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ویرایش:
نویسندگان: Dr Robert (Bob) Austin. Hon. Justice Ashley Black
سری:
ناشر: Lexis Nexis
سال نشر: 2022
تعداد صفحات: 2234
زبان: English
فرمت فایل : PDF (درصورت درخواست کاربر به PDF، EPUB یا AZW3 تبدیل می شود)
حجم فایل: 27 Mb
در صورت تبدیل فایل کتاب Austin & Black's Annotations to the Corporations Act July 2022 به فرمت های PDF، EPUB، AZW3، MOBI و یا DJVU می توانید به پشتیبان اطلاع دهید تا فایل مورد نظر را تبدیل نمایند.
توجه داشته باشید کتاب حاشیه نویسی آستین و بلک به قانون شرکت ها ژوئیه 2022 نسخه زبان اصلی می باشد و کتاب ترجمه شده به فارسی نمی باشد. وبسایت اینترنشنال لایبرری ارائه دهنده کتاب های زبان اصلی می باشد و هیچ گونه کتاب ترجمه شده یا نوشته شده به فارسی را ارائه نمی دهد.
Austin & Black's Annotations to the Corporations Act LATEST UPDATES JULY 2022 Commentary: MAY 2022 Commentary: JANUARY 2022 Commentary: SEPTEMBER 2021 Commentary: JULY 2021 Commentary: APRIL 2021 Commentary: MARCH 2021 Commentary: JANUARY 2021 Commentary: AUGUST 2020 Commentary: JULY 2020 Commentary: MARCH 2020 Commentary: FEBRUARY 2020 Commentary: DECEMBER 2019 Commentary: NOVEMBER 2019 Commentary: SEPTEMBER 2019 Commentary: APRIL 2019 Commentary: MARCH 2019 Commentary: FEBRUARY 2019 Commentary: JANUARY 2019 Commentary: The following cases were included: OCTOBER 2018 Commentary: The following cases were included: AUGUST 2018 Commentary: JULY 2018 Commentary: JUNE 2018 Commentary: APRIL 2018 Commentary: MARCH 2018 Commentary: MARCH 2018 Commentary: HARDCOPY SERVICE 25 — JUNE 2017 The following chapters have been reviewed and updated in this service: HARDCOPY SERVICE 24 — FEBRUARY 2017 The following chapters have been reviewed and updated in this service: HARDCOPY SERVICE 23 — SEPTEMBER 2016 The following chapters have been reviewed and updated in this service: HARDCOPY SERVICE 22 — MAY 2016 The following chapters have been reviewed and updated in this service: HARDCOPY SERVICE 21 — DECEMBER 2015 The following chapters have been reviewed and updated in this service: HARDCOPY SERVICE 20 — AUGUST 2015 The following chapters have been reviewed and updated in this service: HARDCOPY SERVICE 19 — MARCH 2015 The following chapters have been reviewed and updated in this service: Index HARDCOPY SERVICE 18 — DECEMBER 2014 The following chapters have been reviewed and updated in this service: HARDCOPY SERVICE 17 — NOVEMBER 2014 The following chapters have been reviewed and updated in this service: HARDCOPY SERVICE 16 — OCTOBER 2014 The following chapters have been reviewed and updated in this service: HARDCOPY SERVICE 15 — JUNE 2014 HARDCOPY SERVICE 14 — JANUARY 2014 HARDCOPY SERVICE 13 — OCTOBER 2013 HARDCOPY SERVICE 12 — JUNE 2013 HARDCOPY SERVICE 11 — APRIL 2013 HARDCOPY SERVICE 10 — NOVEMBER 2012 Abbreviations Chapter 1 — Introductory [ss 3–111K] Preliminary notes on the Criminal Code [1.CC] Preliminary notes on the Criminal Code [Current to July 2022] Elements of offences Physical elements Fault elements Strict liability offence Accessory liability Part 1.1 — Preliminary [ss 3–5C] [1.3] Constitutional basis for the Corporations Act — Annotations to section 3 [Current to July 2022] Key principles Definitions and cross-references Texts and literature [1.4] Referring states — Annotations to section 4 [Current to July 2022] Key principles Texts and literature [1.5] General territorial application of the Corporations Act — Annotations to section 5 [Current to July 2022] Key principles Instruments and class orders Texts and literature [1.5A] Application to the Crown — Annotations to section 5A [Current to July 2022] Key principles [1.5B] ASIC has general administration of the Corporations Act — Annotations to section 5B [Current to July 2022] Key principles [1.5C] Application of the Acts Interpretation Act 1901 — Annotations to section 5C [Current to July 2022] Key principles History and explanatory materials Texts and literature Part 1.1A — Interaction between Corporations legislation and State and Territory laws [ss 5E–5G] [1.5E] Concurrent operation intended — Annotations to section 5E [Current to July 2022] Key principles Texts and literature [1.5F] Corporations legislation does not apply to matters declared by State or Territory law to be an excluded matter — Annotations to section 5F [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.5G] Avoiding direct inconsistency arising between the Corporations legislation and state and territory laws — Annotations to section 5G [Current to July 2022] Key principles Texts and literature Part 1.2 — Interpretation [ss 7–109X] Division 1 — General [ss 7–9B] [1.7] Dictionary — Location of other interpretation provisions [Current to July 2022] Key principles [1.9] Dictionary — Annotations to section 9 [Current to July 2022] "Accounting standard" Key principles Cross-references History and explanatory material Texts and literature "administration" Key principles History and explanatory materials Texts and literature "administrator" Key principles History and explanatory materials Texts and literature "AGM" Key principles Cross-references History and explanatory materials Texts and literature "arbitrage transaction" Key principles History and explanatory materials Texts and literature "arrangement" Key principles History and explanatory materials Texts and literature "audit" Cross-references History and explanatory materials Texts and literature "audit-critical employee" Cross-references History and explanatory materials Texts and literature "Australian ADI" History and explanatory materials "Australian financial services licence" Key principles History and explanatory materials Texts and literature "Australian market licence" Key principles History and explanatory materials Texts and literature "banking corporation" Key principles History and explanatory materials Texts and literature "base salary" Instruments and class orders "benefit" Key principles Cross-references "bid class" Cross-references History and explanatory materials Texts and literature "bidder" History and explanatory materials Texts and literature "bidder's statement" Key principles History and explanatory materials Texts and literature "bid period" Key principles History and explanatory materials Texts and literature "body corporate" Key principles History and explanatory materials Texts and literature "books" Key principles History and explanatory materials Texts and literature "borrower" Key principles History and explanatory materials Texts and literature "cash management trust interest" History and explanatory materials Texts and literature "Chapter 5 body corporate" Key principles History and explanatory materials "charge" Key principles Whether an arrangement is a charge Whether a charge can be created over a debtor's own debt Retention of title clauses History and explanatory materials Texts and literature "civil penalty order" Key principles History and explanatory materials Texts and literature "civil penalty provision" Key principles History and explanatory materials Texts and literature "class" Key principles History and explanatory materials Texts and literature "close associate" Key principles "closely related party" Key principles Cross-references History and explanatory materials "company" Key principles History and explanatory materials Texts and literature "company limited by guarantee" Key principles History and explanatory materials Texts and literature "company limited by shares" Key principles History and explanatory materials Texts and literature "connected entity" Key principles Cross-references History and explanatory materials Texts and literature "consolidated entity" Key principles History and explanatory materials Texts and literature "constitution" Key principles History and explanatory materials Texts and literature "continuous disclosure notice" Key principles History and explanatory materials Texts and literature "continuously quoted securities" History and explanatory materials Instruments and class orders "contribution plan" Key principles Cross-references History and explanatory materials Texts and literature "contributory" Key principles History and explanatory materials Texts and literature "control day" Cross-references History and explanatory materials Texts and literature "controller" Key principles Cross-references History and explanatory materials Texts and literature "convertible note" Key principles History and explanatory materials Instruments and class orders Texts and literature "corporate collective investment vehicle" Key principles History and explanatory materials "corporation/scheme civil penalty provision" Key principles History and explanatory materials Texts and literature "creditors' voluntary winding up" Key principles History and explanatory materials History and explanatory materials "dealing" Key principles History and explanatory materials Texts and literature "debenture" Key principles Cross-references History and explanatory materials Texts and literature "decision period" Key principles History and explanatory materials Texts and literature "declaration of indemnities" Key principles Cross-references History and explanatory materials "declaration of relevant relationships" History and explanatory materials "deed of company arrangement" Key principles History and explanatory materials Texts and literature "defeating condition" Key principles History and explanatory materials Texts and literature "defect" Key principles History and explanatory materials Texts and literature "deregistered" Cross-references History and explanatory materials Texts and literature "derivative" Key principles History and explanatory materials Texts and literature "director" Key principles De facto director Shadow director Exclusion of professional advisers Cross-references History and explanatory materials Texts and literature "dispose" Key principles History and explanatory materials Texts and literature "eligible applicant" Cross-references History and explanatory materials Texts and literature "eligible employee creditor" Cross-references History and explanatory materials "eligible employee share scheme" Key principles Cross-references History and explanatory materials "eligible money market dealer" Key principles History and explanatory materials Texts and literature "emoluments" Key principles History and explanatory materials Texts and literature "employee share scheme" Key principles Cross-references History and explanatory materials Texts and literature "employee share scheme buy-back" Cross-references History and explanatory materials Texts and literature "enforce" Key principles Cross-references History and explanatory materials Texts and literature "enforcement process" Cross-references History and explanatory materials Texts and literature "engage in audit activity" Texts and literature "engage in conduct" Cross-references History and explanatory materials Texts and literature "enter into" Key principles History and explanatory materials Texts and literature "entity" Key principles History and explanatory materials Texts and literature "equal access scheme" Key principles History and explanatory materials Texts and literature "examinable affairs" Key principles Cross-references History and explanatory materials Texts and literature "examinable assets and liabilities" History and explanatory materials Texts and literature "examinable operations" Cross-references Texts and literature "excluded security" Cross-references History and explanatory materials Texts and literature "exempt public authority" Key principles History and explanatory materials Texts and literature "expert" Cross-references History and explanatory materials Texts and literature "extraordinary resolution" Key principles History and explanatory materials Texts and literature "financial benefit" Key principles History and explanatory materials Texts and literature "financial corporation" Key principles History and explanatory materials Texts and literature "financial market" Key principles Cross-references History and explanatory materials Texts and literature "financial product" Key principles Cross-references History and explanatory materials Texts and literature "financial records" Key principles Cross-references History and explanatory materials Texts and literature "financial report" History and explanatory materials Texts and literature "financial service" Key principles History and explanatory materials Texts and literature "financial services business" Key principles History and explanatory materials Texts and literature "financial services civil penalty provision" Key principles History and explanatory materials Texts and literature "financial services licensee" Key principles History and explanatory materials Texts and literature "financial statements" Key principles History and explanatory materials Texts and literature "financial year" Key principles History and explanatory materials Texts and literature "floating charge" Key principles Cross-references History and explanatory materials Texts and literature "foreign company" Cross-references History and explanatory materials Texts and literature "franchise" Key principles History and explanatory materials Texts and literature "group executives" Key principles Cross-references History and explanatory materials "holding company" Key principles History and explanatory materials Texts and literature "immediate family member" Key principles Texts and literature "insolvent transaction" Key principles History and explanatory materials Texts and literature "interest" Key principles History and explanatory materials Texts and literature "investment in a company, disclosing entity or other body" Key principles Texts and literature "investment in a registered scheme" Key principles Texts and literature "investment contract" Key principles History and explanatory materials Texts and literature "key management personnel" Cross-references History and explanatory materials "lease" Key principles History and explanatory materials "limited company" Key principles History and explanatory materials Texts and literature "liquidator" History and explanatory materials "listing rules" Key principles History and explanatory materials Texts and literature "managed investment product" Key principles History and explanatory materials Texts and literature "managed investment scheme" Key principles History and explanatory materials Instruments and class orders Texts and literature "managing controller" Cross-references History and explanatory materials Texts and literature "marketable securities" History and explanatory materials Texts and literature "market bid" Key principles History and explanatory materials Texts and literature "member" Key principles "members' voluntary winding up" Key principles History and explanatory materials Texts and literature "mining purposes" Key principles History and explanatory materials Texts and literature "misconduct" Key principles "no liability company" Key principles History and explanatory materials Texts and literature "offer information statement" Key principles History and explanatory materials Texts and literature "offer period" Key principles History and explanatory materials Texts and literature "officer" Key principles History and explanatory materials Texts and literature "off-market bid" Key principles History and explanatory materials Texts and literature "operating rules" Key principles History and explanatory materials Texts and literature "Part 5.1 body" Cross-references History and explanatory materials Texts and literature "Part 5.7 body" Key principles History and explanatory materials Texts and literature "participant" Key principles History and explanatory materials Texts and literature "pooling determination" Key principles History and explanatory materials "pooling order" Key principles History and explanatory materials "prescribed financial market" Cross-references History and explanatory materials Instruments and class orders Texts and literature "Product Disclosure Statement" Key principles History and explanatory materials Texts and literature "professional accounting body" Key principles History and explanatory materials "professional employee" Key principles Texts and literature "professional investor" Key principles History and explanatory materials Instruments and class orders Texts and literature "profile statement" Key principles History and explanatory materials Texts and literature "property" Key principles "proportional takeover bid" Key principles History and explanatory materials Texts and literature "prospectus" Key principles History and explanatory materials Texts and literature "providing finance" Key principles History and explanatory materials Texts and literature "provisional liquidator" History and explanatory materials "public company" Cross-references History and explanatory materials Texts and literature "qualified accountant" History and explanatory materials Instruments and class orders Texts and literature "quotation" Key principles History and explanatory materials Texts and literature "receiver" History and explanatory materials "receiver and manager" History and explanatory materials "redeemable preference share" Key principles History and explanatory materials Texts and literature "registered body" Cross-references Texts and literature "registered company auditor" Cross-references History and explanatory materials Texts and literature "registered foreign company" Cross-references History and explanatory materials Texts and literature "registered liquidator" Texts and literature "registered office" Key principles History and explanatory materials Texts and literature "registered scheme" History and explanatory materials Texts and literature "registrable Australian body" Key principles History and explanatory materials Texts and literature "registrable body" History and explanatory materials Texts and literature "related entity" Cross-references History and explanatory materials Texts and literature "relation-back day" "relevant agreement" Key principles History and explanatory materials Texts and literature "relevant date" Key principles History and explanatory materials Texts and literature "relevant financial market" Cross-references History and explanatory materials Texts and literature "relevant interest" Key principles History and explanatory materials Texts and literature "relevant market operator" Cross-references History and explanatory materials Texts and literature "remedial order" Key principles "remuneration" Key principles Cross-references History and explanatory materials "remuneration consultant" Key principles Cross-references History and explanatory materials "resolution" Key principles History and explanatory materials Texts and literature "resolution for voluntary winding up" Cross-references History and explanatory materials Texts and literature "responsible entity" Cross-references History and explanatory materials Texts and literature "responsible officer" Cross-references History and explanatory materials Texts and literature "restructuring" Key principles "restructuring plan" Key principles "restructuring practitioner" Key principles "retention of title clause" Key principles History and explanatory materials "retirement village scheme" Key principles History and explanatory materials Texts and literature "rights issue" History and explanatory materials "scheme property" Key principles Cross-references Texts and literature "selective buy-back" Cross-references History and explanatory materials Texts and literature "senior manager" Key principles History and explanatory materials Instruments and class orders Texts and literature "serious fraud" Key principles History and explanatory materials Texts and literature "special resolution" Key principles "statutory demand" Key principles History and explanatory materials Texts and literature "substantial holding" Key principles Cross-references "superannuation guarantee charge" Cross-references History and explanatory materials "superannuation guarantee shortfall" Cross-references History and explanatory materials "target" Cross-references History and explanatory materials Texts and literature "target's statement" Cross-references History and explanatory materials Texts and literature "this jurisdiction" Key principles History and explanatory materials Texts and literature "time-sharing scheme" Key principles Cross-references History and explanatory materials Texts and literature "trade" Key principles History and explanatory materials Texts and literature "transaction" Key principles Cross-references History and explanatory materials Texts and literature "ultimate holding company" Key principles Cross-references History and explanatory materials Texts and literature "uncommercial transaction" Key principles History and explanatory materials Texts and literature "undertaking" Cross-references History and explanatory materials "underwrite" Key principles History and explanatory materials Texts and literature "unfair loan" Key principles History and explanatory materials Texts and literature "unfair preference" Key principles History and explanatory materials Texts and literature "unit" Key principles Cross-references History and explanatory materials Texts and literature "unlimited company" Key principles History and explanatory materials Texts and literature "voting interest" Key principles "voting power" Key principles Cross-references History and explanatory materials Texts and literature "voting share" Key principles Cross-references History and explanatory materials Texts and literature "wages" Key principles Cross-references History and explanatory materials Texts and literature "wholly owned subsidiary" Cross-references History and explanatory materials Texts and literature "winding up by the court" Cross-references History and explanatory materials Texts and literature [1.9AA] Meaning of "certain family relationships" — Annotations to section 9AA [Current to July 2022] Key principles Cross-references History and explanatory materials [1.9A] Meaning of "rights issue" — Annotations to section 9A [Current to July 2022] Key principles Cross-references History and explanatory materials Texts and literature [1.9B] Meaning of "remuneration recommendation" — Annotations to section 9B [Current to July 2022] Key principles Cross-references History and explanatory materials Division 2 — Associates [ss 10–17] [1.10] Effect of Division — Annotations to section 10 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.11] Associates of a body corporate — Annotations to section 11 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.12] "Associate" in relation to Chapters 6–6C and in relation to voting power and takeovers — Annotations to section 12 [Current to July 2022] Key principles Instruments and class orders History and explanatory materials Texts and literature [1.13] "Associate" in Chapter 7 — Annotations to section 13 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.15] Acting in concert and other associations — Annotations to section 15 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.16] Exclusions from the definition of "associate" — Annotations to section 16 [Current to July 2022] Key principles Instruments and class orders History and explanatory materials Texts and literature [1.17] Associates of composite person that carries on a financial services business — Annotations to section 17 Key principles History and explanatory materials Division 3 — Carrying on business [ss 18–21] [1.18] Carrying on business — Annotations to sections 18–21 [Current to July 2022] Key principles Carrying on a business Carrying on business in Australia, a state or territory Exceptions to carrying on business in Australia, a state or territory Cross-references History and explanatory materials Texts and literature Division 5A — Types of company [ss 45A–45B] [1.45A] Proprietary companies — Annotations to section 45A [Current to July 2022] Key principles Concept of proprietary company Small and large proprietary companies History and explanatory materials Texts and literature [1.45B] Small companies limited by guarantees — Annotations to section 45B [Current to July 2022] Key principles History and explanatory materials Division 6 — Subsidiaries and related bodies corporate [ss 46–50AA] [1.46] What is a subsidiary? — Annotations to section 46 [Current to July 2022] Key principles Cross-references History and explanatory materials Texts and literature [1.47] Control of the board — Annotations to section 47 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.48] Matters disregarded in determining whether a body corporate is a subsidiary — Annotations to section 48 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.49] References in this Division to a subsidiary — Annotations to section 49 [Current to July 2022] Key principles [1.50] Related body corporate — Annotations to section 50 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.50AAA] Associated entity — Annotations to section 50AAA [Current to July 2022] Key principles Definitions and cross references History and explanatory materials Texts and literature [1.50AA] Control — Annotations to section 50AA [Current to July 2022] Key principles History and explanatory materials Texts and literature Division 6A — Security interests [ss 51–51F] [1.51] Meaning of PPSA security interest — Annotations to section 51 [Current to July 2022] Key principles History and explanatory materials [1.51A] Meaning of security interest — Annotations to section 51A [Current to July 2022] Key principles History and explanatory materials [1.51B] Meaning of secured party — Annotations to section 51B [Current to July 2022] Key principles History and explanatory materials [1.51C] Meaning of circulating security interest — Annotations to section 51C [Current to July 2022] Key principles History and explanatory materials [1.51D] Meaning of possessory security interest — Annotations to section 51D [Current to July 2022] Key principles History and explanatory materials [1.51E] Meaning of secured creditor — Annotations to section 51E [Current to July 2022] Key principles History and explanatory materials [1.51F] Meaning of PPSA retention of title property — Annotations to section 51F [Current to July 2022] Key principles History and explanatory materials [1.51M] Mutual entities — Annotations to section 51M [Current to July 2022] Key principles History and explanatory materials Division 7 — Interpretation of other expressions [ss 53–95A] [1.53] Affairs of a body corporate (other than a CCIV) — Annotations to section 53 [Current to July 2022] Key principles Cross-references History and explanatory materials Instruments and class orders Texts and literature [1.53AAA] Affairs of a CCIV — Annotations to section 53AAA [Current to July 2022] Key principles History and explanatory materials [1.53AA] Business affairs — Annotations to sections 53AA–53AD [Current to July 2022] Cross-references History and explanatory materials Texts and literature [1.57] Classes of shares or interests in managed investment schemes — Annotations to section 57 [Current to July 2022] Key principles Cross-references History and explanatory materials Texts and literature [1.57A] Meaning of "corporation" — Annotations to section 57A [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.58AA] Meaning of "court" and "Court" — Annotations to section 58AA [Current to July 2022] Key principles Cross-references History and explanatory materials Texts and literature [1.60] Declaration of relevant relationships — Annotations to section 60 [Current to July 2022] Key principles History and explanatory materials [1.64] Entering into a transaction in relation to shares or securities — Annotations to section 64 [Current to July 2022] Key principles Cross-references History and explanatory materials Texts and literature [1.64A] Entities — Annotations to section 64A [Current to July 2022] Cross-references History and explanatory materials Texts and literature [1.64B] Entities connected with a corporation — Annotations to section 64B [Current to July 2022] Cross-references History and explanatory materials [1.79] Involvement in contraventions — Annotations to section 79 [Current to July 2022] Key principles Aiding and abetting Inducing a contravention Knowing concern Substantive provisions History and explanatory materials Texts and literature [1.82] Offers and invitations to the public — Annotations to section 82 [Current to July 2022] History and explanatory materials Texts and literature [1.83] Officers and other persons in default — Annotations to section 83 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.86] Possession — Annotations to section 86 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.88A] Public document of a body corporate — Annotations to section 88A [Current to July 2022] Cross-references History and explanatory materials Texts and literature [1.88B] Qualified accountant — Annotations to section 88B [Current to July 2022] Key principles Instruments and class orders History and explanatory materials [1.89] Qualified privilege — Annotations to section 89 [Current to July 2022] Key principles Cross-references History and explanatory materials Texts and literature [1.90] Receivers and managers — Annotations to section 90 [Current to July 2022] Key principles Functions of receivers and managers General law and statutory duties Texts and literature [1.91] Relation-back day — Annotations to section 91 Key principles History and explanatory materials Texts and literature [1.92] Securities — Annotations to section 92 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.95A] Solvency and insolvency — Annotations to section 95A [Current to July 2022] Key principles Application of cashflow test Matters relevant to solvency Monies which may be taken into account History and explanatory materials Texts and literature Division 8 — Miscellaneous interpretation rules [ss 100A–109X] [1.100A] Operation of certain laws relating to instruments on which stamp duty has not been paid — Annotations to section 100A [Current to July 2022] Key principles [1.103] Effect of certain contraventions of this Act — Annotations to section 103 [Current to July 2022] Key principles Cross-references Texts and literature [1.105] Calculation of time — Annotations to section 105 [Current to July 2022] Key principles History and explanatory materials Texts and literature [1.105A] Electronic communications — Annotations to sections 105A–105B [Current to July 2022] Key principles History and explanatory materials [1.109] References to persons, things and matters — Annotations to section 109 [Current to July 2022] History and explanatory materials Texts and literature [1.109X] Service of documents — Annotations to section 109X [Current to July 2022] Key principles Scope of the section Requirements for effective service When service is not effective Time that service is effected Other methods of service Substituted service History and explanatory materials Texts and literature Division 7 — Interpretation of other expressions [ss 53–95A] [1.53] Affairs of a body corporate — Annotations to section 53 [Current to July 2019] Key principles Cross-references History and explanatory materials Instruments and class orders Texts and literature [1.53AA] Business affairs — Annotations to sections 53AA–53AD [Current to July 2019] Cross-references History and explanatory materials Texts and literature [1.57] Classes of shares or interests in managed investment schemes — Annotations to section 57 [Current to July 2019] Key principles Cross-references History and explanatory materials Texts and literature [1.57A] Meaning of "corporation" — Annotations to section 57A [Current to July 2019] Key principles History and explanatory materials Texts and literature [1.58AA] Meaning of "court" and "Court" — Annotations to section 58AA [Current to July 2019] Key principles Cross-references History and explanatory materials Texts and literature [1.60] Declaration of relevant relationships — Annotations to section 60 [Current to July 2019] Key principles History and explanatory materials [1.64] Entering into a transaction in relation to shares or securities — Annotations to section 64 [Current to July 2019] Key principles Cross-references History and explanatory materials Texts and literature [1.64A] Entities — Annotations to section 64A [Current to July 2019] Cross-references History and explanatory materials Texts and literature [1.64B] Entities connected with a corporation — Annotations to section 64B [Current to July 2019] Cross-references History and explanatory materials [1.79] Involvement in contraventions — Annotations to section 79 [Current to July 2019] Key principles Aiding and abetting Inducing a contravention Knowing concern Substantive provisions History and explanatory materials Texts and literature [1.82] Offers and invitations to the public — Annotations to section 82 [Current to July 2019] History and explanatory materials Texts and literature [1.83] Officers and other persons in default — Annotations to section 83 [Current to July 2019] Key principles History and explanatory materials Texts and literature [1.86] Possession — Annotations to section 86 [Current to July 2019] Key principles History and explanatory materials Texts and literature [1.88A] Public document of a body corporate — Annotations to section 88A [Current to July 2019] Cross-references History and explanatory materials Texts and literature [1.88B] Qualified accountant — Annotations to section 88B [Current to July 2019] Key principles Instruments and class orders History and explanatory materials [1.89] Qualified privilege — Annotations to section 89 [Current to July 2019] Key principles Cross-references History and explanatory materials Texts and literature [1.90] Receivers and managers — Annotations to section 90 [Current to July 2019] Key principles Functions of receivers and managers General law and statutory duties Texts and literature [1.91] Relation-back day — Annotations to section 91 Key principles History and explanatory materials Texts and literature [1.92] Securities — Annotations to section 92 [Current to July 2019] Key principles History and explanatory materials Texts and literature [1.95A] Solvency and insolvency — Annotations to section 95A [Current to July 2019] Key principles Application of cashflow test Matters relevant to solvency Monies which may be taken into account History and explanatory materials Texts and literature Division 8 — Miscellaneous interpretation rules [ss 100A–109X] [1.100A] Operation of certain laws relating to instruments on which stamp duty has not been paid — Annotations to section 100A [Current to July 2019] Key principles [1.103] Effect of certain contraventions of this Act — Annotations to section 103 [Current to July 2019] Key principles Cross-references Texts and literature [1.105] Calculation of time — Annotations to section 105 [Current to July 2019] Key principles History and explanatory materials Texts and literature [1.109] References to persons, things and matters — Annotations to section 109 [Current to July 2019] History and explanatory materials Texts and literature [1.109X] Service of documents — Annotations to section 109X [Current to July 2019] Key principles Scope of the section Requirements for effective service When service is not effective Time that service is effected Other methods of service Substituted service History and explanatory materials Texts and literature Part 1.2AA — Signing and sending documents [ss 110–110K] [1.110] Signing and sending documents — Annotations to sections 110–110K [Current to July 2022] Key principles History and explanatory materials Part 1.2A — Disclosing entities [ss 111AA–111AX] [1.111AA] Disclosing entities — Annotations to sections 111AA–111AX [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Part 1.5 — Small business guide [s 111J] [1.111J] Small business guide — Annotations to section 111J [Current to July 2022] Key principles History and explanatory materials Texts and literature Part 1.6 — Interaction with Australian Charities and Not-for profits Commission Act [ss 111K–111Q] [1.111K] Interaction with Australian Charities and Not-for profits Commission Act [Current to July 2022] Key principles History and explanatory materials Chapter 2A — Registering a Company [ss 112–123] Part 2A.1 — What companies can be registered [ss 112–116] [2A.112] Types of companies — Annotations to section 112 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2A.113] Proprietary companies — Annotations to section 113 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2A.114] Minimum of one member — Annotations to section 114 [Current to March 2021] Key principles Definitions and cross-references History and explanatory material Texts and literature [2A.115] Restrictions on size of partnerships and associations — Annotations to section 115 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2A.116] Trade unions cannot be registered — Annotations to section 116 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2A.2 — How a company is registered [ss 117–123] [2A.117] Applying for registration — Annotations to section 117 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2A.118] ASIC gives company ACN, registers company and issues certificate — Annotations to section 118 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2A.119] Company comes into existence on registration — Annotations to section 119 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2A.119A] Jurisdiction of incorporation and jurisdiction of registration — Annotations to section 119A [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2A.120] Members, directors and company secretary of a company — Annotations to section 120 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2A.121] Registered office — Annotations to section 121 [Current to March 2021] Key principles Definitions and cross-references [2A.122] Expenses incurred in promoting and setting up company — Annotations to section 122 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2A.123] Company may have common seal — Annotations to section 123 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature Chapter 2B — Basic Features of a Company [ss 124–167AA] Part 2B.1 — Company powers and how they are exercised [ss 124–127] [2B.124] Legal capacity and powers of a company — Annotations to section 124 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.125] Constitution may limit powers and set out objects — Annotations to section 125 [Current to March 2021] Key principles Definitions and cross-references [2B.126] Agent exercising a company's power to make contracts — Annotations to section 126 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.127] Execution of documents (including deeds) by the company itself — Annotations to section 127 [Current to March 2021] Key principles Corporations (Coronavirus Economic Response) Determination (No 1) and (No 3) 2020 Treasury Laws Amendment (2021 Measures No 1) Bill (2021 Measures No 1 Bill) Definitions and cross-references History and explanatory materials Texts and literature Part 2B.2 — Assumptions people dealing with companies are entitled to make [ss 128–130] [2B.128] Entitlement to make assumptions — Annotations to section 128 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.129] Assumptions that can be made under section 128 — Annotations to section 129 [Current to March 2021] Key principles Corporations (Coronavirus Economic Response) Determination (No 1) and (No 3) 2020 Treasury Laws Amendment (2021 Measures No 1) Bill Definitions and cross-references History and explanatory materials Texts and literature [2B.130] Information available to the public from ASIC does not constitute constructive notice — Annotations to section 130 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2B.3 — Contracts before registration [ss 131–133] [2B.131] Contracts before registration — Annotations to section 131 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.132] Person may be released from liability but is not entitled to indemnity — Annotations to section 132 [Current to March 2021] Key principles [2B.133] This Part replaces other rights and liabilities — Annotations to section 133 [Current to March 2021] Key principles Part 2B.4 — Replaceable rules and constitution [ss 134–141] [2B.134] Internal management of companies — Annotations to section 134 [Current to January 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.135] Replaceable rules — Annotations to section 135 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.136] Constitution of a company — Annotations to section 136 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.137] Date of effect of adoption, modification or repeal of constitution — Annotations to section 137 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.138] ASIC may direct company to lodge consolidated constitution — Annotations to section 138 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.139] Company must send copy of constitution to member — Annotations to section 139 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.140] Effect of constitution and replaceable rules — Annotations to section 140 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.141] Table of replaceable rules — Annotations to section 141 [Current to March 2021] Key principles Part 2B.5 — Registered office and places of business [ss 142–146A] [2B.142] Registered office — Annotations to section 142 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.143] ASIC may change address of registered office to a director's address — Annotations to section 143 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.144] Company's name must be displayed at registered office etc — Annotations to section 144 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.145] Opening hours of registered office of public company — Annotations to section 145 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.146] Change of address of principal place of business — Annotations to section 146 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.146A] Contact address — Annotations to section 146A [Current to March 2021] Key principles Definitions and her cross-references Part 2B.6 — Names [ss 147–161A] Division 1 — Selecting and using a name [ss 147–156] [2B.147] When a name is available — Annotations to section 147 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.148] A company's name — Annotations to section 148 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.149] Acceptable abbreviations — Annotations to section 149 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.150] Exception to requirement for using "Limited" in name — Annotations to section 150 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.151] Exception to requirement for using "Limited" in name — pre-existing licences — Annotations to section 151 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials [2B.152] Reserving a name — Annotations to section 152 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.153] Using a name and ACN on documents — Annotations to section 153 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.154] Exception to requirement to have ACN on receipts — Annotations to section 154 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.155] Regulations may exempt from requirement to set out information on documents — Annotations to section 155 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials [2B.156] Carrying on business using "Limited", "No Liability" or "Proprietary" in name — Annotations to section 156 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Division 2 — Changing a company's name [ss 157–161A] [2B.157] Company changing its name — Annotations to section 157 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.157A] Change of name of company under external administration — Annotations to section 157A [Current to March 2021] Key principles Definitions and cross-references [2B.158] ASIC's power to direct company to change its name — Annotations to section 158 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials [2B.159] ASIC's power to include "Limited" in company's name — Annotations to section 159 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.160] ASIC must issue new certificate if company's name changes — Annotations to section 160 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.161] Effect of name change — Annotations to section 161 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.161A] Company under external administration — former name to be used on documents — Annotations to section 161A [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Part 2B.7 — Changing company type [ss 162–167AA] [2B.162] Changing company type — Annotations to section 162 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.163] Applying for change of type — Annotations to section 163 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.164] ASIC changes type of company — Annotations to section 164 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.165] ASIC may direct a proprietary company to change to a public company in certain circumstances — Annotations to section 165 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.166] Effect of change of type — Annotations to section 166 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.167] Issue of shares by company or holding company — company limited by guarantee changing to company limited by shares — Annotations to section 167 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2B.167AA] Application of Part to company limited both by shares and by guarantee — Annotations to section 167AA [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2B.8 — Mutual capital instruments (MCIs) [ss 167AB–167AJ] Division 1 — Preliminary [s 167AB] [2B.167AB] Simplified outline of this Part — Annotations to section 167AB [Current to March 2021] Key principles Division 2 — MCI mutual entities and MCIs [ss 167AC–167AG] [2B.167AC] Meaning of MCI mutual entity — Annotations to section 167AC [Current to March 2021] Key principles [2B.167AD] Meaning of MCI — Annotations to section 167AD [Current to March 2021] Key principles [2B.167AE] MCI requirements — class rights — Annotations to section 167AE [Current to March 2021] Key principles [2B.167AF] MCI requirements — other requirements — Annotations to section 167AF [Current to March 2021] Key principles [2B.167AG] MCI must be cancelled before MCI mutual entity demutualises — Annotations to section 167AG [Current to March 2021] Key principles Division 3 — Special procedure for amending constitution of mutual entity that proposes to issue MCIs [ss 167AH–167AJ] [2B.167AH] Purpose and application of this Division — Annotations to section 167AH [Current to March 2021] Key principles [2B.167AI] MCI amendment resolution — Annotations to section 167AI [Current to March 2021] Key principles [2B.167AJ] Procedure for MCI amendment resolution — Annotations to section 167AJ [Current to March 2021] Key principles Chapter 2C — Registers [ss 167A–178D] Part 2C.1 — Registers generally [ss 167A–178] [2C.167A] Who is covered by this Chapter — Annotations to section 167A [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials [2C.168] Registers to be maintained — Annotations to section 168 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.169] Register of members — Annotations to section 169 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.170] Register of option holders and copies of options documents — Annotations to section 170 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.171] Register of debenture holders — Annotations to section 171 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.172] Location of registers — Annotations to section 172 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.173] Right to inspect and get copies — Annotations to section 173 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.174] Agent's obligations — Annotations to section 174 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.175] Correction of registers — Annotations to section 175 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.176] Evidentiary value of registers — Annotations to section 176 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.177] Use of information on registers — Annotations to section 177 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.178] Overseas branch registers — Annotations to section 178 [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.178AA] Overseas branch registers — Australian passport funds [Current to March 2021] Key principles Definitions and cross-references Texts and literature Part 2C.2 — Notice by proprietary companies of changes to member register [ss 178A–178D] [2C.178A] Notice of change to member register — Annotations to section 178A [Current to March 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2C.178B] Top 20 only — Annotations to section 178B [Current to March 2021] Definitions and cross-references [2C.178C] Notice of change to share structure — Annotations to section 178C [Current to March 2021] Key principles [2C.178D] Time within which ASIC must be notified — Annotations to section 178D [Current to March 2021] Key principles Chapter 2D — Officers and Employees [ss 179–206M] Part 2D.1 — Duties and powers [ss 179–198G] [2D.179] Background to duties of directors, other officers and employees — Annotations to section 179 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 1 — General duties [ss 180–190B] [2D.180] Care and diligence — civil obligation only — Annotations to section 180 [Current to July 2020] Key principles Scope of the section Where the company breaches the law Can the shareholders condone breach of s 180(1)? Particular phrases: "the corporation's circumstances", "the office held", "the same responsibilities" Statutory standard of care, compared with general law standard Standing to sue for breach of the statutory duty and the general law duty of care A note on the sources of the directors' duty of care in equity and at law Origin of the general law duty Is the directors' duty of care a fiduciary duty? Are there concurrent common law and equitable duties, and if so, why does it matter? The business judgment rule under ss 180(2) and (3) Consequences of a contravention Definitions and cross-references History and explanatory materials: Section 180(1) History of business judgment rule: Sections 180(2) and (3) Texts and literature [2D.181] Good faith — civil obligations — Annotations to section 181 [Current to July 2020] Key principles General law duty to act in good faith and in the company's best interests Is the equitable best interests duty a proscriptive fiduciary duty or a prescriptive duty? To what extent is the equitable best interests duty subjective? The general law proper purposes duty The statutory duties under s 181(1) The statutory proper purposes duty: s 181(1)(b) The statutory best interests duty: s 181(1)(a) Consequences of a contravention Definitions and cross-references History and explanatory materials Texts and literature [2D.182] Use of position — civil obligations — Annotations to section 182 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.183] Use of information — civil obligations — Annotations to section 183 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.184] Good faith, use of position and use of information — criminal offences — Annotations to section 184 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.185] Interaction of sections 180–184 with other laws etc — Annotations to section 185 [Current to July 2020] Key principles History and explanatory materials [2D.186] Territorial application of sections 180–184 — Annotations to section 186 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.187] Directors of wholly-owned subsidiaries — Annotations to section 187 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.188] Responsibility of secretaries and directors for certain contraventions — Annotations to section 188 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.189] Reliance on information or advice provided by others — Annotations to section 189 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.190] Responsibility for actions of delegate — Annotations to section 190 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.190A] Limited application of Division to registrable Australian bodies — Annotations to section 190A [Current to July 2020] Key principles [2D.190B] Division does not apply to Aboriginal and Torres Strait Islander corporations — Annotations to section 190B [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.190C] Division does not apply in relation to notified foreign passport funds or their operators — Annotations to section 190C [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Division 2 — Disclosure of, and voting on matters involving, material personal interests [ss 191–196] [2D.191] Material personal interest — director's duty to disclose — Annotations to section 191 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.192] Director may give other directors standing notice about an interest — Annotations to section 192 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.193] Interaction of sections 191 and 192 with other laws etc — Annotations to section 193 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.194] Voting and completion of transactions- directors of proprietary companies (replaceable rule — see section 135) — Annotations to section 194 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.195] Restrictions on voting — directors of public companies only — Annotations to section 195 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2D.196] ASIC power to make declarations and class orders — Annotations to section 196 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 3 — Duty to discharge certain trust liabilities [s 197] [2D.197] Directors liable for debts and other obligations incurred by corporation as trustee — Annotations to s 197 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials 197 Texts and literature Division 4 — Powers [ss 198A–198G] [2D.198A] Powers of directors (replaceable rule- see section 135) — Annotations to section 198A [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.198B] Negotiable instruments (replaceable rule- see section 135) — Annotations to section 198B [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.198C] Managing director (replaceable rule- see section 135) — Annotations to section 198C [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.198D] Delegation — Annotations to section 198D [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.198E] Single director/shareholder proprietary companies — Annotations to section 198E [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.198F] Right of access to company books — Annotations to section 198F [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.198G] Powers of officers — company under external administration [Current to July 2020] Key principles Effect of s 198G(1) Appeal against winding up order Exceptions to s 198G Receiver/receiver and manager Provisional liquidator Liquidators and administrators Definitions and cross-references History and explanatory materials Texts and literature Part 2D.2 — Restrictions on indemnities, insurance and termination payments [ss 199A–200J] Division 1 — Indemnities and Insurance for Officers and Auditors [ss 199A–199C] [2D.199A] Indemnification and exemption of officer or auditor — Annotations to section 199A [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.199B] Insurance premiums for certain liabilities of director, secretary other officer or auditor — Annotations to section 199B [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.199C] Certain indemnities, exemptions, payments and agreements not authorised and certain documents void — Annotations to section 199C [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Termination Payments [ss 200–200J] [2D.200] Interpreting this Division — Annotations to section 200 [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.200AA] Meaning of managerial or executive office — Annotations to section 200AA [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.200AB] Meaning of benefit — Annotations to section 200AB [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.200A] When benefit given in connection with retirement from an office or position — Annotations to section 200A [Current to July 2020] Key principles "Giving" a benefit Benefits "in connection with retirement" "Retirement" Definitions and cross-references History and explanatory materials Texts and literature [2D.200B] Retirement benefits generally need membership approval — Annotations to section 200B [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Cohen Committee's recommendations Early Australian legislation The National Co-operative Companies and Securities Scheme The 1985 amendments The CLERP Act 1999 The Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 The Corporations Amendment (Improving Accountability on Termination Payments) Act 2009 Transitional provisions to 2009 amendments 43 Texts and literature [2D.200C] Benefits on transfer of undertakings or property need membership approval — Annotations to section 200C [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.200D] Contravention to receive benefit without member approval — Annotations to section 200D [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.200E] Approval by members — Annotations to section 200E [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.200F] Exempt benefits and benefits given in certain circumstances — Annotations to section 200F [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.200G] Genuine payments of pension and lump sum — Annotations to section 200G [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.200H] Benefits required by law — Annotations to section 200H [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.200J] Benefits to be held on trust and repaid — Annotations to section 200J [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2D.3 — Appointment, Remuneration and Cessation of Appointment of Directors [ss 201A–203F] Division 1 — Appointment of Directors [ss 201A–201U] Subdivision A — General Rules [ss 201A–201M] [2D.201A] Minimum number of directors — Annotations to section 201A [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.201B] Who can be a director — Annotations to section 201B [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.201D] Consent to act as director — Annotations to section 201D [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.201E] Special rules for the appointment of public company directors — Annotations to section 201E [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.201F] Special rules for the appointment of directors for single director/single shareholder proprietary companies — Annotations to section 201F [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.201G] Company may appoint a director (replaceable rule — see section 135) — Annotations to section 201G [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.201H] Directors may appoint other directors (replaceable rule — see section 135) — Annotations to section 201H [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.201J] Appointment of managing directors (replaceable rule — see section 135) — Annotations to section 201J [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.201K] Alternate directors (replaceable rule — see section 135) — Annotations to section 201K [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.201L] ASIC to be notified of appointment — Annotations to section 201L [Current to July 2020] Key principles [2D.201M] Effectiveness of acts by directors — Annotations to section 201M [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature Subdivision B — Limits on numbers of directors of public companies [ss 201N–201U] [2D.201N] Application of Subdivision — Annotations to section 201N [Current to July 2020] Key principles Scope of Pt 2D Subdiv B Definitions and cross-references History and explanatory materials Texts and literature [2D.201P] Directors must not set board limit unless proposed limit has been approved by general meeting — Annotations to section 201P [Current to July 2020] Key principles Definitions and cross-references History and Explanatory Materials, Texts and References [2D.201Q] Requirements for explanatory statement to members — Annotations to section 201Q [Current to July 2020] Key principles Definitions and cross-references History and Explanatory Materials, Texts and References [2D.201R] Records of voting on board limit resolution if poll demanded — Annotations to section 201R [Current to July 2020] Key principles Definitions and cross-references History and Explanatory Materials, Texts and References [2D.201S] Notice of resolution to be lodged — Annotations to section 201S [Current to July 2020] Key principles Definitions and cross-references History and Explanatory Materials, Texts and References [2D.201T] Declaration by court of substantial compliance — Annotations to section 201T [Current to July 2020] Key principles Definitions and cross-references History and Explanatory Materials, Texts and References [2D.201U] Consequences of setting board limit in breach of section 201B — Annotations to section 201U [Current to July 2020] Key principles Definitions and cross-references History and Explanatory Materials, Texts and References Division 2 — Remuneration of Directors [ss 202A–202C] [2D.202A] Remuneration of directors (replaceable rule — see section 135) — Annotations to section 202A [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.202B] Members may obtain information about directors' remuneration — Annotations to section 202B [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.202C] Special rule for single director/single shareholder proprietary companies — Annotations to section 202C [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 3 — Resignation, Retirement or Removal of Directors [ss 203A–203F] [2D.203A] Director may resign by giving written notice to company (replaceable rule — see section 135) — Annotations to section 203A [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.203B] Signpost to consequences of disqualification from managing corporations — Annotations to section 203B [Current to July 2020] Key principles [2D.203C] Removal by members — proprietary companies (replaceable rule — see section 135) — Annotations to section 203C [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.203D] Removal by members — public companies — Annotations to section 203D [Current to July 2020] Key principles Problems with s 203D(2) Are subs 203D(2)–(6) mandatory, notwithstanding the provisions of the company's constitution? Replacing the director who is removed from office Strict liability Definitions and cross-references History and explanatory materials Texts and literature [2D.203E] Director cannot be removed by other directors — public companies — Annotations to section 203E [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.203F] Termination of appointment of managing director (replaceable rule — see section 135) — Annotations to section 203F [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2D.4 — Appointment of Secretaries [ss 204A–204G] [2D.204A] Minimum number of secretaries — Annotations to section 204A [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.204B] Who can be a secretary — Annotations to section 204B [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.204C] Consent to act as secretary — Annotations to section 204C [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.204D] How a secretary is appointed — Annotations to section 204D [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.204E] Effectiveness of acts by secretaries — Annotations to section 204E [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.204F] Terms and conditions of office for secretaries (replaceable rule- see section 135) — Annotations to section 204F [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.204G] Signpost