements; or
(ii) the Commonwealth considers that such a claim is likely
to be made.
Commonwealth may nominate representative for meetings
(2) The Commonwealth is entitled to nominate a representative to
attend any meeting of creditors or contributories held in relation to
the external administration.
75-40 Proposals to creditors or contributories without meeting
Proposal by notice to creditors
(1) The external administrator of a company may at any time put a
proposal to the creditors or contributories by giving notice, in
writing, under this section.
Content and service of notice
(2) The notice must:
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(a) contain a single proposal; and
(b) include a statement of the reasons for the proposal and the
likely impact it will have on creditors or contributories, as the
case may be (if it is passed); and
(c) be given to each creditor or contributory, as the case may be,
who would be entitled to receive notice of a meeting of
creditors or contributories, as the case may be; and
(d) invite the creditor or contributory, as the case may be, to
either:
(i) vote Yes or No on the proposal; or
(ii) object to the proposal being resolved without a meeting
of creditors or contributories, as the case may be; and
(e) specify a reasonable time by which replies must be received
by the external administrator (in order to be taken into
account).
Evidentiary certificate relating to proposals
(3) A certificate signed by the external administrator of the company
stating any matter relating to a proposal under this section is prima
facie evidence of the matter.
Insolvency Practice Rules relating to proposals
(4) The Insolvency Practice Rules may provide for and in relation to
proposals without meeting under this section.
(5) Without limiting subsection (4), the Insolvency Practice Rules may
provide for and in relation to:
(a) the circumstances in which a proposal is taken to be passed;
and
(b) whether a proposal, if passed, is to be taken to have been
passed as a resolution or a special resolution; and
(c) costs and security for those costs in relation to a proposal.
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Section 75-41
Corporations Act 2001 343
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75-41 Outcome of voting at creditors’ meeting determined by
related entity—Court powers
Application of this section
(1) This section applies if, on the application of a creditor of a
company under external administration, the external administrator
of the company or ASIC, the Court is satisfied of the following
matters:
(a) a proposal has been voted on by creditors (either at a meeting
of the creditors or under section 75-40 without a meeting);
(b) if the vote or votes that a particular related creditor, or
particular related creditors, of the company cast on the
proposal had been disregarded for the purposes of
determining whether or not the proposal was passed, the
proposal:
(i) if it was in fact passed—would not have been passed; or
(ii) if in fact it was not passed—would have been passed;
or the question would have had to be decided on a casting
vote;
(c) the passing of the proposal, or the failure to pass it, as the
case requires:
(i) is contrary to the interests of the creditors as a group or
of that class of creditors as a group, as the case may be;
or
(ii) has prejudiced, or is reasonably likely to prejudice, the
interests of the creditors who voted against the proposal,
or for it, as the case may be, to an extent that is
unreasonable having regard to the matters in
subsection (2).
Unreasonable prejudice to interests of creditors—matters to be
taken into account
(2) For the purposes of subparagraph (1)(c)(ii), the matters are:
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(a) the benefits resulting to the related creditor, or to some or all
of the related creditors, from the proposal if passed, or from
the failure to pass the proposal, as the case may be; and
(b) the nature of the relationship between the related creditor and
the company, or of the respective relationships between the
related creditors and the company; and
(c) any other relevant matter.
Court may make orders
(3) The Court may make one or more of the following:
(a) an order that the proposal be considered and voted on at a
meeting of the creditors convened and held as specified in the
order;
(b) an order directing that the related creditor is not, or such of
the related creditors as the order specifies are not, entitled to
vote on:
(i) the proposal; or
(ii) a resolution to amend or vary the proposal;
(c) if the proposal was passed—an order setting aside the
resolution passing the proposal;
(d) such other orders as the Court thinks fit.
Definition—related creditor
(4) In this section:
related creditor, for the purposes of a vote, in relation to a
company, means a person who, when the vote was cast, was a
related entity, and a creditor, of the company.
75-42 Creditors’ resolution passed because of casting vote—Court
review
Application of this section
(1) This section applies if:
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(a) a resolution is passed at a meeting of creditors of a company
under external administration; and
(b) the resolution is passed because the person presiding at the
meeting exercises a casting vote.
Application to the Court
(2) ASIC may apply to the Court for an order setting aside or varying
the resolution.
(3) A person (other than ASIC) may apply to the Court for an order
setting aside or varying the resolution, but only if:
(a) the person voted against the resolution in some capacity
(even if the person voted for the resolution in another
capacity); or
(b) a person voted against the resolution on the first-mentioned
person’s behalf.
Court may make orders
(4) On application under subsection (2) or (3), the Court may:
(a) by order set aside or vary the resolution; and
(b) if it does so—make such further orders, and give such
directions, as it thinks fit.
(5) On and after the making of an order varying the resolution, the
resolution has effect as varied by the order.
75-43 Proposed creditors’ resolution not passed because of casting
vote—Court’s powers
Application of this section
(1) This section applies if:
(a) a resolution is not passed at a meeting of creditors of a
company under external administration; and
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(b) the resolution is not passed because the person presiding at
the meeting exercises a casting vote, or refuses or fails to
exercise such a vote.
Application to the Court
(2) ASIC may apply to the Court for an order under subsection (4).
(3) A person (other than ASIC) may apply to the Court for an order
under subsection (4), but only if:
(a) the person voted for the proposed resolution in some capacity
(even if the person voted against the proposed resolution in
another capacity); or
(b) a person voted for the proposed resolution on the
first-mentioned person’s behalf.
Court may make orders
(4) On application under subsection (2) or (3), the Court may:
(a) order that the proposed resolution is taken to have been
passed at the meeting; and
(b) if it does so—make such further orders, and give such
directions, as it thinks fit.
(5) If an order is made under paragraph (4)(a), the proposed resolution:
(a) is taken for all purposes (other than those of subsection (1))
to have been passed at the meeting; and
(b) is taken to have taken effect:
(i) if the order specifies a time when the proposed
resolution is taken to have taken effect—at that time,
even if it is earlier than the making of the order; or
(ii) otherwise—on the making of the order.
75-44 Interim order on application under section 75-41, 75-42 or
75-43
(1) If:
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(a) an application under section 75-41, 75-42 or 75-43 has not
yet been determined; and
(b) the Court is of the opinion that it is desirable to do so;
the Court may make such interim orders as it thinks fit
(2) An interim order must be expressed to apply until the application is
determined, but may be varied or discharged.
75-45 Order under section 75-41 or 75-42 does not affect act already
done pursuant to resolution
An act done pursuant to a resolution as in force before the making,
under section 75-41 or 75-42, of an order setting aside or varying
the resolution is as valid and binding on and after the making of the
order as if the order had not been made.
75-50 Rules relating to meetings
(1) The Insolvency Practice Rules may provide for and in relation to
meetings concerning companies under external administration.
(2) Without limiting subsection (1), the Insolvency Practice Rules may
provide for and in relation to:
(a) the circumstances in which meetings must or may be
convened; and
(b) notice for convening meetings; and
(c) agenda; and
(d) information to be given in connection with meetings; and
(e) who is to preside at meetings; and
(f) the number of creditors or contributories required to
constitute a quorum; and
(g) proxies and attorneys; and
(h) motions; and
(i) voting (including casting votes); and
(j) the circumstances in which a resolution must or may be put
to creditors or contributories in a meeting; and
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Section 75-50
348 Corporations Act 2001
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(k) the circumstances in which a resolution or a special
resolution put to creditors or contributories in a meeting is
passed; and
(l) facilities, including electronic communication facilities, to be
available at meetings; and
(m) minutes; and
(n) costs in relation to meetings and security for those costs.
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Committees of inspection Division 80
Section 80-1
Corporations Act 2001 349
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Division 80—Committees of inspection
80-1 Simplified outline of this Division
Creditors of a company under external administration may decide
that there is to be a committee of inspection to monitor the
administration and to give assistance to the external administrator.
Appointing the committee
Each of the following have rights to appoint members to the
committee (and to remove those members and fill the vacancy):
(a) the creditors by resolution;
(b) a single creditor who is owed, or a group of creditors
who together are owed, a large amount;
(c) a single employee who is owed, or a group of employees
who together are owed, a large amount.
Once a person exercises a right in one capacity to appoint a
member, the person cannot exercise a right in another capacity to
do so. A person can exercise the right in a particular capacity to
appoint only one person (unless the person is filling a vacancy in
that appointment).
If a company is in a related group of companies (called a pooled
group), creditors of all the companies may decide together that
there is to be a committee of inspection for the group and appoint
members of the committee.
Procedures and powers
This Division also deals with the procedures and powers of
committees of inspection (including requesting information,
documents and reports from the external administrator and
obtaining specialist advice).
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Section 80-5
350 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
An external administrator of a company must have regard to
directions of the committee but is not obliged to comply.
Review
The Court may inquire into and make orders about the conduct of
committees of inspection.
80-5 Application of sections 80-10 to 80-25
(1) The rules in sections 80-10 to 80-25 apply if the external
administrator of a company convenes a meeting of creditors for the
purpose of determining either or both of the following:
(a) whether there is to be a committee of inspection for the
company;
(b) if there is, or is to be, a committee of inspection—who are to
be appointed members of the committee.
(2) However, those rules do not apply if the company is a member of a
pooled group.
Note: Committees of inspection for pooled groups are dealt with in
sections 80-26 and 80-27.
80-10 Committee of inspection—company not a member of a pooled
group
The creditors of a company may, by resolution, determine that
there is to be a committee of inspection in relation to the external
administration of the company.
80-15 Appointment and removal of members of committee of
inspection by creditors generally
(1) The creditors of a company may, by resolution, appoint members
of a committee of inspection in relation to the external
administration of the company.
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Section 80-20
Corporations Act 2001 351
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) The creditors of a company may by resolution:
(a) remove a person appointed as a member of the committee
under this section; and
(b) appoint another person to fill a vacancy in the office of a
member of the committee of inspection appointed under this
section.
(3) A person is not entitled to vote on a resolution to appoint or
remove a member of a committee of inspection under this section
if:
(a) the person, acting either alone or with others, appoints a
person as a member of the committee under section 80-20; or
(b) the person, acting either alone or with others, appoints a
person as a member of the committee under section 80-25.
80-20 Appointment of committee member by large creditor
(1) A creditor representing at least 10% in value of the creditors, or a
group of creditors who together represent at least 10% in value of
the creditors, of a company may appoint a person as a member of a
committee of inspection in relation to the external administration
of the company.
(2) If a creditor or a group of creditors appoints a person as a member
of a committee of inspection under this section, the creditor or
group of creditors may:
(a) remove the person as a member of the committee; and
(b) appoint another person to fill a vacancy in the office of that
member of the committee.
(3) A creditor, acting either alone or with others, is not entitled to
appoint a person as a member of a committee of inspection under
subsection (1) if:
(a) the creditor votes on a resolution to appoint or remove a
member of the committee under section 80-15; or
(b) the creditor, acting either alone or with others, appoints a
member of the committee under subsection 80-25(1); or
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Part 3 General rules relating to external administrations
Division 80 Committees of inspection
Section 80-25
352 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(c) the creditor, acting either alone or with others, has already
appointed a member of the committee under subsection (1) of
this section.
80-25 Appointment of committee member by employees
(1) Either:
(a) an employee of the company; or
(b) employees of the company;
representing at least 50% in value of entitlements owed to or in
respect of employees by the company may appoint a person as a
member of the committee of inspection to represent the employees.
(2) If an employee or a group of employees appoints a person as a
member of a committee of inspection under this section, the
employee or group of employees may:
(a) remove the person as a member of the committee; and
(b) appoint another person to fill a vacancy in the office of that
member of the committee.
(3) An employee, acting either alone or with others, is not entitled to
appoint a person as a member of a committee of inspection under
subsection (1) if:
(a) the employee votes on a resolution to appoint or remove a
member of the committee under section 80-15; or
(b) the employee, acting either alone or with others, appoints a
member of the committee under subsection 80-20(1); or
(c) the employee, acting either alone or with others, has already
appointed a member of the committee under subsection (1) of
this section.
(4) In this section:
employee of a company has the same meaning as in Part 5.8A.
entitlements of an employee of a company has the same meaning
as in Part 5.8A.
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General rules relating to external administrations Part 3
Committees of inspection Division 80
Section 80-26
Corporations Act 2001 353
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
80-26 Committee of inspection—pooled groups
Application of this section
(1) This section applies if each company that is a member of a pooled
group is being wound up.
Meeting to form a committee of inspection for a pooled group
(2) The external administrator or external administrators must, if
directed to do so under section 80-27, convene a meeting, on a
consolidated basis, of the creditors of all of the companies for the
purposes of determining either or both of the following:
(a) whether there is to be a committee of inspection for the
pooled group;
(b) if there is, or is to be, a committee of inspection for the
pooled group—who are to be appointed members of the
committee.
Committee of inspection for a pooled group becomes the committee
of inspection for each member of the pooled group
(3) A committee of inspection for a pooled group is taken to be a
committee of inspection for each company that is a member of the
pooled group.
Existing committee of inspection for a member of a pooled group
ceases to exist
(4) If:
(a) at the meeting, it is resolved that there is to be a committee of
inspection for the pooled group; and
(b) immediately before the meeting, a committee of inspection
was in existence for a company that is a member of the
pooled group;
the committee mentioned in paragraph (b) ceases to exist when the
resolution mentioned in paragraph (a) is passed.
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Part 3 General rules relating to external administrations
Division 80 Committees of inspection
Section 80-27
354 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Rules relating to companies under external administration who are
members of a pooled group
(5) The Insolvency Practice Rules may provide for and in relation to
meetings in relation to the external administration of companies
that are members of a pooled group (pooled group meetings).
(6) Without limiting subsection (5), the Insolvency Practice Rules may
provide for and in relation to:
(a) other circumstances in which pooled group meetings must or
may be convened; and
(b) voting (including casting votes) at pooled group meetings;
and
(c) the circumstances in which a resolution or a special
resolution put to creditors or contributories in a pooled group
meeting is passed; and
(d) costs in relation to pooled group meetings and security for
those costs.
80-27 External administrator must convene meeting in certain
circumstances
(1) The external administrator, or the external administrators, of the
members of a pooled group must convene a meeting under
section 80-26 if:
(a) where there is a committee of inspection for a member of the
pooled group—the committee of inspection directs the
external administrator, or external administrators, to do so; or
(b) the creditors of one of the members of the pooled group
direct the external administrator, or external administrators,
to do so, by resolution; or
(c) at least 25% in value of the creditors of one of the members
of the pooled group, direct the external administrator, or
external administrators, to do so in writing; or
(d) both of the following are satisfied:
(i) less than 25%, but more than 10%, in value of the
creditors of one of the members of the pooled group
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Committees of inspection Division 80
Section 80-27
Corporations Act 2001 355
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
direct the external administrator, or external
administrators, to do so in writing;
(ii) security for the cost of holding the meeting is given to
the external administrator, or external administrators,
before the meeting is convened; or
(e) all of the following are satisfied:
(i) the members of the pooled group are each being wound
up under a creditors’ voluntary winding up;
(ii) less than 25%, but more than 5%, in value of the
creditors of one of the members of the pooled group
direct the external administrator, or external
administrators, to do so in writing;
(iii) none of the creditors who give the direction is a related
entity in relation to that member of the pooled group;
(iv) the direction is given no more than 20 business days
after the last resolution for the voluntary winding up of
the members of the pooled group is passed.
(2) However, the external administrator, or external administrators,
need not comply with the direction if the direction is not
reasonable.
(3) The Insolvency Practice Rules may prescribe circumstances in
which a direction is, or is not, reasonable.
(4) For the purposes of paragraphs (1)(c), (d) and (e), the value of the
creditors is to be worked out by reference to the value of the
creditors’ claims (that are known at the time the direction is given)
against the member of the pooled group.
(5) This section does not apply if:
(a) one of the external administrators is a provisional liquidator
of a member of the pooled group; or
(b) one of the external administrators is the administrator of a
member of the pooled group and the member is under
administration.
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Part 3 General rules relating to external administrations
Division 80 Committees of inspection
Section 80-30
356 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
80-30 Committees of inspection—procedures etc.
(1) Subject to subsection (2), a committee of inspection is to determine
its own procedures.
(2) The Insolvency Practice Rules may provide for and in relation to
committees of inspection.
(3) Without limiting subsection (2), the Insolvency Practice Rules may
provide for and in relation to:
(a) eligibility to be appointed as a member of a committee of
inspection; and
(b) the convening of, conduct of, and procedure and voting at,
meetings; and
(c) resignation and removal of members; and
(d) vacancies in membership.
80-35 Functions of committee of inspection
(1) A committee of inspection has the following functions:
(a) to advise and assist the external administrator of the
company;
(b) to give directions to the external administrator of the
company;
(c) to monitor the conduct of the external administration of the
company;
(d) such other functions as are conferred on the committee by
this Act;
(e) to do anything incidental or conducive to the performance of
any of the above functions.
(2) An external administrator of a company must have regard to any
directions given to the external administrator by the committee of
inspection, but the external administrator is not required to comply
with such directions.
(3) If an external administrator of a company does not comply with a
direction, the external administrator must make a written record of
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General rules relating to external administrations Part 3
Committees of inspection Division 80
Section 80-40
Corporations Act 2001 357
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
that fact, along with the external administrator’s reasons for not
complying with the direction.
80-40 Committee of inspection may request information etc.
(1) A committee of inspection may request the external administrator
of a company to:
(a) give information; or
(b) provide a report; or
(c) produce a document;
to the committee.
(2) The external administrator must comply with the request unless:
(a) the information, report or document is not relevant to the
external administration of the company; or
(b) the external administrator would breach his or her duties in
relation to the external administration of the company if the
external administrator complied with the request; or
(c) it is otherwise not reasonable for the external administrator to
comply with the request.
(3) The Insolvency Practice Rules may prescribe circumstances in
which it is, or is not, reasonable for an external administrator of a
company to comply with a request of a kind mentioned in
subsection (1).
80-45 Reporting to committee of inspection
(1) The Insolvency Practice Rules may provide for and in relation to
the obligations of external administrators of companies:
(a) to give information; and
(b) to provide reports; and
(c) to produce documents;
to committees of inspection.
(2) Without limiting subsection (1), the Insolvency Practice Rules may
provide for and in relation to:
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Part 3 General rules relating to external administrations
Division 80 Committees of inspection
Section 80-50
358 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(a) other circumstances in which the external administrator of a
company must give information, provide a report or produce
a document to a committee of inspection; and
(b) the manner and form in which information is to be given, a
report provided or a document produced; and
(c) the timeframes in which information is to be given, a report
provided or a document produced; and
(d) who is to bear the cost of giving information, providing a
report or producing a document.
(3) The Insolvency Practice Rules may:
(a) make different provision in relation to different classes of
company or external administration of a company; and
(b) provide that specified requirements imposed under the
Insolvency Practice Rules may be replaced or modified, by
resolution, by:
(i) the creditors; or
(ii) the committee of inspection.
80-50 Committee of inspection may obtain specialist advice or
assistance
(1) A committee of inspection may resolve that a member of the
committee obtain, on behalf of the committee, such advice or
assistance as the committee considers desirable in relation to the
conduct of the external administration.
(2) The committee of inspection must obtain the approval of the
external administrator of the company or the Court before expenses
are incurred in obtaining the advice or assistance.
(3) To avoid doubt, an expense incurred under subsection (2) is to be
taken to be an expense incurred by a person as a member of the
committee, unless the Court orders otherwise.
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General rules relating to external administrations Part 3
Committees of inspection Division 80
Section 80-55
Corporations Act 2001 359
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
80-55 Obligations of members of committee of inspection
Deriving profit or advantage from the company
(1) A member of a committee of inspection must not directly or
indirectly derive any profit or advantage from the external
administration of the company.
Circumstances in which profit or advantage is taken to be derived
(2) To avoid doubt, a member of a committee of inspection is taken to
derive a profit or advantage from the external administration of the
company if:
(a) the member directly or indirectly derives a profit or
advantage from a transaction (including a sale or purchase)
entered into for or on account of the company; or
(b) the member directly or indirectly derives a profit or
advantage from a creditor of the company; or
(c) a related entity of the member directly or indirectly derives a
profit or advantage from the external administration of the
company.
Exceptions
(3) Subsection (1) does not apply if the creditors resolve otherwise.
(4) The member of the committee is not entitled to vote on the
resolution referred to in subsection (3).
(5) Subsection (1) does not apply to the extent that:
(a) another provision of this Act, or of another law, requires or
permits the member of the committee of inspection to derive
the profit or advantage; or
(b) the Court gives leave to the member of the committee to
derive the profit or advantage.
Note: Subsection (1) would not, for example, prevent a creditor from
recovering debts proved in a winding up, as this is permitted under
Part 5.6 of Chapter 5.
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Part 3 General rules relating to external administrations
Division 80 Committees of inspection
Section 80-55
360 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(6) Despite paragraph (2)(c), subsection (1) does not apply to the
extent that:
(a) the profit or advantage arises because the external
administrator employs or engages a person to provide
services in connection with the external administration of the
company; and
(b) the person is a related entity of a member of the committee of
inspection; and
(c) one of the following applies:
(i) the member does not know, and could not reasonably be
expected to know, that the external administrator has
employed or engaged a related entity of the member;
(ii) the creditors, by resolution, agree to the related entity
being employed or engaged.
Offence
(7) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1);
and
(b) the person fails to comply with the requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matters in
subsections (3), (5) and (6) (see subsection 13.3(3) of the Criminal
Code).
Effect of contravention of this section
(8) A transaction or any other arrangement entered into in
contravention of this section may be set aside by the Court.
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General rules relating to external administrations Part 3
Committees of inspection Division 80
Section 80-60
Corporations Act 2001 361
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
80-60 Obligations of creditor appointing a member of committee of
inspection
Application of this section
(1) This section applies if a creditor representing at least 10% in value
of the creditors of a company appoints a person under
section 80-20 as a member of a committee of inspection in relation
to the external administration of the company.
(2) The creditor must not directly or indirectly become the purchaser
of any part of the property of the company.
Exceptions
(3) Subsection (2) does not apply if the creditors resolve otherwise.
(4) The creditor is not entitled to vote on the resolution referred to in
subsection (3).
(5) Subsection (2) does not apply to the extent that:
(a) another provision of this Act, or of another law, requires or
permits the creditor to purchase the property; or
(b) the Court gives leave to the creditor to purchase the property.
Offence
(6) A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (2);
and
(b) the person fails to comply with the requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matters in
subsections (3) and (5) (see subsection 13.3(3) of the Criminal Code).
Effect of contravention of this section
(7) A transaction or any other arrangement entered into in
contravention of this section may be set aside by the Court.
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Part 3 General rules relating to external administrations
Division 80 Committees of inspection
Section 80-65
362 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
80-65 ASIC may attend committee meetings
ASIC is entitled to attend any meeting of a committee of
inspection.
80-70 The Court may inquire into conduct of the committee
The Court may inquire into the conduct of a committee of
inspection and make such orders as it thinks fit to ensure the proper
conduct of the committee.
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General rules relating to external administrations Part 3
Directions by creditors Division 85
Section 85-1
Corporations Act 2001 363
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 85—Directions by creditors
85-1 Simplified outline of this Division
The external administrator of a company must have regard to
directions given to the administrator by the creditors of the
company but is not obliged to comply with those directions.
85-5 External administrator to have regard to directions given by
creditors
(1) The creditors of a company under external administration (other
than a members’ voluntary winding up) may, by resolution, give
directions to the external administrator of the company in relation
to the external administration.
(2) An external administrator of a company must have regard to any
directions mentioned in subsection (1), but the external
administrator is not required to comply with such directions.
(3) If the external administrator does not comply with a direction, the
external administrator must make a written record of that fact,
along with the external administrator’s reasons for not complying
with the direction.
(4) If there is a conflict between directions given by the creditors
under subsection (1) and by the committee of inspection under
section 80-35, directions given by the creditors override any
directions given by the committee.
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Schedule 2 Insolvency Practice Schedule (Corporations)
Part 3 General rules relating to external administrations
Division 90 Review of the external administration of a company
Section 90-1
364 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 90—Review of the external administration of a
company
Subdivision A—Introduction
90-1 Simplified outline of this Division
Review by the Court
The Court may inquire into the external administration of a
company either on its own initiative or on the application of the
company, the external administrator, ASIC or a person with a
financial interest in the external administration of the company
(such as a creditor of the company).
The Court has wide powers to make orders, including orders
replacing the external administrator or dealing with losses resulting
from a breach of duty by the external administrator.
Review by another registered liquidator
ASIC, the Court, creditors or members of a company may appoint
a registered liquidator to review the external administration of the
company. Such a review may look at a range of matters, including
whether the remuneration of the external administrator is
reasonable and whether costs and expenses have been properly
incurred.
The Insolvency Practice Rules may set the powers and duties of a
registered liquidator conducting such a review and may deal with
issues relating to the review process.
If a provisional liquidator has been appointed for the company,
review by another registered liquidator is not available.
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General rules relating to external administrations Part 3
Review of the external administration of a company Division 90
Section 90-5
Corporations Act 2001 365
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Removal of external administrator by creditors
The creditors of a company under external administration (other
than a company for which a provisional liquidator has been
appointed) may remove the external administrator of the company
and appoint another. However, the external administrator may
apply to the Court to be reappointed.
Subdivision B—Court powers to inquire and make orders
90-5 Court may inquire on own initiative
(1) The Court may, on its own initiative during proceedings before the
Court, inquire into the external administration of a company.
(2) The Court may, for the purposes of such an inquiry, require a
person who is or has at any time been the external administrator of
the company to:
(a) give information; or
(b) provide a report; or
(c) produce a document;
to the Court in relation to the external administration of the
company.
(3) This section does not limit the Court’s powers under any other
provision of this Act, or under any other law.
90-10 Court may inquire on application of creditors etc.
(1) The Court may, on the application of a person mentioned in
subsection (2), inquire into the external administration of a
company.
(2) Each of the following persons may make an application for an
inquiry:
(a) a person with a financial interest in the external
administration of the company;
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Part 3 General rules relating to external administrations
Division 90 Review of the external administration of a company
Section 90-15
366 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) an officer of the company;
(c) if the committee of inspection (if any) so resolves—a
creditor, on behalf of the committee;
(d) ASIC.
(3) Paragraph (2)(b) has effect despite section 198G.
Note: Section 198G deals with powers of officers etc. while a company is
under external administration.
(4) The Court may, for the purposes of such an inquiry, require a
person who is or has at any time been the external administrator of
the company to:
(a) give information; or
(b) provide a report; or
(c) produce a document;
to the Court in relation to the external administration of the
company.
(5) If an application is made by a person referred to in
paragraph (2)(c), the reasonable expenses associated with the
application are to be taken to be expenses incurred by a person as a
member of the committee unless otherwise ordered by the Court.
(6) This section does not limit the Court’s powers under any other
provision of this Act, or under any other law.
90-15 Court may make orders in relation to external administration
Court may make orders
(1) The Court may make such orders as it thinks fit in relation to the
external administration of a company.
Orders on own initiative or on application
(2) The Court may exercise the power under subsection (1):
(a) on its own initiative, during proceedings before the Court; or
(b) on application under section 90-20.
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Review of the external administration of a company Division 90
Section 90-15
Corporations Act 2001 367
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Examples of orders that may be made
(3) Without limiting subsection (1), those orders may include any one
or more of the following:
(a) an order determining any question arising in the external
administration of the company;
(b) an order that a person cease to be the external administrator
of the company;
(c) an order that another registered liquidator be appointed as the
external administrator of the company;
(d) an order in relation to the costs of an action (including court
action) taken by the external administrator of the company or
another person in relation to the external administration of
the company;
(e) an order in relation to any loss that the company has
sustained because of a breach of duty by the external
administrator;
(f) an order in relation to remuneration, including an order
requiring a person to repay to a company, or the creditors of
a company, remuneration paid to the person as external
administrator of the company.
Matters that may be taken into account
(4) Without limiting the matters which the Court may take into
account when making orders, the Court may take into account:
(a) whether the liquidator has faithfully performed, or is
faithfully performing, the liquidator’s duties; and
(b) whether an action or failure to act by the liquidator is in
compliance with this Act and the Insolvency Practice Rules;
and
(c) whether an action or failure to act by the liquidator is in
compliance with an order of the Court; and
(d) whether the company or any other person has suffered, or is
likely to suffer, loss or damage because of an action or failure
to act by the liquidator; and
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Part 3 General rules relating to external administrations
Division 90 Review of the external administration of a company
Section 90-20
368 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(e) the seriousness of the consequences of any action or failure
to act by the liquidator, including the effect of that action or
failure to act on public confidence in registered liquidators as
a group.
Costs orders
(5) Without limiting subsection (1), an order mentioned in
paragraph (3)(d) in relation to the costs of an action may include an
order that:
(a) the external administrator or another person is personally
liable for some or all of those costs; and
(b) the external administrator or another person is not entitled to
be reimbursed by the company or its creditors in relation to
some or all of those costs.
Orders to make good loss sustained because of a breach of duty
(6) Without limiting subsection (1), an order mentioned in
paragraph (3)(e) in relation to a loss may include an order that:
(a) the external administrator is personally liable to make good
some or all of the loss; and
(b) the external administrator is not entitled to be reimbursed by
the company or creditors in relation to the amount made
good.
Section does not limit Court’s powers
(7) This section does not limit the Court’s powers under any other
provision of this Act, or under any other law.
90-20 Application for Court order
(1) Each of the following persons may apply for an order under
section 90-15:
(a) a person with a financial interest in the external
administration of the company;
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Review of the external administration of a company Division 90
Section 90-21
Corporations Act 2001 369
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) if the committee of inspection (if any) so resolves—a
creditor, on behalf of the committee;
(c) ASIC;
(d) an officer of the company;
(e) if the application is in relation to a company that is a friendly
society within the meaning of the Life Insurance Act 1995
and which may be wound up voluntarily under
subsection 180(2) of that Act—APRA.
(2) Paragraph (1)(d) has effect despite section 198G.
Note: Section 198G deals with powers of officers etc. while a company is
under external administration.
(3) If an application is made by a person referred to in
paragraph (1)(b), the reasonable expenses associated with the
application are to be taken to be expenses incurred by a person as a
member of the committee.
90-21 Meetings to ascertain wishes of creditors or contributories
(1) The Court may, as to all matters relating to the external
administration of a company, have regard to the wishes of the
creditors or contributories as proved to it by any sufficient
evidence.
(2) The Court may, if it thinks fit for the purpose of ascertaining those
wishes, direct meetings of the creditors or contributories to be
convened, held and conducted in such manner as the Court directs,
and may appoint a person to act as chair of any such meeting and
to report the result of the meeting to the Court.
(3) In the case of creditors, regard is to be had to the value of each
creditor’s debt.
(4) In the case of contributories, regard is to be had to the number of
votes conferred on each contributory by this Act or the company’s
constitution.
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Schedule 2 Insolvency Practice Schedule (Corporations)
Part 3 General rules relating to external administrations
Division 90 Review of the external administration of a company
Section 90-22
370 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Subdivision C—Review by another registered liquidator
90-22 Application of this Subdivision
This Subdivision applies in relation to a company that is under
external administration, other than a company in relation to which
a provisional liquidator has been appointed.
90-23 Appointment of reviewing liquidator by ASIC or the Court
Appointment by ASIC
(1) A registered liquidator may be appointed by ASIC to carry out a
review into a matter that relates to the external administration of
the company, if ASIC considers it appropriate to do so.
(2) ASIC may exercise the power under subsection (1):
(a) on its own initiative; or
(b) on application by a person with a financial interest in the
external administration of the company; or
(c) on the application of an officer of the company.
(3) An application under paragraph (2)(b) or (c) must be lodged with
ASIC in the approved form.
(4) Paragraph (2)(c) has effect despite section 198G.
Note: Section 198G deals with powers of officers etc. while a company
under external administration.
(5) If ASIC appoints a registered liquidator to carry out a review,
ASIC must specify:
(a) the matters in relation to the external administration of the
company which the liquidator is appointed to review; and
(b) the way in which the cost of carrying out the review is to be
determined.
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Insolvency Practice Schedule (Corporations) Schedule 2
General rules relating to external administrations Part 3
Review of the external administration of a company Division 90
Section 90-24
Corporations Act 2001 371
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Appointment by the Court
(6) A registered liquidator may be appointed by the Court to carry out
a review into a matter that relates to the external administration of
the company.
(7) The Court may exercise the power under subsection (6):
(a) on application under subsection (8); and
(b) if the Court considers it appropriate to do so.
(8) Either of the following may make an application under this
subsection:
(a) ASIC;
(b) a person with a financial interest in the external
administration of the company.
(9) If the Court appoints a registered liquidator to carry out a review,
the Court must specify:
(a) the matters in relation to the external administration of the
company which the liquidator is appointed to review; and
(b) the way in which the cost of carrying out the review is to be
determined.
Appointments by ASIC or by the Court—limit
(10) A matter referred to in paragraph (5)(a) or (9)(a) must not relate to
remuneration which an external administrator of the company is
entitled to receive under subsection 60-5(2) (remuneration if no
remuneration determinations made).
90-24 Appointment of reviewing liquidator by creditors etc.
Appointment to carry out review
(1) A registered liquidator may be appointed to carry out a review into
either or both of the following matters:
(a) remuneration of the external administrator of the company;
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Schedule 2 Insolvency Practice Schedule (Corporations)
Part 3 General rules relating to external administrations
Division 90 Review of the external administration of a company
Section 90-24
372 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) a cost or expense incurred by the external administrator of
the company.
Appointment by resolution
(2) The appointment may be made by resolution of:
(a) the creditors; or
(b) if the company is being wound up under a members’
voluntary winding up—the company;
(3) If the appointment is made by resolution, the resolution must
specify:
(a) the remuneration, costs or expenses which the liquidator is
appointed to review; and
(b) the way in which the cost of carrying out the review is to be
determined.
Appointment by one or more creditors or members
(4) The appointment may be made by:
(a) one or more of the creditors; or
(b) if the company is being wound up under a members’
voluntary winding up—one or more of the members.
(5) However, an appointment may only be made under subsection (4)
if the external administrator of the company agrees to the
appointment.
(6) The agreement must:
(a) be in accordance with the Insolvency Practice Rules; and
(b) specify:
(i) the remuneration, costs or expenses which the liquidator
is appointed to review; and
(ii) the way in which the cost of carrying out the review is
to be determined.
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Insolvency Practice Schedule (Corporations) Schedule 2
General rules relating to external administrations Part 3
Review of the external administration of a company Division 90
Section 90-25
Corporations Act 2001 373
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Appointments by creditors etc.—limit
(7) Despite subsection (1), a registered liquidator appointed under this
section has no power to review the remuneration to which the
external administrator of a company is entitled under
subsection 60-5(2) (remuneration if no remuneration
determinations made).
90-25 Reviewing liquidator must consent to appointment
A registered liquidator cannot be appointed under this Subdivision
as a reviewing liquidator in relation to a matter unless:
(a) the liquidator has consented in writing to the appointment;
and
(b) as at the time of the appointment, the liquidator has not
withdrawn the consent.
90-26 Review
Review—general
(1) If a reviewing liquidator is appointed under this Subdivision in
relation to a matter, the reviewing liquidator must carry out a
review into that matter.
Reviews relating to remuneration, costs or expenses
(2) If the matter is, or includes, remuneration of the external
administrator of the company, the review may (but need not)
include an assessment of whether the remuneration is reasonable.
(3) If the matter is, or includes, a cost or expense incurred by the
external administrator of the company, the review must include an
assessment of whether the cost or expense was properly incurred
by the external administrator.
Note: Insolvency Practice Rules made under section 90-29 may provide for
the meaning of properly incurred.
(4) A reviewing liquidator must not review:
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Schedule 2 Insolvency Practice Schedule (Corporations)
Part 3 General rules relating to external administrations
Division 90 Review of the external administration of a company
Section 90-27
374 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(a) remuneration of an external administrator of the company
that relates to a period; or
(b) a cost or expense incurred by the external administrator of
the company incurred during a period;
unless the period is:
(c) for a reviewing liquidator appointed by the Court under
paragraph 90-28(2)(c) or (3)(b)—the period determined by
the Court; or
(d) otherwise—the prescribed period.
Report of review
(5) A reviewing liquidator must prepare a report on the review.
90-27 Who pays for a review?
(1) The cost of carrying out a review under this Subdivision:
(a) in the case of a reviewing liquidator appointed with the
agreement of the external administrator of the company
under subsection 90-24(5)—is to be borne by the creditors or
members referred to in that subsection; or
(b) in any other case—forms part of the expenses of the external
administration of the company.
(2) Subsection (1) has effect subject to an order of the Court under
section 90-28.
90-28 Court orders in relation to review
Application of this section
(1) This section applies if:
(a) a reviewing liquidator has been appointed under this
Subdivision in relation to one or more matters; and
(b) the review has not been completed.
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Insolvency Practice Schedule (Corporations) Schedule 2
General rules relating to external administrations Part 3
Review of the external administration of a company Division 90
Section 90-28
Corporations Act 2001 375
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Court orders on application by the reviewing liquidator
(2) On application by the reviewing liquidator, the Court may make
any or all of the following orders in relation to the review:
(a) requiring the external administrator of the company or any
other person to provide books, information or assistance to
the reviewing liquidator;
(b) requiring the reviewing liquidator to carry out a review of
one or more matters that relate to the external administration
of the company and that are specified in the order instead of,
or in addition to, the matters referred to in paragraph (1)(a);
(c) accepting the resignation of the reviewing liquidator, and
appointing another registered liquidator as reviewing
liquidator for the matter or matters;
(d) any other order that the Court thinks fit.
Court orders on application by a person with a financial interest
(3) On application by a person mentioned in subsection (4), the Court
may make any or all of the following orders in relation to the
review:
(a) requiring the reviewing liquidator to carry out a review of
one or more matters that relate to the external administration
and that are specified in the order instead of, or in addition to,
the matters referred to in paragraph (1)(a) of this section;
(b) removing from office the reviewing liquidator, and
appointing another registered liquidator as reviewing
liquidator for the matter or matters;
(c) any other order that the Court thinks fit.
(4) The persons who may make an application under subsection (3)
are:
(a) a person with a financial interest in the external
administration of the company; or
(b) an officer of the company.
(5) Paragraph (4)(b) has effect despite section 198G.
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Schedule 2 Insolvency Practice Schedule (Corporations)
Part 3 General rules relating to external administrations
Division 90 Review of the external administration of a company
Section 90-29
376 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Note: Section 198G deals with powers of officers etc. while a company is
under external administration.
90-29 Rules about reviews
(1) The Insolvency Practice Rules may provide for and in relation to
reviews under this Subdivision.
(2) Without limiting subsection (1), the Insolvency Practice Rules may
provide for and in relation to any or all of the following matters:
(a) the giving of notice to the external administrator of a
company before appointing, or making an application for the
appointment of, a reviewing liquidator under this
Subdivision;
(b) the meaning, for the purposes of section 90-26, of properly
incurred in relation to costs or expenses incurred by an
external administrator of a company;
(c) the appointment of reviewing liquidators, including
requirements as to who may be appointed and the provision
of declarations of relevant relationships;
(d) the powers and duties of reviewing liquidators in carrying out
a review;
(e) the form and content of reports by reviewing liquidators;
(f) the preparation and provision of reports by reviewing
liquidators.
Subdivision D—Removal by creditors
90-30 Application of this Subdivision
This Subdivision applies in relation to a company that is under
external administration, other than a company in relation to which
a provisional liquidator has been appointed.
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Insolvency Practice Schedule (Corporations) Schedule 2
General rules relating to external administrations Part 3
Review of the external administration of a company Division 90
Section 90-35
Corporations Act 2001 377
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
90-35 Removal by creditors
Creditors may remove external administrator and appoint another
(1) The creditors may:
(a) by resolution at a meeting, remove the external administrator
of a company; and
(b) by resolution at the same or a subsequent meeting, appoint
another person as the external administrator of the company.
Note: For the general rules relating to meetings, see Division 75.
(2) However, the creditors may not do so unless at least 5 business
days’ notice of the meeting is given to all persons who are entitled
to receive notice of creditors’ meetings.
(3) The removal of an external administrator does not take effect until
another person is appointed as external administrator of the
company.
Former administrator may apply to Court to be reappointed
(4) A person (the former administrator) who has been removed as
external administrator of the company by resolution of the
creditors may apply to the Court to be reappointed as external
administrator of the company.
(5) However, if the former administrator makes such an application,
the former administrator must:
(a) record all costs incurred by the former administrator and the
company in relation to the application; and
(b) do so in a way that separates those costs from the costs
incurred by the former administrator and the company in
relation to other matters.
(6) The Court may order that the former administrator be reappointed
as external administrator of the company if the Court is satisfied
that the removal of the former administrator was an improper use
of the powers of one or more creditors.
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Schedule 2 Insolvency Practice Schedule (Corporations)
Part 3 General rules relating to external administrations
Division 90 Review of the external administration of a company
Section 90-35
378 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(7) The Court may make such other orders in relation to the
application as it thinks fit including orders in relation to:
(a) the costs of the application; and
(b) the remuneration of the former administrator.