to consequences of disqualification from managing corporations — Annotations to section 204G [Current to July 2020] Key principles Part 2D.5 — Public Information about Directors and Secretaries [ss 205A–205G] Division 1 — Appointment of Directors [ss 205A–205G] [2D.205A] Director, secretary or alternate director may notify ASIC of resignation or retirement — Annotations to s 205A [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.205B] Notice of name and address of directors and secretaries to ASIC — Annotations to s 205B [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.205C] Director and secretary must give information to company — Annotations to s 205C [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.205D] Address for officers — Annotations to s 205D [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.205E] ASIC's power to ask for information about person's position as director or secretary — Annotations to s 205E [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.205F] Director must give information to company — Annotations to section 205F [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.205G] Listed company — director to notify market operator of shareholdings etc — Annotations to section 205G [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 2D.6 — Disqualification From Managing Corporations [ss 206A–206HB] [2D.206A] Disqualified person not to manage corporations — Annotations to section 206A [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.206B] Automatic disqualification — Annotations to section 206B [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.206BA] Extension of the period of automatic disqualification — Annotations to section 206BA [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.206C] Court power of disqualification — contravention of civil penalty provision — Annotations to section 206C [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.206D] Court power of disqualification — insolvency and non-payment of debts — Annotations to section 206D [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.206E] Court power of disqualification — repeated contraventions of Act — Annotations to section 206E [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.206EAA] Court power of disqualification — disqualification under law of a foreign jurisdiction — Annotations to section 206EAA [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.206EAB] Court power of disqualification — unrecovered payments under employee entitlements scheme — Annotations to section 206EAB [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.206EA] Disqualification under the Competition and Consumer Act 2010 — Annotations to section 206EA [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.206EB] Disqualification under the ASIC Act [Current to July 2020] Key principles Definitions and cross-references [2D.206F] ASIC's power of disqualification — Annotations to section 206F [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.206GAA] ASIC's power of disqualification — unrecovered payments under employee entitlements scheme — Annotations to section 206GAA [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.206GAB] ASIC power to grant leave — Annotations to section 206GAB [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.206G] Court power to grant leave — Annotations to section 206G [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.206GA] Involvement of ACCC — leave orders under section 206G — Annotations to section 206GA [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.206H] Limited application of Part to foreign companies — Annotations to section 206H [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2D.206HAA] Limited application of Part to notified foreign passport funds and their operators — Annotations to section 206HAA [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.206HA] Limited application of Part to registrable Australian bodies — Annotations to section 206HA [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials [2D.206HB] Part does not apply to Aboriginal and Torres Strait Islander corporations — Annotations to section 206HB [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Part 2D.7— Ban on Hedging Remuneration of Key Management Personnel [s 206J] [2D.206J] No hedging of remuneration of key management personnel — Annotations to section 206J [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Part 2D.8— Remuneration Recommendations in Relation to Key Management Personnel for Disclosing Entities [ss 206K–206M] [2D.206K] Annotations to sections 206K, 206L and 206M [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Chapter 2E — Related Party Transactions [ss 207–230] [2E.207] Purpose — Annotations to section 207 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials The following notes relate to the history of the related parties provisions generally, not merely the statutory statement of the objects of those provisions Texts and literature Part 2E.1 — Member approval needed for related party benefit [ss 208–227] Division 1 — Need for member approval [ss 208–209] [2E.208] Need for member approval for financial benefit — Annotations to section 208 [Current to February 2019] Key principles An implied prohibition A public company or an entity that the public company controls Giving a financial benefit to a related party of the public company Member approval Onus of proof in respect of exceptions The giving of a benefit required by a contract ASX Listing Rules Definitions and cross-references History and explanatory materials Texts and literature [2E.209] Consequences of breach — Annotations to section 209 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Exceptions to the requirement for member approval [ss 210–216] [2E.210] Arm's length terms — Annotations to section 210 [Current to February 2019] Key principles ASIC's consultation paper Definitions and cross-references History and explanatory materials Texts and literature [2E.211] Remuneration and reimbursement for officer or employee — Annotations to section 211 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.212] Indemnities, exemptions, insurance premiums and payment for legal costs for officers — Annotations to section 212 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.213] Small amounts given to related entity — Annotations to section 213 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.214] Benefit to or by closely-held subsidiary — Annotations to section 214 [Current to February 2019] Key principles The entity that gives the benefit The entity that receives the benefit Closely-held subsidiary Definitions and cross-references History and explanatory materials Texts and literature [2E.215] Benefits to members that do not discriminate unfairly — Annotations to section 215 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.216] Court order — Annotations to section 216 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 3 — Procedure for obtaining member approval [ss 217–227] [2E.217] Resolution may specify matters by class or kind — Annotations to section 217 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.218] Company must lodge material that will be put to members with ASIC — Annotations to section 218 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.219] Requirements for explanatory statement to members — Annotations to section 219 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.220] ASIC may comment on proposed resolution — Annotations to section 220 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.221] Requirements for notice of meeting — Annotations to section 221 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.222] Other material put to members — Annotations to section 222 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.223] Proposed resolution cannot be varied — Annotations to section 223 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.224] Voting by or on behalf of related party interested in proposed resolution — Annotations to section 224 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.225] Voting on resolution — Annotations to section 225 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.226] Notice of resolution to be lodged — Annotations to section 226 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2E.227] Declaration by court of substantial compliance — Annotations to section 227 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2E.2 — Related parties and financial benefits [ss 228–229] [2E.228] Related parties — Annotations to section 228 [Current to February 2019] Key principles Controlling entities Directors and their spouses Relatives of directors and spouses Entities controlled by other related parties Acting in concert Related parties in the past or future Definitions and cross-references History and explanatory materials Texts and literature [2E.229] Giving a financial benefit — Annotations to section 229 [Current to February 2019] Key principles Rules of construction Giving a financial benefit includes certain matters Some statutory examples of giving a financial benefit to a related party Definitions and cross-references History and explanatory materials Texts and literature Part 2E.3 — Interaction with other rules [s 230] [2E.230] General duties still apply — Annotations to section 230 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Chapter 2F — Members' Rights and Remedies [ss 231–247E] Chapter 2F — Members' Rights and Remedies [ss 231–247E] [2F.231] Membership of a company — Annotations to section 231 [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2F.1 — Oppressive conduct of affairs [ss 232–235] [2F.232] Grounds for court order — Annotations to section 232 [Current to April 2019] Key principles Conduct of affairs, acts and omissions in relation to a "company" Trustee companies Oppressive, unfairly prejudicial, unfairly discriminatory, or contrary to the interests of the members as a whole Illustrations of oppressive or unfair conduct (i) Refusal by the directors (who are also the majority shareholders) to register transfers to outsiders (ii) Payment of an undue proportion of the profits of the company to the controllers (or their associates) as remuneration for their services, where there is a minority shareholder not entitled to remuneration (iii) Issue of shares by the directors to the disadvantage of the minority (iv) Directors passing on non-cumulative dividends for preference shareholders (v) Improper diversion of business or business opportunities (vi) Breach of fiduciary duty (vii) Improper exclusion from participation in management (viii) Denial of access to information (ix) Use of company funds to defend Pt 2F.1 proceedings Definitions and cross-references History and explanatory materials The Cohen Committee The Jenkins Committee Predecessor provisions in Australia Texts and literature [2F.233] Orders the court can make — Annotations to section 233 [Current to April 2019] Key principles Some notes on orders available under this section (a) That the company be wound up (b) That the company's existing constitution be modified or repealed [2F.233] Orders the court can make — Annotations to section 233 [Current to April 2019] Key principles (c) Regulating the conduct of the company's affairs in the future (d) For the purchase of any shares by any member or person to whom a share in the company has been transmitted by will or by operation of law (e) For the purchase of shares with an appropriate reduction of the company's share capital (f) For the company to institute, prosecute, defend or discontinue specified proceedings (g) Authorising a member, or a person to whom a share in the company has been transmitted by will or by operation of law, to institute, prosecute, defend or discontinue specified proceedings in the name of and on behalf of the company (h) Appointing a receiver or a receiver and manager of any or all of the company's property (i) Restraining a person from engaging in specified conduct or from doing a specified act (j) Requiring a person to do a specified act Definitions and cross-references History and explanatory materials Texts and literature [2F.234] Who can apply for order — Annotations to section 234 [Current to April 2019] Key principles Laches Definitions and cross-references History and explanatory materials Texts and literature [2F.235] Requirement for person to lodge order — Annotations to section 235 [Current to April 2019] Key principles History and explanatory materials Texts and literature Part 2F.1A — Proceedings on behalf of a company by members and others [ss 236–242] [2F.236] Bringing, or intervening in, proceedings on behalf of the company — Annotations to section 236 [Current to April 2019] Key principles The character of proceedings brought or intervened in derivatively Standing Company Company in liquidation or administration Definitions and cross-references History and explanatory materials Texts and literature [2F.237] Applying for and granting leave — Annotations to section 237 [Current to April 2019] Key principles The company will not bring the proceedings or take responsibility The applicant is acting in good faith The best interests of the company Presumption of best interests in third party proceedings A serious question to be tried Notice of intention to apply Definitions and cross-references History and explanatory materials Texts and literature [2F.238] Substitution of another person for the person granted leave — Annotations to section 238 [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2F.239] Effect of ratification by members — Annotations to section 239 [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2F.240] Leave to discontinue, compromise or settle proceedings brought, or intervened in, with leave — Annotations to section 240 [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2F.241] General powers of the court — Annotations to section 241 [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2F.242] Power of the court to make costs orders — Annotations to section 242 [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2F.2 — Class rights [ss 246B–246G] [2F.246B] Varying and cancelling class rights — Annotations to section 246B [Current to April 2019] Key principles Classes of shares and other membership Class rights attached to shares Variation or cancellation of class rights Variation or cancellation of rights, where the company has a variation procedure Variation or cancellation of rights, where the company has no variation procedure Definitions and cross-references History and explanatory materials Texts and literature [2F.246C] Certain actions taken to vary rights etc — Annotations to section 246C [Current to April 2019] Key principles Company with share capital divides shares into further classes Variation of the rights attached to some of the shares in the class Company without share capital divides membership into further classes Variation of the rights attached to some of the memberships in the class Company with a single class of shares issues new shares Company issues new preference shares ranking equally with existing preference shares Definitions and cross-references History and explanatory materials Texts and literature [2F.246D] Variation, cancellation or modification without unanimous support of class — Annotations to section 246D [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2F.246E] Variation, cancellation or modification with the unanimous support of class — Annotations to section 246E [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2F.246F] Company must lodge documents and resolutions with ASIC — Annotations to section 246F [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2F.246G] Member's copies of documents and resolutions — Annotations to section 246G [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2F.3 — Inspection of books [ss 247A–247D] [2F.247A] Order for inspection of books of company or registered managed investment scheme — Annotations to section 247A [Current to April 2019] Key principles Inspection of "books" Acting "in good faith" and making the inspection "for a proper purpose" Application for an inspection order connected with Pt F.1A proceedings Definitions and cross-references History and explanatory materials Texts and literature [2F.247B] Ancillary orders — Annotations to section 247B [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2F.247C] Disclosure of information acquired in inspection — Annotations to section 247C [Current to April 2019] Key principles History and explanatory materials Texts and literature [2F.247D] Company or directors may allow member to inspect books (replaceable rule see section 135) — Annotations to section 247D [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2F.4 — Proceedings against a company by members and others [s 247E] [2F.247E] Shareholding does not prevent compensation claim — Annotations to section 247E [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Chapter 2G — Meetings [ss 248A–253N] Part 2G.1 — Directors' meetings [ss 248A–248G] Division 1 — Resolutions and declarations without meetings [ss 248A–248B] [2G.248A] Circulating resolutions of companies with more than one director (replaceable rule) — Annotations to section 248A [Current to February 2019] Key principles Scope of section Definitions and cross-references History and explanatory materials Texts and literature [2G.248B] Resolutions and declarations of one director proprietary companies — Annotations to section 248B [Current to February 2019] Key principles History and explanatory materials Texts and literature Division 2 — Director's meetings [ss 248C–248G] [2G.248C] Calling directors' meetings (replaceable rule) — Annotations to section 248C [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.248D] Use of technology — Annotations to section 248D [Current to February 2019] Key principles History and explanatory materials Texts and literature [2G.248E] Chairing directors' meetings (replaceable rule) — Annotations to section 248E [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.248F] Quorum at directors' meetings (replaceable rule) — Annotations to section 248F [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.248G] Passing of directors' resolutions (replaceable rule) — Annotations to section 248G [Current to February 2019] Key principles Scope of section Informal assent by directors Definitions and cross-references History and explanatory materials Texts and literature Part 2G.2 — Meetings of members of companies [ss 249A–250Y] Division 1 — Resolutions without meetings [ss 249A–249B] [2G.249A] Circulating resolutions of proprietary companies with more than one member — Annotations to section 249A [Current to February 2019] Key principles Scope of section Duomatic principle History and explanatory materials Texts and literature [2G.249B] Resolutions of one member companies — Annotations to section 249B [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Who may call meetings of members [ss 249C–249G] [2G.249C] Calling of meetings of members by a director (replaceable rule) — Annotations to section 249C [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.249CA] Calling of meetings of members of a listed company by a director — Annotations to section 249CA [Current to February 2019] Key principles History and explanatory materials Texts and literature [2G.249D] Calling of general meeting by directors when requested by members — Annotations to section 249D [Current to February 2019] Key principles Scope of section Form of request When a meeting need not be called Validity of part of requisition What amounts to "calling" a meeting Definitions and cross-references History and explanatory materials Texts and literature [2G.249E] Failure of directors to call general meeting — Annotations to section 249E [Current to February 2019] Key principles Scope of section Extension of period History and explanatory materials Texts and literature [2G.249F] Calling of general meeting by members — Annotations to section 249F [Current to February 2019] Key principles Purpose of the section Calling of meeting Postponement or change of venue of meeting Definitions and cross-references History and explanatory materials Texts and literature [2G.249G] Calling of meeting of members by the court — Annotations to section 249G [Current to February 2019] Key principles When the court will make orders under this section Definitions and cross-references History and explanatory materials Texts and literature Division 3 — How to call meetings of members [ss 249H–249M] [2G.249H] Amount of notice of meetings — Annotations section 249H [Current to February 2019] Key principles Scope of section Consent to short notice Effect of failure to give notice History and explanatory materials Texts and literature [2G.249HA] Amount of notice of meetings of listed company — Annotations to section 249HA [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.249J] Notice of meetings of members to members and directors — Annotations to section 249J [Current to February 2019] Key principles Scope of section How notice is given Directors' duties as to general meeting Definitions and cross-references History and explanatory materials Texts and literature [2G.249K] Auditor entitled to notice and other communication — Annotations to section 249K [Current to February 2019] Scope of section Definitions and cross-references History and explanatory materials Texts and literature [2G.249L] Content of notice of meetings of members — Annotations to section 249L [Current to February 2019] Key principles Scope of section General law Definitions and cross-references History and explanatory materials Texts and literature [2G.249LA] Notice of meeting not required to contain certain information — Annotations to section 249LA [Current to February 2019] History and explanatory materials Texts and literature [2G.249M] Notice of adjourned meetings (replaceable rule) — Annotations to section 249M [Current to February 2019] Key principles Definitions and cross-references History and explanatory material Texts and literature Division 4 — Members' rights to put resolutions etc at general meetings [ss 249N–249P] [2G.249N] Members' resolutions — Annotations to section 249N [Current to February 2019] Key principles Scope of section When directors can decline to advance resolution History and explanatory materials Texts and literature [2G.249O] Company giving notice of members' resolutions — Annotations to section 249O [Current to February 2019] History and explanatory materials Texts and literature [2G.249P] Members' statement to be distributed — Annotations to section 249P [Current to February 2019] Key principles History and explanatory materials Texts and literature Division 5 — Holding meeting of members [ss 249Q–249W] [2G.249Q] Purpose — Annotations to section 249Q [Current to February 2019] Key principles History and explanatory materials Texts and literature [2G.249R] Time and place for meeting of members — Annotations to section 249R [Current to February 2019] Key principles History and explanatory materials Texts and literature [2G.249S] Technology — Annotations to section 249S [Current to February 2019] Key principles History and explanatory materials Texts and literature [2G.249T] Quorum (replaceable rule) — Annotations to section 249T [Current to February 2019] Key principles Quorum requirement Proxies counted in quorum Definitions and cross-references History and explanatory materials Texts and literature [2G.249U] Chairing meeting of members (replaceable rule) — Annotations to section 249U [Current to February 2019] Key principles Role of chair of meeting Adjournment of meeting Disorder in meeting Definitions and cross-references History and explanatory materials Texts and literature [2G.249V] Auditor's right to be heard at general meetings — Annotations to section 249V [Current to February 2019] Key principles Definitions and cross-references Texts and literature [2G.249W] Adjourned meeting — Annotations to section 249W [Current to February 2019] Key principles History and explanatory materials Texts and literature Division 6 — Proxies and body corporate representatives [ss 249X–250D] [2G.249X] Who can appoint a proxy (replaceable rule) — Annotations to section 249X [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.249Y] Rights of proxies — Annotations to section 249Y [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.249Z] Company sending appointment forms of lists of proxies must send to all members — Annotations to section 249Z [Current to February 2019] Key principles History and explanatory materials Instruments and class orders Texts and literature [2G.250A] Appointing a proxy — Annotations to section 250A [Current to February 2019] Key principles General law Contents of proxy form Disallowance of proxy History and explanatory materials Instruments and class orders Texts and literature [2G.250B] Proxy documents — Annotations to section 250B [Current to February 2019] Key principles Requirement for prior lodgment of proxies Whether proxy forms must be returned to the company Director entitled to inspect proxy forms History and explanatory materials Instruments and class orders Texts and literature [2G.250BA] Proxy documents — listed companies — Annotations to section 250BA [Current to February 2019] Key principles Instruments and class orders [2G.250BB] Proxy vote if appointment specifies way to vote — Annotations to sections 250BB–250BC [Current to February 2019] Key principles History and explanatory materials [2G.250BD] Proxy voting by key management personnel or closely related parties — Annotations to sections 250BD [Current to February 2019] Key principles History and explanatory materials [2G.250C] Validity of proxy vote — Annotations to section 250C [Current to February 2019] Key principles History and explanatory materials Texts and literature [2G.250D] Body corporate representative — Annotations to section 250D [Current to February 2019] Key principles Effect of appointment of corporate representative Voting on show of hands Standing appointment History and explanatory materials Texts and literature Division 7 — Voting at meetings of members [ss 250E–250M] [2G.250E] How many votes a member has (replaceable rule) — Annotations to section 250E [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.250F] Jointly held shares (replaceable rule) — Annotations to section 250F [Current to February 2019] Definitions and cross-references History and explanatory materials Texts and literature [2G.250G] Objections to right to vote (replaceable rule) — Annotations to section 250G [Current to February 2019] Key principles Scope of section Definitions and cross-references History and explanatory materials Texts and literature [2G.250H] Votes need not all be cast in the same way — Annotations to section 250H [Current to February 2019] History and explanatory materials Texts and literature [2G.250J] How voting is carried out (replaceable rule) — Annotations to section 250J [Current to February 2019] Definitions and cross-references History and explanatory materials Texts and literature [2G.250K] Matters on which a poll may be demanded — Annotations to section 250K [Current to February 2019] Key principles Texts and literature [2G.250L] When a poll is effectively demanded — Annotations to section 250L [Current to February 2019] Key principles History and explanatory materials Texts and literature [2G.250M] When and how polls must be taken (replaceable rule) — Annotations to section 250M [Current to February 2019] Key principles Conduct of a poll Definitions and cross-references History and explanatory materials Texts and literature Division 8 — AGMs of public companies [ss 250N–250T] [2G.250N] Public company must hold AGM — Annotations to section 250N [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2G.250P] Extension of time for holding AGM — Annotations to section 250P [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2G.250PAA] Exemptions by ASIC — class orders and individual externally-administered companies — Annotations to sections 250PAA–250PAB [Current to February 2019] Key principles History and explanatory materials [2G.250PA] Written questions to auditor submitted by members of listed company before AGM — Annotations to section 250PA [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.250R] Business of AGM — Annotations to section 250R [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2G.250RA] Auditor required to attend listed company's AGM — Annotations to section 250RA [Current to February 2019] Definitions and cross-references History and explanatory materials Texts and literature [2G.250S] Questions and comments by members on company management at AGM — Annotations to section 250S [Current to February 2019] Key principles History and explanatory materials Texts and literature [2G.250SA] Listed company — remuneration report — Annotations to section 250SA [Current to February 2019] History and explanatory materials Texts and literature [2G.250T] Questions and comments by members of auditors at AGM — Annotations to section 250T [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 9 — Meetings arising from concerns about remuneration reports [ss 250U–250Y] [2G.250U] Meetings arising from concerns about remuneration reports — Annotations to sections 2510U–250Y [Current to February 2019] Key principles History and explanatory materials Definitions and cross-references Part 2G.3 — Minutes and members' access to minutes [ss 251A–251B] [2G.251A] Minutes — Annotations to section 251A [Current to February 2019] Key principles Definitions and cross references History and explanatory materials Texts and literature [2G.251AA] Disclosure of proxy votes — listed companies — Annotations to section 251AA [Current to February 2019] History and explanatory materials [2G.251B] Members' access to minutes — Annotations to section 251B [Current to February 2019] Key principles History and explanatory materials Texts and literature Part 2G.4 — Meetings of members of registered managed investment schemes [ss 252A–253N] Division 1 — Who may call meetings of members [ss 252A–252E] [2G.252A] Calling of meetings of members by responsible entity — Annotations to sections 252A–252E [Current to February 2019] Key principles History and explanatory materials Texts and literature Division 2 — How to call meetings of members [ss 252F–252K] [2G.252F] Amount of notice of meetings — Annotations to sections 252F–252K [Current to February 2019] Key principles History and explanatory material Texts and literature Division 3 — Members' rights to put resolutions etc at meetings of members [ss 252L–252N] [2G.252L] Members' resolutions — Annotations to sections 252L–252N [Current to February 2019] Key principles Definitions and cross-references History and explanatory material Texts and literature Division 4 — Holding meetings of members [ss 252P–252U] [2G.252P] Time and place for meetings of members — Annotations to sections 252P–252U [Current to February 2019] Key principles History and explanatory material Texts and literature Division 5 — Proxies and body corporate representatives [ss 252V–253B] [2G.252V] Who can appoint a proxy — Annotations to sections 252V–253B [Current to February 2019] Key principles History and explanatory material Texts and literature Division 6 — Voting at meetings of members [ss 253C–253L] [2G.253C] Voting rights at general meetings — Annotations to sections 253C–253L [Current to February 2019] Key principles Definitions and cross-references History and explanatory material Texts and literature Division 7 — Minutes and members' access to minutes [ss 253M–253N] [2G.253M] Minutes — Annotations to sections 253M–253N [Current to February 2019] Key principles History and explanatory material Texts and literature Chapter 2H — Shares [ss 254A–254Y] Part 2H.1 — Issuing and converting shares [ss 254A–254H] Part 2H.1 — Issuing and converting shares [ss 254A–254H] [2H.254A] Power to issue bonus, partly-paid, preference and redeemable preference shares — Annotations to section 254A Key principles Bonus shares Preference shares Redeemable preference shares Partly-paid shares Definitions and cross-references History and explanatory materials The Company Law Review Act 1998 — abolition of authorised or nominal share capital The power to issue shares Capitalisation and issue of bonus shares Preference shares Redeemable preference shares Texts and literature [2H.254B] Terms of issue — Annotations to section 254B Key principles Power to determine terms, rights and restrictions on issue of shares Terms of issue of shares in no liability companies Priority of vendors' and promoters' shares in the winding up of a no liability company Definitions and cross-references History and explanatory materials Texts and literature [2H.254C] No par value shares — Annotations to section 254C Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254D] Pre-emption for existing shareholders on issue of shares in proprietary company (replaceable rule — see section 135) — Annotations to section 254D Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254E] Court validation of issue — Annotations to section 254E Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254F] Bearer shares and stock must not be issued — Annotations to section 254F Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254G] Conversion of shares — Annotations to section 254G Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254H] Resolution to convert shares into larger or smaller number — Annotations to section 254H Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2H.2 — Redemption of redeemable preference shares [ss 254J–254L] Part 2H.2 — Redemption of redeemable preference shares [ss 254J–254L] [2H.254J] Redemption must be in accordance with terms of issue — Annotations to section 254J Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254K] Other requirements about redemption — Annotations to section 254K Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254L] Consequences of contravening section 254J or 254K — Annotations to section 254L Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2H.3 — Partly-paid shares [ss 254M–254R] Part 2H.3 — Partly-paid shares [ss 254M–254R] [2H.254M] Liability on partly-paid shares — Annotations to section 254M Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2H.254N] Calls may be limited to when a company is externally-administered — Annotations to section 254N Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254P] No liability companies — calls on shares — Annotations to section 254P Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254Q] No liability companies — forfeiture and sale of shares for failure to meet call — Annotations to section 254Q Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254R] No liability companies — redemption of forfeited shares — Annotations to section 254R Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2H.4 — Capitalisation of profits [s 254S] Part 2H.4 — Capitalisation of profits [s 254S] [2H.254S] Capitalisation of profits — Annotations to section 254S Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2H.5 — Dividends [ss 254SA–254W] Part 2H.5 — Dividends [ss 254SA–254W] [2H.254SA] Companies limited by guarantee not to pay dividends — Annotations to section 254SA Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254T] Circumstances in which a dividend may be paid — Annotations to section 254T Key principles The Canadian and New Zealand legislation The scope of s 254T The balance sheet test Fair and reasonable to the company's shareholders as a whole Materially prejudice the company's ability to pay its creditors Dividends within corporate groups Interim dividends Definitions and cross-references History and explanatory materials Texts and literature [2H.254U] Other provisions about paying dividends (replaceable rule — see section 135) — Annotations to section 254U Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254V] When does the company incur a debt?- Annotations to section 254V Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254W] Dividend rights — Annotations to section 254W Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2H.6 — Notice requirements [ss 254X–254Y] Part 2H.6 — Notice requirements [ss 254X–254Y] [2H.254X] Notice to ASIC of share issue — Annotations to section 254X Key principles Definitions and cross-references History and explanatory materials Texts and literature [2H.254Y] Notice to ASIC of share cancellation — Annotations to section 254Y Key principles Definitions and cross-references History and explanatory materials Texts and literature Chapter 2J — Transactions Affecting Share Capital [ss 256A–260E] Part 2J.1 — Share capital reductions and share buy-backs [ss 256A–258F] [2J.256A] Purpose — Annotations to section 256A Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 1 — Reductions in Share Capital Not Otherwise Authorised by Law [ss 256B–256E] [2J.256B] Company may make reduction not otherwise authorised — Annotations to section 256B Key principles Reduction of capital Why reduce share capital? "Not otherwise authorised by law" Types of capital reduction Return of capital Cancellation of uncalled capital Cancellation of redeemable preference shares under a reduction of capital Fair and reasonable to shareholders as a whole Material prejudice to the company's ability to pay its creditors Reduction of share capital and insolvent trading Shareholder approval — equal reduction or selective reduction ASX Listing Rule requirements Definitions and cross-references History and explanatory materials The principle of maintenance of capital Legislation permitting reduction of capital with shareholder approval, constitutional authority and court confirmation The 1998 reform Share premium account Capital redemption reserve Interest on share capital Instruments and class orders Texts and literature [2J.256C] Shareholder approval — Annotations to section 256C Key principles Approval of an equal reduction First alternative for approval of a selective reduction: a special resolution passed at a meeting Voting restriction on a special resolution approving a selective reduction Second alternative for approval of a selective reduction: unanimity of ordinary shareholders at a general meeting Additional requirement when a selective reduction involves cancellation of shares The requirement for a "meeting" The information to accompany the notice of meeting Notification of ASIC Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.256D] Consequences of failing to comply with section 256B — Annotations to section 256D Key principles Civil consequences of contravention of the doctrine maintenance of capital Definitions and cross-references History and explanatory materials Texts and literature [2J.256E] Signposts to other relevant provisions — Annotations to section 256E Key principles Texts and literature Division 2 — Share Buy-backs [ss 257A–257J] [2J.257A] The company's power to buy back its own shares — Annotations to section 257A Key principles Why buy back shares? Entities other than companies The corporate constitution First condition: no material prejudice to the company's ability to pay its creditors Buy-backs and insolvent trading Second condition: company must follow the procedures laid down by Div 2 of Pt 2J.1 Buying back redeemable preference shares Buy-backs and the takeover provisions ASX requirements Consequences of an unauthorised buy-back Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.257B] Buy-back procedure — general — Annotations to section 257B Key principles The 10/12 limit Minimum holding Employee share scheme On-market buy-back Equal access scheme Selective buy-back Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.257C] Buy-back procedure — shareholder approval if the 10/12 limit exceeded — Annotations to section 257C Key principles Information to accompany notice of meeting Documents to be lodged with ASIC Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.257D] Buy-back procedure — special shareholder approval for selective buy-back — Annotations to section 257D Key principles Information to accompany notice of meeting Documents to be lodged with ASIC ASIC's power of exemption Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.257E] Buy-back procedure — lodgment of offer documents with ASIC — Annotations to section 257E Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.257F] Notice of intended buy-back — Annotations to section 257F Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.257G] Buy-back procedure — disclosure of relevant information when offer made — Annotations to section 257G Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.257H] Acceptance of offer and transfer of shares to the company — Annotations to section 257H Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.257J] Signposts to other relevant provisions — Annotations to section 257J Key principles Texts and literature Division 3 — Other Share Capital Reductions [ss 258A–258F] [2J.258A] Unlimited companies — Annotations to section 258A Key principles Definitions and cross-references History and explanatory materials Texts and literature [2J.258B] Right to occupy or use real property — Annotations to section 258B Key principles Definitions and cross-references History and explanatory materials Texts and literature [2J.258C] Brokerage or commission — Annotations to section 258C Key principles Definitions and cross-references History and explanatory materials Texts and literature [2J.258D] Cancellation of forfeited shares — Annotations to section 258D Key principles Definitions and cross-references History and explanatory materials Texts and literature [2J.258E] Other share cancellations — Annotations to section 258E Key principles Definitions and cross-references History and explanatory materials Texts and literature [2J.258F] Reductions because of lost capital — Annotations to section 258F Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2J.2— SELF-ACQUISITION AND CONTROL OF SHARES [ss 259A–259F] [2J.259A] Directly acquiring own shares — Annotations to section 259A Key principles In what circumstances does a company "acquire" shares in itself? Acquiring "units" of shares The exceptions to the prohibition on self-acquisition Definitions and cross-references History and explanatory materials Texts and literature [2J.259B] Taking security over own shares or shares in holding company — Annotations to section 259B Key principles "Taking security" "Units" of shares Security over shares or units of shares in a company that controls the company Control The exceptions to the prohibition on taking security Company must cease to hold shares after 12 months Definitions and cross-references History and explanatory materials Texts and literature [2J.259C] Issuing or transferring shares to controlled entity- Annotations to section 259C Key principles Underlying policy "Issue or transfer of shares or units of shares" The exceptions, where an issue or transfer is not void ASIC's power of exemption Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2J.259D] Company controlling entity that holds shares in it — Annotations to section 259D Key principles Company obtains control of entity that holds its shares or units of shares Company's control over entity that holds its shares or units of shares increases Company issues shares (or units of shares) to controlled entity Shares (or units of shares) in a company are transferred to a controlled entity Entity must cease to hold shares or units, or company must cease to control entity Bonus shares Voting rights cannot be exercised Exceptions to s 259D Definitions and cross-references History and explanatory materials Texts and literature [2J.259E] When a company controls an entity — Annotations to section 259E Key principles Definitions and cross-references History and explanatory materials Texts and literature [2J.259F] Consequences of failing to comply with section 259A or 259B — Annotations to section 259F Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2J.3 — FINANCIAL ASSISTANCE [ss 260A–260D] [2J.260A] Financial assistance by a company for acquiring shares in the company or a holding company — Annotations to section 260A Key principles Threshold issues "Company" "Financially assist" "To" acquire shares or units of shares "Acquire" shares or units of shares "Shares or units of shares in the company or a holding company" Section 260A(1)(a): material prejudice to the interests of the company or its shareholders, or the company's ability to pay its creditors Financial assistance and insolvent trading Dividends Definitions and cross-references History and explanatory materials Texts and literature [2J.260B] Shareholder approval and notice to ASIC — Annotations to section 260B Key principles Special resolution of the company, or unanimity of ordinary shareholders Holding company approval Information to accompany the notice of meeting Documents to be lodged with ASIC, and timing of implementation Non-compliance with s 260B Definitions and cross-references History and explanatory materials Texts and literature [2J.260C] Exempted financial assistance — Annotations to section 260C Key principles General exemptions based on ordinary course of commercial dealing Exemption for finance companies Exemptions for subsidiaries of debenture holders Exemption for approved employee share schemes Reduction of share capital Share buy-back Court order Discharge of liability Definitions and cross-references History and explanatory materials Texts and literature [2J.260D] Consequences of failing to comply with section 260A — Annotations to section 260D Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2J.4 — INTERACTION WITH GENERAL DIRECTORS' DUTIES [s 260E] [2J.260E] General duties still apply — Annotations to section 260E Key principles Definitions and cross-references History and explanatory materials Texts and literature Chapter 2K — Charges [Repealed subject to transitional provisions] [ss 261–282] Part 2K.1 — Preliminary [s 261] Part 2K.1 — Preliminary [s 261] Important note — Effect of the Personal Property Securities Act [2K.261] Interpretation and application — Annotations to section 261 [Current to November 2015] Key principles History and explanatory materials Texts and literature Part 2K.2 — Registration [ss 262–277] Part 2K.2 — Registration [ss 262–277] [2K.262] Charges required to be registered — Annotations to section 262 [Current to November 2015] Key principles Registration of floating charges Registration of other charges Exempt dealings Other matters Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2K.263] Lodgment of notice of charge and copy of instrument — Annotations to section 263 [Current to November 2015] Key principles Scope of section Effect of PPS regime History and explanatory materials Instruments and class orders Texts and literature [2K.264] Acquisition of property subject to charge — Annotations to section 264 [Current to November 2015] Key principles History and explanatory materials Texts and literature [2K.265] Registration of documents relating to charges — Annotations to sections 265–265A [Current to November 2015] Key principles Registration of charges Provisional registration Standard time History and explanatory materials Instruments and class orders Texts and literature [2K.266] Certain charges void against liquidator or administrator — Annotations to section 266 [Current to November 2015] Key principles When charge is avoided Increase in charge value Extension of time Concept of inadvertence Matters relevant to exercise of court's discretion Standing Conditions on extension of time Successive charges Definitions and cross-references History and explanatory materials Texts and literature [2K.267] Charges in favour of certain persons void in certain cases — Annotations to section 267 [Current to November 2015] Key principles Scope of section Who is a "relevant person" for the purposes of this section? When is a charge enforced? Grant of leave Definitions and cross-references History and explanatory materials Texts and literature [2K.268] Assignment and variation of charges — Annotations to section 268 [Current to November 2015] Key principles History and explanatory materials Texts and literature [2K.269] Satisfaction of, and release of property from, charges — Annotations to section 269 [Current to November 2015] Key principles History and explanatory materials Texts and literature [2K.270] Lodgement of notices, offences etc — Annotations to section 270 [Current to November 2015] Key principles History and explanatory materials Texts and literature [2K.271] Company to keep documents relating to charges and register of charges — Annotations to section 271 [Current to November 2015] Key principles History and explanatory materials Texts and literature [2K.272] Certificates — Annotations to section 272 [Current to November 2015] Key principles History and explanatory materials Texts and literature [2K.273A] Application of State and Territory laws — Annotations to sections 273A–273D [Current to November 2015] Key principles Instruments and class orders History and explanatory materials Texts and literature [2K.274] Power of court to rectify Register — Annotations to section 274 [Current to November 2015] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2K.277] Power to exempt from compliance with certain requirements of Division — Annotations to section 277 [Current to November 2015] Key principles History and explanatory materials Texts and literature Part 2K.3 — Order of priority [ss 278–282] Part 2K.3 — Order of priority [ss 278–282] [2K.278] Priorities of charges — Annotations to sections 278–282 [Current to November 2015] Key principles Definitions and cross-references History and explanatory materials Texts and literature Chapter 2L — Debentures [ss 283AA–283HB] Chapter 2L — Debentures: Chapter Overview Part 2L.1 — Requirement for trust deed and trustee [ss 283AA–283AE] [2L.283AA] Requirement for trust deed and trustee — Annotations to section 283AA [Current to February 2019] Key principles (1) Where the offer of debentures needs disclosure to investors under Ch 6D (2) Rollover offer made to existing debenture holders (3) Where there is an exemption from the disclosure requirement under s 708A (4) Where debentures are offered by a takeover bidder as part of the bid consideration under an off-market takeover bid (5) Where debentures are issued under a compromise or scheme of arrangement approved by members or creditors at a meeting ordered by the court under s 411(1) Definitions and cross-references History and explanatory materials Texts and literature [2L.283AB] Trust deed — Annotations to section 283AB [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283AC] Who can be a trustee — Annotations to section 283AC [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283AD] Existing trustee continues to act until new trustee takes office — Annotations to section 283AD [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283AE] Replacement of trustee — Annotations to section 283AE [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2L.2 — Duties of borrower [ss 283BA–283BI] [2L.283BA] Duties of borrower — Annotations to section 283BA [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283BB] General duties — Annotations to section 283BB [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283BC] Duty to notify ASIC of information related to trustee — Annotations to section 283BC [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283BCA] Register relating to trustees for debenture holders — Annotations to section 283BCA [Current to February 2019] Key principles Definitions and cross-references [2L.283BD] Duty to replace trustee — Annotations to section 283BD [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283BE] Duty to inform trustee about charges — Annotations to section 283BE [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283BF] Duty to give trustee and ASIC quarterly reports — Annotations to section 283BF [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283BG] Exceptions — Annotations to section 283BG [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283BH] How debentures may be described — Annotations to section 283BH [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283BI] Offences for failure to comply with statutory duties — Annotations to section 283BI [Current to February 2019] Key principles Definitions and cross-references Part 2L.3 — Duties of guarantor [ss 283CA–283CE] [2L.283CA] Duties of guarantor — Annotations to section 283CA [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283CB] General duties — Annotations to section 283CB [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283CC] Duty to inform trustee about charges — Annotations to section 283CC [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283CD] Exceptions — Annotations to section 283CD [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283CE] Offences for failure to comply with statutory duties — Annotations to section 283CE [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2L.4 — Trustee [ss 283DA–283DC] [2L.283DA] Trustee's duties — Annotations to section 283DA [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283DB] Exemptions and indemnifications of trustee from liability— Annotations to section 283DB [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283DC] Indemnity — Annotations to section 283DC [Current to February 2019] Key principles History and explanatory materials Texts and literature Part 2L.5 — Meetings of debenture holders [ss 283EA–283EC] [2L.283EA] Borrower's duty to call meeting — Annotations to section 283EA [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283EB] Trustee's power to call meeting — Annotations to section 283EB [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283EC] Court may order meeting — Annotations to section 283EC [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2L.6 — Civil liability [s 283F] [2L.283F] Civil liability for contravening this Chapter — Annotations to section 283F [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2L.7 — ASIC powers [ss 283GA–283GB] [2L.283GA] ASIC's power to exempt and modify — Annotations to section 283GA [Current to February 2019] Key principles [2L.283GB] ASIC may approve body corporate to be trustee — Annotations to section 283GB [Current to February 2019] Key principles Part 2L.8 — Court [ss 283HA–283HB] [2L.283HA] General court power to give directions and determine questions— Annotations to section 283HA [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2L.283HB] Specific court powers — Annotations to section 283HB [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Chapter 2M — Financial Reports and Audit [ss 285–344] Part 2M.1 — Overview [ss 285–285A] [2M.285] Overview of obligations under Chapter 2M — Annotations to sections 285–285A [Current to July 2018] Key principles Chapter 2M generally Scope of these sections Definitions and cross-references History and explanatory materials Texts and literature Part 2M.2 — Financial records [ss 286–290] [2M.286] Obligation to keep financial records — Annotations to sections 286–289 [Current to February 2019] Key principles Obligation to keep financial records What records must be kept Other requirements Definitions and cross-references History and explanatory materials Texts and literature [2M.290] Director access — Annotations to section 290 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 2M.3 — Financial reporting [ss 292–323EM] Division 1 — Annual financial reports and directors' reports [ss 292–301] [2M.292] Who has to prepare annual financial reports and directors' reports — Annotations to section 292 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2M.293] Small proprietary companies — shareholder direction — Annotations to section 293 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.294] Small proprietary companies — ASIC direction — Annotations to section 294 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.294A] Small companies — limited by guarantee — member direction — Annotations to section 294A [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials [2M.294B] Small companies — limited by guarantee — ASIC direction— Annotations to section 294B [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials [2M.295] Contents of annual financial report — Annotations to section 295 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2M.295A] Declaration in relation to listed entity's financial statements by chief executive officer and chief financial officer — Annotations to section 295A [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.296] Compliance with accounting standards and regulations — Annotations to section 296 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2M.297] True and fair view — Annotations to section 297 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2M.298] Annual directors' report — Annotations to section 298 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.299] Annual directors' report — general information — Annotations to section 299 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.299A] Annual directors' reports — additional general requirements for listed public companies — Annotations to section 299A [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.300] Annual directors' report — specific information — Annotations to section 300 [Current to February 2019] Key principles Scope of section Disclosure as to auditor independence Registered schemes Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2M.300A] Annual directors' report — specific information to be provided by listed companies — Annotations to section 300A [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2M.300B] Annual directors' report — companies limited by guarantee— Annotations to section 300B [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials [2M.301] Audit of annual financial report — Annotations to section 301 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 2 — Half-year financial report and directors' report [ss 302–306] [2M.302] Disclosing entity must prepare half-year financial report and directors' report — Annotations to section 302 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class order Texts and literature [2M.303] Contents of half-year financial report — Annotations to section 303 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.304] Compliance with accounting standards and regulations — Annotations to section 304 [Current to February 2019] History and explanatory materials Instruments and class orders Texts and literature [2M.305] True and fair view — Annotations to section 305 [Current to February 2019] Key principles History and explanatory materials Texts and literature [2M.306] Half-year directors' report — Annotations to section 306 [Current to February 2019] Key principles Division 3 — Audit and auditor's report [ss 307–313] [2M.307] Audit — Annotations to section 307 [Current to February 2019] Key principles History and explanatory materials Instruments and class orders Texts and literature [2M.307A] Audit to be conducted in accordance with accounting standards— Annotations to section 307A [Current to February 2019] Definitions and cross-references History and explanatory materials [2M.307B] Audit working papers to be retained for 7 years — Annotations to section 307B [Current to February 2019] History and explanatory materials [2M.307C] Auditor's independence declaration — Annotations to section 307C [Current to February 2019] Key principles History and explanatory materials Texts and literature [2M.308] Auditor's report on annual financial report — Annotations to section 308 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.309] Auditor's report on half-yearly financial report — Annotations to section 309 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.310] Auditor's power to obtain information — Annotations to section 310 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.311] Reporting to ASIC — Annotations to section 311 [Current to February 2019] Key principles Scope of reporting obligation Whether a contravention is significant Definitions and cross-references History and explanatory materials Texts and literature [2M.312] Assisting auditor — Annotations to section 312 [Current to February 2019] History and explanatory materials [2M.313] Special provisions on audit of debenture issuers and guarantors — Annotations to section 313 [Current to February 2019] Key principles History and explanatory materials Texts and literature Division 4 — Annual financial reporting to members [ss 314–318] [2M.314] Annual financial reporting to members — Annotations to sections 314 and 314A [Current to February 2019] Key principles History and explanatory materials Instruments and class orders Texts and literature [2M.315] Deadline for reporting to members — Annotations to section 315 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.316] Member's choices for annual financial information — Annotations to sections 316 and 316AA [Current to February 2019] History and explanatory materials Instruments and class orders [2M.316A] Annual financial reporting to members of companies limited by guarantee — Annotations to section 316A [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders [2M.317] Consideration of reports at AGM — Annotations to section 317 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [2M.318] Additional reporting by debenture issuers — Annotations to section 318 [Current to February 2019] History and explanatory materials Division 5 — Lodging reports with ASIC [ss 319–322] [2M.319] Lodgment of annual reports with ASIC — Annotations to section 319 [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [2M.320] Lodgment of half-year reports with ASIC — Annotations to section 320 [Current to February 2019] Key principles History and explanatory materials Instruments and class orders Texts and literature [2M.321] ASIC power to require lodgment — Annotations to section 321 [Current to February 2019] History and explanatory materials [2M.322] Relodgment if financial statements or directors' reports amended after lodgment — Annotations to section 322 [Current to February 2019] Key principles History and explanatory materials Texts and literature Division 6 — Special provisions about consolidated financial statements [ss 323–323C] [2M.323] Special provisions about consolidated financial statements — Annotations to section 323–323C [Current to February 2019] Key principles History and explanatory materials Texts and literature Division 7 — Financial years and half-years [s 323D] [2M.323D] Financial years and half-years — Annotations to sections 323D and 323DAA [Current to February 2019] Key principles History and explanatory materials Texts and literature Division 8 — Disclosure by listed companies of information filed overseas [s 323DA] [2M.323DA] Disclosure by listed companies of information filed overseas — Annotations to section 323DA [Current to February 2019] Key principles Division 9 — Reference of financial report to the Financial Reporting Panel [former ss 323EA–323EM] History and explanatory materials Part 2M.4 — Appointment and removal of auditors [ss 324AA–333AE] Division 1 — Entities that may be appointed as an auditor for a company or registered scheme [ss 324AA–324AF] [2M.324AA] Entities that may be appointed as an auditor for a company or registered scheme — Annotations to sections 324AA–324AF [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Registration requirements [ss 324BA–324BE] [2M.324BA] Registration requirements — Annotations to sections 324BA–324BE [Current to February 2019] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 3 — General requirements for auditor independence [ss 324CA–324CD] [2M.324CA] General requirements for auditor independence — Annotations to sections 324CA–324CD [Current to February 2019] Key principles Conflict of interest situation Conduct of directors of audit company Effect on legal professional privilege Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 4 — Specific requirements for auditor independence [ss 324CE–324CL] [2M.324CE] Specific requirements for auditor independence — Annotations to sections 324CE–324CL [Current to February 2019] Key principles Prohibited relationships "Cooling off" periods Officers of a company for the purposes of Pt 2M.4 Div 4 Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 5 — Auditor rotation for listed companies [ss 324DA–324DD] [2M.324DA] Auditor rotation for listed companies — Annotations to sections 324DA–324DD [Current to February 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 6 — Appointment, removal and fees of auditors for companies [ss 325–330] [2M.325] Appointment of auditors — Annotations to sections 325–328E [Current to July 2018] Key principles History and explanatory materials Instruments and class orders Texts and literature [2M.329] Removal and resignation of auditors — Annotations to sections 329–330 [Current to February 2019] Key principles History and explanatory materials Texts and literature Division 7 — Appointment, removal and fees of auditors for registered schemes [ss 331AAA–331AE] [2M.331AAA] Appointment, removal and fees of auditors for registered schemes — Annotations to sections 331AAA–331AE [Current to February 2019] Key principles History and explanatory materials Texts and literature Part 2M.4A — Annual transparency reports for auditors [ss 332–332G] [2M.332] Annual transparency reports for auditors — Annotations to sections 332–332G [Current to February 2019] Key principles History and explanatory materials Instruments and class orders Part 2M.5 — Accounting and auditing standards [ss 334–338] [2M.334] Accounting standards — Annotations to sections 334–338 [Current to February 2019] Key principles History and explanatory materials Texts and literature Part 2M.6 — Exemptions and modifications [ss 340–343] [2M.340] ASIC's power to make exemption orders and class orders — Annotations to sections 340–342 [Current to February 2019] Key principles Scope of sections When ASIC may grant relief Examples History and explanatory materials Texts and literature [2M.342AA] Exemption orders and class orders for non-auditor members and former members of audit forms; former employees of audit companies — Annotations to sections 342AA–342AC [Current to February 2019] Key principles History and explanatory materials [2M.342A] ASIC's power to modify the operation of s 324A — Annotations to sections 342A–342AB [Current to February 2019] Key principles History and explanatory materials [2M.343] Modification by regulations or by the Minister — Annotations to sections 343 and 343A [Current to February 2019] Key principles Part 2M.7 — Sanctions for contraventions of Chapter [s 344] [2M.344] Contravention of Pt 2M.2 or 2M.3 — Annotations to section 344 [Current to February 2019] Key principles History and explanatory materials Texts and literature Chapter 2N — Updating ASIC Information about Companies, Registered Schemes and Notified Foreign Passport Funds [ss 345A–349A] Chapter 2N — Updating ASIC Information about Companies, Registered Schemes and Notified Foreign Passport Funds: Chapter Overview History and explanatory materials Texts and literature Part 2N.1 — Review date [ss 345A–345B] [2N.345A] Review date — Annotations to section 345A [Current to February 2019] Key principles Definitions and cross-references [2N.345B] Company or responsible entity may change review date — Annotations to section 345B [Current to February 2019] Key principles Definitions and cross-references Part 2N.2 — Extract of particulars [ss 346A–346C] [2N.346A] ASIC must give an extract of particulars each year — Annotations to section 346A [Current to February 2019] Key principles Definitions and cross-references [2N.346B] ASIC may ask questions — Annotations to section 346 [Current to February 2019] Key principles Definitions and cross-references [2N.346C] Requirements in relation to an extract of particulars — Annotations to section 346C [Current to February 2019] Key principles Definitions and cross-references Part 2N.3 — Solvency resolution [ss 347A–347C] [2N.347A] Directors must pass a solvency resolution after each review date — Annotations to section 347A [Current to February 2019] Key principles Definitions and cross-references [2N.347B] Notice to ASIC — Annotations to section 347B [Current to February 2019] Key principles Definitions and cross-references [2N.347C] Payment of review fee is taken to be a representation by the directors that the company is solvent — Annotations to section 347C [Current to February 2019] Key principles Definitions and cross-references Part 2N.4 — Return of particulars [ss 348A–348D] [2N.348A] ASIC may give a return of particulars — Annotations to section 348A [Current to February 2019] Key principles Definitions and cross-references [2N.348B] ASIC may ask questions — Annotations to section 348B [Current to February 2019] Key principles Definitions and cross-references [2N.348C] ASIC may require a solvency resolution and statement — Annotations to section 348C [Current to February 2019] Key principles Definitions and cross-references [2N.348D] General requirements in relation to a return of particulars — Annotations to section 348D [Current to February 2019] Key principles Definitions and cross-references Part 2N.5 — Notice by proprietary companies of changes to ultimate holding company [s 349A] [2N.349A] Proprietary companies must notify ASIC of changes to ultimate holding company — Annotations to section 349A [Current to February 2019] Key principles Definitions and cross-references Chapter 2P — Lodgments with ASIC [ss 350–354] Chapter 2P — Lodgments with ASIC: Chapter Overview History and explanatory material Texts and literature Chapter 2P — Lodgments with ASIC [2P.350] Forms for documents to be lodged with ASIC — Annotations to section 350 [Current to February 2019] Key principles Definitions and cross-references [2P.351] Signing documents lodged with ASIC — Annotations to section 351 [Current to February 2019] Key principles Definitions and cross-references [2P.352] Documents lodged with ASIC electronically — Annotations to section 352 [Current to February 2019] Key principles Definitions and cross-references [2P.353] Electronic lodgment of certain documents — Annotations to section 353 [Current to February 2019] Key principles Definitions and cross-references [2P.354] Telephone notice of certain changes — Annotations to section 354 [Current to February 2019] Key principles Definitions and cross-references Chapter 5 — External Administration [ss 411–600K] Part 5.1 — Arrangements and reconstructions [ss 411–415G] [5.411] Administration of compromises etc — Annotations to section 411 [Current to July 2022] Key principles Generally Application for meeting to be convened When the court may decline to order a scheme meeting How meeting is convened Classes of creditors or members Creditors and option holders Consolidated meetings Schemes of arrangement involving managed investment schemes Creditor approval of a scheme Member approval of a scheme Court approval of the arrangement Approval of scheme subject to alteration Compensation for breach of condition imposed by the court Implementation agreements No encumbrance provision Break fee and no shop arrangements Sale facilities for foreign shareholders Third party claims in schemes of arrangements When approval for scheme will be withheld Whether the compromise or arrangement has been proposed for the purpose of avoiding Ch 6 Provisions for variation of schemes and termination conditions Where person may not administer arrangement Orders to be annexed to constitution Orders under s 1319 Order restraining further proceedings in creditor's scheme under s 411(16) Definitions and cross-references History and explanatory materials Instruments and class orders Prescribed and other material information Harmonised Corporations Rules Texts and literature [5.412] Information as to compromise with creditors — Annotations to section 412 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.413] Provisions for facilitating reconstruction and amalgamation of Pt 5.1 bodies — Annotations to section 413 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.414] Acquisition of shares of shareholders dissenting from scheme or contract approved by majority — Annotations to section 414 [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.415] Notice of appointment of scheme manager and Court's power to require a report — Annotations to section 415 Key principles [5.415A] Outcome of voting at creditors' meeting determined by related entity — Court powers — Annotations to sections 415A–415C Key principles History and explanatory materials Texts and literature [5.415D] Stay on ipso facto clauses in respect of certain schemes of arrangement — Annotations to sections 415D–415G Key principles Instruments and class orders History and explanatory materials Part 5.2 — Receivers and other controllers of property of corporations [ss 418–434M] [5.418] Persons not to act as receivers — Annotations to section 418 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.418A] Declaration as to validity of controller's appointment — Annotations to section 418A [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.419] Liability of controller — Annotations to section 419 [Current to July 2022] Key principles Appointment of a receiver generally Receiver as company's agent Position as to existing contracts Position as to employment contracts and employee entitlements Definitions and cross-references History and explanatory materials Texts and literature [5.419A] Liability of controller under pre-existing agreement about property used by corporation — Annotations to section 419A [Current to July 2022] Key principles Scope of the section Excusing a controller from liability Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.420] Powers of receiver — Annotations to section 420 [Current to July 2022] Key principles Role of receiver Source of receiver's powers Effect of receiver's appointment on directors' powers History and explanatory materials Texts and literature [5.420A] Controller's duty of care in exercising power of sale — Annotations to section 420A [Current to July 2022] Key principles General law Effect of this section Sections 420A(1)(a) and (1)(b) are true alternatives When breach is established Definitions and cross-references History and explanatory materials Texts and literature [5.420B] Court's power to authorise managing controller to dispose of property despite prior security interest — Annotations to section 420B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.420C] Receiver's power to carry on a corporation's business during the winding up — Annotations to section 420C [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.421] Controller's duties in relation to bank accounts and financial reports — Annotations to section 421 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.421A] Managing controller to report within 2 months about corporation's affairs — Annotations to section 421A [Current to July 2022] Definitions and cross-references History and explanatory materials Texts and literature [5.422] Reports by receiver or managing controller — Annotations to section 422 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.422A] Annual return by controller — Annotations to sections 422A–422B [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.422C] Transfer of books to new controller — Annotations to sections 422C–422D [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.423] Supervision of controller — Annotations to section 423 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.424] Controller may apply to court — Annotations to section 424 [Current to July 2022] Key principles Basis on which the court's power is exercised History and explanatory material Texts and literature [5.425] Court's power to fix amount of remuneration of receiver — Annotations to section 425 [Current to July 2022] Key principles Remuneration of receiver appointed under an instrument Factors relevant to amount of receiver's remuneration Remuneration of court-appointed receiver Receiver's equitable lien History and explanatory materials Instruments and class orders Texts and literature [5.426] Controller has qualified privilege in certain cases — Annotations to section 426 [Current to July 2022] Definitions and cross-references History and explanatory materials Texts and literature [5.427] Notification of matters relating to controller — Annotations to section 427 [Current to July 2022] History and explanatory materials Instruments and class orders Texts and literature [5.428] Statement that receiver appointed or other controller acting — Annotations to section 428 [Current to July 2022] History and explanatory materials Texts and literature [5.429] Officers to report to controller about company's affairs — Annotations to sections 429–429A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.430] Controller may require reports — Annotations to section 430 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.431] Controller may inspect books — Annotations to section 431 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.432] Auditing returns by controllers — Annotations to section 432 [Current to July 2022] History and explanatory materials Texts and literature [5.433] Property subject to circulating security interest — payment of certain debts to have priority — Annotations to section 433 [Current to July 2022] Key principles Certain payments in priority to secured creditors Retrenchment payments Definitions and cross-references History and explanatory materials Texts and literature [5.434] Enforcing controller's duty to make returns — Annotations to section 434 [Current to July 2022] History and explanatory materials Texts and literature [5.434A] Court's power to remove controller for misconduct — Annotations to section 434A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.434B] Removal of redundant controller — Annotations to section 434B [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.434C] Effect of ss 434A and 434B — Annotations to section 434C [Current to July 2022] History and explanatory materials Texts and literature [5.434D] Appointment of two or more receivers, receivers and managers, controllers or managing controllers of property of a corporation — Annotations to sections 434D–434G [Current to July 2022] Key principles History and explanatory materials [5.434H] Regulations may provide for reporting to ASIC — Annotations to section 434H [Current to July 2022] History and explanatory materials [5.434J] Stay on ipso facto clauses where managing controller appointed — Annotations to sections 434J–434M [Current to July 2022] Key principles Instruments and class orders History and explanatory materials Part 5.3A — Administration of a company's affairs with a view to executing a deed of company arrangement [ss 435A–451H] Division 1 — Preliminary [ss 435A–435C] [5.435A] Object of Part 5.3A — Annotations to section 435A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.435B] Definitions — Annotations to section 435B [Current to July 2022] History and explanatory materials [5.435C] When administration begins and ends — Annotations to section 435C [Current to July 2022] History and explanatory materials Texts and literature Division 2 — Appointment of administrator and first meeting of creditors [ss 436A–436G] [5.436A] Company may appoint administrator if board thinks it is or will become insolvent — Annotations to section 436A [Current to July 2022] Key principles Scope of Pt 5.3A Div 2 Invalidity of appointment by reason of other legislation Administrator should satisfy himself or herself as to validity of his or her appointment Claim to remuneration where administrator was not validly appointed Appointment to company to which a liquidator or provisional liquidator has been appointed Where administrator is appointed to corporate trustee Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.436B] Liquidator may appoint administrator — Annotations to section 436B [Current to July 2022] Key principles Liquidator or provisional liquidator may appoint administrator Persons who may not be appointed as liquidator without creditors' consent or leave of the court Standing for application Evidence in support of application Definitions and cross-references History and explanatory materials Texts and literature [5.436C] Person entitled to enforce security interest in whole or substantially the whole of a company's property may appoint administrator — Annotations to section 436C [Current to July 2022] Key principles Power to appoint administrator Administrator cannot be appointed when liquidator or provisional liquidator has been appointed Definitions and cross-references History and explanatory materials Texts and literature [5.436D] Company already under administration — Annotations to section 436D [Current to July 2022] History and explanatory materials Texts and literature [5.436DA] Declarations by administrator — indemnities and relevant relationships — Annotations to section 436DA [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.436E] Purpose and timing of first meeting of creditors — Annotations to section 436E [Current to July 2022] Key principles Administrator must call initial meeting of creditors Notice of meeting Definitions and cross-references History and explanatory materials Texts and literature [5.436F] Functions of committee of creditors — Annotations to former section 436F [Current to July 2022] [5.436G] Membership of committee — Annotations to former 436G [Current to July 2022] Division 3 — Administrator assumes control of company's affairs [ss 437A–437F] [5.437A] Role of administrator — Annotations to section 437A [Current to July 2022] Key principles Extent of administrator's powers Definitions and cross-references History and explanatory materials Texts and literature [5.437B] Administrator acts as company's agent — Annotations to section 437B [Current to July 2022] Key principles Definitions and cross references History and explanatory materials Texts and literature [5.437C] Powers of other officers suspended — Annotations to former section 437C [Current to July 2022] [5.437D] Only administrator can deal with company's property — Annotations to section 437D [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.437E] Orders for compensation where officer involved in void transaction — Annotations to section 437E [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.437F] Effect of administration on company's members — Annotations to section 437F [Current to July 2022] Key principles Transfer of shares Alteration in status History and explanatory materials Texts and literature Division 4 — Administrator investigates company's affairs [ss 438A–438E] [5.438A] Administrator to investigate affairs and consider possible causes of action — Annotations to section 438A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.438B] Directors to help administrator — Annotations to section 438B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.438C] Administrator's right to company books — Annotations to section 438C [Current to July 2022] History and explanatory materials Instruments and class orders Texts and literature [5.438D] Reports by administrator — Annotations to section 438D [Current to July 2022] Key principles History and explanatory materials Definitions and cross-references Texts and literature [5.438E] Administrator's accounts — Annotations to former section 438E [Current to July 2022] Division 5 — Meeting of creditors decides company's future [ss 439A–439C] [5.439A] Administrator to convene meeting and inform creditors — Annotations to section 439A [Current to July 2022] Key principles Options available to creditors at second meeting Time for holding second meeting Administrators' report to creditors Extension of time for second meeting under s 439A(6) Orders under s 447A Orders under s 1322 Definitions and cross-references History and explanatory materials Instruments and class orders Convening and conduct of second meeting Voting at second meeting How chairperson deals with proofs of debt Texts and literature [5.439B] Conduct of meeting — Annotations to former section 439B [Current to July 2022] Key principles History and explanatory materials [5.439C] What creditors may decide — Annotations to section 439C [Current to July 2022] Key principles Resolution that company execute deed of company arrangement Resolution that company be wound up Definitions and cross-references History and explanatory materials Texts and literature Division 6 — Protection of company's property during administration [ss 440A–440JA] [5.440A] Winding up company — Annotations to section 440A [Current to July 2022] Key principles Matters relevant to adjournment of winding up application Court's inherent jurisdiction Appointment of provisional liquidator History and explanatory materials Texts and literature [5.440B] Restrictions on exercise of third party property rights — Annotations to section 440B [Current to July 2022] Key principles Scope of the section Definitions and cross-references History and explanatory materials Texts and literature [5.440D] Leave to bring court proceedings against a company in administration — Annotations to section 440D [Current to July 2022] Key principles Purpose of this section When leave will be granted When leave not required under this section Costs of proceedings involving administrators Definitions and cross-references History and explanatory materials Texts and literature [5.440E] Administrator not liable in damages for refusing consent — Annotations to section 440E [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.440F] Suspension of enforcement process — Annotations to section 440F [Current to July 2022] Key principles Matters relevant to grant of leave Definitions and cross-references History and explanatory materials Texts and literature [5.440G] Duties of court officer in relation to property of company — Annotations to section 440G [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.440H] Lis pendens taken to exist — Annotations to section 440H [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.440J] Administration not to trigger liability of director or relative under guarantee of company's liability — Annotations to section 440J [Current to July 2022] Key principles Purpose of the section Notice of application When leave is not required Definitions and cross-references History and explanatory materials Texts and literature [5.440JA] Property subject to a banker's lien — Annotations to section 440JA [Current to July 2022] History and explanatory materials Texts and literature Division 7 — Rights of secured party, owner or lessor [ss 441AA–441J] [5.441AA] Application of Subdivision — PPSA security interests — Annotations to section 441AA Key principles History and explanatory materials [5.441A] Where secured party acts before or during decision period — Annotations to section 441A [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.441B] Where enforcement of security interest begins before administration — Annotations to section 441B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.441C] Security interest in perishable property — Annotations to section 441C [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.441D] Court may limit powers of secured party etc in relation to secured property — Annotations to section 441D [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.441E] Giving a notice under a security agreement — Annotations to section 441E [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.441EA] Sale of property subject to a possessory security agreement — Annotations to section 441EA Key principles History and explanatory materials Subdivision C — Property not subject to security interests [ss 441EB–441J] [5.441EB] Scope of Subdivision — Annotations to section 441EB Key principles History and explanatory materials [5.441F] Where recovery of property begins before administration and perishable property — Annotations to sections 441F–441G [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.441H] Court may limit powers of receiver etc in relation to property used by company — Annotations to section 441H [Current to July 2022] History and explanatory materials Texts and literature [5.441J] Giving a notice under an agreement about property — Annotations to section 441J Key principles Division 8 — Powers of administrator [ss 442A–442F] [5.442A] Additional powers of administrator — Annotations to section 442A [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.442B] Dealing with property subject to circulating security interests — Annotations to section 442B [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.442C] When administrator may dispose of encumbered property — Annotations to section 442C [Current to July 2022] Key principles Sale of property subject to a security interest When leave will be granted History and explanatory materials Texts and literature [5.442CA] Property subject to a possessory security interest — inspection or examination by potential purchasers etc — Annotations to section 442CA [Current to July 2022] Key principles History and explanatory materials [5.442CB] Property subject to a security interest or a retention of title clause — administrator's duty of care in exercising power of sale — Annotations to section 442CB [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [5.442CC] Proceeds of sale of property — Annotations to section 442CC [Current to July 2022] Key principles Definitions and cross references History and explanatory materials [5.442D] Administrator's powers subject to powers of secured party, receiver or controller — Annotations to section 442D [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.442E] Administrator has qualified privilege — Annotations to section 442E [Current to July 2022] Definitions and cross-references History and explanatory materials Texts and literature [5.442F] Protection of persons dealing with administrator — Annotations to section 442F [Current to July 2022] Key principles Division 9 — Administrator's liability and indemnity for debts of administration [ss 443A–443F] [5.443A] General debts — Annotations to section 443A [Current to July 2022] Key principles Administrator's personal liability Liability for advances to administrator Variation of administrator's liability under s 447A History and explanatory materials Texts and literature [5.443B] Payments for property used or occupied by, or in the possession of, the company — Annotations to section 443B [Current to July 2022] Key principles Scope of section Order extending time for giving of notice Order that administrator is not personally liable History and explanatory materials Instruments and class orders Texts and literature [5.443BA] Certain taxation liabilities — Annotations to section 443BA [Current to July 2022] Key principles History and explanatory materials [5.443C] Administrator not otherwise liable for company's debts — Annotations to section 443C [Current to July 2022] History and explanatory materials [5.443D] Right of indemnity — Annotations to section 443D [Current to July 2022] Key principles Scope of administrator's right of indemnity No application to administrator under deed of company arrangement Definitions and cross references History and explanatory materials Texts and literature [5.443E] Right of indemnity has priority over other debts — Annotations to section 443E [Current to July 2022] Key principles Priority of administrator's statutory right of indemnity Conflict with receiver's indemnity Limits to priority No application to administrator under deed of company arrangement History and explanatory materials Texts and literature [5.443F] Lien to secure indemnity — Annotations to section 443F [Current to July 2022] Key principles Administrator's statutory lien Administrator's equitable lien No application to administrator under deed of company arrangement History and explanatory materials Texts and literature Division 10 — Execution and effect of deed of company arrangement [ss 444A–444J] [5.444A] Effect of creditors' resolution — Annotations to section 444A [Current to July 2022] Key principles Requirements for deed of company arrangement Claims within the scope of deed Deed does not confer contractual rights on individual creditors Ownership of assets contributed under deed of company arrangement "Holding" deed of company arrangement Nature of creditors' trust Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.444B] Execution of deed — Annotations to section 444B [Current to July 2022] Key principles Execution of deed Extension of time to execute deed Extension of time under s 447A Definitions and cross-references History and explanatory materials Texts and literature [5.444C] Creditor not to act inconsistently with deed before its execution — Annotations to section 444C [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.444D] Effect of deed on creditors — Annotations to section 444D [Current to July 2022] Key principles Deed of company arrangement binds creditors Secured creditors Owners and lessors of property Definitions and cross-references History and explanatory materials Texts and literature [5.444DA] Giving priority to eligible employee creditors — Annotations to section 444DA [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.444DB] Superannuation contribution debts not admissible to proof — Annotations to section 444DB [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.444E] Protection of company's property from persons bound by deed — Annotations to section 444E [Current to July 2022] Key principles Scope of section Prohibition on winding up application Leave required to bring proceedings or take enforcement process Matters relevant to grant of leave History and explanatory materials Texts and literature [5.444F] Court may limit right of secured creditor or owner or lessor — Annotations to section 444F [Current to July 2022] Key principles Orders in respect of secured creditors Orders in respect of owners and lessors Factors relevant to making of an order Definitions and cross-references History and explanatory materials Texts and literature [5.444G] Effect of deed on company, officers and members — Annotations to section 444G [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.444GA] Transfer of shares — Annotations to section 444GA [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.444H] Extent of release of company's debts — Annotations to section 444H [Current to July 2022] Key principles Application of set-off principles in administration History and explanatory materials Texts and literature [5.444J] Guarantees and indemnities — Annotations to section 444J [Current to July 2022] Key principles History and explanatory materials Texts and literature Division 11 — Variation, termination and avoidance of deed [ss 445A–445H] [5.445A] Variation of deed by creditors — Annotations to section 445A [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.445B] Court may cancel variation — Annotations to section 445B [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.445C] When deed terminates — Annotations to section 445C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.445CA] When creditors may terminate deed — Annotations to section 445CA [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.445D] When court may terminate deed — Annotations to section 445D [Current to July 2022] Key principles Effect of termination order Court may terminate deed where false or misleading information given to creditors or for material omission or contravention Court may terminate deed for material contravention Court may terminate deed for injustice or undue delay Court may terminate deed for oppression, unfair prejudice or unfair discrimination When discrimination or prejudice is unfair Whether deed is contrary to the interests of creditors as a whole Termination of deed for some other reason Court has discretion whether to terminate deed Standing History and explanatory materials Instruments and class orders Texts and literature [5.445E] Creditors may terminate deed and resolve that company be wound up — Annotations to section 445E [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.445F] Meeting of creditors to consider proposed variation or termination of deed — Annotations to former section 445F [Current to July 2022] [5.445FA] Notice of termination of deed — Annotations to section 445FA [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.445G] When court may void or validate deed — Annotations to section 445G [Current to July 2022] Key principles Declaring deed to be void Declaring deed to be valid History and explanatory materials Texts and literature [5.445H] Effect of termination or avoidance — Annotations to section 445H [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.445J] Annotations to former Division 11A — Deed administrator's accounts [s 445J] [Current to July 2022] Division 11AA— Notification of contravention of deed [s 445HA] [5.445HA] Administrator becomes liquidator in certain cases — notations to section 445HA [Current to September 2019] Key principles History and explanatory materials Texts and literature Division 12 — Transition to creditors' voluntary winding up [ss 446A–446C] [5.446A] Administrator becomes liquidator in certain cases — Annotations to section 446A [Current to July 2022] Key principles Application of section Position if liquidator initiates a voluntary administration Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.446AA] Administrator becomes liquidator — additional cases — Annotations to section 446AA [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.446B] Regulations may provide for transition in other cases — Annotations to section 446B [Current to July 2022] Instruments and class orders Texts and literature [5.446C] Liquidator may require submission of report about company's affairs — Annotations to section 446C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 13 — Powers of court [ss 447A–447F] [5.447A] General power to make orders — Annotations to section 447A [Current to July 2022] Key principles Scope of section Limits to the court's powers under this section Orders as to administrator Invalidity of administrator's appointment Fixing administrator's remuneration Expanding administrator's right of indemnity or limiting administrator's personal liability Appointment of administrator Orders in relation to creditors' meetings Setting aside resolution passed at creditors' meeting Orders as to deed of company arrangement Extending time for entry into deed of company arrangement Variation of deed of company arrangement Other matters Role of committee of creditors Pooling Order terminating administration History and explanatory materials Texts and literature [5.447B] Orders to protect creditors during administration — Annotations to section 447B [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.447C] Court may declare whether administrator validly appointed — Annotations to section 447C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.447D] Administrator may seek directions — Annotations to former section 447D [Current to July 2022] [5.447E] Supervision of administrator of company or deed — Annotations to former section 447E [Current to July 2022] [5.447F] Effect of Pt 5.3A Div 13 — Annotations to section 447F [Current to July 2022] Key principles History and explanatory materials Division 14 — Qualifications of administrators [ss 448A–448C] [5.448A] Qualifications of administrators — Annotations to sections 448A–448C [Current to July 2022] Key principles Scope of sections Disqualification of partner, employee or employer of officer of the company Effect of failure to obtain leave under s 448C prior to appointment History and explanatory materials Texts and literature Division 15 — Removal and replacement of administrators [ss 449A–449E] [5.449A] Appointment of administrator cannot be revoked — Annotations to section 449A [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.449B] Court may remove administrator — Annotations to former section 449B [Current to July 2022] [5.449C] Vacancy in office of administrator — Annotations to section 449C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.449CA] Declarations by administrator – indemnities and relevant relationships — Annotations to section 449CA [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.449D] Vacancy in office of administrator of deed of company arrangement — Annotations to former section 449D [Current to July 2022] [5.449E] Remuneration of administrator — Annotations to former section 449E [Current to July 2022] Division 16 — Notices about steps taken under part [ss 450A–450F] [5.450A] Notices about steps taken under Part 5.3A — Annotations to sections 450A–450F [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 17 — Miscellaneous [ss 451A–451H] [5.451A] Miscellaneous — Annotations to sections 451A–451D [Current to July 2022] Key principles Appointment of two or more administrators of a company Extension under s 451D History and explanatory materials Texts and literature [5.451E] Stay on ipso fact clauses where company is under administration — Annotations to sections 451E–451H [Current to July 2022] Key principles Instruments and class orders History and explanatory materials Part 5.3B — Restructuring of a company [ss 452A–458H] [5.452A] Object of the Part and definitions — Annotations to sections 452A–452B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [5.453A] When restructuring begins and ends and appointment of restructuring practitioner — Annotations to sections 453A–453D [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [5.453E] Role of the restructuring practitioner during restructuring — Annotations to sections 453E–453J [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [5.453K] Conduct of company during restructuring — Annotations to sections 453K–453P [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [5.453Q] Effect on company during restructuring — Annotations to sections 453Q–453X [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.454A] Rights of secured party, owner or lessor during restructuring — Annotations to sections 454A–454M [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [5.454N] Enforcement rights triggered by restructuring — Annotations to sections 454N–454S [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [5.455A] Restructuring plan — Annotations to sections 455A–455B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [5.456A] Restructuring practitioner — Annotations to sections 456A–456N [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [5.457A] Information, reports, documents etc — Annotations to sections 457A–457C [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [5.458A] Powers of the court and other matters — Annotations to sections 458A–458C [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [5.458D] Temporary relief for companies seeking a restructuring practitioner — Annotations to ss 458D–458H [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Division 2 — Statutory demand [ss 459E–459F] [5.459E] Creditor may serve statutory demand on company — Annotations to section 459E [Current to September 2020] Key principles When a statutory demand may be served Contingent or prospective liability may not be subject of statutory demand Form of statutory demand Claim for foreign currency debt Execution of statutory demand Affidavit verifying statutory demand Service of statutory demand Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.459F] When company taken to fail to comply with statutory demand — Annotations to section 459F [Current to September 2020] Key principles Scope of section Extension of time pending appeal or application to set aside dismissal History and explanatory materials Texts and literature Division 3 — Application to set aside statutory demand [ss 459G–459N] [5.459G] Company may apply to set aside statutory demand — Annotations to section 459G [Current to September 2020] Key principles When application can be made Manner of service No power to extend time Contents of affidavit Supplementing initial affidavit Court's jurisdiction to restrain a winding up application Security for costs Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.459H] Determination of application where there is a dispute or offsetting claim — Annotations to section 459H [Current to September 2020] Key principles Scope of the section Whether a genuine dispute exists Scope of court's role in determining whether genuine dispute exists Relevance of solvency When a genuine dispute is not established Offsetting claim When the court will set aside or vary the demand History and explanatory materials Texts and literature [5.459J] Setting aside demand on other grounds — Annotations to section 459J [Current to September 2020] Key principles Setting aside for defect in the demand Examples of matters which warranted setting aside the demand Examples of matters which did not warrant setting aside the demand When a demand can be set aside for some other reason under s 459J(1)(b) Overstatement of amount of debt Genuine dispute as to the existence or amount of the debt may allow demand to be set aside under s 459J(1)(b) Deponent does not have personal knowledge of relevant facts Failure to verify that debt is due and payable Affidavit sworn before date of demand Knowledge of ineffective service Demand made for improper purpose Proof of solvency Definitions and cross-references History and explanatory materials Texts and literature [5.459K] Effect of order setting aside statutory demand — Annotations to section 459K [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.459L] Dismissal of application — Annotations to section 459L [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.459M] Order subject to conditions — Annotations to section 459M [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.459N] Costs where company successful — Annotations to section 459N [Current to September 2020] Key principles History and explanatory materials Texts and literature Division 4 — Application for order to wind up company in insolvency [ss 459P–459T] [5.459P] Who may apply for an order under section 459A — Annotations to section 459P [Current to September 2020] Key principles Standing to bring winding up application under s 459A Standing to bring winding up application with leave under s 459P(2) Whether person with claim for damages is contingent creditor Winding up application by director Leave may be granted with retrospective effect Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.459Q] Application relying on failure to comply with statutory demand — Annotations to section 459Q [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.459R] Period within which application must be determined — Annotations to section 459R [Current to September 2020] Key principles Scope of the section Application of the slip rule Extension of time History and explanatory materials Texts and literature [5.459S] Company may not oppose application on certain grounds — Annotations to section 459S [Current to September 2020] Key principles Scope of section Issues in application for leave Limitation applies where ground for opposition existed at time of s 459G procedure History and explanatory materials Texts and literature [5.459T] Application to wind up joint debtors in insolvency — Annotations to section 459T [Current to September 2020] Key principles History and explanatory materials Texts and literature Part 5.4 — Winding up in insolvency [ss 459A–459T] Division 1 — When company to be wound up in insolvency [ss 459A–459D] [5.459A] Order that insolvent company be wound up in insolvency — Annotations to section 459A [Current to July 2022] Key principles Nature of winding up When a winding up order can be made Where company is already in creditors' voluntary winding up or has been deregistered Definitions and cross-references History and explanatory materials Texts and literature [5.459B] Order made on application under s 234, s 462 or s 464 — Annotations to section 459B [Current to July 2022] History and explanatory materials [5.459C] Presumptions to be made in certain proceedings — Annotations to section 459C [Current to July 2022] Key principles Time in which presumption applies Presumption may be rebutted History and explanatory materials Texts and literature [5.459D] Contingent or prospective liability relevant to whether company solvent — Annotations to section 459D [Current to July 2022] History and explanatory materials Texts and literature Division 2 — Statutory demand [ss 459E–459F] [5.459E] Creditor may serve statutory demand on company — Annotations to section 459E [Current to July 2022] Key principles When a statutory demand may be served Contingent or prospective liability may not be subject of statutory demand Form of statutory demand Claim for foreign currency debt Execution of statutory demand Affidavit verifying statutory demand Service of statutory demand Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.459F] When company taken to fail to comply with statutory demand — Annotations to section 459F [Current to July 2022] Key principles Scope of section Extension of time pending appeal or application to set aside dismissal History and explanatory materials Texts and literature Division 3 — Application to set aside statutory demand [ss 459G–459N] [5.459G] Company may apply to set aside statutory demand — Annotations to section 459G [Current to July 2022] Key principles When application can be made Manner of service No power to extend time Contents of affidavit Supplementing initial affidavit Court's jurisdiction to restrain a winding up application Security for costs Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.459H] Determination of application where there is a dispute or offsetting claim — Annotations to section 459H [Current to July 2022] Key principles Scope of the section Whether a genuine dispute exists Scope of court's role in determining whether genuine dispute exists Relevance of solvency When a genuine dispute is not established Offsetting claim When the court will set aside or vary the demand History and explanatory materials Texts and literature [5.459J] Setting aside demand on other grounds — Annotations to section 459J [Current to July 2022] Key principles Setting aside for defect in the demand Examples of matters which warranted setting aside the demand Examples of matters which did not warrant setting aside the demand When a demand can be set aside for some other reason under s 459J(1)(b) Overstatement of amount of debt Genuine dispute as to the existence or amount of the debt may allow demand to be set aside under s 459J(1)(b) Deponent does not have personal knowledge of relevant facts Failure to verify that debt is due and payable Affidavit sworn before date of demand Knowledge of ineffective service Demand made for improper purpose Proof of solvency Definitions and cross-references History and explanatory materials Texts and literature [5.459K] Effect of order setting aside statutory demand — Annotations to section 459K [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.459L] Dismissal of application — Annotations to section 459L [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.459M] Order subject to conditions — Annotations to section 459M [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.459N] Costs where company successful — Annotations to section 459N [Current to July 2022] Key principles History and explanatory materials Texts and literature Division 4 — Application for order to wind up company in insolvency [ss 459P–459T] [5.459P] Who may apply for an order under section 459A — Annotations to section 459P [Current to July 2022] Key principles Standing to bring winding up application under s 459A Standing to bring winding up application with leave under s 459P(2) Whether person with claim for damages is contingent creditor Winding up application by director Leave may be granted with retrospective effect Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.459Q] Application relying on failure to comply with statutory demand — Annotations to section 459Q [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.459R] Period within which application must be determined — Annotations to section 459R [Current to July 2022] Key principles Scope of the section Application of the slip rule Extension of time History and explanatory materials Texts and literature [5.459S] Company may not oppose application on certain grounds — Annotations to section 459S [Current to July 2022] Key principles Scope of section Issues in application for leave Limitation applies where ground for opposition existed at time of s 459G procedure History and explanatory materials Texts and literature [5.459T] Application to wind up joint debtors in insolvency — Annotations to section 459T [Current to July 2022] Key principles History and explanatory materials Texts and literature Part 5.4A — Winding up by the court on other grounds [ss 461–464] [5.461] General grounds on which company can be wound up by the court — Annotations to section 461 [Current to July 2022] Key principles Winding up following special resolution etc Directors have acted in own interests: s 461(1)(e) Winding up for oppression: s 461(1)(f) Winding up following report by ASIC: s 461(1)(h) Winding up on just and equitable ground: s 461(1)(k) Court's discretion whether to make winding up order Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.462] Standing to apply for winding up — Annotations to section 462 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.464] Application for winding up in connection with investigation under ASIC Act — Annotations to section 464 [Current to July 2022] Key principles History and explanatory materials Texts and literature Division 1A — Effect of winding up order [ss 471–471C] [5.471] Effect on creditors and contributories — Annotations to section 471 [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.471A] Powers of other officers suspended during winding up — Annotations to former section 471A [Current to September 2020] [5.471B] Stay of proceedings and suspension of enforcement process — Annotations to section 471B [Current to September 2020] Key principles Purpose of requirement for leave Application where provisional liquidator has been appointed Matters relevant to grant of leave Leave may be granted with retrospective effect Principles applicable to costs of litigation brought by and against liquidators Definitions and cross-references History and explanatory materials Texts and literature [5.471C] Secured creditors' rights not affected — Annotations to section 471C [Current to September 2020] Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Court-appointed liquidators [ss 472–481] [5.472] Court to appoint a registered liquidator — Annotations to section 472 [Current to September 2020] Key principles Court appointment and role of liquidator Liquidator's independence Conflict of interest When a provisional liquidator will be appointed Shareholder disputes and oppressive conduct Improper conduct Appointment of provisional liquidator on creditor's application Appointment of provisional liquidator on company's application Powers of provisional liquidator Court can give directions to provisional liquidator Termination of appointment of provisional liquidator History and explanatory materials Instruments and class orders Consent to appointment Undertaking as to damages Texts and literature [5.473] Resignation of liquidators — Annotations to section 473 [Current to September 2020] History and explanatory materials Instruments and class orders [5.473A] Vacancies in office of court-appointed liquidator — Annotations to section 473A [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.474] Custody and vesting of company's property — Annotations to section 474 [Current to September 2020] Key principles Liquidator takes custody or control of company's property Vesting order Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.475] Report as to company's affairs to be submitted to liquidator — Annotations to section 475 [Current to September 2020] Key principles Persons who may be required to provide report Reasonable excuse Costs and expenses of report Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.476] Preliminary report by liquidator — Annotations to former section 476 [Current to September 2020] [5.477] Powers of liquidators — Annotations to section 477 [Current to September 2020] Key principles Scope of liquidator's powers Payment of class of creditors in full (s 477(1)(b)) Power to make a compromise (s 477(1)(c)) Power to sell or dispose of company's property (s 477(2)(c)) Execution of documents (s 477(2)(d)) Power to do all things necessary for winding up the company's affairs (s 477(2)(m)) Compromise of debts (s 477(2A)) Long term agreements (s 477(2B)) Liquidator's exercise of discretion Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.478] Application of property; list of contributories — Annotations to section 478 [Current to September 2020] Key principles When company's liabilities are to be determined Settlement of list of contributories List of contributories is prima facie evidence Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.479] Exercise and control of liquidator's powers — Annotations to former section 479 [Current to September 2020] [5.480] Release of liquidator and deregistration of company — Annotations to section 480 [Current to September 2020] Key principles Effect of liquidator's release History and explanatory materials Instruments and class orders Texts and literature [5.481] Orders for release or deregistration — Annotations to section 481 [Current to September 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 3 — General powers of court [ss 482–489E] Subdivision A — General powers [ss 482–488] [5.482] Power to stay or terminate winding up — Annotations to section 482 [Current to September 2020] Key principles Scope of the section Relevant factors to an order under the section Relevance of solvency Where winding up order made irregularly Whether a winding up should be terminated following approval of deed of company arrangement Stay of winding up order made by court of another state Stay of winding up pending appeal Effect of stay of winding up on directors' powers Stay or termination of provisional liquidation Position in respect of voluntary winding up Order can be made after final meeting under s 509 Standing Notice of application History and explanatory materials Instruments and class orders Texts and literature [5.483] Delivery of property to liquidator — Annotations to section 483 [Current to September 2020] Key principles Purpose of the section Prima facie entitlement Payment by contributory Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.484] Appointment of special manager — Annotations to section 484 [Current to September 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.485] Claims of creditors and distribution of property — Annotations to section 485 [Current to September 2020] Key principles Adjustment of rights of contributories The rule in Cherry v Boultbee History and explanatory materials Texts and literature [5.486] Inspection of books by creditors and contributories — Annotations to section 486 [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.486A] Court may make order to prevent officer or related entity from avoiding liability to company — Annotations to section 486A [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.486B] Warrant to arrest person who is absconding — Annotations to section 486B [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Definitions and cross-references Texts and literature [5.487] Power to arrest absconding contributory — Annotations to section 487 [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials [5.488] Delegation to liquidator of certain powers of the court — Annotations to section 488 [Current to September 2020] Key principles Scope of section Distribution of surplus Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Subdivision B — Procedures relating to section 486B warrants [ss 489A–489E] [5.489A] Arrest of person subject to warrant — Annotations to sections 489A–489E [Current to September 2020] Key principles History and explanatory materials Part 5.4B — Winding up in insolvency or by the court [ss 465A–489E] Division 1 — General [ss 465–470] [5.465] Definitions — Annotations to section 465 Key principles Definitions and cross-references History and explanatory material [5.465A] Notice of application — Annotations to section 465A [Current to July 2022] Key principles Scope of Part 5.4B Service of winding up application Advertising of winding up application Notice of winding up order History and explanatory materials Instruments and class orders Texts and literature [5.465B] Substitution of applicants — Annotations to section 465B [Current to July 2022] Key principles Scope of the section Whether order for substitution should be made if debt is disputed History and explanatory materials Instruments and class orders Texts and literature [5.465C] Applicant to be given notice of grounds for opposing application — Annotations to section 465C [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.466] Payment of preliminary costs etc — Annotations to section 466 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.467] Court's powers on hearing application — Annotations to section 467 [Current to July 2022] Key principles Orders in relation to winding up Circumstances in which court must not refuse winding up application Dispensing with service and reports of company's affairs Application by contributories for winding up on just and equitable ground History and explanatory materials Instruments and class orders Texts and literature [5.467A] Effect of defect or irregularity on application under Pt 5.4 or Pt 5.4A — Annotations to section 467A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.467B] Court may order winding up of company that is being wound up voluntarily — Annotations to section 467B [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.468] Avoidance of dispositions of property, attachments etc — Annotations to section 468 [Current to July 2022] Key principles Scope and purpose of this section Dispositions to which this section applies Exercise of discretion to validate transaction Avoidance of attachments etc Proper plaintiff for recovery action Definitions and cross-references History and explanatory materials Texts and literature [5.468A] Effect of winding up on company's members — Annotations to section 468A [Current to July 2022] Key principles Transfer of shares Alteration in status History and explanatory material Texts and literature [5.469] Application to be lis pendens — Annotations to section 469 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.470] Certain notices to be lodged — Annotations to section 470 [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 1A — Effect of winding up order [ss 471–471C] [5.471] Effect on creditors and contributories — Annotations to section 471 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.471A] Powers of other officers suspended during winding up — Annotations to former section 471A [Current to July 2022] [5.471B] Stay of proceedings and suspension of enforcement process — Annotations to section 471B [Current to July 2022] Key principles Purpose of requirement for leave Application where provisional liquidator has been appointed Matters relevant to grant of leave Leave may be granted with retrospective effect Principles applicable to costs of litigation brought by and against liquidators Definitions and cross-references History and explanatory materials Texts and literature [5.471C] Secured creditors' rights not affected — Annotations to section 471C [Current to July 2022] Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Court-appointed liquidators [ss 472–481] [5.472] Court to appoint a registered liquidator — Annotations to section 472 [Current to July 2022] Key principles Court appointment and role of liquidator Liquidator's independence Conflict of interest When a provisional liquidator will be appointed Shareholder disputes and oppressive conduct Improper conduct Appointment of provisional liquidator on creditor's application Appointment of provisional liquidator on company's application Powers of provisional liquidator Court can give directions to provisional liquidator Termination of appointment of provisional liquidator History and explanatory materials Instruments and class orders Consent to appointment Undertaking as to damages Texts and literature [5.473] Resignation of liquidators — Annotations to section 473 [Current to July 2022] History and explanatory materials Instruments and class orders [5.473A] Vacancies in office of court-appointed liquidator — Annotations to section 473A [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.474] Custody and vesting of company's property — Annotations to section 474 [Current to July 2022] Key principles Liquidator takes custody or control of company's property Vesting order Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.475] Report as to company's affairs to be submitted to liquidator — Annotations to section 475 [Current to July 2022] Key principles Persons who may be required to provide report Reasonable excuse Costs and expenses of report Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.476] Preliminary report by liquidator — Annotations to former section 476 [Current to July 2022] [5.477] Powers of liquidators — Annotations to section 477 [Current to July 2022] Key principles Scope of liquidator's powers Payment of class of creditors in full (s 477(1)(b)) Power to make a compromise (s 477(1)(c)) Power to sell or dispose of company's property (s 477(2)(c)) Execution of documents (s 477(2)(d)) Power to do all things necessary for winding up the company's affairs (s 477(2)(m)) Compromise of debts (s 477(2A)) Long term agreements (s 477(2B)) Liquidator's exercise of discretion Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.478] Application of property; list of contributories — Annotations to section 478 [Current to July 2022] Key principles When company's liabilities are to be determined Settlement of list of contributories List of contributories is prima facie evidence Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.479] Exercise and control of liquidator's powers — Annotations to former section 479 [Current to July 2022] [5.480] Release of liquidator and deregistration of company — Annotations to section 480 [Current to July 2022] Key principles Effect of liquidator's release History and explanatory materials Instruments and class orders Texts and literature [5.481] Orders for release or deregistration — Annotations to section 481 [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 3 — General powers of court [ss 482–489E] Subdivision A — General powers [ss 482–488] [5.482] Power to stay or terminate winding up — Annotations to section 482 [Current to July 2022] Key principles Scope of the section Relevant factors to an order under the section Relevance of solvency Where winding up order made irregularly Whether a winding up should be terminated following approval of deed of company arrangement Whether a winding up should be terminated where company is subject to a restructuring plan Stay of winding up order made by court of another state Stay of winding up pending appeal Effect of stay of winding up on directors' powers Stay or termination of provisional liquidation Position in respect of voluntary winding up Order can be made after final meeting under s 509 Standing Notice of application History and explanatory materials Instruments and class orders Texts and literature [5.483] Delivery of property to liquidator — Annotations to section 483 [Current to July 2022] Key principles Purpose of the section Prima facie entitlement