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Insolvency Practice Schedule (Corporations) Schedule 2
Other matters Part 4
Introduction Division 95
Section 95-1
Corporations Act 2001 379
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 4—Other matters
Division 95—Introduction
95-1 Simplified outline of this Part
This Part deals with a variety of matters:
(a) an external administrator of a company may assign a
right to sue; and
(b) forms are approved by ASIC (provision is made for
what may be required in the form or to accompany the
form); and
(c) the Minister has power to make rules to be called the
Insolvency Practice Rules.
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Schedule 2 Insolvency Practice Schedule (Corporations)
Part 4 Other matters
Division 100 Other matters
Section 100-5
380 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 100—Other matters
100-5 External administrator may assign right to sue under this Act
(1) Subject to subsections (2) and (3), an external administrator of a
company may assign any right to sue that is conferred on the
external administrator by this Act.
(2) If the external administrator’s action has already begun, the
external administrator cannot assign the right to sue unless the
external administrator has the approval of the Court.
(3) Before assigning any right under subsection (1), the external
administrator must give written notice to the creditors of the
proposed assignment.
(4) If a right is assigned under this section, a reference in this Act to
the external administrator in relation to the action is taken to be a
reference to the person to whom the right has been assigned.
100-6 Approved forms
(1) A document that this Schedule requires to be lodged with ASIC in
an approved form must:
(a) be in the form approved by ASIC for the document; and
(b) include the information, statements, explanations or other
matters required by the form; and
(c) be accompanied by any other material required by the form.
(2) A reference in this Schedule to a document that has been lodged
(being a document to which subsection (1) applies), includes a
reference to any other material lodged with the document as
required by the relevant form.
(3) If:
(a) this Schedule requires a document to be lodged with ASIC in
an approved form; and
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Insolvency Practice Schedule (Corporations) Schedule 2
Other matters Part 4
Other matters Division 100
Section 100-6
Corporations Act 2001 381
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(b) a provision of this Schedule specifies information,
statements, explanations or other matters that must be
included in the document, or other material that must
accompany the document;
that other provision is not taken to exclude or limit the operation of
subsection (1) in relation to the approved form (and so the
approved form may also require information etc. to be included in
the form or material to accompany the form).
(4) The Insolvency Practice Rules may provide for and in relation to:
(a) methods of verifying any information required by or in
approved forms; and
(b) the manner in which, the persons by whom, and the
directions or requirements in accordance with which,
approved forms are required or permitted to be signed,
prepared, or completed.
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Schedule 2 Insolvency Practice Schedule (Corporations)
Part 4 Other matters
Division 105 The Insolvency Practice Rules
Section 105-1
382 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Division 105—The Insolvency Practice Rules
105-1 The Insolvency Practice Rules
(1) The Minister may, by legislative instrument, make rules providing
for matters:
(a) required or permitted by this Schedule to be provided by the
rules; or
(b) necessary or convenient to be provided in order to carry out
or give effect to this Schedule.
(2) Rules made under subsection (1) may include offences.
(3) The penalties for offences described in subsection (2) must not be
more than 50 penalty units for an individual or 250 penalty units
for a body corporate.
(4) To avoid doubt, the rules may not do the following:
(a) create a civil penalty;
(b) provide powers of:
(i) arrest or detention; or
(ii) entry, search or seizure;
(c) impose a tax;
(d) set an amount to be appropriated from the Consolidated
Revenue Fund under an appropriation in this Act;
(e) directly amend the text of this Act.
(5) Rules that are inconsistent with the regulations have no effect to
the extent of the inconsistency, but rules are taken to be consistent
with the regulations to the extent that the rules are capable of
operating concurrently with the regulations.
(6) Despite subsection 1345A(1), the Minister’s power to make rules
under this section may not be delegated to any other person.
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Penalties Schedule 3
Corporations Act 2001 383
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Schedule 3—Penalties Note: See section 1311.
Penalties
Item Provision Penalty
1 Section 111AU 200 penalty units or imprisonment for 5 years,
or both.
2 Subsection 113(1) 50 penalty units or imprisonment for 1 year, or
both.
3 Subsection 113(3) 5 penalty units.
4 Section 115 5 penalty units.
5 Subsection 117(5) 10 penalty units, or imprisonment for 3
months, or both.
6 Subsection 123(3) 10 penalty units, or imprisonment for 3
months, or both.
7 Subsection 136(5) 5 penalty units.
8 Subsection 139(1) 5 penalty units.
9 Subsections 142(1) and
(2)
60 penalty units.
10 Subsection 143(1) 5 penalty units.
11 Section 144 10 penalty units or imprisonment for 3
months, or both.
12 Subsections 145(1) and
(3)
60 penalty units.
13 Subsection 146(1) 60 penalty units.
14 Subsections 148(2), (3)
and (4)
10 penalty units or imprisonment for 3
months, or both.
15 Subsection 150(2) 5 penalty units.
16 Subsection 151(2) 5 penalty units.
17 Subsections 153(1) and
(2)
10 penalty units or imprisonment for 3
months, or both.
18 Subsection 156(1) 10 penalty units or imprisonment for 3
months, or both.
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Schedule 3 Penalties
384 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Penalties
Item Provision Penalty
19 Subsection 157(2) 5 penalty units.
20 Subsection 158(2) 50 penalty units or imprisonment for 1 year, or
both.
20A Subsection 161A(2) or
(3)
10 penalty units or imprisonment for 3
months, or both.
21 Subsection 162(3) 5 penalty units.
22 Subsection 163(5) 10 penalty units or imprisonment for 3
months, or both.
23 Subsection 165(2) 50 penalty units or imprisonment for 1 year, or
both.
24 Section 168 10 penalty units or imprisonment for 3
months, or both.
25 Subsection 170(3) 10 penalty units or imprisonment for 3
months, or both.
26 Section 172 10 penalty units or imprisonment for 3
months, or both.
27 Section 173 10 penalty units or imprisonment for 3
months, or both.
28 Subsection 174(1) 10 penalty units or imprisonment for 3
months, or both.
29 Subsection 177(1) 50 penalty units.
29AA Subsection 177(1AA) 50 penalty units.
29A Subsection 178A(1) 60 penalty units.
29B Subsection 178C(1) 60 penalty units.
30 Section 184 2,000 penalty units or imprisonment for 5
years, or both.
32 Subsection 191(1) 10 penalty units or imprisonment for 3
months, or both.
33 Subsection 195(1) 5 penalty units.
34 Subsection 199B(1) 5 penalty units.
35 Subsection 200B(1) 180 penalty units or imprisonment for 6
months, or both.
36 Subsection 200C(1) 180 penalty units or imprisonment for 6
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Corporations Act 2001 385
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Penalties
Item Provision Penalty
months, or both.
37 Section 200D 180 penalty units or imprisonment for 6
months, or both.
38 Subsection 201D(1) 10 penalty units or imprisonment for 3
months, or both.
39 Subsection 201D(2) 5 penalty units.
39A Subsections 201R(2) and
(3)
5 penalty units.
40 Subsection 202B(1) 5 penalty units.
41 Subsections 203D(3) and
(5)
5 penalty units.
42 Section 204A 5 penalty units.
43 Subsections 204C(1) and
(2)
5 penalty units.
44 Subsections 205B(1),
(2), (4) and (5)
60 penalty units or imprisonment for 1 year, or
both.
45 Subsections 205C(1) and
(2)
10 penalty units or imprisonment for 3
months, or both.
46 Subsection 205E(2) 10 penalty units or imprisonment for 3
months, or both.
47 Subsection 205F(1) 10 penalty units or imprisonment for 3
months, or both.
48 Subsections 205G(1), (3)
and (4)
10 penalty units or imprisonment for 3
months, or both.
49 Subsection 206A(1) 50 penalty units or imprisonment for 1 year, or
both.
49A Subsections 206J(4), (6)
and (7)
60 penalty units.
49B Subsection 206K(4) 60 penalty units.
49C Subsections 206L(3) and
(4)
60 penalty units.
49D Subsection 206M(2) 60 penalty units.
50 Subsection 209(3) 2000 penalty units, or imprisonment for 5
years, or both.
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Schedule 3 Penalties
386 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Penalties
Item Provision Penalty
51 Section 224 200 penalty units or imprisonment for 5 years,
or both.
52 Section 225 5 penalty units.
53 Section 235 50 penalty units or imprisonment for 1 year, or
both.
54 Section 237 25 penalty units or imprisonment for 6
months, or both.
55 Section 242 10 penalty units or imprisonment for 3
months, or both.
56 Subsection 242AA(3) 5 penalty units.
58 Subsection 246B(3) 5 penalty units.
59 Subsection 246D(6) 5 penalty units.
60 Subsections 246F(1) and
(3)
5 penalty units.
61 Subsection 246G(1) 5 penalty units.
62 Section 247C 5 penalty units.
63 Subsections 249E(3) and
(4)
5 penalty units.
64 Section 249K 5 penalty units.
65 Section 249Z 5 penalty units.
65A Subsection 249L(1) or
(2)
5 penalty units.
66 Subsections 250BB(2),
(3) and (4)
5 penalty units.
66A Subsection 250BD(1) 200 penalty units or imprisonment for 5 years,
or both.
67 Subsections 250N(1) and
(2)
10 penalty units or imprisonment for 3
months, or both.
68 Subsections 250P(3) and
(4)
10 penalty units or imprisonment for 3
months, or both.
68A Subsections 250PA(3),
(4), (6) and (9)
5 penalty units.
68AA Subsection 250R(2) 5 penalty units.
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Penalties Schedule 3
Corporations Act 2001 387
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Penalties
Item Provision Penalty
68AB Subsection 250R(7) 200 penalty units or imprisonment for 5 years,
or both.
68B Subsections 250RA(1)
and (3)
10 penalty units.
69 Section 250S 5 penalty units.
69A Section 250SA 5 penalty units.
70 Subsections 250T(1) and
(4)
5 penalty units.
70A Subsection 250W(5) 10 penalty units.
71 Subsections 251A(1) to
(5)
10 penalty units or imprisonment for 3
months, or both.
72 Subsections 251B(1), (3)
and (4)
5 penalty units.
73 Subsections 252C(3) and
(4)
5 penalty units.
74 Section 252H 5 penalty units.
75 Section 252X 5 penalty units.
76 Subsection 252Y(5) 5 penalty units.
77 Subsections 253M(1),
(2) and (3)
10 penalty units or imprisonment for 3
months, or both.
78 Subsections 253N(1), (3)
and (4)
5 penalty units.
79 Subsection 254H(4) 5 penalty units.
80 Subsection 254L(3) 2,000 penalty units, or imprisonment for 5
years, or both.
81 Subsection 254N(2) 5 penalty units.
82 Subsection 254Q(13) 5 penalty units.
82A Section 254SA 100 penalty units or imprisonment for 2 years,
or both.
83 Section 254T 100 penalty units or imprisonment for 2 years,
or both.
84 Subsections 254X(1) and
(2)
60 penalty units.
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Schedule 3 Penalties
388 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Penalties
Item Provision Penalty
85 Section 254Y 5 penalty units.
86 Subsection 256D(4) 2,000 penalty units, or imprisonment for 5
years, or both.
87 Subsection 259B(6) 5 penalty units.
88 Subsection 259D(4) 5 penalty units.
89 Subsection 259F(3) 2,000 penalty units, or imprisonment for 5
years, or both.
90 Subsection 260D(3) 2,000 penalty units, or imprisonment for 5
years, or both.
91 Subsection 283AA(1) 25 penalty units or imprisonment for 6
months, or both.
92 Subsection 283AA(3) 25 penalty units or imprisonment for 6
months, or both.
93 Section 283AB 25 penalty units or imprisonment for 6
months, or both.
94 Subsection 283AC(1) 25 penalty units or imprisonment for 6
months, or both.
95 Subsection 283AC(2) 25 penalty units or imprisonment for 6
months, or both.
96 Subsection 283BH(1) 200 penalty units or imprisonment for 5 years,
or both.
97 Section 283BI 25 penalty units or imprisonment for 6
months, or both.
98 Section 283CE 25 penalty units or imprisonment for 6
months, or both.
99 Subsections 286(1) and
(2)
25 penalty units or imprisonment for 6
months, or both.
100 Section 287 25 penalty units or imprisonment for 6
months, or both.
101 Section 288 25 penalty units or imprisonment for 6
months, or both.
102 Subsection 289(2) 25 penalty units or imprisonment for 6
months, or both.
103 Section 294 10 penalty units or imprisonment for 3
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Corporations Act 2001 389
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Penalties
Item Provision Penalty
months, or both.
103AA Section 294B 10 penalty units or imprisonment for 3
months, or both.
103A Subsections 307C(1) and
(2)
10 penalty units.
103B Subsections 307A(1) and
(2)
50 penalty units.
103C Subsection 307B(1) 50 penalty units.
103D Subsection 307B(3) 50 penalty units.
104 Subsections 308(1), (2),
(3), (3AA), (3AB), (3A),
(3C) and (4)
50 penalty units.
104A Subsections 309(1), (2),
(3), (4), (5), (5A) and (6)
50 penalty units.
105 Subsection 311(1), (2) or
(3)
50 penalty units or imprisonment for 1 year, or
both.
106 Subsection 312(1) 25 penalty units or imprisonment for 6
months, or both.
107 Section 313 10 penalty units or imprisonment for 3
months, or both.
108 Subsection 314(1) or
(1AB)
10 penalty units or imprisonment for 3
months, or both.
109 Section 316 10 penalty units or imprisonment for 3
months, or both.
109A Subsections 316A(3) and
(4)
10 penalty units or imprisonment for 3
months, or both.
110 Subsection 317(1) 10 penalty units or imprisonment for 3
months, or both.
111 Subsections 318(1), (3)
and (4)
25 penalty units or imprisonment for 6
months, or both.
112 Subsection 319(1) 60 penalty units or imprisonment for 1 year, or
both.
112A Section 320 60 penalty units or imprisonment for 1 year, or
both.
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Penalties
Item Provision Penalty
112B Section 321 10 penalty units or imprisonment for 3
months, or both
113 Section 322 10 penalty units or imprisonment for 3
months, or both.
114 Subsection 323(1) 25 penalty units or imprisonment for 6
months, or both.
115 Subsection 323B(1) 25 penalty units or imprisonment for 6
months, or both.
116 Subsection 323D(3) 10 penalty units or imprisonment for 3
months, or both.
116BA Section 324BA 25 penalty units or imprisonment for 6
months, or both.
116BB Subsection 324BB(1) 25 penalty units or imprisonment for 6
months, or both.
116BC Subsection 324BB(2) 10 penalty units.
116BD Subsections 324BC(1)
and (2)
25 penalty units or imprisonment for 6
months, or both.
116BE Subsection 324BC(3) 10 penalty units.
116CA Subsection 324CA(1) 25 penalty units or imprisonment for 6
months, or both.
116CB Subsections 324CA(1A)
and (2)
10 penalty units.
116CC Subsection 324CB(1) 25 penalty units or imprisonment for 6
months, or both.
116CD Subsections 324CB(1A),
(2) and (4)
10 penalty units.
116CE Subsection 324CC(1) 25 penalty units or imprisonment for 6
months, or both.
116CF Subsections 324CC(1A),
(2) and (4)
10 penalty units.
116DA Subsection 324CE(1) 25 penalty units or imprisonment for 6
months, or both.
116DB Subsections 324CE(1A)
and (2)
10 penalty units.
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Penalties
Item Provision Penalty
116EA Subsection 324CF(1) 25 penalty units or imprisonment for 6
months, or both.
116EB Subsections 324CF(1A)
and (2)
10 penalty units.
116FA Subsection 324CG(1) 25 penalty units or imprisonment for 6
months, or both.
116FB Subsections 324CG(1A)
and (2)
10 penalty units.
116FC Subsection 324CG(5) 25 penalty units or imprisonment for 6
months, or both.
116FD Subsections 324CG(5A)
and (6)
10 penalty units.
116GA Section 324CI 25 penalty units or imprisonment for 6
months, or both.
116GB Section 324CJ 25 penalty units or imprisonment for 6
months, or both.
116GC Section 324CK 25 penalty units or imprisonment for 6
months, or both.
116H Subsections 324CM(1),
(2) and (3)
25 penalty units or imprisonment for 6
months, or both.
116I Section 324DB 25 penalty units or imprisonment for 6
months, or both.
116JA Subsection 324DC(1) 25 penalty units or imprisonment for 6
months, or both.
116JB Subsection 324DC(2) 10 penalty units.
116KA Subsections 324DD(1)
and (2)
25 penalty units or imprisonment for 6
months, or both.
116KB Subsection 324DD(3) 10 penalty units.
116LA Subsection 327A(3) 25 penalty units or imprisonment for 6
months, or both.
116LB Subsections 327B(1) and
(3)
25 penalty units or imprisonment for 6
months, or both.
116LC Subsection 327C(3) 25 penalty units or imprisonment for 6
months, or both.
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Penalties
Item Provision Penalty
116MA Subsection 328A(4) 25 penalty units or imprisonment for 6
months, or both.
116MB Subsection 328B(2) 25 penalty units or imprisonment for 6
months, or both.
116NA Subsections 331AAA(1)
and (3)
25 penalty units or imprisonment for 6
months, or both.
116NB Subsections 331AAB(1)
and (2)
25 penalty units or imprisonment for 6
months, or both.
116NC Subsection 332A(2) 10 penalty units.
116ND Subsection 332A(3) 10 penalty units.
116O Subsection 342B(1) 5 penalty units.
117 Subsection 344(2) 2,000 penalty units, or imprisonment for 5
years, or both.
118 Subsections 346C(1) and
(2)
60 penalty units.
119 Section 347A 10 penalty units.
119A Section 347B 10 penalty units.
119B Subsection 348D(1) 60 penalty units.
119C Subsection 349A(1) 60 penalty units.
120 Section 428 10 penalty units or imprisonment for 3
months, or both.
120A Paragraph 429(2)(b) 50 penalty units.
122 Subsection 437D(5) 25 penalty units or imprisonment for 6
months, or both.
123 Subsection 438B(4) (a) if the offence relates to a provision other
than subsection 438B(2A)—50 penalty
units or imprisonment for 1 year, or both;
or
(b) if the offence relates to
subsection 438B(2A)—5 penalty units.
124 Subsection 438C(5) 50 penalty units or imprisonment for 1 year, or
both.
124A Subsection 446C(4) 25 penalty units or imprisonment for 6
months, or both.
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Penalties
Item Provision Penalty
125 Subsection 448B(1) 25 penalty units or imprisonment for 6
months, or both.
126 Section 448C 25 penalty units or imprisonment for 6
months, or both.
128 Section 450E 10 penalty units.
130 Subsection 475(9) (a) if the offence relates to a provision other
than subsection 475(4)—25 penalty units
or imprisonment for 6 months, or both; or
(b) if the offence relates to
subsection 475(4)—50 penalty units.
131 Subsection 486A(8) 100 penalty units or imprisonment for 2 years,
or both.
132 Section 494 50 penalty units or imprisonment for 1 year, or
both.
133 Subsection 497(1) 10 penalty units or imprisonment for 3
months, or both.
133A Subsection 497(4) 50 penalty units.
133B Subsection 497(7) 5 penalty units.
134 Subsection 530A(6) 50 penalty units or imprisonment for 1 year, or
both.
135 Subsections 530B(3) and
(6)
50 penalty units or imprisonment for 1 year, or
both.
136 Section 532 10 penalty units or imprisonment for 3
months, or both.
137 Subsection 541(1) 10 penalty units or imprisonment for 3
months, or both.
138 Subsection 588G(3) 2,000 penalty units, or imprisonment for 5
years, or both.
139 Subsection 590(1) 100 penalty units or imprisonment for 2 years,
or both.
140 Subsection 590(5) 50 penalty units or imprisonment for 1 year, or
both.
141 Subsection 592(1) 50 penalty units or imprisonment for 1 year, or
both.
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Penalties
Item Provision Penalty
142 Subsection 592(6) 100 penalty units or imprisonment for 2 years,
or both.
143 Subsection 595(1) 50 penalty units or imprisonment for 3
months, or both.
144 Subsection 596(1) 100 penalty units or imprisonment for 2 years,
or both.
145 Subsection 596AB(1) 1,000 penalty units or imprisonment for 10
years, or both.
146 Subsection 596F(3) 100 penalty units or imprisonment for 2 years,
or both.
147 Section 597 100 penalty units or imprisonment for 2 years,
or both.
148 Subsections 597(6), (7),
(10A) and (13)
100 penalty units or imprisonment for 2 years,
or both.
149 Subsection 597A(3) 100 penalty units or imprisonment for 2 years,
or both.
150 Subsection 601AD(5) 5 penalty units.
151 Subsection 601BC(5) 10 penalty units or imprisonment for 3
months, or both.
152 Subsections 601BH(1)
and (2)
5 penalty units.
153 Subsection 601BJ(3) 5 penalty units.
154 Subsection 601BK(1) 5 penalty units.
155 Subsection 601BP(1) 5 penalty units.
156 Subsection 601BR(1) 5 penalty units.
157 Section 601CW 10 penalty units or imprisonment for 3
months, or both.
158 Subsection 601CZB(1) 10 penalty units or imprisonment for 3
months, or both.
159 Section 601CZC 10 penalty units or imprisonment for 3
months, or both.
160 Subsection 601DD(1) 5 penalty units.
161 Subsection 601DE(1) 10 penalty units or imprisonment for 3
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Penalties
Item Provision Penalty
months, or both.
162 Subsection 601DH(1) 5 penalty units.
163 Subsection 601ED(5) 200 penalty units or imprisonment for 5 years,
or both.
163B Subsection 601FD(4) 2,000 penalty units or imprisonment for 5
years, or both.
163C Subsection 601FE(4) 2,000 penalty units or imprisonment for 5
years, or both.
164 Subsection 601FF(3) 200 penalty units or imprisonment for 5 years,
or both.
164A Subsection 601FG(3) 2,000 penalty units or imprisonment for 5
years, or both.
164B Subsection 601JD(4) 2,000 penalty units or imprisonment for 5
years, or both.
165 Subsection 601FL(4) 100 penalty units or imprisonment for 2 years,
or both.
166 Subsection 601FM(3) 100 penalty units or imprisonment for 2 years,
or both.
167 Subsection 601FQ(6) 100 penalty units or imprisonment for 2 years,
or both.
168 Subsection 601HD(1) 25 penalty units or imprisonment for 6
months, or both.
168A Subsection 601HG(4),
(4A) or (4B)
50 penalty units or imprisonment for 1 year, or
both.
169 Subsection 601HG(6) 25 penalty units or imprisonment for 6
months, or both.
170 Subsection 601JA(3) 100 penalty units or imprisonment for 2 years,
or both.
171 Subsection 601JA(4) 25 penalty units or imprisonment for 6
months, or both.
172 Subsection 601JB(5) 25 penalty units or imprisonment for 6
months, or both.
173 Subsection 601KA(3) 25 penalty units or imprisonment for 6
months, or both.
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Penalties
Item Provision Penalty
173A Subsection 601SBB(1) 50 penalty units.
173B Subsection 601SBC(2) 50 penalty units.
173C Subsection 601SCB(1) 50 penalty units.
173D Subsection 601SCB(2) 50 penalty units.
173E Subsection 601SCB(3) 60 penalty units or imprisonment for 12
months, or both.
173EA Subsection 601SCD(1) 2,000 penalty units or imprisonment for 5
years, or both.
173F Section 601TAA 60 penalty units or imprisonment for 12
months, or both.
173G Subsection 601TAB(1) 60 penalty units or imprisonment for 12
months, or both.
173H Subsection 601TBA(2) 60 penalty units or imprisonment for 12
months, or both.
173J Subsection 601UAA(1) 300 penalty units or imprisonment for 5 years,
or both.
173K Subsection 601UAB(1) 300 penalty units or imprisonment for 5 years,
or both.
173L Section 601VAB 120 penalty units or imprisonment for 2 years,
or both.
173M Subsection 601VBD(8) 60 penalty units or imprisonment for 12
months, or both.
173N Subsection 601VCC(2) 120 penalty units or imprisonment for 2 years,
or both.
173P Subsection 601WBE(5) 50 penalty units.
173Q Section 601WCF 60 penalty units, or imprisonment for 12
months, or both.
173R Section 601WCG 60 penalty units, or imprisonment for 12
months, or both.
173S subsection 601WDA(1) 120 penalty units or imprisonment for 2 years,
or both.
173T subsection 601WDA(2) 120 penalty units or imprisonment for 2 years,
or both.
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Penalties
Item Provision Penalty
173U Subsection 601WDA(3) 120 penalty units or imprisonment for 2 years,
or both.
173V Section 601XAB 50 penalty units or imprisonment for 12
months, or both.
174 Subsection 606(1) 25 penalty units or imprisonment for 6
months, or both.
175 Subsection 606(2) 25 penalty units or imprisonment for 6
months, or both.
176 Subsection 606(4) 25 penalty units or imprisonment for 6
months, or both.
177 Paragraphs 614(1)(a),
(b), (c) and (d)
100 penalty units or imprisonment for 2 years,
or both.
178 Subsection 622(1) 25 penalty units or imprisonment for 6
months, or both.
179 Subsection 623(1) 25 penalty units or imprisonment for 6
months, or both.
180 Subsection 624(2) 25 penalty units or imprisonment for 6
months, or both.
181 Subsections 630(2), (3)
and (4)
25 penalty units or imprisonment for 6
months, or both.
182 Subsection 631(1) 100 penalty units or imprisonment for 2 years,
or both.
183 Subsection 631(2) 200 penalty units or imprisonment for 5 years,
or both.
184 Subsection 633(1)
(items 4, 5, 7, 8, 9, 11,
12, 13, 14)
25 penalty units or imprisonment for 6
months, or both.
185 Subsection 635(1)
(items 5, 7, 8, 10, 11, 12,
13, 14)
25 penalty units or imprisonment for 6
months, or both.
186 Subsection 636(3) 25 penalty units or imprisonment for 6
months, or both.
187 Subsection 636(4) 10 penalty units.
188 Subsection 637(1) 25 penalty units or imprisonment for 6
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Penalties
Item Provision Penalty
months, or both.
189 Subsection 638(1) 25 penalty units or imprisonment for 6
months, or both.
190 Subsection 638(3) 25 penalty units or imprisonment for 6
months, or both.
191 Subsection 638(5) 25 penalty units or imprisonment for 6
months, or both.
192 Subsection 638(6) 10 penalty units.
193 Subsection 639(1) 25 penalty units or imprisonment for 6
months, or both.
194 Subsection 640(1) 25 penalty units or imprisonment for 6
months, or both.
195 Subsection 641(1) 25 penalty units or imprisonment for 6
months, or both.
196 Section 643 25 penalty units or imprisonment for 6
months, or both.
197 Section 644 25 penalty units or imprisonment for 6
months, or both.
198 Subsections 647(1), (2)
and (3)
25 penalty units or imprisonment for 6
months, or both.
199 Subsection 648A(1) 25 penalty units or imprisonment for 6
months, or both.
200 Subsections 648E(1) and
(2)
25 penalty units or imprisonment for 6
months, or both.
201 Section 648G 50 penalty units or imprisonment for 1 year, or
both.
202 Subsection 649C(2) 25 penalty units or imprisonment for 6
months, or both.
203 Subsection 650B(3) 25 penalty units or imprisonment for 6
months, or both.
204 Subsections 650E(5) and
(6)
25 penalty units or imprisonment for 6
months, or both.
205 Subsection 650F(3) 25 penalty units or imprisonment for 6
months, or both.
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Penalties
Item Provision Penalty
206 Subsection 651A(4) 25 penalty units or imprisonment for 6
months, or both.
207 Section 651C 25 penalty units or imprisonment for 6
months, or both.
208 Subsection 652C(3) 25 penalty units or imprisonment for 6
months, or both.
209 Subsection 654A(1) 25 penalty units or imprisonment for 6
months, or both.
210 Subsection 654C(1) 25 penalty units or imprisonment for 6
months, or both.
211 Subsection 654C(3) 25 penalty units or imprisonment for 6
months, or both.
212 Subsection 657F(1) 25 penalty units or imprisonment for 6
months, or both.
213 Subsection 661D(1) 25 penalty units or imprisonment for 6
months, or both.
214 Subsection 662A(1) 25 penalty units or imprisonment for 6
months, or both.
215 Subsection 663A(1) 25 penalty units or imprisonment for 6
months, or both.
216 Subsections 664D(1), (2)
and (3)
25 penalty units or imprisonment for 6
months, or both.
217 Subsections 664E(2), (3)
and (4)
25 penalty units or imprisonment for 6
months, or both.
218 Subsection 665A(2) 25 penalty units or imprisonment for 6
months, or both.
221 Subsection 666A(1) 25 penalty units or imprisonment for 6
months, or both.
222 Subsections 666B(2) and
(3)
25 penalty units or imprisonment for 6
months, or both.
223 Subsection 667A(3) 25 penalty units or imprisonment for 6
months, or both.
224 Subsections 668A(1), (3)
and (4)
25 penalty units or imprisonment for 6
months, or both.
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Penalties
Item Provision Penalty
225 Subsection 668B(1) 25 penalty units or imprisonment for 6
months, or both.
226 Subsection 670A(3) 50 penalty units or imprisonment for 1 year, or
both.
227 Subsections 670C(1), (2)
and (3)
25 penalty units or imprisonment for 6
months, or both.
228 Subsection 671B(1) 25 penalty units or imprisonment for 6
months, or both.
229 Subsection 672B(1) 25 penalty units or imprisonment for 6
months, or both.
229AA Subsections 672DA(1),
(2), (3), (4), (6), (7), (8)
and (9)
10 penalty units.
229A Subsection 674(2) 200 penalty units or imprisonment for 5 years,
or both.
229B Subsection 674(5) 100 penalty units or imprisonment for 2 years,
or both.
229C Subsection 675(2) 200 penalty units or imprisonment for 5 years,
or both.
229CA Subsection 708AA(10) 25 penalty units or imprisonment for 6
months, or both.
229D Subsection 708A(9) 25 penalty units or imprisonment for 6
months, or both.
230 Subsection 721(5) 200 penalty units or imprisonment for 5 years,
or both.
232 Subsection 722(1) 25 penalty units or imprisonment for 6
months, or both.
233 Subsection 724(1) 25 penalty units or imprisonment for 6
months, or both.
234 Subsection 725(1) 25 penalty units or imprisonment for 6
months, or both.
235 Section 726 200 penalty units or imprisonment for 5 years,
or both.
236 Subsection 727(1) 200 penalty units or imprisonment for 5 years,
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Penalties
Item Provision Penalty
or both.
237 Subsection 727(2) 200 penalty units or imprisonment for 5 years,
or both.
238 Subsection 727(3) 200 penalty units or imprisonment for 5 years,
or both.
239 Subsection 727(4) 200 penalty units or imprisonment for 5 years,
or both.
240 Subsection 728(3) 200 penalty units or imprisonment for 5 years,
or both.
241 Subsection 730(1) 50 penalty units or imprisonment for 1 year, or
both.
242 Subsection 734(1) 25 penalty units or imprisonment for 6
months, or both.
243 Subsection 734(2) 25 penalty units or imprisonment for 6
months, or both.
244 Subsection 735(1) 10 penalty units or imprisonment for 3
months, or both.
245 Subsection 736(1) 25 penalty units or imprisonment for 6
months, or both.
246A Subsection 791A(1) 500 penalty units or imprisonment for 5 years,
or both.
246B Subsection 791B(1) 500 penalty units or imprisonment for 5 years,
or both.
246C Subsection 792B(1) 100 penalty units or imprisonment for 2 years,
or both.
247A Subsection 792B(2) 100 penalty units or imprisonment for 2 years,
or both.
247B Subsection 792B(3) 100 penalty units or imprisonment for 2 years,
or both.
247C Subsection 792B(4) 100 penalty units or imprisonment for 2 years,
or both.
248A Subsection 792B(5) 100 penalty units or imprisonment for 2 years,
or both.
248B Subsection 792C(1) 100 penalty units or imprisonment for 2 years,
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Penalties
Item Provision Penalty
or both.
248C Subsection 792D(1) 25 penalty units or imprisonment for 6
months, or both.
249A Section 792E 100 penalty units or imprisonment for 2 years,
or both.
249B Subsection 792F(1) 100 penalty units or imprisonment for 2 years,
or both.
249C Subsection 792F(2) 50 penalty units.
250A Subsection 792F(3) 100 penalty units or imprisonment for 2 years,
or both.
250B Subsection 792G(1) 100 penalty units or imprisonment for 2 years,
or both.
250C Subsection 792G(2) 100 penalty units or imprisonment for 2 years,
or both.
250D Section 792I 50 penalty units.
251A Subsection 793D(3) 100 penalty units or imprisonment for 2 years,
or both.
251B Subsection 794B(3) 100 penalty units or imprisonment for 2 years,
or both.
251C Subsection 794D(3) 100 penalty units for each day, or part of a
day, in respect of which the offence is
committed.
252A Subsection 794E(2) 100 penalty units for each day, or part of a
day, in respect of which the offence is
committed.
252B Subsection 798C(3) 100 penalty units or imprisonment for 2 years,
or both.
252C Subsection 798C(6) 100 penalty units or imprisonment for 2 years,
or both.
253A Subsection 798D(4) 100 penalty units or imprisonment for 2 years,
or both.
253AA Subsection 798DA(4) 100 penalty units or imprisonment for 2 years,
or both.
253B Subsection 820A(1) 500 penalty units or imprisonment for 5 years,
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Penalties
Item Provision Penalty
or both.
253C Subsection 820B(1) 500 penalty units or imprisonment for 5 years,
or both.
254A Subsection 821B(1) 100 penalty units or imprisonment for 2 years,
or both.
254B Subsection 821B(2) 100 penalty units or imprisonment for 2 years,
or both.
254C Subsection 821B(3) 100 penalty units or imprisonment for 2 years,
or both.
255A Subsection 821B(4) 100 penalty units or imprisonment for 2 years,
or both.
255AA Subsection 821BA(1) 100 penalty units or imprisonment for 2 years,
or both.
255B Subsection 821C(1) 25 penalty units or imprisonment for 6
months, or both.
255BA Subsection 821C(3) 25 penalty units or imprisonment for 6
months, or both.
255C Section 821D 25 penalty units or imprisonment for 6
months, or both.
256A Subsection 821E(1) 100 penalty units or imprisonment for 2 years,
or both.
256B Subsection 821E(2) 50 penalty units.
256C Subsection 821E(3) 100 penalty units or imprisonment for 2 years,
or both.
257A Subsection 822D(3) 100 penalty units or imprisonment for 2 years,
or both.
257B Subsection 823B(3) 100 penalty units or imprisonment for 2 years,
or both.
257C Subsection 823D(5) 100 penalty units for each day, or part of a
day, in respect of which the offence is
committed.
257D Subsection 823E(3) 100 penalty units for each day, or part of a
day, in respect of which the offence is
committed.
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Penalties
Item Provision Penalty
258A Section 850C 400 penalty units or imprisonment for 4 years,
or both.
258B Subsection 851D(8) 100 penalty units or imprisonment for 2 years,
or both.
258C Subsection 852B(2) 400 penalty units or imprisonment for 4 years,
or both.
259A Subsection 853F(1) 500 penalty units or imprisonment for 5 years,
or both.
259B Subsection 853F(2) 500 penalty units or imprisonment for 5 years,
or both.
259C Subsection 854A(5) 100 penalty units or imprisonment for 2 years,
or both.
260A Subsection 892B(1) 200 penalty units or imprisonment for 5 years,
or both.
260B Subsection 892B(4) 200 penalty units or imprisonment for 5 years,
or both.
260C Subsection 892H(1) 200 penalty units or imprisonment for 5 years,
or both.
261A Subsection 892H(2) 200 penalty units or imprisonment for 5 years,
or both.
261B Subsection 892H(3) 200 penalty units or imprisonment for 5 years,
or both.
261C Subsection 892H(6) 50 penalty units or imprisonment for 1 year, or
both.
262A Subsection 892H(7) 50 penalty units or imprisonment for 1 year, or
both.
262B Subsection 892K(2) 100 penalty units or imprisonment for 2 years,
or both.
262BA subsection 904B(1) or
(5)
1,000 penalty units.
262BB subsection 904C(1) or
(3)
100 penalty units.
262BC subsection 904D(2) 100 penalty units.
262BD section 904E 100 penalty units.
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Penalties
Item Provision Penalty
262BE subsection 904G(5) 100 penalty units for each day, or part of a
day, in respect of which the offence is
committed.
262BF subsection 904H(3) 100 penalty units.
262BG subsection 904K(4) 100 penalty units for each day, or part of a
day, in respect of which the offence is
committed.
262BH subsection 905A(2) 500 penalty units.
262BI section 907A 500 penalty units.
262C Subsection 911A(1) 200 penalty units or imprisonment for 2 years,
or both.
263A Subsection 911B(1) 200 penalty units or imprisonment for 2 years,
or both.
263B Section 911C 50 penalty units or imprisonment for 1 year, or
both.
263C Subsection 912C(3) 25 penalty units or imprisonment for 6
months, or both.
264A Subsection 912D(1B) 50 penalty units or imprisonment for 1 year, or
both.
264B Subsection 912D(2) 50 penalty units or imprisonment for 1 year, or
both.
264C Subsection 912E(1) 25 penalty units or imprisonment for 6
months, or both.
265A Subsection 912F(1) 10 penalty units.
265AA Subsection 916A(3A) 100 penalty units or imprisonment for 2 years,
or both.
265AB Subsection 916B(2A) 100 penalty units or imprisonment for 2 years,
or both.
265AC Subsection 916B(5A) 50 penalty units or imprisonment for 1 year, or
both.
265AD Subsection 916C(3) 100 penalty units or imprisonment for 2 years,
or both.
265AE Subsection 916D(2A) 100 penalty units or imprisonment for 2 years,
or both.
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Item Provision Penalty
265B Subsection 916F(1) 25 penalty units or imprisonment for 6
months, or both.
265BA Subsection 916F(1A) 25 penalty units or imprisonment for 6
months, or both.
265C Subsection 916F(3) 25 penalty units or imprisonment for 6
months, or both.
266A Subsection 916G(2) 50 penalty units or imprisonment for 1 year, or
both.
266B Subsection 916G(3) 50 penalty units or imprisonment for 1 year, or
both.
266C Subsection 919B(4) 25 penalty units or imprisonment for 6
months, or both.
267A Subsection 919C(1) 50 penalty units or imprisonment for 1 year, or
both.
267B Subsection 919C(2) 50 penalty units or imprisonment for 1 year, or
both.
267C Subsection 919C(3) 50 penalty units or imprisonment for 1 year, or
both.
268A Section 919D 25 penalty units or imprisonment for 6
months, or both.
268B Subsection 920C(2) 25 penalty units or imprisonment for 6
months, or both.
268C Subsection 923A(1) 10 penalty units for each day, or part of a day,
in respect of which the offence is committed.
269A Subsection 923B(1) 10 penalty units for each day, or part of a day,
in respect of which the offence is committed.
269AAA Subsection 923C(1) 10 penalty units for each day, or part of a day,
in respect of which the offence is committed.
269AAB Subsection 923C(2) 10 penalty units for each day, or part of a day,
in respect of which the offence is committed.
269AA Subsection 942B(8) 50 penalty units or imprisonment for 1 year, or
both.
269AB Subsection 942C(8) 50 penalty units or imprisonment for 1 year, or
both.
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Item Provision Penalty
269B Section 942E 100 penalty units or imprisonment for 2 years,
or both.
269C Section 943F 100 penalty units or imprisonment for 2 years,
or both.
270CA Subsection 946AA(4) 50 penalty units.
270CB Subsection 946B(3A)
or (9)
50 penalty units.
271B Subsection 949A(2) 100 penalty units or imprisonment for 2 years,
or both.
271C Subsection 949A(5) 200 penalty units or imprisonment for 5 years,
or both.
272A Subsection 949B(2) 50 penalty units or imprisonment for 1 year, or
both.
272B Subsection 949B(4) 50 penalty units or imprisonment for 1 year, or
both.
273B Subsection 952C(1) 50 penalty units.
273C Subsection 952C(3) 100 penalty units or imprisonment for 2 years,
or both.
274A Subsection 952D(1) 200 penalty units or imprisonment for 5 years,
or both.
274B Subsection 952D(2) 200 penalty units or imprisonment for 5 years,
or both.
274C Subsection 952E(1) 100 penalty units or imprisonment for 2 years,
or both.
275A Subsection 952E(3) 100 penalty units or imprisonment for 2 years,
or both.
275B Subsection 952F(2) 200 penalty units or imprisonment for 5 years,
or both.
275C Subsection 952F(3) 200 penalty units or imprisonment for 5 years,
or both.
276A Subsection 952F(4) 200 penalty units or imprisonment for 5 years,
or both.
276B Subsection 952G(2) 100 penalty units or imprisonment for 2 years,
or both.
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Item Provision Penalty
276C Subsection 952G(4) 100 penalty units or imprisonment for 2 years,
or both.
277A Subsection 952G(6) 100 penalty units or imprisonment for 2 years,
or both.
277B Section 952H 200 penalty units or imprisonment for 5 years,
or both.
277C Subsection 952I(1) 10 penalty units.
278A Subsection 952I(2) 10 penalty units.
278B Subsection 952I(3) 10 penalty units.
278C Subsection 952I(4) 10 penalty units.
279A Subsection 952J(1) 10 penalty units.
279B Section 952K 200 penalty units or imprisonment for 5 years,
or both.