Payment by contributory Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.484] Appointment of special manager — Annotations to section 484 [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.485] Claims of creditors and distribution of property — Annotations to section 485 [Current to July 2022] Key principles Adjustment of rights of contributories The rule in Cherry v Boultbee History and explanatory materials Texts and literature [5.486] Inspection of books by creditors and contributories — Annotations to section 486 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.486A] Court may make order to prevent officer or related entity from avoiding liability to company — Annotations to section 486A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.486B] Warrant to arrest person who is absconding — Annotations to section 486B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Definitions and cross-references Texts and literature [5.487] Power to arrest absconding contributory — Annotations to section 487 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [5.488] Delegation to liquidator of certain powers of the court — Annotations to section 488 [Current to July 2022] Key principles Scope of section Distribution of surplus Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Subdivision B — Procedures relating to section 486B warrants [ss 489A–489E] [5.489A] Arrest of person subject to warrant — Annotations to sections 489A–489E [Current to July 2022] Key principles History and explanatory materials Part 5.4C — Winding up by ASIC [ss 489EA–489EC] [5.489EA] ASIC may order the winding up of a company — Annotations to sections 489EA–489EC Key principles Definitions and coss-references History and explanatory materials Instruments and class orders Texts and literature Division 1 — Resolution for winding up [ss 490–494] [5.490] When company cannot wind up voluntarily — Annotations to section 490 [Current to September 2020] Key principles Purpose of the section Matters relevant to grant of leave Leave is not required for deemed resolution under s 439C History and explanatory materials Texts and literature [5.491] Circumstances in which company may be wound up voluntarily — Annotations to section 491 [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.493] Effect of voluntary winding up — Annotations to section 493 [Current to September 2020] Key principles Carrying on of business History and explanatory materials Texts and literature [5.493A] Effect of voluntary winding up on company's members — Annotations to section 493A [Current to September 2020] Key principles Transfer of shares Alteration in status History and explanatory material Texts and literature [5.494] Declaration of solvency — Annotations to section 494 [Current to September 2020] Key principles Declaration of solvency Defect in declaration of solvency Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 2 — Members' voluntary winding up [ss 495–496] [5.495] Appointment of liquidator etc — Annotations to section 495 [Current to September 2020] Key principles Appointment of liquidator and fixing liquidator's remuneration Definitions and cross-references History and explanatory materials Texts and literature [5.496] Duty of liquidator where company turns out to be insolvent — Annotations to section 496 [Current to September 2020] Key principles Application of section Matters dealt with at creditors' meeting History and explanatory materials Instruments and class orders Texts and literature Division 3 — Creditors' voluntary winding up [ss 497–500] [5.497] Information about the company's affairs — Annotations to section 497 [Current to September 2020] Key principles Initial meeting of creditors no longer required History and explanatory materials Instruments and class orders Texts and literature [5.498] Power to adjourn meeting — Annotations to former section 498 [Current to September 2020] [5.499] Liquidators — Annotations to section 499 [Current to September 2020] Key principles Appointment of liquidator Transition from administration to voluntary winding up Effect on directors' powers Principle in Re Condon; Ex parte James History and explanatory materials Texts and literature [5.500] Execution and civil proceedings — Annotations to section 500 [Current to September 2020] Key principles Attachments etc void Stay of proceedings Court's power to order transfer of property History and explanatory materials Texts and literature Division 4 — Voluntary winding up generally [ss 501–511] [5.501] Distribution of property of company — Annotations to section 501 [Current to September 2020] Key principles Scope of section Property previously held by administrator Distribution of surplus History and explanatory materials Instruments and class orders Texts and literature [5.502] Appointment of liquidator — Annotations to former section 502 [Current to September 2020] [5.503] Removal of liquidator — Annotations to former section 503 [Current to September 2020] [5.504] Review of liquidator's remuneration — Annotations to former section 504 [Current to September 2020] [5.505] Acts of liquidator valid etc — Annotations to former section 505 [Current to September 2020] [5.506] Powers and duties of liquidator — Annotations to section 506 [Current to September 2020] Key principles Liquidator's exercise of powers in voluntary winding up List of contributories Multiple liquidators History and explanatory materials Instruments and class orders Texts and literature [5.506A] Declarations by liquidator — relevant relationships — Annotations to section 506A [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.507] Power of liquidator to accept shares etc as consideration for sale of property of company — Annotations to section 507 [Current to September 2020] Key principles Scope of section History and explanatory materials Instruments and class orders Texts and literature [5.508] Annual meeting of creditors — Annotations to former section 508 [Current to September 2020] [5.509] Final meeting and deregistration — Annotations to section 509 [Current to September 2020] Key principles Deregistration of company History and explanatory materials [5.510] Arrangement: when binding on creditors — Annotations to section 510 [Current to September 2020] Key principles When section applies Resolution of creditors Pooling of assets Dissenting creditors Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.511] Application to court to have questions determined or powers exercised — Annotations to former section 511 [Current to September 2020] Texts and literature Part 5.5 — Voluntary winding up [ss 489F–511] Division 1A — Preliminary [s 489F] [5.489F] Definitions — Annotations to section 489F [Current to July 2022] Key principles Definitions and cross-references History and explanatory material Division 1 — Resolution for winding up [ss 490–494] [5.490] When company cannot wind up voluntarily — Annotations to section 490 [Current to July 2022] Key principles Purpose of the section Matters relevant to grant of leave Leave is not required for deemed resolution under s 439C History and explanatory materials Texts and literature [5.491] Circumstances in which company may be wound up voluntarily — Annotations to section 491 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.493] Effect of voluntary winding up — Annotations to section 493 [Current to July 2022] Key principles Carrying on of business History and explanatory materials Texts and literature [5.493A] Effect of voluntary winding up on company's members — Annotations to section 493A [Current to July 2022] Key principles Transfer of shares Alteration in status History and explanatory material Texts and literature [5.494] Declaration of solvency — Annotations to section 494 [Current to July 2022] Key principles Declaration of solvency Defect in declaration of solvency Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 2 — Members' voluntary winding up [ss 495–496] [5.495] Appointment of liquidator etc — Annotations to section 495 [Current to July 2022] Key principles Appointment of liquidator and fixing liquidator's remuneration Definitions and cross-references History and explanatory materials Texts and literature [5.496] Duty of liquidator where company turns out to be insolvent — Annotations to section 496 [Current to July 2022] Key principles Application of section Matters dealt with at creditors' meeting History and explanatory materials Instruments and class orders Texts and literature Division 3 — Creditors' voluntary winding up [ss 497–500] [5.497] Information about the company's affairs — Annotations to section 497 [Current to July 2022] Key principles Initial meeting of creditors no longer required History and explanatory materials Instruments and class orders Texts and literature [5.498] Declaration that company eligible for simplified liquidation process — Annotations to former section 498 [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [5.499] Liquidators — Annotations to section 499 [Current to July 2022] Key principles Appointment of liquidator Transition from administration to voluntary winding up Effect on directors' powers Principle in Re Condon; Ex parte James History and explanatory materials Texts and literature [5.500] Execution and civil proceedings — Annotations to section 500 [Current to July 2022] Key principles Attachments etc void Stay of proceedings Court's power to order transfer of property History and explanatory materials Texts and literature [5.500A] Simplified liquidation process for creditors' voluntary winding up of an insolvent company — Annotations to sections 500A–500AE [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Division 4 — Voluntary winding up generally [ss 501–511] [5.501] Distribution of property of company — Annotations to section 501 [Current to July 2022] Key principles Scope of section Property previously held by administrator Distribution of surplus History and explanatory materials Instruments and class orders Texts and literature [5.502] Appointment of liquidator — Annotations to former section 502 [Current to July 2022] [5.503] Removal of liquidator — Annotations to former section 503 [Current to July 2022] [5.504] Review of liquidator's remuneration — Annotations to former section 504 [Current to July 2022] [5.505] Acts of liquidator valid etc — Annotations to former section 505 [Current to July 2022] [5.506] Powers and duties of liquidator — Annotations to section 506 [Current to July 2022] Key principles Liquidator's exercise of powers in voluntary winding up List of contributories Multiple liquidators History and explanatory materials Instruments and class orders Texts and literature [5.506A] Declarations by liquidator — relevant relationships — Annotations to section 506A [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.507] Power of liquidator to accept shares etc as consideration for sale of property of company — Annotations to section 507 [Current to July 2022] Key principles Scope of section History and explanatory materials Instruments and class orders Texts and literature [5.508] Annual meeting of creditors — Annotations to former section 508 [Current to July 2022] [5.509] Final meeting and deregistration — Annotations to section 509 [Current to July 2022] Key principles Deregistration of company History and explanatory materials [5.510] Arrangement: when binding on creditors — Annotations to section 510 [Current to July 2022] Key principles When section applies Resolution of creditors Pooling of assets Dissenting creditors Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.511] Application to court to have questions determined or powers exercised — Annotations to former section 511 [Current to July 2022] Texts and literature Division 5 — Committees of inspection [former ss 548–552] Division 6 — Proof and ranking of claims [ss 553–564] Subdivision A — Admission to proof of debts and claims [ss 553–553E] [5.553] Debts or claims that are provable in winding up — Annotations to section 553 [Current to September 2020] Key principles Purpose of the section Nature of provable claims Debts incurred in administration Liquidator's consideration of claims Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.553A] Member cannot prove debt unless contributions paid — Annotations to section 553A [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.553AA] Selling shareholder cannot prove debt unless documents given — Annotations to section 553AA Key principles [5.553AB] Superannuation contribution debts not admissible to proof — Annotations to section 553AB [Current to September 2020] Key principles History and explanatory materials [5.553B] Insolvent companies — penalties and fines not generally provable — Annotations to section 553B [Current to September 2020] Key principles Treatment of penalties and fines Position in administration History and explanatory materials Texts and literature [5.553C] Insolvent companies — mutual credit and set-off — Annotations to section 553C [Current to September 2020] Key principles When set-off is available When set-off operates Exclusion of right of set-off History and explanatory materials Texts and literature [5.553D] Debts or claims may be proved formally or informally — Annotations to section 553D [Current to September 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.553E] Application of Bankruptcy Act to winding up of insolvent company — Annotations to section 553E [Current to September 2020] Key principles History and explanatory materials Texts and literature Subdivision B — Computation of debts and claims [ss 554–554C] [5.554] General rule — compute amount as at relevant date — Annotations to section 554 [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials [5.554A] Determination of value of debts and claims of uncertain value — Annotations to section 554A [Current to September 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.554B] Discounting of debts payable after relevant date — Annotations to section 554B [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.554C] Conversion into Australian currency of foreign currency debts or claims — Annotations to section 554C [Current to September 2020] Key principles History and explanatory materials Texts and literature Subdivision C — Special provisions relating to secured creditors of insolvent companies [ss 554D–554J] [5.554D] Application of subdivision — Annotations to sections 554D–554J [Current to September 2020] Key principles Creditor's surrender of security interest Creditor's realisation of security interest Proof by creditor who does not realise or surrender security interest Redemption of security interest by liquidator History and explanatory materials Texts and literature Subdivision D — Priorities [ss 555–563AAA] [5.555] Debts and claims proved to rank equally except as otherwise provided — Annotations to section 555 [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.556] Priority payments — Annotations to section 556 [Current to September 2020] Key principles Priority rules Expenses properly incurred by a relevant authority in preserving, realising or getting in the company's property or carrying on its business (s 556(1)(a)) Costs of winding up application (ss 556(1)(b)–(ba)) Debts for which administrator is indemnified by s 556(1)(c) Costs and expenses of report to liquidator (s 556(1)(da)) Other expenses properly incurred by a relevant authority (s 556(1)(dd)) Deferred expenses (s 556(1)(de)) Wages, superannuation contributions and superannuation guarantee charge (s 556(1)(e)) Amounts due in respect of injury compensation (s 556(1)(f)) Amounts due in respect of leave of absence (s 556(1)(g)) Retrenchment payments (s 556(1)(h)) History and explanatory materials Texts and literature [5.558] Debts due to employees — Annotations to section 558 [Current to September 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.559] Debts of a class to rank equally — Annotations to section 559 [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.560] Advances for company to make priority payments in respect of employees — Annotations to section 560 [Current to September 2020] Key principles When section applies Commonwealth General Employee Entitlements and Redundancy Scheme/Fair Entitlements Guarantee Act 2012 History and explanatory materials Instruments and class orders Texts and literature [5.561] Priority of employees' claims over circulating security interest — Annotations to section 561 [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.562] Application of proceeds of contracts of insurance — Annotations to section 562 [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.562A] Application of proceeds of contracts of reinsurance — Annotations to section 562A [Current to September 2020] Key principles General rules as to contracts of reinsurance Allocation where proceeds are insufficient Court's power to allocate proceeds in different manner History and explanatory materials Texts and literature [5.563] Provisions relating to injury compensation — Annotations to section 563 [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.563A] Member's debts to be postponed until other debts and claims satisfied — Annotations to section 563A [Current to September 2020] Key principles Scope of section Definitions and cross-references History and explanatory materials Texts and literature [5.563AAA] Redemption of debentures — Annotations to section 563AAA Key principles Subdivision E — Miscellaneous [ss 563B–564] [5.563B] Interest on debts and claims from relevant date to date of payment — Annotations to section 563B [Current to September 2020] Key principles Entitlement to post-liquidation interest Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.563C] Debt subordination — Annotations to section 563C [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.564] Power of court to make orders in favour of certain creditors — Annotations to section 564 [Current to September 2020] Key principles Scope of section Relevant matters Definitions and cross-references History and explanatory materials Texts and literature Division 7 — Effect on certain transactions [ss 565–567] [5.565] Undue preference — Annotations to sections 565–567 [Current to September 2020] Key principles Application of preference provisions in Bankruptcy Act Other provisions Definitions and cross-references History and explanatory materials Texts and literature Division 7A — Disclaimer of onerous property [ss 568–568F] [5.568] Disclaimer by liquidator; application to court by party to contract — Annotations to sections 568–568F [Current to September 2020] Key principles Scope of the sections When the court's leave is required Limits to court's powers under s 568(1B) Effect of disclaimer on guarantor When disclaimer may be set aside Person who has suffered loss by reason of disclaimer may prove in winding up Vesting of disclaimed property Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 7B — Effect on enforcement process against company's property [ss 569–570] [5.569] Executions, attachments etc before winding up — Annotations to sections 569–570 [Current to September 2020] Key principles Purpose of s 569 Limits to sheriff's powers Definitions and cross-references History and explanatory materials Texts and literature Division 8 — Pooling [ss 571–579L] Subdivision A — Pooling determinations [ss 571–579C] [5.571] Pooling determination — Annotations to sections 571–573 [Current to September 2020] Key principles When pooling determination can be made Consequences of pooling determination Variation and lodgment of pooling determinations Definitions and cross-references History and explanatory materials Texts and literature [5.574] Eligible unsecured creditors must approve the making or variation of a pooling determination — Annotations to former sections 574–576 [Current to September 2020] [5.577] Eligible unsecured creditors may decide to approve the determination or variation — Annotations to sections 577–578 [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.579] Duties of liquidator — Annotations to section 579 [Current to September 2020] Key principles History and explanatory materials [5.579A] Court may vary or terminate pooling determination — Annotations to section 579A [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.579B] Court may cancel or confirm variation — Annotations to section 579B [Current to September 2020] Key principles History and explanatory materials [5.579C] Court may void or validate pooling determination — Annotations to sections 579C–579D [Current to September 2020] Key principles History and explanatory materials Subdivision B — Pooling orders [ss 579E–579L] [5.579E] Pooling orders — Annotations to sections 579E–579L [Current to September 2020] Key principles When pooling order can be made Consequences of pooling order Other provisions Definitions and cross-references History and explanatory materials Texts and literature Division 9 — Co-operation between Australian and foreign courts in external administration matters [s 581] [5.581] Courts to act in aid of each other — Annotations to section 581 [Current to September 2020] Key principles Court of non-prescribed countries Powers of court on request for aid Power to request a court's aid Cross-Border Insolvency Act 2008 Scope of the Cross-Border Insolvency Act Scope of the Model Law Applications for recognition Applications for provisional relief Other matters Cooperation with foreign courts and foreign representatives Definitions and cross-references Instruments and class orders History and explanatory materials Texts and literature Part 5.6 — Winding up generally [ss 513–581] Division 1 — Preliminary [ss 513–513AA] [5.513AAA] Application of Part — Annotations to section 513 Key principles [5.513AA] Definitions — Annotations to section 513AA Key principles History and explanatory material Division 1A — When winding up taken to begin [ss 513A–513D] [5.513A] Winding up ordered by the court — Annotations to sections 513A–513D [Current to July 2022] Key principles Scope of Pt 5.6 General rule When company is in administration immediately before winding up Voluntary winding up Section 513C day in relation to an administration Section 513CA day in relation to a restructuring Validity of proceedings in earlier winding up History and explanatory materials Texts and literature Division 2 — Contributories [ss 514–529] [5.514] Where Division applies — Annotations to sections 514–529 [Current to September 2021] Key principles Scope of Pt 5.9 Div 2 When is a person a present or past member Company limited by shares and guarantee Limits to liability of past member Calls on contributories Death or bankruptcy of contributory Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 3 — Liquidators [ss 530–540] [5.530] Appointment of two or more liquidators of a company — Annotations to section 530 [Current to July 2022] Key principles Section 530 History and explanatory materials Texts and literature [5.530AA] Appointment of two or more provisional liquidators of a company — Annotations to section 530AA [Current to July 2022] History and explanatory materials [5.530A] Officers to help liquidator — Annotations to section 530A [Current to July 2022] Key principles Purpose of this section When liquidator may require officer to take action Definitions and cross-references History and explanatory materials Texts and literature [5.530B] Liquidator's right to company's books — Annotations to section 530B [Current to July 2022] Key principles Right to possession Secured creditors Definitions and cross-references History and explanatory materials Texts and literature [5.530C] Warrant to search for, and seize, company's property or books — Annotations to section 530C [Current to July 2022] Key principles When court will issue warrant to search for and seize property and books Terms of warrant Definitions and cross-references Texts and literature [5.531] Books to be kept by liquidator — Annotations to former section 531 [Current to July 2022] [5.532] Disqualification of liquidator — Annotations to section 532 [Current to July 2022] Key principles Persons who may not seek appointment as liquidator When leave will be granted to act as liquidator Appointment of special purpose liquidator Validation of appointment of disqualified liquidator History and explanatory materials Texts and literature [5.533] Reports by liquidator — Annotations to section 533 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.534] Prosecution by liquidator of delinquent officers and members — Annotations to section 534 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.535] When liquidator has qualified privilege — Annotations to section 535 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.536] Supervision of liquidators — Annotations to former section 536 [Current to July 2022] [5.537] Notice of appointment and address of liquidator — Annotations to section 537 [Current to July 2022] History and explanatory materials Instruments and class orders Texts and literature [5.538] Regulations relating to money etc received by liquidator — Annotations to former section 538 [Current to July 2022] [5.539] Liquidator's accounts — Annotations to former section 539 [Current to July 2022] [5.540] Liquidator to remedy defaults — Annotations to former section 540 [Current to July 2022] Division 4 — General [ss 541–547] [5.541] Notification that company is in liquidation — Annotations to section 541 [Current to July 2022] Definitions and cross-references History and explanatory materials [5.542] Books of company — Annotations to former section 542 [Current to July 2022] [5.543] Investment of surplus funds on general account — Annotations to section 543 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.544] Unclaimed money to be paid to ASIC — Annotations to section 544 [Current to July 2022] History and explanatory materials Instruments and class orders Texts and literature [5.545] Expenses of winding up where property insufficient — Annotations to section 545 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.546] Resolutions passed at adjourned meeting of creditors and contributories — Annotations to former section 546 [Current to July 2022] [5.547] Meetings to ascertain wishes of creditors or contributories — Annotations to former section 547 [Current to July 2022] Division 5 — Committees of inspection [former ss 548–552] Division 6 — Proof and ranking of claims [ss 553–564] Subdivision A — Admission to proof of debts and claims [ss 553–553E] [5.553] Debts or claims that are provable in winding up — Annotations to section 553 [Current to July 2022] Key principles Purpose of the section Nature of provable claims Debts incurred in administration Debt incurred in restructuring Liquidator's consideration of claims Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.553A] Member cannot prove debt unless contributions paid — Annotations to section 553A [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.553AA] Selling shareholder cannot prove debt unless documents given — Annotations to section 553AA Key principles [5.553AB] Superannuation contribution debts not admissible to proof — Annotations to section 553AB [Current to July 2022] Key principles History and explanatory materials [5.553B] Insolvent companies — penalties and fines not generally provable — Annotations to section 553B [Current to July 2022] Key principles Treatment of penalties and fines Position in administration History and explanatory materials Texts and literature [5.553C] Insolvent companies — mutual credit and set-off — Annotations to section 553C [Current to July 2022] Key principles When set-off is available When set-off operates Exclusion of right of set-off History and explanatory materials Texts and literature [5.553D] Debts or claims may be proved formally or informally — Annotations to section 553D [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.553E] Application of Bankruptcy Act to winding up of insolvent company — Annotations to section 553E [Current to July 2022] Key principles History and explanatory materials Texts and literature Subdivision B — Computation of debts and claims [ss 554–554C] [5.554] General rule — compute amount as at relevant date — Annotations to section 554 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [5.554A] Determination of value of debts and claims of uncertain value — Annotations to section 554A [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.554B] Discounting of debts payable after relevant date — Annotations to section 554B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.554C] Conversion into Australian currency of foreign currency debts or claims — Annotations to section 554C [Current to July 2022] Key principles History and explanatory materials Texts and literature Subdivision C — Special provisions relating to secured creditors of insolvent companies [ss 554D–554J] [5.554D] Application of subdivision — Annotations to sections 554D–554J [Current to July 2022] Key principles Creditor's surrender of security interest Creditor's realisation of security interest Proof by creditor who does not realise or surrender security interest Redemption of security interest by liquidator History and explanatory materials Texts and literature Subdivision D — Priorities [ss 555–563AAA] [5.555] Debts and claims proved to rank equally except as otherwise provided — Annotations to section 555 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.556] Priority payments — Annotations to section 556 [Current to July 2022] Key principles Priority rules Expenses properly incurred by a relevant authority in preserving, realising or getting in the company's property or carrying on its business (s 556(1)(a)) Costs of winding up application (ss 556(1)(b)–(ba)) Debts for which administrator is indemnified by s 556(1)(c) Costs and expenses of report to liquidator (s 556(1)(da)) Other expenses properly incurred by a relevant authority (s 556(1)(dd)) Deferred expenses (s 556(1)(de)) Wages, superannuation contributions and superannuation guarantee charge (s 556(1)(e)) Amounts due in respect of injury compensation (s 556(1)(f)) Amounts due in respect of leave of absence (s 556(1)(g)) Retrenchment payments (s 556(1)(h)) History and explanatory materials Texts and literature [5.558] Debts due to employees — Annotations to section 558 [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [5.559] Debts of a class to rank equally — Annotations to section 559 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.560] Advances for company to make priority payments in respect of employees — Annotations to section 560 [Current to July 2022] Key principles When section applies Commonwealth General Employee Entitlements and Redundancy Scheme/Fair Entitlements Guarantee Act 2012 History and explanatory materials Instruments and class orders Texts and literature [5.561] Priority of employees' claims over circulating security interest — Annotations to section 561 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.562] Application of proceeds of contracts of insurance — Annotations to section 562 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.562A] Application of proceeds of contracts of reinsurance — Annotations to section 562A [Current to July 2022] Key principles General rules as to contracts of reinsurance Allocation where proceeds are insufficient Court's power to allocate proceeds in different manner History and explanatory materials Texts and literature [5.563] Provisions relating to injury compensation — Annotations to section 563 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.563A] Member's debts to be postponed until other debts and claims satisfied — Annotations to section 563A [Current to July 2022] Key principles Scope of section Definitions and cross-references History and explanatory materials Texts and literature [5.563AAA] Redemption of debentures — Annotations to section 563AAA Key principles Subdivision E — Miscellaneous [ss 563B–564] [5.563B] Interest on debts and claims from relevant date to date of payment — Annotations to section 563B [Current to July 2022] Key principles Entitlement to post-liquidation interest Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.563C] Debt subordination — Annotations to section 563C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.564] Power of court to make orders in favour of certain creditors — Annotations to section 564 [Current to July 2022] Key principles Scope of section Relevant matters Definitions and cross-references History and explanatory materials Texts and literature Division 7 — Effect on certain transactions [ss 565–567] [5.565] Undue preference — Annotations to sections 565–567 [Current to July 2022] Key principles Application of preference provisions in Bankruptcy Act Other provisions Definitions and cross-references History and explanatory materials Texts and literature Division 7A — Disclaimer of onerous property [ss 568–568F] [5.568] Disclaimer by liquidator; application to court by party to contract — Annotations to sections 568–568F [Current to July 2022] Key principles Scope of the sections When the court's leave is required Limits to court's powers under s 568(1B) Effect of disclaimer on guarantor When disclaimer may be set aside Person who has suffered loss by reason of disclaimer may prove in winding up Vesting of disclaimed property Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 7B — Effect on enforcement process against company's property [ss 569–570] [5.569] Executions, attachments etc before winding up — Annotations to sections 569–570 [Current to July 2022] Key principles Purpose of s 569 Limits to sheriff's powers Definitions and cross-references History and explanatory materials Texts and literature Division 8 — Pooling [ss 571–579L] Subdivision A — Pooling determinations [ss 571–579C] [5.571] Pooling determination — Annotations to sections 571–573 [Current to July 2022] Key principles When pooling determination can be made Consequences of pooling determination Variation and lodgment of pooling determinations Definitions and cross-references History and explanatory materials Texts and literature [5.574] Eligible unsecured creditors must approve the making or variation of a pooling determination — Annotations to former sections 574–576 [Current to July 2022] [5.577] Eligible unsecured creditors may decide to approve the determination or variation — Annotations to sections 577–578 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.579] Duties of liquidator — Annotations to section 579 [Current to July 2022] Key principles History and explanatory materials [5.579A] Court may vary or terminate pooling determination — Annotations to section 579A [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.579B] Court may cancel or confirm variation — Annotations to section 579B [Current to July 2022] Key principles History and explanatory materials [5.579C] Court may void or validate pooling determination — Annotations to sections 579C–579D [Current to July 2022] Key principles History and explanatory materials Subdivision B — Pooling orders [ss 579E–579L] [5.579E] Pooling orders — Annotations to sections 579E–579L [Current to July 2022] Key principles When pooling order can be made Consequences of pooling order Other provisions Definitions and cross-references History and explanatory materials Texts and literature Division 9 — Co-operation between Australian and foreign courts in external administration matters [s 581] [5.581] Courts to act in aid of each other — Annotations to section 581 [Current to July 2022] Key principles Court of non-prescribed countries Powers of court on request for aid Power to request a court's aid Cross-Border Insolvency Act 2008 Scope of the Cross-Border Insolvency Act Scope of the Model Law Applications for recognition Applications for provisional relief Other matters Cooperation with foreign courts and foreign representatives Definitions and cross-references Instruments and class orders History and explanatory materials Texts and literature Part 5.7 — Winding up bodies other than companies [ss 583–588] [5.583] Winding up Part 5.7 bodies — Annotations to section 583 [Current to July 2022] Key principles Application of Chapter 5 to winding up of Part 5.7 body Grounds for winding up Relevance of assets and creditors within jurisdiction Definitions and cross-references History and explanatory materials Texts and literature [5.585] Insolvency of Part 5.7 body — Annotations to section 585 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.586] Contributories in winding up of Part 5.7 body — Annotations to section 586 [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.587] Power of court to stay or restrain proceedings — Annotations to section 587 [Current to July 2022] Key principles History and explanatory materials [5.588] Outstanding property of defunct registrable body — Annotations to section 588 [Current to July 2022] Key principles History and explanatory materials Division 2 — Voidable transactions [ss 588FA–588FJ] [5.588FA] Unfair preferences — Annotations to section 588FA [Current to September 2020] Key principles What is an unfair preference Transactions which are not preferences Treatment of running account under s 588FA(3) When an unfair preference is voidable Definitions and cross-references History and explanatory materials Texts and literature [5.588FB] Uncommercial transactions — Annotations to section 588FB [Current to September 2020] Key principles When a transaction is an uncommercial transaction When an uncommercial transaction is voidable Definitions and cross-references History and explanatory materials Texts and literature [5.588FC] Insolvent transactions — Annotations to section 588FC [Current to September 2020] Key principles Scope of the section Definitions and cross-references History and explanatory materials Texts and literature [5.588FD] Unfair loans — Annotations to section 588FD [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.588FDA] Unreasonable director-related transactions — Annotations to section 588FDA [Current to September 2020] Key principles When a transaction is voidable under this section When the relevant test is to be applied Definitions and cross-references History and explanatory materials Texts and literature [5.588FDB] Creditor-defeating dispositions — Annotations to section 588FDB [Current to September 2020] Key principles Nature of a creditor-defeating disposition Definitions and cross-references History and explanatory materials [5.588FE] Voidable transactions — Annotations to section 588FE [Current to September 2020] Key principles Time limits for avoiding unfair preference which is an insolvent transaction Time limits for avoiding uncommercial transaction Obstruction of creditors' rights Creditor-defeating dispositions Definitions and cross-references History and explanatory materials Texts and literature [5.588FF] Court may make orders about voidable transactions — Annotations to section 588FF [Current to September 2020] Key principles When court can make orders Proper plaintiff in recovery action Costs of action Monies recovered under this section cannot be claimed by secured creditor Whether order avoiding transaction can be made on the basis of admissions by the parties Interest on amount recovered Set-off Notice to directors Time limit for application under this section Extension of time for application under this section Order extending time in general terms Effect of lack of failure to give opportunity to be heard to target or potential target of proceedings Matters relevant to whether extension of time should be granted Definitions and cross-references History and explanatory materials Texts and literature [5.588FG] Transaction not voidable as against certain persons — Annotations to section 588FG [Current to September 2020] Key principles Defences under this section Defence under s 588FG(1) Defence under s 588FG(2) Defences in respect of creditor-defeating dispositions History and explanatory materials Texts and literature [5.588FGAA] ASIC orders in respect of creditor-defeating dispositions — Annotations to sections 588FGAA-588FGAE [Current to September 2020] Key principles History and explanatory materials [5.588FGA] Directors to indemnify Commissioner of Taxation if certain payments set aside — Annotations to section 588FGA [Current to September 2020] Key principles Directors may be required to indemnify the Commissioner of Taxation Scope of indemnity Nature of application History and Explanatory Materials Texts and literature [5.588FGB] Defences in proceedings under section 588FGA — Annotations to section 588FGB [Current to September 2020] Key principles Texts and literature [5.588FH] Liquidator may recover from related entity benefit resulting from insolvent transaction — Annotations to section 588FH [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.588FI] Creditors who gives up benefit of unfair preference may prove for preferred debt — Annotations to section 588FI [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.588FJ] Circulating security interest created within 6 months before relation-back day — Annotations to section 588FJ [Current to September 2020] Key principles Charge void against liquidator Section applies only to winding up in insolvency Liquidator's power to recover where debt discharged Definitions and cross-references History and explanatory materials Texts and literature Division 2A — Vesting of PPSA security interests if not continuously perfected [ss 588FK–588FO] [5.588FK] Interpretation and application — Annotations to section 588FK Key principles History and explanatory materials [5.588FL] Vesting of PPSA security interests if collateral not registered within time — Annotations to section 588FL Key principles When the section applies Vesting of security interest in the company Exception for property acquired for new value without knowledge History and explanatory materials Texts and literature [5.588FM] Extension of time for registration — Annotations to section 588FM Key principles Scope of section Matters relevant to exercise of court's discretion Conditions on such an order Joinder of affected parties History and explanatory materials Texts and literature [5.588FN] PPSA security interests unaffected by s 588FL — Annotations to section 588FN Key principles History and explanatory materials [5.588FO] Certain lessors, bailors and consignors entitled to damages — Annotations to section 588FO Key principles History and explanatory materials Texts and literature Division 2B — Security interests in favour of company officers etc [s 588FP] [5.588FP] Security interests in favour of an officer of a company etc void — Annotations to section 588FP Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 3 — Director's duty to prevent insolvent trading and creditor-defeating dispositions [ss 588G–588HA] [5.588G] Director's duty to prevent insolvent trading by company — Annotations to section 588G [Current to September 2020] Key principles Elements of the section Contingent and other liabilities Incurring obligation to pay tax Time at which a debt is incurred Whether a company is insolvent What resources may be taken into account in determining solvency Relevance of creditors' terms of payment Whether the director had reasonable grounds for suspecting insolvency Directors' duties in an insolvency context Definitions and cross-references History and explanatory materials Texts and literature [5.588GAA] Director's duty to prevent creditor-defeating dispositions — Annotations to section 588GAA-588GAB [Current to September 2020] Key principles History and explanatory materials [5.588GA] Safe harbour — taking course of action reasonably likely to lead to a better outcome for the company — Annotations to section 588GA–588GAAA [Current to September 2020] Key principles Temporary relief during Covid-19 pandemic Definitions and cross-references History and explanatory materials Texts and literature [5.588GB] Information or books not admissible to support the safe harbour if failure to permit inspection etc — Annotations to section 588GB [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials [5.588H] Defences about reasonable grounds, illness or reasonable steps — Annotations to section 588H [Current to September 2020] Key principles Defence for reasonable grounds to expect solvency Defence where subordinate was monitoring the company's solvency Defence if director does not take part in management for illness or other good reason Defence if director took all reasonable steps to prevent the company incurring the debt History and explanatory materials Texts and literature [5.588HA] Independent review relating to safe harbour — Annotations to section 588HA [Current to September 2020] Key principles Division 4 — Director liable to compensate company [ss 588J–588U] [5.588J] Director liable to compensate company — Annotations to sections 588J–588U [Current to September 2020] Key principles Court may order compensation in civil penalty proceedings Claim by liquidator Set-off Claim by creditor Definitions and cross-references History and explanatory materials Texts and literature Division 5 — Liability of holding company for insolvent trading by subsidiary [ss 588V–588X] [5.588V] Liability of holding company for insolvent trading by subsidiary — Annotations to sections 588V–588X [Current to September 2020] Key principles When holding company is liable Recovery of compensation for loss resulting from insolvent trading Extension of safe harbour under s 588GA to liability of holding company Temporary relief during Covid-19 pandemic Defences History and explanatory materials Texts and literature Division 6 — Application of compensation under Division 4 or 5 [s 588Y] [5.588Y] Application of amount paid as compensation — Annotations to section 588Y [Current to September 2020] History and explanatory materials Texts and literature Division 7 — Person managing a corporation while insolvent may become liable for corporation's debts [s 588Z] [5.588Z] Court may make order imposing liability — Annotations to section 588Z [Current to September 2020] Key principles Definitions and cross-references History and explanatory material Texts and literature Division 8 — Employee entitlements contribution orders [ss 588ZA–588ZB] [5.588ZA] Employee entitlements contribution orders — Annotations to sections 588ZA–588ZB [Current to September 2020] Key principles Nature of an employee entitlements contribution order Who can apply for such an order Definitions and cross-references History and explanatory material Part 5.7B — Recovering property or compensation for the benefit of creditors of insolvent company [ss 588C–588Z] Division 1 — Preliminary [ss 588C–588F] [5.588C] Definitions — Annotations to section 588C Key principles History and explanatory material [5.588D] Secured debt may become unsecured — Annotations to section 588D [Current to July 2022] Key principles Definitions and cross-references [5.588E] Presumptions to be made in recovery proceedings — Annotations to section 588E [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5.588F] Certain taxation liabilities taken to be debts — Annotations to section 588F Key principles Division 2 — Voidable transactions [ss 588FA–588FJ] [5.588FA] Unfair preferences — Annotations to section 588FA [Current to July 2022] Key principles What is an unfair preference Transactions which are not preferences Treatment of running account under s 588FA(3) When an unfair preference is voidable Definitions and cross-references History and explanatory materials Texts and literature [5.588FB] Uncommercial transactions — Annotations to section 588FB [Current to July 2022] Key principles When a transaction is an uncommercial transaction When an uncommercial transaction is voidable Definitions and cross-references History and explanatory materials Texts and literature [5.588FC] Insolvent transactions — Annotations to section 588FC [Current to July 2022] Key principles Scope of the section Definitions and cross-references History and explanatory materials Texts and literature [5.588FD] Unfair loans — Annotations to section 588FD [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.588FDA] Unreasonable director-related transactions — Annotations to section 588FDA [Current to July 2022] Key principles When a transaction is voidable under this section When the relevant test is to be applied Definitions and cross-references History and explanatory materials Texts and literature [5.588FDB] Creditor-defeating dispositions — Annotations to section 588FDB [Current to July 2022] Key principles Nature of a creditor-defeating disposition Definitions and cross-references History and explanatory materials [5.588FE] Voidable transactions — Annotations to section 588FE [Current to July 2022] Key principles Time limits for avoiding unfair preference which is an insolvent transaction Time limits for avoiding uncommercial transaction Obstruction of creditors' rights Creditor-defeating dispositions Definitions and cross-references History and explanatory materials Texts and literature [5.588FF] Court may make orders about voidable transactions — Annotations to section 588FF [Current to July 2022] Key principles When court can make orders Proper plaintiff in recovery action Costs of action Monies recovered under this section cannot be claimed by secured creditor Whether order avoiding transaction can be made on the basis of admissions by the parties Interest on amount recovered Set-off Notice to directors Time limit for application under this section Extension of time for application under this section Order extending time in general terms Effect of lack of failure to give opportunity to be heard to target or potential target of proceedings Matters relevant to whether extension of time should be granted Definitions and cross-references History and explanatory materials Texts and literature [5.588FG] Transaction not voidable as against certain persons — Annotations to section 588FG [Current to July 2022] Key principles Defences under this section Defence under s 588FG(1) Defence under s 588FG(2) Defences in respect of creditor-defeating dispositions History and explanatory materials Texts and literature [5.588FGAA] ASIC orders in respect of creditor-defeating dispositions — Annotations to sections 588FGAA-588FGAE [Current to July 2022] Key principles History and explanatory materials [5.588FGA] Directors to indemnify Commissioner of Taxation if certain payments set aside — Annotations to section 588FGA [Current to July 2022] Key principles Directors may be required to indemnify the Commissioner of Taxation Scope of indemnity Nature of application History and Explanatory Materials Texts and literature [5.588FGB] Defences in proceedings under section 588FGA — Annotations to section 588FGB [Current to July 2022] Key principles Texts and literature [5.588FH] Liquidator may recover from related entity benefit resulting from insolvent transaction — Annotations to section 588FH [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.588FI] Creditors who gives up benefit of unfair preference may prove for preferred debt — Annotations to section 588FI [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.588FJ] Circulating security interest created within 6 months before relation-back day — Annotations to section 588FJ [Current to July 2022] Key principles Charge void against liquidator Section applies only to winding up in insolvency Liquidator's power to recover where debt discharged Definitions and cross-references History and explanatory materials Texts and literature Division 2A — Vesting of PPSA security interests if not continuously perfected [ss 588FK–588FO] [5.588FK] Interpretation and application — Annotations to section 588FK Key principles Definitions and cross-references History and explanatory materials [5.588FL] Vesting of PPSA security interests if collateral not registered within time — Annotations to section 588FL Key principles When the section applies Vesting of security interest in the company Exception for property acquired for new value without knowledge History and explanatory materials Texts and literature [5.588FM] Extension of time for registration — Annotations to section 588FM Key principles Scope of section Matters relevant to exercise of court's discretion Conditions on such an order Joinder of affected parties History and explanatory materials Texts and literature [5.588FN] PPSA security interests unaffected by s 588FL — Annotations to section 588FN Key principles History and explanatory materials [5.588FO] Certain lessors, bailors and consignors entitled to damages — Annotations to section 588FO Key principles History and explanatory materials Texts and literature Division 2B — Security interests in favour of company officers etc [s 588FP] [5.588FP] Security interests in favour of an officer of a company etc void — Annotations to section 588FP Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 3 — Director's duty to prevent insolvent trading and creditor-defeating dispositions [ss 588G–588HA] [5.588G] Director's duty to prevent insolvent trading by company — Annotations to section 588G [Current to July 2022] Key principles Elements of the section Contingent and other liabilities Incurring obligation to pay tax Time at which a debt is incurred Whether a company is insolvent What resources may be taken into account in determining solvency Relevance of creditors' terms of payment Whether the director had reasonable grounds for suspecting insolvency Directors' duties in an insolvency context Definitions and cross-references History and explanatory materials Texts and literature [5.588GAA] Director's duty to prevent creditor-defeating dispositions — Annotations to section 588GAA–588GAC [Current to July 2022] Key principles History and explanatory materials [5.588GA] Safe harbour — taking course of action reasonably likely to lead to a better outcome for the company — Annotations to section 588GA–588GAAA [Current to July 2022] Key principles Temporary relief during Covid-19 pandemic Definitions and cross-references History and explanatory materials Texts and literature [5.588GAAB] Safe harbour — companies under restructuring and companies eligible for temporary relief under Pt 5.3B Div 7 — Annotations to section 588GAAB–588GAAC [Current to July 2022] Key principles History and explanatory materials [5.588GB] Information or books not admissible to support the safe harbour if failure to permit inspection etc — Annotations to section 588GB [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [5.588H] Defences about reasonable grounds, illness or reasonable steps — Annotations to section 588H [Current to July 2022] Key principles Defence for reasonable grounds to expect solvency Defence where subordinate was monitoring the company's solvency Defence if director does not take part in management for illness or other good reason Defence if director took all reasonable steps to prevent the company incurring the debt History and explanatory materials Texts and literature [5.588HA] Independent review relating to safe harbour — Annotations to section 588HA [Current to July 2022] Key principles Division 4 — Director liable to compensate company [ss 588J–588U] [5.588J] Director liable to compensate company — Annotations to sections 588J–588U [Current to July 2022] Key principles Court may order compensation in civil penalty proceedings Claim by liquidator Set-off Claim by creditor Definitions and cross-references History and explanatory materials Texts and literature Division 5 — Liability of holding company for insolvent trading by subsidiary [ss 588V–588X] [5.588V] Liability of holding company for insolvent trading by subsidiary — Annotations to sections 588V–588X [Current to July 2022] Key principles When holding company is liable Recovery of compensation for loss resulting from insolvent trading Extension of safe harbour under s 588GA to liability of holding company Temporary relief during Covid-19 pandemic Defences Definitions and cross-references History and explanatory materials Texts and literature Division 6 — Application of compensation under Division 4 or 5 [s 588Y] [5.588Y] Application of amount paid as compensation — Annotations to section 588Y [Current to July 2022] Definitions and cross-references History and explanatory materials Texts and literature Division 7 — Person managing a corporation while insolvent may become liable for corporation's debts [s 588Z] [5.588Z] Court may make order imposing liability — Annotations to section 588Z [Current to July 2022] Key principles Definitions and cross-references History and explanatory material Texts and literature Division 8 — Employee entitlements contribution orders [ss 588ZA–588ZB] [5.588ZA] Employee entitlements contribution orders — Annotations to sections 588ZA–588ZB [Current to July 2022] Key principles Nature of an employee entitlements contribution order Who can apply for such an order Definitions and cross-references History and explanatory material Part 5.8 — Offences [ss 589–596] [5.589] Offences — Annotations to sections 589–596 [Current to July 2022] Key principles Offences under s 590 Scope of liability under s 592 Fraudulent trading Claim under s 593 Preservation of right to indemnity, subrogation or contribution Definitions and cross-references History and explanatory materials Texts and literature Part 5.8A — Employee entitlements [ss 596AA–596AI] [5.596AA] Employee entitlements — Annotations to sections 596AA–596AI [Current to July 2022] Key principles Prohibition on relevant agreements or transactions that avoid employee entitlements Offences Civil penalty provisions Recovery of loss Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Order against a person in relation to a corporation [s 598] [5.598] Order against a person concerned with corporation — Annotations to section 598 [Current to September 2020] Key principles Court may make orders against person guilty of misconduct Claim for contribution History and explanatory materials Definitions and cross-references Instruments and class orders Texts and literature Division 3 — Provisions applying to various kinds of external administration [ss 599–600K] [5.599] Appeals from decisions of receivers etc — Annotations to section 599 Key principles Standing to bring application History and explanatory materials Texts and literature [5.600AA] Duty of receiver, administrator or liquidator — parental leave pay — Annotations to s 600AA Key principles History and explanatory materials [5.600A] Powers of court where outcome of voting at creditors' meeting determined by related entity — Annotations to former section 600A [Current to September 2020] [5.600B] Review by court of resolution of creditors passed or lost on casting vote of person presiding at meeting — Annotations to former sections 600B–600C [Current to September 2020] [5.600D] Interim orders and effect of orders — Annotations to former sections 600D–600E [5.600F] Limitation on right of suppliers of essential services to insist on payment as condition of supply — Annotations to section 600F [Current to September 2020] History and explanatory materials Texts and literature [5.600G] Electronic methods of giving or sending certain notices — Annotations to section 600G [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.600H] Rights if claim against company postponed — Annotations to section 600H [Current to September 2020] Key principles Definitions and cross-references History and explanatory materials [5.600J] Acts of external administrator valid etc — Annotations to section 600J [Current to September 2020] Key principles History and explanatory materials Texts and literature [5.600K] Insolvency Practice Schedule (Corporations) — Annotations to section 600K [Current to September 2020] Part 5.9 — Miscellaneous [ss 596A–600K] Division 1 — Examining a person about a corporation [ss 596A–597B] [5.596A] Mandatory examinations — Annotations to section 596A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.596B] Discretionary examinations — Annotations to section 596B [Current to July 2022] Key principles Purpose of s 596B Persons who may be examined under this section Authorisation to apply for examination summons Factors relevant to whether an examination order should be made Proper purposes of an examination Setting aside examination for abuse of process or nondisclosure Setting aside examination for nondisclosure Notification of matters to be dealt with at examination Information as to insurance arrangements Extraterritorial application Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5.596C] Affidavit in support of application under s 596B — Annotations to section 596C [Current to July 2022] Key principles Requirement for affidavit Inspection of affidavit History and explanatory materials Texts and literature [5.596D] Content of summons — Annotations to section 596D [Current to July 2022] Key principles History and explanatory materials [5.596E] Notice of examination — Annotations to section 596E [Current to July 2022] Key principles [5.596F] Court may give directions about examination — Annotations to section 596F [Current to July 2022] Key principles Texts and literature [5.597] Conduct of examination — Annotations to section 597 [Current to July 2022] Key principles When examination will be held in private Production of documents Record of examination Legal professional privilege and "without prejudice" privilege Privilege against self-incrimination Payment of expenses of examination History and explanatory materials Instruments and class orders Texts and literature [5.597A] When court is to require affidavit about corporation's examinable affairs — Annotations to section 597A [Current to July 2022] Key principles History and explanatory material Texts and literature [5.597B] Costs of unnecessary examination or affidavit — Annotations to section 597B Key principles Division 2 — Order against a person in relation to a corporation [s 598] [5.598] Order against a person concerned with corporation — Annotations to section 598 [Current to July 2022] Key principles Court may make orders against person guilty of misconduct Claim for contribution History and explanatory materials Definitions and cross-references Instruments and class orders Texts and literature Division 3 — Provisions applying to various kinds of external administration [ss 599–600K] [5.599] Appeals from decisions of receivers etc — Annotations to section 599 Key principles Standing to bring application History and explanatory materials Texts and literature [5.600AA] Duty of receiver, administrator or liquidator — parental leave pay — Annotations to s 600AA Key principles History and explanatory materials [5.600A] Powers of court where outcome of voting at creditors' meeting determined by related entity — Annotations to former section 600A [Current to September 2021] [5.600B] Review by court of resolution of creditors passed or lost on casting vote of person presiding at meeting — Annotations to former sections 600B–600C [Current to July 2022] [5.600D] Interim orders and effect of orders — Annotations to former sections 600D–600E [5.600F] Limitation on right of suppliers of essential services to insist on payment as condition of supply — Annotations to section 600F [Current to July 2022] History and explanatory materials Texts and literature [5.600G] Electronic methods of giving or sending certain notices — Annotations to section 600G [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.600H] Rights if claim against company postponed — Annotations to section 600H [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [5.600J] Acts of external administrator valid etc — Annotations to section 600J [Current to July 2022] Key principles History and explanatory materials Texts and literature [5.600K] Insolvency Practice Schedule (Corporations) — Annotations to section 600K [Current to July 2022] Chapter 5A — Deregistration, and Transfer of Registration, of Companies [ss 601–601AL] Part 5A.1 — Deregistration [ss 601–601AH] [5A.601] Definition of "Property" — Annotations to section 601 [Current to July 2020] Key principles History and explanatory material [5A.601AA] Deregistration — voluntary — Annotations to section 601AA [Current to July 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature [5A.601AB] Deregistration — ASIC initiated — Annotations to section 601AB [Current to July 2020] Key principles History and explanatory materials Texts and literature [5A.601AC] Deregistration — following amalgamation or winding up — Annotations to section 601AC [Current to July 2020] Key principles History and explanatory materials Texts and literature [5A.601AD] Effect of deregistration — Annotations to section 601AD [Current to July 2020] Key principles Effect on company's property Effect on proceedings Definitions and cross-references History and explanatory materials Texts and literature [5A.601AE] What the Commonwealth and ASIC does with the property — Annotations to section 601AE [Current to July 2020] Key principles Property held on trust Property not held on trust Obligations attaching to property Interaction of predecessors of ss 601AD and 601AE with former section 744 of the Corporations Law History and explanatory materials Texts and literature [5A.601AF] ASIC's power to fulfil outstanding obligations of deregistered company — Annotations to section 601AF [Current to July 2020] Key principles Texts and literature [5A.601AG] Claims against insurers of deregistered companies — Annotations to section 601AG [Current to July 2020] Key principles Purpose of the section Requirement that applicant have cause of action prior to deregistration Defences available to insurer Section should be used where available History and explanatory materials Texts and literature [5A.601AH] Reinstatement of deregistered company — Annotations to section 601AH [Current to July 2020] Key principles ASIC may reinstate registration Court may reinstate registration Matters relevant to reinstatement of registration Reinstatement in respect of legal proceedings Company cannot be reinstated for limited purpose Reinstatement of company's registration cancelled under previous legislation Powers of the court on ordering reinstatement Effect of reinstatement Reinstatement of company in liquidation Notice requirements and service of application Winding up following reinstatement History and explanatory materials Texts and literature Part 5A.2 — Transfer of registration [ss 601AI–601AL] [5A.601AI] Transferring registration — Annotations to section 601AF [Current to January 2020] Key principles Texts and literature [5A.601AJ] Applying to transfer registration — Annotations to section 601AJ [Current to January 2020] Key principles [5A.601AK] ASIC makes transfer of registration declaration — Annotations to section 601AK [Current to January 2020] Key principles [5A.601AL] ASIC to deregister the company — Annotations to section 601AL [Current to January 2020] Key principles Chapter 5B — Bodies Corporate Registered as Companies, and Registrable Bodies [ss 601BA–601DJ] Part 5B.1 — Registering a body corporate as a company [ss 601BA–601BS] Division 1 — Registration [ss 601BA–601BL] [5B.601BA-601BL] Bodies corporate may be registered as certain types of companies — Annotations to sections 601BA–601BL [Current to February 2020] Key principles Application for registration Content of application History and explanatory materials Instruments and class orders Texts and literature Division 2 — Operation of this Act [ss 601BM–601BS] [5B.601BM-601BS] Bodies corporate may be registered as certain types of companies — Annotations to sections 601BM–601BS [Current to February 2020] Key principles Part 5B.2 — Registrable bodies [ss 601C–601CZD] Division 1A — Preliminary [s 601C] [5B.601C] Definitions — Annotations to section 601C [Current to February 2020] Key principles History and explanatory material Division 1 — Registrable Australian bodies [ss 601CA–601CC] [5B.601CA-601CC] When a registrable Australian body may carry on business in this jurisdiction and outside its place of origin — Annotations to sections 601CA–601CC [Current to February 2020] Key principles Requirement for registration Effect of contravention Ceasing to carry on business interstate Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 2 — Foreign companies [ss 601CD–601CS] [5B.601CD-601CS] When a foreign company may carry on business in this jurisdiction — Annotations to sections 601CD–601CS [Current to February 2020] Key principles When a foreign company can carry on business in the jurisdiction Application for registration and appointment of agent Lodgment of financial statements Cessation of business of foreign company Definitions and cross-references Instruments and class orders Texts and literature Division 3 — Bodies registered under this part [ss 601CTA–601CY] [5B.601CTA-601CY] Registered office, Service etc — Annotations to sections 601CT–601CY [Current to February 2020] Key principles Instruments and class orders Texts and literature Division 4 — Register of debenture holders for non-companies [ss 601CZA–601CZD] [5B.601CZA] Certain documents are debentures — Annotations to sections 601CZA–601CZD [Current to February 2020] Key principles Texts and literature Part 5B.3 — Names of registrable Australian bodies and foreign companies [ss 601DA–601DJ] [5B.601DA-601DJ] Names of registrable Australian bodies and foreign companies — Annotations to sections 601DA–601DJ [Current to April 2018] Key principles Instruments and class orders Chapter 5C — Managed Investment Schemes [ss 601EA–601QB] Part 5C.1 — Registration of managed investment schemes [ss 601EA–601EE] [5C.601EAA] Concept of managed investment scheme [Current to July 2020] Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5C.601EA] Applying for registration — Annotations to section 601EA [Current to July 2020] History and explanatory materials Instruments and class orders [5C.601EB] Registration of managed investment scheme — Annotations to section 601EB [Current to July 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature [5C.601ED] When a managed investment scheme must be registered — Annotations to section 601ED [Current to July 2020] Key principles Scheme with more than 20 members Scheme promoted by person in business of promoting such schemes Closely related schemes When scheme does not need to be registered Prohibition on operating unregistered scheme Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5C.601EE] Unregistered schemes may be wound up — Annotations to section 601EE [Current to July 2020] Key principles Order to wind up a scheme Orders which may be made by court Who may wind up a scheme Instruments and class orders Texts and literature Part 5C.2 — The responsible entity [ss 601FA–601FT] [5C.601FA] Responsible entity to be public company and hold Australian financial services licence — Annotations to section 601FA [Current to July 2020] Key principles Definitions and cross-references Instruments and class orders Texts and literature [5C.601FB] Responsible entity to operate scheme — Annotations to section 601FB [Current to July 2020] Key principles Responsible entity to operate scheme Power to appoint agent History and explanatory materials Instruments and class orders Texts and literature [5C.601FC] Duties of responsible entity — Annotations to section 601FC [Current to July 2020] Key principles Scope of section Duty to act honestly and duty of care Conflict of interest and duty to act impartially Misuse of information Obligations as to compliance plan Identification of scheme property Breach reporting Compliance with constitution Duties applicable to trustee Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5C.601FD] Duties of officers of responsible entity — Annotations to section 601FD [Current to July 2020] Key principles History and explanatory materials Texts and literature [5C.601FE] Duties of employees of responsible entity — Annotations to section 601FE [Current to July 2020] Key principles History and explanatory materials Texts and literature [5C.601FF] Surveillance checks by ASIC — Annotations to section 601FF [Current to July 2020] Definitions and cross-references History and explanatory materials Instruments and class orders [5C.601FG] Acquisition of interest in scheme by responsible entity — Annotations to section 601FG [Current to July 2020] Key principles History and explanatory materials Instruments and class orders [5C.601FH] Liquidator etc of responsible entity entitled to exercise indemnity rights — Annotations to section 601FH [Current to July 2020] Key principles History and explanatory materials [5C.601FJ] Changes only take effect when ASIC alters record of registration — Annotations to section 601FJ [Current to July 2020] Key principles [5C.601FK] Requirements of s 601FA must be met — Annotations to section 601FK [Current to July 2020] Key principles [5C.601FL] Retirement of responsible entity — Annotations to section 601FL [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5C.601FM] Removal of responsible entity by members — Annotations to section 601FM [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [5C.601FN] Appointment of temporary responsible entity by the court — Annotations to sections 601FN–601FQ [Current to July 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature [5C.601FR] Former responsible entity to hand over books and provide reasonable assistance — Annotations to section 601FR [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5C.601FS] Rights, obligations and liabilities of former responsible entity — Annotations to section 601FS [Current to July 2020] Key principles History and explanatory materials Texts and literature [5C.601FT] Effect of change of responsible entity on documents etc to which former responsible entity is party — Annotations to section 601FT [Current to July 2020] Key principles History and explanatory materials Part 5C.3 — The constitution [ss 601GA–601GC] [5C.601GA] Contents of the constitution — Annotations to sections 601GA–601GC [Current to July 2020] Key principles Content of constitution Right of indemnity Right of withdrawal Amendment by special resolution Amendment by responsible entity Lodgment of modification Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 5C.4 — The compliance plan [ss 601HA–601HI] [5C.601HA] Contents of the compliance plan — Annotations to sections 601HA–601HI [Current to July 2020] Key principles Contents of compliance plan Audit of compliance plan Auditor's reporting obligations Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 5C.5 — The compliance committee [ss 601JA–601JJ] [5C.601JA] The compliance committee — Annotations to sections 601JA–601JJ [Current to July 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature Part 5C.6 — Members' rights to withdraw from a scheme [ss 601KA–601KE] [5C.601KA] Members' rights to withdraw from a scheme — Annotations to sections 601KA–601KE [Current to July 2020] Key principles Definitions and cross-references Instruments and class orders History and explanatory materials Texts and literature Part 5C.7 — Related party transactions [ss 601LA–601LE] [5C.601LA] Related party transactions — Annotations to sections 601LA–601LE [Current to July 2020] Key principles Application of Ch 2E to managed investment schemes When financial benefit can be given Definitions and cross-references History and explanatory materials Texts and literature Part 5C.8 — Effect of contraventions [ss 601MA–601MB] [5C.601MA] Civil liability of responsible entity to members — Annotations to section 601MA [Current to July 2020] Key principles Definitions and cross-references History and explanatory materials Texts and literature [5C.601MB] Voidable contracts where subscription offers and invitations contravene the Act — Annotations to section 601MB [Current to July 2020] Key principles Investor may avoid contract to acquire interest in unregistered scheme Court may set aside notice avoiding contract General law illegality Definitions and cross-references History and explanatory materials Texts and literature Part 5C.9 — Winding up [ss 601NA–601NG] [5C.601NA] Winding up required by scheme's constitution — Annotations to sections 601NA–601NG [Current to July 2020] Key principles Nature of winding up of a registered scheme When a scheme can be wound up Winding up ordered by the court Responsible entity to wind up scheme Other orders Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 5C.10 — Deregistration [ss 601PA–601PC] [5C.601PA] Deregistration — voluntary — Annotations to section 601PA [Current to July 2020] Key principles History and explanatory materials Instruments and class orders Texts and literature [5C.601PB] Deregistration by ASIC — Annotations to section 601PB [Current to July 2020] Key principles History and explanatory materials Texts and literature [5C.601PC] Reinstatement — Annotations to section 601PC [Current to July 2020] Key principles History and explanatory materials Texts and literature Part 5C.11 — Exemptions and modifications [ss 601QA–601QB] [5C.601QA] ASIC's power to make exemption and modification orders — Annotations to sections 601QA–601QB [Current to July 2020] Instruments and class orders Texts and literature Chapter 5D — Licensed Trustee Companies [ss 601RAA–601YAB] Part 5D.1 — Preliminary [ss 601RAA–601RAE] [5D.601RAA] Preliminary — Annotations to sections 601RAA–601RAE [Current to June 2021] Key principles; definitions and cross-references History and explanatory materials Transitional provisions Texts and literature Part 5D.2 — Powers etc of licensed trustee companies [ss 601SAA–601SCD] [5D.601SAA] Powers etc of licensed trustee companies — Annotations to sections 601SAA–601SCD [Current to June 2021] Key principles Annual information return Preparation and auditing of financial accounts Common funds Definitions and cross-references History and explanatory materials Texts and literature Part 5D.3 — Regulation of fees charged by licensed trustee companies [ss 601TAA–601TEB] [5D.601TAA] Regulation of fees charged by licensed trustee companies — Annotations to sections 601TAA–601TEB [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Part 5D.4 — Duties of officers and employees of licensed trustee companies [ss 601UAA–601UAB] [5D.601UAA] Duties of officers and employees of licensed trustee companies — Annotations to sections 601UAA–601UAB [Current to June 2021] Key principles History and explanatory materials Part 5D.5 — Limit on control of licensed trustee companies [ss 601VAA–601VCC] [5D.601VAA] Limit on control of licensed trustee companies — Annotations to sections 601VAA–601VCC [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Part 5D.6 — ASIC-approved transfers of estate assets and liabilities [ss 601WAA–601WDA] [5D.601WAA] ASIC-approved transfers of estate assets and liabilities — Annotations to sections 601WAA–601WDA [Current to June 2021] Key principles History and explanatory materials Part 5D.7 — Contraventions and holding out [ss 601XAA–601XAB] [5D.601XAA] Contraventions and holding out — Annotations to sections 601XAA–601XAB [Current to June 2021] Key principles History and explanatory materials Part 5D.8 — Exemptions and modifications [ss 601YAA–601YAB] [5D.601YAA] Exemptions and modifications — annotations to sections 601YAA–601YAB [Current to June 2021] Key principles History and explanatory materials Chapter 6 — Takeovers [ss 602–659C] [6.602] Purposes of Chapter — Annotations to section 602 Key principles History and explanatory materials Texts and literature [6.602A] Substantial interest concept — Annotations to section 602A Key principles History and explanatory materials [6.603] Chapter extends to some listed bodies that are not companies and listed managed investment schemes — Annotations to sections 603–604 Key principles History and explanatory materials Texts and literature [6.605] Classes of securities — Annotations to section 605 Key principles Part 6.1 — Prohibited acquisitions of relevant interests in voting shares [ss 606–610] [6.606] Prohibition on certain acquisitions of relevant interests in voting shares — Annotations to section 606 Key principles Acquisition of relevant interest in voting shares through transaction entered into by or on behalf of persons acquiring relevant interest Acquisition of legal or equitable interest giving rise to relevant interest for someone else Other aspects of this section Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.607] Effect on transactions — Annotations to section 607 Key principles Texts and literature [6.608] Relevant interests in securities — Annotations to section 608 Key principles Matters giving rise to relevant interest Extensions to relevant interests held through bodies corporate Extension to control in anticipation of performance of agreements etc Body corporate may have relevant interest in own securities Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.609] Situations not giving rise to relevant interests — Annotations to section 609 Key principles Exception for lenders and security trustees Exception for bare trustees and dealer in securities Buy-backs, proxies and corporate representatives Market-traded options and derivatives Conditional agreements Pre-emptive rights Position of director of body corporate which holds securities Clearing facilities and exclusion by regulation Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.610] Voting power in a body or managed investment scheme — Annotations to section 610 Key principles Determination of voting power generally Application of s 606 to transactions between associates Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 6.2 — Exceptions to the prohibition [ss 611–615] [6.611] Exceptions to the prohibition — Annotations to section 611 Key principles Item 1 Acquisitions resulting from on-market bid Item 2 On-market purchases during bid period Item 3 Acquisitions during bid period by exercise of rights attached to convertible securities Item 4 Shares as consideration for takeover offer Item 6 Acquisition by power vested in lender Item 7 Acquisitions approved in general meeting Item 8 Target newly formed Item 9 Acquisition of 3% interest within 6 months Item 10 Rights issues Item 11 Dividend reinvestment and bonus share plans Items 12–13 Initial public offerings and underwritings Item 14 Downstream acquisitions Items 15–16 Acquisitions by will, operation of law and auctions of forfeited shares Items 17–19 Acquisitions under schemes of arrangement, reconstructions and buy-backs Item 20 Exemption by regulation Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.612] Effect of non-compliance with takeover rules for exceptions 1 to 4 — Annotations to section 612 Key principles [6.613] Bidder not to exercise voting rights if failure to send bids for off-market acquisition — exception 2 or 3 — Annotations to section 613 Key principles [6.615] Treatment of foreign holders under equal access issue — exception 10 — Annotations to section 615 Key principles Instruments and class orders Part 6.3 — The different types of takeover bid [s 616] [6.616] Off-market and market bids — Annotations to section 616 Key principles Definitions and cross-references Texts and literature Part 6.4 — Formulating the takeover offer [ss 617–630] Division 1 — General [ss 617–620] [6.617] Securities covered by bid — Annotations to section 617 Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.618] Offers must be for all or a proportion of securities in the bid class — Annotations to section 618 Key principles History and explanatory materials Instruments and class orders Texts and literature [6.619] General terms of the offer — Annotations to section 619 Key principles History and explanatory materials Instruments and class orders Texts and literature [6.620] Off-market bid (offer formalities) — Annotations to section 620 Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 2 — Consideration for the offer [ss 621–623] [6.621] Consideration offered — Annotations to section 621 Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.622] Escalation agreements — Annotations to section 622 Key principles Definitions and cross-references History and explanatory materials Texts and literature [6.623] Collateral benefits not allowed — Annotations to section 623 Key principles Scope of the section Nature of prohibited benefit Exceptions to the prohibition Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 3 — The offer period [s 624] [6.624] Offer period — Annotations to section 624 Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 4 — Conditional offers [ss 625–630] [6.625] Conditional offers — general — Annotations to section 625 Key principles History and explanatory materials Instruments and class orders Texts and literature [6.626] Maximum acceptance conditions in off-market bids — Annotations to section 626 Key principles History and explanatory materials Texts and literature [6.627] Other prohibited conditions in off-market bids — Annotations to sections 627–628 Key principles History and explanatory materials Texts and literature [6.629] Conditions turning on bidder's or associate's opinion not allowed in off-market bids — Annotations to section 629 Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.630] Defeating conditions — Annotations to section 630 Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 6.5 — The takeover procedure [ss 631–648H] Division 1 — The overall procedure [ss 631–635] [6.631] Proposing or announcing a bid — Annotations to section 631 Key principles Obligation to proceed with takeover bid What is a public proposal? When are the terms of a bid substantially less favourable than the public proposal? Proposals if takeover bid not intended Definitions and cross-references History and explanatory materials Texts and literature [6.632] Steps in an off-market bid — Annotations to sections 632–633 Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.634] Steps in a market bid — Annotations to sections 634–635 Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 2 — The bidder's statement [ss 636–637] [6.636] Content and approval of bidder's statement — Annotations to sections 636–637 Key principles Information as to bidder's intentions Disclosure of funding of cash consideration Information where bidder offers securities or managed investment products as consideration Disclosure of consideration paid by bidder to acquire securities Disclosure of collateral benefits Disclosure as to off-market bids Disclosure of other material information Consent as to third party statements Approval of bidder' s statement Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 3 — The target's response [ss 638–642] [6.638] Target's statement content and formalities — Annotations to sections 638–639 Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.640] Expert's report to accompany target's statement if bidder connected with target — Annotations to section 640 Key principles Definitions and cross-references History and explanatory materials Texts and literature [6.641] Target must inform bidder about security holdings — Annotations to section 641 Key principles Definitions and cross-references History and explanatory materials Texts and literature [6.642] Expenses of directors of target companies — Annotations to section 642 Key principles History and explanatory materials Texts and literature Division 4 — Updating and correcting the bidder's statement and target's statement [ss 643–647] [6.643] Supplementary bidder's statement — Annotations to section 643 Key principles Definitions and cross-references History and explanatory materials Texts and literature [6.644] Supplementary target's statement — Annotations to section 644 Key principles Definitions and cross-references History and explanatory materials Texts and literature [6.645] Form of supplementary statement and consequences of lodgment — Annotations to sections 645–646 Key principles Texts and literature [6.647] To whom a supplementary statement must be sent — Annotations to section 647 Key principles History and explanatory materials Instruments and class orders Texts and literature Division 5 — General rules on takeover procedure [ss 648A–648H] Subdivision A — Experts' reports [s 648A] [6.648A] Experts' reports — Annotations to section 648A Key principles Definitions and cross-references History and explanatory materials Texts and literature Subdivision B — Sending documents to holders of securities [ss 648B–648C] [6.648B] Sending documents to holders of securities — Annotations to sections 648B–648C Key principles History and explanatory materials Texts and literature Subdivision C — Effect of proportional takeover approval provisions [ss 648D–648H] [6.648D] Effect of proportional takeover approval provisions — Annotations to sections 648D–648H Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 6.6 — Variation of offers [ss 649A–651C] Division 1 — Market bids [ss 649A–649C] [6.649A] General — Annotations to sections 649A–649C Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Off-market bids (Express variation by bidder) [ss 650A–650G] [6.650A] Off-market bids — Increase in consideration offered and extension of offer period — Annotations to sections 650A–650C Key principles Increase in consideration Extension of offer period Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.650D] Off-market bids — other provisions relating to variations — Annotations to sections 650D–650G Key principles Manner of variation of off-market bids Offeree's right to withdraw acceptance Freeing off-market bids from defeating conditions Non-fulfilment of defeating conditions Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 3 — Off-market bids (Automatic variations) [ss 651A–651C] [6.651A] Off-market bid — effect on bid consideration of purchases made outside bid — Annotations to sections 651A–651C Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 6.7 — Withdrawal and suspension of offers [ss 652A–652C] [6.652A] Withdrawal of offers — Annotations to sections 652A–652C Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 6.8 — Acceptances [ss 653A–653B] [6.653A] Acceptance of offers made under off-market bid — Annotations to sections 653A–653B Key principles History and explanatory materials Instruments and class orders Texts and literature Part 6.9 — Other activities in takeovers bids [ss 654A–654C] [6.654A] Other activities during the bid period — Annotations to sections 654A–654C Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 6.10 — Review and intervention [ss 655A–659C] Division 1 — ASIC's power to exempt and modify [ss 655A–665B] [6.655A] ASIC's power to exempt and modify — Annotations to sections 655A–665B Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — The Takeovers Panel [ss 656A–659C] [6.656A] Review of exercise of exemption or modification powers — Annotations to sections 656A–656B Key principles Definitions and cross-references History and explanatory materials Texts and literature [6.657A] Unacceptable circumstances — Annotations to section 657A Key principles Definitions and cross-references History and explanatory materials Texts and literature [6.657B] When panel may make declarations — Annotations to section 657B Key principles [6.657C] Applying for declaration and orders — Annotations to section 657C Key principles Definitions and cross-references History and explanatory materials Texts and literature [6.657D] Orders that Panel may make following declaration — Annotations to section 657D Key principles Definitions and cross-references History and explanatory materials Texts and literature [6.657E] Interim orders — Annotations to section 657E Key principles History and explanatory materials Texts and literature [6.657EA] Internal Panel reviews and references by Courts — Annotations to sections 657EA–657EB Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6.657F] Contravention of Panel order and orders by the Court — Annotations to sections 657F–657G Key principles Definitions and cross-references History and explanatory material Texts and literature [6.658A] Procedural matters: Panel — Annotations to sections 658A–658C Key principles Texts and literature [6.659A] Panel may refer questions of law to the Court — Annotations to section 659A Key principles Texts and literature [6.659AA] Court proceedings before and after end of bid period — Annotations to sections 659AA–659C Key principles Court proceedings before end of bid period Court proceedings after end of bid period Definitions and cross-references History and explanatory material Texts and literature Chapter 6A — Compulsory Acquisitions and Buy-outs [ss 660A–669] Application of Chapter 6A [6A.660A] Extension of Chapter to some listed bodies that are not companies, and to registered schemes but not MCIs — Annotations to section 660A–660C Key principles Part 6A.1 — Compulsory Acquisitions and Buy-Outs following a Take-over Bid [ss 661A–663C] Division 1 — Compulsory acquisition of bid class securities [ss 661A–661E] [6A.661A] Compulsory acquisition power following takeover bid — Annotations to section 661A Key principles Scope of section When compulsory acquisition is available under this section Court's discretion to permit compulsory acquisition if thresholds not satisfied Securities to be acquired Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6A.661B] The compulsory acquisition process — Annotations to sections 661B–661D Key principles Form of the notice Terms of acquisition Provision of names and address of other holders to a dissenting holder Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6A.661E] Holder may apply to Court to stop acquisition — Annotations to section 661E Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Compulsory buy-out of bid class securities [ss 662A–662C] [6A.662A] Bidder must offer to buy out remaining holders of bid class securities — Annotations to sections 662A–662C Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 3 — Compulsory buy-out of convertible securities [ss 663A–663C] [6A.663A] Bidder must offer to buy out remaining holders of convertible securities — Annotations to sections 663A–663C Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 6A.2 — General compulsory acquisitions and buy-outs [ss 664A–665C] Division 1 — Compulsory acquisition of securities by 90% holder [ss 664A–664F] [6A.664A] Threshold for general compulsory acquisition power — Annotations to section 664A Key principles When a 90% holder may acquire remainder of securities in class What is a "full beneficial interest" Constitutional validity of Pt 6A.2 Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6A.664AA] Time limit on compulsory acquisition power — Annotations to section 664AA Key principles History and explanatory materials Texts and literature [6A.664B] Terms for compulsory acquisition — Annotations to section 664B Key principles History and explanatory materials Texts and literature [6A.664C] Content of compulsory acquisition notice — Annotations to section 664C Key principles History and explanatory materials Texts and literature [6A.664D] Benefits outside compulsory acquisition procedure — Annotations to section 664D Key principles History and explanatory materials Texts and literature [6A.664E] Holder's right to object to compulsory acquisition — Annotations to section 664E Key principles Definitions and cross-references History and explanatory materials Texts and literature [6A.664F] Court's power to approve compulsory acquisition — Annotations to section 664F Key principles History and explanatory materials Texts and literature Division 2 — Compulsory buy-out of convertible securities by 100% holder [ss 665A–665C] [6A.665A] Compulsory buy-out of convertible securities by 100% holder — Annotations to sections 665A–665C Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 6A.3 — Completion of compulsory acquisitions of securities [ss 666A–666B] [6A.666A] Completing the acquisition of securities — Annotations to sections 666A–666B Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 6A.4 — Experts' reports and valuations [ss 667A–667C] [6A.667A] Expert's report — Annotations to section 667A Key principles History and explanatory materials Texts and literature [6A.667AA] Expert to be nominated by ASIC — Annotations to section 667AA Key principles History and explanatory materials Texts and literature [6A.667B] Expert must not be associate and must disclose prior dealings and relationships — Annotations to section 667B Key principles Definitions and cross-references History and explanatory materials Texts and literature [6A.667C] Valuation of securities — Annotations to section 667C Key principles Determining value of the company as a whole Allocation of value between classes Check against consideration paid in previous six months Date at which value is to be determined Significance of expert's report History and explanatory materials Texts and literature Part 6A.5 — Unclaimed consideration [ss 668A–668B] [6A.668A] Unclaimed consideration — Annotations to sections 668A–668B Key principles History and explanatory materials Texts and literature Part 6A.6 — ASIC powers [s 669] [6A.669] ASIC powers — Annotations to section 669 Key principles History and explanatory materials Texts and literature Chapter 6B — Rights and Liabilities in Relation to Chapter 6 and 6A Matters [ss 670A–670F] Chapter 6B — Rights and Liabilities in Relation to Chapter 6 and 6A Matters [ss 670A–670F] Chapter 6B — Rights and Liabilities in Relation to Chapter 6 and 6A Matters [ss 670A–670F] [6B.670A] Misstatements in, or omissions from, takeover and compulsory acquisition and buy-out documents— Annotations to section 670A Key principles Scope of prohibition Statements about future matters When an offence or civil penalty liability is established Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6B.670B] Right to recover for loss or damage resulting from contravention — Annotations to section 670B Key principles Definitions and cross-references History and explanatory materials Texts and literature [6B.670C] People liable on takeover or compulsory acquisition statement to inform maker about deficiencies in the statement — Annotations to section 670C Key principles Definitions and cross-references History and explanatory materials Texts and literature [6B.670D] Defences against prosecutions under subsection 670A(3) and actions under section 670B— Annotations to section 670D Key principles History and explanatory materials Texts and literature [6B.670E] Liability for proposing a bid or not carrying through with bid — Annotations to section 670E Key principles Definitions and cross-references History and explanatory materials Texts and literature [6B.670F] Defences — Annotations to section 670F Key principles History and explanatory materials Texts and literature Chapter 6C — Information about Ownership of Listed Companies and Managed Investment Schemes [ss 671A–673B] Part 6C.1 — Substantial holding information [ss 671A–671C] Part 6C.1 — Substantial holding information [ss 671A–671C] [6C.671A] Information about substantial holdings must be given to company, responsible entity and relevant market operator — Annotations to sections 671A–671B Key principles Purpose of the provisions Triggers for providing information What information must be provided Documents to be provided under s 671B(4) When information must be provided ASIC's power to exempt and modify Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6C.671C] Civil liability — annotations to section 671C Key principles History and explanatory materials Texts and literature Part 6C.2 — Tracing beneficial ownership of shares [ss 672A–672F] Part 6C.2 — Tracing beneficial ownership of shares [ss 672A–672F] [6C.672A] Disclosure notices — Annotations to sections 672A–672B Key principles Purpose of the provisions When notice may be given Service of notice on foreign corporation Information to be disclosed Timing of disclosure Vexatious directions Relief from compliance Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6C.672C] Associated matters — Annotations to sections 672C–672E Key principles Definitions and cross-references History and explanatory materials Texts and literature [6C.672F] Civil liability — Annotations to section 672F Key principles History and explanatory materials Texts and literature Part 6C.3 — ASIC's powers [s 673B] Part 6C.3 — ASIC's powers [s 673B] [6C.673] Information about substantial holdings must be given to company, responsible entity and relevant market operator — Annotations to section 673B Key principles History and explanatory materials Texts and literature Chapter 6CA — Continuous Disclosure [ss 674–677] Chapter 6CA — Continuous Disclosure [ss 674–677] [6CA.674] Continuous disclosure — listed disclosing entity bound by a disclosure requirement in market listing rules — Annotations to section 674 [Current to October 2018] Key principles Purpose of continuous disclosure regime Obligation under ASX Listing Rules Exceptions to disclosure requirement under ASX Listing Rules Statutory continuous disclosure obligation Materiality Criminal penalty for contravention Civil penalty liability for contravention Civil penalty liability of person involved in contravention Infringement notice regime Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6CA.675] Continuous disclosure — other disclosing entities — Annotations to section 675 [Current to October 2018] Key principles Instruments and class orders Texts and literature [6CA.676] Sections 674 and 675 — when information is generally available— Annotations to section 676 [Current to October 2018] Key principles Texts and literature [6CA.677] Material effect on price or value — Annotations to section 677 [Current to October 2018] Key principles Definitions and cross references Texts and literature Chapter 6D — Fundraising [ss 700–742] Part 6D.1 — Application of the fundraising provisions [ss 700–705] [6D.700] Coverage of the fundraising provisions — Annotations to section 700 [Current to April 2019] Key principles Definition of securities Offers and invitations both covered Liability on person offering securities Geographical coverage of chapter History and explanatory materials Instruments and class orders Texts and literature [6D.702] Treatment of offers of options over securities — Annotations to section 702 [Current to April 2019] Key principles History and explanatory materials Instruments and class orders Texts and literature [6D.703] Chapter may not be contracted out of — Annotations to section 703 [Current to April 2019] History and explanatory materials Texts and literature [6D.703B] Part generally does not apply in relation to CSF offers — Annotations to section 703B [Current to April 2019] Key principles History and explanatory materials [6D.704] When disclosure is needed and types of disclosure documents — Annotations to sections 704–705 [Current to April 2019] Key principles Part 6D.2 — Disclosure to investors about securities [ss 706–725] Division 2 — Offers that need disclosure to investors [ss 706–708A] [6D.706] Issue offers that need disclosure — Annotations to section 706 [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6D.707] Sale offers that need disclosure — Annotations to section 707 [Current to April 2019] Key principles Scope of section Off-market sale by controller Sale amounting to indirect issue Sale amounting to indirect off-market sale by controller Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6D.708] Offers that do not need disclosure — Annotations to section 708 [Current to April 2019] Key principles Scope of section Small-scale offerings Offer to sophisticated investors Offer to licensed dealers Offer to professional investors Other exemptions Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6D.708AA] Rights issues that do not need disclosure — Annotations to section 708AA [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders [6D.708A] Sale offers that do not need disclosure — Annotations to section 708A [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 3 — Types of disclosure documents [s 709] [6D.709] Prospectuses, short-form prospectuses, profile statements and offer information statements — Annotations to section 709 [Current to April 2019] Key principles Requirement for disclosure statement Profile statement Offer information statement History and explanatory materials Instruments and class orders Texts and literature Division 4 — Disclosure requirements [ss 710–716] [6D.710] Prospectus content—general disclosure test — Annotations to section 710 [Current to April 2019] Key principles History and explanatory materials Texts and literature [6D.711] Prospectus content—specific disclosures — Annotations to section 711 [Current to April 2019] Key principles Disclosure of interests Quotation of securities Expiry date Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6D.712] Prospectus content — short form prospectuses — Annotations to section 712 [Current to April 2019] History and explanatory materials Texts and literature [6D.713] Special prospectus content rules for continuously quoted securities — Annotations to section 713 [Current to April 2019] Key principles Scope of disclosure Information excluded from continues disclosure rules Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6D.713A] Offer of simple corporate bonds — Annotations to sections 713A–713E [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature [6D.714] Contents of profile statement — Annotations to section 714 [Current to April 2019] Key principles [6D.715] Contents of offer information statement — Annotations to section 715 [Current to April 2019] Key principles Instruments and class orders [6D.715A] Presentation etc of disclosure documents — Annotations to section 715A [Current to April 2019] Key principles History and explanatory materials Texts and literature [6D.716] Disclosure document date and contents — Annotations to section 716 [Current to April 2019] Key principles Definitions and cross-references Instruments and class orders Division 5 — Procedure for offering securities [ss 717–725] [6D.717] Overview of procedure for offering securities — Annotations to sections 717–725 [Current to April 2019] Key principles Steps in offering securities Minimum subscription and quotation conditions Choices open to person making the offer if disclosure document condition not met or disclosure document defective Expiration of disclosure document Definitions and cross-references Instruments and class orders History and explanatory materials Texts and literature Part 6D.3 — Prohibitions, liabilities and remedies (other than for CSF offers) [ss 725A–738] Division 1 — Prohibitions, liabilities [ss 725A–736] [6D.725A] Part generally does not apply in relation to CSF offers — Annotations to section 725A [Current to April 2019] Key principles History and explanatory materials [6D.726] Offering securities in a body that does not exist — Annotations to section 726 [Current to April 2019] Key principles [6D.727] Offering securities without a current disclosure document — Annotations to section 727 [Current to April 2019] Key principles Requirement for disclosure document Exposure period Breach of s 708 ceiling Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [6D.728] Misstatement in, or omission from, disclosure document — Annotations to section 728 [Current to April 2019] Key principles Whether a statement in a disclosure document is misleading Forward-looking statements Material omission Criminal and civil penalty liability for contravention of this section Accessorial liability Application of misleading and deceptive conduct provisions Definitions and cross-references History and explanatory materials Texts and literature [6D.729] Right to recover for loss or damage resulting from a contravention — Annotations to section 729 [Current to April 2019] Key principles Persons liable Causation Quantification Limitation period Definitions and cross-references History and explanatory materials Texts and literature [6D.730] People liable in disclosure document to inform person making the offer about deficiencies in the disclosure document — Annotations to section 730 [Current to April 2019] History and explanatory materials [6D.731] Due diligence defence for prospectuses — Annotations to section 731 [Current to April 2019] Key principles History and explanatory materials Texts and literature [6D.732] Lack of knowledge defence for offer information statements and profile statements — Annotations to section 732 [Current to April 2019] Key principles History and explanatory materials Texts and literature [6D.733] General defences for all disclosure documents — Annotations to section 733 [Current to April 2019] Key principles Reasonable reliance on information given by someone else Withdrawal of consent Lack of awareness of new matter History and explanatory materials Texts and literature [6D.734] Restrictions on advertising and publicity — Annotations to section 734 [Current to April 2019] Key principles Scope of section Advertising where disclosure document is not required Advertising before disclosure document is lodged Advertising after disclosure document is lodged Pathfinder prospectuses History and explanatory materials Instruments and class orders Texts and literature [6D.736] Securities hawking prohibited — Annotations to section 736 [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Remedies [ss 737–738] [6D.737] Remedies for investors — Annotations to section 737 [Current to April 2019] [6D.738] Securities may be returned and refund obtained — Annotations to section 738 [Current to April 2019] Key principles History and explanatory materials Part 6D.3A — Crowd-sourced funding [ss 738A–738ZJ] [6D.738A] Crowd-sourced funding — Annotations to sections 738A–738ZJ [Current to April 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 6D.4 — ASIC's powers [ss 739–742] [6D.739] ASIC stop orders — Annotations to section 739 [Current to April 2019] Key principles When a stop order can be made Interim stop order Definitions and cross-references History and explanatory materials Texts and literature [6D.740] Anti-avoidance determinations — Annotations to section 740 [Current to April 2019] Key principles Texts and literature [6D.741] Exemptions and modifications — Annotations to sections 741-742 [Current to April 2019] Key principles History and explanatory materials Texts and literature Part 7.11 — Title and transfer [ss 1070A–1075A] Division 1 — Title to certain securities [ss 1070A–1070D] [7.1070A] Nature of shares and certain other interests in a company or registered scheme — Annotations to sections 1070A–1070D [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Transfer of certain securities [ss 1071A–1072H] Subdivision A — General provisions [ss 1071A–1071H] [7.1071A] Application of the Subdivision to certain securities — Annotations to sections 1071A–1071H [Current to July 2022] Key principles Scope of provisions Requirement for proper instrument of transfer Transfer of securities by personal representative Other matters Court's powers on refusal or failure to register transfer History and explanatory materials Instruments and class orders Texts and literature Subdivision B — Special provisions for shares [ss 1072A–1072H] [7.1072A] Transmission of shares on death (replaceable rule — see section 135) — Annotations to sections 1072A–1072H [Current to July 2022] Key principles Transmission of shares on death, bankruptcy or mental incapacity Registration of trustee on death, incapacity or bankruptcy Discretion to refuse to register transfers History and explanatory materials Texts and literature Division 3 — Transfer of certain securities effected otherwise than through a prescribed CS facility [ss 1073A–1073F] [7.1073A] Application of the Division to certain securities — Annotations to sections 1073A–1073F [Current to June 2021] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 3 — Transfer of certain securities effected otherwise than through a prescribed CS facility [ss 1073A–1073F] [7.1073A] Application of the Division to certain securities — Annotations to sections 1073A–1073F [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 4 — Transfer of financial products effected through a prescribed CS facility [ss 1074A–1074G] [7.1074A] Financial products to which this Division applies — Annotations to sections 1074A–1074G [Current to March 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 4 — Transfer of financial products effected through a prescribed CS facility [ss 1074A–1074G] [7.1074A] Financial products to which this Division applies — Annotations to sections 1074A–1074G [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 4 — Transfer of financial products effected through a prescribed CS facility [ss 1074A–1074G] [7.1074A] Financial products to which this Division applies — Annotations to sections 1074A–1074G [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Chapter 7 — Financial Services and Markets [ss 760A–1101J] Part 7.1 — Preliminary [ss 760A–769C] Division 2 — Definitions [ss 761A–761H] [7.761A] Definitions — Annotations to section 761A [Current to July 2022] "acquire" "arrangement" "Australian CS facility licence" "Australian financial services licence" "Australian market licence" "authorised representative" "basic deposit product" Cross-references History and explanatory materials Instruments and class orders Texts and literature "binder" "carried on in this jurisdiction" "dealing" in a financial product "derivative" "dispose" "disqualified individual" "financial market" "financial product" "financial product advice" "financial service" "financial services business" Key principles History and explanatory materials Texts and literature "Financial Services Guide" "financial services law" "financial services licence" "foreign exchange contract" "further market-related advice" Instruments and class orders "general advice" "licensed CS facility" "licensed market" "makes a market" "market integrity rules" "market licensee" "operated in this jurisdiction" "operating rules" "personal advice" "prescribed CS facility" Instruments and class orders "relevant personal circumstances" "retail client" "security" History and explanatory materials Texts and literature "Statement of Advice" "Supplementary Financial Services Guide" "Supplementary Product Disclosure Statement" "wholesale client" [7.761B] Meaning of "arrangement" — Annotations to section 761B [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.761C] Meaning of "carry on" a financial services business — Annotations to section 761C [Current to July 2022] Key principles [7.761CA] Meaning of "class" and "kind" of financial products and financial services — Annotations to section 761CA [Current to July 2022] Instruments and class orders [7.761D] Meaning of "derivative" — Annotations to section 761D [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.761DA] Meaning of insurance claims manager — Annotations to section 761DA [Current to July 2022] Key principles History and explanatory materials [7.761E] Meaning of "issued", "issuer", "acquire" and "provide" in relation to financial products — Annotations to section 761E [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.761EA] Meaning of "margin lending facility", "margin call" and associated expressions — Annotations to section 761EA [Current to July 2022] Key principles Instruments and class orders [7.761F] Meaning of person — partnerships and trustees — Annotations to sections 761F–761FA [Current to July 2022] Key principles [7.761G] Meaning of retail client and wholesale client — Annotations to section 761G [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.761GA] Meaning of retail client — sophisticated investors — Annotations to section 761GA [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.761H] References to this Chapter include references to regulations etc [Current to July 2022] Key principles Division 3 — What is a financial product? [ss 762A–765B] [7.762A] Overview of approach to defining a financial product — Annotations to sections 762A–762C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.763A] General definition of "financial product" — Annotations to section 763A [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.763B] When a person makes a financial investment — Annotations to section 763B [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.763C] When a person manages financial risk — Annotations to section 763C [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.763D] When a person makes non-cash payments — Annotations to section 763D [Current to July 2022] History and explanatory materials Instruments and class orders Texts and literature [7.763E] What if a financial product is only incidental — Annotations to section 763E [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.764A] Specified things that are financial products — Annotations to section 764A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.765A] Specified things that are not financial products — Annotations to sections 765A–765B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 4 — When does a person provide a financial service? [ss 766A–766E] [7.766A] When does a person provide a "financial service"? — Annotations to section 766A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.766B] Financial product advice — Annotations to section 766B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.766C] "Dealing" — Annotations to section 766C [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.766D] Making a market — Annotations to section 766D [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.766E] Providing a custodial or depository service — Annotations to section 766E [Current to July 2022] Key principles Definitions and cross references History and explanatory materials Instruments and class orders Texts and literature [7.766F] Meaning of provides a crowd-funding service — Annotations to section 766F [Current to July 2022] Key principles History and explanatory materials [7.766G] Meaning of claims handling and settling service — Annotations to section 766G [Current to July 2022] Key principles History and explanatory materials [7.766H] Meaning of provides a superannuation trustee service — Annotations to section 766H [Current to July 2022] Key principles History and explanatory materials Division 5 — What is a financial market? [s 767A] [7.767A] What is a "financial market"? — Annotations to section 767A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 6 — What is a clearing and settlement facility? [s 768A] [7.768A] Clearing and settlement facility — Annotations to section 768A [Current to July 2022] Key principles Instruments and class orders Texts and literature Division 7 — General provisions relating to civil and criminal liability [ss 769A–769C] [7.769A] Part 2.5 of the Criminal Code does not apply — Annotations to section 769A [Current to July 2022] Key principles [7.769B] People are generally responsible for the conduct of their agents, employees etc — Annotations to section 769B [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.769C] Representations about future matters taken to be misleading if made without reasonable grounds — Annotations to section 769C [Current to July 2022] Key principles Texts and literature Part 7.2 — Licensing of financial markets [ss 790A–798E] Division 1 — Preliminary [s 790A] [7.790A] Definition of clearing and settlement arrangements — Annotations to section 790A [Current to July 2022] History and explanatory materials Texts and literature Division 2 — Requirement to be licensed [ss 791A–791D] [7.791A] Need for a licence — Annotations to sections 791A–791D [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 3 — Regulation of market licensees [ss 792A–794E] [7.792A] Obligations of market licensees — Annotations to sections 792A–792I [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.793A] Operating rules of licensed markets — Annotations to sections 793A–793E [Current to July 2022] Key principles Contents and effect of operating rules Enforcement of the operating rules Standing Change to operating rules Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.794A] Powers of ASIC and the minister in relation to licensed markets — Annotations to sections 794A–794E [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 4 — The Australian market licence [ss 795A–797G] [7.795A] Grant of Australian market licence — Annotations to sections 795A–795B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.795C] Other provisions relating to grant of Australian market licence — Annotations to sections 795C–795E [Current to July 2022] Key principles [7.796A] Conditions on the licence — Annotations to section 796A [Current to July 2022] Key principles [7.797A] When a licence can be varied, suspended or cancelled — Annotations to sections 797A–797G [Current to July 2022] Key principles Division 5 — Other matters [ss 798A–798E] [7.798A] Matters to be taken into account by the minister — Annotations to sections 798A–798E [Current to July 2022] History and explanatory materials Instruments and class orders Texts and literature Part 7.2A — Supervision of financial markets [ss 798F–798L] [7.798F] ASIC to supervise financial markets and market integrity rules — Annotations to sections 798F–798H [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.798J] Directions by ASIC — Annotations to section 798J [Current to July 2022] Key principles History and explanatory materials [7.798K] Alternatives to civil proceedings — Annotations to section 798K [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Enforceable undertakings Infringement notices Markets Disciplinary Panel Texts and literature [7.798L] Exemptions and modifications — Annotations to sections 798L–798M [Current to July 2022] Key principles Part 7.3 — Licensing of clearing and settlement facilities [ss 820A–827D] Division 1 — Requirement to be licensed [ss 820A–820D] [7.820A] Licensing of clearing and settlement facilities — Annotations to sections 820A–820D [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Regulation of CS facility licensees [ss 821A–823E] Subdivision A — Licensee's obligations [ss 821A–821F] [7.821A] Licences — Annotations to sections 821A–821F [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Subdivision B — The facility's operating rules and procedures [ss 822A–822E] [7.822A] The clearing and settlement facility's operating rules and procedures — Annotations to sections 822A–822E [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Subdivision C — Powers of the minister, ASIC and the Reserve Bank in relation to licensees [ss 823A–823E] [7.823A] Powers of the minister, ASIC and the Reserve Bank in respect of clearing and settlement facilities — Annotations to sections 823A–823E [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 3 — The Australian CS facility licence [ss 824A–826G] [7.824A] Application for an Australian clearing and settlement facility licence — Annotations to sections 824A–824B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.824C] Other provisions relating to grant of Australian CS facility licence — Annotations to sections 824C–824E [Current to July 2022] Key principles [7.825A] Conditions on the licence — Annotations to section 825A [Current to July 2022] Key principles [7.826A] When a licence can be varied, suspended or cancelled — Annotations to sections 826A–826F [Current to July 2022] Key principles Division 4 — Other matters [ss 827A–827D] [7.827A] Matters to be taken into account by minister — Annotations to section 827A [Current to July 2022] History and explanatory materials Texts and literature Part 7.4 — Limits on involvement with licensees [ss 850A–854B] Division 1 — Limit on control of certain licensees [ss 850A–852B] [7.850A] Limits on control of Australian market licensees, Australian CS facility licensees and their holding companies — Annotations to sections 850A–852B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 2 — Individuals who are not fit and proper are disqualified [ss 853A–853G] [7.853A] Disqualification of persons involved with market licensees — Annotations to sections 853A–853G [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 3 — Miscellaneous [ss 854A–854B] [7.854A] Miscellaneous — Annotations to sections 854A–854B [Current to July 2022] Instruments and class orders Part 7.5 — Compensation regimes for financial markets [ss 880A–893A] Division 1 — Preliminary [ss 880A–880B] [7.880A] Preliminary — Annotations to sections 880A–880B [Current to July 2022] Key principles Division 2 — When there must be a compensation regime [ss 881A–881D] [7.881A] When a licensed market must have a compensation scheme — Annotations to sections 881A–881D [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 3 — Approved compensation arrangements [ss 882A–886B] [7.882A] Approved compensation arrangements — Annotations to sections 882A–886B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 4 — National guarantee fund compensation regime [ss 887A–891C] [7.887A] National guarantee fund — Annotations to sections 887A–891C [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 5 — Provisions common to both kinds of compensation arrangements [ss 892A–892K] [7.892A] Provisions common to compensation arrangements under Div 3 and to the NGF — Annotations to sections 892A–892K [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Part 7.5A — Regulation of derivative transactions and derivative trade repositories [ss 900A–907E] Division 1 — Application of Part [s 900A] Key principles History and explanatory materials Division 2 — Regulation of derivative transactions: Derivative transaction rules [ss 901A–901M] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Division 3 — Regulation of licensed derivative trade repositories: Supervision by ASIC [s 902A] Key principles Definitions and cross references History and explanatory materials Division 4 — Regulation of licensed derivative trade repositories: Derivative trade repository rules [ss 903A–903K] Key principles History and explanatory materials Division 5 — Regulation of licensed derivative trade repositories: Other obligations and powers [ss 904A–904K] Key principles History and explanatory materials Division 6 — Regulation of licensed derivative trade repositories: Licensing [ss 905A–907E] Key principles Definitions and cress-references History and explanatory materials Part 7.5B — Regulation of financial benchmarks [ss 908AA–908AG] Division 1 — Simplified outline [s 908AA] Key principles Definitions and cross-references History and explanatory materials [7.908AB] Meaning of financial benchmark — Annotations to section 908AB [Current to July 2022] Key principles History and explanatory materials [7.908AC] Significant financial benchmark — Annotations to sections 908AC–908AE [Current to July 2022] Key principles History and explanatory materials [7.908AF] ASIC to supervise financial benchmarks that are specified in benchmark administrator licences — Annotations to section 908AF [Current to July 2022] Key principles History and explanatory materials [7.908AG] Extraterritorial application — Annotations to section 908AG [Current to July 2022] Key principles History and explanatory materials Division 2 — Licensing of financial benchmarks [ss 908BA–908BX] Subdivision A — Requirement to be licensed [ss 908BA–908BB] [7.908BA] Administrators of significant financial benchmarks must be licensed — Annotations to sections 908BA–908BB [Current to July 2022] Key principles History and explanatory materials Subdivisions B–F — Granting licences, licence conditions and variation etc of licences [ss 908BC–908BO] [7.908BC] Granting benchmark administrator licences, licence conditions and variation etc of licences — Annotations to sections 908BC–908BO [Current to July 2022] Key principles History and explanatory materials Subdivisions F–H — Other obligations of benchmark administrators, directions to benchmark administrators and other matters [ss 908BP–908BX] [7.908BP] Other obligations of benchmark administrators, directions to benchmark administrators and other matters — Annotations to sections 908BP–908BX [Current to July 2022] Key principles History and explanatory materials Division 3 — Financial benchmark rules and compelled financial benchmark rules [ss 908CA–908CQ] [7.908CA] Financial benchmark rules and compelled financial benchmark rules — Annotations to sections 908CA–908CQ [Current to July 2022] Key principles History and explanatory materials Division 4 — Offences and civil penalties relating to manipulation of financial benchmarks [ss 908DA–908DD] [7.908DA] Manipulation of financial benchmarks — Annotations to sections 908DA–908DD [Current to July 2022] Key principles History and explanatory materials Division 5 — Other provisions [ss 908EA–908EB] [7.908EA] Other provisions — Annotations to sections 908EA–908EB [Current to July 2022] Key principles History and explanatory materials Part 7.6 — Licensing of providers of financial services [ss 910A–926B] Division 1 — Preliminary [s 910A] [7.910A] Definitions — Annotations to sections 910A–910D [Current to July 2022] History and explanatory materials Division 2 — Requirement to be licensed or authorised [ss 911A–911D] [7.911A] Need for an Australian financial services licence — Annotations to section 911A [Current to July 2022] Scope of licensing regime Carrying on a business Consequences of contravention Definitions and cross-references History and explanatory materials Instruments and class orders Exemptions under the Corporations Regulations Relief for foreign financial services providers dealing with wholesale clients Other relief for dealings with wholesale clients Other relief Texts and literature [7.911B] Providing financial services on behalf of a person who carries on a financial services business — Annotations to section 911B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.911C] Prohibition on holding out — Annotations to section 911C [Current to July 2022] Key principles [7.911D] When a financial services business is taken to be carried on in this jurisdiction — Annotations to section 911D [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 3 — Obligations of financial services licensees [ss 912A–912F] [7.912A] General obligations of financial services licensees — Annotations to section 912A [Current to July 2022] Key principles "Efficiently, honestly and fairly" standard Fiduciary obligations Management of conflicts of interest Other obligations on financial services licensees Dispute resolution requirements in relation to licensees dealing with retail clients Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.912B] Compensation arrangements if financial services are provided to persons as retail clients — Annotations to section 912B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.912C] Licensee's obligation to provide information to ASIC — Annotations to section 912C [Current to July 2022] Key principles [7.912D] Obligation to notify ASIC of certain matters — Annotations to sections 912D–912DA [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.912E] Surveillance checks by ASIC — Annotations to section 912E [Current to July 2022] Key principles Definitions and cross-references [7.912EA] Notifying and remediating clients affected by reportable situations — Annotations to sections 912EA–912EC [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.912F] Obligation to cite licence number in documents — Annotations to section 912F [Current to July 2022] Instruments and class orders Division 4 — Australian financial services licences [ss 913A–915J] [7.913A] Application for Australian financial services licences — Annotations to sections 913A–913C [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.914A] Licence conditions — Annotations to sections 914A–914B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.915A] Variation, suspension or cancellation of licences — Annotations to sections 915A–915J [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 5 — Authorised representatives [ss 916A–916G] [7.916A] Authorised representatives — Annotations to sections 916A–916G [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 6 — Liability of financial services licensees for representatives [ss 917A–917F] [7.917A] Liability of financial services licensee for conduct of representative — Annotations to sections 917A–917F [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 8 — Banning or disqualification of persons from providing financial services [ss 920A–921A] [7.920A] Banning orders — Annotations to sections 920A–920F [Current to July 2022] Key principles Scope of section Powers of AAT on review Ongoing criminal proceedings Other provisions relating to banning orders Definitions and cross-references History and explanatory materials Texts and literature [7.921A] Disqualification by the court — Annotations to section 921A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Divisions 8A–8C — Professional standards for relevant providers [ss 921B–921ZC] [7.921B] Education, training and ethical standards for relevant providers — Annotations to sections 921B–921F [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.921G] Action against relevant providers and registration of relevant providers — Annotations to sections 921G–921ZE [Current to July 2022] Key principles History and explanatory materials Division 9 — Registers relating to financial services [ss 922A–922S] [7.922A] Registers relating to financial services — Annotations to sections 922A–922S [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Division 10 — Restrictions on use of terminology [ss 923A–923C] [7.923A] Restriction on use of certain words or expressions — Annotations to sections 923A–923B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.923C] Restrictions on use of terms "financial adviser" and "financial planner" — Annotations to section 923C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Division 11 — Agreements with unlicensed persons relating to the provision of financial services [ss 924A–925I] [7.924A] Agreements with certain unlicensed persons — Annotations to sections 924A–925I [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 12 — Miscellaneous [ss 926A–926B] [7.926A] Exemptions and modifications by ASIC — Annotations to sections 926A–926B [Current to July 2022] Key principles Part 7.7 — Financial services disclosure [ss 940A–953C] Division 1 — Preliminary [ss 940A–940D] [7.940A] How Part applies if a financial services licensee is acting as authorised representative — Annotations to sections 940A–940D [Current to July 2022] Key principles Instruments and class orders History and explanatory materials Texts and literature Division 2 — Person provided with financial service as retail client to be given Financial Services Guide [ss 941A–943F] Subdivision A — Requirement for a Financial Services Guide to be given [ss 941A–941F] [7.941A] Obligation on financial services licensee to give a Financial Services Guide if financial service provided to person as a retail client — Annotations to sections 941A–941F [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Subdivision B — Content and authorisation of Financial Services Guide [ss 942A–942E] [7.942A] Content of Financial Services Guide — Annotations to sections 942A–942E [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Subdivision C — Supplementary Financial Services Guides [ss 943A–943F] [7.943A] What a Supplementary Financial Services Guide is — Annotations to sections 943A–943F [Current to July 2022] History and explanatory materials Texts and literature Division 3 — Additional requirements for personal advice provided to retail client [ss 944A–948A] Subdivision B — Requirements relating to basis of advice [ss 945A–945B] [7.945A] Requirement to have a reasonable basis for advice and warning as to incomplete information — Annotations to former ss 945A–945B [Current to July 2022] Transitional Note: Key principles Suitability obligations under former s 945A Obligation to warn under former s 945B Definitions and cross-references History and explanatory materials Texts and literature Subdivision C — Requirement for a Statement of Advice to be given [ss 946A–946C] [7.946A] Obligation to give client a Statement of Advice — Annotations to sections 946A–946C [Current to July 2022] Key principles When SoA is required Timing of giving SOA Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Subdivision D — Content of Statement of Advice [ss 947A–947E] [7.947A] Content of Statement of Advice — Annotations to sections 947A–947E [Current to July 2022] Key principles SOA provided by financial services licensee SOA provided by representative Recommendations for replacement of one product with another Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Subdivision E — Other matters [s 948A] [7.948A] Qualified privilege if providing entity complies with this Division — Annotations to section 948A [Current to July 2022] Key principles Division 3A — Cash Settlement Fact Sheets [ss 948B–948F] [7.948B] Cash Settlement Fact Sheets — Annotations to former sections 948B–948F [Current to July 2022] Key Principles History and explanatory materials Division 4 — Other disclosure requirements [ss 949A–949B] [7.949A] Warnings in relation to general advice provided to retail clients — Annotations to sections 949A–949B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 6 — Miscellaneous [ss 951A–951C] [7.951A] Miscellaneous — Annotations to sections 951A–951C [Current to July 2022] Key principles Texts and literature Division 7 — Enforcement [ss 952A–953C] Subdivision A — Offences [ss 952A–952M] [7.952A] Offences in respect of disclosure document — Annotations to sections 952A–952M [Current to July 2022] Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Subdivision B — Civil liability [ss 953A–953C] [7.953A] Civil liability in respect of disclosure documents — Annotations to sections 953A–953C [Current to July 2022] Key principles Circumstances in which this section applies Recovery of loss or damage against liable persons Other orders which can be made by the court Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 7.7A — Best interests obligations and remuneration [ss 960–968] Division 1 — Preliminary [7.960] Preliminary — Annotations to sections 960–960B [Current to July 2022] Key principles History and explanatory materials Texts and literature Division 2 — Best Interest Obligations Subdivision A — Preliminary [7.961] Preliminary — Annotations to sections 961–961A [Current to July 2022] Key principles History and explanatory materials Texts and literature Subdivision B — Provider must act in best interests of client [7.961B] Provider must act in best interests of client — Annotations to sections 961B–961F [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Subdivision C — Resulting advice must be appropriate to the client [7.961G] Resulting advice must be appropriate to the client — Annotations to section 961G [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Subdivision D — When resulting advice still based on incomplete or inaccurate information [7.961H] Resulting advice still based on incomplete or inaccurate information — Annotations to section 961H [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Subdivision E — Provider to give priority to the client's interests [7.961J] Conflict between client's interests and those of provider, licensee, authorised representative or associates — Annotations to section 961J [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Subdivision F — Responsibilities of licensees under this Division [7.961K] Responsibilities of licensees — Annotations to sections 961K–961P [Current to July 2022] Key principles History and explanatory materials Texts and literature Division 3 — Charging ongoing fees to clients [7.962] Ongoing fees — Annotations to sections 962–962X [Current to July 2022] Key principles Termination, disclosure and renewal of ongoing fee arrangements Consent required for deduction of ongoing fees from accounts Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 4 — Conflicted remuneration [7.963] Conflicted remuneration — Annotations to sections 963–963P [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 5 — Other banned remuneration [7.964] Other banned remuneration — Annotations to sections 964–964H [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 6 — Anti-avoidance [7.965] Anti-avoidance — Annotations to section 965 [Current to July 2022] Key principles History and explanatory materials Division 7 — Transition [7.966] Transition — Annotations to sections 966–968 [Current to July 2022] Key principles Part 7.8 — Other provisions relating to conduct etc connected with financial products and financial services, other than financial product disclosure [ss 980A–993D] Division 1 — Preliminary [ss 980A–980B] [7.980A] Preliminary — Annotations to sections 980A–980B [Current to July 2022] Key principles Division 2 — Dealing with clients' money [ss 981A–983E] Subdivision A — Money other than loans [ss 981A–981H] [7.981A] Money to which Subdivision applies — Annotations to section 981A [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.981B] Obligation to pay money into an account — Annotations to section 981B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.981C] Regulations may deal with various matters — Annotations to section 981C [Current to July 2022] History and explanatory materials [7.981D] Money related to derivatives may be used for general margining etc purposes — Annotations to section 981D [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.981E] Protection of money from attachment etc — Annotations to section 981E [Current to July 2022] Key principles [7.981F] Regulations may deal with how money to be dealt with if licensee ceases to be licensed etc — Annotations to section 981F [Current to July 2022] Key principles Instruments and class orders Texts and literature [7.981G] Account provider not liable merely because of licensee's contravention — Annotations to section 981G [Current to July 2022] Key principles [7.981H] Money to which Subdivision applies taken to be held in trust — Annotations to section 981H [Current to July 2022] Key principles Texts and literature Subdivision AA — Client money reporting rules [ss 981J–981P] [7.982AA] Client money reporting rules — Annotations to sections 981J–981P [Current to July 2022] Key principles Instruments and class orders Subdivision B — Loan money [ss 982A–982D] [7.982A] Treatment of loan money by licensees — Annotations to sections 982A–982D [Current to July 2022] Key principles When these requirements apply Obligations on licensee History and explanatory materials Instruments and class orders Texts and literature Subdivision C — Powers of court [ss 983A–983E] [7.983A] Court may freeze certain accounts — Annotations to sections 983A–983E [Current to July 2022] Key principles Orders under this section Other matters History and explanatory materials Texts and literature Division 3 — Dealing with other property of clients [ss 984A–984B] [7.984A] Property to which Division applies — Annotations to sections 984A–984B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 4 — Special provisions relating to insurance [ss 985A–985D] [7.985A] Definitions etc — Annotations to sections 985A–985D [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 4A — Special provisions relating to margin lending facilities [ss 985EA–985M] [7.985EA] Application of this Subdivision — Annotations to sections 985EA–985M [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Division 5 — Obligations to report [ss 986A–986B] [7.986A] Reporting in relation to money to which Subdivision A or B of Division 2 applies or property to which Division 3 applies — Annotations to sections 986A–986B [Current to July 2022] History and explanatory materials Division 6 — Financial records, statements and audits [ss 987A–990L] Subdivisions A and B — Preliminary [ss 987A–988G] [7.987A] Application of Division — Annotations to sections 987A–988G [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Subdivision C — Financial statements of financial services licensees [ss 989A–989D] [7.989A] Meaning of "financial year" — Annotations to sections 989A–989D [Current to July 2022] Key provisions History and explanatory materials Instruments and class orders Texts and literature Subdivision D — Appointment etc of auditors [ss 990A–990L] [7.990A] Appointment of auditors to licensees — Annotations to sections 990A–990L [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 7 — Other rules about conduct [ss 991A–991F] [7.991A] Financial services licensee not to engage in unconscionable conduct — Annotations to section 991A [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.991B] Financial services licensee to give priority to clients' orders — Annotations to section 991B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.991C] Regulations may deal with various matters relating to instructions to deal through licensed markets — Annotations to section 991C [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.991D] Regulations may require records to be kept in relation to instructions to deal on licensed markets and foreign markets — Annotations to section 991D [Current to July 2022] History and explanatory materials Instruments and class orders Texts and literature [7.991E] Obligations of financial services licensee in relation to dealings with non-licensees — Annotations to section 991E [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.991F] Dealings involving employees of financial services licensees — Annotations to section 991F [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 8 — Miscellaneous [ss 992A–992C] [7.992A] Prohibition on hawking of certain financial products — Annotations to section 992A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.992AA] Prohibition of hawking of managed investment products — Annotations to section 992AA [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.992B] Exemptions and modifications — Annotations to sections 992B–992C [Current to July 2022] Key principles Division 9 — Enforcement [ss 993A–993D] [7.993A] Offences under Part 7.8 Division 9 — Annotations to sections 993A–993D [Current to July 2022] Key principles History and explanatory materials Part 7.8A — Design and distribution requirements relating to financial products for retail clients [ss 994A–994Q] Division 1 — Preliminary and target market determination for financial products [ss 994A–994D] [7.994A] Preliminary and target market determination for financial products — Annotations to sections 994A–994D [Current to July 2022] Key principles Issuer to make target market determination Review of target market determination Prohibition on engaging in retail product distribution conduct unless target market determination made Definitions and cross-references History and explanatory materials Texts and literature Division 3 — Distribution of financial products [ss 994E–994G] [7.994E] Distribution of financial products — Annotations to sections 994E–994G [Current to July 2022] Key principles Further distribution obligations Record keeping Notifications to ASIC History and explanatory materials Division 4 — ASIC powers, exemptions and modifications and miscellaneous [ss 994H–994Q] [7.994H] ASIC powers, exemptions and modifications and miscellaneous — Annotations to sections 994H–994Q [Current to July 2022] Key principles History and explanatory materials Division 2 — Product disclosure statements [ss 1011A–1016F] [7.1011A] Jurisdictional scope of Division — Annotations to sections 1011A–1011C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1012A] Obligation to give Product Disclosure Statement — personal advice recommending particular financial product — Annotations to section 1012A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1012B] Obligation to give Product Disclosure Statement — situations related to issue of financial products — Annotations to section 1012B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1012C] Obligation to give Product Disclosure Statement — offers related to sale of financial products — Annotations to section 1012C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1012D] Situations in which Product Disclosure Statement is not required — Annotations to section 1012D [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1012DAA] Rights issue for which Product Disclosure Statement is not required — Annotations to section 1012DAA [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1012DA] Product Disclosure Statement not required for sale amounting to indirect issue — Annotations to section 1012DA [Current to July 2022] Key principles On-sales by regulated persons On-sales by controllers Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1012E] Small scale offerings of managed investment and other prescribed financial products (20 issues or sales in 12 months) — Annotations to section 1012E [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1012F] Product Disclosure Statement for certain superannuation products may be provided later — Annotations to sections 1012F–1012G [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.1012H] Obligation to take reasonable steps to ensure that PDS is given to person electing to be covered by group financial product — Annotations to section 1012H [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1012I] Obligation to give employer PDS in relation to certain superannuation and RSA products — Annotations to section 1012I [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1012IA] Arrangements under which a person can instruct another person to acquire a financial product — Annotations to section 1012IA [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.1012J] Information in PDS must be up to date — Annotations to section 1012J [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.1012K] Anti-avoidance determinations — Annotations to section 1012K [Current to July 2022] History and explanatory materials Texts and literature [7.1013A] Who must prepare a PDS and title of PDS — Annotations to sections 1013A–1013B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.1013C] Content of PDS — Annotations to section 1013C [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Simplified PDS for margin loan products Simplified superannuation product PDS Simplified managed investment scheme PDS Texts and literature [7.1013D] Main requirements for content of PDS — Annotations to section 1013D [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1013DA] Information about ethical considerations etc — Annotations to section 1013DA [Current to July 2022] Texts and literature [7.1013E] Obligation to include other information that might influence a decision to acquire — Annotations to section 1013E [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1013F] General limitations on extent to which information is required to be included in PDS — Annotations to section 1013F [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.1013FA] Information not required to be included in PDS for continuously quoted securities — Annotations to section 1013FA [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [7.1013G] Further requirements as to PDS — Annotations to sections 1013G–1013J [Current to July 2022] Key principles [7.1013K] Requirements relating to consent to certain statements — Annotations to section 1013K [Current to July 2022] Key principles Instruments and class orders Texts and literature [7.1013L] PDS may consist of two or more separate documents given at the same time and combining PDS and FSG — Annotations to sections 1013L–1013M [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Subdivision D — Supplementary Product Disclosure Statements [ss 1014A–1014F] [7.1014A] Supplementary PDS — Annotations to sections 1014A–1014F [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Subdivision DA — Replacement Product Disclosure Statements [ss 1014G–1014L] [7.1014G] Replacement Product Disclosure Statements — Annotations to sections 1014G–1014L [Current to June 2021] Key principles History and explanatory materials Subdivision DA — Replacement Product Disclosure Statements [ss 1014G–1014L] [7.1014G] Replacement Product Disclosure Statements — Annotations to sections 1014G–1014L [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Subdivision E — Other requirements relating to Product Disclosure Statements and Supplementary Product Disclosure Statements [ss 1015A–1015E] [7.1015A] Other requirements as to PDS and Supplementary PDS — Annotations to sections 1015A–1015E [Current to June 2021] History and explanatory materials Instruments and class orders Texts and literature Subdivision E — Other requirements relating to Product Disclosure Statements and Supplementary Product Disclosure Statements [ss 1015A–1015E] [7.1015A] Other requirements as to PDS and Supplementary PDS — Annotations to sections 1015A–1015E [Current to July 2022] History and explanatory materials Definitions and cross-references Instruments and class orders Texts and literature Subdivision F — Other rights and obligations related to Product Disclosure Statements [ss 1016A–1016F] [7.1016A] Other rights and obligations relating to PDS — Annotations to sections 1016A–1016F [Current to June 2021] Key principles History and explanatory materials Instruments and class orders Texts and literature Subdivision F — Other rights and obligations related to Product Disclosure Statements [ss 1016A–1016F] [7.1016A] Other rights and obligations relating to PDS — Annotations to sections 1016A–1016F [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 7 — Enforcement [ss 1021A–1022C] Subdivision A — Offences [ss 1021A–1021P] [7.1021A] Criminal liability — Annotations to sections 1021A–1021P [Current to June 2021] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 7 — Enforcement [ss 1021A–1022C] Subdivision A — Offences [ss 1021A–1021P] [7.1021A] Criminal liability — Annotations to sections 1021A–1021P [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Subdivision B — Civil liability [ss 1022A–1022C] [7.1022A] Civil liability — Annotations to sections 1022A–1022C [Current to June 2021] Key principles History and explanatory materials Instruments and class orders Texts and literature Subdivision B — Civil liability [ss 1022A–1022C] [7.1022A] Civil liability — Annotations to sections 1022A–1022C [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Part 7.9 — Financial product disclosure and other provisions relating to issue, sale and purchase of financial products [ss 1010A–1022C] Division 1 — Preliminary [ss 1010A–1010D] [7.1010A] Part generally does not apply to securities — Annotations to sections 1010A–1010D [Current to July 2022] Key principles Purpose of Pt 7.9 Application of this Part to CCIVs under Ch 8 Exclusions from the application of Pt 7.9 History and explanatory materials Instruments and class orders Texts and literature Division 3 — Other disclosure obligations of the issuer of a financial product [ss 1017A–1017G] [7.1017A] Obligation to give additional information on request — Annotations to sections 1017A–1017G [Current to June 2021] Key principles Ongoing disclosure of material changes and significant events Obligations relating to MySuper products and choice products Information for existing holders of superannuation and RSA products Periodic statements for retail clients for financial products that have an investment component Additional information to be provided by trustees of superannuation entities Dealing with money received for financial product before the product is issued Confirming transactions Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 3 — Other disclosure obligations of the issuer of a financial product [ss 1017A–1017G] [7.1017A] Obligation to give additional information on request — Annotations to sections 1017A–1017G [Current to July 2022] Key principles Ongoing disclosure of material changes and significant events Obligations relating to MySuper products and choice products Information for existing holders of superannuation and RSA products Periodic statements for retail clients for financial products that have an investment component Additional information to be provided by trustees of superannuation entities Dealing with money received for financial product before the product is issued Confirming transactions Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 4 — Advertising for financial products [ss 1018A–1018B] [7.1018A] Limits on advertising or other promotional material — Annotations to sections 1018A–1018B [Current to June 2021] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 4 — Advertising for financial products [ss 1018A–1018B] [7.1018A] Limits on advertising or other promotional material — Annotations to sections 1018A–1018B [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 5 — Cooling-off periods [ss 1019A–1019B] [7.1019A] Situations in which this Division applies — Annotations to sections 1019A–1019B [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 5 — Cooling-off periods [ss 1019A–1019B] [7.1019A] Situations in which this Division applies — Annotations to sections 1019A–1019B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 5A — Unsolicited offers to purchase financial products off-market [ss 1019C–1019K] [7.1019C] Definitions — Annotations to sections 1019C–1019K [Current to June 2021] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 5A — Unsolicited offers to purchase financial products off-market [ss 1019C–1019K] [7.1019C] Definitions — Annotations to sections 1019C–1019K [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 5B — Disclosure etc in relation to short sales covered by securities lending arrangements of listed section 1020B products [ss 1020AA–1020AF] [7.1020AA] Definitions — Annotations to sections 1020AA–1020AF [Current to June 2021] Key principles History and explanatory materials Instruments and class orders Division 5B — Disclosure etc in relation to short sales covered by securities lending arrangements of listed section 1020B products [ss 1020AA–1020AF] [7.1020AA] Definitions — Annotations to sections 1020AA–1020AF [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Division 5C — Information about CGS Depository Interests [ss 1020AG–1020AL] [7.1020AB] Information about CGS depository interests — Annotations to sections 1020AG–1020AL [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Division 5C — Information about CGS Depository Interests [ss 1020AG–1020AL] [7.1020AB] Information about CGS depository interests — Annotations to sections 1020AG–1020AL [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Division 6 — Miscellaneous [ss 1020A–1020G] [7.1020A] Prohibition on offers relating to managed investment schemes in certain circumstances — Annotations to section 1020A [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1020B] Short selling — Annotations to section 1020B [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1020C] Part 7.9 cannot be contracted out of — Annotations to section 1020D [Current to June 2021] Key principles [7.1020E] Stop orders by ASIC — Annotations to section 1020E [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1020F] Exemptions and modifications — Annotations to sections 1020F–1020G [Current to June 2021] Key principles Division 6 — Miscellaneous [ss 1020A–1020G] [7.1020A] Prohibition on offers relating to managed investment schemes in certain circumstances — Annotations to section 1020A [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1020B] Short selling — Annotations to section 1020B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1020C] Part 7.9 cannot be contracted out of — Annotations to section 1020D [Current to July 2022] Key principles [7.1020E] Stop orders by ASIC — Annotations to section 1020E [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1020F] Exemptions and modifications — Annotations to sections 1020F–1020G [Current to July 2022] Key principles Part 7.9A — Product intervention orders [ss 1023A–1023R] [7.1023A] Product intervention orders — Annotations to sections 1023A–1023R [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 7.10 — Market misconduct and other prohibited conduct relating to financial products and financial services [ss 1040A–1045A] Division 1 — Preliminary [ss 1040A–1040B] [7.1040A] Preliminary — Annotations to section 1040A [Current to July 2022] Key principles Division 2 — The prohibited conduct (other than insider trading prohibitions) [ss 1041A–1041K] [7.1041A] Market manipulation — Annotations to section 1041A [Current to June 2021] Key principles Scope of prohibition Concept of "artificial price" Stabilising conduct Penalty Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1041B] False trading and market rigging — creating a false or misleading appearance of active trading — Annotations to section 1041B [Current to June 2021] Key principles Scope of prohibition Wash sales and matched orders Penalties Definitions and cross-references History and explanatory materials Texts and literature [7.1041C] False trading and market rigging — artificially maintaining trading price — Annotations to section 1041C [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1041D] Dissemination of information about illegal transactions — Annotations to section 1041D [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1041E] False or misleading statements — Annotations to section 1041E [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1041F] Inducing persons to deal using false or misleading information — Annotations to section 1041F [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1041G] Dishonest conduct — Annotations to section 1041G [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1041H] Misleading or deceptive conduct — Annotations to section 1041H [Current to June 2021] Key principles Scope of section When conduct is misleading or deceptive Non-disclosures Definitions and cross-references History and explanatory materials Texts and literature [7.1041I] Civil action for loss or damages resulting from contravention of sections 1041E–1041H — Annotations to section 1041I [Current to June 2021] Key principles Scope of section Person involved in a contravention Limitations period Relief from liability History and explanatory materials Texts and literature [7.1041J] Annotation to section 1041J [Current to June 2021] Key principles [7.1041K] Division applies to certain conduct to the exclusion of State Fair Trading Acts provisions — Annotations to section 1041K [Current to June 2021] Key principles History and explanatory materials Division 2 — The prohibited conduct (other than insider trading prohibitions) [ss 1041A–1041K] [7.1041A] Market manipulation — Annotations to section 1041A [Current to July 2022] Key principles Scope of prohibition Concept of "artificial price" Stabilising conduct Penalty Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1041B] False trading and market rigging — creating a false or misleading appearance of active trading — Annotations to section 1041B [Current to July 2022] Key principles Scope of prohibition Wash sales and matched orders Penalties Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1041C] False trading and market rigging — artificially maintaining trading price — Annotations to section 1041C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1041D] Dissemination of information about illegal transactions — Annotations to section 1041D [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1041E] False or misleading statements — Annotations to section 1041E [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1041F] Inducing persons to deal using false or misleading information — Annotations to section 1041F [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1041G] Dishonest conduct — Annotations to section 1041G [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1041H] Misleading or deceptive conduct — Annotations to section 1041H [Current to July 2022] Key principles Scope of section When conduct is misleading or deceptive Non-disclosures Definitions and cross-references History and explanatory materials Texts and literature [7.1041I] Civil action for loss or damages resulting from contravention of sections 1041E–1041H — Annotations to section 1041I [Current to July 2022] Key principles Scope of section Person involved in a contravention Limitations period Relief from liability History and explanatory materials Texts and literature [7.1041J] Annotation to section 1041J [Current to July 2022] Key principles [7.1041K] Division applies to certain conduct to the exclusion of State Fair Trading Acts provisions — Annotations to section 1041K [Current to July 2022] Key principles History and explanatory materials Division 2A — Proportionate liability for misleading and deceptive conduct [ss 1041L–1041S] [7.1041L] Application of Division — Annotations to sections 1041L–1041S [Current to June 2021] Key principles History and explanatory materials Texts and literature Division 2A — Proportionate liability for misleading and deceptive conduct [ss 1041L–1041S] [7.1041L] Application of Division — Annotations to sections 1041L–1041S [Current to July 2022] Key principles History and explanatory materials Texts and literature Division 3 — The insider trading prohibitions [ss 1042A–1043O] [7.1042A] Definitions — Annotations to section 1042A [Current to June 2021] "Division 3 financial products" Key principles History and explanatory materials Instruments and class orders Texts and literature "information" Key principles History and explanatory materials Texts and literature "inside information" Key principles [7.1042B] Application of Division — Annotations to section 1042B [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1042C] When information is generally available — Annotations to section 1042C [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1042D] Material effect in price or value of Division 3 financial products — Annotations to section 1042D [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1042E] Division 3 financial products are "able to be traded" despite suspension — Annotations to section 1042E [Current to June 2021] History and explanatory materials [7.1042F] Definition of procuring — Annotations to section 1042F [Current to June 2021] History and explanatory materials [7.1042G] Information in possession of officer of body corporate — Annotations to section 1042G [Current to June 2021] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1042H] Information in possession of partner or employee of partnership — Annotations to section 1042H [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1043A] Prohibited conduct by person in possession of inside information — Annotations to section 1043A [Current to June 2021] Key principles Scope of the prohibition Trading prohibition Procuring prohibition Tipping prohibition Penalties Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1043B] Exception for withdrawal from registered scheme — Annotations to section 1043B [Current to June 2021] History and explanatory materials Texts and literature [7.1043C] Exception for underwriters — Annotations to section 1043C [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1043D] Acquisition pursuant to legal requirement — Annotations to section 1043D [Current to June 2021] History and explanatory materials Texts and literature [7.1043E] Information communicated pursuant to a legal requirement — Annotations to section 1043E [Current to June 2021] History and explanatory materials [7.1043F] Chinese wall arrangements by bodies corporate — Annotations to section 1043F [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1043G] Chinese wall arrangements by partnerships — Annotations to section 1043G [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1043H] Own intentions exception — Annotations to section 1043H [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1043I] Own intentions exception for bodies corporate — Annotations to section 1043I [Current to June 2021] Key principles History and explanatory material Texts and literature [7.1043J] Own intentions exception for officers or agents of body corporate — Annotations to section 1043J [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1043K] Transactions by licensees and their representatives — Annotations to section 1043K [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1043L] Specific situation in which compensation order under s 1317HA can be made — Annotations to section 1043L [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1043M] Defences to prosecution for an insider trading offence — Annotations to section 1043M [Current to June 2021] Key principles History and explanatory materials Texts and literature [7.1043N] Relief from civil penalty liability — Annotations to section 1043N [Current to June 2021] Key principles Texts and literature [7.1043O] Powers of Court — Annotations to section 1043O [Current to June 2021] History and explanatory materials Texts and literature Division 3 — The insider trading prohibitions [ss 1042A–1043O] [7.1042A] Definitions — Annotations to section 1042A [Current to July 2022] "Division 3 financial products" Key principles History and explanatory materials Instruments and class orders Texts and literature "information" Key principles History and explanatory materials Texts and literature "inside information" Key principles [7.1042B] Application of Division — Annotations to section 1042B [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1042C] When information is generally available — Annotations to section 1042C [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1042D] Material effect in price or value of Division 3 financial products — Annotations to section 1042D [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1042E] Division 3 financial products are "able to be traded" despite suspension — Annotations to section 1042E [Current to July 2022] History and explanatory materials [7.1042F] Definition of procuring — Annotations to section 1042F [Current to July 2022] History and explanatory materials [7.1042G] Information in possession of officer of body corporate — Annotations to section 1042G [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1042H] Information in possession of partner or employee of partnership — Annotations to section 1042H [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1043A] Prohibited conduct by person in possession of inside information — Annotations to section 1043A [Current to July 2022] Key principles Scope of the prohibition Trading prohibition Procuring prohibition Tipping prohibition Penalties Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [7.1043B] Exception for withdrawal from registered scheme — Annotations to section 1043B [Current to July 2022] Definitions and cross-references History and explanatory materials Texts and literature [7.1043C] Exception for underwriters — Annotations to section 1043C [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1043D] Acquisition pursuant to legal requirement — Annotations to section 1043D [Current to July 2022] History and explanatory materials Texts and literature [7.1043E] Information communicated pursuant to a legal requirement — Annotations to section 1043E [Current to July 2022] History and explanatory materials [7.1043F] Chinese wall arrangements by bodies corporate — Annotations to section 1043F [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1043G] Chinese wall arrangements by partnerships — Annotations to section 1043G [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1043H] Own intentions exception — Annotations to section 1043H [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1043I] Own intentions exception for bodies corporate — Annotations to section 1043I [Current to July 2022] Key principles History and explanatory material Texts and literature [7.1043J] Own intentions exception for officers or agents of body corporate — Annotations to section 1043J [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1043K] Transactions by licensees and their representatives — Annotations to section 1043K [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1043L] Specific situation in which compensation order under s 1317HA can be made — Annotations to section 1043L [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1043M] Defences to prosecution for an insider trading offence — Annotations to section 1043M [Current to July 2022] Key principles History and explanatory materials Texts and literature [7.1043N] Relief from civil penalty liability — Annotations to section 1043N [Current to July 2022] Key principles Texts and literature [7.1043O] Powers of Court — Annotations to section 1043O [Current to July 2022] History and explanatory materials Texts and literature Part 7.10A — External dispute resolution [ss 1050–1058] Division 1 — Minister may authorise an external dispute resolution scheme [ss 1050–1051A] [7.1050] Authorisation of external dispute resolution scheme — Annotations to sections 1050–1051A [Current to July 2022] Key principles History and explanatory materials Division 2 — Regulating the AFCA scheme [ss 1052–1052E] [7.1052] Regulating the AFCA scheme — Annotations to sections 1052–1052E [Current to July 2022] Key principles History and explanatory materials Division 3 — Additional provisions relating to superannuation complaints [ss 1053–1058] [7.1053] Additional provisions relating to superannuation complaints — Annotations to sections 1053–1058 [Current to July 2022] Key principles History and explanatory materials Part 7.12 — Miscellaneous [ss 1100A–1101J] Division 1 — Qualified privilege [ss 1100A–1100D] [7.1100A] Qualified privilege for information given to ASIC — Annotations to sections 1100A–1100D [Current to July 2022] Key principles History and explanatory materials Texts and literature Division 2 — Other matters [ss 1101A–1101J] [7.1101A] Approved and mandatory codes of conduct — Annotations to sections 1101A–1101AF [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [7.1101B] Power of court to make certain orders — Annotations to section 1101B [Current to July 2022] Key principles Scope of section Power to grant injunction Other orders Power to declare contract to be void or voidable Appointment of receiver Admissibility of transcript of ASIC examination Definitions and cross-references History and explanatory materials Texts and literature [7.1101C] Provisions as to books and records maintained under Ch 7 — Annotations to sections 1101C–1101G [Current to July 2022] Key principles History and explanatory materials [7.1101H] Contravention of chapter does not generally affect validity of transaction — Annotations to section 1101H [Current to July 2022] Key principles [7.1101I] Application of gaming and wagering laws — Annotations to section 1101I [Current to July 2022] Key principles Section 1101I Definitions and cross-references Texts and literature Chapter 8 — Mutual Recognition of Securities Offers [ss 1200A–1200U] Chapter 8 — Mutual Recognition of Securities Offers [ss 1200A–1200U] [8.1200A] Recognised offers — Annotations to sections 1200A–1200E [Current to December 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [8.1200F] Effect of a recognised offer — Annotations to section 1200F [Current to December 2019] Key principles History and explanatory materials Instruments and class orders [8.1200G] Ongoing conditions for recognised offers — Annotations to sections 1200G–1200J [Current to December 2019] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders [8.1200K] Modification of provisions of the CA — Annotations to sections 1200K–1200M [Current to December 2019] Key principles History and explanatory materials Instruments and class orders [8.1200N] ASIC's powers in relation to recognised offers — Annotations to sections 1200N–1200Q [Current to December 2019] Key principles History and explanatory materials [8.1200R] Miscellaneous — Annotations to section 1200R [Current to December 2019] Key principles History and explanatory materials [8.1200S] Offers made under foreign recognition schemes — Annotations to sections 1200S–1200U [Current to December 2019] Key principles History and explanatory materials Chapter 8A — Asia Region Funds Passport [ss 1210–1217B] Chapter 8A — Asia Region Funds Passport: Chapter Overview Key principles Australian passport funds Foreign passport funds ASIC's role and powers A proposed new corporate structure: CCIVs Texts and literature Chapter 9 — Miscellaneous [ss 1272–1350] Part 9.1A — Director identification numbers [ss 1272–1272H] [9.1272] Director identification numbers — Annotations to sections 1272–1272H [Current to July 2022] Key principles Scope of Pt 9.1A History and explanatory materials Part 9.1 — Matters relating to handling records and information [ss 1273–1275] [9.1273] The Registrar — Annotations to sections 1270–1270T [Current to July 2022] Key principles History and explanatory materials [9.1274] Registers kept by ASIC — Annotations to sections 1274–1275 [Current to July 2022] Key principles Admissibility in evidence Other matters Use in court proceedings of information for ASIC's national database Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 9.2 — Registration of auditors [ss 1279–1298] Division 2 — Application for registration as auditor [ss 1279–1289] [9.1279] Application for registration as auditor or liquidator — Annotations to sections 1279–1289 [Current to July 2022] Key principles Purpose of Pt 9.2 Registration as auditor Fit and proper person Qualified privilege Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 2A — Conditions on registration of auditors [s 1289A] [9.1289A] ASIC may impose conditions on registration — Annotations to section 1289A [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 3 — Cancellation or suspension of registration [ss 1290–1298] [9.1290] Powers of Companies Auditors Disciplinary Board in relation to auditors — Annotations to sections 1290–1298 [Current to July 2022] Key principles Function of the Companies Auditors Disciplinary Board CADB's jurisdiction is protective not punitive Definitions and cross-references History and explanatory materials Texts and literature Division 4 — Validation of approval of auditing competency standard [ss 1298P–1298Q] [9.1298P] Validation of approval of auditing competency standard — Annotations to sections 1298P–1298Q Key principles History and explanatory materials Part 9.2A — Authorised audit companies [ss 1299A–1299M] Division 1 — Registration [ss 1299A–1299G] [9.1299A] Application for registration as authorised audit company — Annotations to sections 1299A–1299G [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature Division 2 — Cancellation or suspension of registration [ss 1299H–1299M] [9.1299H] Cancellation at request of registered person — Annotations to sections 1299H–1299M [Current to July 2022] Key principles Definitions and cross-references Texts and literature Part 9.3 — Books [ss 1300–1307] [9.1300] Books — Annotations to sections 1300–1307 [Current to July 2022] Key principles Order requiring books to be made available for inspection Admissibility of books in evidence Form and evidentiary value of books Falsification of books Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 9.4 — Offences [ss 1308A–1317] Division 1A — Application of the Criminal Code [s 1308A] [9.1308A] Application of Criminal Code — Annotations to section 1308A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 1 — Specific offences [ss 1308–1310] [9.1308] False or misleading statements about share capital and false or misleading documents — Annotations to sections 1308B–1308 [Current to July 2022] Key principles False or misleading statemnets or documents History and explanatory materials Texts and literature [9.1309] False information etc — Annotations to section 1309 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [9.1310] Obstructing or hindering ASIC etc — Annotations to section 1310 [Current to July 2022] History and explanatory materials Division 2 — Offences generally [ss 1311–1317] [9.1311] General penalty provisions — Annotations to sections 1311–1317 [Current to July 2022] Key principles Scope of sections Time for instituting criminal proceedings Privilege against self-incrimination Definitions and cross-references History and explanatory materials Texts and literature Part 9.4AAA — Protection of whistleblowers [ss 1317AA–1317AK] [9.1317AA] Disclosures qualifying for protection under Part 9.4AAA — Annotations to sections 1317AA–1317AK [Current to July 2022] Key principles Scope of Pt 9.4AAA When a disclosure qualifies for protection Preservation of confidentiality in discloser's identity Discloser's immunity from liability Prohibition on and remedies for victimising conduct Other provisions Requirement for whistleblower policy Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 9.4A — Review by Administrative Appeals Tribunal of certain decisions [s 1317B] [9.1317B] Applications for review — Annotations to section 1317B [Current to July 2022] Key principles Reviewable decisions Excluded decisions Definitions and cross-references Texts and literature Part 9.4AA — Infringement notices for alleged contraventions of continuous disclosure provisions [ss 1317DAA–1317DAV] [9.1317DAA] Definitions — Annotations to sections 1317DAA–1317DAV [Current to July 2022] Key principles Issue of infringement notice Penalties under an infringement notice Effect of complying or not complying with an infringement notice Publication in relation to infringement notices Infringement notices for other alleged contraventions Definitions and cross-references History and explanatory materials Texts and literature Part 9.4B — Civil consequences of contravening civil penalty provisions [ss 1317E–1317S] [9.1317E] Declarations of contravention — Annotations to section 1317E [Current to July 2022] Key principles Declaration of contravention Who may apply under this section Consent orders Imposition of penalty Definitions and cross-references History and explanatory materials Texts and literature [9.1317F] Declaration of contravention is conclusive evidence — Annotations to section 1317F [Current to July 2022] Key principles History and explanatory materials Texts and literature [9.1317G] Pecuniary penalty orders — Annotations to sections 1317G–1317GAD [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [9.1317GA] Refund orders — contravention of ss 962P and 962R–962S — Annotations to section 1317GA–1317GB [Current to July 2022] History and explanatory materials [9.1317H] Compensation orders — corporation/scheme civil penalty provisions — Annotations to section 1317H [Current to July 2022] Key principles Scope of compensation order Market-based causation Court's discretion as to compensation order Compensation order in proceedings brought by corporation Definitions and cross-references History and explanatory materials Texts and literature [9.1317HA] Compensation orders — financial services civil penalty provisions — Annotations to section 1317HA [Current to July 2022] Key principles Texts and literature [9.1317HB] Compensation orders — market integrity rules, client money reporting rules, financial benchmark rules and Passport Rules — Annotations to sections 1317HB, 1317HC and 1317HE [Current to July 2022] Key principles History and explanatory materials [9.1317J] Who may apply for declaration or order — Annotations to section 1317J [Current to July 2022] Key principles History and explanatory materials [9.1317K] Time limit for application for declaration or order — Annotations to section 1317K [Current to July 2022] Key principles [9.1317L] Civil evidence and procedure rules for declarations of contravention and civil penalty orders — Annotations to section 1317L [Current to July 2022] Key principles Application of rules of evidence and procedure for civil matters Privilege against self-incrimination Texts and literature [9.1317M] Civil proceedings after criminal proceedings — Annotations to section 1317M [Current to July 2022] Key principles Texts and literature [9.1317N] Criminal proceedings during civil proceedings — Annotations to section 1317N [Current to July 2022] Key principles Texts and literature [9.1317P] Criminal proceedings after civil proceedings — Annotations to section 1317P [Current to July 2022] Key principles History and explanatory materials Texts and literature [9.1317Q] Evidence given in proceedings for penalty not admissible in criminal proceedings and other matters — Annotations to sections 1317Q–1317QF [Current to July 2022] Key principles History and explanatory materials Texts and literature [9.1317R] ASIC requiring person to assist — Annotations to section 1317R [Current to July 2022] Key principles History and explanatory materials Texts and literature [9.1317S] Relief from liability for contravention of civil penalty provision — Annotations to section 1317S [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Part 9.5 — Powers of Courts [ss 1318–1327] [9.1318] Power to grant relief — Annotations to section 1318 [Current to July 2022] Key principles Scope of section Claims in which relief is available Requirement that person seeking relief acted honestly Other matters relevant to whether the court will grant relief Relief not available for future breach Application of s 1318 to insolvent trading History and explanatory materials Texts and literature [9.1319] Power of court to give directions with respect to meetings ordered by the court — Annotations to section 1319 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [9.1321] Appeals from decisions of receivers, liquidators etc — Annotations to former section 1321 [Current to July 2022] [9.1322] Irregularities — Annotations to section 1322 [Current to July 2022] Key principles Scope of the section Procedural irregularity Irregularity may not invalidate meeting Orders validating act, matter or thing or proceedings: s 1322(4)(a) Order rectifying a register: s 1322(4)(b) Order extending the time etc: s 1322(4)(d) Conditions for making orders under s 1322(4): s 1322(6) Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [9.1323] Power of court to prohibit payment or transfer of money, financial products or other property — Annotations to section 1323 [Current to July 2022] Key principles Purpose of orders under this section Standing to seek order under this section Scope of orders under this section Evidence required for application Appointment of receiver Scope of receiver's appointment Powers of receiver appointed under this section Remuneration of receiver Order freezing property Other orders Interim orders Whether order can be sought in pending proceeding Costs of application History and explanatory materials Texts and literature [9.1324] Injunctions — Annotations to section 1324 [Current to July 2022] Key principles Standing When injunction will be granted Position of third parties Interim injunction Reversal of onus of proof Power to order damages Admissibility of transcript of ASIC examination History and explanatory materials Texts and literature [9.1324A] Provisions relating to prosecutions — Annotations to section 1324A [Current to July 2022] History and explanatory materials [9.1324B] Order to disclose information or publish advertisements — Annotations to section 1324B [Current to July 2022] Key principles History and explanatory materials [9.1325] Other orders — Annotations to section 1325 [Current to July 2022] Key principles History and explanatory materials Texts and literature [9.1325A] Orders if contravention of Chapter 6, 6A, 6B or 6C — Annotations to section 1325A [Current to July 2022] Key principles Scope of section Vesting orders Definitions and cross-references History and explanatory materials Texts and literature [9.1325B] Court may order bidder to make offers — Annotations to section 1325B [Current to July 2022] Key principles History and explanatory materials Texts and literature [9.1325C] Unfair or unconscionable agreements, payments or benefits — Annotations to section 1325C [Current to July 2022] Key principles History and explanatory materials Texts and literature [9.1325D] Contravention due to inadvertence etc — Annotations to section 1325D [Current to July 2022] Key principles Definitions and cross-references Texts and literature [9.1325E] Orders to secure compliance — Annotations to section 1325E [Current to July 2022] Key principles [9.1326] Effect of sections 1323, 1324 and 1325 — Annotations to section 1326 Key principles [9.1327] Power of court to punish for contempt of court — Annotations to section 1327 [Current to July 2022] Key principles Definitions and cross-references Texts and literature Part 9.6 — Proceedings [ss 1330–1336] [9.1330] ASIC's power to intervene in proceedings — Annotations to section 1330 [Current to July 2022] Key principles History and explanatory materials Texts and literature [9.1331] Civil proceedings not to be stayed — Annotations to section 1331 [Current to July 2022] Key principles History and explanatory materials Texts and literature [9.1332] Standard of proof — Annotations to section 1332 [Current to July 2022] Key principles History and explanatory materials [9.1333] Evidence of contravention — Annotations to section 1333 [Current to July 2022] History and explanatory materials [9.1335] Costs — Annotations to section 1335 [Current to July 2022] Key principles Basis for security Matters relevant to order for security for costs Relevance of other persons who could provide security Security for costs of cross-claims Orders for security for costs against liquidators Security for costs of appeal Form of security Definitions and cross-references History and explanatory materials Texts and literature [9.1336] Vesting of property — Annotations to section 1336 [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Part 9.6A — Jurisdiction and procedure of courts [ss 1337A–1338B] Division 1 — Civil jurisdiction [ss 1337A–1337L] [9.1337A] Operation of Division — Annotations to section 1337A [Current to July 2022] Key principles [9.1337B] Jurisdiction of Federal Court and State and Territory Supreme Courts — Annotations to section 1337B [Current to July 2022] Key principles Jurisdiction as to civil matters Jurisdiction as to administrative law matters Definitions and cross-references History and explanatory materials Texts and literature [9.1337E] Jurisdiction of lower courts — Annotations to section 1337E [Current to July 2022] Key principles Definitions and cross-references Texts and literature [9.1337H] Transfer of proceedings by the Federal Court and State and Territory Supreme Courts — Annotations to section 1337H [Current to July 2022] Key principles Transfer of proceedings to another court Court retains discretion whether to transfer proceedings History and explanatory materials Texts and literature [9.1337J] Transfer of proceedings by Family Court and State Family Courts — Annotations to section 1337J [Current to July 2022] Key principles [9.1337K] Transfer of proceedings in lower courts — Annotations to section 1337K [Current to July 2022] Key principles [9.1337L] Further matters for a court to consider when deciding whether to transfer a proceeding — Annotations to section 1337L [Current to July 2022] Key principles History and explanatory materials Division 2 — Criminal jurisdiction [s 1338B] [9.1338B] Jurisdiction of courts — Annotations to section 1338B [Current to July 2022] Key principles Texts and literature Part 9.7 — Unclaimed property [ss 1339–1343A] [9.1339] ASIC to deal with unclaimed property — Annotations to sections 1339–1343A [Current to July 2022] History and explanatory materials Texts and literature Part 9.9 — Miscellaneous [ss 1346–1362A] [9.1346] Non-application of rule against perpetuities to certain schemes — Annotations to section 1346 [Current to July 2022] Key principles History and explanatory materials [9.1349] Privilege against exposure to penalty — disqualification etc — Annotations to section 1349 [Current to July 2022] Key principles History and explanatory materials [9.1350] Compensation for compulsory acquisition — Annotations to section 1350 [Current to July 2022] Key principles Constitutional background Scope of this section History and explanatory materials Texts and literature [9.1362A] Coronavirus provisions — Annotations to section 1362A [Current to July 2022] Key principles Chapter 10 — Transitional Provisions [ss 1370–1635] Part 10.1 — Transition from the old corporations legislation [ss 1370-1409] Division 1 — Preliminary [ss 1370–1409] [10.1370] Object of Part 10.1, definitions and other preliminary matters — Annotations to sections 1370–1409 [Current to May 2022] Key principles Object of the Part Definitions and cross-references History and explanatory materials Texts and literature Division 2 — Carrying over registration of companies [ss 1377–1378] [10.1377] Existing registered companies continue to be registered — Annotations to sections 1377–1378 [Current to May 2022] Division 3 — Carrying over the old Corporations Regulations [ss 1379–1380] [10.1379] Old Corporations Regulations continue to have effect — Annotations to sections 1379–1380 [Current to May 2022] Division 4 — Court proceedings and orders [ss 1381–1385] [10.1381] Treatment of Court proceedings and orders — Annotations to sections 1381–1385 [Current to May 2022] Division 5 — Other specific transitional provisions [ss 1386–1396] [10.1386] Other matters — Annotations to sections 1386–1396 [Current to May 2022] Division 6 — General transitional provisions relating to other things done etc under the old Corporations legislation [ss 1397–1408] [10.1397] Other matters — Annotations to sections 1397–1408 [Current to May 2022] Key principles Creation of corresponding rights and liabilities Definitions and cross-references Division 7— Regulations dealing with transitional matters [s 1409] [10.1409] Regulations — Annotations to sections 1409 [Current to May 2022] Part 10.2 — Transitional provisions relating to the Financial Services Reform Act 2001 [ss 1410–1445] [10.1410] Transitional provisions relating to the Financial Services Reform Act 2001 — Annotations to sections 1410–1445 [Current to May 2022] Key principles Instruments and class orders Part 10.3 — Transitional provisions relating to the Corporations Legislation Amendment Act 2003 [ss 1447–1448] [10.1447] Transitional provisions relating to the Corporations Legislation Amendment Act 2003 — Annotations to sections 1447–1448 [Current to May 2022] Key principles Part 10.4 — Transitional provisions relating to the Financial Services Reform Amendment Act 2003 [ss 1449–1452] [10.1449] Transitional provisions relating to the Financial Services Reform Amendment Act 2003 — Annotations to sections 1449–1452 [Current to May 2022] Key principles History and explanatory materials Part 10.5 — Transitional provisions relating to the Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 [ss 1453–1471] [10.1453] Transitional provisions relating to the Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 — Annotations to sections 1453–1471 [Current to May 2022] Key principles Instruments and class orders Part 10.8 — Transitional provisions relating to the Corporations Amendment (Takeovers) Act 2007 [s 1478] [10.1478] Transitional provisions relating to the Corporations Amendment (Takeovers) Act 2007 — Annotations to section 1478 [Current to May 2022] Key principles History and explanatory materials Part 10.9 — Transitional provisions relating to the Corporations Amendment (Insolvency) Act 2007 [ss 1479–1483] [10.1479] Transitional provisions relating to the Corporations Amendment (Insolvency) Act 2007 — Annotations to sections 1479–1483 [Current to May 2022] Key principles History and explanatory materials Part 10.10 — Transitional provisions relating to the Corporations Amendment (Short Selling) Act 2008 [s 1484] [10.1484] Transitional provisions relating to the Corporations Amendment (Short Selling) Act 2008 — Annotations to section 1484 [Current to May 2022] Key principles History and explanatory materials Part 10.11 — Transitional provisions relating to the Corporations Amendment (No 1) Act 2009 [ss 1485–1486] [10.1485] Transitional provisions relating to the Corporations Amendment (No 1) Act 2009 — Annotations to sections 1485–1486 [Current to May 2022] Key principles History and explanatory materials Part 10.12 — Transitional provisions relating to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 [ss 1487–1498] [10.1487] Transitional provisions relating to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 — Annotations to sections 1487–1498 [Current to May 2022] Key principles History and explanatory materials Part 10.13 — Transitional provisions relating to the Personal Property Securities (Corporations and Other Amendments) Act 2010 [ss 1499–1510] [10.1499] Transitional provisions relating to the Personal Property Securities (Corporations and Other Amendments) Act 2010 — Annotations to sections 1499–1510 [Current to May 2022] Key principles History and explanatory materials Part 10.14 — Transitional provisions relating to the Corporations Amendment (Corporate Reporting Reform) Act 2010 [ss 1510A–1510B] [10.1510A] Transitional provisions relating to the Corporations Amendment (Corporate Reporting Reform) Act 2010 — Annotations to sections 1510A–1510B [Current to May 2022] Key principles History and explanatory materials Part 10.15 — Transitional provisions relating to the Corporations Amendment (Financial Markets Supervision) Act 2010 [ss 1511–1513] [10.1511] Transitional provisions relating to the Corporations Amendment (Financial Markets Supervision) Act 2010 — Annotations to sections 1511–1513 [Current to May 2022] Key principles History and explanatory materials Part 10.16 — Transitional provisions relating to the Corporations Amendment (No 1) Act 2010 [s 1516] [10.1516] Transitional provisions relating to the Corporations Amendment (No 1) Act 2010 — Annotations to section 1516 [Current to May 2022] Key principles Part 10.17 — Transitional provisions relating to the Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Act 2011 [ss 1517–1525] [10.1517] Transitional provisions relating to the Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Act 2011 — Annotations to sections 1517–1525 [Current to May 2022] Key principles History and explanatory materials Part 10.18 — Transitional provisions relating to the Corporations Amendment (Further Future of Financial Advice Measures) Act 2012 [ss 1526–1531E] [10.1527] Transitional provisions relating to the Future of Financial Advice Measures-- Annotations to sections 1526-1531E [Current to May 2022] Key principles History and explanatory materials Part 10.19 — Transitional provisions relating to the Corporations Amendment (Phoenixing and Other Measures) Act 2012 [ss 1533–1535] [10.1533] Transitional provisions relating to the Corporations Amendment (Phoenixing and Other Measures) Act 2012 — Annotations to sections 1533–1535 [Current to May 2022] Key principles Part 10.20 — Transitional provisions relating to the Corporations Legislation Amendment (Audit Enhancement) Act 2012 [s 1537] [10.1537] Transitional provisions relating to the Corporations Legislation Amendment (Audit Enhancement) Act 2012 — Annotations to section 1537 [Current to May 2022] Key principles Part 10.21 — Transitional provisions relating to the Corporations Legislation Amendment (Financial Reporting Panel) Act 2012 [s 1538] [10.1538] Part 10.21 Transitional provisions relating to the Corporations Legislation Amendment (Financial Reporting Panel) Act 2012 — Annotations to section 1538 [Current to May 2022] Key principles [10.1538A] Part 10.21A Transitional provisions relating to the Superannuation Legislation Amendment (Service Providers and other Governance Measures) Act 2013 — Annotations to sections 1538A–1538B [Current to May 2022] Key principles Part 10.22 — Transitional provisions relating to the Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012 [ss 1539–1540] [10.1539] Transitional provisions relating to the Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012 — Annotations to sections 1539–1540 [Current to May 2022] Key principles Part 10.22A — Transitional provisions relating to the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No 1) Act 2019 [s 1541A] [10.1541A] Transitional provisions relating to the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No 1) Act 2019 — Annotations to section 1541A [Current to May 2022] Key principles Part 10.23 — Transitional provisions relating to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 [ss 1542–1546] [10.1542] Transitional provisions relating to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 — Annotations to sections 1542–1546 [Current to May 2022] Key principles Part 10.23A — Transitional provisions relating to the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 [ss 1546A–1546ZB] [10.1546A] Transitional provisions relating to the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 — Annotations to sections 1546A–1546ZB [Current to May 2022] Key principles Part 10.24 — Transitional provisions relating to the Corporations Legislation Amendment (Deregulatory and Other Measures) Act 2014 [ss 1547–1549] [10.1548] Transitional provisions relating to the Corporations Legislation Amendment (Deregulatory and Other Measures) Act 2014 — Annotations to sections 1547–1549 [Current to May 2022] Key principles Part 10.24A — Transitional provisions relating to the Corporations Amendment (Life Insurance Remuneration Arrangements) Act 2017 [ss 1549A–1549B] [10.1549A] Transitional provisions relating to the Corporations Amendment (Life Insurance Remuneration Arrangements) Act 2017 — Annotations to sections 1549A–1549B [Current to May 2022] Key principles Part 10.25 — Transitional provisions relating to the Insolvency Practice Schedule (Corporations) [ss 1550–1634] [10.1549] Transitional provisions relating to the Insolvency Practice Schedule (Corporations) — Annotations to sections 1550–1634 [Current to May 2022] Key principles Division 2 — Registration of liquidators, annual returns and statements, notice requirements, cancellation by ASIC under the old Act (as defined), disciplinary proceedings before the Corporations Auditors and Liquidators Disciplinary Board; disciplinary proceedings under the Insolvency Practice Schedule (Corporations); and powers of the court and other bodies Disciplinary proceedings under the Insolvency Practice Schedule (Corporations) Powers of the Court and other bodies Division 3 — Application of Act to new, ongoing and old external administrations General transitional rules and remuneration and other benefits Funds handling Information requirements Meetings Committees of inspection Reviews of external administration Divisions 4–5 Transitional arrangements as to AAT proceedings and consequential amendments Voting at creditors' meetings Controllers' returns and accounts, transfer of books to new controller and reporting to controller Liquidators appointed by the court Meeting relating to voluntary winding up Pooling determinations Electronic notices and deregistration Power to make regulations Part 10.26 — Transitional provisions relating to Schedule 3 [s 1635] [10.1550] Transitional provisions relating to Sch 3 — Annotations to section 1635 Key principles Part 10.28 — Transitional provisions relating to the Treasury Laws Amendment (2016 Measures No 1) Act 2017 [ss 1636A–1637] [10.1636A] Transitional provisions relating to the Treasury Laws Amendment (2016 Measures No 1) Act 2017 — Annotations to sections 1636A–1637 [Current to May 2022] Key principles Part 10.30 — Transitional provisions relating to the Treasury Laws Amendment (2017 Measures No 5) Act 2018 [ss 1639–1642] [10.1639] Transitional provisions relating to the Treasury Laws Amendment (2017 Measures No 5) Act 2018 — Annotations to sections 1639–1642 Key principles Part 10.31 — Transitional provisions relating to the Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Act 2018 [s 1643] [10.1643] Transitional provisions relating to the Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Act 2018 — Annotations to section 1643 Key principles Part 10.32 — Transitional provisions relating to the Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019 [ss 1644–1644A] [10.1644] Transitional provisions relating to the Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019 — Annotations to sections 1644–1644A [Current to May 2022] Key principles Part 10.33 — Transitional provisions relating to the Corporations Amendment (Asia Region Funds Passport) Act 2018 [items 1 and 2] [10.1644AA] Transitional provisions relating to the Corporations Amendment (Asia Region Funds Passport) Act 2018 Key principles Part 10.34 — Transitional provisions relating to the Corporations Amendment (Strengthening Protections for Employee Entitlements) Act 2019 [ss 1647–1649] [10.1647] Transitional provisions relating to the Corporations Amendment (Strengthening Protections for Employee Entitlements) Act 2019 — Annotations to sections 1647–1649 Key principles Part 10.35A — Transitional provisions relating to Schedule 2 to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 [s 1653] [10.1653] Transitional provisions relating to Schedule 2 to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 — Annotations to section 1653 [Current to May 2022] Key principles Part 10.36 — Application and transitional provisions relating to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 [ss 1655–1660] [10.1655] Application and Transitional provisions relating to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 — Annotations to sections 1655–1660 Key principles Part 10.37 — Transitional provisions relating to the Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 [s 1661] [10.1661] Transitional provisions relating to the Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 — Annotations to section 1661 Key principles Part 10.38 — Transitional provisions relating to Schedule 1 to the Treasury Laws Amendment (Mutual Reforms) Act 2019 [s 1662] [10.1662] Transitional provisions relating to the Treasury Laws Amendment (Mutual Reforms) Act 2019 — Annotations to section 1662 Key principles Part 10.39 — Transitional provisions relating to Schedule 3 to the Financial Sector Reform (Hayne Royal Commission Response—Stronger Regulators (2019 Measures)) Act 2020 [ss 1663–1665] [10.1664] Transitional provisions relating to Schedule 3 to the Financial Sector Reform (Hayne Royal Commission Response — Stronger Regulators (2019 Measures)) Act 2020 — Annotations to sections 1663–1665 Key principles Part 10.40 — Transitional provisions relating to Schedule 4 to the Financial Sector Reform (Hayne Royal Commission Response — Stronger Regulators (2019 Measures)) Act 2020 [10.1666] Transitional provisions relating to Schedule 4 to the Financial Sector Reform (Hayne Royal Commission Response — Stronger Regulators (2019 Measures)) Act 2020 — Annotations to sections 1666–1667 [Current to May 2022] Key principles Part 10.41 — Transitional provisions relating to the Treasury Laws Amendment (2019 Measures No 3) Act 2020 [10.1668] Transitional provisions relating to the Treasury Laws Amendment (2019 Measures No 3) Act 2020 — Annotations to section 1668 [Current to May 2022] Key principles Part 10.42 — Transitional provisions relating to the Coronavirus Economic Response Package Omnibus Act 2020 [10.1669] Transitional provisions relating to the Coronavirus Economic Response Package Omnibus Act 2020 — Annotations to section 1669 [Current to May 2022] Key principles Parts 10.43–10.45 — Transitional provisions relating to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020 [10.1670] Transitional provisions relating to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020 — Annotations to sections 1670–1672 [Current to May 2022] Key principles Parts 10.46–10.49 Application and transitional provisions relating to Schedules 1, 2, 7 and 9 to the Financial Sector Reform (Hayne Royal Commission Response No 2) Act 2020 [10.1673] Application and transitional provisions relating to Schedules 1, 2, 7 and 9 to the Financial Sector Reform (Hayne Royal Commission Response No 2) Act 2020 — Annotations to sections 1673–1676D [Current to May 2022] Key principles Part 10.51 — Transitional provisions relating to the Territories Legislation Amendment Act 2020 [10.1678] Transitional provisions relating to the Territories Legislation Amendment Act 2020 — Annotations to sections 1678–1678F [Current to May 2022] Key principles Part 10.52 — Application and transitional provisions relating to Schedule 1 to the Treasury Laws Amendment (2021 Measures No 1) Act 2021 [10.1679] Application and transitional provisions relating to Schedule 1 to the Treasury Laws Amendment (2021 Measures No 1) Act 2021 — Annotations to sections 1679–1679F [Current to May 2022] Key principles Parts 10.53–10.54 — Application and transitional provisions relating to meetings and communications and the simplified liquidation process under the Corporations Amendment (Corporate Insolvency Reforms) Act 2020 [10.1680] Application and transitional provisions relating to meetings and communications and the simplified liquidation process under the Corporations Amendment (Corporate Insolvency Reforms) Act 2020 — Annotations to sections 1680–1681 [Current to May 2022] Key principles Part 10.55 — Transitional provisions relating to Treasury Laws Amendment (Your Future, Your Super) Act 2021 [10.1682] Transitional provisions relating to Treasury Laws Amendment (Your Future, Your Super) Act 2021 — Annotations to section 1682 [Current to May 2022] Key principles Part 10.56 — Application and transitional provisions relating to the Treasury Laws Amendment (2021 Measures No 1) Act 2021 [10.1683] Application and transitional provisions relating to Treasury Laws Amendment (2021 Measures No 1) Act 2021 — Annotations to sections 1683–1683C [Current to May 2022] Key principles Part 10.57 — Transitional provisions relating to the Financial Sector Reform (Hayne Royal Commission Response — Better Advice) Act 2021 [10.1684] Transitional provisions relating to the Financial Sector Reform (Hayne Royal Commission Response — Better Advice) Act 2021 — Annotations to sections 1684–1684V [Current to May 2022] Key principles Part 10.59 — Application provisions relating to the Treasury Laws Amendment (2021 Measures No 5) Act 2021 [10.1686] Application provisions relating to the Treasury Laws Amendment (2021 Measures No 5) Act 2021 — Annotations to sections 1686A–1684E [Current to May 2022] Key principles Part 10.60 — Application provisions relating to Corporations Amendment (Meetings and Documents) Act 2022 [10.1687] Application provisions relating to Corporations Amendment (Meetings and Documents) Act 2022 — Annotations to sections 1687–1687K [Current to May 2022] Key principles Part 10.62 — Application and transitional provisions relating to Sch 8 to the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022 [10.1689] Schedule 8 to the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022 — Annotations to sections 1689–1692 [Current to May 2022] Key principles Commentary on key provisions in the Insolvency Practice Schedule (Corporations) [IPSC.0] Background to the Insolvency Practice Schedule (Corporations) Key principles Texts and literature [IPSC.1] Division 1 — Objects of the Insolvency Practice Schedule (Corporations) Key principles [IPSC.5] Division 5 — When a company is under external administration Key principles [IPSC.20] Division 20 — Registration of liquidators Key principles History and explanatory material Texts and literature [IPSC.25] Division 25 — Insurance requirements in respect of liquidators Key principles History and explanatory material Texts and literature [IPSC.30] Divisions 30 and 35 — Annual returns Key principles Texts and literature [IPSC.40] Division 40 — Disciplinary and other actions Key principles History and explanatory materials Texts and literature [IPSC.45] Division 45 — Court's powers as to registered liquidators Key principles [IPSC.50] Division 50 — Committees Key principles [IPSC.60] Division 60 — General rules — remuneration Key principles Court's review of external administrator's remuneration Court's determination of external administrator's remuneration Legal professional privilege Loss of right to remuneration Effect of defect in liquidator's or provisional liquidator's appointment Liquidator's equitable lien Treatment of trust assets Position as to charged assets Prohibition on receipt of other profit or advantage Texts and literature [IPSC.65] Division 65 — Funds handling by external administrators Key principles Texts and literature [IPSC.70] Division 70 — Record-keeping and provision of information by external administrators Key principles Texts and literature [IPSC.75] Division 75 — When external administrator must convene meeting Key principles Texts and literature [IPSC.80] Division 80 — Committees of inspection Key principles Texts and literature [IPSC.85] Division 85 — Obligation to have regard to directions given by creditors Key principles [IPSC.90] Division 90 — Inquiries into external administration [Current to July 2022] Key principles Inquiry into an external administration Orders that may be made by the court Who may apply for an order under s 90-15 Directions to administrators and liquidators Appeal against decision as to proof of debt Directions as to funding agreements Court may have regard to wishes of creditors or contributories Appointment of registered liquidator to review administration Replacement of external administrator by creditors Texts and literature [IPSC.100] Division 100 — Assignments of cause of action Key principles Texts and literature Schedules Australian Securities and Investments Commission Act 2001 Part 1 — Preliminary [ss 1–6] Division 1 — Objects [s 1] [ASICA.1] Objects — Annotations to section 1 [Current to July 2022] Key principles History and explanatory materials Texts and literature Division 3 — Commencement and application [ss 2–4A] [ASICA.4] Application of ASIC Act — Annotations to section 4 [Current to July 2022] Key principles Definitions and cross-references Instruments and class orders [ASICA.4A] Application of the Criminal Code — Annotations to section 4A [Current to July 2022] Key principles History and explanatory materials Division 4 — Interpretation [ss 5–6] [ASICA.5] Interpretation — Annotations to section 5 [Current to July 2022] Key principles [ASICA.5A] Application of the Acts Interpretation Act 2001 — Annotations to section 5A [Current to July 2022] Key principles Definitions and cross-references [ASICA.6] Giving information — Annotations to section 6 [Current to July 2022] Key principles History and explanatory materials Part 2 — Australian Securities and Investments Commission and consumer protection in relation to financial services [ss 8–12HD] Division 1 — Australian Securities and Investments Commission [ss 8–12A] [ASICA.8] ASIC's structure — Annotations to sections 8–10A [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.11] ASIC's functions and powers — Annotations to section 11 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.12] Minister's power to give directions — Annotations to section 12 [Current to July 2022] Key principles History and explanatory materials [ASICA.12A] ASIC's functions and powers in relation to other legislation — Annotations to sections 12A–12AA [Current to July 2022] Key principles History and explanatory materials Division 2 — Unconscionable conduct and consumer protection in relation to financial services [ss 12AC–12HD] Subdivision A — Application [ss 12AC–12AE] [ASICA.12AC] Application — Annotations to sections 12AC–12AE [Current to July 2022] Key principles History and explanatory materials Texts and literature Subdivision B — Interpretation [ss 12BA–12BEA] [ASICA.12BAA] Definition of "financial product" — Annotations to section 12BAA [Current to July 2022] Key principles History and explanatory materials Instruments and class orders [ASICA.12BAB] Definition of "financial service" — Annotations to section 12BAB [Current to July 2022] Key principles History and explanatory materials Instruments and class orders Texts and literature [ASICA.12BB] Misleading representations — Annotations to section 12BB [Current to July 2022] Key principles Definitions and cross-references Texts and literature [ASICA.12BC] Definition of consumers — Annotations to section 12BC [Current to July 2022] Key principles History and explanatory materials Subdivision BA — Unfair and prohibited contract terms [ss 12BF–12BM] [ASICA.12BF] Unfair terms of consumer contracts — Annotations to section 12BF [Current to July 2022] Key principles When a term is void Concept of consumer contract Transitional provisions Definitions and cross-references History and explanatory materials Texts and literature [ASICA.12BG] Meaning of unfair — Annotations to section 12BG [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12BH] Examples of unfair terms — Annotations to section 12BH [Current to July 2022] Key principles History and explanatory materials [ASICA.12BI] Terms that define main subject matter of consumer contracts etc are unaffected — Annotations to section 12BI [Current to July 2022] Key principles History and explanatory materials [ASICA.12BK] Standard form contracts — Annotations to section 12BK [Current to July 2022] Key principles History and explanatory materials Subdivision C — Unconscionable conduct [ss 12CA–12CC] [ASICA.12CA] Unconscionable conduct within the meaning of the unwritten law of the States and Territories — Annotations to section 12CA [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.12CB] Unconscionable conduct — Annotations to sections 12CB–12CC [Current to July 2022] Key principles Scope of the prohibition When conduct is unconscionable for the purposes of the section Definitions and cross-references History and explanatory materials Texts and literature Subdivision D — Consumer protection [ss 12DA–12DN] [ASICA.12DA] Misleading or deceptive conduct — Annotations to section 12DA [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.12DB] False or misleading representations — Annotations to section 12DB [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12DC] False representations and other misleading or offensive conduct in relation to financial products that involve interests in land — Annotations to section 12DC [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12DD] Cash price to be stated in certain circumstances — Annotations to section 12DD [Current to July 2022] Key principles History and explanatory materials [ASICA.12DE] Offering prizes and gifts — Annotations to section 12DE [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12DF] Certain misleading conduct in relation to financial services — Annotations to section 12DF [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.12DG] Bait advertising — Annotations to section 12DG [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12DH] Referral selling — Annotations to section 12DH [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12DI] Accepting payment without intending or being able to supply as ordered — Annotations to section 12DI [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12DJ] Harassment and coercion — Annotations to section 12DJ [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12DK] Pyramid selling of financial products — Annotations to section 12DK [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12DL] Unsolicited credit cards and debit cards — Annotations to section 12DL [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12DM] Assertion of right to payment for unsolicited financial services and unauthorised advertisements — Annotations to sections 12DM–12DMB [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.12DMC] Caps on commissions for add-on risk products supplied in connection with motor vehicles — Annotations to section 12DMC Key principles History and explanatory materials [ASICA.12DN] Application of provisions to prescribed information providers — Annotations to section 12DN [Current to July 2022] Key principles History and explanatory materials Texts and literature Subdivision DA — Deferred sales for add-on insurance products [ss 12DO–12DZA] [ASICA.12DO] Deferred sales for add-on insurance products — Annotations to sections 12DO–12DZA [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Subdivision E — Conditions and warranties in consumer transactions [ss 12EA–12ED] [ASICA.12EA] Conflict of laws — Annotations to section 12EA [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12EB] Avoidance of excluding provisions — Annotations to section 12EB [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12EC] Limitation of liability for breach of certain conditions or warranties — Annotations to section 12EC [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12ED] Warranties in relation to the supply of financial services — Annotations to section 12ED [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Subdivision G — Enforcement and remedies [ss 12GA–12GO] [ASICA.12GB] Offences against Subdivision D — Annotations to section 12GB [Current to July 2022] Key principles Scope of section Knowingly concerned in a contravention History and explanatory materials Texts and literature [ASICA.12GBA] Pecuniary penalties — Annotations to section 12GBA [Current to July 2022] Key principles History and explanatory materials [ASICA.12GBB] Pecuniary penalties and offences — Annotations to section 12GBB [Current to July 2022] Key principles History and explanatory materials [ASICA.12GBC] Civil action for recovery of pecuniary penalties — Annotations to section 12GBC [Current to July 2022] Key principles History and explanatory materials [ASICA.12GBD] Indemnification of officers — Annotations to section 12GBD [Current to July 2022] Key principles History and explanatory materials [ASICA.12GC] Provisions relating to penalties — Annotations to sections 12GC–12GCA [Current to July 2022] Key provisions History and explanatory materials [ASICA.12GD] Injunctions — Annotations to section 12GD [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12GF] Actions for damages — Annotations to section 12GF [Current to July 2022] Key principles Principles of causation and quantification Person involved in a contravention Proportionate liability History and explanatory materials Texts and literature [ASICA.12GFA] Recovering commissions that exceed a cap under s 12DMC — Annotations to section 12GFA [Current to July 2022] Key principles History and explanatory materials [ASICA.12GG] Finding in proceeding to be evidence — Annotations to section 12GG [Current to July 2022] History and explanatory materials [ASICA.12GH] Conduct by directors, employees or agents — Annotations to section 12GH [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12GI] Defence — Annotations to section 12GI [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12GJ] Jurisdiction of courts and transfer of matters — Annotations to sections 12GJ–12GL [Current to July 2022] Key principles History and explanatory materials [ASICA.12GLA] Non-punitive orders — Annotations to section 12GLA [Current to July 2022] Key principles History and explanatory material Texts and literature [ASICA.12GLB] Punitive orders requiring adverse publicity — Annotations to section 12GLB [Current to July 2022] Key principles History and explanatory material Texts and literature [ASICA.12GLC] ASIC may issue public warning notices — Annotations to section 12GLC [Current to July 2022] Key principles History and explanatory materials [ASICA.12GLD] Order disqualifying a person from managing corporations — Annotations to section 12GLD [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [ASICA.12GM] Other orders — Annotations to section 12GM [Current to July 2022] Key principles Scope of section Order against person involved in a contravention History and explanatory materials Texts and literature [ASICA.12GN] Power of court to prohibit payment of money or transfer of money or other property — Annotations to section 12GN [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12GNA] Limits on liability for misleading or deceptive conduct — Annotations to section 12GNA [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12GNB] Orders to redress loss suffered by non-party consumers — Annotations to section 12GNB [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [ASICA.12GNC] Kinds of orders that may be made — Annotations to section 12GNC [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [ASICA.12GND] Declarations — Annotations to section 12GND [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12GO] Intervention by ASIC — Annotations to section 12GO [Current to July 2022] Key principles History and explanatory materials Texts and literature Subdivision GA — Proportionate liability for misleading and deceptive conduct [ss 12GP–12GW] [ASICA.12GP] Proportionate liability for misleading and deceptive conduct — Annotations to sections 12GP–12GW [Current to July 2022] Key principles History and explanatory materials Texts and literature Subdivision GB — Infringement notices [ss 12GX–12GXG] [ASICA.12GX] Infringement notices — Annotations to sections 12GX–12GXG [Current to July 2022] Key principles History and explanatory materials Subdivision GC — Substantiation notices [ss 12GY–12GYC] [ASICA.12GY] ASIC may require claims to be substantiated — Annotations to sections 12GY–12GYC [Current to July 2022] Key principles History and explanatory materials Subdivision H — Miscellaneous [ss 12HA–12HD] [ASICA.12HB] Disclosure of documents by ASIC — Annotations to section 12HB [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.12HC] Prosecutions — Annotations to section 12HC [Current to July 2022] Key principles Texts and literature [ASICA.12HD] Jurisdiction of court to make declarations and orders — Annotations to section 12HD [Current to July 2022] Key principles Definitions and cross-references Texts and literature Part 3 — Investigations and information-gathering [ss 13–93AA] Division 1 — Investigations [ss 13–18] [ASICA.13] General powers of investigation — Annotations to section 13 [Current to July 2022] Key principles Scope of Part 3 Scope of section Reason to suspect a contravention Stay of investigation No requirement to notify target of investigation or give reasons Procedural fairness in investigation Bias in investigation Definitions and cross-references History and explanatory materials Texts and literature [ASICA.14] Other circumstances in which ASIC can undertake investigation — Annotations to sections 14–15 [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.16] Reports on investigations — Annotations to sections 16–18 [Current to July 2022] Key principles Interim report Final report Distribution of report Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Division 2 — Examinations of persons [ss 19–27] [ASICA.19] Notice requiring appearance for examination — Annotations to section 19 [Current to July 2022] Key principles ASIC's power to conduct oral examinations Matters to be specified in notice Reasonable assistance Exercise of powers under this section after proceedings have commenced Admissibility of statements made at an examination under this section Claim to legal professional privilege Provision of copy of transcript to Director of Public Prosecutions Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [ASICA.20] Proceedings at examination — Annotations to sections 20–22 [Current to July 2022] Key principles Definitions and cross-references History and explanatory material Texts and literature [ASICA.23] Examinee's lawyer may attend — Annotations to section 23 [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.24] Record of examination — Annotations to section 24 [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.25] Giving to other persons copies of record — Annotations to sections 25–26 [Current to July 2022] Key principles Release of record of examination and related books to a lawyer Release of record of examination and related books to other persons Production of documents under subpoena Offence not to comply with conditions Definitions and cross-references History and explanatory materials Texts and literature [ASICA.27] Record to accompany report — Annotations to section 27 [Current to July 2022] Key principles History and explanatory materials Division 3 — Inspection of books and audit-information gathering powers [ss 28–39B] [ASICA.28] When certain powers may be exercised — Annotations to section 28 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.29] ASIC may inspect specified books without charge — Annotations to section 29 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.30] Notice to produce books about affairs of body corporate or registered scheme — Annotations to section 30 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [ASICA.30A] Notice to auditors concerning information and books — Annotations to section 30A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.30B] Notice to registered liquidators concerning information and books — Annotations to section 30B [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials [ASICA.31] Notice to produce books about financial products — Annotations to section 31 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders [ASICA.32A] Notice to produce books about financial services — Annotations to section 32A [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders [ASICA.33] Notice to produce documents in person's possession — Annotations to section 33 [Current to July 2022] Key principles Scope of section Documents relating to audit and liquidator requirements Masking of information Issue of notice for improper purpose Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature [ASICA.34] ASIC may authorise persons to require production of books, giving of information etc — Annotations to section 34 [Current to July 2022] History and explanatory materials [ASICA.37] Powers where books produced or seized — Annotations to section 37 [Current to July 2022] Key principles ASIC's powers under this section Inspection of books Requirement to provide explanation History and explanatory materials Texts and literature [ASICA.38] Other matters — Annotations to sections 38–39I [Current to July 2022] Key principles History and explanatory materials Division 4 — Requirements to disclose information about financial products [ss 40–48] [ASICA.40] Requirements to disclose information about financial products — Annotations to sections 40–48 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 5 — Proceedings after an investigation [ss 49–50] [ASICA.49] ASIC may cause prosecution to be begun — Annotations to section 49 [Current to July 2022] Key principles Commencement of prosecution Requirement to give reasonable assistance in a prosecution Definitions and cross-references History and explanatory materials Texts and literature [ASICA.50] ASIC may cause civil proceeding to be begun — Annotations to section 50 [Current to July 2022] Key principles Scope of section Consent to commencement of proceedings Review of decision to commence proceedings History and explanatory materials Texts and literature Division 5A — Audit deficiencies [ss 50A–50E] [ASICA.50A] Audit deficiencies — Annotations to sections 50A–50E [Current to July 2022] Key principles History and explanatory materials Division 6 — Hearings [ss 51–62] [ASICA.51] Power to hold hearings — Annotations to section 51 [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.52] Whether hearing is held in public or private — Annotations to sections 52–56 [Current to July 2022] Key principles History and explanatory materials [ASICA.57] Involvement of persons entitled to appear at hearing — Annotations to s 57 [Current to July 2022] Key principles History and explanatory materials [ASICA.58] Power to summon witnesses and take evidence — Annotations to s 58 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders [ASICA.59] Proceedings at hearings — Annotations to s 59 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.60] Other matters relating to hearings — Annotations to ss 60–62 [Current to July 2022] Key principles History and explanatory materials Division 7 — Offences [ss 63–70] [ASICA.63] Non-compliance with requirements made under Part 3 — Annotations to section 63 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.64] False information — Annotations to section 64 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.65] Other offences — Annotations to sections 65–67 [Current to July 2022] Key principles Definitions and cross references History and explanatory materials Texts and literature [ASICA.68] Self-incrimination — Annotations to section 68 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.69] Legal professional privilege — Annotations to section 69 [Current to July 2022] Key principles Position of legal practitioners Legal professional privilege generally Whether a person can decline to produce books within the scope of a notice under Part 3 Div 3 on the basis that those documents are subject to legal professional privilege History and explanatory materials Texts and literature [ASICA.70] Powers of court where non-compliance with Part 3 — Annotations to section 70 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 8 — ASIC's powers where non-compliance with Part 3 [ss 71–75] [ASICA.71] ASIC's powers where non-compliance with Part 3 — Annotations to sections 71-75 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature Division 9 — Evidentiary use of certain material [ss 76–83] [ASICA.76] Evidentiary use of certain material — Annotations to sections 76–83 [Current to July 2022] Key principles Statement in examination admissible against examinee Statement in examination admissible in proceedings against third parties Objections to admission of statements made at examination Admission of reports of ASIC investigation Evidence which is otherwise admissible Definitions and cross-references History and explanatory materials Texts and literature Division 10 — Miscellaneous [ss 84–93AA] [ASICA.84] Miscellaneous matters — Annotations to sections 84–87 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.88] Application of Crimes Act and Evidence Act — Annotations to section 88 [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.89] Expenses of investigations — Annotations to sections 89–91 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Texts and literature [ASICA.92] Compliance with Pt 3 — Annotations to section 92 [Current to July 2022] Key principles History and explanatory materials Texts and literature [ASICA.93] Effect of Part 3 — Annotations to section 93 [Current to July 2022] Key principles History and explanatory materials [ASICA.93AA] Enforceable undertakings — Annotations to section 93AA [Current to July 2022] Key principles History and explanatory materials Texts and literature Part 3A — Enforceable undertakings in relation to registered schemes, notified foreign passport funds and the corporate director of a CCIV [ss 93A–93BA] [ASICA.93A] Undertakings by responsible entity, notified foreign passport funds and the corporate director of a CCIV — Annotations to sections 93A–93B [Current to July 2022] Key principles Texts and literature Part 3B — Criminal Penalties [ss 93C–93H] [ASICA.93C] Criminal Penalties — Annotations to sections 93C–93H [Current to July 2022] Key principles Part 4 — ASIC's business [ss 94–107] [ASICA.94] ASIC's business — Annotations to sections 94–107B [Current to July 2022] Key principles History and explanatory materials Texts and literature Part 5 — ASIC's members [ss 108–119A] [ASICA.108] ASIC's members — Annotations to sections 108–122C [Current to July 2022] Key principles History and explanatory materials Part 6 — ASIC's staff [ss 120–122A] [ASICA.120] ASIC's staff — Annotations to sections 120–122 [Current to July 2022] Key principles Part 6A — Giving information etc to APRA [ss 122B–122E] [ASICA.122B] Giving information etc to APRA — Annotations to sections 122B–122E [Current to July 2022] Key principles Part 7 — Preventing conflicts of interest and misuse of information [ss 123–127] [ASICA.123] Disclosure of interests — Annotations to sections 123–126C [Current to July 2022] Key principles History and explanatory materials [ASICA.127] Confidentiality — Annotations to section 127 [Current to July 2022] Key principles Scope of section Authorised disclosures Production of documents under subpoena Public interest immunity Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 8 — Finance and reporting requirements [ss 136–138] [ASICA.136] Finance and reporting requirements — Annotations to sections 136–137 [Current to July 2022] Key principles History and explanatory materials Part 9 — Financial Services and Credit Panels [ss 139–171F] [ASICA.139] Financial Services and Credit Panels — Annotations to sections 139–171F [Current to July 2022] Key principles History and explanatory materials Part 10 — The Takeovers Panel [ss 172–201A] [ASICA.172] The Takeovers Panel — Annotations to sections 172–201A [Current to July 2022] Key principles Membership and functions Conduct of Panel's business Conduct of proceedings before the Panel Constitutional validity of the Panel Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 11 — Companies Auditors Disciplinary Board [ss 203–223] [ASICA.203] Companies Auditors Disciplinary Board — Annotations to sections 203–223 [Current to July 2022] Key principles Definitions and cross-references History and explanatory materials Instruments and class orders Texts and literature Part 12 — The Australian financial reporting system [ss 224–237] [ASICA.224] The Australian Financial Reporting System — Annotations to sections 224–237 [Current to July 2022] Key principles History and explanatory material Texts and literature Part 14 — Parliamentary Joint Committee on Corporations and Financial Services [ss 241–243] [ASICA.241] Parliamentary Joint Committee on Corporations and Financial Services — Annotations to sections 241–243 [Current to July 2022] Key principles Part 15 — Miscellaneous [ss 243B–251] [ASICA.243B] Miscellaneous — Annotations to sections 243B–243F [Current to July 2022] Key principles History and explanatory materials [ASICA.243D] Financial Transaction Reports — Annotations to section 243D [Current to July 2022] History and explanatory materials [ASICA.244] Review by Administrative Appeals Tribunal — Annotations to sections 244–244A [Current to July 2022] Key principles Definitions and cross-references Texts and literature [ASICA.246] Liability for damages — Annotations to section 246 [Current to July 2022] Key principles Definitions and cross-references Harmonised Corporations Rules Harmonised Corporations Rules. Division 1 — Preliminary [rr 1.1–1.10] [CR.1.1] Application of these Rules and other rules of the Court — Annotations to rules 1.1–1.10 [Current to September 2019] Key principles Commencement Application of the Rules Other matters Division 2 — Proceedings generally [rr 2.1–2.15] [CR.2.2] Originating process and interlocutory process — Forms 2 and 3 — Annotations to rule 2.2 [Current to September 2019] Key principles Texts and literature [CR.2.4] Supporting affidavits — Annotations to rule 2.4 [Current to September 2019] Key principles [CR.2.4A] Application for order setting aside statutory demand (Corporations Act s 459G) — Annotations to rule 2.4A [Current to September 2019] Key principles Filing and service of application Identification of grounds of application to set aside statutory demand No power to extend period for service Texts and literature [CR.2.5] Affidavits made by creditors — Annotations to rule 2.5 [Current to September 2019] Key principles [CR.2.6] Form of affidavits — Annotations to rule 2.6 [Current to September 2019] Key principles [CR.2.7] Service of originating process or interlocutory process and supporting affidavit — Annotations to rule 2.7 [Current to September 2019] Key principles [CR.2.8] Notice of certain applications to be given to ASIC — Annotations to rule 2.8 [Current to September 2019] Key principles [CR.2.9] Notice of appearance (Corporations Act s 465C) — Form 4 — Annotations to rule 2.9 [Current to September 2019] Key principles [CR.2.10] Intervention in proceedings by ASIC (Corporations Act s 1330) — Form 5 — Annotations to rule 2.10 [Current to September 2019] Key principles [CR.2.12] Proof of publication — Annotations to rule 2.12 [Current to September 2019] Key principles Definitions and cross-references Texts and literature [CR.2.13] Leave to creditor, contributory or officer to be heard — Annotations to rule 2.13 [Current to September 2019] Key principles Leave to be heard without becoming a party to proceedings Orders for costs Joinder as defendant Power to appoint creditor or contributory as representative [CR.2.15] Meetings ordered by the court — Annotations to rule 2.15 [Current to September 2019] Key principles Division 3 — Compromises and arrangements in relation to Part 5.1 bodies [rr 3.1–3.5] [CR.3.1] Application of Division 3 — Annotations to rules 3.1–3.5 [Current to September 2019] Key principles Division 4 — Receivers and other controllers of corporation property (Corporations Act Part 5.2) [r 4.1] [CR.4.1] Inquiry into the conduct of a controller (Corporations Act s 423) — Annotations to rule 4.1 [Current to September 2019] Key principles Texts and literature [CR.4.2] Order for inquiry in relation to a registered liquidator or the external administration of a company [Current to September 2019] Division 5 — Winding up proceedings (including oppression proceedings where winding up is sought) [rr 5.1–5.11] [CR.5.1] Application of Division 5 — Annotations to rule 5.1 [Current to September 2019] Key principles [CR.5.2] Affidavit accompanying statutory demand (Corporations Act s 459E(3)) — Form 7 — Annotations to rule 5.2 [Current to September 2019] Key principles Scope of rule Requirements as to content of affidavit accompanying statutory demand When affidavit should be sworn Substantial compliance is sufficient Texts and literature [CR.5.3] Application for leave to apply for winding up in insolvency (Corporations Act s 459P(2)) — Form 7 — Annotations to rule 5.3 [Current to September 2019] Key principles [CR.5.4] Affidavit in support of application for winding up (Corporations Act s 459P, s 462, s 464) — Annotations to rule 5.4 [Current to September 2019] Key principles Affidavit in support of winding up application Failure to comply with statutory demand Application under s 461(1)(a) Power to dispense with service Texts and literature [CR.5.5] Consent of liquidator (Corporations Act s 532(9)) — Form 8 — Annotations to rule 5.5 [Current to September 2019] Key principles [CR.5.6] Notice of application for winding up — Form 9 — Annotations to rule 5.6 [Current to September 2019] Key principles Texts and literature [CR.5.8] Other rules relating to winding up — Annotations to rules 5.8–5.11 [Current to September 2019] Key principles Instruments and class orders Texts and literature Division 6 — Provisional liquidators (Corporations Act Part 5.4B) [rr 6.1–6.2] [CR.6.1] Appointment of provisional liquidator (Corporations Act s 472) — Annotations to rules 6.1–6.2 [Current to September 2019] Key principles When a provisional liquidator can be appointed Undertaking as to damages Notice of appointment Texts and literature Division 7 — Liquidators [rr 7.2–7.11] [CR.7.2] Filling vacancy in office of liquidator (Corporations Act s 473A, 499(3), Insolvency Practice Schedule (Corporations) s 90-15) — Annotations to rule 7.2 [Current to September 2019] Key principles Texts and literature [CR.7.3] Report to liquidator as to company's affairs (Corporations Act s 475) — Annotations to rule 7.3 [Current to September 2019] Key principles Report as to affairs Costs and expenses of preparing the report Texts and literature [CR.7.4] Liquidator to file certificate and copy of settled list of contributories (Corporations Act s 478) — Annotations to rule 7.4 [Current to September 2019] Key principles Texts and literature [CR.7.5] Release of liquidator, deregistration of company and other matters — Annotations to rules 7.5–7.8 [Current to September 2019] Key principles Requirements for application for release Effect of order for liquidator's release Objection to liquidator's release Auditor's report on liquidator's accounts Application for payment of call Definitions and cross-references Texts and literature [CR.7.9] Distribution of surplus with special leave of the court (Corporations Act s 488(2) — Form 14 — Annotations to rule 7.9 [Current to September 2019] Key principles Texts and literature [CR.7.10] Powers delegated to liquidator by the court — Annotations to rule 7.10 [Current to September 2019] Key principles Texts and literature [CR.7.11] Appointment of reviewing liquidator (Insolvency Practice Schedule (Corporations) s 90-23(8)) — Annotations to rule 7.11 [Current to September 2019] Division 8 — Special managers (Corporations Act Part 5.4B) [rr 8.1–8.3] [CR.8.1] Application for appointment of special manager; security given by special manager and special manager's receipts and payments (Corporations Act s 484) — Annotations to rules 8.1–8.3 [Current to September 2019] Key principles Texts and literature Division 9 — Remuneration of office-holders [rr 9.1–9.5] [CR.9.1] Remuneration of receiver (Corporations Act s 425(1)) — Form 16 — Annotations to rule 9.1 [Current to September 2019] Key principles [CR.9.2] Remuneration of external administrator (Insolvency Practice Schedule (Corporations) s 60-10(1)(c) and (2)(b)) — Form 16 — Annotations to rule 9.2 [Current to September 2019] Key principles [CR.9.2A] Review of remuneration of external administrator (Insolvency Practice Schedule (Corporations) s 60-11(1)) — Annotations to rule 9.2A [Current to September 2019] Key principles [CR.9.3] Remuneration of provisional liquidator (Insolvency Practice Schedule (Corporations) s 60-16) — Form 16 — Annotations to rule 9.3 [Current to September 2019] Key principles [CR.9.5] Remuneration of special manager (Corporations Act s 484(2)) — Form 16 — Annotations to rule 9.5 [Current to September 2019] Key principles Texts and literature Division 10 — Winding up generally [rr 10.1–10.3] [CR.10.1] Determination of value of debts or claims (Corporations Act s 554A(2)) — Annotations to rule 10.1 [Current to September 2019] Key principles Texts and literature [CR.10.2] Disclaimer of contract (Corporations Act s 568(1A)) — Annotations to rule 10.2 [Current to September 2019] Key principles Texts and literature [CR.10.3] Winding up Part 5.7 bodies (Corporations Act s 583, s 585) and registered schemes (Corporations Act s 601ND) — Annotations to rule 10.3 [Current to September 2019] Key principles Division 11 — Examinations and orders (Corporations Act Part 5.9, Divisions 1 and 2) [rr 11.1–11.11] [CR.11.2] Application for examination or investigation under s 411(9)(b), s 423 or s 536(3) of the Corporations Act — Annotations to rule 11.2 [Current to September 2019] Key principles [CR.11.3] Application for examination summons (Corporations Act s 596A, s 596B) — Form 17 — Annotations to rule 11.3 [Current to September 2019] Key principles Texts and literature [CR.11.4] Service of examination summons — Annotations to rule 11.4 [Current to September 2019] Key principles Texts and literature [CR.11.5] Discharge of examination summons — Annotations to rule 11.5 [Current to September 2019] Key principles When an order for an examination order can be set aside Time limit for and service of application Application in nature of rehearing Access to affidavit in support of application for issue of examination summons under s 596B Texts and literature [CR.11.6] Provisions relating to records and transcripts of examination — Annotations to rules 11.6–11.9 [Current to September 2019] Key principles Texts and literature [CR.11.10] Default in relation to examination — Annotations to rule 11.10 [Current to September 2019] Key principles Issue of warrant Order for wasted costs Texts and literature [CR.11.11] Service of application for order in relation to breaches etc by person concerned with corporation (Corporations Act s 598) — Annotations to rule 11.11 [Current to September 2019] Key principles Division 11A — Warrants (Corporations Act s 486B and Part 5.4B Division 3 Subdivision B) [r 11A.1] [CR.11A.1] Arrest of person (Corporations Act s 486B) — Form 17A — Annotations to rules 12.1–12.3. [Current to September 2019] Key principles Division 12 — Takeovers, acquisitions of shares etc (Corporations Act Chapters 6 to 6D) and securities (Corporations Act Chapter 7) [rr 12.1–12.3] [CR.12.1] Rules relating to proceedings under Chapters 6–6D or 7 of the Corporations Act — Annotations to rules 12.1–12.3 [Current to September 2019] Key principles Division 14 — Powers of Courts (Corporations Act Part 9.5) [r 14.1] [CR.14.1] Appeal from act, omission or decision of administrator, receiver or liquidator etc (Corporations Act s 554A, s 1321) — Annotations to rule 14.1 [Current to September 2019] Key principles Texts and literature Division 15 — Proceedings under the ASIC Act [rr 15.1–15.3] [CR.15.1] Reference to court of question of law arising at hearing of Commission (ASIC Act s 61) — Annotations to rule 15.1 [Current to September 2019] Key principles [CR.15.3] Application for inquiry (ASIC Act s 70, s 201, s 219) — Annotations to rule 15.3 [Current to September 2019] Key principles Division 15A — Proceedings under the Cross-Border Insolvency Act [rr 15A.1–15A.9] [CR.15A.1] Application of this Division and expressions used — Annotations to rules 15A.1–15A.2 [Current to September 2019] Key principles [CR.15A.3] Application for recognition — Annotations to rule 15A.3 [Current to September 2019] Key principles When a foreign proceeding will be recognised Whether a proceeding is a foreign main proceeding Documents accompanying application Communications with foreign courts Definitions and cross-references Texts and literature [CR.15A.4] Application for provisional relief under article 19 of the Model Law — Annotations to rule 15A.4 [Current to September 2019] Key principles Definitions and cross-references Texts and literature [CR.15A.5] Other provisions — Annotations to rules 15A.5–15A.9 [Current to September 2019] Key principles Definitions and cross-references Texts and literature [CR.16.1] Divisions 16 and 17 [Current to September 2019] Key principles SECURITIES INDUSTRY AMENDMENT BILL 1980 SECURITIES INDUSTRY AMENDMENT BILL 1980 [SIA1980EM.1] INTRODUCTION [SIA1980EM.1.1] Formal Agreement [SIA1980EM.1.2] National Companies and Securities Commission Legislation [SIA1980EM.1.3] [SIA1980EM.1.4] [SIA1980EM.1.5] Australian code on the securities industry [SIA1980EM.1.6] [SIA1980EM.1.7] [SIA1980EM.1.8] [SIA1980EM.1.9] [SIA1980EM.1.10] [SIA1980EM.2] SECURITIES INDUSTRY AMENDMENT BILL 1980 Cl. 1: Short title etc. [SIA1980EM.2.11] Cl. 2: Commencement [SIA1980EM.2.12] Cl. 3 : Interpretation [SIA1980EM.2.13] Cl. 4: Relevant interests in securities [SIA1980EM.2.14] Cl. 5: Power of Commission to require production of books [SIA1980EM.2.15] [SIA1980EM.2.16] [SIA1980EM.2.17] Cl. 6: Power of magistrate to issue warrant to seize books [SIA1980EM.2.18] [SIA1980EM.2.19] [SIA1980EM.2.20] Cl. 7: Offences [SIA1980EM.2.21] Cl. 8: Copies or extracts of books to be admitted in evidence [SIA1980EM.2.22] Cl. 9: Privilege [SIA1980EM.2.23] Cl. 10: Disclosure to Commission [SIA1980EM.2.24] [SIA1980EM.2.25] [SIA1980EM.2.26] [SIA1980EM.2.27] [SIA1980EM.2.28] [SIA1980EM.2.29] [SIA1980EM.2.30] Cl. 11: Powers of inspectors [SIA1980EM.2.31] [SIA1980EM.2.32] Cl. 12: Record of examination [SIA1980EM.2.33] [SIA1980EM.2.34] [SIA1980EM.2.35] [SIA1980EM.2.36] Cl. 13: Admissibility in other proceedings of questions and answers at an examination [SIA1980EM.2.37] Cl. 14: Determination of objection to admissibility of question and answer [SIA1980EM.2.38] Cl. 15: Privileged communications [SIA1980EM.2.39] Cl. 16: Conditions to which licence is subject [SIA1980EM.2.40] Cl. 17: Penalties [SIA1980EM.2.41] Cl. 18: Power of Court to prohibit payment or transfer of moneys, securities or other property [SIA1980EM.2.42] Cl. 19: Regulations [SIA1980EM.2.43] SECURITIES INDUSTRY AMENDMENT BILL (NO. 2) 1980 SECURITIES INDUSTRY AMENDMENT BILL (NO. 2) 1980 [SIA21980EM.1] INTRODUCTION [SIA21980EM.1.1] [SIA21980EM.1.2] [SIA21980EM.1.3] [SIA21980EM.2] SECURITIES INDUSTRY AMENDMENT BILL (N0. 