279C Subsection 952L(1) 200 penalty units or imprisonment for 5 years,
or both.
280A Subsection 952L(2) 100 penalty units or imprisonment for 2 years,
or both.
280B Subsection 952L(3) 200 penalty units or imprisonment for 5 years,
or both.
280C Section 952M 200 penalty units or imprisonment for 5 years,
or both.
281A Subsection 982C(1) 100 penalty units or imprisonment for 2 years,
or both.
281B Subsection 982C(2) 100 penalty units or imprisonment for 2 years,
or both.
281C Section 982D 25 penalty units or imprisonment for 6
months, or both.
282A Section 983C 25 penalty units or imprisonment for 6
months, or both.
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Item Provision Penalty
282B Subsection 984B(1) (a) if the offence relates only to a
contravention of requirements referred to
in paragraph 984B(1)(a)—50 penalty
units;
(b) otherwise—100 penalty units or
imprisonment for 2 years, or both.
282BA Subsection 985D(1) 50 penalty units.
282BB Subsection 985J(1) 50 penalty units.
282BC Subsection 985J(2) 50 penalty units.
282BD Subsection 985J(4) 50 penalty units.
282BE Subsection 985K(1) 100 penalty units, or imprisonment for 2
years, or both.
282C Subsection 988A(1) 200 penalty units or imprisonment for 5 years,
or both.
283A Subsection 989B(1) 200 penalty units or imprisonment for 5 years,
or both.
283B Subsection 989B(2) 200 penalty units or imprisonment for 5 years,
or both.
283C Subsection 989B(3) 200 penalty units or imprisonment for 5 years,
or both.
283CA Subsections 989CA(1)
and (2)
50 penalty units.
284A Subsection 990B(1) 200 penalty units or imprisonment for 5 years,
or both.
284B Subsection 990B(2) 200 penalty units or imprisonment for 5 years,
or both.
284C Subsection 990B(6) 25 penalty units or imprisonment for 6
months, or both.
285A Subsection 990D(1) 100 penalty units or imprisonment for 2 years,
or both.
285B Subsection 990D(2) 100 penalty units or imprisonment for 2 years,
or both.
285C Paragraph 990F(a) 100 penalty units or imprisonment for 2 years,
or both.
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Penalties
Item Provision Penalty
286A Subsection 990I(3) 100 penalty units or imprisonment for 2 years,
or both.
286B Subsection 990K(1) 50 penalty units or imprisonment for 1 year, or
both.
286C Subsection 991B(2) 25 penalty units or imprisonment for 6
months, or both.
287A Subsection 991E(1) 25 penalty units or imprisonment for 6
months, or both.
287B Subsection 991E(3) 25 penalty units or imprisonment for 6
months, or both.
287C Subsection 991F(1) 25 penalty units or imprisonment for 6
months, or both.
288A Subsection 991F(2) 25 penalty units or imprisonment for 6
months, or both.
288B Subsection 991F(3) 25 penalty units or imprisonment for 6
months, or both.
288C Subsection 992A(1) 25 penalty units or imprisonment for 6
months, or both.
288CA Subsection 992A(3) 25 penalty units or imprisonment for 6
months, or both.
288CB Subsection 992AA(1) 25 penalty units or imprisonment for 6
months, or both.
289A Subsection 993B(1) 50 penalty units.
289B Subsection 993B(3) 200 penalty units or imprisonment for 5 years,
or both.
289C Subsection 993C(1) 50 penalty units.
290A Subsection 993C(3) 100 penalty units or imprisonment for 2 years,
or both.
290B Subsection 993D(1) 50 penalty units.
290C Subsection 993D(3) 200 penalty units or imprisonment for 5 years,
or both.
290CA Subsection 1012DAA(
10)
25 penalty units or imprisonment for 6
months, or both.
290D Subsection 1012DA(9) 25 penalty units or imprisonment for 6
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Item Provision Penalty
months, or both.
291A Subsection 1012H(2) 100 penalty units or imprisonment for 2 years,
or both.
291B Subsection 1013I(4) 100 penalty units or imprisonment for 2 years,
or both.
291C Subsection 1013K(1) 100 penalty units or imprisonment for 2 years,
or both.
292A Subsection 1013K(2) 100 penalty units or imprisonment for 2 years,
or both.
292B Subsection 1015B(1) 100 penalty units or imprisonment for 2 years,
or both.
292C Subsection 1015D(2) 100 penalty units or imprisonment for 2 years,
or both.
293A Subsection 1015D(3) 100 penalty units or imprisonment for 2 years,
or both.
293B Subsection 1015D(4) 100 penalty units or imprisonment for 2 years,
or both.
293C Subsection 1015E(1) 100 penalty units or imprisonment for 2 years,
or both.
294A Subsection 1016A(2) 200 penalty units or imprisonment for 5 years,
or both.
294B Subsection 1016A(3) 200 penalty units or imprisonment for 5 years,
or both.
294C Subsection 1016B(1) 100 penalty units or imprisonment for 2 years,
or both.
295A Section 1016C 100 penalty units or imprisonment for 2 years,
or both.
295B Subsection 1016D(1) 100 penalty units or imprisonment for 2 years,
or both.
295C Paragraph 1016D(2)(d) 100 penalty units or imprisonment for 2 years,
or both.
296A Subsection 1016E(2) 100 penalty units or imprisonment for 2 years,
or both.
296B Subsection 1017B(1) 200 penalty units or imprisonment for 5 years,
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or both.
296C Subsection 1017C(2) 100 penalty units or imprisonment for 2 years,
or both.
296D Subsection 1017C(2A) 100 penalty units or imprisonment for 2 years,
or both.
297A Subsection 1017C(3) 100 penalty units or imprisonment for 2 years,
or both.
297AA Subsection 1017C(3A) 100 penalty units or imprisonment for 2 years,
or both.
297B Subsection 1017C(5) 100 penalty units or imprisonment for 2 years,
or both.
297C Subsection 1017D(1) 100 penalty units or imprisonment for 2 years,
or both.
297CA Subsection 1017DA(3) 50 penalty units.
298A Subsection 1017E(3) 100 penalty units or imprisonment for 2 years,
or both.
298B Subsection 1017E(4) 100 penalty units or imprisonment for 2 years,
or both.
298C Subsection 1017F(2) 100 penalty units or imprisonment for 2 years,
or both.
299A Subsection 1017G(1) 100 penalty units or imprisonment for 2 years,
or both.
299B Subsection 1018A(1) 100 penalty units or imprisonment for 2 years,
or both.
299C Subsection 1018A(2) 100 penalty units or imprisonment for 2 years,
or both.
300A Subsection 1018B(1) 100 penalty units or imprisonment for 2 years,
or both.
300AA Subsection 1020AB(3) 25 penalty units or imprisonment for 6
months, or both.
300AB Subsection 1020AC(2) 25 penalty units or imprisonment for 6
months, or both.
300AC Subsection 1020AD(2) 25 penalty units or imprisonment for 6
months, or both.
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Item Provision Penalty
300AD Section 1020AE 25 penalty units or imprisonment for 6
months, or both.
300AE Subsection 1020AI(3) 50 penalty units.
300AF Subsection 1020AI(5) 100 penalty units or imprisonment for 2 years,
or both.
300AG Subsection 1020AI(7) 200 penalty units or imprisonment for 5 years,
or both.
300AH Section 1020AJ 100 penalty units or imprisonment for 2 years,
or both.
300B Subsection 1020A(1) 200 penalty units or imprisonment for 5 years,
or both.
300C Subsection 1020B(2) (a) for a first offence—25 penalty units or
imprisonment for 6 months, or both;
(b) for a further offence—100 penalty units or
imprisonment for 2 years, or both.
302A Subsection 1020E(8) 100 penalty units or imprisonment for 2 years,
or both.
302B Subsection 1020E(9) 100 penalty units or imprisonment for 2 years,
or both.
302C Subsection 1021C(1) 50 penalty units.
303A Subsection 1021C(3) 100 penalty units or imprisonment for 2 years,
or both.
303B Subsection 1021D(1) 200 penalty units or imprisonment for 5 years,
or both.
303C Subsection 1021D(2) 200 penalty units or imprisonment for 5 years,
or both.
304A Subsection 1021E(1) 100 penalty units or imprisonment for 2 years,
or both.
304B Subsection 1021E(2) 100 penalty units or imprisonment for 2 years,
or both.
304C Subsection 1021F(1) 200 penalty units or imprisonment for 5 years,
or both.
304D Subsection 1021FA(1) 200 penalty units or imprisonment for 5 years,
or both.
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Item Provision Penalty
304E Subsection 1021FA(2) 100 penalty units or imprisonment for 2 years,
or both.
304F Subsection 1021FB(1) 200 penalty units or imprisonment for 5 years,
or both.
304G Subsection 1021FB(2) 200 penalty units or imprisonment for 5 years,
or both.
304H Subsection 1021FB(3) 100 penalty units or imprisonment for 2 years,
or both.
304I Subsection 1021FB(6) 100 penalty units or imprisonment for 2 years,
or both.
305A Section 1021G 200 penalty units or imprisonment for 5 years,
or both.
305B Subsection 1021H(1) 10 penalty units.
305C Subsection 1021I(1) 200 penalty units or imprisonment for 5 years,
or both.
306A Subsection 1021J(1) 200 penalty units or imprisonment for 5 years,
or both.
306B Subsection 1021J(2) 100 penalty units or imprisonment for 2 years,
or both.
306C Subsection 1021J(3) 100 penalty units or imprisonment for 2 years,
or both.
307A Subsection 1021K(1) 200 penalty units or imprisonment for 5 years,
or both.
307B Subsection 1021L(1) 200 penalty units or imprisonment for 5 years,
or both.
307C Subsection 1021L(2) 200 penalty units or imprisonment for 5 years,
or both.
307CA Subsection 1021M(1) 50 penalty units.
307CB Subsection 1021M(3) 100 penalty units or imprisonment for 2 years,
or both.
308A Section 1021N 100 penalty units or imprisonment for 2 years,
or both.
308AA Subsection 1021NA(1) 100 penalty units or imprisonment for 2 years,
or both.
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308AB Subsection 1021NA(2) 200 penalty units or imprisonment for 5 years,
or both.
308AC Subsection 1021NA(3) 100 penalty units or imprisonment for 2 years,
or both.
308AD Subsection 1021NB(1) 100 penalty units or imprisonment for 2 years,
or both.
308AE Subsection 1021NB(2) 200 penalty units or imprisonment for 5 years,
or both.
308AF Subsection 1021NB(3) 100 penalty units or imprisonment for 2 years,
or both.
308AG Subsections 1021NC(1
) and (2)
100 penalty units or imprisonment for 2 years,
or both.
308AH Subsection 1021NC(3) 200 penalty units or imprisonment for 5 years,
or both.
308AI Subsection 1021NC(4) 100 penalty units or imprisonment for 2 years,
or both.
308C Subsection 1021O(1) 50 penalty units or imprisonment for 6
months, or both.
309A Subsection 1021O(3) 200 penalty units or imprisonment for 5 years,
or both.
309AA Subsection 1021P(1) 100 penalty units or imprisonment for 2 years,
or both.
309AB Subsection 1021P(2) 100 penalty units or imprisonment for 2 years,
or both.
309AC Subsection 1021P(3) 50 penalty units.
309AD Subsection 1021P(4) 100 penalty units or imprisonment for 2 years,
or both.
309AE Subsection 1021P(5) 50 penalty units.
309AF Subsection 1021P(6) 50 penalty units.
310 Section 1041A,
subsections 1041B(1),
and 1041C(1),
section 1041D and
subsections 1041E(1),
In the case of an individual, imprisonment for
10 years or a fine the greater of the following:
(a) 4,500 penalty units;
(b) if the court can determine the total value of
the benefits that have been obtained by one
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Penalties
Item Provision Penalty
1041F(1), 1041G(1),
1043A(1) and
1043A(2)
or more persons and are reasonably
attributable to the commission of the
offence—3 times that total value;
or both.
In the case of a body corporate, a fine the
greatest of the following:
(a) 45,000 penalty units;
(b) if the court can determine the total value of
the benefits that have been obtained by one
or more persons and are reasonably
attributable to the commission of the
offence—3 times that total value;
(c) if the court cannot determine the total
value of those benefits—10% of the body
corporate’s annual turnover during the
12-month period ending at the end of the
month in which the body corporate
committed, or began committing, the
offence.
312B Subsection 1070B(1) 10 penalty units.
312C Subsection 1070C(1) 10 penalty units.
313A Subsection 1070D(3) 10 penalty units.
313B Subsection 1071B(2) 10 penalty units.
313C Section 1071E 10 penalty units.
314A Subsection 1072E(11) 10 penalty units.
314B Subsection 1072H(1) 10 penalty units.
314C Subsection 1072H(3) 10 penalty units.
315A Subsection 1072H(4) 10 penalty units.
315B Subsection 1072H(5) 10 penalty units.
315C Subsection 1072H(6) 10 penalty units.
316A Subsection 1101B(10) 100 penalty units or imprisonment for 2 years,
or both.
316B Subsection 1101C(1) 50 penalty units or imprisonment for 12
months, or both.
316C Subsection 1101C(2) 50 penalty units or imprisonment for 12
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Item Provision Penalty
months, or both.
317A Subsection 1101C(3) 50 penalty units or imprisonment for 12
months, or both.
317B Subsection 1101E(1) 50 penalty units or imprisonment for 12
months, or both.
317BA Subsection 1101F(1A) 50 penalty units or imprisonment for 12
months, or both.
317C Subsection 1101F(1) 50 penalty units or imprisonment for 12
months, or both.
318A Section 1101G 50 penalty units or imprisonment for 12
months, or both.
322 Subsection 1200N(7) 100 penalty units or imprisonment for 2 years,
or both.
323 Subsection 1200N(8) 100 penalty units or imprisonment for 2 years,
or both.
324 Subsection 1200Q(1) 200 penalty units or imprisonment for 5 years,
or both.
325 Subsection 1200Q(2) 200 penalty units or imprisonment for 5 years,
or both.
326 Section 1200S 100 penalty units or imprisonment for 2 years,
or both.
327 Subsection 1200U(6) 100 penalty units or imprisonment for 2 years,
or both.
328 Subsection 1200U(7) 100 penalty units or imprisonment for 2 years,
or both.
332 Section 1274 50 penalty units or imprisonment for 1 year, or
both.
332A Subsections 1299F(1),
(3) and (5)
5 penalty units
332B Subsection 1299G(1) 5 penalty units
332C Subsection 1299G(4) 5 penalty units
333 Subsection 1300(2A) 10 penalty units or imprisonment for 3
months, or both.
334 Section 1307 100 penalty units or imprisonment for 2 years,
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Item Provision Penalty
or both.
335 Subsection 1308(2) 200 penalty units or imprisonment for 5 year,
or both.
336 Subsection 1309(1) 200 penalty units or imprisonment for 5 year,
or both.
337 Subsection 1309(2) 100 penalty units or imprisonment for 2 year,
or both.
338 Subsection 1317AC(1),
(2) or (3)
25 penalty units or imprisonment for 6
months, or both.
338A Subsection 1317AE(1) 25 penalty units.
339 Section 1323 25 penalty units or imprisonment for 6
months, or both.
340 Subsections 1423(1)
and (2)
5 penalty units.
341 Subsection 1431(6) 5 penalty units.
342 Section 1432 5 penalty units.
343 Subsection 1436(2) 5 penalty units.
344 Subsection 1412(3) 100 penalty units or imprisonment for 2 years,
or both.
345 Subsection 1424(3) 100 penalty units or imprisonment for 2 years,
or both.
346 Subsection 1438(6) 50 penalty units.
Note: Chapter 2 of the Criminal Code sets out the general principles of
criminal responsibility.
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Preliminary Part 1
Clause 1
Corporations Act 2001 419
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Schedule 4—Transfer of financial institutions
and friendly societies Note: See section 1465A.
Part 1—Preliminary
1 Definitions
In this Schedule, except so far as the contrary intention appears:
AFIC Code of a State or Territory means the Australian Financial
Institutions Commission Code as set out in the Australian
Financial Institutions Commission Act 1992 of Queensland as in
force immediately before the transfer date and as applied as a law
of the State or Territory.
building society of a State or Territory means a transferring
financial institution authorised under the Financial Institutions
Code of the State or Territory to operate as a building society
immediately before the transfer date.
Financial Institutions Code of a State or Territory means the
Financial Institutions Code set out in the Financial Institutions
(Queensland) Act 1992 as in force immediately before the transfer
date and as applied as a law of the State or Territory.
Friendly Societies Code means the Friendly Societies Code set out
in Schedule 1 to the Friendly Societies (Victoria) Act 1996 as in
force immediately before the transfer date.
Friendly Societies Code of a State or Territory means:
(a) the Friendly Societies Code as applied as a law of the State or
Territory; or
(b) if the State is Western Australia—the Friendly Societies
(Western Australia) Code set out in the Friendly Societies
(Western Australia) Act 1999.
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Clause 1
420 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
member of a transferring financial institution means a person
who, immediately before the transfer date, is a member of the
institution under:
(a) the previous governing Code; or
(b) the rules of the institution.
membership share means a share in a company that was a
transferring financial institution:
(a) that was taken to have been issued under clause 12 of the
transfer provisions; and
(b) that carries the rights and obligations that were conferred or
imposed on the person in a capacity other than that of
shareholder, by:
(i) the institution’s rules (as in force immediately before
the transfer date); and
(ii) the previous governing Code; and
(c) on which no amount is paid; and
(d) on which no amount is unpaid; and
(e) that is not:
(i) transferable or transmissible; or
(ii) capable of devolution by will or by operation of law;
and
(f) that can be cancelled as set out in subclause 12(3).
previous governing Code for a transferring financial institution
means the Code or law under which the institution is registered
immediately before the transfer date.
State Supervisory Authority (SSA) for a transferring financial
institution means:
(a) the SSA for the institution within the meaning of the previous
governing Code; or
(b) in the case of The Cairns Cooperative Weekly Penny Savings
Bank Limited—the Queensland Office of Financial
Supervision.
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transfer date means the date that is the transfer date for the
purposes of the Financial Sector Reform (Amendments and
Transitional Provisions) Act (No. 1) 1999.
transfer provisions of a State or Territory means Schedule 4 to the
Corporations Law of the State or Territory.
transferring financial institution of a State or Territory means:
(a) a building society of the State or Territory (that is, a society
that was registered under the Financial Institutions Code of
the State or Territory, and authorised to operate as a building
society, immediately before the transfer date); or
(b) a credit union of the State or Territory (that is, a society that
was registered under the Financial Institutions Code of the
State or Territory, and authorised to operate as a credit union,
immediately before the transfer date); or
(c) a friendly society of the State or Territory (that is, a body that
was registered as a friendly society under the Friendly
Societies Code of the State or Territory immediately before
the transfer date); or
(d) a body registered as an association under Part 12 of the
Financial Institutions Code of the State or Territory
immediately before the transfer date; or
(e) a body registered as a Special Services Provider under the
AFIC Code of the State or Territory immediately before the
transfer date; or
(f) a body registered as an association under Part 12 of the
Friendly Societies Code of the State or Territory immediately
before the transfer date; or
(g) The Cairns Cooperative Weekly Penny Savings Bank
Limited referred to in section 263 of the Financial
Intermediaries Act 1996 of Queensland if:
(i) the State is Queensland; and
(ii) a determination by APRA under subitem 7(2) of the
Financial Sector Reform (Amendments and Transitional
Provisions) Act (No. 1) 1999 is in force immediately
before the transfer date.
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Part 1 Preliminary
Clause 1
422 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Note: If a determination is made, the Bank will be covered by the Banking Act 1959 from the transfer date. APRA may only make a determination if the Treasurer and the Queensland Minister responsible for the administration of the Financial Intermediaries Act 1996 of Queensland have agreed that the Bank should be covered by the Banking Act 1959.
transition period means the period of 18 months starting on the
transfer date.
withdrawable share of a transferring financial institution of a State
or Territory means a withdrawable share within the meaning of the
Financial Institutions Code of the State or Territory as in force
immediately before the transfer date.
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Registration and its consequences Division 1
Clause 3
Corporations Act 2001 423
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Part 2—Financial institutions that became
companies
Division 1—Registration and its consequences
3 Background (registration of transferring financial institution as
company)
(1) On the transfer date, each transferring financial institution of a
State or Territory was taken to be registered as a company under
the Corporations Law of the State or Territory under the name
under which the institution was registered under the previous
governing Code immediately before the transfer date.
(2) Subclause 3(2) of the transfer provisions governed the kind of
company the transferring financial institution was registered as.
(3) Under clause 7 of the transfer provisions, ASIC:
(a) gave the company an ACN; and
(b) kept a record of the company’s registration; and
(c) issued a certificate to the company that stated:
(i) the company’s name; and
(ii) the company’s ACN; and
(iii) the company’s type; and
(iv) that the company is registered as a company under the
Corporations Law of the State or Territory.
4 Rules applied to transferring institution that was registered as a
company under the transfer provisions
Application of section 1274 to registration documents
(1) Subsections 1274(2) and (5) apply to the record of the company’s
registration referred to in paragraph 3(3)(b) of this Schedule as if it
were a document lodged with ASIC.
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Division 1 Registration and its consequences
Clause 11
424 Corporations Act 2001
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ASIC may keep documents relating to company lodged while it was
a registered body
(2) ASIC may keep any of the documents relating to the company that
were lodged because the company used to be a registered body.
Application of replaceable rules
(3) The replaceable rules (as described in section 135) do not apply to
the company, despite section 135, unless the company:
(a) repealed its constitution after the transfer date and before the
commencement of this Act; or
(b) repeals its constitution on or after the commencement of this
Act.
11 Transferring financial institution under external administration
Background
(1) Clause 11 of the transfer provisions provided that if, immediately
before the transfer date, provisions of Chapter 5 of the
Corporations Law of a State or Territory applied to:
(a) a compromise or arrangement between a transferring
financial institution of the State or Territory and its creditors;
or
(b) a reconstruction of a transferring financial institution of the
State or Territory; or
(c) a receiver or other controller of property of a transferring
financial institution of the State or Territory; or
(d) the winding-up or dissolution of a transferring financial
institution of the State or Territory;
because of Part 9 of the Financial Institutions Code, or Part 9 of the
Friendly Societies Code, of the State or Territory, those provisions
of Chapter 5 continued to apply to that matter after the transfer
date.
Note: Clause 11 of the transfer provisions also provided that:
(a) a matter referred to in paragraph (1)(a), (b) or (d) included an application or other step preliminary to the matter; and
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Corporations Act 2001 425
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(b) any act done before the transfer date under or for the purposes of the provisions of Chapter 5 as applied by the Code were to have effect as if it had been done under or for the purposes of Chapter 5 as it applied after the transfer date.
(2) Clause 11 of the transfer provisions also provided that if, before the
transfer date, a liquidator of a transferring financial institution of a
State or Territory had been appointed under:
(a) section 341 of the Financial Institutions Code of the State or
Territory; or
(b) section 402 of the Friendly Societies Code of the State or
Territory;
the institution could be wound up in accordance with the
provisions of Chapter 5 of the Corporations Law of the State or
Territory.
Continuing external administration under Chapter 5 of the
Corporations Act 2001
(3) If, immediately before the commencement of this Act, provisions
of Chapter 5 of the Corporations Law of a State or Territory
applied to:
(a) a compromise or arrangement between a transferring
financial institution of the State or Territory and its creditors;
or
(b) a reconstruction of a transferring financial institution of the
State or Territory; or
(c) a receiver or other controller of property of a transferring
financial institution of the State or Territory; or
(d) the winding-up or dissolution of a transferring financial
institution of the State or Territory;
because of clause 11 of the transfer provisions, the corresponding
provisions of Chapter 5 of this Act apply (as a law of the
Commonwealth) to that matter after the commencement of this
Act.
(4) Subclause (3) does not limit the regulations that may be made
under clause 28.
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Part 2 Financial institutions that became companies
Division 1 Registration and its consequences
Clause 11
426 Corporations Act 2001
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(5) Any act done:
(a) before the transfer date under or for the purposes of the
provisions of Chapter 5 of the Corporations Law of the State
or Territory as applied by the Code; or
(b) on or after the transfer date and before the commencement of
this Act for the purposes of the provisions of Chapter 5 of the
Corporations Law of the State or Territory as applied by
clause 11 of the transfer provisions;
has effect as if it had been done under or for the purposes of
Chapter 5 of this Act as it applies after the commencement of this
Act.
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Membership Division 2
Clause 12
Corporations Act 2001 427
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Division 2—Membership
12 Institution that became a company limited by shares
Background
(1) Clause 12 of the transfer provisions applied to a transferring
financial institution of a State or Territory if the institution was
taken to be registered as a company limited by shares under
clause 3 of the transfer provisions.
(2) Clause 12 of the transfer provisions provided that:
(a) any shares in the institution on issue immediately before the
transfer date (other than withdrawable shares) became shares
of the company; and
(b) any withdrawable shares of the institution on issue
immediately before the transfer date became redeemable
preference shares of the company; and
(c) in the case of a building society—each person who was a
member of the society immediately before the transfer date,
other than by virtue of only holding shares in the society, was
taken to have been issued with a membership share on the
transfer date; and
(d) in any case other than that of a building society—any person:
(i) who was a member of the institution immediately before
the transfer date; and
(ii) who did not hold any shares in the institution;
was taken to have been issued with a membership share on
the transfer date.
Joint members of institution that became a company limited by
shares
(3) If a person who was taken to have been issued with a membership
share was a joint member, they hold the membership share jointly
with the other member or members of the joint membership. This
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Clause 13
428 Corporations Act 2001
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is so, even if the other member, or another member, held shares in
the institution immediately before the transfer date. However, the
joint membership does not have any more votes because of the
membership share or shares than it had immediately before the
transfer date.
Cancellation shares
(4) A membership share can be cancelled at the option of the holder or
the company in the circumstances (if any):
(a) set out in the company’s constitution; or
(b) in which the member who holds the share could have had
their membership of the institution cancelled immediately
before the transfer date.
Part 2J.1 does not apply to the cancellation of a membership share.
13 Institution that became a company limited by guarantee
Background
(1) Clause 13 of the transfer provisions applied to a transferring
financial institution of a State or Territory if the institution was
taken to be registered as a company limited by guarantee under
clause 3 of the transfer provisions.
(2) Clause 13 of the transfer provisions provided that each person who
was a member of the institution immediately before the transfer
date was taken to have given a guarantee (but only for the purpose
of determining whether the person is a member of the company).
Guarantees
(3) Each person who becomes a member of the company after the
commencement of this Act and before the amount of the relevant
guarantee is determined is taken to have given a guarantee (but
only for the purpose of determining whether the person is a
member of the company).
Note: Someone who became a member after the transfer date and this Act
commences was taken to have given a guarantee by clause 13 of the
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Clause 14
Corporations Act 2001 429
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transfer provisions. This guarantee is preserved by sections 1373 and
1399.
(4) If a person who is taken to have given a guarantee by subclause (2)
is a joint member, they are taken to have given the guarantee
jointly with the other member or members of the joint membership.
However, the joint membership does not have any more votes
because of giving the guarantee or guarantees than it had
immediately before the transfer date.
14 Institution becoming a company limited by shares and guarantee
Background
(1) Clause 14 of the transfer provisions applied to a transferring
financial institution of a State or Territory if the institution was
taken to be registered as a company limited by shares and
guarantee under clause 3 of the transfer provisions.
(2) Clause 14 of the transfer provisions provided that each person who
was a member of the institution immediately before the transfer
date was taken to have given a guarantee (but only for the purpose
of determining whether the person is a member of the company).
Guarantees
(3) Each person who becomes a member of the company after this Act
commences and before the amount of the relevant guarantee is
determined is taken to have given a guarantee (but only for the
purpose of determining whether the person is a member of the
company).
Note: Someone who became a member after the transfer date and this Act
commences was taken to have given a guarantee by clause 13 of the
transfer provisions. This guarantee is preserved by sections 1373 and
1399.
(4) If a person who is taken to have given a guarantee by subclause (2)
is a joint member, they are taken to have given the guarantee
jointly with the other member or members of the joint membership.
However, the joint membership does not have any more votes
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Clause 15
430 Corporations Act 2001
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because of giving the guarantee or guarantees than it had
immediately before the transfer date.
15 Redeemable preference shares that were withdrawable shares
(1) This Act applies to a redeemable preference share that was a
withdrawable share of a transferring financial institution of a State
or Territory immediately before the transfer date, except that:
(a) the share is redeemable on the same terms that the
withdrawable share was withdrawable under the Financial
Institutions Code of the State or Territory and the
institution’s rules or constitution; and
(b) the holder of the share continues to have the same rights and
obligations that they had by holding the withdrawable share.
(2) The provisions of this Act that apply to redeemable preference
shares apply:
(a) subject to subclause (1), to redeemable preference shares of a
company registered under clause 3 of the transfer provisions;
and
(b) to redeemable preference shares of a company (other than a
company referred to in paragraph (a)) that is permitted to use
the expression building society, credit union or credit society
under section 66 of the Banking Act 1959;
even if the shares are the only class of shares issued by the
company.
16 Liability of members on winding up
(1) If a transferring financial institution of a State or Territory that was
registered under clause 3 of the transfer provisions is wound up,
each person:
(a) who was a past member of the institution at the time it
became registered; and
(b) who did not again become a member; and
(c) who had not held shares in the institution;
is not liable under Division 2 of Part 5.6 on the winding up.
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Clause 16
Corporations Act 2001 431
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Note: A person who was a past member at the time of registration and who
held shares in the institution may be liable as a past member under
Division 2 of Part 5.6.
(2) If a company that is registered under clause 3 of the transfer
provisions is wound up, a person who is taken to have given a
guarantee by subclause 13(1) or 14(1) of the transfer provisions, or
clause 13 or 14 of this Schedule, is not liable under:
(a) section 515 merely because the person is or was a member
who is taken to have given a guarantee; or
(b) section 517 or paragraph 518(b) merely because the person is
taken to have given a guarantee.
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Part 2 Financial institutions that became companies
Division 3 Share capital
Clause 17
432 Corporations Act 2001
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Division 3—Share capital
17 Share capital
Background (transfer of certain amounts to share capital)
(1) On registration of a transferring financial institution of a State or
Territory as a company under clause 3 of the transfer provisions:
(a) any amount of withdrawable share capital (within the
meaning of the Financial Institutions Code of the State or
Territory); and
(b) any amount standing to the credit of its share premium
account; and
(c) any amount standing to the credit of its capital redemption
reserve;
immediately before the transfer date became part of the company’s
share capital under clause 17 of the transfer provisions.
Use of amount standing to credit of share premium account
(2) The company may use the amount standing to the credit of its share
premium account immediately before the transfer date (if any) to:
(a) provide for the premium payable on redemption of
debentures or redeemable preference shares issued before the
transfer date; or
(b) write off:
(i) the preliminary expenses of the institution incurred
before the transfer date; or
(ii) expenses incurred, payments made, or discounts
allowed before the transfer date, in respect of any issue
of shares in, or debentures of, the institution.
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Clause 18
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18 Application of no par value rule
(1) Section 254C applies to shares issued by a transferring financial
institution of a State or Territory before the transfer date as well as
shares issued on and after that.
(2) In relation to a share issued by the institution before the transfer
date:
(a) the amount paid on the share is the sum of all amounts paid
to the institution at any time for the share (but not including
any premium); and
(b) the amount unpaid on the share is the difference between the
issue price of the share (but not including any premium) and
the amount paid on the share (see paragraph (a)).
19 Calls on partly-paid shares
The liability of a shareholder for calls in respect of money unpaid
on shares issued before the transfer date by a transferring financial
institution of a State or Territory (whether on account of the par
value of the shares or by way of premium) is not affected by the
share ceasing to have a par value.
20 References in contracts and other documents to par value
(1) This clause applies for the purpose of interpreting and applying the
following after the commencement of this Act:
(a) a contract entered into by a transferring financial institution
of a State or Territory before the transfer date (including the
institution’s constitution);
(b) a trust deed or other document executed by or in relation to
the institution before the transfer date.
Note: The interpretation and application of contracts and deeds before this
Act commences was governed by clause 20 of the transfer provisions.
(2) A reference to the par value of a share issued by a transferring
financial institution of a State or Territory is taken to be a reference
to:
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Clause 20
434 Corporations Act 2001
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(a) if the share is issued before the transfer date—the par value
of the share immediately before then; or
(b) if the share is issued on or after the transfer date but shares of
the same class were on issue immediately before then—the
par value that the share would have had if it had been issued
then; or
(c) if the share is issued on or after the transfer date and shares of
the same class were not on issue immediately before then—
the par value determined by the directors.
A reference to share premium is taken to be a reference to any
residual share capital in relation to the share.
(3) A reference to a right to a return of capital on a share issued by the
institution is taken to be a reference to a right to a return of capital
of a value equal to the amount paid in respect of the share’s par
value.
(4) A reference to the aggregate par value of the institution’s issued
share capital is taken to be a reference to that aggregate as it
existed immediately before the transfer date and:
(a) increased to take account of the par value of any shares
issued after then; and
(b) reduced to take account of the par value of any shares
cancelled after then.
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The transition period Part 4
Clause 25
Corporations Act 2001 435
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Part 4—The transition period
25 ASIC may direct directors of a company to modify its
constitution
(1) If a company registered under clause 3 of the transition provisions
has not modified its constitution so that it complies with
subclause 24(1) of the transition provisions by the end of the
transition period, ASIC may direct, in writing, the directors of the
company to:
(a) take the necessary or specified steps to:
(i) ensure that the company modifies its constitution so that
it does comply; or
(ii) ensure that the company makes the modifications to its
constitution that ASIC specifies; and
(b) take those steps within a specified time (which must be more
than 28 days).
A direction may require the directors to take steps that are
inconsistent with the company’s constitution.
(2) ASIC may issue a direction under subclause (1) before the end of
the transition period if requested by a majority of directors of the
company.
(3) No civil or criminal liability arises from action taken by a director
in good faith and in accordance with a direction issued under
subclause (1).
(4) A person contravenes this subclause if, without reasonable excuse,
they contravene a direction under subclause (1).
(5) A person who intentionally or recklessly contravenes a direction
under subclause (1) is guilty of an offence.
Penalty: 100 penalty units or imprisonment for 2 years, or both.
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Part 4 The transition period
Clause 27
436 Corporations Act 2001
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27 When certain modifications of a company’s constitution under an
exemption or declaration take effect
(1) If the constitution of a company registered under clause 3 of the
transition provisions was modified under an exemption or
declaration made under clause 26 of the transition provisions, and
that modification varies or cancels, or allows the variation or
cancellation of:
(a) rights attached to shares in a class of shares; or
(b) rights of members in a class of members;
the following provisions apply, and to the exclusion of
section 246D if it would otherwise apply.
(2) If the company is not required to lodge a copy of the modification
with ASIC by or under any other provision of this Act, the
company must lodge a copy of the modification with ASIC within
14 days of the modification being made.
(3) If:
(a) members in the class do not all agree (whether by resolution
or written consent) to the modification of the company’s
constitution; or
(b) the members in the class did not have an opportunity to vote
on or consent to the modification;
10% or more of the members in the class may apply to the Court to
have the modification set aside.
Note: If a company has only 1 class of shares, all members are members of
the class.
(4) An application may only be made within 1 month after the
modification is lodged.
(5) The modification takes effect:
(a) if no application is made to the Court to have it set aside—1
month after the modification is lodged; or
(b) if an application is made to the Court to have it set aside—
when the application is withdrawn or finally determined.
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(6) The members of the class who want to have the modification set
aside may appoint 1 or more of themselves to make the application
on their behalf. The appointment must be in writing.
(7) The Court may set aside the modification if it is satisfied that it
would unfairly prejudice the applicants. However, the Court must
confirm the modification if the Court is not satisfied of unfair
prejudice.
(8) Within 14 days after the Court makes an order, the company must
lodge a copy of it with ASIC.
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Part 5 Demutualisations
Clause 29
438 Corporations Act 2001
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Part 5—Demutualisations
29 Disclosure for proposed demutualisation
(1) If a modification of the constitution of an unlisted company
registered under clause 3 of the transition provisions is proposed
and the modification would have the effect of:
(a) varying or cancelling the rights of members, or a class of
members, to the reserves of the company; or
(b) varying or cancelling the rights of members, or a class of
members, to the assets of the company on a winding up; or
(c) varying or cancelling the voting rights of members or a class
of members; or
(d) otherwise varying or cancelling rights so that Part 2F.2 (Class
rights) applies; or
(e) allowing 1 of those variations or cancellations of rights;
the following rules apply:
(f) notice of the meeting of the company’s members at which the
proposed modification is to be considered must be
accompanied by the documents listed in subclause (4);
(g) notice of the meeting may not be shortened under
subsection 249H(2);
(h) the company must lodge with ASIC the notice and the
documents referred to in paragraphs (4)(a) and (c) within 7
days after notice of the meeting is given.
(2) If:
(a) an issue of shares by an unlisted company registered under
clause 3 of the transition provisions would have the effect of
varying or cancelling rights so that Part 2F.2 (Class rights)
applies; and
(b) at least 1 of the following is required to approve the share
issue, or variation or cancellation of rights:
(i) a meeting of the company’s members;
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(ii) a resolution passed at a meeting of the class of members
concerned;
(iii) written consent of a specified proportion of members in
the class concerned;
the following rules apply (in addition to those that apply under
Part 2F.2):
(c) notice of the meeting or consent process must be
accompanied by the documents listed in subclause (4);
(d) the company must lodge with ASIC the notice of the meeting
or consent process and the documents referred to in
paragraphs (4)(a) and (c) within 7 days after the notice is
given;
(e) notice of the meeting may not be shortened under
subsection 249H(2).
Paragraph (c) need not be complied with to the extent that a person
has already been given the documents.
(3) ASIC may exempt a company from this Part under clause 30.
(4) The documents that must accompany the notice are:
(a) a disclosure statement that:
(i) satisfies clause 31; and
(ii) ASIC has registered under clause 32; and
(b) in the case of a proposed modification of the constitution of a
company—an estimate of the financial benefits (if any) the
member will be offered if the proposed modification occurs;
and
(c) a report by an expert that:
(i) states whether, in the expert’s opinion, the proposed
modification or share issue is in the best interests of the
members of the company as a whole; and
(ii) gives the expert’s reasons for forming that opinion; and
(iii) complies with subclauses 33(2) and (3).
(5) If the company contravenes subclause (1) or (2) it is not guilty of
an offence.
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Clause 30
440 Corporations Act 2001
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(6) A person contravenes this subclause if they are involved in a
contravention of subclause (1) or (2).
Note 1: This subclause is a civil penalty provision.
Note 2: Section 79 defines involved.
(7) A person commits an offence if they are involved in a
contravention of subclause (1) or (2) and the involvement is
dishonest.
Penalty: 2,000 penalty units or imprisonment for 5 years, or both.
(8) In this clause:
reserves includes general reserves and retained earnings of the
company.
unlisted company means a company (registered under clause 3)
that does not have voting shares quoted on a prescribed financial
market.
30 ASIC’s exemption power
(1) If ASIC is satisfied that a company does not have a mutual
structure, it may exempt the company from this Part.
(2) If ASIC is satisfied that:
(a) a proposed modification of the constitution of a company
will not result in or allow a modification of the mutual
structure of the company; or
(b) an issue of shares would not result in or allow a modification
of the mutual structure of the company;
it may exempt the company from this Part in relation to the
proposed modification or share issue.
(3) In determining whether the company has a mutual structure, ASIC
may take into account:
(a) the particular structure, circumstances and history of the
company; and
(b) whether:
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(i) each customer of the company (for example an account
holder, mortgagor or policy holder) is required to be a
member of the company; or
(ii) each member (or joint membership) has only 1 vote;
and
(c) any other relevant matter in relation to the company or its
members.
(4) In determining whether the proposed modification or share issue
will result in or allow a modification of the mutual structure of the
company, ASIC must take into account whether the proposed
modification or share issue would have the effect of converting the
company into a company run for the purpose of yielding a return to
shareholders.
(5) An exemption under subclause (2) may apply unconditionally or
subject to specified conditions. A person to whom a condition
specified in an exemption applies must comply with the condition.
The Court may order the person to comply with the condition in a
specified way. Only ASIC may apply to the Court for the order.
(6) The exemption must be in writing and ASIC must publish notice of
it in the Gazette.
(7) For the purposes of this clause, the provisions of this Part include
regulations made for the purposes of this Part.
31 Coverage of disclosure statement
The disclosure statement must give all the information that
members would reasonably require and expect to be given to make
an informed decision about the proposed modification or share
issue.
32 Registration of disclosure statement
(1) ASIC must register the disclosure statement if satisfied that the
statement adequately sets out or explains the following (if
relevant):
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Part 5 Demutualisations
Clause 32
442 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(a) the variation or cancellation of members’ rights
(b) that the proposed modification will allow the variation or
cancellation of members’ rights
(c) in relation to a share issue:
(i) who will and will not receive shares under the issue; and
(ii) the rights and obligations attached to the shares; and
(iii) the implications of the share issue for the management
and structure of the company
(d) what financial benefits (if any) members will be offered if the
proposed modification occurs and why the benefits are
considered to be appropriate
(e) the basis upon which members’ entitlement to the financial
benefits will be determined, including:
(i) any minimum period of membership that a member
must satisfy to receive benefits; or
(ii) whether members must pay an amount or provide other
value to receive benefits
(f) any preferential allocation of benefits to members, or a class
of members, and how that allocation is to be determined
(g) any benefits officers of the company (including retiring
officers) may receive (whether directly or indirectly) in
connection with the proposed modification or share issue
(h) any other proposed changes to the company that are related
to the proposed modification or share issue (for example,
whether the company proposes to list its securities for
quotation on a prescribed financial market or merge with
another company)
(i) the new name of the company, if the company’s name is to
be changed in connection with the proposed modification or
share issue, or that it is not proposed to change the
company’s name
(j) the procedural steps required to vary or cancel the members’
rights
(k) the procedural steps required to issue the shares
(l) how voting on the proposed modification or share issue will
take place.
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Clause 33
Corporations Act 2001 443
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(2) In deciding whether the disclosure statement adequately sets out or
explains the matters in subclause (1), ASIC may also have regard
to:
(a) the readability of the statement; and
(b) whether the statement would be readily comprehensible by
the members of the company concerned.
(3) The disclosure statement must include a statement to the effect that
registration of the disclosure statement:
(a) is on the basis that the statement adequately sets out or
explains the matters in subclause (1); and
(b) does not mean that ASIC has considered whether the
proposed modification or share issue is in the best interests of
the members of the company as a whole.
(4) Subclause (1) does not limit clause 31.
33 Expert’s report
(1) If the company obtains 2 or more reports each of which could be
used for the purposes of paragraph 29(4)(c), a copy of each report
must:
(a) be lodged with ASIC; and
(b) be given to each member entitled to receive a disclosure
statement.
Penalty: 25 penalty units or imprisonment for 6 months, or both.
(2) The report must be by an expert who is not an associate of the
company.
(3) The report must set out details of:
(a) any relationship between the expert and the company,
including any circumstances in which the expert gives it
advice, or acts on its behalf, in the proper performance of the
functions attaching to the expert’s professional capacity or
business relationship with the company; and
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444 Corporations Act 2001
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(b) any financial or other interest of the expert that could
reasonably be regarded as being capable of affecting the
expert’s ability to give an unbiased opinion; and
(c) any fee, payment or other benefit (whether direct or indirect)
that the expert has received or will or may receive in
connection with making the report.
34 Unconscionable conduct in relation to demutualisations
(1) A person must not engage in:
(a) conduct that is, in all the circumstances, unconscionable; or
(b) conduct that is misleading or deceptive or is likely to mislead
or deceive;
in relation to:
(c) a modification of the constitution of an unlisted company that
is a modification to which this Part applies; or
(d) anything done in reliance on, in conjunction with or in
connection with the modification; or
(e) a share issue to which this Part applies.
(2) In determining whether a person has engaged in conduct that
contravenes paragraph (1)(a), have regard to:
(a) whether the person, or someone acting for the person, exerted
undue influence or pressure on, or used unfair tactics against,
members of the company; and
(b) whether the person, or someone acting for the person,
engaged in conduct that resulted in a member or someone
else gaining, or being in a position to gain, a benefit that the
members generally did not, or would not be in a position to,
gain.
This subclause does not limit subclause (1).
(3) A person who contravenes subclause (1) is not guilty of an offence.
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35 Orders the Court may make
(1) Without limiting the Court’s powers under Part 9.5, if the Court is
satisfied that a person has engaged in conduct constituting a
contravention of subclause 34(1), the Court may make 1 or more of
the following orders:
(a) an order requiring the person or a person involved in the
contravention to disclose to the public, to a particular person
or to a particular class of persons, in the manner specified in
the order, specified information, or information of a specified
kind, (being information that is in the possession of the
person to whom the order is directed or to which that person
has access)
(b) an order requiring the person or a person involved in the
contravention to publish, at their own expense, in a manner
and at times specified in the order, advertisements the terms
of which are specified in, or are to be determined in
accordance with, the order
(c) any order that it thinks necessary or desirable:
(i) to protect the rights or interests of any person affected
by the conduct; or
(ii) to ensure, as far as possible, that a proposed
modification or share issue proceeds in the manner in
which it would have proceeded if the conduct had not
been engaged in
(d) without limiting the generality of paragraph (c):
(i) an order prohibiting the exercise of voting or other
rights attached to specified shares; or
(ii) an order directing a company not to make payment, or
to defer making payment, of any amount or amounts
due from the company in respect of specified shares; or
(iii) an order prohibiting the acquisition or disposal of, or of
an interest in, specified shares; or
(iv) an order directing the disposal of, or of an interest in,
specified shares; or
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(v) an order directing a company not to register a transfer or
transmission of specified shares; or
(vi) an order that an exercise of the voting or other rights
attached to specified shares be disregarded; or
(vii) an order directing a company not to issue shares to a
person who holds shares in the company, being shares
that were proposed to be issued to the person because
the person holds shares in the company or pursuant to
an offer or invitation made or issued to the person
because the person holds shares in the company.
(2) Without limiting the Court’s powers under Part 9.5, if, in a
proceeding, the Court is satisfied that:
(a) a person has engaged in conduct constituting a contravention
of subclause 34(1); and
(b) a member of the company has suffered, or is likely to suffer,
loss or damage because of that conduct;
the Court may make the orders that it thinks are appropriate to
compensate the member (in whole or in part) or to prevent or
reduce the loss or damage, including:
(c) an order directing the person or a person who was involved
in the contravention to refund money or return property to the
member
(d) an order directing the person or a person who was involved
in the contravention to pay to the member the amount of the
loss or damage
(e) an order listed in paragraph (1)(d).
(3) An application for an order under this clause may be made by
ASIC or a member of the company.
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Continued application of fundraising provisions of the Friendly Societies Code Part 6
Clause 36
Corporations Act 2001 447
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 6—Continued application of fundraising
provisions of the Friendly Societies Code
36 Friendly Societies Code to apply to offers of interests in benefit
funds
(1) The following apply as a law of the Commonwealth as from the
transfer date:
(a) Divisions 2 and 3 of Part 4B of the Friendly Societies Code
(b) Division 2 of Part 1, and Division 1 of Part 4B, of that Code
to the extent to which they provide for the interpretation of
terms used in the Divisions referred to in paragraph (a)
(c) sections 28, 29 and 128 of that Code to the extent to which
they apply for the purposes of the Divisions referred to in
paragraph (a)
(d) the regulations in force immediately before the transfer date
under Part 4B of that Code to the extent to which they were
made for the purposes of the provisions referred to in
paragraphs (a), (b) and (c)
(e) standards adopted by that Code for the purposes of the
provisions referred to in paragraphs (a), (b) and (c).
(2) The provisions referred to in subclause (1) apply as if:
(a) references in the provisions to a society were references to a
friendly society within the meaning of the Life Insurance Act
1995; and
(b) references to a benefit fund were references to an approved
benefit fund within the meaning of the Life Insurance Act
1995; and
(c) references in the provisions to an SSA were references to
ASIC; and
(d) references in the provisions to lodging a document were
references to lodging the document with ASIC; and
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Clause 36
448 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(e) references in the provisions to the Code were references to
this Act; and
(f) references in the provisions to Part 4B of the Code were
references to the provisions applied by this clause; and
(g) references to a penalty of $20,000 were references to a
penalty of 200 penalty units; and
(h) references to a penalty of $5,000 were references to a penalty
of 50 penalty units; and
(i) references to a penalty of $2,500 were references to a penalty
of 25 penalty units; and
(j) references to a penalty of $1,000 were references to a penalty
of 10 penalty units; and
(k) subsection 135(2) of the Friendly Societies Code were
omitted; and
(l) paragraph 137(1)(e) of the Friendly Societies Code were
omitted and replaced with a provision that requires a
disclosure document to contain any other information that
ASIC requires to be included in the document; and
(m) subsection 137(3) of the Friendly Societies Code were
omitted and replaced with a provision that requires each copy
of a disclosure document to:
(i) state that the document has been lodged with ASIC; and
(ii) specify the date of lodgment; and
(iii) state that ASIC takes no responsibility as to the contents
of the document.
(3) If there is an inconsistency between:
(a) the provisions of Division 2 of Part 1, or Division 1 of
Part 4B, of the Friendly Societies Code; and
(b) the provisions of Chapter 1 of this Act;
the provisions of the Code prevail for the purposes of interpreting
the provisions applied by subclause (1).
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Clause 37
Corporations Act 2001 449
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Part 7—Transitional provisions
37 Unclaimed money
(1) On and from the transfer date, section 414 applies to a sum or other
property that, immediately before the transfer date, is covered by
section 414 as applied by:
(a) section 337 of the Financial Institutions Code of a State or
Territory; or
(b) section 399 of the Friendly Societies Code of a State or
Territory.
(2) On and from the transfer date, section 544 applies to an amount of
money that, immediately before the transfer date, is covered by
section 544 as applied by:
(a) section 342 of the Financial Institutions Code of a State or
Territory; or
(b) section 403 of the Friendly Societies Code of a State or
Territory.
(3) Sections 414 and 544, as applied by this clause, apply as if:
(a) references to Part 9.7 were references to the unclaimed
money law of the State or Territory; and
(b) references to the Commission or ASIC were references to the
Minister administering the unclaimed money law of the State
or Territory.
(4) In this clause:
unclaimed money law means:
(a) the Unclaimed Money Act 1995 of New South Wales; or
(b) the Unclaimed Moneys Act 1962 of Victoria; or
(c) Part 8 of the Public Trustee Act 1978 of Queensland; or
(d) the Unclaimed Money Act 1990 of Western Australia; or
(e) the Unclaimed Moneys Act 1891 of South Australia; or
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(f) the Unclaimed Moneys Act 1918 of Tasmania; or
(g) the Unclaimed Moneys Act 1950 of the Australian Capital
Territory; or
(h) the Companies (Unclaimed Assets and Moneys) Act of the
Northern Territory.
38 Modification by regulations
(1) The regulations may modify the operation of this Act (including
the provisions applied by clause 36) in relation to:
(a) a company registered under clause 3; or
(b) a company that is permitted to use the expression building
society, credit union or credit society under section 66 of the
Banking Act 1959; or
(c) a company that is a friendly society for the purposes of the
Life Insurance Act 1995; or
(d) a specified class of any of those companies.
(2) Regulations made for the purposes of this clause may only modify
this Act in relation to the following matters:
(a) issuing, cancelling or redeeming membership shares or
redeemable preference shares
(b) inspection of the register of members required by section 169
(c) giving notice of a meeting of a company’s members
(d) members’ rights to request the directors to hold a general
meeting or to move a resolution at a general meeting
(e) issuing share certificates for membership shares or
redeemable preference shares, or numbering those shares
(f) the publication of the names and addresses of members in the
annual return
(g) the report to members required by section 314
(h) disposing of securities in a company if the whereabouts of
the holder of the securities is unknown as described in
section 1343
(i) the treatment of members who hold shares jointly or who
have jointly given a guarantee
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Clause 39
Corporations Act 2001 451
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
(j) selective buy-backs.
(3) Regulations made for the purposes of this clause may not:
(a) create an offence with a penalty greater than 10 penalty units;
or
(b) increase the penalty for an existing offence; or
(c) substitute for an existing offence an offence with a penalty
greater than the penalty for the existing offence; or
(d) modify an obligation, contravention of which will result in
committing an offence, so as to make it more difficult to
comply with.
39 Regulations may deal with transitional, saving or application
matters
(1) The regulations may deal with matters of a transitional, saving or
application nature relating to:
(a) the transfer of the registration of transferring financial
institutions to this Act; or
(b) the amendments made by Schedule 3 to the Financial Sector
Reform (Amendments and Transitional Provisions) Act
(No. 1) 1999.
(2) Without limiting subclause (1), the regulations may provide for a
matter to be dealt with, wholly or partly, in any of the following
ways:
(a) by applying (with or without modifications) to the matter:
(i) provisions of a law of the Commonwealth, or of a State
or Territory; or
(ii) provisions of a repealed or amended law of the
Commonwealth, or of a State or Territory, in the form
that those provisions took before the repeal or
amendment; or
(iii) a combination of provisions referred to in
subparagraphs (i) and (ii)
(b) by otherwise specifying rules for dealing with the matter
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(c) by specifying a particular consequence of the matter, or of an
outcome of the matter, for the purposes of this Act.
(3) Without limiting subclause (1) or (2), the regulations may provide
for the continued effect, for the purposes of this Act, of a thing
done or instrument made, or a class of things done or instruments
made, before the transfer date under or for the purposes of a
provision of a previous governing Code of a transferring financial
institution of a State or Territory. In the case of an instrument, or
class of instruments, the regulations may provide for the instrument
or instruments to continue to have effect subject to modifications.
(4) Without limiting subclause (3), regulations providing for the
continued effect of things done or instruments made may permit all
or any of the following matters to be determined in writing by a
specified person, or by a person in a specified class of persons:
(a) the identification of a thing done or instrument made, or a
class of them, that is to continue to have effect
(b) the purpose for which a thing done or instrument made, or a
class of them, is to continue to have effect
(c) any modifications subject to which an instrument made, or a
class of instruments made, is to continue to have effect.
(5) Without limiting subclause (1) or (2), the regulations may provide
for the application of Chapter 5 of this Act or a similar law about
external administration (in whole or in part and with or without
modification) to a transferring financial institution of a State or
Territory if, immediately before the transfer date:
(a) the institution is under external administration (however
described); and
(b) the provisions of Chapter 5 are not already applied to it, or in
relation to it, by a law of the State or Territory.
(6) In this clause, a reference to a law, whether of the Commonwealth
or of a State or Territory, includes a reference to an instrument
made under such a law.
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Endnotes
Endnote 1—About the endnotes
Corporations Act 2001 453
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
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
the amendment to be made. If, despite the misdescription, the amendment can
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Endnotes
Endnote 1—About the endnotes
454 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
be given effect as intended, the amendment is incorporated into the compiled
law and the abbreviation “(md)” added to the details of the amendment included
in the amendment history.
If a misdescribed amendment cannot be given effect as intended, the
abbreviation “(md not incorp)” is added to the details of the amendment
included in the amendment history.
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Endnotes
Endnote 2—Abbreviation key
Corporations Act 2001 455
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
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
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Endnote 3—Legislation history
456 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Endnote 3—Legislation history
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporations Act 2001 50, 2001 28 June
2001
15 July 2001 (s 2 and
gaz 2001, No S285)
Corporations (Repeals,
Consequentials and
Transitionals) Act 2001
55, 2001 28 June
2001
s 4–14, Sch 2 (items 12–
16) and Sch 6: 15 July
2001 (s 2(1) items 1, 2,
14)
s 4–14
as amended by
Statute Law Revision
Act 2006
9, 2006 23 Mar
2006
Sch 2 (items 11–13):
15 July 2001 (s 2(1)
item 28)
—
Treasury Legislation
Amendment
(Application of Criminal
Code) Act (No. 3) 2001
117, 2001 18 Sept
2001
s 4 and Sch 1 (items 1–
178, 183–188, 191–306):
15 Dec 2001 (s 2(1))
Sch 1 (items 179–182,
189, 190): 18 Sept 2001
(s 2(3))
s 4
as amended by
Treasury Legislation
Amendment
(Application of
Criminal Code) Act
(No. 2) 2001
146, 2001 1 Oct 2001 Sch 5 (item 10): 15 Dec
2001 (s 2(1))
—
General Insurance
Reform Act 2001
119, 2001 19 Sept
2001
Sch 3 (items 8–10):
1 July 2002 (s 2(2))
—
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Endnote 3—Legislation history
Corporations Act 2001 457
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Financial Services
Reform Act 2001
122, 2001 27 Sept
2001
Sch 1 (items 1, 138–
459), Sch 2 and Sch 3
(items 28–30): 11 Mar
2002 (s 2(2) and gaz
2001, No GN42)
Sch 3 (items 1–27):
27 Sept 2001 (s 2(1)(b),
(c))
—
as amended by
Treasury Legislation
Amendment
(Application of
Criminal Code) Act
(No. 2) 2001
146, 2001 1 Oct 2001 Sch 5 (items 6–8):
15 Dec 2001 (s 2(1))
—
Statute Law Revision
Act 2005
100, 2005 6 July 2005 Sch 2 (item 13): 11 Mar
2002 (s 2(1) item 33)
—
Financial Services
Reform (Consequential
Provisions) Act 2001
123, 2001 27 Sept
2001
Sch 1 (items 219–222):
15 July 2001 (s 2(4))
Sch 1 (items 223, 224):
27 Sept 2001 (s 2(2))
—
Treasury Legislation
Amendment
(Application of Criminal
Code) Act (No. 2) 2001
146, 2001 1 Oct 2001 s 4 and Sch 5 (items 4,
5): 15 Dec 2001 (s 2(1))
Sch 5 (item 3): 11 Mar
2002 (s 2(3))
s 4
Financial Services
Reform (Consequential
Provisions) Act 2002
29, 2002 5 Apr 2002 Sch 2: 11 Mar 2002
(s 2(1) items 3–5)
—
as amended by
Statute Law Revision
Act 2005
100, 2005 6 July 2005 Sch 2 (item 16): 11 Mar
2002 (s 2(1) item 35)
—
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Endnote 3—Legislation history
458 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporations Legislation
Amendment Act 2003
24, 2003 11 Apr
2003
Sch 1–4: 1 July 2003
(s 2(1) items 2–4)
Sch 5 (items 3, 7–9):
11 Apr 2003 (s 2(1)
items 5, 7)
Sch 5 (items 4–6):
15 July 2001 (s 2(1)
item 6)
—
Corporations
Amendment (Repayment
of Directors’ Bonuses)
Act 2003
25, 2003 11 Apr
2003
11 Apr 2003 (s 2) —
Crimes Legislation
Enhancement Act 2003
41, 2003 3 June 2003 Sch 2 (items 1D–1F):
1 Jan 2003 (s 2(1)
item 5B)
—
Financial Sector
Legislation Amendment
Act (No. 1) 2003
116, 2003 27 Nov
2003
Sch 3: 28 Nov 2003
(s 2(1) item 4)
—
Legislative Instruments
(Transitional Provisions
and Consequential
Amendments) Act 2003
140, 2003 17 Dec
2003
s 4 and Sch 1 (item 15):
1 Jan 2005 (s 2(1)
items 2, 3)
s 4
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Endnote 3—Legislation history
Corporations Act 2001 459
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Financial Services
Reform Amendment Act
2003
141, 2003 17 Dec
2003
Sch 1: 14 Jan 2004
(s 2(1) item 2)
Sch 2 (items 1A, 114):
17 Dec 2003 (s 2(1)
item 1)
Sch 2 (items 1–46C, 47–
72, 73–87, 89–113),
Sch 3 and 4: 18 Dec
2003 (s 2(1) items 3, 3B,
3D, 5, 5A, 6–8)
Sch 2 (items 46D–46F,
72A, 88, 88A): 1 July
2004 (s 2(1) items 3A,
3C, 4, 4A)
—
Bankruptcy Legislation
Amendment Act 2004
80, 2004 23 June
2004
Sch 1 (items 191A–
191D, 212, 213, 215):
1 Dec 2004 (s 2(1)
item 2 and gaz 2004, No
GN34)
Sch 1 (items 212,
213, 215)
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Endnote 3—Legislation history
460 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporate Law
Economic Reform
Program (Audit Reform
and Corporate
Disclosure) Act 2004
103, 2004 30 June
2004
Sch 1 (items 37–129,
176–178), Sch 2
(items 1–9, 17–19),
Sch 2A, Sch 4–8, Sch 9
(items 7–88) and Sch 11
(items 3–14) : 1 July
2004 (s 2(1) items 2, 2A,
2D, 4–11, 13)
Sch 2 (items 12–16) and
Sch 10 and 11A: 1 Jan
2005 (s 2(1) items 2B,
12, 13A)
Sch 3 (items 3, 4):
26 July 2004 (s 2(1)
item 3 and gaz 2004, No
GN28)
Sch 12 (item 2): 30 June
2004 (s 2(1) item 14)
—
Treasury Legislation
Amendment
(Professional Standards)
Act 2004
118, 2004 13 July
2004
Sch 1 (items 4–8):
13 July 2004 (s 2)
—
Financial Framework
Legislation Amendment
Act 2005
8, 2005 22 Feb
2005
s 4 and Sch 1 (items 120,
121, 496): 22 Feb 2005
(s 2(1) items 1, 2, 10)
s 4 and Sch 1
(item 496)
Corporations
Amendment Act (No. 1)
2005
138, 2005 18 Nov
2005
Sch 2: 30 June 2004
(s 2(1) item 3)
Remainder: 18 Nov 2005
(s 2(1) items 1, 2)
—
Offshore Petroleum
(Repeals and
Consequential
Amendments) Act 2006
17, 2006 29 Mar
2006
Sch 2 (item 13): 1 July
2008 (s 2(1) item 2)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
Corporations Act 2001 461
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Tax Laws Amendment
(Repeal of Inoperative
Provisions) Act 2006
101, 2006 14 Sept
2006
Sch 2 (items 29–35) and
Sch 6 (items 1, 6–11):
14 Sept 2006 (s 2(1)
items 2, 4)
Sch 6 (items 1, 6–
11)
Corporations
Amendment (Aboriginal
and Torres Strait
Islander Corporations)
Act 2006
126, 2006 4 Nov 2006 Sch 1: 1 July 2007
(s 2(1) item 2)
—
Trade Practices
Legislation Amendment
Act (No. 1) 2006
131, 2006 6 Nov 2006 Sch 9 (items 16–19, 21):
1 Jan 2007 (s 2(1)
item 3)
Sch 9 (item 21)
Anti-Money Laundering
and Counter-Terrorism
Financing (Transitional
Provisions and
Consequential
Amendments) Act 2006
170, 2006 12 Dec
2006
Sch 1 (item 18): 13 Dec
2006 (s 2(1) item 4)
—
Australian Securities and
Investments
Commission
Amendment (Audit
Inspection) Act 2007
1, 2007 19 Feb
2007
Sch 1 (item 17): 20 Feb
2007 (s 2(1) item 2)
Sch 2: 1 July 2004
(s 2(1) item 3)
—
Private Health Insurance
(Transitional Provisions
and Consequential
Amendments) Act 2007
32, 2007 30 Mar
2007
Sch 2 (item 8B): 1 Apr
2007 (s 2(1) item 7)
—
Corporations
Amendment (Takeovers)
Act 2007
64, 2007 15 Apr
2007
Sch 1: 13 May 2007
(s 2(1) item 2)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
462 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Governance Review
Implementation
(Treasury Portfolio
Agencies) Act 2007
74, 2007 5 June 2007 Sch 1 (items 13–39) and
Sch 2 (items 1–9, 20):
1 July 2007 (s 2(1)
item 2)
Sch 2 (items 1–9,
20)
Corporations (NZ Closer
Economic Relations) and
Other Legislation
Amendment Act 2007
85, 2007 21 June
2007
Sch 1 (items 1–19, 21,
22): 21 Dec 2007 (s 2(1)
items 2, 3, 5)
Sch 1 (item 20): never
commenced 2007 (s 2(1)
item 4)
Sch 2: 1 Sept 2007
(s 2(1) item 6)
—
Corporations Legislation
Amendment (Simpler
Regulatory System) Act
2007
101, 2007 28 June
2007
Sch 1 (items 1–175,
227–246): 28 June 2007
(s 2(1) items 2, 7)
Sch 1 (items 188–197):
1 July 2007 (s 2(1)
item 3)
Sch 1 (items 198–215,
221): 1 Sept 2007 (s 2(1)
item 4)
Sch 1 (items 216–220):
28 Dec 2007 (s 2(1)
item 4)
Sch 1 (item 223): 1 July
2008 (s 2(1) item 5)
Sch 1 (items 224–226):
1 Jan 2009 (s 2(1)
item 6)
Sch 1 (items 227–
246)
as amended by
Statute Law Revision
Act 2008
73, 2008 3 July 2008 Sch 2 (items 3, 4):
28 June 2007 (s 2(1)
(items 46, 47)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
Corporations Act 2001 463
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporations
Amendment
(Insolvency) Act 2007
132, 2007 20 Aug
2007
Sch 1 (items 1–10, 16–
48, 51–120, 122–133),
Sch 2 (items 2–10, 12),
Sch 3, 4, Sch 5 (items 3–
15) and Sch 6: 31 Dec
2007 (s 2(1) items 2, 4,
6, 7, 9, 10)
Sch 1 (items 49, 50, 121)
and Sch 2 (item 11):
1 July 2008 (s 2(1)
items 3, 8)
—
Financial Sector
Legislation Amendment
(Discretionary Mutual
Funds and Direct
Offshore Foreign
Insurers) Act 2007
149, 2007 24 Sept
2007
Sch 2 (items 1, 2): 1 July
2008 (s 2(1) item 2)
Sch 3: 22 Oct 2007
(s 2(1) item 3)
—
Financial Sector
Legislation Amendment
(Simplifying Regulation
and Review) Act 2007
154, 2007 24 Sept
2007
Sch 1 (items 52, 296)
and Sch 4 (items 16–30):
24 Sept 2007 (s 2(1)
item 2, 6, 7)
Sch 1 (items 167–172):
1 Jan 2008 (s 2(1)
item 3)
Sch 1 (item 296)
First Home Saver
Accounts (Consequential
Amendments) Act 2008
45, 2008 25 June
2008
Sch 2 (items 3–14):
26 June 2008 (s 2)
—
Private Health Insurance
Legislation Amendment
Act 2008
54, 2008 25 June
2008
Sch 1 (item 3): 25 June
2008 (s 2)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
464 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Financial System
Legislation Amendment
(Financial Claims
Scheme and Other
Measures) Act 2008
105, 2008 17 Oct
2008
Sch 1 (items 54, 62) and
Sch 3 (items 27–31):
18 Oct 2008 (s 2(1)
items 2, 3)
Sch 1 (item 62)
and Sch 3
(item 31)
Offshore Petroleum
Amendment
(Greenhouse Gas
Storage) Act 2008
117, 2008 21 Nov
2008
Sch 3 (item 5): 22 Nov
2008 (s 2(1) item 4)
—
Same-Sex Relationships
(Equal Treatment in
Commonwealth Laws—
General Law Reform)
Act 2008
144, 2008 9 Dec 2008 Sch 14 (items 130–150):
10 Dec 2008 (s 2(1)
item 36)
—
Corporations
Amendment (Short
Selling) Act 2008
146, 2008 11 Dec
2008
Sch 2: 8 Jan 2009 (s 2(1)
item 3)
Sch 3: 11 Dec 2009
(s 2(1) item 4)
Remainder: 11 Dec 2008
(s 2(1) items 1, 2)
—
Corporations
Amendment (No. 1) Act
2009
9, 2009 25 Feb
2009
25 Feb 2009 (s 2) —
Fair Work (State
Referral and
Consequential and Other
Amendments) Act 2009
54, 2009 25 June
2009
Sch 18 (items 2, 3):
1 July 2009 (s 2(1)
item 41)
—
Financial Sector
Legislation Amendment
(Enhancing Supervision
and Enforcement) Act
2009
75, 2009 27 Aug
2009
Sch 1 (items 195–199):
27 Feb 2010 (s 2(1)
item 2)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
Corporations Act 2001 465
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporations Legislation
Amendment (Financial
Services Modernisation)
Act 2009
108, 2009 6 Nov 2009 Sch 1 and Sch 3
(items 2, 3): 1 Jan 2010
(s 2(1) items 2, 5)
Sch 2 (items 4–28):
6 May 2010 (s 2(1)
item 3)
Sch 3 (item 1), Sch 4 and
Sch 5: 6 Nov 2009
(s 2(1) items 4, 6, 7)
—
Tax Agent Services
(Transitional Provisions
and Consequential
Amendments) Act 2009
114, 2009 16 Nov
2009
Sch 1 (item 2) and Sch 2:
1 Mar 2010 (s 2(1)
items 2, 4)
Sch 2
Corporations
Amendment (Improving
Accountability on
Termination Payments)
Act 2009
115, 2009 23 Nov
2009
Sch 1: 24 Nov 2009
(s 2(1) items 2–4)
Sch 1 (item 43)
National Consumer
Credit Protection
(Transitional and
Consequential
Provisions) Act 2009
135, 2009 15 Dec
2009
Sch 3 (items 2, 3): 1 Apr
2010 (s 2(1) item 4)
—
Crimes Legislation
Amendment (Serious
and Organised Crime)
Act (No. 2) 2010
4, 2010 19 Feb
2010
Sch 10 (item 6): 20 Feb
2010 (s 2(1) item 13)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
466 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporations
Amendment (Financial
Market Supervision) Act
2010
26, 2010 25 Mar
2010
Sch 1: 1 Aug 2010
(s 2(1) item 2)
—
as amended by
Corporations
Amendment
(Corporate Reporting
Reform) Act 2010
66, 2010 28 June
2010
Sch 1 (item 53): 28 June
2010 (s 2(1) item 3)
—
Trade Practices
Amendment (Australian
Consumer Law) Act
(No. 1) 2010
44, 2010 14 Apr
2010
Sch 3 (items 15–17):
15 Apr 2010 (s 2(1)
item 9)
—
Corporations
Amendment (Corporate
Reporting Reform) Act
2010
66, 2010 28 June
2010
Sch 1 (items 1–52):
28 June 2010 (s 2(1)
items 2, 3)
Sch 1 (item 54): never
commenced (s 2(1)
item 4)
—
Tax Laws Amendment
(Transfer of Provisions)
Act 2010
79, 2010 29 June
2010
Sch 1 (item 13): 1 July
2010 (s 2(1) item 2)
—
Personal Property
Securities (Corporations
and Other Amendments)
Act 2010
96, 2010 6 July 2010 Sch 1 (items 1–185,
187): 30 Jan 2012 (s 2(1)
items 2, 4)
Sch 1 (item 186): 6 July
2010 (s 2(1) item 3)
—
as amended by
Statute Law Revision
Act 2013
103, 2013 29 June
2013
Sch 2 (item 10): 29 June
2013 (s 2(1) item 3)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
Corporations Act 2001 467
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Trade Practices
Amendment (Australian
Consumer Law) Act
(No. 2) 2010
103, 2010 13 July
2010
Sch 3 (items 33–36):
1 Jan 2011 (s 2(1)
item 2)
—
Corporations
Amendment (No. 1) Act
2010
131, 2010 24 Nov
2010
Sch 1 (items 4–20):
13 Dec 2010 (s 2(1)
item 2)
—
Corporations
Amendment (Sons of
Gwalia) Act 2010
150, 2010 17 Dec
2010
Sch 1: 18 Dec 2010
(s 2(1) item 2)
Sch 1 (item 4)
Statute Law Revision
Act 2011
5, 2011 22 Mar
2011
Sch 1 (items 15–53):
22 Mar 2011 (s 2(1)
item 2)
—
Corporations and Other
Legislation Amendment
(Trustee Companies and
Other Measures) Act
2011
24, 2011 12 Apr
2011
Sch 1 (items 3–7, 9–11):
13 Apr 2011 (s 2(1)
items 2, 4)
Sch 1 (items 8, 13–36):
10 May 2011 (s 2(1)
items 3, 6)
Sch 1 (item 12): 6 May
2010 (s 2(1) item 5)
—
Personal Property
Securities (Corporations
and Other Amendments)
Act 2011
35, 2011 26 May
2011
Sch 1: 30 Jan 2012
(s 2(1) item 2)
—
Corporations
Amendment (Improving
Accountability on
Director and Executive
Remuneration) Act 2011
42, 2011 27 June
2011
1 July 2011 (s 2) —
Carbon Credits
(Consequential
Amendments) Act 2011
102, 2011 15 Sept
2011
Sch 1 (items 9–11):
8 Dec 2011 (s 2(1)
item 2)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
468 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Business Names
Registration
(Transitional and
Consequential
Provisions) Act 2011
127, 2011 3 Nov 2011 Sch 2 (items 14–20):
20 Apr 2012 (s 2(1)
item 4)
Act No 172, 2011
(Sch 1 item 4)
Clean Energy
(Consequential
Amendments) Act 2011
132, 2011 18 Nov
2011
Sch 1 (items 259, 260):
1 July 2012 (s 2(1)
item 3)
—
Corporations
Amendment (Phoenixing
and Other Measures) Act
2012
48, 2012 26 May
2012
Sch 1 and 2: 1 July 2012
(s 2(1) item 2)
—
Corporations
Amendment (Future of
Financial Advice) Act
2012
67, 2012 27 June
2012
Sch 1: 1 July 2012
(s 2(1) item 2)
—
Corporations
Amendment (Further
Future of Financial
Advice Measures) Act
2012
68, 2012 27 June
2012
Sch 1: 1 July 2012
(s 2(1) item 2)
—
as amended by
Statute Law Revision
Act 2013
103, 2013 29 June
2013
Sch 2 (item 6): 1 July
2012 (s 2(1) item 7)
—
Corporations Legislation
Amendment (Audit
Enhancement) Act 2012
72, 2012 27 June
2012
Sch 1: 25 July 2012
(s 2(1) item 2)
—
Corporations
Amendment (Proxy
Voting) Act 2012
73, 2012 27 June
2012
28 June 2012 (s 2) —
Tax Laws Amendment
(2012 Measures No. 2)
Act 2012
99, 2012 29 June
2012
Sch 1 (items 24–34, 47):
30 June 2012 (s 2(1)
item 4)
Sch 1 (item 47)
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
Corporations Act 2001 469
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporations Legislation
Amendment (Financial
Reporting Panel) Act
2012
118, 2012 12 Sept
2012
Sch 1 (items 3–6, 8):
1 Oct 2012 (s 2(1)
item 2)
—
Commonwealth
Government Securities
Legislation Amendment
(Retail Trading) Act
2012
155, 2012 17 Nov
2012
Sch 1 (items 8–17):
18 Nov 2012 (s 2)
—
Superannuation
Legislation Amendment
(MySuper Core
Provisions) Act 2012
162, 2012 28 Nov
2012
Sch 1 (item 1A): 28 Nov
2012 (s 2(1) item 1A)
—
Australian Charities and
Not-for-profits
Commission
(Consequential and
Transitional) Act 2012
169, 2012 3 Dec 2012 Sch 2 (items 135–137)
and Sch 3 (item 24):
3 Dec 2012 (s 2(1)
items 3, 10)
Sch 3 (items 25–32):
1 July 2013 (s 2(1)
item 11)
Sch 3 (item 29)
Superannuation
Legislation Amendment
(Further MySuper and
Transparency Measures)
Act 2012
171, 2012 3 Dec 2012 Sch 3 (items 5–23):
1 July 2013 (s 2(1)
item 16)
—
Treasury Legislation
Amendment (Unclaimed
Money and Other
Measures) Act 2012
176, 2012 4 Dec 2012 Sch 5 (items 2–8): 5 Dec
2012 (s 2(1) item 11)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
470 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporations Legislation
Amendment (Derivative
Transactions) Act 2012
178, 2012 6 Dec 2012 Sch 1 (items 1–43):
3 Jan 2013 (s 2(1)
item 2)
—
as amended by
Statute Law Revision
Act 2013
103, 2013 29 June
2013
Sch 2 (item 7): 3 Jan
2013 (s 2(1) item 8)
—
Personal Liability for
Corporate Fault Reform
Act 2012
180, 2012 10 Dec
2012
Sch 1 and 7: 11 Dec
2012 (s 2)
Sch 7
Corporations and
Financial Sector
Legislation Amendment
Act 2013
59, 2013 21 June
2013
Sch 1 (items 10–15, 39–
41): 19 July 2013 (s 2(1)
item 2)
—
Superannuation
Legislation Amendment
(Service Providers and
Other Governance
Measures) Act 2013
61, 2013 26 June
2013
Sch 1 (items 1–3, 9,
10A–10E, 11, 12A):
1 July 2013 (s 2(1)
items 2, 5, 6A, 7, 8A)
Sch 1 (items 4–6): 1 July
2015 (s 2(1) item 3)
Sch (items 7, 8, 12):
27 June 2013 (s 2(1)
items 4, 8)
Sch 1 (item 10): 28 Nov
2012 (s 2(1) item 6)
—
Clean Energy
Legislation (Carbon Tax
Repeal) Act 2014
83, 2014 17 July
2014
Sch 1 (items 105–107):
1 July 2014 (s 2(1)
item 2)
—
Corporations
Amendment (Simple
Corporate Bonds and
Other Measures) Act
2014
100, 2014 11 Sept
2014
19 Dec 2014 (s 2(1)
item 2)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
Corporations Act 2001 471
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporations Legislation
Amendment
(Deregulatory and Other
Measures) Act 2015
19, 2015 19 Mar
2014
Sch 1: 19 Mar 2014 (s 2) —
Public Governance and
Resources Legislation
Amendment Act (No. 1)
2015
36, 2015 13 Apr
2015
Sch 5 (items 32–36, 74–
77) and Sch 7: 14 Apr
2015 (s 2)
Sch 5 (items 74–
77) and Sch 7
as amended by
Acts and Instruments
(Framework Reform)
(Consequential
Provisions) Act 2015
126, 2015 10 Sept
2015
Sch 1 (item 486):
5 March 2016 (s 2(1)
item 2)
—
Tax and Superannuation
Laws Amendment (2015
Measures No. 1) Act
2015
70, 2015 25 June
2015
Sch 1 (items 27–38,
195–205): 1 July 2015
(s 2(1) items 3, 6)
Sch 1 (items 195–
205)
Insolvency Law Reform
Act 2016
11, 2016 29 Feb
2016
Sch 2 (items 1, 2, 63–93,
95–265, 322) and Sch 3
(items 1–3, 5–35): 1 Mar
2017 (s 2(1) items 3, 5,
7, 8)
Sch 2 (item 94): awaiting
commencement (s 2(1)
item 4)
—
Corporations
Amendment (Financial
Advice Measures) Act
2016
22, 2016 18 Mar
2016
Sch 1: 19 Mar 2016
(s 2(1) item 2)
—
Corporations
Amendment (Auditor
Registration) Act 2016
58, 2016 23 Sept
2016
Sch 1: 24 Sept 2016 (s
2(1) item 1)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 3—Legislation history
472 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Act Number
and year
Assent Commencement Application,
saving and
transitional
provisions
Corporations
Amendment (Life
Insurance Remuneration
Arrangements) Act 2017
6, 2017 22 Feb
2017
Sch 1: 1 Jan 2018 (s 2(1)
item 2)
—
Corporations
Amendment
(Professional Standards
of Financial Advisers)
Act 2017
7, 2017 22 Feb
2017
Sch 1 (items 1–20, 27):
15 Mar 2017 (s 2(1)
item 1)
—
Corporations
Amendment
(Crowd-sourced
Funding) Act 2017
17, 2017 28 Mar
2017
Sch 1 (items 1–34) and
Sch 2: awaiting
commencement (s 2(1)
item 2)
Sch 3: 29 Mar 2017
(s 2(1) item 3)
Sch 3 (items 2, 5)
Treasury Laws
Amendment (2016
Measures No. 1) Act
2017
25, 2017 4 Apr 2017 Sch 2: 5 Apr 2017 (s
2(1) item 3)
Sch 5: 4 Apr 2018 (s
2(1) item 7)
—
ASIC Supervisory Cost
Recovery Levy
(Consequential
Amendments) Act 2017
45, 2017 19 June
2017
Sch 1 (items 3–19, 29):
1 July 2017 (s 2(1)
item 1)
Sch 1 (item 29)
Treasury Laws
Amendment (2017
Measures No. 2) Act
2017
55, 2017 22 June
2017
Sch 2 (items 3–8):
22 June 2017 (s 2(1)
item 8)
—
Treasury Laws
Amendment (2017
Measures No. 3) Act
2017
75, 2017 26 June
2017
Sch 1 (items 8–11):
15 July 2001 (s 2(1) item
1)
—
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 473
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Endnote 4—Amendment history
Provision affected How affected
Title ...............................................am No 122, 2001
Chapter 1
Part 1.1
s. 5 .................................................am. No. 122, 2001
s. 5A...............................................am. No. 122, 2001; No. 108, 2009
s. 5C...............................................rs. No. 140, 2003
Part 1.1A
s 5D................................................am No 108, 2009
Part 1.2
Division 1
s. 6 .................................................am. No. 122, 2001
s. 7 .................................................am. No. 122, 2001
s 9 ..................................................am No 55, 2001; No 117, 2001; No 122, 2001; No 24, 2003; No 25,
2003; No 116, 2003; No 141, 2003; No 80, 2004; No 103, 2004; No 17,
2006; No 126, 2006; No 64, 2007; No 74, 2007; No 85, 2007; No 101,
2007; No 132, 2007; No 45, 2008; No 117, 2008; No 144, 2008; No
108, 2009; No 115, 2009; No 26, 2010; No 66, 2010; No 96, 2010; No
5, 2011; No 24, 2011; No 42, 2011; No 102, 2011; No 127, 2011; No
132, 2011; No 48, 2012; No 68, 2012; No 72, 2012; No 118, 2012; No
169, 2012; No 176, 2012; No 178, 2012; No 59, 2013; No 83, 2014; No
100, 2014; No 70, 2015; No 11, 2016; No 17, 2017; No 25, 2017
s. 9AA............................................ad. No. 144, 2008
s. 9A...............................................ad. No. 101, 2007
s. 9B...............................................ad. No. 42, 2011
Division 2
s. 12 ...............................................rs. No. 122, 2001
s. 13 ...............................................am. No. 122, 2001
s. 14 ...............................................rep. No. 122, 2001
s. 16 ...............................................am. No. 122, 2001
s. 17 ...............................................rs. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
474 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 3
s. 21 ...............................................am. No. 96, 2010
Division 4 ......................................rep. No. 122, 2001
ss. 23–29........................................rep. No. 122, 2001
Division 5A
s. 45A.............................................am. No. 103, 2004; No. 101, 2007
s. 45B.............................................ad. No. 66, 2010
am No 36, 2015
Division 6
s. 50AAA.......................................ad. No. 103, 2004
Division 6A
Division 6A....................................ad. No. 96, 2010
s. 51 ...............................................rep. No. 122, 2001
ad. No. 96, 2010
s. 51A.............................................ad. No. 96, 2010
s. 51B.............................................ad. No. 96, 2010
s. 51C.............................................ad. No. 96, 2010
s. 51D.............................................ad. No. 96, 2010
s. 51E.............................................ad. No. 96, 2010
s. 51F .............................................ad. No. 96, 2010
Division 7
s. 53 ...............................................am. No. 116, 2003; No. 24, 2011
s. 53AB..........................................am. No. 80, 2004
ss. 54–56........................................rep. No. 122, 2001
s 57A..............................................am No 103, 2004; No 126, 2006; No 11, 2016
s. 58AA..........................................am. No. 5, 2011
s. 60 ...............................................ad. No. 132, 2007
am. No. 96, 2010
s. 61 ...............................................rep. No. 122, 2001
s. 64 ...............................................am. No. 122, 2001
ss. 67, 68 ........................................rep. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 475
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
ss. 71, 72 ........................................rep. No. 122, 2001
s. 72A.............................................rep. No. 122, 2001
s. 73 ...............................................rep. No. 122, 2001
s. 77 ...............................................rep. No. 122, 2001
s. 82A.............................................rep. No. 103, 2004
s. 84 ...............................................rep. No. 122, 2001
ss. 87, 88 ........................................rep. No. 122, 2001
s. 88B.............................................ad. No. 122, 2001
s 91 ................................................rep No 116, 2003
ad No 11, 2016
s. 92 ...............................................am. No. 122, 2001
s. 92A.............................................rep. No. 122, 2001
ss. 93, 94 ........................................rep. No. 122, 2001
s. 95A.............................................rep. No. 122, 2001
ad. No. 29, 2002
s. 97 ...............................................rep. No. 122, 2001
Division 8
s. 103 .............................................am. No. 122, 2001
s. 107 .............................................ad. No. 24, 2003
s. 109X...........................................am. No. 116, 2003
Part 1.2A
Division 2
s. 111AD........................................am. No. 122, 2001
s. 111AE ........................................am. No. 122, 2001
s. 111AF ........................................am. No. 122, 2001; No. 85, 2007
s. 111AFA......................................ad. No. 122, 2001
am. No. 85, 2007
s. 111AH........................................am. No. 122, 2001
s. 111AI .........................................rs. No. 85, 2007
Division 3
s. 111ANA.....................................ad. No. 42, 2011
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
476 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 111AO........................................am. No. 103, 2004
s. 111AP ........................................am. No. 122, 2001
s. 111AQA.....................................ad. No. 122, 2001
am. No. 103, 2004
Division 4
s. 111AR ........................................am. No. 122, 2001
Part 1.5
s. 1 (to Part 1.5)..............................am. No. 116, 2003
s. 3 (to Part 1.5)..............................am. No. 116, 2003; No. 96, 2010
s. 4 (to Part 1.5)..............................am. No. 24, 2003; No. 101, 2007; No. 96, 2010
s. 5 (to Part 1.5)..............................am. Nos. 24 and 116, 2003; No. 101, 2007
s. 7 (to Part 1.5)..............................am. Nos. 24 and 116, 2003
s. 8 (to Part 1.5)..............................am. No. 96, 2010
s. 9 (to Part 1.5)..............................am. No. 116, 2003; No. 66, 2010
s. 11 (to Part 1.5)............................am. No. 116, 2003; No. 5, 2011
s. 12 (to Part 1.5)............................am. No. 116, 2003; No. 96, 2010
Part 1.6
Part 1.6...........................................ad. No. 169, 2012
s. 111K...........................................ad. No. 169, 2012
am No 36, 2015
s. 111L ...........................................ad. No. 169, 2012
am No 169, 2012
s. 111M..........................................ad. No. 169, 2012
s. 111N...........................................ad. No. 169, 2012
s 111P ............................................ad No 169, 2012
s. 111Q...........................................ad. No. 169, 2012
Chapter 2A
Part 2A.1
s. 112 .............................................am. No. 5, 2011
s. 113 .............................................am. No. 117, 2001
s. 115 .............................................am. No. 117, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 477
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 2A.2
s 117 ..............................................am No 117, 2001; No 24, 2003; No 17, 2017
s. 123 .............................................am. No. 117, 2001; No. 24, 2003
Chapter 2B
Part 2B.1
s. 124 .............................................am. No. 96, 2010
Part 2B.2
s. 130 .............................................am. No. 35, 2011
Part 2B.4
s. 136 .............................................am. No. 117, 2001
s. 139 .............................................am. No. 117, 2001
s. 141 .............................................am. No. 122, 2001; No. 116, 2003; No. 103, 2004
Part 2B.5
s. 142 .............................................am. No. 117, 2001; No. 24, 2003; No. 101, 2007
s. 143 .............................................am. No. 117, 2001; No. 103, 2004
s. 144 .............................................am. No. 117, 2001
s. 145 .............................................am. No. 117, 2001
s. 146 .............................................am. No. 117, 2001; No. 24, 2003
s. 146A...........................................ad. No. 101, 2007
Part 2B.6
Division 1
s. 147 .............................................am. No. 127, 2011
s. 148 .............................................am. No. 117, 2001
s. 149 .............................................am. No. 24, 2003
s. 150 .............................................am. No. 117, 2001; No. 169, 2012
s. 151 .............................................am. No. 117, 2001; No. 101, 2007
s. 153 .............................................am. No. 117, 2001; No. 24, 2003
s. 156 .............................................am. No. 117, 2001
Division 2
s. 157 .............................................am. No. 117, 2001
s. 157A...........................................ad. No. 132, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
478 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am. No. 96, 2010
s. 158 .............................................am. No. 117, 2001
s 161A............................................ad No 132, 2007
am No 5, 2011; No 11, 2016
Part 2B.7
s 162 ..............................................am No 117, 2001; No 11, 2016
s 163 ..............................................am No 117, 2001; No 24, 2003; No 103, 2004; No 101, 2007; No 17,
2017
s. 165 .............................................am. No. 117, 2001
Chapter 2C
Part 2C.1
Part 2C.1 heading...........................ad. No. 24, 2003
s. 168 .............................................am. No. 117, 2001; No. 103, 2004; No. 96, 2010
s. 169 .............................................am. No. 24, 2003; No. 5, 2011
s. 170 .............................................am. Nos. 117 and 122, 2001
s. 172 .............................................am. No. 117, 2001
s. 173 .............................................am. No. 117, 2001; No. 131, 2010
s. 174 .............................................am. No. 117, 2001
s. 175 .............................................am. No. 24, 2003
s. 177 .............................................am. No. 117, 2001; No. 131, 2010
Part 2C.2
Part 2C.2 ........................................ad. No. 24, 2003
s. 178A...........................................ad. No. 24, 2003
s. 178B...........................................ad. No. 24, 2003
s. 178C...........................................ad. No. 24, 2003
s. 178D...........................................ad. No. 24, 2003
Chapter 2D
Part 2D.1
Division 1
s. 188 .............................................am. No. 117, 2001; No. 24, 2003; No. 116, 2003; No. 103, 2004
rs. No. 180, 2012
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 479
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 190B...........................................ad. No. 126, 2006
Division 2
s. 191 .............................................am. No. 117, 2001
s. 195 .............................................am. No. 117, 2001
Division 3
s. 197 .............................................am. No. 138, 2005; No. 126, 2006
Division 5
Division 5 ......................................ad No 11, 2016
s 198G............................................ad No 11, 2016
Part 2D.2
Division 1
s. 199A...........................................am. No. 103, 2004; No. 9, 2009; No. 26, 2010; No. 68, 2012
s. 199B...........................................am. No. 117, 2001
Division 2
s. 200 .............................................ad. No. 115, 2009
s. 200AA........................................ad. No. 115, 2009
s. 200AB ........................................ad. No. 115, 2009
s. 200A...........................................am. No. 115, 2009
s. 200B...........................................am. No. 117, 2001; No. 115, 2009
s. 200C...........................................am. No. 117, 2001; No. 115, 2009
s. 200D...........................................am. No. 115, 2009
s. 200E ...........................................am. No. 115, 2009
s. 200F ...........................................am. No. 117, 2001; No. 115, 2009
s. 200G...........................................am. No. 115, 2009
s. 200J............................................am. No. 115, 2009
Part 2D.3
Division 1
Subdivision A
Subdivision A heading...................ad. No. 42, 2011
s. 201C...........................................rep. No. 24, 2003
s. 201D...........................................am. No. 117, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
480 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 201L ...........................................am. No. 103, 2004
Subdivision B
Subdivision B ................................ad. No. 42, 2011
s. 201N...........................................ad. No. 42, 2011
s. 201P ...........................................ad. No. 42, 2011
s. 201Q...........................................ad. No. 42, 2011
s. 201R...........................................ad. No. 42, 2011
s. 201S ...........................................ad. No. 42, 2011
s. 201T ...........................................ad. No. 42, 2011
s. 201U...........................................ad. No. 42, 2011
Division 2
s. 202B...........................................am. No. 117, 2001
Division 3
s. 203D...........................................am. No. 117, 2001
Part 2D.4
s. 204A...........................................am. No. 117, 2001
s. 204C...........................................am. No. 117, 2001
s. 204D...........................................am. No. 103, 2004
Part 2D.5
s. 205A...........................................am. No. 101, 2007
s. 205B...........................................am. No. 117, 2001; No. 24, 2003; No. 101, 2007
s. 205C...........................................am. No. 117, 2001
s. 205E ...........................................am. No. 117, 2001
s. 205F ...........................................am. No. 117, 2001
s. 205G...........................................am. Nos. 117 and 122, 2001; No. 24, 2003
Part 2D.6
s 206A............................................am No 117, 2001
s 206B............................................am No 80, 2004; No 126, 2006; No 9, 2009; No 11, 2016
s 206BA.........................................ad No 103, 2004
am No 126, 2006; No 11, 2016
s. 206C...........................................am. No. 122, 2001; No. 126, 2006
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 481
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 206D...........................................am. No. 103, 2004; No. 126, 2006
s. 206E ...........................................am. No. 126, 2006
s. 206EAA .....................................ad. No. 9, 2009
s. 206EA ........................................ad. No. 131, 2006
rs. No. 103, 2010
s. 206EB ........................................ad. No. 44, 2010
s. 206F ...........................................am. No. 126, 2006
s. 206GA........................................ad. No. 131, 2006
s. 206H...........................................am. No. 9, 2009
s. 206HB........................................ad. No. 126, 2006
Part 2D.7
Part 2D.7........................................ad. No. 42, 2011
s. 206J............................................ad. No. 42, 2011
Part 2D.8
Part 2D.8........................................ad. No. 42, 2011
s. 206K...........................................ad. No. 42, 2011
s. 206L ...........................................ad. No. 42, 2011
s. 206M..........................................ad. No. 42, 2011
Chapter 2E
Part 2E.1
s. 208 .............................................am. No. 180, 2012
Division 2
s 211 ..............................................am No 61, 2013 (md)
s. 213 .............................................rs. No. 101, 2007
Division 3
s. 219 .............................................am. No. 116, 2003
s. 220 .............................................am. No. 122, 2001
s. 225 .............................................am. No. 117, 2001
Part 2E.2
s. 228 .............................................am. No. 144, 2008
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
482 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Chapter 2F
Part 2F.1
s. 235 .............................................am. No. 117, 2001
Part 2F.2
s. 246B...........................................am. No. 117, 2001
s. 246D...........................................am. No. 117, 2001
s. 246F ...........................................am. No. 117, 2001; No. 24, 2003
s. 246G...........................................am. No. 117, 2001
Part 2F.3
s. 247C...........................................am. No. 117, 2001
Part 2F.4
Part 2F.4 ........................................ad. No. 150, 2010
s. 247E ...........................................ad. No. 150, 2010
Chapter 2G
Part 2G.2
Division 2
s 249CA.........................................am No 122, 2001
s 249D............................................am No 19, 2015
s 249E ............................................am No 117, 2001
Division 3
s. 249HA........................................am. No. 122, 2001
s. 249J............................................am. No. 103, 2004
s. 249K...........................................am. No. 117, 2001
s. 249L ...........................................am. No. 103, 2004; No. 42, 2011
s. 249LA ........................................ad. No. 103, 2004
Division 5
s. 249V...........................................am. No. 103, 2004
Division 6
s. 249X...........................................am. No. 103, 2004
s. 249Z ...........................................am. No. 117, 2001
s. 250A...........................................am. No. 117, 2001; No. 103, 2004; No. 42, 2011
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 483
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 250B...........................................am. No. 103, 2004
s. 250BA........................................am. No. 122, 2001; No. 103, 2004
s. 250BB ........................................ad. No. 42, 2011
s. 250BC ........................................ad. No. 42, 2011
s. 250BD........................................ad. No. 42, 2011
s. 250D...........................................am. No. 103, 2004
Division 7
s. 250H...........................................am. No. 42, 2011
Division 8
s 250N............................................am No 117, 2001; No 17, 2017
s. 250P ...........................................am. No. 117, 2001
s. 250PAA......................................ad. No. 132, 2007
s. 250PAB......................................ad. No. 132, 2007
s. 250PA ........................................ad. No. 103, 2004
s. 250R...........................................am. No. 103, 2004; No. 42, 2011; No. 73, 2012
s. 250RA........................................ad. No. 103, 2004
s. 250S ...........................................am. No. 117, 2001
s. 250SA ........................................ad. No. 103, 2004
s. 250T ...........................................am. No. 117, 2001; No. 103, 2004
Division 9
Division 9 ......................................ad. No. 42, 2011
s. 250U...........................................ad. No. 42, 2011
s. 250V...........................................ad. No. 42, 2011
s. 250W..........................................ad. No. 42, 2011
s. 250X...........................................ad. No. 42, 2011
s. 250Y...........................................ad. No. 42, 2011
Part 2G.3
s. 251A...........................................am. No. 117, 2001
s. 251AA........................................am. No. 122, 2001
s. 251B...........................................am. No. 117, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
484 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 2G.4
Division 1
s. 252C...........................................am. No. 117, 2001
Division 2
s. 252H...........................................am. No. 117, 2001
Division 5
s. 252X...........................................am. No. 117, 2001
s. 252Y...........................................am. No. 117, 2001
s. 252Z ...........................................am. No. 116, 2003
Division 6
s. 253F ...........................................am. No. 122, 2001
Division 7
s. 253M..........................................am. No. 117, 2001
s. 253N...........................................am. No. 117, 2001
Chapter 2H
Part 2H.1
s. 254G...........................................am. No. 116, 2003
s. 254H...........................................am. No. 117, 2001
Part 2H.2
s. 254J............................................am. No. 180, 2012
s. 254K...........................................am. No. 180, 2012
Part 2H.3
s 254N............................................am No 117, 2001; No 11, 2016
s. 254Q...........................................am. No. 117, 2001; No. 180, 2012
Part 2H.5
s. 254SA ........................................ad. No. 66, 2010
s. 254T ...........................................rs. No. 66, 2010
Part 2H.6
s. 254X...........................................am. No. 117, 2001; No. 24, 2003
s. 254Y...........................................am. No. 117, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 485
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Chapter 2J
Part 2J.1
Division 1
s. 256B...........................................am. No. 132, 2007; No. 180, 2012
s. 256C...........................................am. No. 24, 2003
s. 256D...........................................am. No. 180, 2012
s. 256E ...........................................am. No. 122, 2001
Division 2
s. 257B...........................................am. No. 122, 2001; No. 5, 2011
s. 257H...........................................am. No. 122, 2001
s. 257J............................................am. No. 122, 2001
Division 3
s. 258F ...........................................am. No. 66, 2010
Part 2J.2
s. 259A...........................................am No. 180, 2012
s. 259B...........................................am. No. 117, 2001; No. 180, 2012
s. 259D...........................................am. No. 117, 2001
Part 2J.3
s. 260A...........................................am. No. 180, 2012
Chapter 2K.....................................rep. No. 96, 2010
s. 261 .............................................rep. No. 96, 2010
s. 262 .............................................am. No. 24, 2003
rep. No. 96, 2010
s. 263 .............................................rep. No. 96, 2010
s. 264 .............................................am. No. 101, 2007
rep. No. 96, 2010
s. 265 .............................................rep. No. 96, 2010
s. 265A...........................................rep. No. 96, 2010
ss. 266–271 ....................................rep. No. 96, 2010
s. 272 .............................................am. No. 101, 2007
rep. No. 96, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
486 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 273A...........................................am. No. 116, 2003
rep. No. 96, 2010
s. 273B...........................................am. No. 116, 2003
rep. No. 96, 2010
s. 273C...........................................am. No. 116, 2003
rep. No. 96, 2010
s. 273D...........................................rep. No. 96, 2010
s. 274 .............................................am. No. 101, 2007
rep. No. 96, 2010
ss. 277–282 ....................................rep. No. 96, 2010
Chapter 2L
Part 2L.1
s. 283AA........................................am. No. 117, 2001; No. 103, 2004; No. 101, 2007; No 100, 2014
s. 283AB ........................................am. No. 117, 2001
s 283AC.........................................am No 117, 2001; No 75, 2009; No 108, 2009; No 11, 2016
Part 2L.2
s. 283BC ........................................rs. No. 108, 2009
s. 283BCA .....................................ad. No. 108, 2009
s. 283BE ........................................am. No. 96, 2010
s. 283BF.........................................am. No. 96, 2010
s. 283BG........................................rs. No. 96, 2010
s. 283BH........................................am. No. 117, 2001; No. 96, 2010
Part 2L.3
s. 283CC ........................................am. No. 96, 2010
s. 283CD........................................rs. No. 96, 2010
Part 2L.4
s. 283DA........................................am. No. 96, 2010
Chapter 2M
Part 2M.1
s. 285 .............................................am. No. 103, 2004; No. 101, 2007; No. 66, 2010
s. 285A...........................................ad. No. 66, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 487
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 2M.2
s. 286 .............................................am. No. 117, 2001
s. 287 .............................................am. No. 117, 2001
s. 288 .............................................am. No. 117, 2001
s. 289 .............................................am. No. 117, 2001
Part 2M.3
Division 1
s. 292 .............................................am. No. 66, 2010
s. 294 .............................................am. No. 117, 2001
s. 294A...........................................ad. No. 66, 2010
s. 294B...........................................ad. No. 66, 2010
s. 295 .............................................am. No. 103, 2004; No. 66, 2010
s. 295A...........................................ad. No. 103, 2004
s. 296 .............................................am. No. 66, 2010
s 298 ..............................................am No 103, 2004; No 66, 2010; No 17, 2017
s. 299A...........................................ad. No. 103, 2004
am. No. 66, 2010
s. 300 .............................................am. No. 122, 2001; No. 103, 2004; No. 72, 2012
s 300A............................................am No 55, 2001; No 122, 2001; No 103, 2004; No 101, 2007; No 42,
2011; No 19, 2015
s. 300B...........................................ad. No. 66, 2010
s 301 ..............................................am No 66, 2010; No 36, 2015; No 17, 2017
Division 2
s. 303 .............................................am. No. 103, 2004; No. 66, 2010
s. 306 .............................................am. No. 103, 2004; No. 5, 2011
Division 3
s. 307 .............................................am. No. 103, 2004
s. 307A...........................................ad. No. 103, 2004
am. No. 66, 2010
s. 307B...........................................ad. No. 103, 2004
am. No. 66, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
488 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 307C...........................................ad. No. 103, 2004
am. No. 101, 2007; No. 66, 2010
s. 308 .............................................am. No. 117, 2001; No. 103, 2004; No. 101, 2007; No. 66, 2010
s. 309 .............................................am. No. 103, 2004
s. 311 .............................................am. No. 117, 2001
rs. No. 103, 2004
am. No. 72, 2012
s. 312 .............................................am. No. 117, 2001
s. 313 .............................................am. No. 117, 2001
Division 4
s 314 ..............................................am No 117, 2001; No 103, 2004; No 101, 2007; No 66, 2010; No 5,
2011; No 17, 2017
s. 315 .............................................am. No. 101, 2007
s. 316 .............................................am. No. 117, 2001; No. 66, 2010
s. 316A...........................................ad. No. 66, 2010
s. 317 .............................................am. No. 117, 2001; No. 103, 2004; No. 66, 2010
s. 318 .............................................am. No. 117, 2001; No. 101, 2007
Division 5
s. 319 .............................................am. No. 117, 2001; No. 116, 2003; No. 101, 2007; No. 66, 2010;
No. 180, 2012
s. 320 .............................................am. No. 117, 2001
s. 321 .............................................am. No. 117, 2001
s. 322 .............................................am. No. 117, 2001
Division 6
s. 323 .............................................am. No. 117, 2001
s. 323B...........................................am. No. 117, 2001
Division 7
s 323D............................................am No 117, 2001; No 66, 2010; No 19, 2015
Division 8
s. 323DA........................................am. No. 122, 2001
Division 9 ......................................ad. No. 103, 2004
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 489
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
rep. No. 118, 2012
s. 323EA ........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EB ........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EC ........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323ED ........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EE.........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EF.........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EG ........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EH ........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EI..........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EJ..........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EK ........................................ad. No. 103, 2004
am. No. 5, 2011
rep. No. 118, 2012
s. 323EL.........................................ad. No. 103, 2004
rep. No. 118, 2012
s. 323EM........................................ad. No. 103, 2004
rep. No. 118, 2012
Part 2M.4
Division 1
Division 1 heading.........................rs. No. 103, 2004
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
490 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 324 .............................................rep. No. 103, 2004
s. 324AA........................................ad. No. 103, 2004
s. 324AB ........................................ad. No. 103, 2004
s. 324AC ........................................ad. No. 103, 2004
s. 324AD........................................ad. No. 103, 2004
s. 324AE ........................................ad. No. 103, 2004
am. No. 101, 2007
s. 324AF ........................................ad. No. 103, 2004
Division 2
Division 2 ......................................ad. No. 103, 2004
s. 324BA........................................ad. No. 103, 2004
s. 324BB ........................................ad. No. 103, 2004
am. No. 127, 2011
s. 324BC ........................................ad. No. 103, 2004
s. 324BD........................................ad. No. 103, 2004
s. 324BE ........................................ad. No. 66, 2010
am No 169, 2012
Division 3
Division 3 ......................................ad. No. 103, 2004
Subdivision A
s 324CA.........................................ad No 103, 2004
am No 101, 2007; No 17, 2017
s 324CB .........................................ad No 103, 2004
am No 101, 2007; No 17, 2017
s 324CC .........................................ad No 103, 2004
am No 101, 2007; No 17, 2017
s. 324CD........................................ad. No. 103, 2004
Subdivision B
s 324CE .........................................ad No 103, 2004
am No 101, 2007; No 17, 2017
s 324CF..........................................ad No 103, 2004
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 491
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am No 101, 2007; No 17, 2017
s 324CG.........................................ad No 103, 2004
am No 101, 2007; No 17, 2017
s. 324CH........................................ad. No. 103, 2004
am. No. 101, 2007; No. 75, 2009; No. 66, 2010
s. 324CI..........................................ad. No. 103, 2004
am. No. 101, 2007
s. 324CJ .........................................ad. No. 103, 2004
am. No. 101, 2007
s. 324CK........................................ad. No. 103, 2004
am. No. 101, 2007
Subdivision C
s. 324CL ........................................ad. No. 103, 2004
Division 4
Division 4 ......................................ad. No. 103, 2004
s. 324CM .......................................ad. No. 103, 2004
Division 5
Division 5 ......................................ad. No. 103, 2004
s. 324DA........................................ad. No. 103, 2004
am. No. 72, 2012
s. 324DAA.....................................ad. No. 72, 2012
s. 324DAB .....................................ad. No. 72, 2012
s. 324DAC .....................................ad. No. 72, 2012
s. 324DAD.....................................ad. No. 72, 2012
s. 324DB........................................ad. No. 103, 2004
s. 324DC........................................ad. No. 103, 2004
am. No. 72, 2012
s. 324DD........................................ad. No. 103, 2004
am. No. 72, 2012
Division 6
Division 6 heading.........................ad. No. 103, 2004
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
492 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision A
Subdivision A heading...................ad No 103, 2004
s 327 ..............................................rep No 103, 2004
s 327A............................................ad No 103, 2004
am No 19, 2015; No 17, 2017
s 327B............................................ad No 103, 2004
am No 101, 2007; No 19, 2015
s 327C............................................ad No 103, 2004
am No 19, 2015
s. 327D...........................................ad. No. 103, 2004
s. 327E ...........................................ad. No. 103, 2004
s. 327F ...........................................ad. No. 103, 2004
s. 327G...........................................ad. No. 103, 2004
s. 327H...........................................ad. No. 103, 2004
s. 327I ............................................ad. No. 103, 2004
s. 328 .............................................rep. No. 103, 2004
s. 328A...........................................ad. No. 103, 2004; No. 180, 2012
s. 328B...........................................ad. No. 103, 2004; No. 180, 2012
s 328C............................................ad No 17, 2017
s 328D............................................ad No 17, 2017
s 328E ............................................ad No 17, 2017
Subdivision B
Subdivision B heading ...................ad. No. 103, 2004
s. 329 .............................................am. No. 103, 2004; No. 66, 2010
s. 330 .............................................am. No. 103, 2004
Subdivision C
Subdivision C heading ...................ad. No. 103, 2004
Division 7
Division 2 heading.........................rep. No. 103, 2004
Division 7 heading.........................ad. No. 103, 2004
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 493
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision A
Subdivision A heading...................ad. No. 103, 2004
s. 331AA........................................rep. No. 103, 2004
s. 331AB ........................................rep. No. 103, 2004
s. 331AAA.....................................ad. No. 103, 2004
am. No. 101, 2007
s. 331AAB .....................................ad. No. 103, 2004
s. 331AAC .....................................ad. No. 103, 2004
s. 331AAD.....................................ad. No. 103, 2004
Subdivision B
Subdivision B heading ...................ad. No. 103, 2004
s. 331AC ........................................am. No. 103, 2004
s. 331AD........................................am. No. 103, 2004
Subdivision C
Subdivision C heading ...................ad. No. 103, 2004
Part 2M.4A
Part 2M.4A ....................................ad. No. 72, 2012
s. 332 .............................................ad. No. 72, 2012
s. 332A...........................................ad. No. 72, 2012
s. 332B...........................................ad. No. 72, 2012
s. 332C...........................................ad. No. 72, 2012
s. 332D...........................................ad. No. 72, 2012
s. 332E ...........................................ad. No. 72, 2012
s. 332F ...........................................ad. No. 72, 2012
s. 332G...........................................ad. No. 72, 2012
Part 2M.5
Part 2M.5 heading..........................rs. No. 103, 2004
s. 334 .............................................am. No. 154, 2007
s. 336 .............................................ad. No. 103, 2004
am. No. 154, 2007
s. 337 .............................................rs. No. 103, 2004
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
494 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 338 .............................................ad. No. 103, 2004
s. 339 .............................................rep. No. 103, 2004
Part 2M.6
s. 340 .............................................am. No. 103, 2004; No. 101, 2007
s. 341 .............................................am. No. 103, 2004; No. 101, 2007
s. 342 .............................................rs. No. 101, 2007
s. 342AA........................................ad. No. 101, 2007
s. 342AB ........................................ad. No. 101, 2007
s. 342AC ........................................ad. No. 101, 2007
s. 342A...........................................ad. No. 103, 2004
s. 342B...........................................ad. No. 103, 2004
Part 2M.7
s. 344 .............................................am. No. 72, 2012
Chapter 2N
Chapter 2N heading .......................rs. No. 24, 2003
Part 2N.1
Part 2N.1........................................rs. No. 24, 2003
s. 345 .............................................am. No. 117, 2001
rep. No. 24, 2003
s. 345A...........................................ad. No. 24, 2003
s. 345B...........................................ad. No. 24, 2003
s. 345C...........................................ad. No. 24, 2003
s. 346 .............................................am. No. 117, 2001
rep. No. 24, 2003
Part 2N.2
Part 2N.2 heading ..........................rep. No. 24, 2003
Part 2N.2........................................ad. No. 24, 2003
s. 346A...........................................ad. No. 24, 2003
s. 346B...........................................ad. No. 24, 2003
s. 346C...........................................ad. No. 24, 2003
s. 347 .............................................rep. No. 24, 2003
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 495
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 2N.3
Part 2N.3........................................ad. No. 24, 2003
s. 347A...........................................ad. No. 24, 2003
s. 347B...........................................ad. No. 24, 2003
s. 347C...........................................ad. No. 24, 2003
s. 348 .............................................rep. No. 24, 2003
Part 2N.4
Part 2N.4........................................ad. No. 24, 2003
s. 348A...........................................ad. No. 24, 2003
am. No. 101, 2007
s. 348B...........................................ad. No. 24, 2003
s. 348C...........................................ad. No. 24, 2003
s. 348D...........................................ad. No. 24, 2003
am. No. 103, 2004; No. 101, 2007
s. 349 .............................................rep. No. 24, 2003
Part 2N.5
Part 2N.5........................................ad. No. 24, 2003
s. 349A...........................................ad. No. 24, 2003
s. 349B...........................................ad. No. 24, 2003
s. 349C...........................................ad. No. 24, 2003
s. 349D...........................................ad. No. 24, 2003
Chapter 2P
Chapter 2P heading........................ad. No. 24, 2003
s. 350 .............................................rs. No. 122, 2001
s. 352 .............................................am. No. 24, 2003; No. 101, 2007
s. 353 .............................................ad. No. 24, 2003
s. 354 .............................................ad. No. 24, 2003
am. No. 5, 2011
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
496 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Chapter 5
Part 5.1
s 411 ..............................................am No 116, 2003; No 103, 2004; No 132, 2007; No 96, 2010; No 150,
2010; No 11, 2016; No 55, 2017
s. 412 .............................................am. No. 48, 2012
s. 413 .............................................am. No. 96, 2010
s 415A............................................ad No 11, 2016
s 415B............................................ad No 11, 2016
s 415C............................................ad No 11, 2016
Part 5.2
s. 417 .............................................am. No. 126, 2006
s 418 ..............................................am No 103, 2004; No 96, 2010; No 11, 2016
s. 418A...........................................am. No. 96, 2010
s. 419 .............................................am. No. 96, 2010
s. 419A...........................................am. No. 96, 2010; No. 35, 2011
s. 420 .............................................am. No. 96, 2010
s. 420B...........................................am. No. 96, 2010
s. 421 .............................................am. No. 132, 2007
s. 421A...........................................am. No. 132, 2007
s. 422 .............................................am. No. 103, 2004; No. 132, 2007
s 422A............................................ad No 11, 2016
s 422B............................................ad No 11, 2016
s 422C............................................ad No 11, 2016
s 422D............................................ad No 11, 2016
s. 425 .............................................am. No. 132, 2007
s 426 ..............................................am No 11, 2016
s. 427 .............................................am. No. 132, 2007; No. 96, 2010
s 428 ..............................................am No 117, 2001
s 429 ..............................................am No 96, 2010; No 11, 2016
s 432 ..............................................am No 96, 2010; No 11, 2016
s. 433 .............................................am. No. 96, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 497
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 434B...........................................am. No. 96, 2010
s. 434C...........................................am. No. 96, 2010
s. 434D...........................................ad. No. 132, 2007
s. 434E ...........................................ad. No. 132, 2007
s. 434F ...........................................ad. No. 132, 2007
s. 434G...........................................ad. No. 132, 2007
s 434H............................................ad No 11, 2016
Part 5.3A
Division 1
s 435A............................................am No 11, 2016
s. 435B...........................................am. No. 96, 2010
s 435C............................................am No 105, 2008; No 11, 2016
Division 2
s. 436A...........................................am. No. 132, 2007
s. 436B...........................................am. No. 132, 2007
s. 436C...........................................am. No. 132, 2007; No. 96, 2010
s 436DA.........................................ad No 132, 2007
am No 11, 2016
s 436E ............................................am No 132, 2007; No 48, 2012; No 11, 2016
s 436F ............................................rep No 11, 2016
s 436G............................................am No 132, 2007
rep No 11, 2016
Division 3
s. 437A...........................................ad. No. 96, 2010
s 437C............................................am No 117, 2001; No 103, 2004
rep No 11, 2016
s. 437D...........................................am. No. 103, 2004
s. 437F ...........................................rs. No. 132, 2007
Division 4
s 438B............................................am No 117, 2001; No 132, 2007; No 11, 2016
s. 438C...........................................am. No. 117, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
498 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 438D...........................................am. No. 103, 2004
s 438E ............................................ad No 132, 2007
rep No 11, 2016
Division 5
s 439A............................................am No 132, 2007; No 48, 2012; No 11, 2016
s 439B............................................am No 132, 2007
rep No 11, 2016
s 439C............................................am No 11, 2016
Division 6
s 440A............................................am No 11, 2016
s. 440B...........................................rs. No. 96, 2010
ss. 440BA, 440BB .........................ad. No. 132, 2007
rep. No. 96, 2010
s. 440C...........................................rep. No. 96, 2010
s. 440J............................................am. No. 144, 2008
s. 440JA .........................................ad. No. 132, 2007
am. No. 96, 2010
Division 7
Division 7 heading.........................rs. No. 132, 2007; No. 96, 2010
Subdivision A
Subdivision A heading...................ad. No. 96, 2010
s. 441 .............................................ad. No. 96, 2010
Subdivision B
Subdivision B heading ...................ad. No. 96, 2010
s. 441AA........................................ad. No. 96, 2010
s 441A............................................am No 132, 2007
rs No 96, 2010
am No 11, 2016
s 441B............................................am No 132, 2007; No 96, 2010; No 11, 2016
s 441C............................................rs No 96, 2010
am No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 499
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 441D...........................................am. No. 132, 2007; No. 96, 2010
s 441E ............................................am No 96, 2010; No 11, 2016
s. 441EA ........................................ad. No. 96, 2010
am. No. 35, 2011
Subdivision C
Subdivision C heading ...................ad. No. 96, 2010
s. 441EB ........................................ad. No. 96, 2010
s 441F ............................................am No 96, 2010; No 11, 2016
s 441G............................................am No 96, 2010; No 11, 2016
s 441J.............................................am No 11, 2016
s. 441JA .........................................ad. No. 132, 2007
rep. No. 96, 2010
s. 441K...........................................rep. No. 96, 2010
Division 8
s. 442B...........................................rs. No. 96, 2010
s 442C............................................am No 132, 2007; No 96, 2010; No 11, 2016
s 442CA.........................................ad No 132, 2007
am No 96, 2010
s. 442CB ........................................ad. No. 132, 2007
am. No. 96, 2010
s. 442CC ........................................ad. No. 132, 2007
am. No. 96, 2010
s. 442D...........................................am. No. 96, 2010
Division 9
Subdivision A
s. 443A...........................................am. No. 132, 2007; No. 96, 2010
s 443B............................................am No 132, 2007; No 96, 2010; No 35, 2011; No 11, 2016
s 443BA.........................................am No 123, 2001; No 101, 2006; No 79, 2010
Subdivision B
s 443D............................................am No 132, 2007; No 96, 2010; No 11, 2016
s. 443E ...........................................am. No. 132, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
500 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
rs. No. 96, 2010
s. 443F ...........................................am. No. 96, 2010
Division 10
s. 444A...........................................am. No. 132, 2007
s 444B............................................am No 132, 2007; No 11, 2016
s. 444D...........................................am. No. 132, 2007; No. 96, 2010
s. 444DA........................................ad. No. 132, 2007
s. 444DB........................................ad. No. 132, 2007
s. 444E ...........................................am. No. 96, 2010
s. 444F ...........................................am. No. 132, 2007; No. 96, 2010
s. 444GA........................................ad. No. 132, 2007
s. 444J............................................ad. No. 132, 2007
Division 11
s 445A............................................am No 11, 2016
s 445C............................................am No 132, 2007; No 11, 2016
s. 445CA........................................ad. No. 132, 2007
s 445D............................................am No 132, 2007; No 11, 2016
s 445E ............................................am No 11, 2016
s 445F ............................................am No 132, 2007
rep No 11, 2016
s. 445FA ........................................ad. No. 132, 2007
Division 11AA
Division 11AA...............................ad No 11, 2016
s 445HA.........................................ad No 11, 2016
Division 11A..................................ad No 132, 2007
rep No 11, 2016
s 445J.............................................ad No 132, 2007
rep No 11, 2016
Division 12
s 446A............................................am No 132, 2007; No 48, 2012; No 11, 2016
s 446AA.........................................ad No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 501
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 446B............................................am No 11, 2016
s. 446C...........................................ad. No. 132, 2007
am. No. 96, 2010
Division 13
s 447D............................................rep No 11, 2016
s 448E ............................................rep No 11, 2016
Division 14
s. 448B...........................................am. No. 117, 2001
s. 448C...........................................am. No. 117, 2001; No. 103, 2004; No. 132, 2007; No. 75, 2009;
No. 96, 2010
s 448D............................................rep No 11, 2016
Division 15
Division 15 heading .......................rs No 11, 2016
s 449B............................................am No 132, 2007
rep No 11, 2016
s 449C............................................am No 132, 2007; No 96, 2010; No 48, 2012; No 11, 2016
s 449CA.........................................ad No 132, 2007
am No 11, 2016
s 449D............................................rep No 11, 2016
s 449E ............................................am No 132, 2007
rep No 11, 2016
Division 16
s. 450A...........................................am. No. 132, 2007; No. 96, 2010; No. 48, 2012
s 450B............................................am No 132, 2007; No 11, 2016
s. 450C...........................................am. No. 132, 2007
s. 450D...........................................am. No. 132, 2007
s. 450E ...........................................am. No. 117, 2001; No. 132, 2007
Part 5.4
Division 1
s. 459C...........................................am. No. 96, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
502 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 2
s. 459E ...........................................am. No. 123, 2001; No. 101, 2006
Part 5.4A
s. 461 .............................................am. No. 105, 2008
s. 462 .............................................am. No. 119, 2001; No. 105, 2008
Part 5.4B
Division 1A
Division 1A....................................ad. No. 96, 2010
s. 465 .............................................ad. No. 96, 2010
Division 1
s 465A............................................am No 48, 2012; No 11, 2016
s. 466 .............................................am. No. 103, 2004
s. 467 .............................................am. No. 96, 2010
s. 468 .............................................am. No. 132, 2007
s. 468A...........................................ad. No. 132, 2007
Division 1A
s 471A............................................am No 117, 2001; No 103, 2004
rep No 11, 2016
s 471C............................................am No 96, 2010; No 11, 2016
Division 2
s 472 ..............................................am No 11, 2016
s 473 ..............................................am No 132, 2007
rs No 11, 2016
s 473A............................................ad No 11, 2016
s. 474 .............................................am. No. 96, 2010
s 475 ..............................................am No 117, 2001; No 11, 2016
s 476 ..............................................rep No 11, 2016
s 477 ..............................................am No 132, 2007; No 96, 2010; No 11, 2016
s 479 ..............................................rep No 11, 2016
s 481 ..............................................am No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 503
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 3
Subdivision A
Subdivision A heading...................ad. No. 132, 2007
s 482 ..............................................am No 132, 2007; No 75, 2009; No 11, 2016
s. 483 .............................................am. No. 103, 2004; No. 96, 2010
s. 486A...........................................am. No. 117, 2001; No. 103, 2004; No. 132, 2007
s. 486B...........................................ad. No. 132, 2007
s 488 ..............................................am No 11, 2016
Subdivision B
Subdivision B ................................ad. No. 132, 2007
s. 489A...........................................ad. No. 132, 2007
s. 489B...........................................ad. No. 132, 2007
s. 489C...........................................ad. No. 132, 2007
s 489D............................................ad No 132, 2007
am No 11, 2016
s. 489E ...........................................ad. No. 132, 2007
Part 5.4C
Part 5.4C........................................ad. No. 48, 2012
s. 489EA ........................................ad. No. 48, 2012
s. 489EB ........................................ad. No. 48, 2012
s 489EC .........................................ad No 48, 2012
am No 11, 2016
Part 5.5
Division 1A
Division 1A....................................ad. No. 96, 2010
s. 489F ...........................................ad. No. 96, 2010
Division 1
s. 490 .............................................am. No. 108, 2009
s 491 ..............................................am No 48, 2012; No 11, 2016
s. 493 .............................................am. No. 132, 2007
s. 493A...........................................ad. No. 132, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
504 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 2
s 495 ..............................................am No 132, 2007
rs No 11, 2016
s 496 ..............................................am No 117, 2001; No 132, 2007; No 11, 2016
Division 3
s 497 ..............................................am No 117, 2001; No 132, 2007; No 48, 2012
rs No 11, 2016
s 498 ..............................................am No 48, 2012
rep No 11, 2016
s 499 ..............................................am No 132, 2007; No 11, 2016
s. 500 .............................................am. No. 103, 2004; No. 96, 2010
Division 4
s 502 ..............................................rep No 11, 2016
s 503 ..............................................rep No 11, 2016
s 504 ..............................................am No 132, 2007
rep No 11, 2016
s 505 ..............................................am No 96, 2010
rep No 11, 2016
s 506 ..............................................am No 132, 2007; No 11, 2016
s 506A............................................ad No 132, 2007
rs No 11, 2016
am No 11, 2016
s 508 ..............................................am No 132, 2007
rep No 11, 2016
s 509 ..............................................am No 48, 2012
rs No 11, 2016
s 510 ..............................................am No 96, 2010
s 511 ..............................................rep No 11, 2016
s 512 ..............................................rep No 132, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 505
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 5.6
Division 1
s. 513AA........................................ad. No. 96, 2010
Division 1A
s 513B............................................am No 11, 2016
Division 3
s. 530 .............................................ad. No. 132, 2007
s. 530AA........................................ad. No. 132, 2007
s. 530A...........................................am. No. 117, 2001; No. 103, 2004
s. 530B...........................................am. No. 117, 2001
s 531 ..............................................rep No 11, 2016
s 532 ..............................................am No 117, 2001; No 103, 2004; No 75, 2009; No 96, 2010; No 11,
2016
s. 533 .............................................am. No. 103, 2004; No. 132, 2007
s. 534 .............................................am. No. 96, 2010
s 536 ..............................................rep No 11, 2016
s 538 ..............................................am No 132, 2007
rep No 11, 2016
s 539 ..............................................am No 132, 2007
rep No 11, 2016
s 540 ..............................................rep No 11, 2016
Division 4
s 541 ..............................................am No 117, 2001
s 542 ..............................................rep No 11, 2016
s 546 ..............................................rep No 11, 2016
s 547 ..............................................rep No 11, 2016
Division 5 ......................................rep No 11, 2016
s 548 ..............................................am No 132, 2007
rep No 11, 2016
s 548A............................................ad No 132, 2007
rep No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
506 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 549 ..............................................am No 132, 2007
rep No 11, 2016
s 550 ..............................................am No 132, 2007
rep No 11, 2016
s 551 ..............................................rep No 11, 2016
s 552 ..............................................rep No 11, 2016
Division 6
Subdivision A
s 553 ..............................................am No 132, 2007; No 11, 2016
s. 553AB ........................................ad. No. 132, 2007
am. No. 99, 2012
s. 553E ...........................................am. No. 96, 2010
Subdivision C
s. 554E ...........................................am. No. 96, 2010
s. 554F ...........................................am. No. 96, 2010
s. 554G...........................................am. No. 96, 2010
s. 554J............................................am. No. 96, 2010
Subdivision D
s 556 ..............................................am No 132, 2007; No 144, 2008; No 99, 2012; No 61, 2013; No 11,
2016
s. 560 .............................................rs. No. 132, 2007
s. 561 .............................................am. No. 96, 2010
s. 563A...........................................rs. No. 150, 2010
Subdivision E
s. 563B...........................................am. No. 150, 2010
Division 7
s. 565 .............................................am. No. 132, 2007
Division 7A
s. 568 .............................................am. No. 96, 2010
s. 568A...........................................am. No. 132, 2007; No. 48, 2012
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 507
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 8
Division 8 ......................................ad. No. 132, 2007
Subdivision A
s. 571 .............................................ad. No. 132, 2007
am. No. 96, 2010
s. 572 .............................................ad. No. 132, 2007
s. 573 .............................................ad. No. 132, 2007
s 574 ..............................................ad No 132, 2007
rep No 11, 2016
s 575 ..............................................ad No 132, 2007
rep No 11, 2016
s 576 ..............................................ad No 132, 2007
rep No 11, 2016
s 577 ..............................................ad No 132, 2007
am No 11, 2016
s 578 ..............................................ad No 132, 2007
am No 11, 2016
s 579 ..............................................ad No 132, 2007
am No 11, 2016
s 579A............................................ad No 132, 2007
am No 11, 2016
s 579B............................................ad No 132, 2007
am No 11, 2016
s 579C............................................ad No 132, 2007
am No 11, 2016
s. 579D...........................................ad. No. 132, 2007
Subdivision B
s. 579E ...........................................ad. No. 132, 2007
am. No. 96, 2010
s. 579F ...........................................ad. No. 132, 2007
s. 579G...........................................ad. No. 132, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
508 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 579H...........................................ad. No. 132, 2007
s. 579J............................................ad. No. 132, 2007
am. No. 5, 2011
s. 579K...........................................ad. No. 132, 2007
am. No. 5, 2011
s 579L............................................ad No 132, 2007
am No 11, 2016
Subdivision C
s. 579M..........................................ad. No. 132, 2007
s. 579N...........................................ad. No. 132, 2007
s. 579P ...........................................ad. No. 132, 2007
s. 579Q...........................................ad. No. 132, 2007
Part 5.7
s. 585 .............................................am. No. 103, 2004
s. 588 .............................................am. No. 74, 2007; No. 96, 2010
Part 5.7B
Division 1
s. 588C...........................................ad. No. 96, 2010
s. 588E ...........................................am. No. 96, 2010
s. 588F ...........................................am. No. 123, 2001; No. 101, 2006
Division 2
s. 588FDA......................................ad. No. 25, 2003
s. 588FE.........................................am. No. 25, 2003; No. 132, 2007
s. 588FF .........................................am. No. 25, 2003; No. 132, 2007
s. 588FG ........................................am. No. 25, 2003
s 588FGA.......................................am No 123, 2001; No 101, 2006; No 99, 2012; No 11, 2016
s. 588FJ..........................................am. No. 96, 2010
Division 2A
Division 2A....................................ad. No. 96, 2010
s. 588FK ........................................ad. No. 96, 2010
s. 588FL.........................................ad. No. 96, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 509
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am. No. 35, 2011
s. 588FM........................................ad. No. 96, 2010
am. No. 35, 2011
s. 588FN ........................................ad. No. 96, 2010
am. No. 35, 2011
s. 588FO ........................................ad. No. 96, 2010
Division 2B
Division 2B....................................ad. No. 96, 2010
s. 588FP .........................................ad. No. 96, 2010
Division 3
s. 588G...........................................am. No. 117, 2001
Part 5.8
s. 589 .............................................am. No. 96, 2010; No. 48, 2012
s. 590 .............................................am. No. 117, 2001; No. 103, 2004
s. 592 .............................................am. No. 117, 2001
s. 593 .............................................am. No. 96, 2010
s. 595 .............................................am. No. 117, 2001; No. 132, 2007
s. 596 .............................................am. No. 117, 2001; No. 103, 2004; No. 96, 2010
Part 5.8A
s 596AA.........................................am No 61, 2013
Part 5.9
Division 1
s. 596A...........................................am. No. 103, 2004
s. 597 .............................................am. No. 117, 2001
s. 597A...........................................am. No. 117, 2001; No. 132, 2007
Division 3
s 599 ..............................................ad No 11, 2016
s 600AA.........................................ad No 48, 2012
s 600A............................................rep No 11, 2016
s 600B............................................rep No 11, 2016
s 600C............................................rep No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
510 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 600D............................................rep No 11, 2016
s 600E ............................................rep No 11, 2016
s 600G............................................ad No 132, 2007
am No 11, 2016
s 600H............................................ad No 150, 2010
s 600J.............................................ad No 11, 2016
Division 4
Division 4 ......................................ad No 11, 2016
s 600K............................................ad No 11, 2016
Chapter 5A
Part 5A.1
s. 601 .............................................ad. No. 96, 2010
s. 601AA........................................am. No. 48, 2012
s 601AB.........................................am No 24, 2003; No 48, 2012; No 45, 2017
s 601AC.........................................am No 11, 2016
s 601AD.........................................am No 117, 2001; No 74, 2007; No 11, 2016
s. 601AE ........................................am. No. 74, 2007; No. 96, 2010; No 36, 2015
s. 601AF ........................................am. No. 74, 2007
s 601AH.........................................am No 74, 2007; No 48, 2012; No 45, 2017
Part 5A.2
s. 601AI .........................................am. No. 126, 2006
s. 601AJ .........................................am. No. 126, 2006
s. 601AK........................................am. No. 126, 2006
s. 601AL ........................................am. No. 126, 2006
Chapter 5B
Part 5B.1
Division 1
s 601BC .........................................am No 117, 2001; No 24, 2003; No 96, 2010; No 11, 2016
s. 601BH........................................am. No. 117, 2001
s. 601BJ .........................................am. No. 117, 2001
s. 601BK........................................am. No. 117, 2001; No. 96, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 511
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 2
s. 601BM .......................................am. No. 96, 2010
s. 601BP.........................................am. No. 117, 2001
s. 601BR ........................................am. No. 117, 2001
Part 5B.2
Division 1A
Division 1A....................................ad. No. 96, 2010
s. 601C...........................................ad. No. 96, 2010
Division 1
s. 601CB ........................................am. No. 96, 2010
Division 2
s. 601CDA .....................................ad. No. 85, 2007
s. 601CE ........................................am. No. 96, 2010
Division 3
s. 601CTA......................................ad. No. 85, 2007
s. 601CW .......................................am. No. 117, 2001
Division 4
s. 601CZB......................................am. No. 117, 2001
s. 601CZC......................................am. No. 117, 2001
Part 5B.3
s. 601DC........................................am. No. 127, 2011
s. 601DD........................................am. No. 117, 2001; No. 127, 2011
s. 601DE ........................................am. No. 117, 2001; No. 24, 2003
s. 601DH........................................am. No. 117, 2001
Chapter 5C
Part 5C.1
s. 601EC ........................................rs. No. 24, 2003
s. 601ED ........................................am. Nos. 55 and 122, 2001
Part 5C.2
Division 1
s. 601FA ........................................am. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
512 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 601FC.........................................am. Nos. 55 and 117, 2001; No. 101, 2007; No. 180, 2012
s. 601FD ........................................am. Nos. 55, 117 and 122, 2001
s. 601FE.........................................am. No. 55, 2001
s. 601FF .........................................am. No. 117, 2001
s. 601FG ........................................am. No. 55, 2001
Part 5C.4
s. 601HD........................................am. No. 117, 2001
s. 601HG........................................am. No. 117, 2001; No. 103, 2004; No. 101, 2007; No. 72, 2012
Part 5C.5
s. 601JA .........................................am. No. 117, 2001; No. 103, 2004; No. 144, 2008
s. 601JB .........................................am. No. 117, 2001; No. 103, 2004; No. 144, 2008
s. 601JD .........................................am. Nos. 55 and 117, 2001
Part 5C.6
s. 601KA........................................am. No. 117, 2001
Part 5C.8
s. 601MB .......................................am. No. 122, 2001
Part 5C.10
s. 601PA ........................................am. No. 122, 2001
s. 601PB.........................................am. No. 24, 2003
Chapter 5D
Chapter 5D.....................................ad. No. 108, 2009
Part 5D.1
s. 601RAA .....................................ad. No. 108, 2009
s. 601RAB .....................................ad. No. 108, 2009
am. No. 24, 2011
s. 601RAC .....................................ad. No. 108, 2009
s. 601RAD .....................................ad. No. 108, 2009
s. 601RAE......................................ad. No. 108, 2009
Part 5D.2
Division 1
s. 601SAA......................................ad. No. 108, 2009
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 513
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 601SAB......................................ad. No. 108, 2009
s. 601SAC......................................ad. No. 108, 2009
Division 2
s. 601SBA......................................ad. No. 108, 2009
s. 601SBB ......................................ad. No. 108, 2009
s. 601SBC ......................................ad. No. 108, 2009
Division 3
s. 601SCA......................................ad. No. 108, 2009
am. No. 24, 2011
s. 601SCAA...................................ad. No. 24, 2011
s. 601SCB ......................................ad. No. 108, 2009
s. 601SCC ......................................ad. No. 108, 2009
s. 601SCD......................................ad. No. 24, 2011
Part 5D.3
Division 1
s. 601TAA .....................................ad. No. 108, 2009
am No. 171, 2012
s. 601TAB......................................ad. No. 108, 2009
am. No. 24, 2011
Division 2
s. 601TBA......................................ad. No. 108, 2009
s. 601TBB......................................ad. No. 108, 2009
s. 601TBC......................................ad. No. 108, 2009
s. 601TBD......................................ad. No. 108, 2009
s. 601TBE......................................ad. No. 108, 2009
am. No. 24, 2011
Division 3
s. 601TCA......................................ad. No. 108, 2009
s. 601TCB......................................ad. No. 24, 2011
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
514 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 4
Subdivision A
s. 601TDA .....................................ad. No. 108, 2009
s. 601TDB......................................ad. No. 108, 2009
s. 601TDC......................................ad. No. 108, 2009
s. 601TDD .....................................ad. No. 108, 2009
s. 601TDE......................................ad. No. 108, 2009
s. 601TDF ......................................ad. No. 108, 2009
Subdivision B
s. 601TDG .....................................ad. No. 108, 2009
s. 601TDH .....................................ad. No. 108, 2009
s. 601TDI.......................................ad. No. 108, 2009
s. 601TDJ.......................................ad. No. 108, 2009
Division 5
s. 601TEA......................................ad. No. 108, 2009
s. 601TEB ......................................ad. No. 108, 2009
Part 5D.4
s. 601UAA.....................................ad. No. 108, 2009
s. 601UAB .....................................ad. No. 108, 2009
Part 5D.5
Division 1
s. 601VAA.....................................ad. No. 108, 2009
s. 601VAB .....................................ad. No. 108, 2009
s. 601VAC .....................................ad. No. 108, 2009
s. 601VAD.....................................ad. No. 108, 2009
Division 2
s. 601VBA .....................................ad. No. 108, 2009
s. 601VBB .....................................ad. No. 108, 2009
s. 601VBC .....................................ad. No. 108, 2009
s. 601VBD .....................................ad. No. 108, 2009
s. 601VBE......................................ad. No. 108, 2009
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 515
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 601VBF......................................ad. No. 108, 2009
s. 601VBG .....................................ad. No. 108, 2009
s. 601VBH .....................................ad. No. 108, 2009
s. 601VBI.......................................ad. No. 108, 2009
Division 3
s. 601VCA .....................................ad. No. 108, 2009
s. 601VCB .....................................ad. No. 108, 2009
s. 601VCC .....................................ad. No. 108, 2009
Part 5D.6
Part 5D.6 heading ..........................rs. No. 24, 2011
Division 1
s. 601WAA ....................................ad. No. 108, 2009
am. No. 24, 2011
Division 2
s. 601WBA ....................................ad. No. 108, 2009
am. No. 24, 2011
s. 601WBB.....................................ad. No. 108, 2009
s. 601WBC.....................................ad. No. 108, 2009
s. 601WBD ....................................ad. No. 108, 2009
s. 601WBE.....................................ad. No. 108, 2009
am. No. 24, 2011
s. 601WBF.....................................ad. No. 108, 2009
am. No. 24, 2011
s. 601WBG ....................................ad. No. 108, 2009
am. No. 24, 2011
s. 601WBH ....................................ad. No. 108, 2009
s. 601WBI......................................ad. No. 108, 2009
am. No. 24, 2011
s. 601WBJ......................................ad. No. 108, 2009
s. 601WBK ....................................ad. No. 108, 2009
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
516 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 3
s. 601WCA ....................................ad. No. 108, 2009
s. 601WCB.....................................ad. No. 108, 2009
s. 601WCC.....................................ad. No. 108, 2009
s. 601WCD ....................................ad. No. 108, 2009
s. 601WCE.....................................ad. No. 108, 2009
s. 601WCF.....................................ad. No. 108, 2009
s. 601WCG ....................................ad. No. 108, 2009
s. 601WCH ....................................ad. No. 108, 2009
Division 4
s. 601WDA ....................................ad. No. 108, 2009
am. No. 24, 2011
Part 5D.7
Part 5D.7 heading ..........................rs. No. 24, 2011
s. 601XAA.....................................ad. No. 108, 2009
s. 601XAB .....................................ad. No. 24, 2011
Part 5D.8
s. 601YAA.....................................ad. No. 108, 2009
s. 601YAB .....................................ad. No. 108, 2009
Chapter 6
s. 602A...........................................ad. No. 64, 2007
Part 6.1
s. 606 .............................................am. No. 117, 2001
s. 609 .............................................am. No. 122, 2001; No. 96, 2010
s. 610 .............................................am. No. 122, 2001
Part 6.2
s 611 ..............................................am No 122, 2001; No 96, 2010; No 17, 2017
Part 6.4
Division 1
s. 618 .............................................am. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 517
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 2
s. 621 .............................................am. No. 122, 2001
s. 622 .............................................am. No. 117, 2001
s. 623 .............................................am. No. 117, 2001
Division 3
s. 624 .............................................am. No. 117, 2001
Division 4
s. 625 .............................................am. No. 122, 2001
s. 628 .............................................am. No. 103, 2004
s. 629 .............................................am. No. 122, 2001
s. 630 .............................................am. Nos. 117 and 122, 2001
Part 6.5
Division 1
s. 631 .............................................am. No. 117, 2001
s. 632 .............................................am. No. 122, 2001
s. 633 .............................................am. Nos. 117 and 122, 2001
s. 634 .............................................am. No. 122, 2001
s. 635 .............................................am. Nos. 117 and 122, 2001; No. 5, 2011
Division 2
s. 636 .............................................am. Nos. 117 and 122, 2001; No 100, 2014
s. 637 .............................................am. No. 117, 2001
Division 3
s. 638 .............................................am. No. 117, 2001
s. 639 .............................................am. No. 117, 2001
s. 640 .............................................am. No. 117, 2001
s. 641 .............................................am. No. 117, 2001
Division 4
s. 643 .............................................am. No. 117, 2001
s. 644 .............................................am. No. 117, 2001
s. 647 .............................................am. Nos. 117 and 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
518 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 5
Subdivision A
s. 648A...........................................am. No. 117, 2001
Subdivision C
s. 648E ...........................................am. Nos. 117 and 122, 2001
s. 648G...........................................am. No. 117, 2001
s. 648H...........................................am. No. 122, 2001
Subdivision D ................................ad No 122, 2001
rep No 101, 2007
ss. 648J– 648N...............................ad. No. 122, 2001
rep. No. 101, 2007
ss. 648P–648U...............................ad. No. 122, 2001
rep. No. 101, 2007
Part 6.6
Division 1
s. 649B...........................................am. No. 122, 2001
s. 649C...........................................am. Nos. 117 and 122, 2001
Division 2
s. 650B...........................................am. Nos. 117 and 122, 2001
s. 650E ...........................................am. Nos. 117 and 122, 2001
s. 650F ...........................................am. Nos. 117 and 122, 2001
Division 3
s. 651A...........................................am. No. 117, 2001
s. 651C...........................................am. No. 117, 2001
Part 6.7
s. 652C...........................................am. Nos. 117 and 122, 2001; No. 96, 2010
Part 6.8
s. 653A...........................................am. No. 122, 2001
s. 653B...........................................am. No. 122, 2001
Part 6.9
s. 654A...........................................am. No. 117, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 519
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 654C...........................................am. No. 117, 2001
Part 6.10
Division 2
Division 2 heading.........................rs. No. 122, 2001
Subdivision B
s. 657A...........................................am. No. 64, 2007
s. 657D...........................................am. No. 64, 2007
s. 657EA ........................................am. No. 64, 2007
s. 657F ...........................................am. No. 117, 2001
Chapter 6A
Part 6A.1
Division 1
s. 661B...........................................am. Nos. 117 and 122, 2001
s. 661C...........................................am. No. 122, 2001
s. 661D...........................................am. No. 117, 2001
Division 2
s. 662A...........................................am. No. 117, 2001
s. 662B...........................................am. No. 122, 2001
Division 3
s. 663A...........................................am. No. 117, 2001
s. 663B...........................................am. No. 122, 2001
Part 6A.2
Division 1
s. 664B...........................................am. No. 122, 2001
s. 664C...........................................am. No. 122, 2001
s. 664D...........................................am. No. 117, 2001
s. 664E ...........................................am. Nos. 117 and 122, 2001
Division 2
s. 665A...........................................am. No. 117, 2001
s. 665B...........................................am. No. 122, 2001
Division 3 ......................................rep. No. 101, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
520 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
ss. 665D, 665E...............................am. No. 117, 2001
rep. No. 101, 2007
Part 6A.3
s. 666A...........................................am. No. 117, 2001
s. 666B...........................................am. No. 117, 2001
Part 6A.4
s. 667A...........................................am. No. 117, 2001
Part 6A.5
s. 668A...........................................am. No. 117, 2001
s. 668B...........................................am. No. 117, 2001
Chapter 6B
s. 670A...........................................am. No. 5, 2011
s. 670B...........................................am. No. 5, 2011
s. 670C...........................................am. Nos. 117 and 122, 2001
Chapter 6C
Part 6C.1
s. 671B...........................................am. Nos. 117 and 122, 2001
Part 6C.2
s. 672B...........................................am. No. 117, 2001
s. 672DA........................................ad. No. 103, 2004
Chapter 6CA
Chapter 6CA..................................ad. No. 122, 2001
s. 674 .............................................ad. No. 122, 2001
am. No. 103, 2004
s. 675 .............................................ad. No. 122, 2001
am. No. 103, 2004; No. 85, 2007; No. 101, 2007
s. 676 .............................................ad. No. 122, 2001
s. 677 .............................................ad. No. 122, 2001
s. 678 .............................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 521
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Chapter 6D
Part 6D.1
s. 700 .............................................am. No. 122, 2001; No. 101, 2007; No. 155, 2012; No 100, 2014
s. 701 .............................................rep. No. 122, 2001
s. 703A...........................................ad. No. 122, 2001
Part 6D.2
Part 6D.2 heading ..........................rs No 17, 2017
Division 1
s 703B............................................ad No 17, 2017
s 704 ..............................................am No 103, 2004; No 101, 2007; No 17, 2017
s. 705 .............................................am. No. 101, 2007; No 100, 2014
Division 2
s 706 ..............................................am No 101, 2007; No 17, 2017
s. 707 .............................................am. No. 122, 2001; No. 103, 2004
s 708 ..............................................am No 122, 2001; No 103, 2004; No 101, 2007; No 132, 2007; No 75,
2009; No 100, 2014; No 11, 2016
s. 708AA........................................ad. No. 101, 2007
s. 708A...........................................ad. No. 103, 2004
am. No. 101, 2007
Division 3
s 709 ..............................................am. No 101, 2007; No 100, 2014
Division 4
s. 710 .............................................am. No. 122, 2001; No 100, 2014
s. 711 .............................................am. No. 122, 2001; No 100, 2014
s 712 ..............................................am No 100, 2014
s 713 ..............................................am No 122, 2001; No 103, 2004; No 101, 2007; No 100, 2014
s 713A............................................ad No 100, 2014
s 713B............................................ad No 100, 2014
s 713C............................................ad No 100, 2014
s 713D............................................ad No 100, 2014
s 713E ............................................ad No 100, 2014
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
522 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 715A...........................................ad. No. 103, 2004
s 716 ..............................................am No 100, 2014
Division 5
s 717 ..............................................am No 100, 2014
s 718 ..............................................am No 100, 2014
s 719 ..............................................am No 103, 2004; No 100, 2014
s 719A............................................ad No 100, 2014
s 720 ..............................................am No 122, 2001; No 100, 2014
s. 721 .............................................am. No. 117, 2001
s. 722 .............................................am. No. 117, 2001
s. 723 .............................................am. Nos. 117 and 122, 2001
s 724 ..............................................am No 117 and 122, 2001; No 100, 2014
s. 725 .............................................am. No. 117, 2001
Part 6D.3
Part 6D.3 heading ..........................rs No 17, 2017
Division 1A
Division 1A....................................ad No 17, 2017
s 725A............................................ad No 17, 2017
Division 1
s. 726 .............................................rs. No. 122, 2001
s 727 ..............................................am No 103, 2004; No 101, 2007; No 100, 2014
s 728 ..............................................am No 5, 2011; No 100, 2014
s 729 ..............................................am No 5, 2011; No 100, 2014
s 730 ..............................................am No 117, 2001; No 100, 2014
s 734 ..............................................am No 117, 2001; No 122, 2001; No 85, 2007; No 101, 2007; No 17,
2017
s. 735 .............................................am. No. 117, 2001
s. 736 .............................................am. No. 117, 2001; No. 101, 2007
Part 6D.3A
Part 6D.3A.....................................ad No 17, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 523
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 1
s 738A............................................ad No 17, 2017
s 738B............................................ad No 17, 2017
s 738C............................................ad No 17, 2017
s 738D............................................ad No 17, 2017
s 738E ............................................ad No 17, 2017
s 738F ............................................ad No 17, 2017
Division 2
s 738G............................................ad No 17, 2017
s 738H............................................ad No 17, 2017
Division 3
s 738J.............................................ad No 17, 2017
s 738K............................................ad No 17, 2017
s 738L............................................ad No 17, 2017
s 738M...........................................ad No 17, 2017
s 738N............................................ad No 17, 2017
s 738P ............................................ad No 17, 2017
s 738Q............................................ad No 17, 2017
s 738R............................................ad No 17, 2017
s 738S ............................................ad No 17, 2017
s 738T............................................ad No 17, 2017
Division 4
s 738U............................................ad No 17, 2017
s 738V............................................ad No 17, 2017
s 738W...........................................ad No 17, 2017
s 738X............................................ad No 17, 2017
s 738Y............................................ad No 17, 2017
s 738Z............................................ad No 17, 2017
Division 5
s 738ZA .........................................ad No 17, 2017
s 738ZB .........................................ad No 17, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
524 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 6
s 738ZC .........................................ad No 17, 2017
s 738ZD .........................................ad No 17, 2017
s 738ZE..........................................ad No 17, 2017
Division 7
s 738ZF..........................................ad No 17, 2017
s 738ZG .........................................ad No 17, 2017
s 738ZH .........................................ad No 17, 2017
s 738ZI...........................................ad No 17, 2017
s 738ZJ...........................................ad No 17, 2017
Part 6D.4
s 739 ..............................................am No 103, 2004; No 101, 2007; No 17, 2017
s 740 ..............................................am No 17, 2017
Part 6D.5
Part 6D.5........................................ad. No. 122, 2001
s. 742 .............................................ad. No. 122, 2001
Chapter 7
Chapter 7 .......................................rs. No. 122, 2001
Part 7.1
s. 760 .............................................rep. No. 122, 2001
Division 1
s. 760A...........................................ad. No. 122, 2001
s. 760B...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 108, 2009; No. 26, 2010; Nos. 67 and 178,
2012
s. 761 .............................................rep. No. 122, 2001
Division 2
s 761A............................................ad No 122, 2001
am No 141, 2003; No 101, 2007; No 45, 2008; No 108, 2009; No 26,
2010; No 131, 2010; No 155, 2012; No 171, 2012; No 178, 2012;
No 100, 2014; No 70, 2015; No 17, 2017; No 25, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 525
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 761B...........................................ad. No. 122, 2001
s. 761C...........................................ad. No. 122, 2001
s. 761CA........................................ad. No. 122, 2001
s. 761D...........................................ad. No. 122, 2001
s 761E ............................................ad No 122, 2001
am No 141, 2003; No 45, 2008; No 108, 2009; No 70, 2015
s. 761EA ........................................ad. No. 108, 2009
s. 761F ...........................................ad. No. 122, 2001
s. 761FA ........................................ad. No. 122, 2001
s 761G............................................ad No 122, 2001
am No 101, 2007; No 108, 2009; No 17, 2017
s 761GA.........................................ad No 101, 2007
am No 108, 2009; No 17, 2017
s. 761H...........................................ad. No. 122, 2001
s. 762 .............................................rep. No. 122, 2001
Division 3
Subdivision A
s. 762A...........................................ad. No. 122, 2001
s. 762B...........................................ad. No. 122, 2001
s. 762C...........................................ad. No. 122, 2001
s. 763 .............................................rep. No. 122, 2001
Subdivision B
s. 763A...........................................ad. No. 122, 2001
s. 763B...........................................ad. No. 122, 2001
s. 763C...........................................ad. No. 122, 2001
s. 763D...........................................ad. No. 122, 2001
s. 763E ...........................................ad. No. 122, 2001
s. 764 .............................................rep. No. 122, 2001
Subdivision C
s 764A............................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
526 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am No 141, 2003; No 45, 2008; No 54, 2009; No 108, 2009; No 102,
2011; No 132, 2011; No 83, 2014; No 70, 2015
s. 765 .............................................rep. No. 122, 2001
Subdivision D
s. 765A...........................................ad. No. 122, 2001
am. No. 32, 2007; No. 54, 2008; Nos. 54 and 108, 2009; No. 178, 2012
s. 766 .............................................rep. No. 122, 2001
Division 4
s 766A............................................ad No 122, 2001
am No 108, 2009; No 17, 2017
s. 766B...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 170, 2006; No. 114, 2009
s 766C............................................ad No 122, 2001
am No 141, 2003; No 17, 2017
s. 766D...........................................ad. No. 122, 2001
s 766E ............................................rs. No. 122, 2001
am No 141, 2003; No 45, 2008; No 70, 2015
s 766F ............................................rep No 122, 2001
ad No 17, 2017
s 766G............................................rep No 122, 2001
s 766H............................................rep No 122, 2001
s 766I .............................................rep No 122, 2001
Division 3 ......................................ad. No. 55, 2001
rep. No. 122, 2001
s. 766J............................................ad. No. 55, 2001
rep. No. 122, 2001
s. 767 .............................................rep. No. 122, 2001
Division 5
s. 767A...........................................ad. No. 122, 2001
Division 6
s. 768A...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 527
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 769 .............................................rep. No. 122, 2001
Division 7
s. 769A...........................................rs. Nos. 122 and 146, 2001
s. 769B...........................................rs. No. 122, 2001
am. No. 68, 2012
s. 769C...........................................rs. No. 122, 2001
s. 769D...........................................rep. No. 122, 2001
s. 770 .............................................rep. No. 122, 2001
ss. 770A–770C...............................rep. No. 122, 2001
ss. 771, 772 ....................................rep. No. 122, 2001
ss. 772A, 772B...............................rep. No. 122, 2001
ss. 773–779 ....................................rep. No. 122, 2001
s 779A–779H.................................rep. No. 122, 2001
s. 779J............................................rep. No. 122, 2001
ss. 780–790 ....................................rep. No. 122, 2001
Part 7.2
Division 1
s. 790A...........................................ad. No. 122, 2001
s. 791 .............................................rep. No. 122, 2001
Division 2
s. 791A...........................................ad. No. 122, 2001
s. 791B...........................................ad. No. 122, 2001
s 791C............................................ad No 122, 2001
rs No 17, 2017
s. 791D...........................................ad. No. 122, 2001
s. 792 .............................................rep. No. 122, 2001
Division 3
Subdivision A
s. 792A...........................................ad. No. 122, 2001
am. No. 26, 2010
s. 792B...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
528 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am. No. 103, 2004
s. 792C...........................................ad. No. 122, 2001
s. 792D...........................................ad. No. 122, 2001
s. 792E ...........................................ad. No. 122, 2001
s. 792F ...........................................ad. No. 122, 2001
s. 792G...........................................ad. No. 122, 2001
s. 792H...........................................ad. No. 122, 2001
s. 792I ............................................ad. No. 122, 2001
s. 793 .............................................rep. No. 122, 2001
Subdivision B
s. 793A...........................................ad. No. 122, 2001
s. 793B...........................................ad. No. 122, 2001
am. No. 26, 2010; No. 178, 2012; No 25, 2017
s. 793C...........................................ad. No. 122, 2001
s. 793D...........................................ad. No. 122, 2001
s. 793E ...........................................ad. No. 122, 2001
s. 794 .............................................rep. No. 122, 2001
Subdivision C
s. 794A...........................................ad. No. 122, 2001
s. 794B...........................................ad. No. 122, 2001
s. 794C...........................................ad. No. 122, 2001
am. No. 41, 2003; No 59, 2013
s. 794D...........................................ad. No. 122, 2001
s. 794E ...........................................ad. No. 122, 2001
s. 795 .............................................rep. No. 122, 2001
Division 4
Subdivision A
s. 795A...........................................ad. No. 122, 2001
s. 795B...........................................ad. No. 122, 2001
am. No. 26, 2010
s. 795C...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 529
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 795D...........................................ad. No. 122, 2001
s. 795E ...........................................ad. No. 122, 2001
Subdivision B
s. 796A...........................................ad. No. 122, 2001
Subdivision C
s. 797A...........................................ad. No. 122, 2001
s 797B............................................ad No 122, 2001
am No 11, 2016; No 45, 2017
s. 797C...........................................ad. No. 122, 2001
s. 797D...........................................ad. No. 122, 2001
s. 797E ...........................................ad. No. 122, 2001
s. 797F ...........................................ad. No. 122, 2001
s. 797G...........................................ad. No. 122, 2001
s. 798 .............................................rep. No. 122, 2001
Division 5
s. 798A...........................................ad. No. 122, 2001
s. 798B...........................................ad. No. 122, 2001
s. 798C...........................................ad. No. 122, 2001
rs. No. 101, 2007
s. 798D...........................................ad. No. 122, 2001
am. No. 101, 2007
s. 798DA........................................ad. No. 101, 2007
s. 798E ...........................................ad. No. 122, 2001
Part 7.2A
Part 7.2A........................................ad. No. 26, 2010
s. 798F ...........................................ad. No. 26, 2010
s. 798G...........................................ad. No. 26, 2010
s. 798H...........................................ad. No. 26, 2010
am. No. 178, 2012
s. 798J............................................ad. No. 26, 2010
s. 798K...........................................ad. No. 26, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
530 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 798L ...........................................ad. No. 26, 2010
s 798M...........................................ad No 17, 2017
s. 799 .............................................rep. No. 122, 2001
s. 799A...........................................rep. No. 122, 2001
ss. 800–820 ....................................rep. No. 122, 2001
Part 7.3
Division 1
s. 820A...........................................ad. No. 122, 2001
s. 820B...........................................ad. No. 122, 2001
s 820C............................................ad No 122, 2001
rs No 17, 2017
s. 820D...........................................ad. No. 122, 2001
s. 821 .............................................rep. No. 122, 2001
Division 2
Subdivision A
s. 821A...........................................ad. No. 122, 2001
s. 821B...........................................ad. No. 122, 2001
am. No. 103, 2004
s. 821BA........................................ad. No. 122, 2001
s. 821C...........................................ad. No. 122, 2001
s. 821D...........................................ad. No. 122, 2001
s. 821E ...........................................ad. No. 122, 2001
s. 821F ...........................................ad. No. 122, 2001
s. 822 .............................................rep. No. 122, 2001
Subdivision B
s. 822A...........................................ad. No. 122, 2001
s. 822B...........................................ad. No. 122, 2001
am. No. 178, 2012; No 25, 2017
s. 822C...........................................ad. No. 122, 2001
s. 822D...........................................ad. No. 122, 2001
s. 822E ...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 531
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision C
s. 823A...........................................ad. No. 122, 2001
s. 823B...........................................ad. No. 122, 2001
s. 823C...........................................ad. No. 122, 2001
am. No. 41, 2003; No 59, 2013
s. 823CA........................................ad. No. 122, 2001
am. No. 41, 2003; No 59, 2013
s. 823D...........................................ad. No. 122, 2001
s. 823E ...........................................ad. No. 122, 2001
s. 824 .............................................rep. No. 122, 2001
Division 3
Subdivision A
s. 824A...........................................ad. No. 122, 2001
s. 824B...........................................ad. No. 122, 2001
s. 824C...........................................ad. No. 122, 2001
s. 824D...........................................ad. No. 122, 2001
s. 824E ...........................................ad. No. 122, 2001
s. 825 .............................................rep. No. 122, 2001
Subdivision B
s. 825A...........................................rs. No. 122, 2001
s. 826 .............................................rep. No. 122, 2001
Subdivision C
s. 826A...........................................ad. No. 122, 2001
s 826B............................................ad No 122, 2001
am No 11, 2016; No 45, 2017
s. 826C...........................................ad. No. 122, 2001
s. 826D...........................................ad. No. 122, 2001
s. 826E ...........................................ad. No. 122, 2001
s. 826F ...........................................ad. No. 122, 2001
s. 826G...........................................ad. No. 122, 2001
s. 827 .............................................rep. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
532 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 4
s. 827A...........................................ad. No. 122, 2001
s. 827B...........................................ad. No. 122, 2001
s. 827C...........................................ad. No. 122, 2001
s. 827D...........................................ad. No. 122, 2001
am. No. 5, 2011; No. 178, 2012
ss. 828–839 ....................................rep. No. 122, 2001
ss. 841–850 ....................................rep. No. 122, 2001
Part 7.4
Division 1
Subdivision A
s. 850A...........................................ad. No. 122, 2001
s. 850B...........................................ad. No. 122, 2001
am. No. 154, 2007
s. 850C...........................................ad. No. 122, 2001
s. 850D...........................................ad. No. 122, 2001
s. 850E ...........................................ad. No. 122, 2001
s. 851 .............................................rep. No. 122, 2001
Subdivision B
s. 851A...........................................ad. No. 122, 2001
s. 851B...........................................ad. No. 122, 2001
s. 851C...........................................ad. No. 122, 2001
s. 851D...........................................ad. No. 122, 2001
s. 851E ...........................................ad. No. 122, 2001
s. 851F ...........................................ad. No. 122, 2001
s. 851G...........................................ad. No. 122, 2001
s. 851H...........................................ad. No. 122, 2001
s. 851I ............................................ad. No. 122, 2001
s. 852 .............................................rep. No. 122, 2001
Subdivision C
s. 852A...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 533
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 852B...........................................ad. No. 122, 2001
s. 853 .............................................rep. No. 122, 2001
Division 2
s. 853A...........................................ad. No. 122, 2001
s. 853B...........................................ad. No. 122, 2001
am. No. 103, 2004; No. 178, 2012
s. 853C...........................................ad. No. 122, 2001
am. No. 178, 2012
s. 853D...........................................ad. No. 122, 2001
am. No. 178, 2012
s. 853E ...........................................ad. No. 122, 2001
s. 853F ...........................................ad. No. 122, 2001
am. No. 178, 2012
s. 853G...........................................ad. No. 122, 2001
am. No. 178, 2012
s. 854 .............................................rep. No. 122, 2001
Division 3
s. 854A...........................................ad. No. 122, 2001
am. No. 178, 2012
s. 854B...........................................ad. No. 122, 2001
am. No. 141, 2003
ss. 855–865 ....................................rep. No. 122, 2001
s. 865A...........................................rep. No. 122, 2001
ss. 866–880 ....................................rep. No. 122, 2001
Part 7.5
Division 1
s. 880A...........................................ad. No. 122, 2001
s. 880B...........................................ad. No. 122, 2001
s. 881 .............................................rep. No. 122, 2001
Division 2
s. 881A...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
534 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 881B...........................................ad. No. 122, 2001
s. 881C...........................................ad. No. 122, 2001
s. 881D...........................................ad. No. 122, 2001
s. 882 .............................................rep. No. 122, 2001
Division 3
Subdivision A
s. 882A...........................................ad. No. 122, 2001
s. 882B...........................................ad. No. 122, 2001
s. 882C...........................................ad. No. 122, 2001
s. 882D...........................................ad. No. 122, 2001
s. 883 .............................................rep. No. 122, 2001
Subdivision B
s. 883A...........................................ad. No. 122, 2001
s. 883B...........................................ad. No. 122, 2001
s. 883C...........................................ad. No. 122, 2001
s. 883D...........................................ad. No. 122, 2001
s. 884 .............................................rep. No. 122, 2001
Subdivision C
s. 884A...........................................ad. No. 122, 2001
s. 884B...........................................ad. No. 122, 2001
s. 884C...........................................ad. No. 122, 2001
s. 885 .............................................rep. No. 122, 2001
Subdivision D
s. 885A...........................................ad. No. 122, 2001
s. 885B...........................................ad. No. 122, 2001
s. 885C...........................................ad. No. 122, 2001
s. 885D...........................................ad. No. 122, 2001
s. 885E ...........................................ad. No. 122, 2001
s. 885F ...........................................ad. No. 122, 2001
s. 885G...........................................ad. No. 122, 2001
s. 885H...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 535
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 885I ............................................ad. No. 122, 2001
s. 885J............................................ad. No. 122, 2001
s. 886 .............................................rep. No. 122, 2001
Subdivision E
s. 886A...........................................ad. No. 122, 2001
s. 886B...........................................ad. No. 122, 2001
s. 887 .............................................rep. No. 122, 2001
Division 4
Subdivision A
s. 887A...........................................ad. No. 122, 2001
s. 888 .............................................rep. No. 122, 2001
Subdivision B
s. 888A...........................................ad. No. 122, 2001
s. 888B...........................................ad. No. 122, 2001
s. 888C...........................................ad. No. 122, 2001
s. 888D...........................................ad. No. 122, 2001
s. 888E ...........................................ad. No. 122, 2001
s. 888F ...........................................ad. No. 122, 2001
s. 888G...........................................ad. No. 122, 2001
s. 888H...........................................ad. No. 122, 2001
s. 888I ............................................ad. No. 122, 2001
s. 888J............................................ad. No. 122, 2001
s. 888K...........................................ad. No. 122, 2001
s. 889 .............................................rep. No. 122, 2001
Subdivision C
s. 889A...........................................ad. No. 122, 2001
s. 889B...........................................ad. No. 122, 2001
s. 889C...........................................ad. No. 122, 2001
s. 889D...........................................ad. No. 122, 2001
s. 889E ...........................................ad. No. 122, 2001
s. 889F ...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
536 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 889G...........................................ad. No. 122, 2001
s. 889H...........................................ad. No. 122, 2001
s. 889I ............................................ad. No. 122, 2001
s. 889J............................................ad. No. 122, 2001
am No. 149, 2007
s. 889K...........................................ad. No. 122, 2001
s. 890 .............................................rep. No. 122, 2001
Subdivision D
s. 890A...........................................ad. No. 122, 2001
s. 890B...........................................ad. No. 122, 2001
s. 890C...........................................ad. No. 122, 2001
s. 890D...........................................ad. No. 122, 2001
s. 890E ...........................................ad. No. 122, 2001
s. 890F ...........................................ad. No. 122, 2001
s. 890G...........................................ad. No. 122, 2001
s. 890H...........................................ad. No. 122, 2001
s. 891 .............................................rep. No. 122, 2001
Subdivision E
s. 891A...........................................ad. No. 122, 2001
s. 891B...........................................ad. No. 122, 2001
s. 891C...........................................ad. No. 122, 2001
s. 892 .............................................rep. No. 122, 2001
Division 5
s. 892A...........................................ad. No. 122, 2001
s. 892B...........................................ad. No. 122, 2001
s. 892C...........................................ad. No. 122, 2001
s. 892D...........................................ad. No. 122, 2001
s. 892E ...........................................ad. No. 122, 2001
s. 892F ...........................................ad. No. 122, 2001
s. 892G...........................................ad. No. 122, 2001
s. 892H...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 537
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am. No. 103, 2004
s. 892I ............................................ad. No. 122, 2001
s. 892J............................................ad. No. 122, 2001
s. 892K...........................................ad. No. 122, 2001
s. 893 .............................................rep. No. 122, 2001
Division 6
s. 893A...........................................ad. No. 122, 2001
s 893B............................................ad No 17, 2017
ss. 894–899 ....................................rep. No. 122, 2001
Part 7.5A
Part 7.5A........................................ad. No. 178, 2012
Division 1
s. 900 .............................................rep. No. 122, 2001
s. 900A...........................................ad. No. 178, 2012
Division 2
Subdivision A
s. 901 .............................................rep. No. 122, 2001
s. 901A...........................................ad. No. 178, 2012
s. 901B...........................................ad. No. 178, 2012
s. 901C...........................................ad. No. 178, 2012
s. 901D...........................................ad. No. 178, 2012
Subdivision B
s. 901E ...........................................ad. No. 178, 2012
am No 25, 2017
s. 901F ...........................................ad. No. 178, 2012
s. 901G...........................................ad. No. 178, 2012
Subdivision C
s. 901H...........................................ad. No. 178, 2012
s. 901J............................................ad. No. 178, 2012
s. 901K...........................................ad. No. 178, 2012
s. 901L ...........................................ad. No. 178, 2012
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
538 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 901M..........................................ad. No. 178, 2012
Division 3
s. 902 .............................................rep. No. 122, 2001
s. 902A...........................................ad. No. 178, 2012
Division 4
Subdivision A
s. 903 .............................................rep. No. 122, 2001
s. 903A...........................................ad. No. 178, 2012
s. 903B...........................................ad. No. 178, 2012
s. 903C...........................................ad. No. 178, 2012
Subdivision B
s. 903D...........................................ad. No. 178, 2012
am No 25, 2017
s. 903E ...........................................ad. No. 178, 2012
Subdivision C
s. 903F ...........................................ad. No. 178, 2012
s. 903G...........................................ad. No. 178, 2012
s. 903H...........................................ad. No. 178, 2012
s. 903J............................................ad. No. 178, 2012
s. 903K...........................................ad. No. 178, 2012
Division 5
Subdivision A
s. 904 .............................................rep. No. 122, 2001
s. 904A...........................................ad. No. 178, 2012
s. 904B...........................................ad. No. 178, 2012
s. 904C...........................................ad. No. 178, 2012
s. 904D...........................................ad. No. 178, 2012
s. 904E ...........................................ad. No. 178, 2012
Subdivision B
s. 904F ...........................................ad. No. 178, 2012
s. 904G...........................................ad. No. 178, 2012
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 539
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 904H...........................................ad. No. 178, 2012
s. 904J............................................ad. No. 178, 2012
s. 904K...........................................ad. No. 178, 2012
Division 6
Subdivision A
s. 905 .............................................rep. No. 122, 2001
s. 905A...........................................ad. No. 178, 2012
Subdivision B
s. 905B...........................................ad. No. 178, 2012
s. 905C...........................................ad. No. 178, 2012
s. 905D...........................................ad. No. 178, 2012
s. 905E ...........................................ad. No. 178, 2012
Subdivision C
s. 905F ...........................................ad. No. 178, 2012
Subdivision D
s. 905G...........................................ad. No. 178, 2012
s 905H............................................ad No 178, 2012
am No 11, 2016; No 45, 2017
s. 905J............................................ad. No. 178, 2012
s. 905K...........................................ad. No. 178, 2012
s. 905L ...........................................ad. No. 178, 2012
s. 905M..........................................ad. No. 178, 2012
s. 905N...........................................ad. No. 178, 2012
Subdivision E
s. 905P ...........................................ad. No. 178, 2012
Division 7
s. 906 .............................................rep. No. 122, 2001
s. 906A...........................................ad. No. 178, 2012
Division 8
s. 907 .............................................rep. No. 122, 2001
s. 907A...........................................ad. No. 178, 2012
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
540 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 907B...........................................ad. No. 178, 2012
s. 907C...........................................ad. No. 178, 2012
s. 907D...........................................ad. No. 178, 2012
s. 907E ...........................................ad. No. 178, 2012
s. 908 .............................................rep. No. 122, 2001
s. 909 .............................................rep. No. 122, 2001
s. 910 .............................................rep. No. 122, 2001
Part 7.6
Division 1
s 910A............................................ad No 122, 2001
am No 7, 2017
s. 911 .............................................rep. No. 122, 2001
Division 2
s. 911A...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007; No. 108, 2009
s. 911B...........................................ad. No. 122, 2001
s. 911C...........................................ad. No. 122, 2001
am. No. 141, 2003
s. 911D...........................................ad. No. 122, 2001
s. 912 .............................................rep. No. 122, 2001
Division 3
s 912A............................................ad No 122, 2001
am No 103, 2004; No 61, 2013; No 7, 2017
s. 912B...........................................ad. No. 122, 2001
s 912C............................................ad No 122, 2001
am No 141, 2003; No 6, 2017
s. 912CA........................................ad. No. 141, 2003
s. 912D...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 154, 2007; No. 108, 2009
s. 912E ...........................................ad. No. 122, 2001
s. 912F ...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 541
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am. No. 141, 2003
s. 913 .............................................rep. No. 122, 2001
Division 4
Subdivision A
s. 913A...........................................ad. No. 122, 2001
s 913B............................................ad No 122, 2001
am No 67, 2012; No 7, 2017
s. 913C...........................................ad. No. 122, 2001
am. No. 135, 2009
s. 914 .............................................rep. No. 122, 2001
Subdivision B
s. 914A...........................................ad. No. 122, 2001
s. 915 .............................................rep. No. 122, 2001
Subdivision C
s. 915A...........................................ad. No. 122, 2001
s 915B............................................ad No 122, 2001
am No 108, 2009; No 11, 2016; No 45, 2017
s. 915C...........................................ad. No. 122, 2001
am. No. 67, 2012
s. 915D...........................................ad. No. 122, 2001
s. 915E ...........................................ad. No. 122, 2001
s. 915F ...........................................ad. No. 122, 2001
s. 915G...........................................ad. No. 122, 2001
s. 915H...........................................ad. No. 122, 2001
s. 915I ............................................ad. No. 122, 2001
s. 915J............................................ad. No. 122, 2001
s. 916 .............................................rep. No. 122, 2001
Division 5
s 916A............................................ad No 122, 2001
am No 7, 2017
s 916B............................................ad No 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
542 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am No 7, 2017
s. 916C...........................................ad. No. 122, 2001
s. 916D...........................................ad. No. 122, 2001
s. 916E ...........................................ad. No. 122, 2001
s. 916F ...........................................ad. No. 122, 2001
am. No. 141, 2003
s. 916G...........................................ad. No. 122, 2001
s. 917 .............................................rep. No. 122, 2001
Division 6
s. 917A...........................................ad. No. 122, 2001
am. No. 101, 2007
s. 917B...........................................ad. No. 122, 2001
s. 917C...........................................ad. No. 122, 2001
am. No. 101, 2007
s. 917D...........................................ad. No. 122, 2001
s. 917E ...........................................ad. No. 122, 2001
s. 917F ...........................................ad. No. 122, 2001
s. 918 .............................................rep. No. 122, 2001
s. 920 .............................................rep. No. 122, 2001
Division 8
Subdivision A
s 920A............................................ad No 122, 2001
am No 141, 2003; No 67, 2012; No 7, 2017
s. 920B...........................................ad. No. 122, 2001
s. 920C...........................................ad. No. 122, 2001
s. 920D...........................................ad. No. 122, 2001
s. 920E ...........................................ad. No. 122, 2001
s. 920F ...........................................ad. No. 122, 2001
s. 921 .............................................rep. No. 122, 2001
Subdivision B
s. 921A...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 543
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 922 ..............................................rep No 122, 2001
Division 8A
Division 8A....................................ad No 7, 2017
Subdivision A
s 921B............................................ad No 7, 2017
s 921C............................................ad No 7, 2017
s 921D............................................ad No 7, 2017
Subdivision B
s 921E ............................................ad No 7, 2017
Subdivision C
s 921F ............................................ad No 7, 2017
Division 8B
Division 8B....................................ad No 7, 2017
Subdivision A
s 921G............................................ad No 7, 2017
s 921H............................................ad No 7, 2017
s 921J.............................................ad No 7, 2017
Subdivision B
s 921K............................................ad No 7, 2017
Subdivision C
s 921L............................................ad No 7, 2017
s 921M...........................................ad No 7, 2017
s 921N............................................ad No 7, 2017
Subdivision D
s 921P ............................................ad No 7, 2017
s 921Q............................................ad No 7, 2017
s 921R............................................ad No 7, 2017
s 921S ............................................ad No 7, 2017
s 921T............................................ad No 7, 2017
Division 8C
Division 8C....................................ad No 7, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
544 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision A
s 921U............................................ad No 7, 2017
s 921V............................................ad No 7, 2017
s 921W...........................................ad No 7, 2017
Subdivision B
s 921X............................................ad No 7, 2017
s 921Y............................................ad No 7, 2017
Subdivision C
s 921Z............................................ad No 7, 2017
s 921ZA .........................................ad No 7, 2017
s 921ZB .........................................ad No 7, 2017
s 921ZC .........................................ad No 7, 2017
Division 9
Subdivision A
Subdivision A heading...................ad No 7, 2017
s 922A............................................ad No 122, 2001
am No 7, 2017
s 922B............................................ad No 122, 2001
rs No 7, 2017
s 923 ..............................................rep No 122, 2001
Subdivision B
Subdivision B ................................ad No 7, 2017
s 922D............................................ad No 7, 2017
s 922E ............................................ad No 7, 2017
s 922F ............................................ad No 7, 2017
s 922G............................................ad No 7, 2017
s 922H............................................ad No 7, 2017
s 922HA.........................................ad No 7, 2017
s 922HB.........................................ad No 7, 2017
s 922HC.........................................ad No 7, 2017
s 922HD.........................................ad No 7, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 545
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 922J.............................................ad No 7, 2017
s 922K............................................ad No 7, 2017
s 922L............................................ad No 7, 2017
s 922M...........................................ad No 7, 2017
s 922N............................................ad No 7, 2017
s 922P ............................................ad No 7, 2017
Subdivision C
Subdivision C ................................ad No 7, 2017
s 922Q............................................ad No 7, 2017
s 922R............................................ad No 7, 2017
s 922S ............................................ad No 7, 2017
Division 10
s. 923A...........................................ad. No. 122, 2001
s. 923B...........................................ad. No. 122, 2001
s. 924 .............................................rep. No. 122, 2001
s 923C............................................ad No 7, 2017
Division 11
Subdivision A
s. 924A...........................................rs. No. 122, 2001
s. 924B...........................................rep. No. 122, 2001
Subdivision B
s. 925A...........................................rs. No. 122, 2001
s. 925B...........................................ad. No. 122, 2001
s. 925C...........................................ad. No. 122, 2001
s. 925D...........................................ad. No. 122, 2001
s. 925E ...........................................ad. No. 122, 2001
s. 925F ...........................................ad. No. 122, 2001
s. 925G...........................................ad. No. 122, 2001
s. 925H...........................................ad. No. 122, 2001
s. 925I ............................................ad. No. 122, 2001
s. 926 .............................................rep. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
546 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 12
Division 12 ....................................ad. No. 141, 2003
s 926A............................................ad No 141, 2003
am No 154, 2007; No 5, 2011; No 7, 2017
s. 926B...........................................ad. No. 141, 2003
s. 927 .............................................rep. No. 122, 2001
s. 927A...........................................rep. No. 122, 2001
s. 928 .............................................rep. No. 122, 2001
ss. 928A, 928B...............................rep. No. 122, 2001
ss. 929, 930 ....................................rep. No. 122, 2001
ss. 930A–930C...............................rep. No. 122, 2001
ss. 931–940 ....................................rep. No. 122, 2001
Part 7.7
Division 1
s. 940A...........................................ad. No. 122, 2001
s. 940B...........................................ad. No. 122, 2001
s. 940C...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 940D...........................................ad. No. 122, 2001
s. 941 .............................................rep. No. 122, 2001
Division 2
Subdivision A
s. 941A...........................................ad. No. 122, 2001
s. 941B...........................................ad. No. 122, 2001
s. 941C...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 941D...........................................ad. No. 122, 2001
s. 941E ...........................................ad. No. 122, 2001
s. 941F ...........................................ad. No. 122, 2001
Subdivision B
s. 942A...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 547
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 942B...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 942C...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 942D...........................................ad. No. 122, 2001
s. 942DA........................................ad. No. 141, 2003
s. 942E ...........................................ad. No. 122, 2001
s. 943 .............................................rep. No. 122, 2001
Subdivision C
s. 943A...........................................ad. No. 122, 2001
s. 943B...........................................ad. No. 122, 2001
s. 943C...........................................ad. No. 122, 2001
s. 943D...........................................ad. No. 122, 2001
s. 943E ...........................................ad. No. 122, 2001
s. 943F ...........................................ad. No. 122, 2001
s. 944 .............................................rep. No. 122, 2001
Division 3
Subdivision A
s. 944A...........................................ad. No. 122, 2001
s. 945 .............................................rep. No. 122, 2001
Subdivision B ................................rep. No. 68, 2012
ss. 945A, 945B...............................ad. No. 122, 2001
rep. No. 68, 2012
s. 946 .............................................rep. No. 122, 2001
Subdivision C
s. 946A...........................................ad. No. 122, 2001
am. No. 101, 2007
s 946AA.........................................ad No 101, 2007
am No 45, 2008; No 70, 2015
s. 946B...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
548 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 946C...........................................ad. No. 122, 2001
s. 947 .............................................rep. No. 122, 2001
Subdivision D
s. 947A...........................................ad. No. 122, 2001
s. 947B...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 68, 2012
s. 947C...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 68, 2012
s. 947D...........................................ad. No. 122, 2001
am. No. 141, 2003; No 61, 2013
s. 947E ...........................................ad. No. 141, 2003
s. 948 .............................................rep. No. 122, 2001
Subdivision E
s. 948A...........................................rs. No. 122, 2001
s. 949 .............................................rep. No. 122, 2001
Division 4
s. 949A...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 155, 2012
s. 949B...........................................ad. No. 122, 2001
s. 950 .............................................rep. No. 122, 2001
s. 950A...........................................rep. No. 122, 2001
s. 951 .............................................rep. No. 122, 2001
Division 6
s. 951A...........................................ad. No. 122, 2001
s. 951B...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 5, 2011
s. 951C...........................................ad. No. 141, 2003
s. 952 .............................................rep. No. 122, 2001
Division 7
Subdivision A
s. 952A...........................................rs. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 549
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 952B...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 952C...........................................ad. No. 122, 2001
s. 952D...........................................ad. No. 122, 2001
s. 952E ...........................................ad. No. 122, 2001
am. No. 101, 2007
s. 952F ...........................................ad. No. 122, 2001
am. No. 101, 2007
s. 952G...........................................ad. No. 122, 2001
am. No. 101, 2007
s. 952H...........................................ad. No. 122, 2001
s. 952I ............................................ad. No. 122, 2001
am. No. 141, 2003
s. 952J............................................ad. No. 122, 2001
am. No. 141, 2003
s. 952K...........................................ad. No. 122, 2001
s. 952L ...........................................ad. No. 122, 2001
s. 952M..........................................ad. No. 122, 2001
s. 953 .............................................rep. No. 122, 2001
Subdivision B
s. 953A...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 953B...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 68, 2012
s. 953C...........................................ad. No. 122, 2001
s. 954 .............................................rep. No. 122, 2001
ss. 954A–954H ..............................rep. No. 122, 2001
ss. 954L–954N...............................rep. No. 122, 2001
ss. 954P–954T................................rep. No. 122, 2001
ss. 954W–954Z..............................rep. No. 122, 2001
s. 954ZA ........................................rep. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
550 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 955 .............................................rep. No. 122, 2001
s. 955A...........................................rep. No. 122, 2001
s. 956 .............................................rep. No. 122, 2001
s. 957 .............................................rep. No. 122, 2001
s. 958 .............................................rep. No. 122, 2001
s. 959 .............................................rep. No. 122, 2001
Part 7.7A
Part 7.7A........................................ad. No. 67, 2012
Division 1
s 960 ..............................................rep No 122, 2001
ad No 67, 2012
am No 68, 2012; No 22, 2016; No 6, 2017
s. 960A...........................................ad. No. 67, 2012
s. 960B...........................................ad. No. 68, 2012
Division 2
Division 2 ......................................ad. No. 68, 2012
Subdivision A
s. 961 .............................................rep. No. 122, 2001
ad. No. 68, 2012
s. 961A...........................................ad. No. 68, 2012
Subdivision B
s. 961B...........................................ad. No. 68, 2012
am No 22, 2016
s. 961C...........................................rep. No. 122, 2001
ad. No. 68, 2012
s. 961D...........................................rep. No. 122, 2001
ad. No. 68, 2012
s. 961E ...........................................rep. No. 122, 2001
ad. No. 68, 2012
s 961F ............................................rep No 122, 2001
ad No 68, 2012
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 551
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am No 70, 2015; No 22, 2016
Subdivision C
s. 961G...........................................rep. No. 122, 2001
ad. No. 68, 2012
Subdivision D
s. 961H...........................................ad. No. 68, 2012
Subdivision E
s 961J.............................................ad No 68, 2012
am No 22, 2016
Subdivision F
s. 961K...........................................ad. No. 68, 2012
s. 961L ...........................................ad. No. 68, 2012
s. 961M..........................................ad. No. 68, 2012
s. 961N...........................................ad. No. 68, 2012
s. 961P ...........................................ad. No. 68, 2012
Subdivision G
s. 961Q...........................................ad. No. 68, 2012
Division 3
Subdivision A
s. 962 .............................................rep. No. 122, 2001
ad. No. 67, 2012
s. 962A...........................................ad. No. 67, 2012
s. 962B...........................................ad. No. 67, 2012
s. 962C...........................................ad. No. 67, 2012
s. 962CA........................................ad. No. 67, 2012
Subdivision B
s. 962D...........................................ad. No. 67, 2012
s. 962E ...........................................ad. No. 67, 2012
s. 962F ...........................................ad. No. 67, 2012
s 962G............................................ad No 67, 2012
am No 22, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
552 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 962H............................................ad No 67, 2012
am No 22, 2016
s. 962J............................................ad. No. 67, 2012
s 962K............................................ad No 67, 2012
am No 22, 2016
s. 962L ...........................................ad. No. 67, 2012
s. 962M..........................................ad. No. 67, 2012
s. 962N...........................................ad. No. 67, 2012
s. 962P ...........................................ad. No. 67, 2012
s. 962Q...........................................ad. No. 67, 2012
Subdivision C
s. 962R...........................................ad. No. 67, 2012
s 962S ............................................ad No 67, 2012
am No 22, 2016
Division 4
Division 4 ......................................ad. No. 68, 2012
Subdivision A
s. 963 .............................................rep. No. 122, 2001
ad. No. 68, 2012
Subdivision B
s 963A............................................ad No 68, 2012
am No 22, 2016; No 6, 2017
s 963AA.........................................ad No 6, 2017
s 963B............................................ad No 68, 2012
am No 22, 2016; No 6, 2017
s 963BA.........................................ad No 6, 2017
s 963C............................................ad No 68, 2012
am No 22, 2016; No 6, 2017
s 963D............................................ad No 68, 2012
rs No 22, 2016
am No 6, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 553
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision C
s. 963E ...........................................ad. No. 68, 2012
s. 963F ...........................................ad. No. 68, 2012
s. 963G...........................................ad. No. 68, 2012
s. 963H...........................................ad. No. 68, 2012
s. 963J............................................ad. No. 68, 2012
s. 963K...........................................ad. No. 68, 2012
s. 963L ...........................................ad. No. 68, 2012
Division 5
Division 5 ......................................ad. No. 68, 2012
Subdivision A
s. 964 .............................................rep. No. 122, 2001
ad. No. 68, 2012
am No 61, 2013
s. 964A...........................................ad. No. 68, 2012
Subdivision B
s. 964B...........................................ad. No. 68, 2012
s. 964C...........................................ad. No. 68, 2012
s. 964D...........................................ad. No. 68, 2012
s. 964E ...........................................ad. No. 68, 2012
s. 964F ...........................................ad. No. 68, 2012
s. 964G...........................................ad. No. 68, 2012
s. 964H...........................................ad. No. 68, 2012
Division 6
s. 965 .............................................rep. No. 122, 2001
ad. No. 67, 2012
am No 68, 2012
Division 7
s. 966 .............................................rep. No. 122, 2001
ad. No. 67, 2012
s. 967 .............................................rep. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
554 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
ad. No. 67, 2012
s. 968 .............................................rep. No. 122, 2001
ad. No. 67, 2012
am. No. 68, 2012
s. 969 .............................................rep. No. 122, 2001
s. 970 .............................................rep. No. 122, 2001
ss. 970A, 970B...............................rep. No. 122, 2001
ss. 971, 972 ....................................rep. No. 122, 2001
s. 972A...........................................rep. No. 122, 2001
ss. 973–980 ....................................rep. No. 122, 2001
Part 7.8
Division 1
s. 980A...........................................ad. No. 122, 2001
s. 980B...........................................ad. No. 122, 2001
s. 981 .............................................rep. No. 122, 2001
Division 2
Subdivision A
s. 981A...........................................ad. No. 122, 2001
am. No. 108, 2009
s. 981B...........................................ad. No. 122, 2001
am. No. 141, 2003
s. 981C...........................................ad. No. 122, 2001
s. 981D...........................................ad. No. 122, 2001
am No 25, 2017
s. 981E ...........................................ad. No. 122, 2001
am. No. 96, 2010
s. 981F ...........................................ad. No. 122, 2001
s. 981G...........................................ad. No. 122, 2001
s. 981H...........................................ad. No. 122, 2001
am. No. 141, 2003
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 555
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision AA
Subdivision AA .............................ad No 25, 2017
s 981J.............................................ad No 25, 2017
s 981K............................................ad No 25, 2017
s 981L............................................ad No 25, 2017
s 981M...........................................ad No 25, 2017
s 981N............................................ad No 25, 2017
s 981P ............................................ad No 25, 2017
s. 982 .............................................rep. No. 122, 2001
Subdivision B
s. 982A...........................................ad. No. 122, 2001
s. 982B...........................................ad. No. 122, 2001
s. 982C...........................................ad. No. 122, 2001
s. 982D...........................................ad. No. 122, 2001
s. 983 .............................................rep. No. 122, 2001
Subdivision C
s. 983A...........................................rs. No. 122, 2001
s. 983B...........................................ad. No. 122, 2001
s. 983C...........................................ad. No. 122, 2001
s. 983D...........................................ad. No. 122, 2001
s. 983E ...........................................ad. No. 122, 2001
s. 984 .............................................rep. No. 122, 2001
Division 3
s. 984A...........................................ad. No. 122, 2001
s. 984B...........................................ad. No. 122, 2001
am No 25, 2017
s. 985 .............................................rep. No. 122, 2001
Division 4
s. 985A...........................................ad. No. 122, 2001
am. No. 75, 2009
s. 985B...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
556 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 985C...........................................ad. No. 122, 2001
s. 985D...........................................ad. No. 149, 2007
(1)(b) exp (s 985D(3))
Division 4A
Division 4A....................................ad. No. 108, 2009
Subdivision A
s. 985EA ........................................ad. No. 108, 2009
s. 985E ...........................................ad. No. 108, 2009
s. 985F ...........................................ad. No. 108, 2009
s. 985G...........................................ad. No. 108, 2009
s. 985H...........................................ad. No. 108, 2009
s. 985J............................................ad. No. 108, 2009
s. 985K...........................................ad. No. 108, 2009
Subdivision B
s. 985L ...........................................ad. No. 108, 2009
s. 985M..........................................ad. No. 108, 2009
s. 986 .............................................rep. No. 122, 2001
Division 5
s. 986A...........................................ad. No. 122, 2001
s. 986B...........................................ad. No. 122, 2001
s. 987 .............................................rep. No. 122, 2001
Division 6
Subdivision A
s. 987A...........................................ad. No. 122, 2001
Subdivision B
s. 988A...........................................ad. No. 122, 2001
s. 988B...........................................ad. No. 122, 2001
s. 988C...........................................ad. No. 122, 2001
s. 988D...........................................ad. No. 122, 2001
s. 988E ...........................................ad. No. 122, 2001
s. 988F ...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 557
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 988G...........................................ad. No. 122, 2001
Subdivision C
s. 989A...........................................ad. No. 122, 2001
s. 989B...........................................ad. No. 122, 2001
s. 989C...........................................ad. No. 122, 2001
s. 989CA........................................ad. No. 103, 2004
s. 989D...........................................ad. No. 122, 2001
Subdivision D
s. 990A...........................................ad. No. 122, 2001
rs. No. 101, 2007
s. 990B...........................................ad. No. 122, 2001
am. No. 101, 2007
s. 990C...........................................ad. No. 122, 2001
s. 990D...........................................ad. No. 122, 2001
s. 990E ...........................................ad. No. 122, 2001
s. 990F ...........................................ad. No. 122, 2001
s. 990G...........................................ad. No. 122, 2001
s. 990H...........................................ad. No. 122, 2001
s. 990I ............................................ad. No. 122, 2001
am. No. 103, 2004; No. 101, 2007
s. 990J............................................ad. No. 122, 2001
s. 990K...........................................ad. No. 122, 2001
am. No. 103, 2004
s. 990L ...........................................ad. No. 122, 2001
rs. No. 103, 2004
Division 7
s. 991A...........................................ad. No. 122, 2001
s. 991B...........................................ad. No. 122, 2001
s. 991C...........................................ad. No. 122, 2001
s. 991D...........................................ad. No. 122, 2001
s. 991E ...........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
558 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 991F ...........................................ad. No. 122, 2001
Division 8
s. 992A...........................................ad. No. 122, 2001
am. No. 29, 2002; No. 141, 2003; No. 101, 2007
s. 992AA........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 992B...........................................ad. No. 122, 2001
am. No. 141, 2003; No. 5, 2011
s. 992C...........................................ad. No. 141, 2003
Division 9
s. 993A...........................................ad. No. 122, 2001
s. 993B...........................................ad. No. 122, 2001
s. 993C...........................................ad. No. 122, 2001
s. 993D...........................................ad. No. 122, 2001
s. 995 .............................................rep. No. 122, 2001
s. 995A...........................................rep. No. 122, 2001
ss. 997–1001 ..................................rep. No. 122, 2001
ss. 1001A–1001D ..........................rep. No. 122, 2001
s. 1002 ...........................................rep. No. 122, 2001
ss. 1002A–1002H ..........................rep. No. 122, 2001
ss. 1002J–1002N............................rep. No. 122, 2001
ss. 1002P–1002U ...........................rep. No. 122, 2001
s. 1005 ...........................................rep. No. 122, 2001
Part 7.9
Part 7.9 heading .............................rs. No. 141, 2003
Division 1
s. 1010A.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 146, 2008; No. 155, 2012
s. 1010B.........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1010BA......................................ad. No. 101, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 559
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1010C.........................................ad. No. 122, 2001
s. 1010D.........................................ad. No. 122, 2001
Division 2
Subdivision A
s. 1011A.........................................ad. No. 122, 2001
s. 1011B.........................................ad. No. 122, 2001
am. No. 101, 2007
s. 1011C.........................................ad. No. 122, 2001
Subdivision B
s. 1012A.........................................ad. No. 122, 2001
am. No. 103, 2004; No. 101, 2007
s. 1012B.........................................ad. No. 122, 2001
am. No. 101, 2007
s. 1012C.........................................ad. No. 122, 2001
am. No. 103, 2004
s. 1012D.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 103, 2004
s. 1012DAA...................................ad. No. 101, 2007
s. 1012DA......................................ad. No. 103, 2004
am. No. 101, 2007
s. 1012E .........................................ad. No. 122, 2001
s. 1012F .........................................ad. No. 122, 2001
s. 1012G.........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1012H.........................................ad. No. 122, 2001
s. 1012I ..........................................ad. No. 122, 2001
s. 1012IA .......................................ad. No. 122, 2001
am. No. 141, 2003
s. 1012J..........................................ad. No. 122, 2001
s. 1012K.........................................ad. No. 122, 2001
s. 1013 ...........................................rep. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
560 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision C
s. 1013A.........................................ad. No. 122, 2001
s. 1013B.........................................ad. No. 122, 2001
s. 1013C.........................................ad. No. 122, 2001
s. 1013D.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 103, 2004
s. 1013DA......................................ad. No. 122, 2001
s. 1013E .........................................ad. No. 122, 2001
am. No. 103, 2004
s. 1013F .........................................ad. No. 122, 2001
am. No. 141, 2003; No. 103, 2004
s. 1013FA ......................................ad. No. 103, 2004
am. No. 101, 2007
s. 1013G.........................................ad. No. 122, 2001
s. 1013H.........................................ad. No. 122, 2001
s. 1013I ..........................................ad. No. 122, 2001
s. 1013J..........................................ad. No. 122, 2001
s. 1013K.........................................ad. No. 122, 2001
s. 1013L .........................................ad. No. 122, 2001
s. 1013M........................................ad. No. 141, 2003
s. 1014 ...........................................rep. No. 122, 2001
Subdivision D
s. 1014A.........................................ad. No. 122, 2001
am. No. 101, 2007
s. 1014B.........................................ad. No. 122, 2001
s. 1014C.........................................ad. No. 122, 2001
s. 1014D.........................................ad. No. 122, 2001
s. 1014E .........................................ad. No. 122, 2001
s. 1014F .........................................ad. No. 122, 2001
Subdivision DA
Subdivision DA .............................ad. No. 101, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 561
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1014G.........................................ad. No. 101, 2007
s. 1014H.........................................ad. No. 101, 2007
s. 1014J..........................................ad. No. 101, 2007
s. 1014K.........................................ad. No. 101, 2007
s. 1014L .........................................ad. No. 101, 2007
s. 1015 ...........................................rep. No. 122, 2001
Subdivision E
s. 1015A.........................................ad. No. 122, 2001
s. 1015B.........................................ad. No. 122, 2001
s. 1015C.........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1015D.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 1015E .........................................ad. No. 122, 2001
Subdivision F
s 1016A..........................................ad No 122, 2001
am No 141, 2003; No 45, 2008; No 108, 2009; No 70, 2015
s. 1016B.........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1016C.........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1016D.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 1016E .........................................ad. No. 122, 2001
am. No. 141, 2003; No. 101, 2007
s. 1016F .........................................ad. No. 122, 2001
Division 3
s. 1017A.........................................ad. No. 122, 2001
s. 1017B.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 162, 2012; No 61, 2013
s 1017BA.......................................ad No 171, 2012
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
562 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am No 61, 2013
s 1017BB .......................................ad No 171, 2012
s 1017BC .......................................ad No 171, 2012
s 1017BD.......................................ad No 171, 2012
s 1017BE .......................................ad No 171, 2012
s. 1017C.........................................ad. No. 122, 2001
am. No. 141, 2003
s 1017D..........................................ad No 122, 2001
am No 141, 2003; No 45, 2008; No 108, 2009; No 70, 2015
s. 1017DA......................................ad. No. 122, 2001
s. 1017E .........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1017F .........................................ad. No. 122, 2001
s. 1017G.........................................ad. No. 122, 2001
Division 4
s 1018A..........................................ad No 122, 2001
am No 85, 2007; No 5, 2011; No 17, 2017
s. 1018B.........................................ad. No. 122, 2001
Division 5
s. 1019A.........................................ad. No. 122, 2001
am. No. 45, 2008
s. 1019B.........................................ad. No. 122, 2001
Division 5A
Division 5A....................................ad. No. 141, 2003
s. 1019C.........................................ad. No. 141, 2003
s. 1019D.........................................ad. No. 141, 2003
s. 1019E .........................................ad. No. 141, 2003
s. 1019F .........................................ad. No. 141, 2003
s. 1019G.........................................ad. No. 141, 2003
am. No. 131, 2010
s. 1019H.........................................ad. No. 141, 2003
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 563
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1019I ..........................................ad. No. 141, 2003
s. 1019J..........................................ad. No. 141, 2003
s. 1019K.........................................ad. No. 141, 2003
am. No. 131, 2010
Division 5B
Division 5B....................................ad. No. 146, 2008
s. 1020AA......................................ad. No. 146, 2008
s. 1020AB ......................................ad. No. 146, 2008
s. 1020AC ......................................ad. No. 146, 2008
s. 1020AD......................................ad. No. 146, 2008
s. 1020AE ......................................ad. No. 146, 2008
s. 1020AF ......................................ad. No. 146, 2008
Division 5C
Division 5C....................................ad. No. 155, 2012
s. 1020AG......................................ad. No. 155, 2012
s. 1020AH......................................ad. No. 155, 2012
s. 1020AI .......................................ad. No. 155, 2012
s. 1020AJ .......................................ad. No. 155, 2012
s. 1020AK......................................ad. No. 155, 2012
s. 1020AL ......................................ad. No. 155, 2012
Division 6
s. 1020A.........................................ad. No. 122, 2001
s. 1020B.........................................ad. No. 122, 2001
am. No. 146, 2008; No. 96, 2010
s. 1020C.........................................ad. No. 122, 2001
rep. No. 146, 2008
s. 1020D.........................................ad. No. 122, 2001
s. 1020E .........................................ad. No. 122, 2001
am. No. 141, 2003; No 171, 2012
s. 1020F .........................................ad. No. 122, 2001
am. No. 141, 2003; No. 146, 2008; No. 5, 2011
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
564 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1020G.........................................ad. No. 122, 2001
am. No. 141, 2003
Division 7
Subdivision A
s. 1021A.........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1021B.........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1021C.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 103, 2004; No. 101, 2007
s. 1021D.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 103, 2004; No. 101, 2007
s. 1021E .........................................ad. No. 122, 2001
am. No. 141, 2003; No. 103, 2004; No. 101, 2007
s. 1021F .........................................ad. No. 122, 2001
am. No. 141, 2003; No. 103, 2004; No. 101, 2007
s. 1021FA ......................................ad. No. 141, 2003
s. 1021FB.......................................ad. No. 141, 2003
s. 1021G.........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1021H.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 103, 2004; No. 101, 2007
s. 1021I ..........................................ad. No. 122, 2001
am. No. 141, 2003; No. 103, 2004; No. 101, 2007
s. 1021J..........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1021K.........................................ad. No. 122, 2001
s. 1021L .........................................ad. No. 122, 2001
s. 1021M........................................ad. No. 122, 2001
s. 1021N.........................................ad. No. 122, 2001
s 1021NA.......................................ad No 171, 2012
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 565
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 1021NB.......................................ad No 171, 2012
s 1021NC.......................................ad No 171, 2012
s. 1021O.........................................ad. No. 122, 2001
s. 1021P .........................................ad. No. 141, 2003
am. No. 131, 2010
Subdivision B
s. 1022A.........................................ad. No. 122, 2001
am. No. 141, 2003
s. 1022B.........................................ad. No. 122, 2001
am. No. 141, 2003; No 171, 2012
s. 1022C.........................................ad. No. 122, 2001
Part 7.10
Division 1
s. 1040A.........................................ad. No. 122, 2001
Division 2
s. 1041A.........................................ad. No. 122, 2001
s. 1041B.........................................ad. No. 122, 2001
am. No. 131, 2010
s. 1041C.........................................ad. No. 122, 2001
s. 1041D.........................................ad. No. 122, 2001
s. 1041E .........................................ad. No. 122, 2001
s. 1041F .........................................ad. No. 122, 2001
s. 1041G.........................................ad. No. 122, 2001
s 1041H..........................................ad No 122, 2001
am No 118, 2004; No 171, 2012; No 17, 2017
s. 1041I ..........................................ad. No. 122, 2001
am. Nos. 103 and 118, 2004
s. 1041J..........................................ad. No. 122, 2001
s 1041K..........................................ad No 122, 2001
am No 171, 2012; No 17, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
566 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 2A
Division 2A....................................ad. No. 103, 2004
s. 1041L .........................................ad. No. 103, 2004
s. 1041M........................................ad. No. 103, 2004
s. 1041N.........................................ad. No. 103, 2004
s. 1041O.........................................ad. No. 103, 2004
s. 1041P .........................................ad. No. 103, 2004
s. 1041Q.........................................ad. No. 103, 2004
s. 1041R.........................................ad. No. 103, 2004
s. 1041S .........................................ad. No. 103, 2004
Division 3
Subdivision A
s. 1042A.........................................ad. No. 122, 2001
am. No. 29, 2002
s. 1042B.........................................ad. No. 122, 2001
s. 1042C.........................................ad. No. 122, 2001
s. 1042D.........................................ad. No. 122, 2001
s. 1042E .........................................ad. No. 122, 2001
am. No. 26, 2010
s. 1042F .........................................ad. No. 122, 2001
am. No. 4, 2010
s. 1042G.........................................ad. No. 122, 2001
s. 1042H.........................................ad. No. 122, 2001
Subdivision B
s. 1043A.........................................ad. No. 122, 2001
s. 1043B.........................................ad. No. 122, 2001
s. 1043C.........................................ad. No. 122, 2001
s. 1043D.........................................ad. No. 122, 2001
s. 1043E .........................................ad. No. 122, 2001
s. 1043F .........................................ad. No. 122, 2001
am. No. 103, 2004
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 567
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1043G.........................................ad. No. 122, 2001
s. 1043H.........................................ad. No. 122, 2001
am. No. 29, 2002
s. 1043I ..........................................ad. No. 122, 2001
am. No. 29, 2002; No. 103, 2004
s. 1043J..........................................ad. No. 122, 2001
am. No. 29, 2002 (as am. by No. 100, 2005); No. 103, 2004
s. 1043K.........................................ad. No. 122, 2001
s. 1043L .........................................ad. No. 122, 2001
s. 1043M........................................ad. No. 122, 2001
s. 1043N.........................................ad. No. 122, 2001
s. 1043O.........................................ad. No. 122, 2001
Division 4
Division 4 heading.........................rs. No. 118, 2004
s. 1044A.........................................ad. No. 122, 2001
am. No. 103, 2004
s. 1044B.........................................ad. No. 118, 2004
Division 5
Division 5 ......................................ad. No. 141, 2003
s. 1045A.........................................ad. No. 141, 2003
Part 7.11
Division 1
s. 1070A.........................................ad. No. 122, 2001
s. 1070B.........................................ad. No. 122, 2001
s. 1070C.........................................ad. No. 122, 2001
s. 1070D.........................................ad. No. 122, 2001
Division 2
Subdivision A
s. 1071A.........................................ad. No. 122, 2001
s. 1071B.........................................ad. No. 122, 2001
s. 1071C.........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
568 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1071D.........................................ad. No. 122, 2001
s. 1071E .........................................ad. No. 122, 2001
s. 1071F .........................................ad. No. 122, 2001
s. 1071G.........................................ad. No. 122, 2001
am. No. 103, 2004
s. 1071H.........................................ad. No. 122, 2001
am. No. 103, 2004
Subdivision B
s. 1072A.........................................ad. No. 122, 2001
s. 1072B.........................................ad. No. 122, 2001
s. 1072C.........................................ad. No. 122, 2001
s. 1072D.........................................ad. No. 122, 2001
s. 1072E .........................................ad. No. 122, 2001
s. 1072F .........................................ad. No. 122, 2001
s. 1072G.........................................ad. No. 122, 2001
s. 1072H.........................................ad. No. 122, 2001
Division 3
s 1073A..........................................ad No 122, 2001
am No 155, 2012; No 100, 2014
s. 1073B.........................................ad. No. 122, 2001
s. 1073C.........................................ad. No. 122, 2001
s. 1073D.........................................ad. No. 122, 2001
s 1073E ..........................................ad No 122, 2001
am No 5, 2011; am No 155, 2012; No 100, 2014
s. 1073F .........................................ad. No. 122, 2001
Division 4
s. 1074A.........................................ad. No. 122, 2001
s. 1074B.........................................ad. No. 122, 2001
s. 1074C.........................................ad. No. 122, 2001
s. 1074D.........................................ad. No. 122, 2001
s. 1074E .........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 569
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1074F .........................................ad. No. 122, 2001
s. 1074G.........................................ad. No. 122, 2001
Division 5
s. 1075A.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 5, 2011
ss. 1085–1087 ................................rep. No. 122, 2001
ss. 1089–1091 ................................rep. No. 122, 2001
ss. 1091AA, 1091AB .....................rep. No. 122, 2001
ss. 1091A–1091E...........................rep. No. 122, 2001
ss. 1092–1096 ................................rep. No. 122, 2001
s. 1096A.........................................rep. No. 122, 2001
s. 1097 ...........................................rep. No. 122, 2001
ss. 1097A–1097D ..........................rep. No. 122, 2001
ss. 1098, 1099 ................................rep. No. 122, 2001
s. 1099A.........................................rep. No. 122, 2001
s. 1100 ...........................................rep. No. 122, 2001
Part 7.12
Division 1
s. 1100A.........................................ad. No. 122, 2001
am. No. 26, 2010; No 25, 2017
s. 1100B.........................................ad. No. 122, 2001
s. 1100C.........................................ad. No. 122, 2001
am. No. 26, 2010
s. 1100D.........................................ad. No. 122, 2001
s. 1101 ...........................................rep. No. 122, 2001
Division 2
s. 1101A.........................................ad. No. 122, 2001
s. 1101B.........................................ad. No. 122, 2001
am. No. 141, 2003; No. 26, 2010; No. 178, 2012; No 25, 2017
s. 1101C.........................................ad. No. 122, 2001
s. 1101D.........................................ad. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
570 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1101E .........................................ad. No. 122, 2001
s. 1101F .........................................ad. No. 122, 2001
s. 1101G.........................................ad. No. 122, 2001
s. 1101GA......................................ad. No. 122, 2001
s. 1101H.........................................ad. No. 122, 2001
s. 1101I ..........................................ad. No. 122, 2001
s. 1101J..........................................ad. No. 122, 2001
ss. 1102–1109 ................................rep. No. 122, 2001
ss. 1109A–1109G ..........................rep. No. 122, 2001
ss. 1109J–1109N............................rep. No. 122, 2001
s. 1109P .........................................rep. No. 122, 2001
ss. 1110–1112 ................................rep. No. 122, 2001
ss. 1112A–1112D ..........................rep. No. 122, 2001
s. 1113 ...........................................rep. No. 122, 2001
s. 1113A.........................................rep. No. 122, 2001
ss. 1114–1119 ................................rep. No. 122, 2001
s. 1119A.........................................ad. No. 146, 2001
rep. No. 122, 2001
Chapter 8
Chapter 8 .......................................rep. No. 122, 2001
ad. No. 85, 2007
ss. 1120–1123 ................................rep. No. 122, 2001
ss. 1126–1128 ................................rep. No. 122, 2001
ss. 1131–1141 ................................rep. No. 122, 2001
s. 1141A.........................................rep. No. 122, 2001
ss. 1142–1144 ................................rep. No. 122, 2001
s. 1144A.........................................rep. No. 122, 2001
s. 1145 ...........................................rep. No. 122, 2001
s. 1145A.........................................rep. No. 122, 2001
ss. 1147–1161 ................................rep. No. 122, 2001
ss. 1164, 1165 ................................rep. No. 122, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 571
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1165A.........................................rep. No. 122, 2001
ss. 1166–1178 ................................rep. No. 122, 2001
ss. 1180–1188 ................................rep. No. 122, 2001
s. 1189A.........................................rep. No. 122, 2001
ss. 1190–1192 ................................rep. No. 122, 2001
s. 1192A.........................................rep. No. 122, 2001
ss. 1193–1199 ................................rep. No. 122, 2001
s. 1199A.........................................rep. No. 122, 2001
s. 1200 ...........................................rep. No. 122, 2001
Part 8.1
s. 1200A.........................................ad. No. 85, 2007
Part 8.2
Division 1
s. 1200B.........................................ad. No. 85, 2007
s. 1200C.........................................ad. No. 85, 2007
s. 1200D.........................................ad. No. 85, 2007
s. 1200E .........................................ad. No. 85, 2007
Division 2
s. 1200F .........................................ad. No. 85, 2007
am. No. 146, 2008
Division 3
s. 1200G.........................................ad. No. 85, 2007
s. 1200H.........................................ad. No. 85, 2007
s. 1200J..........................................ad. No. 85, 2007
Division 4
s. 1200K.........................................ad. No. 85, 2007
s. 1200L .........................................ad. No. 85, 2007
s. 1200M........................................ad. No. 85, 2007
Division 5
s. 1200N.........................................ad. No. 85, 2007
s. 1200P .........................................ad. No. 85, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
572 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1200Q.........................................ad. No. 85, 2007
Division 6
s. 1200R.........................................ad. No. 85, 2007
Part 8.3
s. 1200S .........................................ad. No. 85, 2007
s. 1200T .........................................ad. No. 85, 2007
s. 1200U.........................................ad. No. 85, 2007
ss. 1201, 1202 ................................rep. No. 122, 2001
ss. 1204, 1205 ................................rep. No. 122, 2001
s. 1205A.........................................rep. No. 122, 2001
ss. 1206–1273 ................................rep. No. 122, 2001
s. 1273A.........................................ad. No. 146, 2001
rep. No. 122, 2001
Chapter 9
Part 9.1
s 1274 ............................................am No 117, 2001; No 122, 2001; No 24, 2003; No 141, 2003; No 103,
2004; No 85, 2007; No 154, 2007; No 11, 2016; No 25, 2017; No 55,
2017
s 1274AA.......................................rs No 103, 2004
am No 131, 2006; No 9, 2009; No 44, 2010
s 1274A..........................................am No 7, 2017
Part 9.2
Part 9.2 heading .............................rs No 11, 2016
Division 2
s 1279 ............................................am No 103, 2004; No 11, 2016
s. 1280 ...........................................am. No. 116, 2003; No. 103, 2004
s. 1280A.........................................ad. No. 103, 2004
am No 58, 2016
s. 1281 ...........................................am. No. 103, 2004
s 1282 ............................................am No 116, 2003; No 132, 2007
rep No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 573
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 1283 ............................................rep No 11, 2016
s 1284 ............................................rs No 132, 2007
rep No 11, 2016
s 1286 ............................................rep No 11, 2016
s 1287 ............................................am No 11, 2016
s. 1287A.........................................ad. No. 103, 2004
s 1288 ............................................am No 103, 2004; No 132, 2007
rep No 11, 2016
s. 1289 ...........................................rs. No. 103, 2004
am. No. 1, 2007
Division 2A
Division 2A....................................ad. No. 103, 2004
s. 1289A.........................................ad. No. 103, 2004
Division 3
s 1290 ............................................am No 11, 2016
s 1290A..........................................ad No 132, 2007
rep No 11, 2016
s 1291 ............................................rep No 11, 2016
ad No 45, 2017
s 1291A..........................................ad No 45, 2017
s 1291B..........................................ad No 45, 2017
s 1292 ............................................am No 119, 2001; No 103, 2004; No 105, 2008; No 11, 2016
s 1294 ............................................am No 119, 2001; No 11, 2016
s. 1294A.........................................ad. No. 132, 2007
s 1295 ............................................am No 11, 2016; No 45, 2017
s. 1296 ...........................................am. No. 103, 2004; No. 132, 2007; No. 5, 2011
s 1297 ............................................am No 132, 2007; No 11, 2016
s 1298 ............................................am No 103, 2004
rs No 11, 2016
s 1298A..........................................ad No 132, 2007
rep No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
574 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 4
Division 4 ......................................ad No 58, 2016
s 1298P ..........................................ad No 58, 2016
s 1298Q..........................................ad No 58, 2016
Part 9.2A
Part 9.2A........................................ad. No. 103, 2004
Division 1
s. 1299A.........................................ad. No. 103, 2004
s 1299B..........................................ad No 103, 2004
am No 11, 2016
s. 1299C.........................................ad. No. 103, 2004
s. 1299D.........................................ad. No. 103, 2004
s. 1299E .........................................ad. No. 103, 2004
s. 1299F .........................................ad. No. 103, 2004
s. 1299G.........................................ad. No. 103, 2004
Division 2
s. 1299H.........................................ad. No. 103, 2004
s 1299I ...........................................ad No 103, 2004
am No 45, 2017
s. 1299J..........................................ad. No. 103, 2004
s. 1299K.........................................ad. No. 103, 2004
s. 1299L .........................................ad. No. 103, 2004
s. 1299M........................................ad. No. 103, 2004
Part 9.3
s 1300 ............................................am No 117, 2001; No 11, 2016
s. 1302 ...........................................am. No. 117, 2001; No. 103, 2004
rep. No. 96, 2010
s. 1306 ...........................................am. No. 116, 2003
s. 1307 ...........................................am. No. 117, 2001; No. 103, 2004
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 575
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 9.4
Division 1A
Division 1A....................................ad. No. 117, 2001
s. 1308A.........................................ad. No. 117, 2001
Division 1
s 1308 ............................................am No 117 and 122, 2001; No 141, 2003; No 103, 2004; No 101, 2007;
No 100 2014
s 1309 ............................................am No 122, 2001; No 103, 2004; No 126, 2006; No 101, 2007; No 100,
2014; No 17, 2017
Division 2
s 1311 ............................................am No 117, 2001; No 122, 2001; No 24, 2003; No 85, 2007; No 108,
2009; No 17, 2017
s. 1312 ...........................................am. No. 131, 2010
s. 1314 ...........................................am. No. 103, 2004
Part 9.4AAA
Part 9.4AAA ..................................ad. No. 103, 2004
s. 1317AA......................................ad. No. 103, 2004
s. 1317AB ......................................ad. No. 103, 2004
s. 1317AC ......................................ad. No. 103, 2004
s. 1317AD......................................ad. No. 103, 2004
s. 1317AE ......................................ad. No. 103, 2004
Part 9.4A
s 1317B..........................................am No 103, 2004; No 11, 2016
s 1317C..........................................am No 122, 2001; No 103, 2004; No 26, 2010; No 48, 2012; No 118,
2012; No 178, 2012; No 11, 2016; No 25, 2017
s 1317D..........................................am No 11, 2016
Part 9.4AA
Part 9.4AA.....................................ad. No. 103, 2004
s. 1317DAA...................................ad. No. 103, 2004
s. 1317DAB ...................................ad. No. 103, 2004
s. 1317DAC ...................................ad. No. 103, 2004
s. 1317DAD...................................ad. No. 103, 2004
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
576 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1317DAE ...................................ad. No. 103, 2004
s. 1317DAF....................................ad. No. 103, 2004
s 1317DAG....................................ad No 103, 2004
am No 101, 2007; No 100, 2014
s. 1317DAH...................................ad. No. 103, 2004
s. 1317DAI.....................................ad. No. 103, 2004
s. 1317DAJ ....................................ad. No. 103, 2004
Part 9.4B
s. 1317DA......................................ad. No. 122, 2001
am. No. 29, 2002; No. 26, 2010; No. 68, 2012
rs No 59, 2013
am No 25, 2017
s. 1317E .........................................am. Nos. 55 and 122, 2001; No. 103, 2004; No. 108, 2009; No. 26,
2010; Nos. 67, 68, 178 and 180, 2012; No 59, 2013; No 25, 2017
s. 1317G.........................................am. No. 122, 2001; No. 103, 2004; No. 26, 2010; Nos. 67, 68, 178 and
180, 2012; No 25, 2017
s. 1317GA......................................ad. No. 67, 2012
s. 1317H.........................................am. No. 122, 2001
am. No. 103, 2004
s. 1317HA......................................ad. No. 122, 2001
am. No. 103, 2004
s. 1317HB ......................................ad. No. 26, 2010
am No 25, 2017
s. 1317J..........................................am. No. 122, 2001; No. 103, 2004; No. 178, 2012
s. 1317P .........................................am. No. 122, 2001; No. 103, 2004; No. 68, 2012
s. 1317R.........................................am. No. 103, 2004
s. 1317S .........................................am. No. 103, 2004; Nos. 68 and 178, 2012
Part 9.5
s. 1318 ...........................................am. No. 103, 2004; No. 126, 2006
s 1321 ............................................am No 126, 2006
rep No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 577
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1322 ...........................................am. No. 103, 2004
s. 1323 ...........................................am. Nos. 117 and 122, 2001
s. 1324A.........................................am. No. 122, 2001
s. 1324B.........................................am. No. 122, 2001; No. 26, 2010; No. 178, 2012; No 25, 2017
s. 1325 ...........................................am. No. 122, 2001; No. 118, 2004; No. 26, 2010; No. 42, 2011; No 25,
2017
s. 1325A.........................................am. No. 122, 2001
s. 1325B.........................................am. No. 122, 2001
Part 9.6
s. 1335 ...........................................am. No. 116, 2003; No. 126, 2006
Part 9.6A
Division 2
Division 2 heading.........................rs. No. 116, 2003
s. 1338B.........................................am. No. 108, 2009
Part 9.7
s. 1339 ...........................................rs. No. 74, 2007
am. No. 176, 2012
s. 1340 ...........................................am. No. 74, 2007
s. 1341 ...........................................am. No. 8, 2005; No. 74, 2007; No. 176, 2012
Part 9.9
s. 1344 ...........................................ad. No. 24, 2003
s. 1345A.........................................am. No. 101, 2007
s 1349 ............................................ad No 132, 2007
am No 103, 2010; No 11, 2016
Part 9.10
Part 9.10 heading ...........................rs. No. 24, 2003
s 1351 ............................................rs No 24, 2003
am No 101, 2007; No 48, 2012; No 11, 2016
s. 1359 ...........................................am. No. 24, 2003
Part 9.12
s. 1364 ...........................................am. No. 122, 2001; No. 24, 2003; No. 132, 2007; No. 24, 2011
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
578 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s. 1367A.........................................ad. No. 48, 2012
s. 1368 ...........................................am. No. 122, 2001
Chapter 10
Part 10.1
Division 1
s. 1372 ...........................................am. No. 55, 2001
Division 4
s. 1382 ...........................................am. No. 55, 2001
s. 1384A.........................................ad. No. 55, 2001
s. 1384B.........................................ad. No. 55, 2001
Division 5
s. 1390 ...........................................am. No. 5, 2011
Division 6
s 1400 ............................................am No 75, 2017
s 1401 ............................................am No 75, 2017
s. 1408 ...........................................am. No. 116, 2003
Division 7
s. 1409 ...........................................am. No. 154, 2007
Part 10.2
Part 10.2.........................................ad. No. 123, 2001
Division 1
Subdivision A
s. 1410 ...........................................ad. No. 123, 2001
Subdivision B
s. 1411 ...........................................ad. No. 123, 2001
s. 1412 ...........................................ad. No. 123, 2001
s. 1413 ...........................................ad. No. 123, 2001
s. 1414 ...........................................ad. No. 123, 2001
am. No. 141, 2003
s. 1415 ...........................................ad. No. 123, 2001
s. 1416 ...........................................ad. No. 123, 2001
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 579
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
am. No. 141, 2003
s. 1417 ...........................................ad. No. 123, 2001
am. No. 5, 2011
s. 1418 ...........................................ad. No. 123, 2001
s. 1419 ...........................................ad. No. 123, 2001
s. 1420 ...........................................ad. No. 123, 2001
s. 1421 ...........................................ad. No. 123, 2001
s. 1422 ...........................................ad. No. 123, 2001
Subdivision C
s. 1423 ...........................................ad. No. 123, 2001
s. 1424 ...........................................ad. No. 123, 2001
s. 1424A.........................................ad. No. 123, 2001
s. 1425 ...........................................ad. No. 123, 2001
s. 1426 ...........................................ad. No. 123, 2001
am. No. 141, 2003
s. 1427 ...........................................ad. No. 123, 2001
s. 1428 ...........................................ad. No. 123, 2001
am. No. 141, 2003
s. 1429 ...........................................ad. No. 123, 2001
Subdivision D
s. 1430 ...........................................ad. No. 123, 2001
s. 1431 ...........................................ad. No. 123, 2001
am. No. 141, 2003
s. 1432 ...........................................ad. No. 123, 2001
s. 1433 ...........................................ad. No. 123, 2001
s. 1434 ...........................................ad. No. 123, 2001
s. 1435 ...........................................ad. No. 123, 2001
s. 1436 ...........................................ad. No. 123, 2001
s. 1436A.........................................ad. No. 123, 2001
s. 1437 ...........................................ad. No. 123, 2001
am. No. 141, 2003; No. 5, 2011
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
580 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision E
s. 1438 ...........................................ad. No. 123, 2001
am. No. 141, 2003; No. 154, 2007; No. 5, 2011
s. 1439 ...........................................ad. No. 123, 2001
s. 1440 ...........................................ad. No. 123, 2001
s. 1441 ...........................................ad. No. 123, 2001
s. 1442 ...........................................ad. No. 123, 2001
am. No. 141, 2003; No. 5, 2011
Subdivision F
s. 1442A.........................................ad. No. 123, 2001
s. 1442B.........................................ad. No. 123, 2001
Division 2
s. 1443 ...........................................ad. No. 123, 2001
s. 1444 ...........................................ad. No. 123, 2001
am. No. 154, 2007
s. 1445 ...........................................ad. No. 123, 2001
am. No. 154, 2007
Part 10.3
Part 10.3.........................................ad No 24, 2003
s 1446 ............................................ad No 24, 2003
rep No 96, 2010
s 1447 ............................................ad No 24, 2003
s.1448 ............................................ad No 24, 2003
am No 103, 2004
Part 10.4
Part 10.4.........................................ad No 141, 2003
s 1449 ............................................ad No 141, 2003
s 1450 ............................................ad No 141, 2003
s 1451 ............................................ad No 141, 2003
s 1452 ............................................ad No 141, 2003
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 581
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 10.5
Part 10.5.........................................ad No 103, 2004
s 1453 ............................................ad No 103, 2004
s 1454 ............................................ad No 103, 2004
s 1455 ............................................ad No 103, 2004
am No 1, 2007
s 1456 ............................................ad No 103, 2004
s 1457 ............................................ad No 103, 2004
s 1458 ............................................ad No 103, 2004
s 1459 ............................................ad No 103, 2004
s 1460 ............................................ad No 103, 2004
s 1461 ............................................ad No 103, 2004
s 1462 ............................................ad No 103, 2004
am No 138, 2005
s 1463 ............................................ad No 103, 2004
s 1464 ............................................ad No 103, 2004
s 1465 ............................................ad No 103, 2004
s 1466A..........................................ad No 103, 2004
s 1466 ............................................ad No 103, 2004
s 1467 ............................................ad No 103, 2004
s 1468 ............................................ad No 103, 2004
s 1469 ............................................ad No 103, 2004
s 1470 ............................................ad No 103, 2004
s 1471 ............................................ad No 103, 2004
Part 10.8
Part 10.8.........................................ad No 64, 2007
s 1478 ............................................ad No 64, 2007
Part 10.9
Part 10.9.........................................ad No 132, 2007
s 1479 ............................................ad No 132, 2007
s 1480 ............................................ad No 132, 2007
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
582 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 1481 ............................................ad No 132, 2007
s 1482 ............................................ad No 132, 2007
s 1483 ............................................ad No 132, 2007
am No 96, 2010; No 35, 2011
Part 10.10
Part 10.10.......................................ad No 146, 2008
s 1484 ............................................ad No 146, 2008
Part 10.11
Part 10.11.......................................ad No 9, 2009
s 1485 ............................................ad No 9, 2009
s 1486 ............................................ad No 9, 2009
Part 10.12
Part 10.12.......................................ad No 108, 2009
Division 1
s 1487 ............................................ad No 108, 2009
s 1488 ............................................ad No 108, 2009
s 1489 ............................................ad No 108, 2009
s 1490 ............................................ad No 108, 2009
s 1491 ............................................ad No 108, 2009
s 1492 ............................................ad No 108, 2009
Division 2
s 1493 ............................................ad No 108, 2009
s 1494 ............................................ad No 108, 2009
s 1495 ............................................ad No 108, 2009
s 1496 ............................................ad No 108, 2009
Division 3
s 1497 ............................................ad No 108, 2009
s 1498 ............................................ad No 108, 2009
Part 10.13
Part 10.13.......................................ad No 96, 2010
s 1498A..........................................ad No 96, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 583
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
rep No 96, 2010
s 1499 ............................................ad No 96, 2010
s 1500 ............................................ad No 96, 2010
s 1501 ............................................ad No 96, 2010
am No 35, 2011
s 1501A..........................................ad No 35, 2011
s 1501B..........................................ad No 35, 2011
s 1502 ............................................ad No 96, 2010
s 1503 ............................................ad No 96, 2010
s 1504 ............................................ad No 96, 2010
s 1505 ............................................ad No 96, 2010
s 1506 ............................................ad No 96, 2010
s 1507 ............................................ad No 96, 2010
s 1508 ............................................ad No 96, 2010
s 1509 ............................................ad No 96, 2010
s 1510 ............................................ad No 96, 2010
am No 35, 2011
Part 10.14
Part 10.14.......................................ad No 66, 2010
s 1510A..........................................ad No 66, 2010
s 1510B..........................................ad No 66, 2010
Part 10.15
Part 10.15.......................................ad No 26, 2010 (as am by No 66, 2010)
s 1511 ............................................ad No 26, 2010
s 1512 ............................................ad No 26, 2010
s 1513 ............................................ad No 26, 2010
Part 10.16
Part 10.16.......................................ad No 131, 2010
s 1516 ............................................ad No 131, 2010
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
584 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 10.17
Part 10.17.......................................ad No 42, 2011
s 1517 ............................................ad No 42, 2011
s 1518 ............................................ad No 42, 2011
s 1519 ............................................ad No 42, 2011
s 1520 ............................................ad No 42, 2011
s 1521 ............................................ad No 42, 2011
s 1522 ............................................ad No 42, 2011
s 1523 ............................................ad No 42, 2011
s 1524 ............................................ad No 42, 2011
s 1525 ............................................ad No 42, 2011
Part 10.18
Part 10.18 heading .........................rs No 22, 2016
Part 10.18.......................................ad No 68, 2012
Division 1
Division 1 heading.........................ad No 22, 2016
s 1526 ............................................ad No 68, 2012
am No 61, 2013
s 1527 ............................................ad No 68, 2012
s 1528 ............................................ad No 68, 2012
s 1529 ............................................ad No 68, 2012
s 1530 ............................................ad No 68, 2012
s 1531 ............................................ad No 68, 2012
Division 2
Division 2 ......................................ad No 22, 2016
s 1531A..........................................ad No 22, 2016
s 1521B..........................................ad No 22, 2016
s 1531C..........................................ad No 22, 2016
s 1531D..........................................ad No 22, 2016
s 1532E ..........................................ad No 22, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 585
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 10.19
Part 10.19.......................................ad No 48, 2012
s 1532 ............................................ad No 48, 2012
s 1533 ............................................ad No 48, 2012
s 1534 ............................................ad No 48, 2012
s 1535 ............................................ad No 48, 2012
Part 10.20
Part 10.20.......................................ad No 72, 2012
s 1536 ............................................ad No 72, 2012
s 1537 ............................................ad No 72, 2012
Part 10.21
Part 10.21.......................................ad No 118, 2012
s 1538 ............................................ad No 118, 2012
Part 10.21A
Part 10.21A....................................ad No 61, 2013
s 1538A..........................................ad No 61, 2013
s 1538B..........................................ad No 61, 2013
Part 10.22
Part 10.22.......................................ad No 171, 2012
s 1539 ............................................ad No 171, 2012
s 1540 ............................................ad No 171, 2012
am No 61, 2013
s 1541 ............................................ad No 171, 2012
Part 10.23
Part 10.23.......................................ad No 83, 2014
s 1542 ............................................ad No 83, 2014
s 1543 ............................................ad No 83, 2014
s 1544 ............................................ad No 83, 2014
s 1545 ............................................ad No 83, 2014
s 1546 ............................................ad No 83, 2014
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
586 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Part 10.23A
Part 10.23A....................................ad No 7, 2017
Division 1
s 1546A..........................................ad No 7, 2017
Division 2
s 1546B..........................................ad No 7, 2017
s 1546C..........................................ad No 7, 2017
s 1546D..........................................ad No 7, 2017
s 1546E ..........................................ad No 7, 2017
s 1546F ..........................................ad No 7, 2017
s 1546G..........................................ad No 7, 2017
s 1546H..........................................ad No 7, 2017
s 1546J...........................................ad No 7, 2017
s 1546K..........................................ad No 7, 2017
s 1546L ..........................................ad No 7, 2017
s 1546M.........................................ad No 7, 2017
s 1546N..........................................ad No 7, 2017
s 1546P ..........................................ad No 7, 2017
s 1546Q..........................................ad No 7, 2017
s 1546R..........................................ad No 7, 2017
s 1546S ..........................................ad No 7, 2017
s 1546T ..........................................ad No 7, 2017
s 1546U..........................................ad No 7, 2017
s 1546V..........................................ad No 7, 2017
Division 3
s 1546W.........................................ad No 7, 2017
s 1546X..........................................ad No 7, 2017
s 1546Y..........................................ad No 7, 2017
s 1546Z ..........................................ad No 7, 2017
s 1546ZA .......................................ad No 7, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 587
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 4
s 1546ZB .......................................ad No 7, 2017
Part 10.24
Part 10.24.......................................ad No 19, 2015
s 1547 ............................................ad No 19, 2015
s 1548 ............................................ad No 19, 2015
s 1549 ............................................ad No 19, 2015
Part 10.24A
Part 10.24A....................................ad No 6, 2017
s 1549A..........................................ad No 6, 2017
s 1549B..........................................ad No 6, 2017
Part 10.25
Part 10.25.......................................ad No 11, 2016
Division 1
s 1550 ............................................ad No 11, 2016
s 1551 ............................................ad No 11, 2016
Division 2
Subdivision A
s 1552 ............................................ad No 11, 2016
s 1553 ............................................ad No 11, 2016
s 1554 ............................................ad No 11, 2016
s 1555 ............................................ad No 11, 2016
s 1556 ............................................ad No 11, 2016
s 1557 ............................................ad No 11, 2016
s 1558 ............................................ad No 11, 2016
s 1559 ............................................ad No 11, 2016
s 1560 ............................................ad No 11, 2016
Subdivision B
s 1561 ............................................ad No 11, 2016
Subdivision C
s 1562 ............................................ad No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
588 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision D
s 1563 ............................................ad No 11, 2016
s 1564 ............................................ad No 11, 2016
Subdivision E
s 1565 ............................................ad No 11, 2016
s 1566 ............................................ad No 11, 2016
s 1567 ............................................ad No 11, 2016
s 1568 ............................................ad No 11, 2016
s 1569 ............................................ad No 11, 2016
Subdivision F
s 1570 ............................................ad No 11, 2016
s 1571 ............................................ad No 11, 2016
s 1572 ............................................ad No 11, 2016
s 1573 ............................................ad No 11, 2016
s 1574 ............................................ad No 11, 2016
s 1575 ............................................ad No 11, 2016
Subdivision G
s 1576 ............................................ad No 11, 2016
s 1577 ............................................ad No 11, 2016
Division 3
Subdivision A
s 1578 ............................................ad No 11, 2016
Subdivision B
s 1579 ............................................ad No 11, 2016
Subdivision C
s 1580 ............................................ad No 11, 2016
s 1581 ............................................ad No 11, 2016
s 1582 ............................................ad No 11, 2016
s 1583 ............................................ad No 11, 2016
s 1584 ............................................ad No 11, 2016
s 1585 ............................................ad No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 589
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision D
s 1586 ............................................ad No 11, 2016
s 1587 ............................................ad No 11, 2016
s 1588 ............................................ad No 11, 2016
s 1589 ............................................ad No 11, 2016
s 1590 ............................................ad No 11, 2016
Subdivision E
s 1591 ............................................ad No 11, 2016
s 1592 ............................................ad No 11, 2016
s 1593 ............................................ad No 11, 2016
s 1594 ............................................ad No 11, 2016
s 1595 ............................................ad No 11, 2016
s 1596 ............................................ad No 11, 2016
s 1597 ............................................ad No 11, 2016
s 1598 ............................................ad No 11, 2016
s 1599 ............................................ad No 11, 2016
s 1600 ............................................ad No 11, 2016
Subdivision F
s 1601 ............................................ad No 11, 2016
s 1602 ............................................ad No 11, 2016
s 1603 ............................................ad No 11, 2016
s 1604 ............................................ad No 11, 2016
s 1605 ............................................ad No 11, 2016
s 1606 ............................................ad No 11, 2016
Subdivision G
s 1607 ............................................ad No 11, 2016
s 1608 ............................................ad No 11, 2016
s 1609 ............................................ad No 11, 2016
s 1610 ............................................ad No 11, 2016
s 1611 ............................................ad No 11, 2016
s 1612 ............................................ad No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
590 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 1613 ............................................ad No 11, 2016
s 1614 ............................................ad No 11, 2016
Subdivision H
s 1615 ............................................ad No 11, 2016
s 1616 ............................................ad No 11, 2016
s 1617 ............................................ad No 11, 2016
s 1618 ............................................ad No 11, 2016
s 1619 ............................................ad No 11, 2016
s 1620 ............................................ad No 11, 2016
Division 4
s 1621 ............................................ad No 11, 2016
Division 5
s 1622 ............................................ad No 11, 2016
s 1623 ............................................ad No 11, 2016
s 1624 ............................................ad No 11, 2016
s 1625 ............................................ad No 11, 2016
s 1626 ............................................ad No 11, 2016
s 1627 ............................................ad No 11, 2016
s 1628 ............................................ad No 11, 2016
s 1629 ............................................ad No 11, 2016
s 1630 ............................................ad No 11, 2016
s 1631 ............................................ad No 11, 2016
s 1632 ............................................ad No 11, 2016
s 1633 ............................................ad No 11, 2016
Division 6
s 1634 ............................................ad No 11, 2016
Part 10.26
Part 10.26.......................................ad No 11, 2016
s 1635 ............................................ad No 11, 2016
Part 10.28
Part 10.28.......................................ad No 25, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 591
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 1636A..........................................ad No 25, 2017
s 1637 ............................................ad No 25, 2017
Schedule 2
Schedule 2......................................rep No 122, 2001
ad No 11, 2016
Part 1
Division 1
s 1-1 ...............................................ad No 11, 2016
s 1-5 ...............................................ad No 11, 2016
Division 5
Subdivision A
s 5-1 ...............................................ad No 11, 2016
Subdivision B
s 5-5 ...............................................ad No 11, 2016
Subdivision C
s 5-10 .............................................ad No 11, 2016
s 5-15 .............................................ad No 11, 2016
s 5-20 .............................................ad No 11, 2016
s 5-25 .............................................ad No 11, 2016
s 5-26 .............................................ad No 11, 2016
s 5-27 .............................................ad No 11, 2016
s 5-30 .............................................ad No 11, 2016
Part 2
Division 10
s 10-1 .............................................ad No 11, 2016
s 10-5 .............................................ad No 11, 2016
Division 15
s 15-1 .............................................ad No 11, 2016
Division 20
Subdivision A
s 20-1 .............................................ad No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
592 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision B
s 20-5 .............................................ad No 11, 2016
s 20-10 ...........................................ad No 11, 2016
s 20-15 ...........................................ad No 11, 2016
s 20-20 ...........................................ad No 11, 2016
s 20-25 ...........................................ad No 11, 2016
s 20-30 ...........................................ad No 11, 2016
s 20-35 ...........................................ad No 11, 2016
Subdivision C
s 20-40 ...........................................ad No 11, 2016
s 20-45 ...........................................ad No 11, 2016
s 20-50 ...........................................ad No 11, 2016
s 20-55 ...........................................ad No 11, 2016
s 20-60 ...........................................ad No 11, 2016
s 20-65 ...........................................ad No 11, 2016
Subdivision D
s 20-70 ...........................................ad No 11, 2016
s 20-75 ...........................................ad No 11, 2016
Subdivision E
s 20-80 ...........................................ad No 11, 2016
Division 25
s 25-1 .............................................ad No 11, 2016
Division 30
s 30-1 .............................................ad No 11, 2016
Division 35
s 35-1 .............................................ad No 11, 2016
s 35-5 .............................................ad No 11, 2016
Division 40
Subdivision A
s 40-1 .............................................ad No 11, 2016
Subdivision B
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 593
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 40-5 .............................................ad No 11, 2016
s 40-10 ...........................................ad No 11, 2016
s 40-15 ...........................................ad No 11, 2016
Subdivision C
s 40-20 ...........................................ad No 11, 2016
Subdivision D
s 40-25 ...........................................ad No 11, 2016
am No 45, 2017
s 40-30 ...........................................ad No 11, 2016
am No 45, 2017
s 40-35 ...........................................ad No 11, 2016
Subdivision E
s 40-40 ...........................................ad No 11, 2016
s 40-45 ...........................................ad No 11, 2016
s 40-50 ...........................................ad No 11, 2016
s 40-55 ...........................................ad No 11, 2016
s 40-60 ...........................................ad No 11, 2016
s 40-65 ...........................................ad No 11, 2016
Subdivision F
s 40-70 ...........................................ad No 11, 2016
s 40-75 ...........................................ad No 11, 2016
s 40-80 ...........................................ad No 11, 2016
s 40-85 ...........................................ad No 11, 2016
s 40-90 ...........................................ad No 11, 2016
s 40-95 ...........................................ad No 11, 2016
Subdivision G
s 40-100 .........................................ad No 11, 2016
s 40-105 .........................................ad No 11, 2016
s 40-110 .........................................ad No 11, 2016
am No 55, 2017
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
594 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision H
s 40-111 .........................................ad No 11, 2016
Division 45
s 45-1 .............................................ad No 11, 2016
s 45-5 .............................................ad No 11, 2016
Division 50
s 50-1 .............................................ad No 11, 2016
s 50-5 .............................................ad No 11, 2016
s 50-10 ...........................................ad No 11, 2016
s 50-15 ...........................................ad No 11, 2016
s 50-20 ...........................................ad No 11, 2016
s 50-25 ...........................................ad No 11, 2016
s 50-30 ...........................................ad No 11, 2016
s 50-35 ...........................................ad No 11, 2016
Part 3
Division 55
s 55-1 .............................................ad No 11, 2016
Division 60
Subdivision A
s 60-1 .............................................ad No 11, 2016
Subdivision B
s 60-2 .............................................ad No 11, 2016
s 60-5 .............................................ad No 11, 2016
s 60-10 ...........................................ad No 11, 2016
s 60-11 ...........................................ad No 11, 2016
s 60-12 ...........................................ad No 11, 2016
s 60-15 ...........................................ad No 11, 2016
Subdivision C
s 60-16 ...........................................ad No 11, 2016
Subdivision D
s 60-17 ...........................................ad No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 595
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Subdivision E
s 60-20 ...........................................ad No 11, 2016
am No 55, 2017
Division 65
s 65-1 .............................................ad No 11, 2016
s 65-5 .............................................ad No 11, 2016
s 65-10 ...........................................ad No 11, 2016
s 65-15 ...........................................ad No 11, 2016
s 65-20 ...........................................ad No 11, 2016
s 65-25 ...........................................ad No 11, 2016
s 65-40 ...........................................ad No 11, 2016
s 65-45 ...........................................ad No 11, 2016
s 65-50 ...........................................ad No 11, 2016
Division 70
Subdivision A
s 70-1 .............................................ad No 11, 2016
Subdivision B
s 70-5 .............................................ad No 11, 2016
s 70-6 .............................................ad No 11, 2016
am No 55, 2017
Subdivision C
s 70-10 ...........................................ad No 11, 2016
s 70-15 ...........................................ad No 11, 2016
s 70-20 ...........................................ad No 11, 2016
s 70-25 ...........................................ad No 11, 2016
s 70-30 ...........................................ad No 11, 2016
s 70-31 ...........................................ad No 11, 2016
s 70-35 ...........................................ad No 11, 2016
s 70-36 ...........................................ad No 11, 2016
Subdivision D
s 70-40 ...........................................ad No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
596 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 70-45 ...........................................ad No 11, 2016
s 70-46 ...........................................ad No 11, 2016
s 70-47 ...........................................ad No 11, 2016
s 70-50 ...........................................ad No 11, 2016
Subdivision E
s 70-55 ...........................................ad No 11, 2016
Subdivision F
s 70-60 ...........................................ad No 11, 2016
Subdivision G
s 70-65 ...........................................ad No 11, 2016
s 70-70 ...........................................ad No 11, 2016
s 70-75 ...........................................ad No 11, 2016
s 70-80 ...........................................ad No 11, 2016
s 70-85 ...........................................ad No 11, 2016
s 70-90 ...........................................ad No 11, 2016
Division 75
s 75-1 .............................................ad No 11, 2016
s 75-5 .............................................ad No 11, 2016
s 75-10 ...........................................ad No 11, 2016
s 75-15 ...........................................ad No 11, 2016
s 75-20 ...........................................ad No 11, 2016
s 75-25 ...........................................ad No 11, 2016
s 75-30 ...........................................ad No 11, 2016
s 75-35 ...........................................ad No 11, 2016
s 75-40 ...........................................ad No 11, 2016
s 75-41 ...........................................ad No 11, 2016
s 75-42 ...........................................ad No 11, 2016
s 75-43 ...........................................ad No 11, 2016
s 75-44 ...........................................ad No 11, 2016
s 75-45 ...........................................ad No 11, 2016
s 75-50 ...........................................ad No 11, 2016
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 597
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
Division 80
s 80-1 .............................................ad No 11, 2016
s 80-5 .............................................ad No 11, 2016
s 80-10 ...........................................ad No 11, 2016
s 80-15 ...........................................ad No 11, 2016
s 80-20 ...........................................ad No 11, 2016
s 80-25 ...........................................ad No 11, 2016
s 80-26 ...........................................ad No 11, 2016
s 80-27 ...........................................ad No 11, 2016
s 80-30 ...........................................ad No 11, 2016
s 80-35 ...........................................ad No 11, 2016
s 80-40 ...........................................ad No 11, 2016
s 80-45 ...........................................ad No 11, 2016
s 80-50 ...........................................ad No 11, 2016
s 80-55 ...........................................ad No 11, 2016
s 80-60 ...........................................ad No 11, 2016
s 80-65 ...........................................ad No 11, 2016
s 80-70 ...........................................ad No 11, 2016
Division 85
s 85-1 .............................................ad No 11, 2016
s 85-5 .............................................ad No 11, 2016
Division 90
Subdivision A
s 90-1 .............................................ad No 11, 2016
Subdivision B
s 90-5 .............................................ad No 11, 2016
s 90-10 ...........................................ad No 11, 2016
s 90-15 ...........................................ad No 11, 2016
s 90-20 ...........................................ad No 11, 2016
s 90-21 ...........................................ad No 11, 2016
Subdivision C
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
598 Corporations Act 2001
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
s 90-22 ...........................................ad No 11, 2016
s 90-23 ...........................................ad No 11, 2016
s 90-24 ...........................................ad No 11, 2016
s 90-25 ...........................................ad No 11, 2016
s 90-26 ...........................................ad No 11, 2016
s 90-27 ...........................................ad No 11, 2016
s 90-28 ...........................................ad No 11, 2016
s 90-29 ...........................................ad No 11, 2016
Subdivision D
s 90-30 ...........................................ad No 11, 2016
s 90-35 ...........................................ad No 11, 2016
Part 4
Division 95
s 95-1 .............................................ad No 11, 2016
Division 100
s 100-5 ...........................................ad No 11, 2016
s 100-6 ...........................................ad No 11, 2016
Division 105
s 105-1 ...........................................ad No 11, 2016
Schedule 3
Schedule 3......................................am No 55, 2001; No 117, 2001; No 122, 2001; No 123, 2001; No 24,
2003; No 116, 2003; No 141, 2003; No 103, 2004; No 85, 2007; No
101, 2007; No 132, 2007; No 149, 2007; No 154, 2007; No. 146, 2008;
No 108, 2009; No 115, 2009; No 66, 2010; No 131, 2010; No 24, 2011;
No 42, 2011; No 68, 2012; No 72, 2012; No 118, 2012; No 155, 2012;
No 171, 2012; No 178, 2012; No 180, 2012; No 11, 2016; No 7, 2017;
No 17, 2017
Schedule 4
Part 5
c 29 ................................................am No 122, 2001
c 32 ................................................am No 122, 2001
Part 6
Authorised Version C2017C00210 registered 06/07/2017
Endnotes
Endnote 4—Amendment history
Corporations Act 2001 599
Compilation No. 79 Compilation date: 1/7/17 Registered: 6/7/17
Provision affected How affected
c 36 ................................................am No 116, 2003
Authorised Version C2017C00210 registered 06/07/2017