2) 1980 CL. 1 : Short title &c. [SIA21980EM.2.4] CL. 2 : Commencement [SIA21980EM.2.5] CL. 3 : Interpretation [SIA21980EM.2.6] CL. 4 : Disclosure to Commission [SIA21980EM.2.7] CL. 5 : Grant of dealers licence or investment advisers licence [SIA21980EM.2.8] CL. 6 : Dealings as principal [SIA21980EM.2.9] CL. 7 : Dealers' accounts [SIA21980EM.2.10] Cl. 8 : Deposits to be invested by stock exchange [SIA21980EM.2.11] CL. 9 : Investment of fund [SIA21980EM.2.12] CL. 10 : Prohibition of dealings in securities by insiders [SIA21980EM.2.13] CL. 11 : Compensation for loss &c. [SIA21980EM.2.14] FUTURES INDUSTRY AMENDMENT BILL 1986 FUTURES INDUSTRY AMENDMENT BILL 1986 INDEX OF CLAUSES ABBREVIATIONS [FIB86.1] OUTLINE [FIB86.1.1] [FIB86.1.2] [FIB86.1.3] Financial impact statement [FIB86.1.4] [FIB86.1.5] Rationale for proposed futures industry legislation [FIB86.1.6] [FIB86.1.7] Economic Functions of Futures Trading [FIB86.1.8] Overlap with SIA [FIB86.1.9] [FIB86.1.10] Outline of explanatory memorandum [FIB86.1.11] [FIB86.2] FUTURES INDUSTRY BILL 1986 ("THE BILL") Brief Outline of Main Proposals in Bill [FIB86.2.12] (a) Definition of "Futures Contract" (b) Licensing [FIB86.2.14] [FIB86.2.15] [FIB86.2.16] (c) Off-market trading/Anti-bucketing provision [FIB86.2.17] (d) Insider Dealing [FIB86.2.18] (e) Anti-fraud provision [FIB86.2.19] (f) Other provisions [FIB86.2.20] Contents of the Bill [FIB86.2.21] [FIB86.3] FUTURES INDUSTRY BILL: PART I: PRELIMINARY [FIB86.3.22] Cl. 1: Short title [FIB86.3.23] Cl. 2: Commencement [FIB86.3.24] Cl. 3: Object [FIB86.3.25] [FIB86.3.26] [FIB86.3.27] Interpretation Provision [FIB86.3.2] [FIB86.3.29] [FIB86.3.30] [FIB86.3.31] [FIB86.3.32] [FIB86.3.33] [FIB86.3.34] [FIB86.3.35] Cl. 6: Associated persons [FIB86.3.36] [FIB86.3.37] Cl. 7: Dealing in futures contracts [FIB86.3.38] [FIB86.3.39] [FIB86.3.40] Cl. 8: Dealings and transactions on a person's own account [FIB86.3.41] Cl. 9: Discretionary accounts [FIB86.3.42] Cl. 10: Exempt brokers [FIB86.3.43] Cl. 11: Certain persons not to be taken to be recognised licensees [FIB86.3.44] [FIB86.4] FUTURES INDUSTRY BILL: PART II: ADMINISTRATION [FIB86.4.45] Division 1 — General [FIB86.4.46] [FIB86.4.47] Cl. 12: Interpretation [FIB86.4.48] Cl. 13: Power of NCSC to require production of books [FIB86.4.49] [FIB86.4.50] Cl. 14: Power of magistrate to issue warrant to seize books [FIB86.4.51] [FIB86.4.52] Cl. 15: Offences [FIB86.4.53] [FIB86.4.54] Cl. 16: Copies or extracts to be admitted in evidence [FIB86.4.55] [FIB86.4.56] Cl. 17: Privilege [FIB86.4.57] Cl. 18: Disclosure to NCSC [FIB86.4.58] [FIB86.4.59] [FIB86.4.60] Cl. 19: Investigation of certain matters [FIB86.4.61] Cl. 20: Power of Court to make certain orders [FIB86.4.62] Division 2 — Investigations [FIB86.4.63] Cl. 21: Interpretation [FIB86.4.64] [FIB86.4.65] [FIB86.4.66] Cl. 22: Investigations [FIB86.4.67] [FIB86.4.68] [FIB86.4.69] Cl. 22: Investigations [FIB86.4.70] [FIB86.4.71] [FIB86.4.72] Cl. 24: Powers of NCSC and inspectors appointed under responding laws [FIB86.4.73] Cl. 25: Powers of inspectors [FIB86.4.74] [FIB86.4.75] [FIB86.4.76] [FIB86.4.77] [FIB86.4.78] [FIB86.4.79] [FIB86.4.80] [FIB86.4.81] [FIB86.4.82] [FIB86.4.83] Cl. 26: Investigation deemed to be a proceeding [FIB86.4.84] Cl. 27: Record of examination [FIB86.4.85] [FIB86.4.86] Cl. 28: Record to accompany report [FIB86.4.87] Cl. 29: Admissibility of record of examination in evidence in proceedings against person examined [FIB86.4.88] Cl. 30: Admissibility in other proceedings of statements made at an examination [FIB86.4.89] Cl. 31: Weight of evidence [FIB86.4.90] Cl. 32: Credibility of person who made statements [FIB86.4.91] Cl. 33: Determination of objection to admissibility of statements [FIB86.4.92] Cl. 34: Delegation by inspector [FIB86.4.93] Cl. 35: Reports of investigations [FIB86.4.94] Cl. 36: Report of inspector [FIB86.4.95] [FIB86.4.96] Cl. 37: NCSC' s powers in respect of books [FIB86.4.97] [FIB86.4.98] [FIB86.4.99] Cl. 38: Privileged communications [FIB86.4.100] Cl. 39: Expenses of investigation [FIB86.4.101] [FIB86.4.102] Cl. 40: Concealing, &c., of books relating to futures contracts [FIB86.4.103] [FIB86.4.104] Cl. 41: Power of NCSC to make certain orders [FIB86.4.105] [FIB86.4.106] [FIB86.4.107] Cl. 42: Certain powers not to be delegated [FIB86.4.108] Division 3 — Futures Consultative Committee [FIB86.4.109] [FIB86.4.110] Cl. 43: Constitution and functions of Futures Consultative Committee [FIB86.4.111] [FIB86.4.112] Cl. 44: Meetings of Futures Consultative Committee [FIB86.4.113] [FIB86.5] FUTURES INDUSTRY BILL: PART III: FUTURES EXCHANGES, CLEARING HOUSES AND FUTURES ASSOCIATIONS [FIB86.5.114] [FIB86.5.115] Cl. 45: Establishment of futures markets [FIB86.5.116] Cl. 46: Power of Ministerial Council to approve futures exchange [FIB86.5.117] [FIB86.5.118] Cl. 47: Provision of clearing house facilities [FIB86.5.119] Cl. 48: Power of Ministerial Council to approve clearing house [FIB86.5.120] Cl. 49: Publication of instruments executed under section 45, 46 or 48 [FIB86.5.121] Cl. 50: Power of Ministerial Council to approve futures association [FIB86.5.122] [FIB86.5.123] Cl. 51: Suspension or cancellation of approval [FIB86.5.124] [FIB86.5.125] Cl. 52: Notification of approval etc., of futures association [FIB86.5.126] Cl. 53: Appeal to the Court against certain decisions of futures exchange and futures associations [FIB86.5.127] [FIB86.5.128] [FIB86.5.129] [FIB86.5.130] [FIB86.5.131] [FIB86.5.132] [FIB86.5.133] Cl. 54: NCSC to be notified of amendments to business rules [FIB86.5.134] [FIB86.5.135] Cl. 55: Orderly markets in futures contracts — functions and powers of futures exchanges and clearing houses [FIB86.5.136] Cl. 56: Orderly markets in futures contracts — powers of the N CS C [FIB86.5.137] [FIB86.5.138] [FIB86.5.139] [FIB86.5.140] [FIB86.5.141] [FIB86.5.142] Cl. 57: Futures exchange's and others to assist NCSC [FIB86.5.143] Cl. 58: Power of Court to order observance or enforcement of business rules of futures exchange, clearing house or futures association [FIB86.5.144] Cl. 59: Effect of certain laws or certain agreements [FIB86.5.145] [FIB86.5.146] [FIB86.6] FUTURES INDUSTRY BILL: PART IV: LICENCES [FIB86.6.147] Cl. 60: Proclaimed day [FIB86.6.148] Cl. 61: Futures broker's licence [FIB86.6.149] [FIB86.6.150] Cl. 62: Futures broker's representatives [FIB86.6.151] Cl. 63: Futures advisers [FIB86.6.152] [FIB86.6.153] Cl. 64: Futures adviser's representatives [FIB86.6.154] [FIB86.6.155] Cl. 66: Grant of futures broker's licence or futures adviser's licence [FIB86.6.156] [FIB86.6.157] Cl. 67: Grant of representative's licence [FIB86.6.158] [FIB86.6.159] Cl. 68: Change of principals of representative [FIB86.6.160] Cl. 69: Conditions to which licence is subject [FIB86.6.161] [FIB86.6.162] [FIB86.6.163] [FIB86.6.164] Cl. 70: Holder of licence to notify prescribed bodies of each of condition or restriction applicable to licence [FIB86.6.165] Cl. 71: Furnishing of information and statements to NCSC [FIB86.6.166] Cl. 72: Register of Licence Holders [FIB86.6.167] Cl. 73: Notification of change in particulars [FIB86.6.168] Cl. 74: Annual statement to be lodged with the NCSC [FIB86.6.169] Cl. 75: Time for lodging annual statement [FIB86.6.170] Cl. 76: NCSC may extend period for lodging statement [FIB86.6.171] Cl. 77: Revocation and suspension of licences [FIB86.6.172] [FIB86.6.173] [FIB86.6.174] [FIB86.6.175] Cl. 78: Further provisions relating to revocation and suspension of licences [FIB86.6.176] [FIB86.6.177] Cl. 79: Holder of licence to be deemed not to be holder while licence suspended [FIB86.6.178] Cl. 80: Opportunity for hearing [FIB86.6.179] [FIB86.7] FUTURES INDUSTRY BILL: PART V: CONDUCT OF FUTURES BUSINESS [FIB86.7.180] Cl. 81: Certain representations prohibited [FIB86.7.181] Cl. 82: Undesirable advertising [FIB86.7.182] [FIB86.7.183] [FIB86.7.184] Cl. 83: Issue of contract notes [FIB86.7.185] [FIB86.7.186] [FIB86.7.187] [FIB86.7.188] [FIB86.7.189] [FIB86.7.190] Cl. 84: Futures broker to furnish monthly statement to client [FIB86.7.191] [FIB86.7.192] [FIB86.7.193] Cl. 85: Dealings by futures broker on own account [FIB86.7.194] [FIB86.7.195] [FIB86.7.196] [FIB86.7.197] [FIB86.7.198] [FIB86.7.199] Cl. 86: Segregation of client money and property [FIB86.7.200] [FIB86.7.201] [FIB86.7.202] [FIB86.7.203] [FIB86.7.204] [FIB86.7.205] [FIB86.7.206] [FIB86.7.207] [FIB86.7.208] [FIB86.7.209] [FIB86.7.210] [FIB86.7.211] [FIB86.7.212] [FIB86.7.213] [FIB86.7.214] Cl. 87: Futures broker to give certain information to prospective clients [FIB86.7.215] [FIB86.7.216] [FIB86.8] FUTURES INDUSTRY BILL: PART VI: ACCOUNTS AND AUDIT [FIB86.8.217] Cl. 88: Interpretation [FIB86.8.218] [FIB86.8.219] Cl. 89: Application of Part [FIB86.8.220] [FIB86.8.221] Cl. 90: Accounts to be kept by futures brokers [FIB86.8.222] Cl. 91: Property in custody of futures broker [FIB86.8.223] Cl. 92: Appointment of auditor by futures broker [FIB86.8.224] Cl. 93: Removal and resignation of auditors [FIB86.8.225] [FIB86.8.226] Cl. 94: Fees and expenses of auditors [FIB86.8.227] Cl. 95: Futures brokers' accounts [FIB86.8.228] Cl. 96: Auditor's right of access to records, information &c [FIB86.8.229] Cl. 97: Auditor to report to NCSC in certain cases [FIB86.8.230] Cl. 98: Certain matters to be reported to NCSC [FIB86.8.231] Cl. 99: Defamation [FIB86.8.232] Cl. 100: This part not to affect right of futures exchange or futures association to impose obligations, etc., on members [FIB86.8.233] Cl. 101: Power of Court to restrain dealings with futures broker's accounts [FIB86.8.234] [FIB86.8.235] [FIB86.8.236] Cl. 102: Duty of banker or body corporate to make full disclosure [FIB86.8.237] Cl. 103: Power of Court to make further orders and give directions [FIB86.8.238] Cl. 104: Power of Court to make order relating to payment of moneys [FIB86.8.239] [FIB86.8.240] [FIB86.9] FUTURES INDUSTRY BILL: PART VII: FIDELITY FUNDS [FIB86.9.241] [FIB86.9.242] Cl. 105: Interpretation [FIB86.9.243] Cl. 106: Establishment of fidelity funds [FIB86.9.244] Cl. 107: Money constituting fidelity fund [FIB86.9.245] [FIB86.9.246] [FIB86.9.247] Cl. 108: Fund to be kept in separate bank account [FIB86.9.248] Cl. 109: Payments out of fund [FIB86.9.249] Cl. 110: Accounts of fund [FIB86.9.250] Cl. 111: Management sub-committee [FIB86.9.251] [FIB86.9.252] Cl. 112: Contribution to fund [FIB86.9.253] [FIB86.9.254] Cl. 113: Levy in addition to annual contributions [FIB86.9.255] Cl. 114: Power of relevant organisation to make advances to fund [FIB86.9.256] Cl. 115: Investment of fund [FIB86.9.257] Cl. 116: Application of fund [FIB86.9.258] [FIB86.9.259] Cl. 117: Claims against the fund [FIB86.9.260] [FIB86.9.261] Cl. 118: Rights of innocent partner in relation to fund [FIB86.9.262] [FIB86.9.263] Cl. 119: Notice calling for claims against fund [FIB86.9.264] [FIB86.9.265] Cl. 120: Power of Board to settle claims [FIB86.9.266] [FIB86.9.267] Cl. 121: Form of order of Court establishing claim [FIB86.9.268] Cl. 122: Power of Board to require production of documents, &c. [FIB86.9.269] Cl. 123: Subrogation of relevant organisation to rights, &, of claimant on payment from fund [FIB86.9.270] Cl. 124: Payment of claims only from fund [FIB86.9.271] Cl. 125: Provisions where fund insufficient to meet claims or where claims exceed total amount payable [FIB86.9.272] Cl. 126: Power of relevant organisation to enter into contracts of insurance or indemnity [FIB86.9.273] [FIB86.9.274] Cl. 127: Application of insurance moneys [FIB86.9.275] [FIB86.10] FUTURES INDUSTRY BILL: PART VIII: OFFENCES Cl.128: Dealings by futures brokers on behalf of others [FIB86.10.276] [FIB86.10.277] [FIB86.10.278] [FIB86.10.279] Cl. 129: Prohibition of dealings by insiders in futures contracts relating to securities [FIB86.10.280] [FIB86.10.281] [FIB86.10.282] [FIB86.10.283] Cl. 130: Futures market manipulation [FIB86.10.285] [FIB86.10.285] Cl. 131: False trading and market rigging [FIB86.10.286] [FIB86.10.287] [FIB86.10.288] Cl. 132: False or misleading statements, &c. [FIB86.10.289] Cl. 133: Fraudulently inducing person to deal in futures contracts [FIB86.10.290] Cl. 134: Dissemination of information about illegal transactions [FIB86.10.291] Cl. 135: Fraud in connection with dealings in futures contracts [FIB86.10.292] [FIB86.10.293] Cl. 136: Penalties [FIB86.10.294] Cl. 137: Compensation for loss, &c. [FIB86.10.295] [FIB86.10.296] Cl. 138: Sequence of transmission and execution of orders [FIB86.10.297] [FIB86.10.298] [FIB86.10.299] [FIB86.10.300] [FIB86.10.301] [FIB86.10.302] [FIB86.10.303] Cl. 139: Dealings by employees of licence holders [FIB86.10.304] [FIB86.11] FUTURES INDUSTRY BILL: PART IX: MISCELLANEOUS Cl. 140: Restrictions on use of title "futures broker", "futures exchange", &c. [FIB86.11.305] [FIB86.11.306] Cl. 141: Appeal [FIB86.11.307] Cl. 142: False or misleading statements [FIB86.11.308] Cl. 143: Preservation and disposal of records, &c. [FIB86.11.309] [FIB86.11.310] C1. 144: Concealing, &c. of books relating to futures contracts [FIB86.11.311] Cl. 145: Falsification of records [FIB86.11.312] Cl. 146: Precautions against falsification of records [FIB86.11.313] Cl. 147: Obstructing or hindering NCSC, &c. [FIB86.11.314] Cl. 148: General penalty provisions [FIB86.11.315] [FIB86.11.316] Cl. 149: Penalty notices [FIB86.11.317] [FIB86.11.318] Cl. 150: Continuing offences [FIB86.11.319] [FIB86.11.320] [FIB86.11.321] [FIB86.11.322] [FIB86.11.323] [FIB86.11.324] [FIB86.11.325] Cl. 151: Offences by bodies corporate [FIB86.11.326] [FIB86.11.327] Cl. 152: Certain persons to assist in prosecutions [FIB86.11.328] [FIB86.11.329] Cl. 153: Reciprocity in relation to offences [FIB86.11.330] Cl. 154: Offences committed partly in and partly out of the Territory [FIB86.11.331] Cl. 155: Power of Court to prohibit payment or transfer of moneys, futures contracts or other property [FIB86.11.332] [FIB86.11.333] Cl. 156: Power of NCSC to intervene in proceedings [FIB86.11.334] [FIB86.11.335] Cl. 157: Injunctions [FIB86.11.336] [FIB86.11.337] Cl. 158: Power of Court to punish for contempt of Court [FIB86.11.338] Cl. 159: Rules of court [FIB86.11.339] Cl. 160: Regulations [FIB86.11.340] [FIB86.11.341] CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS [CORP1988.1] OUTLINE [CORP1988EM.1.1] [CORP1988EM.1.2] [CORP1988EM.1.3] [CORP1988EM.1.4] [CORP1988EM.1.5] [CORP1988EM.1.6] [CORP1988EM.1.7] [CORP1988EM.1.8] [CORP1988.2] BACKGROUND [CORP1988EM.2.9] [CORP1988EM.2.10] [CORP1988EM.2.11] [CORP1988EM.2.12] [CORP1988EM.2.13] [CORP1988EM.2.14] [CORP1988EM.2.15] [CORP1988EM.2.16] [CORP1988EM.2.17] [CORP1988EM.2.18] [CORP1988EM.2.19] [CORP1988EM.2.20] [CORP1988EM.2.21] [CORP1988EM.2.22] [CORP1988EM.2.23] [CORP1988EM.2.24] [CORP1988EM.2.25] [CORP1988EM.2.26] [CORP1988EM.2.27] [CORP1988EM.2.28] [CORP1988EM.2.29] [CORP1988EM.2.30] [CORP1988EM.2.31] [CORP1988EM.2.32] [CORP1988EM.2.33] [CORP1988EM.2.34] [CORP1988EM.2.35] [CORP1988EM.2.36] [CORP1988EM.2.37] [CORP1988EM.2.38] [CORP1988EM.2.39] [CORP1988EM.2.40] [CORP1988EM.2.41] [CORP1988EM.2.42] [CORP1988EM.2.43] [CORP1988EM.2.44] [CORP1988EM.2.45] [CORP1988EM.2.46] [CORP1988EM.2.47] [CORP1988.3] ABBREVIATIONS [CORP1988EM.3.48] [CORP1988.4] CONTENTS OF THE BILL [CORP1988EM.4.49] BILL CHAPTER 1 — INTRODUCTORY [CORP1988EM.4.50] CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS PART 1.1 — PRELIMINARY [CORP1988EM.4.51] [CORP1988EM.4.52] [CORP1988EM.4.53] [CORP1988EM.4.54] [CORP1988EM.4.55] [CORP1988EM.4.56] BILL PART 1.2 — INTERPRETATION [CORP1988EM.4.57] [CORP1988EM.4.58] [CORP1988EM.4.59] [CORP1988EM.4.60] [CORP1988EM.4.61] [CORP1988EM.4.62] [CORP1988EM.4.63] [CORP1988EM.4.64] [CORP1988EM.4.65] [CORP1988EM.4.66] [CORP1988EM.4.67] [CORP1988EM.4.68] [CORP1988EM.4.69] [CORP1988EM.4.70] [CORP1988EM.4.71] [CORP1988EM.4.72] [CORP1988EM.4.73] [CORP1988EM.4.74] [CORP1988EM.4.75] [CORP1988EM.4.76] [CORP1988EM.4.77] [CORP1988EM.4.78] [CORP1988EM.4.79] [CORP1988EM.4.80] [CORP1988EM.4.81] [CORP1988EM.4.82] [CORP1988EM.4.83] [CORP1988EM.4.84] [CORP1988EM.4.85] [CORP1988EM.4.86] [CORP1988EM.4.87] [CORP1988EM.4.88] [CORP1988EM.4.89] [CORP1988EM.4.90] [CORP1988EM.4.91] [CORP1988EM.4.92] [CORP1988EM.4.93] [CORP1988EM.4.94] [CORP1988EM.4.95] [CORP1988EM.4.96] [CORP1988EM.4.97] [CORP1988EM.4.98] [CORP1988EM.4.99] [CORP1988EM.4.100] [CORP1988EM.4.101] [CORP1988EM.4.102] [CORP1988EM.4.103] [CORP1988EM.4.104] [CORP1988EM.4.105] [CORP1988EM.4.106] [CORP1988EM.4.107] [CORP1988EM.4.108] [CORP1988EM.4.109] [CORP1988EM.4.110] [CORP1988EM.4.111] [CORP1988EM.4.112] [CORP1988EM.4.113] [CORP1988EM.4.114] [CORP1988EM.4.115] [CORP1988EM.4.116] [CORP1988EM.4.117] [CORP1988EM.4.118] [CORP1988EM.4.119] [CORP1988EM.4.120] [CORP1988EM.4.121] [CORP1988EM.4.122] [CORP1988EM.4.123] [CORP1988EM.4.124] [CORP1988EM.4.125] [CORP1988EM.4.126] [CORP1988EM.4.127] [CORP1988EM.4.128] [CORP1988EM.4.129] [CORP1988EM.4.130] [CORP1988EM.4.131] [CORP1988EM.4.132] [CORP1988EM.4.133] [CORP1988EM.4.134] [CORP1988EM.4.135] [CORP1988EM.4.136] [CORP1988EM.4.137] [CORP1988EM.4.138] [CORP1988EM.4.139] [CORP1988EM.4.140] [CORP1988EM.4.141] [CORP1988EM.4.142] [CORP1988EM.4.143] [CORP1988EM.4.144] [CORP1988EM.4.145] [CORP1988EM.4.146] [CORP1988EM.4.147] [CORP1988EM.4.148] [CORP1988EM.4.149] [CORP1988EM.4.150] [CORP1988EM.4.151] [CORP1988EM.4.152] [CORP1988EM.4.153] [CORP1988EM.4.154] [CORP1988EM.4.155] [CORP1988EM.4.156] [CORP1988EM.4.157] [CORP1988EM.4.158] [CORP1988EM.4.159] [CORP1988EM.4.160] [CORP1988EM.4.161] [CORP1988EM.4.162] [CORP1988EM.4.163] [CORP1988EM.4.164] [CORP1988EM.4.165] [CORP1988EM.4.166] [CORP1988EM.4.167] [CORP1988EM.4.168] [CORP1988EM.4.169] [CORP1988EM.4.170] [CORP1988EM.4.171] [CORP1988EM.4.172] [CORP1988EM.4.173] [CORP1988EM.4.174] [CORP1988EM.4.175] [CORP1988EM.4.176] [CORP1988EM.4.177] [CORP1988EM.4.178] [CORP1988EM.4.179] [CORP1988EM.4.180] [CORP1988EM.4.181] [CORP1988EM.4.182] [CORP1988EM.4.183] [CORP1988EM.4.184] [CORP1988EM.4.185] [CORP1988EM.4.186] [CORP1988EM.4.187] [CORP1988EM.4.188] [CORP1988EM.4.189] [CORP1988EM.4.190] [CORP1988EM.4.191] [CORP1988EM.4.192] [CORP1988EM.4.193] [CORP1988EM.4.194] [CORP1988EM.4.195] [CORP1988EM.4.196] [CORP1988EM.4.197] [CORP1988EM.4.198] [CORP1988EM.4.199] [CORP1988EM.4.200] [CORP1988EM.4.201] [CORP1988EM.4.202] [CORP1988EM.4.203] [CORP1988EM.4.204] [CORP1988EM.4.205] [CORP1988EM.4.206] [CORP1988EM.4.207] [CORP1988EM.4.208] [CORP1988EM.4.209] [CORP1988EM.4.210] [CORP1988EM.4.211] [CORP1988EM.4.212] [CORP1988EM.4.213] [CORP1988EM.4.214] [CORP1988EM.4.215] [CORP1988EM.4.216] [CORP1988EM.4.217] [CORP1988EM.4.218] [CORP1988EM.4.219] [CORP1988EM.4.220] [CORP1988EM.4.221] [CORP1988EM.4.222] [CORP1988EM.4.223] [CORP1988EM.4.224] [CORP1988EM.4.225] [CORP1988EM.4.226] [CORP1988EM.4.227] [CORP1988EM.4.228] [CORP1988EM.4.229] [CORP1988EM.4.230] [CORP1988EM.4.231] [CORP1988EM.4.232] [CORP1988EM.4.233] [CORP1988EM.4.234] [CORP1988EM.4.235] [CORP1988EM.4.236] [CORP1988EM.4.237] [CORP1988EM.4.238] [CORP1988EM.4.239] [CORP1988EM.4.240] [CORP1988EM.4.241] [CORP1988EM.4.242] [CORP1988EM.4.243] [CORP1988EM.4.244] [CORP1988EM.4.245] [CORP1988EM.4.246] [CORP1988EM.4.247] [CORP1988EM.4.248] [CORP1988EM.4.249] [CORP1988EM.4.250] [CORP1988EM.4.251] [CORP1988EM.4.252] [CORP1988EM.4.253] [CORP1988EM.4.254] [CORP1988EM.4.255] [CORP1988EM.4.256] [CORP1988EM.4.257] [CORP1988EM.4.258] [CORP1988EM.4.259] [CORP1988EM.4.260] [CORP1988EM.4.261] [CORP1988EM.4.262] [CORP1988EM.4.263] [CORP1988EM.4.264] [CORP1988EM.4.265] [CORP1988EM.4.266] [CORP1988EM.4.267] [CORP1988EM.4.268] [CORP1988EM.4.269] [CORP1988EM.4.270] [CORP1988EM.4.271] [CORP1988EM.4.272] [CORP1988EM.4.273] [CORP1988EM.4.274] [CORP1988EM.4.275] [CORP1988EM.4.276] [CORP1988EM.4.277] [CORP1988EM.4.278] [CORP1988EM.4.279] [CORP1988EM.4.280] [CORP1988EM.4.281] [CORP1988EM.4.282] [CORP1988EM.4.283] [CORP1988EM.4.284] [CORP1988EM.4.285] [CORP1988EM.4.286] [CORP1988EM.4.287] [CORP1988EM.4.288] [CORP1988EM.4.289] [CORP1988EM.4.290] [CORP1988EM.4.291] [CORP1988EM.4.292] [CORP1988EM.4.293] [CORP1988EM.4.294] [CORP1988EM.4.295] [CORP1988EM.4.296] [CORP1988EM.4.297] [CORP1988EM.4.298] [CORP1988EM.4.299] [CORP1988EM.4.300] [CORP1988EM.4.301] [CORP1988EM.4.302] [CORP1988EM.4.303] [CORP1988EM.4.304] [CORP1988EM.4.305] [CORP1988EM.4.306] [CORP1988EM.4.307] [CORP1988EM.4.308] [CORP1988EM.4.309] [CORP1988EM.4.310] [CORP1988EM.4.311] [CORP1988EM.4.312] [CORP1988EM.4.313] [CORP1988EM.4.314] [CORP1988EM.4.315] [CORP1988EM.4.316] [CORP1988EM.4.317] [CORP1988EM.4.318] [CORP1988EM.4.319] [CORP1988EM.4.320] [CORP1988EM.4.321] [CORP1988EM.4.322] [CORP1988EM.4.323] [CORP1988EM.4.324] [CORP1988EM.4.325] [CORP1988EM.4.326] [CORP1988EM.4.327] [CORP1988EM.4.328] [CORP1988EM.4.329] [CORP1988EM.4.330] [CORP1988EM.4.331] [CORP1988EM.4.332] [CORP1988EM.4.333] [CORP1988EM.4.334] [CORP1988EM.4.335] [CORP1988EM.4.336] [CORP1988EM.4.337] [CORP1988EM.4.338] [CORP1988EM.4.339] [CORP1988EM.4.340] [CORP1988EM.4.341] [CORP1988EM.4.342] [CORP1988EM.4.343] [CORP1988EM.4.344] [CORP1988EM.4.345] [CORP1988EM.4.346] [CORP1988EM.4.347] [CORP1988EM.4.348] [CORP1988EM.4.349] [CORP1988EM.4.350] [CORP1988EM.4.351] [CORP1988EM.4.352] [CORP1988EM.4.353] [CORP1988EM.4.354] [CORP1988EM.4.355] [CORP1988EM.4.356] [CORP1988EM.4.357] [CORP1988EM.4.358] [CORP1988EM.4.359] [CORP1988EM.4.360] [CORP1988EM.4.361] [CORP1988EM.4.362] [CORP1988EM.4.363] [CORP1988EM.4.364] [CORP1988EM.4.365] [CORP1988EM.4.366] [CORP1988EM.4.367] [CORP1988EM.4.368] [CORP1988EM.4.369] [CORP1988EM.4.370] [CORP1988EM.4.371] [CORP1988EM.4.372] [CORP1988EM.4.373] [CORP1988EM.4.374] [CORP1988EM.4.375] [CORP1988EM.4.376] [CORP1988EM.4.377] [CORP1988EM.4.378] [CORP1988EM.4.379] [CORP1988EM.4.380] [CORP1988EM.4.381] [CORP1988EM.4.382] [CORP1988EM.4.383] [CORP1988EM.4.384] [CORP1988EM.4.385] [CORP1988EM.4.386] [CORP1988EM.4.387] [CORP1988EM.4.388] [CORP1988EM.4.389] [CORP1988EM.4.390] [CORP1988EM.4.391] [CORP1988EM.4.392] [CORP1988EM.4.393] [CORP1988EM.4.394] [CORP1988EM.4.395] [CORP1988EM.4.396] [CORP1988EM.4.397] [CORP1988EM.4.398] [CORP1988EM.4.399] [CORP1988EM.4.400] [CORP1988EM.4.401] [CORP1988EM.4.402] [CORP1988EM.4.403] [CORP1988EM.4.404] [CORP1988EM.4.405] [CORP1988EM.4.406] [CORP1988EM.4.407] [CORP1988EM.4.408] [CORP1988EM.4.409] [CORP1988EM.4.410] [CORP1988EM.4.411] [CORP1988EM.4.412] [CORP1988EM.4.413] [CORP1988EM.4.414] [CORP1988EM.4.415] [CORP1988EM.4.416] [CORP1988EM.4.417] [CORP1988EM.4.418] [CORP1988EM.4.419] [CORP1988EM.4.420] [CORP1988EM.4.421] [CORP1988EM.4.422] [CORP1988EM.4.423] [CORP1988EM.4.424] [CORP1988EM.4.425] [CORP1988EM.4.426] [CORP1988EM.4.427] [CORP1988EM.4.428] [CORP1988EM.4.429] [CORP1988EM.4.430] [CORP1988EM.4.431] [CORP1988EM.4.432] [CORP1988EM.4.433] [CORP1988EM.4.434] [CORP1988EM.4.435] [CORP1988EM.4.436] [CORP1988EM.4.437] [CORP1988EM.4.438] [CORP1988EM.4.439] BILL PART 1.3 — APPLICATION [CORP1988EM.4.440] [CORP1988EM.4.441] CHAPTER 2 — CONSTITUTION OF COMPANIES [CORP1988EM.4.442] [CORP1988EM.4.443] [CORP1988EM.4.444] [CORP1988EM.4.445] PART 2.1: RESTRICTIONS ON FORMING CERTAIN ENTITIES [CORP1988EM.4.446] [CORP1988EM.4.447] [CORP1988EM.4.448] [CORP1988EM.4.449] [CORP1988EM.4.450] PART 2.2 — REGISTRATION OF COMPANIES [CORP1988EM.4.451] [CORP1988EM.4.452] [CORP1988EM.4.453] [CORP1988EM.4.454] [CORP1988EM.4.455] [CORP1988EM.4.456] [CORP1988EM.4.457] [CORP1988EM.4.458] [CORP1988EM.4.459] [CORP1988EM.4.460] [CORP1988EM.4.461] [CORP1988EM.4.462] [CORP1988EM.4.463] [CORP1988EM.4.464] [CORP1988EM.4.465] [CORP1988EM.4.466] [CORP1988EM.4.467] [CORP1988EM.4.468] [CORP1988EM.4.469] [CORP1988EM.4.470] [CORP1988EM.4.471] [CORP1988EM.4.472] [CORP1988EM.4.473] [CORP1988EM.4.474] [CORP1988EM.4.475] [CORP1988EM.4.476] [CORP1988EM.4.477] [CORP1988EM.4.478] [CORP1988EM.4.479] [CORP1988EM.4.480] [CORP1988EM.4.481] [CORP1988EM.4.482] [CORP1988EM.4.483] [CORP1988EM.4.484] [CORP1988EM.4.485] [CORP1988EM.4.486] [CORP1988EM.4.487] [CORP1988EM.4.488] [CORP1988EM.4.489] [CORP1988EM.4.490] [CORP1988EM.4.491] [CORP1988EM.4.492] [CORP1988EM.4.493] [CORP1988EM.4.494] [CORP1988EM.4.495] [CORP1988EM.4.496] [CORP1988EM.4.497] [CORP1988EM.4.498] [CORP1988EM.4.499] [CORP1988EM.4.500] [CORP1988EM.4.501] [CORP1988EM.4.502] [CORP1988EM.4.503] [CORP1988EM.4.504] [CORP1988EM.4.505] [CORP1988EM.4.506] [CORP1988EM.4.507] [CORP1988EM.4.508] [CORP1988EM.4.509] [CORP1988EM.4.510] [CORP1988EM.4.511] [CORP1988EM.4.512] [CORP1988EM.4.513] [CORP1988EM.4.514] [CORP1988EM.4.515] [CORP1988EM.4.516] [CORP1988EM.4.517] [CORP1988EM.4.518] [CORP1988EM.4.519] [CORP1988EM.4.520] [CORP1988EM.4.521] [CORP1988EM.4.522] [CORP1988EM.4.523] [CORP1988EM.4.524] [CORP1988EM.4.525] [CORP1988EM.4.526] [CORP1988EM.4.527] [CORP1988EM.4.528] [CORP1988EM.4.529] [CORP1988EM.4.530] [CORP1988EM.4.531] [CORP1988EM.4.532] [CORP1988EM.4.533] [CORP1988EM.4.534] [CORP1988EM.4.535] [CORP1988EM.4.536] [CORP1988EM.4.537] PART 2.3 — LEGAL CAPACITY. POWERS AND STATUS [CORP1988EM.4.538] [CORP1988EM.4.539] [CORP1988EM.4.540] [CORP1988EM.4.541] [CORP1988EM.4.542] [CORP1988EM.4.543] [CORP1988EM.4.544] [CORP1988EM.4.545] [CORP1988EM.4.546] [CORP1988EM.4.547] [CORP1988EM.4.548] [CORP1988EM.4.549] [CORP1988EM.4.550] [CORP1988EM.4.551] [CORP1988EM.4.552] [CORP1988EM.4.553] [CORP1988EM.4.554] [CORP1988EM.4.555] [CORP1988EM.4.556] [CORP1988EM.4.557] [CORP1988EM.4.558] [CORP1988EM.4.559] [CORP1988EM.4.560] [CORP1988EM.4.561] [CORP1988EM.4.562] [CORP1988EM.4.563] [CORP1988EM.4.564] [CORP1988EM.4.565] [CORP1988EM.4.566] [CORP1988EM.4.567] [CORP1988EM.4.568] [CORP1988EM.4.569] [CORP1988EM.4.570] [CORP1988EM.4.571] [CORP1988EM.4.572] [CORP1988EM.4.573] [CORP1988EM.4.574] [CORP1988EM.4.575] [CORP1988EM.4.576] [CORP1988EM.4.577] [CORP1988EM.4.578] [CORP1988EM.4.579] [CORP1988EM.4.580] [CORP1988EM.4.581] [CORP1988EM.4.582] [CORP1988EM.4.583] [CORP1988EM.4.584] [CORP1988EM.4.585] [CORP1988EM.4.586] [CORP1988EM.4.587] [CORP1988EM.4.588] [CORP1988EM.4.589] [CORP1988EM.4.590] [CORP1988EM.4.591] [CORP1988EM.4.592] [CORP1988EM.4.593] [CORP1988EM.4.594] [CORP1988EM.4.595] [CORP1988EM.4.596] [CORP1988EM.4.597] [CORP1988EM.4.598] [CORP1988EM.4.599] [CORP1988EM.4.600] [CORP1988EM.4.601] [CORP1988EM.4.602] [CORP1988EM.4.603] [CORP1988EM.4.604] [CORP1988EM.4.605] [CORP1988EM.4.606] [CORP1988EM.4.607] [CORP1988EM.4.608] [CORP1988EM.4.609] [CORP1988EM.4.610] [CORP1988EM.4.611] [CORP1988EM.4.612] [CORP1988EM.4.613] [CORP1988EM.4.614] [CORP1988EM.4.615] [CORP1988EM.4.616] [CORP1988EM.4.617] [CORP1988EM.4.618] [CORP1988EM.4.619] [CORP1988EM.4.620] [CORP1988EM.4.621] [CORP1988EM.4.622] [CORP1988EM.4.623] [CORP1988EM.4.624] [CORP1988EM.4.625] [CORP1988EM.4.626] [CORP1988EM.4.627] [CORP1988EM.4.628] [CORP1988EM.4.629] [CORP1988EM.4.630] [CORP1988EM.4.631] [CORP1988EM.4.632] [CORP1988EM.4.633] [CORP1988EM.4.634] [CORP1988EM.4.635] [CORP1988EM.4.636] [CORP1988EM.4.637] [CORP1988EM.4.638] [CORP1988EM.4.639] [CORP1988EM.4.640] [CORP1988EM.4.641] [CORP1988EM.4.642] [CORP1988EM.4.643] [CORP1988EM.4.644] [CORP1988EM.4.645] [CORP1988EM.4.646] [CORP1988EM.4.647] [CORP1988EM.4.648] [CORP1988EM.4.649] [CORP1988EM.4.650] [CORP1988EM.4.651] [CORP1988EM.4.652] [CORP1988EM.4.653] [CORP1988EM.4.654] [CORP1988EM.4.655] [CORP1988EM.4.656] [CORP1988EM.4.657] [CORP1988EM.4.658] [CORP1988EM.4.659] [CORP1988EM.4.660] [CORP1988EM.4.661] PART 2.4— MEMBERSHIP AND SHARE CAPITAL [CORP1988EM.4.662] [CORP1988EM.4.663] [CORP1988EM.4.664] [CORP1988EM.4.665] [CORP1988EM.4.666] [CORP1988EM.4.667] [CORP1988EM.4.668] [CORP1988EM.4.669] [CORP1988EM.4.670] [CORP1988EM.4.671] [CORP1988EM.4.672] [CORP1988EM.4.673] [CORP1988EM.4.674] [CORP1988EM.4.675] [CORP1988EM.4.676] [CORP1988EM.4.677] [CORP1988EM.4.678] [CORP1988EM.4.679] [CORP1988EM.4.680] [CORP1988EM.4.681] [CORP1988EM.4.682] [CORP1988EM.4.683] [CORP1988EM.4.684] [CORP1988EM.4.685] [CORP1988EM.4.686] [CORP1988EM.4.687] [CORP1988EM.4.688] [CORP1988EM.4.689] [CORP1988EM.4.690] [CORP1988EM.4.691] [CORP1988EM.4.692] CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS [CORP1988EM.4.693] [CORP1988EM.4.694] [CORP1988EM.4.695] [CORP1988EM.4.696] [CORP1988EM.4.697] [CORP1988EM.4.698] [CORP1988EM.4.699] [CORP1988EM.4.700] [CORP1988EM.4.701] [CORP1988EM.4.702] [CORP1988EM.4.703] [CORP1988EM.4.704] [CORP1988EM.4.705] [CORP1988EM.4.706] [CORP1988EM.4.707] [CORP1988EM.4.708] [CORP1988EM.4.709] [CORP1988EM.4.710] [CORP1988EM.4.711] [CORP1988EM.4.712] [CORP1988EM.4.713] [CORP1988EM.4.714] [CORP1988EM.4.715] [CORP1988EM.4.716] [CORP1988EM.4.717] [CORP1988EM.4.718] [CORP1988EM.4.719] [CORP1988EM.4.720] [CORP1988EM.4.721] [CORP1988EM.4.722] [CORP1988EM.4.723] [CORP1988EM.4.724] [CORP1988EM.4.725] [CORP1988EM.4.726] [CORP1988EM.4.727] [CORP1988EM.4.728] [CORP1988EM.4.729] [CORP1988EM.4.730] [CORP1988EM.4.731] [CORP1988EM.4.732] [CORP1988EM.4.733] [CORP1988EM.4.734] [CORP1988EM.4.735] [CORP1988EM.4.736] [CORP1988EM.4.737] [CORP1988EM.4.738] [CORP1988EM.4.739] [CORP1988EM.4.740] [CORP1988EM.4.741] [CORP1988EM.4.742] [CORP1988EM.4.743] [CORP1988EM.4.744] [CORP1988EM.4.745] [CORP1988EM.4.746] [CORP1988EM.4.747] [CORP1988EM.4.748] [CORP1988EM.4.749] [CORP1988EM.4.750] [CORP1988EM.4.751] [CORP1988EM.4.752] [CORP1988EM.4.753] [CORP1988EM.4.754] [CORP1988EM.4.755] [CORP1988EM.4.756] [CORP1988EM.4.757] [CORP1988EM.4.758] [CORP1988EM.4.759] [CORP1988EM.4.760] [CORP1988EM.4.761] [CORP1988EM.4.762] [CORP1988EM.4.763] [CORP1988EM.4.764] [CORP1988EM.4.765] [CORP1988EM.4.766] [CORP1988EM.4.767] [CORP1988EM.4.768] [CORP1988EM.4.769] [CORP1988EM.4.770] [CORP1988EM.4.771] [CORP1988EM.4.772] [CORP1988EM.4.773] [CORP1988EM.4.774] [CORP1988EM.4.775] [CORP1988EM.4.776] [CORP1988EM.4.777] [CORP1988EM.4.778] [CORP1988EM.4.779] CHAPTER 3 — INTERNAL ADMINISTRATION PART 3.1 — REGISTERED OFFICE AND NAME [CORP1988EM.4.780] [CORP1988EM.4.781] [CORP1988EM.4.782] [CORP1988EM.4.783] [CORP1988EM.4.784] [CORP1988EM.4.785] [CORP1988EM.4.786] [CORP1988EM.4.787] [CORP1988EM.4.788] PART 3.2 — OFFICERS [CORP1988EM.4.789] [CORP1988EM.4.790] [CORP1988EM.4.791] [CORP1988EM.4.792] [CORP1988EM.4.793] [CORP1988EM.4.794] [CORP1988EM.4.795] [CORP1988EM.4.796] [CORP1988EM.4.797] [CORP1988EM.4.798] [CORP1988EM.4.799] [CORP1988EM.4.800] [CORP1988EM.4.801] [CORP1988EM.4.802] [CORP1988EM.4.803] [CORP1988EM.4.804] [CORP1988EM.4.805] [CORP1988EM.4.806] [CORP1988EM.4.807] [CORP1988EM.4.808] [CORP1988EM.4.809] [CORP1988EM.4.810] [CORP1988EM.4.811] [CORP1988EM.4.812] [CORP1988EM.4.813] [CORP1988EM.4.814] [CORP1988EM.4.815] [CORP1988EM.4.816] [CORP1988EM.4.817] [CORP1988EM.4.818] [CORP1988EM.4.819] [CORP1988EM.4.820] [CORP1988EM.4.821] [CORP1988EM.4.822] [CORP1988EM.4.823] [CORP1988EM.4.824] [CORP1988EM.4.825] [CORP1988EM.4.826] [CORP1988EM.4.827] [CORP1988EM.4.828] [CORP1988EM.4.829] [CORP1988EM.4.830] [CORP1988EM.4.831] [CORP1988EM.4.832] [CORP1988EM.4.833] [CORP1988EM.4.834] [CORP1988EM.4.835] [CORP1988EM.4.836] [CORP1988EM.4.837] [CORP1988EM.4.838] [CORP1988EM.4.839] [CORP1988EM.4.840] [CORP1988EM.4.841] [CORP1988EM.4.842] [CORP1988EM.4.843] [CORP1988EM.4.844] [CORP1988EM.4.845] [CORP1988EM.4.846] [CORP1988EM.4.847] [CORP1988EM.4.848] [CORP1988EM.4.849] [CORP1988EM.4.850] [CORP1988EM.4.851] [CORP1988EM.4.852] [CORP1988EM.4.853] [CORP1988EM.4.854] [CORP1988EM.4.855] [CORP1988EM.4.856] [CORP1988EM.4.857] [CORP1988EM.4.858] [CORP1988EM.4.859] [CORP1988EM.4.860] [CORP1988EM.4.861] [CORP1988EM.4.862] [CORP1988EM.4.863] [CORP1988EM.4.864] [CORP1988EM.4.865] [CORP1988EM.4.866] [CORP1988EM.4.867] [CORP1988EM.4.868] [CORP1988EM.4.869] [CORP1988EM.4.870] [CORP1988EM.4.871] [CORP1988EM.4.872] [CORP1988EM.4.873] [CORP1988EM.4.874] [CORP1988EM.4.875] [CORP1988EM.4.876] [CORP1988EM.4.877] [CORP1988EM.4.878] [CORP1988EM.4.879] PART 3.3 — MEETINGS AND PROCEEDINGS [CORP1988EM.4.880] [CORP1988EM.4.881] [CORP1988EM.4.882] [CORP1988EM.4.883] [CORP1988EM.4.884] [CORP1988EM.4.885] [CORP1988EM.4.886] [CORP1988EM.4.887] [CORP1988EM.4.888] [CORP1988EM.4.889] [CORP1988EM.4.890] [CORP1988EM.4.891] [CORP1988EM.4.892] [CORP1988EM.4.893] [CORP1988EM.4.894] [CORP1988EM.4.985] [CORP1988EM.4.896] [CORP1988EM.4.897] [CORP1988EM.4.898] [CORP1988EM.4.899] [CORP1988EM.4.900] [CORP1988EM.4.901] [CORP1988EM.4.902] [CORP1988EM.4.903] [CORP1988EM.4.904] [CORP1988EM.4.905] [CORP1988EM.4.906] [CORP1988EM.4.907] [CORP1988EM.4.908] [CORP1988EM.4.909] [CORP1988EM.4.910] [CORP1988EM.4.911] [CORP1988EM.4.912] [CORP1988EM.4.913] [CORP1988EM.4.914] [CORP1988EM.4.915] [CORP1988EM.4.916] [CORP1988EM.4.917] [CORP1988EM.4.918] [CORP1988EM.4.919] [CORP1988EM.4.920] [CORP1988EM.4.921] PART 3.4: OPPRESSIVE CONDUCT OF AFFAIRS [CORP1988EM.4.922] [CORP1988EM.4.923] [CORP1988EM.4.924] [CORP1988EM.4.925] [CORP1988EM.4.926] [CORP1988EM.4.927] [CORP1988EM.4.928] PART 3.5 — CHARGES INTRODUCTION [CORP1988EM.4.929] [CORP1988EM.4.930] [CORP1988EM.4.931] [CORP1988EM.4.932] [CORP1988EM.4.933] [CORP1988EM.4.934] [CORP1988EM.4.935] [CORP1988EM.4.936] [CORP1988EM.4.937] [CORP1988EM.4.938] [CORP1988EM.4.939] [CORP1988EM.4.940] [CORP1988EM.4.941] [CORP1988EM.4.942] [CORP1988EM.4.943] [CORP1988EM.4.944] [CORP1988EM.4.945] [CORP1988EM.4.946] [CORP1988EM.4.947] [CORP1988EM.4.948] [CORP1988EM.4.949] [CORP1988EM.4.950] [CORP1988EM.4.951] [CORP1988EM.4.952] [CORP1988EM.4.953] [CORP1988EM.4.954] [CORP1988EM.4.955] [CORP1988EM.4.956] [CORP1988EM.4.957] [CORP1988EM.4.958] [CORP1988EM.4.959] [CORP1988EM.4.960] [CORP1988EM.4.961] [CORP1988EM.4.962] [CORP1988EM.4.963] [CORP1988EM.4.964] [CORP1988EM.4.965] [CORP1988EM.4.966] [CORP1988EM.4.967] [CORP1988EM.4.968] [CORP1988EM.4.969] [CORP1988EM.4.970] [CORP1988EM.4.971] [CORP1988EM.4.972] [CORP1988EM.4.973] [CORP1988EM.4.974] [CORP1988EM.4.975] [CORP1988EM.4.976] [CORP1988EM.4.977] [CORP1988EM.4.978] [CORP1988EM.4.979] [CORP1988EM.4.980] [CORP1988EM.4.981] [CORP1988EM.4.982] [CORP1988EM.4.983] [CORP1988EM.4.984] [CORP1988EM.4.985] [CORP1988EM.4.986] [CORP1988EM.4.987] [CORP1988EM.4.988] [CORP1988EM.4.989] [CORP1988EM.4.990] [CORP1988EM.4.991] [CORP1988EM.4.992] [CORP1988EM.4.993] [CORP1988EM.4.994] [CORP1988EM.4.995] [CORP1988EM.4.996] [CORP1988EM.4.997] [CORP1988EM.4.998] [CORP1988EM.4.999] [CORP1988EM.4.1000] [CORP1988EM.4.1001] [CORP1988EM.4.1002] [CORP1988EM.4.1003] [CORP1988EM.4.1004] [CORP1988EM.4.1005] [CORP1988EM.4.1006] [CORP1988EM.4.1007] [CORP1988EM.4.1008] [CORP1988EM.4.1009] [CORP1988EM.4.1010] [CORP1988EM.4.1011] [CORP1988EM.4.1012] [CORP1988EM.4.1013] [CORP1988EM.4.1014] [CORP1988EM.4.1015] [CORP1988EM.4.1016] [CORP1988EM.4.1017] [CORP1988EM.4.1018] [CORP1988EM.4.1019] [CORP1988EM.4.1020] [CORP1988EM.4.1021] [CORP1988EM.4.1022] [CORP1988EM.4.1023] [CORP1988EM.4.1024] [CORP1988EM.4.1025] [CORP1988EM.4.1026] [CORP1988EM.4.1027] [CORP1988EM.4.1028] [CORP1988EM.4.1029] [CORP1988EM.4.1030] [CORP1988EM.4.1031] [CORP1988EM.4.1032] [CORP1988EM.4.1033] [CORP1988EM.4.1034] [CORP1988EM.4.1035] [CORP1988EM.4.1036] [CORP1988EM.4.1037] [CORP1988EM.4.1038] [CORP1988EM.4.1039] [CORP1988EM.4.1040] [CORP1988EM.4.1041] [CORP1988EM.4.1042] [CORP1988EM.4.1043] [CORP1988EM.4.1044] [CORP1988EM.4.1045] [CORP1988EM.4.1046] [CORP1988EM.4.1047] [CORP1988EM.4.1048] [CORP1988EM.4.1049] [CORP1988EM.4.1050] [CORP1988EM.4.1051] [CORP1988EM.4.1052] [CORP1988EM.4.1053] [CORP1988EM.4.1054] [CORP1988EM.4.1055] [CORP1988EM.4.1056] [CORP1988EM.4.1057] [CORP1988EM.4.1058] [CORP1988EM.4.1059] [CORP1988EM.4.1060] [CORP1988EM.4.1061] [CORP1988EM.4.1062] [CORP1988EM.4.1063] [CORP1988EM.4.1064] [CORP1988EM.4.1065] [CORP1988EM.4.1066] [CORP1988EM.4.1067] [CORP1988EM.4.1068] [CORP1988EM.4.1069] [CORP1988EM.4.1070] [CORP1988EM.4.1071] [CORP1988EM.4.1072] [CORP1988EM.4.1073] [CORP1988EM.4.1074] [CORP1988EM.4.1075] [CORP1988EM.4.1076] [CORP1988EM.4.1077] [CORP1988EM.4.1078] [CORP1988EM.4.1079] [CORP1988EM.4.1080] [CORP1988EM.4.1081] [CORP1988EM.4.1082] [CORP1988EM.4.1083] [CORP1988EM.4.1084] [CORP1988EM.4.1085] [CORP1988EM.4.1086] [CORP1988EM.4.1087] [CORP1988EM.4.1088] [CORP1988EM.4.1089] [CORP1988EM.4.1090] [CORP1988EM.4.1091] [CORP1988EM.4.1092] [CORP1988EM.4.1093] [CORP1988EM.4.1094] [CORP1988EM.4.1095] [CORP1988EM.4.1096] [CORP1988EM.4.1097] [CORP1988EM.4.1098] [CORP1988EM.4.1099] [CORP1988EM.4.1100] [CORP1988EM.4.1101] [CORP1988EM.4.1102] [CORP1988EM.4.1103] [CORP1988EM.4.1104] [CORP1988EM.4.1105] [CORP1988EM.4.1106] [CORP1988EM.4.1107] [CORP1988EM.4.1108] [CORP1988EM.4.1109] [CORP1988EM.4.1110] [CORP1988EM.4.1111] [CORP1988EM.4.1112] [CORP1988EM.4.1113] [CORP1988EM.4.1114] [CORP1988EM.4.1115] [CORP1988EM.4.1116] [CORP1988EM.4.1117] [CORP1988EM.4.1118] [CORP1988EM.4.1119] [CORP1988EM.4.1120] [CORP1988EM.4.1121] [CORP1988EM.4.1122] [CORP1988EM.4.1123] [CORP1988EM.4.1124] [CORP1988EM.4.1125] [CORP1988EM.4.1126] [CORP1988EM.4.1127] [CORP1988EM.4.1128] [CORP1988EM.4.1129] [CORP1988EM.4.1130] [CORP1988EM.4.1131] [CORP1988EM.4.1132] [CORP1988EM.4.1133] [CORP1988EM.4.1134] [CORP1988EM.4.1135] [CORP1988EM.4.1136] [CORP1988EM.4.1137] [CORP1988EM.4.1138] [CORP1988EM.4.1139] [CORP1988EM.4.1140] [CORP1988EM.4.1141] [CORP1988EM.4.1142] [CORP1988EM.4.1143] [CORP1988EM.4.1144] [CORP1988EM.4.1145] [CORP1988EM.4.1146] [CORP1988EM.4.1147] [CORP1988EM.4.1148] [CORP1988EM.4.1149] [CORP1988EM.4.1150] [CORP1988EM.4.1151] [CORP1988EM.4.1152] [CORP1988EM.4.1153] [CORP1988EM.4.1154] [CORP1988EM.4.1155] [CORP1988EM.4.1156] [CORP1988EM.4.1157] [CORP1988EM.4.1158] [CORP1988EM.4.1159] [CORP1988EM.4.1160] [CORP1988EM.4.1161] [CORP1988EM.4.1162] [CORP1988EM.4.1163] [CORP1988EM.4.1164] [CORP1988EM.4.1165] [CORP1988EM.4.1166] [CORP1988EM.4.1167] [CORP1988EM.4.1168] [CORP1988EM.4.1169] [CORP1988EM.4.1170] [CORP1988EM.4.1171] [CORP1988EM.4.1172] [CORP1988EM.4.1173] [CORP1988EM.4.1174] [CORP1988EM.4.1175] [CORP1988EM.4.1176] [CORP1988EM.4.1177] [CORP1988EM.4.1178] [CORP1988EM.4.1179] [CORP1988EM.4.1180] [CORP1988EM.4.1181] [CORP1988EM.4.1182] [CORP1988EM.4.1183] [CORP1988EM.4.1184] [CORP1988EM.4.1185] [CORP1988EM.4.1186] [CORP1988EM.4.1187] [CORP1988EM.4.1188] [CORP1988EM.4.1189] [CORP1988EM.4.1190] [CORP1988EM.4.1191] [CORP1988EM.4.1192] [CORP1988EM.4.1193] [CORP1988EM.4.1194] [CORP1988EM.4.1195] [CORP1988EM.4.1196] [CORP1988EM.4.1197] [CORP1988EM.4.1198] [CORP1988EM.4.1199] [CORP1988EM.4.1200] [CORP1988EM.4.1201] [CORP1988EM.4.1202] [CORP1988EM.4.1203] [CORP1988EM.4.1204] [CORP1988EM.4.1205] [CORP1988EM.4.1206] [CORP1988EM.4.1207] [CORP1988EM.4.1208] [CORP1988EM.4.1209] [CORP1988EM.4.1210] [CORP1988EM.4.1211] [CORP1988EM.4.1212] [CORP1988EM.4.1213] [CORP1988EM.4.1214] [CORP1988EM.4.1215] [CORP1988EM.4.1216] [CORP1988EM.4.1217] [CORP1988EM.4.1218] [CORP1988EM.4.1219] [CORP1988EM.4.1220] [CORP1988EM.4.1221] [CORP1988EM.4.1222] [CORP1988EM.4.1223] [CORP1988EM.4.1224] [CORP1988EM.4.1225] [CORP1988EM.4.1226] [CORP1988EM.4.1227] [CORP1988EM.4.1228] [CORP1988EM.4.1229] [CORP1988EM.4.1230] [CORP1988EM.4.1231] [CORP1988EM.4.1232] [CORP1988EM.4.1233] [CORP1988EM.4.1234] [CORP1988EM.4.1235] [CORP1988EM.4.1236] [CORP1988EM.4.1237] [CORP1988EM.4.1238] [CORP1988EM.4.1239] [CORP1988EM.4.1240] [CORP1988EM.4.1241] [CORP1988EM.4.1242] [CORP1988EM.4.1243] [CORP1988EM.4.1244] [CORP1988EM.4.1245] [CORP1988EM.4.1246] [CORP1988EM.4.1247] [CORP1988EM.4.1248] [CORP1988EM.4.1249] [CORP1988EM.4.1250] [CORP1988EM.4.1251] [CORP1988EM.4.1252] [CORP1988EM.4.1253] [CORP1988EM.4.1254] [CORP1988EM.4.1255] [CORP1988EM.4.1256] [CORP1988EM.4.1257] [CORP1988EM.4.1258] [CORP1988EM.4.1259] [CORP1988EM.4.1260] [CORP1988EM.4.1261] [CORP1988EM.4.1262] [CORP1988EM.4.1263] [CORP1988EM.4.1264] [CORP1988EM.4.1265] [CORP1988EM.4.1266] [CORP1988EM.4.1267] [CORP1988EM.4.1268] [CORP1988EM.4.1269] [CORP1988EM.4.1270] [CORP1988EM.4.1271] [CORP1988EM.4.1272] [CORP1988EM.4.1273] [CORP1988EM.4.1274] [CORP1988EM.4.1275] [CORP1988EM.4.1276] [CORP1988EM.4.1277] [CORP1988EM.4.1278] [CORP1988EM.4.1279] [CORP1988EM.4.1280] [CORP1988EM.4.1281] [CORP1988EM.4.1282] [CORP1988EM.4.1283] [CORP1988EM.4.1284] [CORP1988EM.4.1285] [CORP1988EM.4.1286] [CORP1988EM.4.1287] [CORP1988EM.4.1288] [CORP1988EM.4.1289] [CORP1988EM.4.1290] [CORP1988EM.4.1291] [CORP1988EM.4.1292] [CORP1988EM.4.1293] [CORP1988EM.4.1294] [CORP1988EM.4.1295] [CORP1988EM.4.1296] [CORP1988EM.4.1297] [CORP1988EM.4.1298] [CORP1988EM.4.1299] [CORP1988EM.4.1300] [CORP1988EM.4.1301] [CORP1988EM.4.1302] CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS [CORP1988EM.4.1303] [CORP1988EM.4.1304] [CORP1988EM.4.1305] [CORP1988EM.4.1306] [CORP1988EM.4.1307] [CORP1988EM.4.1308] [CORP1988EM.4.1309] [CORP1988EM.4.1310] [CORP1988EM.4.1311] [CORP1988EM.4.1312] [CORP1988EM.4.1313] [CORP1988EM.4.1314] [CORP1988EM.4.1315] [CORP1988EM.4.1316] [CORP1988EM.4.1317] [CORP1988EM.4.1318] [CORP1988EM.4.1319] [CORP1988EM.4.1320] [CORP1988EM.4.1321] [CORP1988EM.4.1322] [CORP1988EM.4.1323] [CORP1988EM.4.1324] [CORP1988EM.4.1325] [CORP1988EM.4.1326] [CORP1988EM.4.1327] [CORP1988EM.4.1328] [CORP1988EM.4.1329] [CORP1988EM.4.1330] [CORP1988EM.4.1331] [CORP1988EM.4.1332] [CORP1988EM.4.1333] [CORP1988EM.4.1334] [CORP1988EM.4.1335] [CORP1988EM.4.1336] [CORP1988EM.4.1337] [CORP1988EM.4.1338] [CORP1988EM.4.1339] [CORP1988EM.4.1340] [CORP1988EM.4.1341] [CORP1988EM.4.1342] [CORP1988EM.4.1343] [CORP1988EM.4.1344] [CORP1988EM.4.1345] [CORP1988EM.4.1346] [CORP1988EM.4.1347] [CORP1988EM.4.1348] [CORP1988EM.4.1349] [CORP1988EM.4.1350] [CORP1988EM.4.1351] [CORP1988EM.4.1352] [CORP1988EM.4.1353] [CORP1988EM.4.1354] [CORP1988EM.4.1355] [CORP1988EM.4.1356] [CORP1988EM.4.1357] [CORP1988EM.4.1358] [CORP1988EM.4.1359] [CORP1988EM.4.1360] [CORP1988EM.4.1361] [CORP1988EM.4.1362] [CORP1988EM.4.1363] [CORP1988EM.4.1364] [CORP1988EM.4.1365] [CORP1988EM.4.1366] [CORP1988EM.4.1367] [CORP1988EM.4.1368] [CORP1988EM.4.1369] [CORP1988EM.4.1370] [CORP1988EM.4.1371] [CORP1988EM.4.1372] [CORP1988EM.4.1373] [CORP1988EM.4.1374] [CORP1988EM.4.1375] [CORP1988EM.4.1376] [CORP1988EM.4.1377] [CORP1988EM.4.1378] [CORP1988EM.4.1379] [CORP1988EM.4.1380] [CORP1988EM.4.1381] [CORP1988EM.4.1382] [CORP1988EM.4.1383] [CORP1988EM.4.1384] [CORP1988EM.4.1385] [CORP1988EM.4.1386] [CORP1988EM.4.1387] [CORP1988EM.4.1388] [CORP1988EM.4.1389] [CORP1988EM.4.1390] [CORP1988EM.4.1391] [CORP1988EM.4.1392] [CORP1988EM.4.1393] [CORP1988EM.4.1394] [CORP1988EM.4.1395] [CORP1988EM.4.1396] [CORP1988EM.4.1397] [CORP1988EM.4.1398] [CORP1988EM.4.1399] [CORP1988EM.4.1400] [CORP1988EM.4.1401] [CORP1988EM.4.1402] [CORP1988EM.4.1403] [CORP1988EM.4.1404] [CORP1988EM.4.1405] [CORP1988EM.4.1406] [CORP1988EM.4.1407] [CORP1988EM.4.1408] [CORP1988EM.4.1409] [CORP1988EM.4.1410] [CORP1988EM.4.1411] [CORP1988EM.4.1412] [CORP1988EM.4.1413] [CORP1988EM.4.1414] [CORP1988EM.4.1415] [CORP1988EM.4.1416] [CORP1988EM.4.1417] [CORP1988EM.4.1418] [CORP1988EM.4.1419] [CORP1988EM.4.1420] [CORP1988EM.4.1421] [CORP1988EM.4.1422] [CORP1988EM.4.1423] [CORP1988EM.4.1424] [CORP1988EM.4.1425] [CORP1988EM.4.1426] [CORP1988EM.4.1427] [CORP1988EM.4.1428] [CORP1988EM.4.1429] [CORP1988EM.4.1430] [CORP1988EM.4.1431] [CORP1988EM.4.1432] [CORP1988EM.4.1433] [CORP1988EM.4.1434] [CORP1988EM.4.1435] [CORP1988EM.4.1436] [CORP1988EM.4.1437] [CORP1988EM.4.1438] [CORP1988EM.4.1439] [CORP1988EM.4.1440] [CORP1988EM.4.1441] [CORP1988EM.4.1442] [CORP1988EM.4.1443] [CORP1988EM.4.1444] [CORP1988EM.4.1445] [CORP1988EM.4.1446] [CORP1988EM.4.1447] [CORP1988EM.4.1448] [CORP1988EM.4.1449] [CORP1988EM.4.1450] [CORP1988EM.4.1451] [CORP1988EM.4.1452] [CORP1988EM.4.1453] [CORP1988EM.4.1454] [CORP1988EM.4.1455] [CORP1988EM.4.1456] [CORP1988EM.4.1457] [CORP1988EM.4.1458] [CORP1988EM.4.1459] [CORP1988EM.4.1460] [CORP1988EM.4.1461] [CORP1988EM.4.1462] [CORP1988EM.4.1463] [CORP1988EM.4.1464] [CORP1988EM.4.1465] [CORP1988EM.4.1466] [CORP1988EM.4.1467] [CORP1988EM.4.1468] [CORP1988EM.4.1469] [CORP1988EM.4.1470] [CORP1988EM.4.1471] [CORP1988EM.4.1472] [CORP1988EM.4.1473] [CORP1988EM.4.1474] [CORP1988EM.4.1475] [CORP1988EM.4.1476] [CORP1988EM.4.1477] [CORP1988EM.4.1478] [CORP1988EM.4.1479] [CORP1988EM.4.1480] [CORP1988EM.4.1481] [CORP1988EM.4.1482] [CORP1988EM.4.1483] [CORP1988EM.4.1484] [CORP1988EM.4.1485] [CORP1988EM.4.1486] [CORP1988EM.4.1487] [CORP1988EM.4.1488] [CORP1988EM.4.1489] [CORP1988EM.4.1490] [CORP1988EM.4.1491] [CORP1988EM.4.1492] [CORP1988EM.4.1493] [CORP1988EM.4.1494] [CORP1988EM.4.1495] [CORP1988EM.4.1496] [CORP1988EM.4.1497] [CORP1988EM.4.1498] [CORP1988EM.4.1499] [CORP1988EM.4.1500] [CORP1988EM.4.1501] [CORP1988EM.4.1502] [CORP1988EM.4.1503] [CORP1988EM.4.1504] [CORP1988EM.4.1505] [CORP1988EM.4.1506] [CORP1988EM.4.1507] [CORP1988EM.4.1508] [CORP1988EM.4.1509] [CORP1988EM.4.1510] [CORP1988EM.4.1511] [CORP1988EM.4.1512] [CORP1988EM.4.1513] [CORP1988EM.4.1514] [CORP1988EM.4.1515] [CORP1988EM.4.1516] [CORP1988EM.4.1517] [CORP1988EM.4.1518] [CORP1988EM.4.1519] [CORP1988EM.4.1520] [CORP1988EM.4.1521] [CORP1988EM.4.1522] [CORP1988EM.4.1523] [CORP1988EM.4.1524] [CORP1988EM.4.1525] [CORP1988EM.4.1526] [CORP1988EM.4.1527] [CORP1988EM.4.1528] [CORP1988EM.4.1529] [CORP1988EM.4.1530] [CORP1988EM.4.1531] [CORP1988EM.4.1532] [CORP1988EM.4.1533] [CORP1988EM.4.1534] [CORP1988EM.4.1535] [CORP1988EM.4.1536] [CORP1988EM.4.1537] [CORP1988EM.4.1538] [CORP1988EM.4.1539] [CORP1988EM.4.1540] [CORP1988EM.4.1541] [CORP1988EM.4.1542] [CORP1988EM.4.1543] [CORP1988EM.4.1544] [CORP1988EM.4.1545] [CORP1988EM.4.1546] [CORP1988EM.4.1547] [CORP1988EM.4.1548] [CORP1988EM.4.1549] [CORP1988EM.4.1550] [CORP1988EM.4.1551] [CORP1988EM.4.1552] [CORP1988EM.4.1553] [CORP1988EM.4.1554] [CORP1988EM.4.1555] [CORP1988EM.4.1556] [CORP1988EM.4.1557] [CORP1988EM.4.1558] [CORP1988EM.4.1559] [CORP1988EM.4.1560] [CORP1988EM.4.1561] [CORP1988EM.4.1562] [CORP1988EM.4.1563] [CORP1988EM.4.1564] [CORP1988EM.4.1565] [CORP1988EM.4.1566] [CORP1988EM.4.1567] [CORP1988EM.4.1568] [CORP1988EM.4.1569] [CORP1988EM.4.1570] [CORP1988EM.4.1571] [CORP1988EM.4.1572] [CORP1988EM.4.1573] [CORP1988EM.4.1574] [CORP1988EM.4.1575] [CORP1988EM.4.1576] [CORP1988EM.4.1577] [CORP1988EM.4.1578] [CORP1988EM.4.1579] [CORP1988EM.4.1580] [CORP1988EM.4.1581] [CORP1988EM.4.1582] [CORP1988EM.4.1583] [CORP1988EM.4.1584] [CORP1988EM.4.1585] [CORP1988EM.4.1586] [CORP1988EM.4.1587] [CORP1988EM.4.1588] [CORP1988EM.4.1589] [CORP1988EM.4.1590] [CORP1988EM.4.1591] [CORP1988EM.4.1592] [CORP1988EM.4.1593] [CORP1988EM.4.1594] [CORP1988EM.4.1595] [CORP1988EM.4.1596] [CORP1988EM.4.1597] [CORP1988EM.4.1598] [CORP1988EM.4.1599] [CORP1988EM.4.1600] [CORP1988EM.4.1601] [CORP1988EM.4.1602] [CORP1988EM.4.1603] [CORP1988EM.4.1604] [CORP1988EM.4.1605] [CORP1988EM.4.1606] [CORP1988EM.4.1607] [CORP1988EM.4.1608] [CORP1988EM.4.1609] [CORP1988EM.4.1610] [CORP1988EM.4.1611] [CORP1988EM.4.1612] [CORP1988EM.4.1613] [CORP1988EM.4.1614] [CORP1988EM.4.1615] [CORP1988EM.4.1616] [CORP1988EM.4.1617] [CORP1988EM.4.1618] [CORP1988EM.4.1619] [CORP1988EM.4.1620] [CORP1988EM.4.1621] [CORP1988EM.4.1622] [CORP1988EM.4.1623] [CORP1988EM.4.1624] [CORP1988EM.4.1625] [CORP1988EM.4.1626] [CORP1988EM.4.1627] [CORP1988EM.4.1628] [CORP1988EM.4.1629] [CORP1988EM.4.1630] [CORP1988EM.4.1631] [CORP1988EM.4.1632] [CORP1988EM.4.1633] [CORP1988EM.4.1634] [CORP1988EM.4.1635] [CORP1988EM.4.1636] [CORP1988EM.4.1637] [CORP1988EM.4.1638] [CORP1988EM.4.1639] [CORP1988EM.4.1640] [CORP1988EM.4.1641] [CORP1988EM.4.1642] [CORP1988EM.4.1643] [CORP1988EM.4.1644] [CORP1988EM.4.1645] [CORP1988EM.4.1646] [CORP1988EM.4.1647] [CORP1988EM.4.1648] [CORP1988EM.4.1649] [CORP1988EM.4.1650] [CORP1988EM.4.1651] [CORP1988EM.4.1652] [CORP1988EM.4.1653] [CORP1988EM.4.1654] [CORP1988EM.4.1655] [CORP1988EM.4.1656] [CORP1988EM.4.1657] [CORP1988EM.4.1658] [CORP1988EM.4.1659] [CORP1988EM.4.1660] [CORP1988EM.4.1661] [CORP1988EM.4.1662] [CORP1988EM.4.1663] [CORP1988EM.4.1664] [CORP1988EM.4.1665] [CORP1988EM.4.1666] [CORP1988EM.4.1667] [CORP1988EM.4.1668] [CORP1988EM.4.1669] [CORP1988EM.4.1670] [CORP1988EM.4.1671] [CORP1988EM.4.1672] [CORP1988EM.4.1673] [CORP1988EM.4.1674] [CORP1988EM.4.1675] [CORP1988EM.4.1676] [CORP1988EM.4.1677] [CORP1988EM.4.1678] [CORP1988EM.4.1679] [CORP1988EM.4.1680] [CORP1988EM.4.1681] [CORP1988EM.4.1682] [CORP1988EM.4.1683] [CORP1988EM.4.1684] [CORP1988EM.4.1685] [CORP1988EM.4.1686] [CORP1988EM.4.1687] [CORP1988EM.4.1688] [CORP1988EM.4.1689] [CORP1988EM.4.1690] [CORP1988EM.4.1691] [CORP1988EM.4.1692] [CORP1988EM.4.1693] [CORP1988EM.4.1694] [CORP1988EM.4.1695] [CORP1988EM.4.1696] [CORP1988EM.4.1697] [CORP1988EM.4.1698] [CORP1988EM.4.1699] [CORP1988EM.4.1700] [CORP1988EM.4.1701] [CORP1988EM.4.1702] [CORP1988EM.4.1703] [CORP1988EM.4.1704] [CORP1988EM.4.1705] [CORP1988EM.4.1706] [CORP1988EM.4.1707] [CORP1988EM.4.1708] [CORP1988EM.4.1709] [CORP1988EM.4.1710] [CORP1988EM.4.1711] [CORP1988EM.4.1712] [CORP1988EM.4.1713] [CORP1988EM.4.1714] [CORP1988EM.4.1715] [CORP1988EM.4.1716] [CORP1988EM.4.1717] [CORP1988EM.4.1718] [CORP1988EM.4.1719] [CORP1988EM.4.1720] [CORP1988EM.4.1721] [CORP1988EM.4.1722] [CORP1988EM.4.1723] [CORP1988EM.4.1724] [CORP1988EM.4.1725] [CORP1988EM.4.1726] [CORP1988EM.4.1727] [CORP1988EM.4.1728] [CORP1988EM.4.1729] [CORP1988EM.4.1730] [CORP1988EM.4.1731] [CORP1988EM.4.1732] [CORP1988EM.4.1733] [CORP1988EM.4.1734] [CORP1988EM.4.1735] [CORP1988EM.4.1736] [CORP1988EM.4.1737] [CORP1988EM.4.1738] [CORP1988EM.4.1739] [CORP1988EM.4.1740] [CORP1988EM.4.1741] [CORP1988EM.4.1742] [CORP1988EM.4.1743] [CORP1988EM.4.1744] [CORP1988EM.4.1745] [CORP1988EM.4.1746] [CORP1988EM.4.1747] [CORP1988EM.4.1748] [CORP1988EM.4.1749] [CORP1988EM.4.1750] [CORP1988EM.4.1751] [CORP1988EM.4.1752] [CORP1988EM.4.1753] [CORP1988EM.4.1754] [CORP1988EM.4.1755] [CORP1988EM.4.1756] [CORP1988EM.4.1757] [CORP1988EM.4.1758] [CORP1988EM.4.1759] [CORP1988EM.4.1760] [CORP1988EM.4.1761] [CORP1988EM.4.1762] [CORP1988EM.4.1763] [CORP1988EM.4.1764] [CORP1988EM.4.1765] [CORP1988EM.4.1766] [CORP1988EM.4.1767] [CORP1988EM.4.1768] [CORP1988EM.4.1769] [CORP1988EM.4.1770] [CORP1988EM.4.1771] [CORP1988EM.4.1772] [CORP1988EM.4.1773] [CORP1988EM.4.1774] [CORP1988EM.4.1775] [CORP1988EM.4.1776] [CORP1988EM.4.1777] [CORP1988EM.4.1778] [CORP1988EM.4.1779] [CORP1988EM.4.1780] [CORP1988EM.4.1781] [CORP1988EM.4.1782] [CORP1988EM.4.1783] [CORP1988EM.4.1784] [CORP1988EM.4.1785] [CORP1988EM.4.1786] [CORP1988EM.4.1787] [CORP1988EM.4.1788] [CORP1988EM.4.1789] [CORP1988EM.4.1790] [CORP1988EM.4.1791] [CORP1988EM.4.1792] [CORP1988EM.4.1793] [CORP1988EM.4.1794] [CORP1988EM.4.1795] [CORP1988EM.4.1796] [CORP1988EM.4.1797] [CORP1988EM.4.1798] [CORP1988EM.4.1799] [CORP1988EM.4.1800] [CORP1988EM.4.1801] [CORP1988EM.4.1802] [CORP1988EM.4.1803] [CORP1988EM.4.1804] [CORP1988EM.4.1805] [CORP1988EM.4.1806] [CORP1988EM.4.1807] [CORP1988EM.4.1808] [CORP1988EM.4.1809] [CORP1988EM.4.1810] [CORP1988EM.4.1811] [CORP1988EM.4.1812] [CORP1988EM.4.1813] [CORP1988EM.4.1814] [CORP1988EM.4.1815] [CORP1988EM.4.1816] [CORP1988EM.4.1817] [CORP1988EM.4.1818] [CORP1988EM.4.1819] [CORP1988EM.4.1820] [CORP1988EM.4.1821] [CORP1988EM.4.1822] [CORP1988EM.4.1823] [CORP1988EM.4.1824] [CORP1988EM.4.1825] [CORP1988EM.4.1826] [CORP1988EM.4.1827] [CORP1988EM.4.1828] [CORP1988EM.4.1829] [CORP1988EM.4.1830] [CORP1988EM.4.1831] [CORP1988EM.4.1832] [CORP1988EM.4.1833] [CORP1988EM.4.1834] [CORP1988EM.4.1835] [CORP1988EM.4.1836] [CORP1988EM.4.1837] [CORP1988EM.4.1838] [CORP1988EM.4.1839] [CORP1988EM.4.1840] [CORP1988EM.4.1841] [CORP1988EM.4.1842] [CORP1988EM.4.1843] [CORP1988EM.4.1844] [CORP1988EM.4.1845] [CORP1988EM.4.1846] [CORP1988EM.4.1847] [CORP1988EM.4.1848] [CORP1988EM.4.1849] [CORP1988EM.4.1850] [CORP1988EM.4.1851] [CORP1988EM.4.1852] [CORP1988EM.4.1853] [CORP1988EM.4.1854] [CORP1988EM.4.1855] [CORP1988EM.4.1856] [CORP1988EM.4.1857] [CORP1988EM.4.1858] [CORP1988EM.4.1859] [CORP1988EM.4.1860] [CORP1988EM.4.1861] [CORP1988EM.4.1862] [CORP1988EM.4.1863] [CORP1988EM.4.1864] [CORP1988EM.4.1865] [CORP1988EM.4.1866] [CORP1988EM.4.1867] [CORP1988EM.4.1868] [CORP1988EM.4.1869] [CORP1988EM.4.1870] [CORP1988EM.4.1871] [CORP1988EM.4.1872] [CORP1988EM.4.1873] [CORP1988EM.4.1874] [CORP1988EM.4.1875] [CORP1988EM.4.1876] [CORP1988EM.4.1877] [CORP1988EM.4.1878] [CORP1988EM.4.1879] [CORP1988EM.4.1880] [CORP1988EM.4.1881] [CORP1988EM.4.1882] [CORP1988EM.4.1883] [CORP1988EM.4.1884] [CORP1988EM.4.1885] [CORP1988EM.4.1886] [CORP1988EM.4.1887] [CORP1988EM.4.1888] [CORP1988EM.4.1889] [CORP1988EM.4.1890] [CORP1988EM.4.1891] [CORP1988EM.4.1892] [CORP1988EM.4.1893] [CORP1988EM.4.1894] [CORP1988EM.4.1895] [CORP1988EM.4.1896] [CORP1988EM.4.1897] [CORP1988EM.4.1898] [CORP1988EM.4.1899] [CORP1988EM.4.1900] [CORP1988EM.4.1901] [CORP1988EM.4.1902] [CORP1988EM.4.1903] [CORP1988EM.4.1904] [CORP1988EM.4.1905] [CORP1988EM.4.1906] [CORP1988EM.4.1907] [CORP1988EM.4.1908] [CORP1988EM.4.1909] [CORP1988EM.4.1910] [CORP1988EM.4.1911] [CORP1988EM.4.1912] [CORP1988EM.4.1913] [CORP1988EM.4.1914] [CORP1988EM.4.1915] [CORP1988EM.4.1916] [CORP1988EM.4.1917] [CORP1988EM.4.1918] [CORP1988EM.4.1919] [CORP1988EM.4.1920] [CORP1988EM.4.1921] [CORP1988EM.4.1922] [CORP1988EM.4.1923] [CORP1988EM.4.1924] [CORP1988EM.4.1925] [CORP1988EM.4.1926] [CORP1988EM.4.1927] [CORP1988EM.4.1928] [CORP1988EM.4.1929] [CORP1988EM.4.1930] [CORP1988EM.4.1931] [CORP1988EM.4.1932] [CORP1988EM.4.1933] [CORP1988EM.4.1934] [CORP1988EM.4.1935] [CORP1988EM.4.1936] [CORP1988EM.4.1937] [CORP1988EM.4.1938] [CORP1988EM.4.1939] [CORP1988EM.4.1940] [CORP1988EM.4.1941] [CORP1988EM.4.1942] [CORP1988EM.4.1943] [CORP1988EM.4.1944] [CORP1988EM.4.1945] [CORP1988EM.4.1946] [CORP1988EM.4.1947] [CORP1988EM.4.1948] [CORP1988EM.4.1949] [CORP1988EM.4.1950] [CORP1988EM.4.1951] [CORP1988EM.4.1952] [CORP1988EM.4.1953] [CORP1988EM.4.1954] [CORP1988EM.4.1955] [CORP1988EM.4.1956] [CORP1988EM.4.1957] [CORP1988EM.4.1958] [CORP1988EM.4.1959] [CORP1988EM.4.1960] [CORP1988EM.4.1961] [CORP1988EM.4.1962] [CORP1988EM.4.1963] [CORP1988EM.4.1964] [CORP1988EM.4.1965] [CORP1988EM.4.1966] [CORP1988EM.4.1967] [CORP1988EM.4.1968] [CORP1988EM.4.1969] [CORP1988EM.4.1970] [CORP1988EM.4.1971] [CORP1988EM.4.1972] [CORP1988EM.4.1973] [CORP1988EM.4.1974] [CORP1988EM.4.1975] [CORP1988EM.4.1976] [CORP1988EM.4.1977] [CORP1988EM.4.1978] [CORP1988EM.4.1979] [CORP1988EM.4.1980] [CORP1988EM.4.1981] [CORP1988EM.4.1982] [CORP1988EM.4.1983] [CORP1988EM.4.1984] [CORP1988EM.4.1985] [CORP1988EM.4.1986] [CORP1988EM.4.1987] [CORP1988EM.4.1988] CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS [CORP1988EM.4.1989] [CORP1988EM.4.1990] [CORP1988EM.4.1991] [CORP1988EM.4.1992] [CORP1988EM.4.1993] [CORP1988EM.4.1994] [CORP1988EM.4.1995] [CORP1988EM.4.1996] [CORP1988EM.4.1997] [CORP1988EM.4.1998] [CORP1988EM.4.1999] [CORP1988EM.4.2000] [CORP1988EM.4.2001] [CORP1988EM.4.2002] [CORP1988EM.4.2003] [CORP1988EM.4.2004] [CORP1988EM.4.2005] [CORP1988EM.4.2006] [CORP1988EM.4.2007] [CORP1988EM.4.2008] [CORP1988EM.4.2009] [CORP1988EM.4.2010] [CORP1988EM.4.2011] [CORP1988EM.4.2012] [CORP1988EM.4.2013] [CORP1988EM.4.2014] [CORP1988EM.4.2015] [CORP1988EM.4.2016] [CORP1988EM.4.2017] [CORP1988EM.4.2018] [CORP1988EM.4.2019] [CORP1988EM.4.2020] [CORP1988EM.4.2021] [CORP1988EM.4.2022] [CORP1988EM.4.2023] [CORP1988EM.4.2024] [CORP1988EM.4.2025] [CORP1988EM.4.2026] [CORP1988EM.4.2027] [CORP1988EM.4.2028] [CORP1988EM.4.2029] [CORP1988EM.4.2030] [CORP1988EM.4.2031] [CORP1988EM.4.2032] [CORP1988EM.4.2033] [CORP1988EM.4.2034] [CORP1988EM.4.2035] [CORP1988EM.4.2036] [CORP1988EM.4.2037] [CORP1988EM.4.2038] [CORP1988EM.4.2039] [CORP1988EM.4.2040] [CORP1988EM.4.2041] [CORP1988EM.4.2042] [CORP1988EM.4.2043] [CORP1988EM.4.2044] [CORP1988EM.4.2045] [CORP1988EM.4.2046] [CORP1988EM.4.2047] [CORP1988EM.4.2048] [CORP1988EM.4.2049] [CORP1988EM.4.2050] [CORP1988EM.4.2051] [CORP1988EM.4.2052] [CORP1988EM.4.2053] [CORP1988EM.4.2054] [CORP1988EM.4.2055] [CORP1988EM.4.2056] [CORP1988EM.4.2057] [CORP1988EM.4.2058] [CORP1988EM.4.2059] [CORP1988EM.4.2060] [CORP1988EM.4.2061] [CORP1988EM.4.2062] [CORP1988EM.4.2063] [CORP1988EM.4.2064] [CORP1988EM.4.2065] [CORP1988EM.4.2066] [CORP1988EM.4.2067] [CORP1988EM.4.2068] [CORP1988EM.4.2069] [CORP1988EM.4.2070] [CORP1988EM.4.2071] [CORP1988EM.4.2072] [CORP1988EM.4.2073] [CORP1988EM.4.2074] [CORP1988EM.4.2075] [CORP1988EM.4.2076] PART 6.4 — TAKEOVER ANNOUNCEMENTS [CORP1988EM.4.2077] [CORP1988EM.4.2078] [CORP1988EM.4.2079] [CORP1988EM.4.2080] [CORP1988EM.4.2081] [CORP1988EM.4.2082] [CORP1988EM.4.2083] [CORP1988EM.4.2084] [CORP1988EM.4.2085] [CORP1988EM.4.2086] [CORP1988EM.4.2087] [CORP1988EM.4.2088] [CORP1988EM.4.2089] [CORP1988EM.4.2090] [CORP1988EM.4.2091] [CORP1988EM.4.2092] [CORP1988EM.4.2093] [CORP1988EM.4.2094] [CORP1988EM.4.2095] [CORP1988EM.4.2096] [CORP1988EM.4.2097] [CORP1988EM.4.2098] [CORP1988EM.4.2099] [CORP1988EM.4.2100] [CORP1988EM.4.2101] [CORP1988EM.4.2102] [CORP1988EM.4.2103] [CORP1988EM.4.2104] [CORP1988EM.4.2105] [CORP1988EM.4.2106] [CORP1988EM.4.2107] [CORP1988EM.4.2108] [CORP1988EM.4.2109] [CORP1988EM.4.2110] [CORP1988EM.4.2111] [CORP1988EM.4.2112] [CORP1988EM.4.2113] PART 6.5 — PROVISIONS RELATING TO BOTH TAKEOVER OFFERS AND TAKEOVER ANNOUNCEMENTS [CORP1988EM.4.2114] [CORP1988EM.4.2115] [CORP1988EM.4.2116] [CORP1988EM.4.2117] [CORP1988EM.4.2118] [CORP1988EM.4.2119] [CORP1988EM.4.2120] [CORP1988EM.4.2121] [CORP1988EM.4.2122] [CORP1988EM.4.2123] [CORP1988EM.4.2124] [CORP1988EM.4.2125] [CORP1988EM.4.2126] [CORP1988EM.4.2127] [CORP1988EM.4.2128] [CORP1988EM.4.2129] [CORP1988EM.4.2130] [CORP1988EM.4.2131] [CORP1988EM.4.2132] [CORP1988EM.4.2133] [CORP1988EM.4.2134] [CORP1988EM.4.2135] [CORP1988EM.4.2136] [CORP1988EM.4.2137] [CORP1988EM.4.2138] [CORP1988EM.4.2139] [CORP1988EM.4.2140] [CORP1988EM.4.2141] [CORP1988EM.4.2142] [CORP1988EM.4.2143] [CORP1988EM.4.2144] [CORP1988EM.4.2145] [CORP1988EM.4.2146] [CORP1988EM.4.2147] [CORP1988EM.4.2148] [CORP1988EM.4.2149] [CORP1988EM.4.2150] [CORP1988EM.4.2151] [CORP1988EM.4.2152] [CORP1988EM.4.2153] [CORP1988EM.4.2154] [CORP1988EM.4.2155] [CORP1988EM.4.2156] [CORP1988EM.4.2157] [CORP1988EM.4.2158] [CORP1988EM.4.2159] [CORP1988EM.4.2160] [CORP1988EM.4.2161] [CORP1988EM.4.2162] [CORP1988EM.4.2163] [CORP1988EM.4.2164] [CORP1988EM.4.2165] [CORP1988EM.4.2166] PART 6.6 — LIABILITY FOR MIS-STATEMENTS [CORP1988EM.4.2167] [CORP1988EM.4.2168] [CORP1988EM.4.2169] [CORP1988EM.4.2170] [CORP1988EM.4.2171] [CORP1988EM.4.2172] [CORP1988EM.4.2173] [CORP1988EM.4.2174] [CORP1988EM.4.2175] [CORP1988EM.4.2176] [CORP1988EM.4.2177] [CORP1988EM.4.2178] PART 6.7 — SUBSTANTIAL SHAREHOLDINGS [CORP1988EM.4.2179] [CORP1988EM.4.2180] [CORP1988EM.4.2181] [CORP1988EM.4.2182] [CORP1988EM.4.2183] [CORP1988EM.4.2184] [CORP1988EM.4.2185] [CORP1988EM.4.2186] [CORP1988EM.4.2187] [CORP1988EM.4.2188] [CORP1988EM.4.2189] [CORP1988EM.4.2190] [CORP1988EM.4.2191] [CORP1988EM.4.2192] [CORP1988EM.4.2193] [CORP1988EM.4.2194] [CORP1988EM.4.2195] [CORP1988EM.4.2196] [CORP1988EM.4.2197] [CORP1988EM.4.2198] [CORP1988EM.4.2199] [CORP1988EM.4.2200] [CORP1988EM.4.2201] [CORP1988EM.4.2202] [CORP1988EM.4.2203] [CORP1988EM.4.2204] [CORP1988EM.4.2205] [CORP1988EM.4.2206] [CORP1988EM.4.2207] [CORP1988EM.4.2208] [CORP1988EM.4.2209] [CORP1988EM.4.2210] [CORP1988EM.4.2211] [CORP1988EM.4.2212] PART 6.8 — POWER OF COMMISSION TO OBTAIN INFORMATION AS TO BENEFICIAL OWNERSHIP OF SHARES [CORP1988EM.4.2213] [CORP1988EM.4.2214] [CORP1988EM.4.2215] [CORP1988EM.4.2216] [CORP1988EM.4.2217] [CORP1988EM.4.2218] [CORP1988EM.4.2219] [CORP1988EM.4.2220] [CORP1988EM.4.2221] [CORP1988EM.4.2222] [CORP1988EM.4.2223] [CORP1988EM.4.2224] [CORP1988EM.4.2225] [CORP1988EM.4.2226] [CORP1988EM.4.2227] [CORP1988EM.4.2228] [CORP1988EM.4.2229] [CORP1988EM.4.2230] [CORP1988EM.4.2231] [CORP1988EM.4.2232] [CORP1988EM.4.2233] [CORP1988EM.4.2234] [CORP1988EM.4.2235] [CORP1988EM.4.2236] [CORP1988EM.4.2237] [CORP1988EM.4.2238] [CORP1988EM.4.2239] PART 6.9 — POWERS OF COMMISSION AND ANCILLARY POWERS OF COURT [CORP1988EM.4.2240] [CORP1988EM.4.2241] [CORP1988EM.4.2242] [CORP1988EM.4.2243] [CORP1988EM.4.2244] [CORP1988EM.4.2245] [CORP1988EM.4.2246] [CORP1988EM.4.2247] [CORP1988EM.4.2248] [CORP1988EM.4.2249] [CORP1988EM.4.2250] [CORP1988EM.4.2251] [CORP1988EM.4.2252] [CORP1988EM.4.2253] [CORP1988EM.4.2254] [CORP1988EM.4.2255] [CORP1988EM.4.2256] [CORP1988EM.4.2257] [CORP1988EM.4.2258] [CORP1988EM.4.2259] [CORP1988EM.4.2260] [CORP1988EM.4.2261] [CORP1988EM.4.2262] [CORP1988EM.4.2263] [CORP1988EM.4.2264] PART 6.10 — POWERS OF COURT [CORP1988EM.4.2265] [CORP1988EM.4.2266] [CORP1988EM.4.2267] [CORP1988EM.4.2268] [CORP1988EM.4.2269] [CORP1988EM.4.2270] [CORP1988EM.4.2271] [CORP1988EM.4.2272] [CORP1988EM.4.2273] [CORP1988EM.4.2274] [CORP1988EM.4.2275] [CORP1988EM.4.2276] [CORP1988EM.4.2277] [CORP1988EM.4.2278] [CORP1988EM.4.2279] [CORP1988EM.4.2280] [CORP1988EM.4.2281] [CORP1988EM.4.2282] [CORP1988EM.4.2283] [CORP1988EM.4.2284] [CORP1988EM.4.2285] [CORP1988EM.4.2286] [CORP1988EM.4.2287] [CORP1988EM.4.2288] [CORP1988EM.4.2289] [CORP1988EM.4.2290] PART 6.11 — MISCELLANEOUS [CORP1988EM.4.2291] [CORP1988EM.4.2292] [CORP1988EM.4.2293] [CORP1988EM.4.2294] [CORP1988EM.4.2295] [CORP1988EM.4.2296] [CORP1988EM.4.2297] [CORP1988EM.4.2298] [CORP1988EM.4.2299] [CORP1988EM.4.2300] [CORP1988EM.4.2301] [CORP1988EM.4.2302] [CORP1988EM.4.2303] [CORP1988EM.4.2304] PART 6.12 — STATEMENTS [CORP1988EM.4.2305] [CORP1988EM.4.2306] [CORP1988EM.4.2307] [CORP1988EM.4.2308] [CORP1988EM.4.2309] [CORP1988EM.4.2310] [CORP1988EM.4.2311] [CORP1988EM.4.2312] [CORP1988EM.4.2313] [CORP1988EM.4.2314] [CORP1988EM.4.2315] [CORP1988EM.4.2316] [CORP1988EM.4.2317] PART 6.13 — TRANSITIONAL [CORP1988EM.4.2318] [CORP1988EM.4.2319] [CORP1988EM.4.2320] [CORP1988EM.4.2321] [CORP1988EM.4.2322] [CORP1988EM.4.2323] [CORP1988EM.4.2324] [CORP1988EM.4.2325] [CORP1988EM.4.2326] [CORP1988EM.4.2327] CHAPTER 7 — SECURITIES [CORP1988EM.4.2328] [CORP1988EM.4.2329] [CORP1988EM.4.2330] [CORP1988EM.4.2331] [CORP1988EM.4.2332] PART 7.1 — INTERPRETATION [CORP1988EM.4.2333] [CORP1988EM.4.2334] [CORP1988EM.4.2335] [CORP1988EM.4.2336] [CORP1988EM.4.2337] [CORP1988EM.4.2338] [CORP1988EM.4.2339] [CORP1988EM.4.2340] [CORP1988EM.4.2341] [CORP1988EM.4.2342] [CORP1988EM.4.2343] [CORP1988EM.4.2344] [CORP1988EM.4.2345] [CORP1988EM.4.2346] [CORP1988EM.4.2347] PART 7.2 — SECURITIES EXCHANGES [CORP1988EM.4.2348] [CORP1988EM.4.2349] [CORP1988EM.4.2350] [CORP1988EM.4.2351] [CORP1988EM.4.2352] [CORP1988EM.4.2353] [CORP1988EM.4.2354] [CORP1988EM.4.2355] [CORP1988EM.4.2356] [CORP1988EM.4.2357] [CORP1988EM.4.2358] [CORP1988EM.4.2359] [CORP1988EM.4.2360] [CORP1988EM.4.2361] [CORP1988EM.4.2362] [CORP1988EM.4.2363] [CORP1988EM.4.2364] [CORP1988EM.4.2365] [CORP1988EM.4.2366] [CORP1988EM.4.2367] [CORP1988EM.4.2368] [CORP1988EM.4.2369] [CORP1988EM.4.2370] [CORP1988EM.4.2371] [CORP1988EM.4.2372] [CORP1988EM.4.2373] [CORP1988EM.4.2374] [CORP1988EM.4.2375] [CORP1988EM.4.2376] [CORP1988EM.4.2377] [CORP1988EM.4.2378] [CORP1988EM.4.2379] [CORP1988EM.4.2380] [CORP1988EM.4.2381] [CORP1988EM.4.2382] [CORP1988EM.4.2383] [CORP1988EM.4.2384] [CORP1988EM.4.2385] PART 7.3 — PARTICIPANTS IN THE SECURITIES INDUSTRY [CORP1988EM.4.2386] [CORP1988EM.4.2387] [CORP1988EM.4.2388] [CORP1988EM.4.2389] [CORP1988EM.4.2390] [CORP1988EM.4.2391] [CORP1988EM.4.2392] [CORP1988EM.4.2393] [CORP1988EM.4.2394] [CORP1988EM.4.2395] [CORP1988EM.4.2396] [CORP1988EM.4.2397] [CORP1988EM.4.2398] [CORP1988EM.4.2399] [CORP1988EM.4.2400] [CORP1988EM.4.2401] [CORP1988EM.4.2402] [CORP1988EM.4.2403] [CORP1988EM.4.2404] [CORP1988EM.4.2405] [CORP1988EM.4.2406] [CORP1988EM.4.2407] [CORP1988EM.4.2408] [CORP1988EM.4.2409] [CORP1988EM.4.2410] [CORP1988EM.4.2411] [CORP1988EM.4.2412] [CORP1988EM.4.2413] [CORP1988EM.4.2414] [CORP1988EM.4.2415] [CORP1988EM.4.2416] [CORP1988EM.4.2417] [CORP1988EM.4.2418] [CORP1988EM.4.2419] [CORP1988EM.4.2420] [CORP1988EM.4.2421] [CORP1988EM.4.2422] [CORP1988EM.4.2423] [CORP1988EM.4.2424] [CORP1988EM.4.2425] [CORP1988EM.4.2426] [CORP1988EM.4.2427] [CORP1988EM.4.2428] [CORP1988EM.4.2429] [CORP1988EM.4.2430] [CORP1988EM.4.2431] [CORP1988EM.4.2432] [CORP1988EM.4.2433] [CORP1988EM.4.2434] [CORP1988EM.4.2435] [CORP1988EM.4.2436] [CORP1988EM.4.2437] [CORP1988EM.4.2438] [CORP1988EM.4.2439] [CORP1988EM.4.2440] [CORP1988EM.4.2441] [CORP1988EM.4.2442] [CORP1988EM.4.2443] [CORP1988EM.4.2444] [CORP1988EM.4.2445] [CORP1988EM.4.2446] [CORP1988EM.4.2447] [CORP1988EM.4.2448] [CORP1988EM.4.2449] [CORP1988EM.4.2452] [CORP1988EM.4.2451] [CORP1988EM.4.2452] [CORP1988EM.4.2453] [CORP1988EM.4.2454] [CORP1988EM.4.2455] [CORP1988EM.4.2456] [CORP1988EM.4.2457] [CORP1988EM.4.2458] [CORP1988EM.4.2459] [CORP1988EM.4.2460] [CORP1988EM.4.2461] [CORP1988EM.4.2462] [CORP1988EM.4.2463] [CORP1988EM.4.2464] [CORP1988EM.4.2465] [CORP1988EM.4.2466] [CORP1988EM.4.2467] [CORP1988EM.4.2468] [CORP1988EM.4.2469] [CORP1988EM.4.2470] [CORP1988EM.4.2471] [CORP1988EM.4.2472] [CORP1988EM.4.2473] [CORP1988EM.4.2474] [CORP1988EM.4.2475] [CORP1988EM.4.2476] [CORP1988EM.4.2477] [CORP1988EM.4.2478] [CORP1988EM.4.2479] [CORP1988EM.4.2480] [CORP1988EM.4.2481] [CORP1988EM.4.2482] [CORP1988EM.4.2483] [CORP1988EM.4.2484] [CORP1988EM.4.2485] [CORP1988EM.4.2486] [CORP1988EM.4.2487] [CORP1988EM.4.2488] [CORP1988EM.4.2489] [CORP1988EM.4.2490] [CORP1988EM.4.2491] [CORP1988EM.4.2492] [CORP1988EM.4.2493] [CORP1988EM.4.2494] [CORP1988EM.4.2495] [CORP1988EM.4.2496] [CORP1988EM.4.2497] [CORP1988EM.4.2498] [CORP1988EM.4.2499] [CORP1988EM.4.2500] [CORP1988EM.4.2501] [CORP1988EM.4.2502] [CORP1988EM.4.2503] [CORP1988EM.4.2504] [CORP1988EM.4.2505] [CORP1988EM.4.2506] [CORP1988EM.4.2507] [CORP1988EM.4.2508] [CORP1988EM.4.2509] [CORP1988EM.4.2510] [CORP1988EM.4.2511] [CORP1988EM.4.2512] [CORP1988EM.4.2513] [CORP1988EM.4.2514] [CORP1988EM.4.2515] [CORP1988EM.4.2516] [CORP1988EM.4.2517] [CORP1988EM.4.2518] [CORP1988EM.4.2519] [CORP1988EM.4.2550] [CORP1988EM.4.2521] [CORP1988EM.4.2522] [CORP1988EM.4.2523] [CORP1988EM.4.2524] [CORP1988EM.4.2525] [CORP1988EM.4.2526] [CORP1988EM.4.2527] [CORP1988EM.4.2528] [CORP1988EM.4.2529] [CORP1988EM.4.2530] [CORP1988EM.4.2531] [CORP1988EM.4.2532] [CORP1988EM.4.2533] [CORP1988EM.4.2534] [CORP1988EM.4.2535] [CORP1988EM.4.2536] [CORP1988EM.4.2537] [CORP1988EM.4.2538] [CORP1988EM.4.2539] [CORP1988EM.4.2540] [CORP1988EM.4.2541] [CORP1988EM.4.2542] [CORP1988EM.4.2543] [CORP1988EM.4.244] [CORP1988EM.4.245] [CORP1988EM.4.2546] [CORP1988EM.4.2547] [CORP1988EM.4.2548] [CORP1988EM.4.2549] [CORP1988EM.4.2550] [CORP1988EM.4.2551] [CORP1988EM.4.2552] [CORP1988EM.4.2553] PART 7.4 — CONDUCT OF SECURITIES BUSINESS [CORP1988EM.4.2554] [CORP1988EM.4.2555] [CORP1988EM.4.2556] [CORP1988EM.4.2557] [CORP1988EM.4.2558] [CORP1988EM.4.2559] [CORP1988EM.4.2560] [CORP1988EM.4.2561] [CORP1988EM.4.2562] [CORP1988EM.4.2563] [CORP1988EM.4.2564] [CORP1988EM.4.2565] [CORP1988EM.4.2566] [CORP1988EM.4.2567] [CORP1988EM.4.2568] [CORP1988EM.4.2569] [CORP1988EM.4.2570] [CORP1988EM.4.2571] [CORP1988EM.4.2572] [CORP1988EM.4.2573] [CORP1988EM.4.2574] [CORP1988EM.4.2575] [CORP1988EM.4.2576] [CORP1988EM.4.2577] [CORP1988EM.4.2578] [CORP1988EM.4.2579] [CORP1988EM.4.2580] [CORP1988EM.4.2581] [CORP1988EM.4.2582] [CORP1988EM.4.2583] [CORP1988EM.4.2584] [CORP1988EM.4.2585] [CORP1988EM.4.2586] CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS [CORP1988EM.4.2587] [CORP1988EM.4.2588] [CORP1988EM.4.2589] [CORP1988EM.4.2590] PART 7.5 — DEALERS' ACCOUNTS AND AUDIT [CORP1988EM.4.2591] [CORP1988EM.4.2592] [CORP1988EM.4.2593] [CORP1988EM.4.2594] [CORP1988EM.4.2595] [CORP1988EM.4.2596] [CORP1988EM.4.2597] [CORP1988EM.4.2598] [CORP1988EM.4.2599] [CORP1988EM.4.2600] [CORP1988EM.4.2601] [CORP1988EM.4.2602] [CORP1988EM.4.2603] [CORP1988EM.4.2604] [CORP1988EM.4.2605] [CORP1988EM.4.2606] [CORP1988EM.4.2607] [CORP1988EM.4.2608] [CORP1988EM.4.2609] [CORP1988EM.4.2610] [CORP1988EM.4.2611] [CORP1988EM.4.2612] [CORP1988EM.4.2613] [CORP1988EM.4.2614] [CORP1988EM.4.2615] [CORP1988EM.4.2616] [CORP1988EM.4.2617] [CORP1988EM.4.2618] [CORP1988EM.4.2619] PART 7.6 — MONEY AND SCRIP OF DEALERS' CLIENTS [CORP1988EM.4.2620] [CORP1988EM.4.2621] [CORP1988EM.4.2622] [CORP1988EM.4.2623] [CORP1988EM.4.2624] [CORP1988EM.4.2625] [CORP1988EM.4.2626] [CORP1988EM.4.2627] [CORP1988EM.4.2628] [CORP1988EM.4.2629] [CORP1988EM.4.2630] [CORP1988EM.4.2631] [CORP1988EM.4.2632] [CORP1988EM.4.2633] [CORP1988EM.4.2634] [CORP1988EM.4.2635] [CORP1988EM.4.2636] [CORP1988EM.4.2637] [CORP1988EM.4.2638] [CORP1988EM.4.2639] [CORP1988EM.4.2640] [CORP1988EM.4.2641] [CORP1988EM.4.2642] [CORP1988EM.4.2643] [CORP1988EM.4.2644] [CORP1988EM.4.2645] [CORP1988EM.4.2646] [CORP1988EM.4.2647] [CORP1988EM.4.2648] [CORP1988EM.4.2649] [CORP1988EM.4.2650] [CORP1988EM.4.2651] [CORP1988EM.4.2652] [CORP1988EM.4.2653] PART 7.7 — REGISTERS OF INTERESTS IN SECURITIES [CORP1988EM.4.2654] [CORP1988EM.4.2655] [CORP1988EM.4.2656] [CORP1988EM.4.2657] [CORP1988EM.4.2658] [CORP1988EM.4.2659] [CORP1988EM.4.2660] [CORP1988EM.4.2661] [CORP1988EM.4.2662] [CORP1988EM.4.2663] [CORP1988EM.4.2664] [CORP1988EM.4.2665] [CORP1988EM.4.2666] [CORP1988EM.4.2667] [CORP1988EM.4.2668] [CORP1988EM.4.2669] [CORP1988EM.4.2670] [CORP1988EM.4.2671] [CORP1988EM.4.2672] [CORP1988EM.4.2673] [CORP1988EM.4.2674] [CORP1988EM.4.2675] [CORP1988EM.4.2676] PART 7.8 — DEPOSITS WITH STOCK EXCHANGES [CORP1988EM.4.2677] [CORP1988EM.4.2678] [CORP1988EM.4.2679] [CORP1988EM.4.2680] [CORP1988EM.4.2681] [CORP1988EM.4.2682] [CORP1988EM.4.2683] [CORP1988EM.4.2684] [CORP1988EM.4.2685] [CORP1988EM.4.2686] [CORP1988EM.4.2687] [CORP1988EM.4.2688] [CORP1988EM.4.2689] [CORP1988EM.4.2690] [CORP1988EM.4.2691] [CORP1988EM.4.2692] [CORP1988EM.4.2693] PART 7.9 — FIDELITY FUNDS [CORP1988EM.4.2694] [CORP1988EM.4.2695] [CORP1988EM.4.2696] [CORP1988EM.4.2697] [CORP1988EM.4.2698] [CORP1988EM.4.2699] [CORP1988EM.4.2700] [CORP1988EM.4.2701] [CORP1988EM.4.2702] [CORP1988EM.4.270] [CORP1988EM.4.2704] [CORP1988EM.4.2705] [CORP1988EM.4.2706] [CORP1988EM.4.2707] [CORP1988EM.4.2708] [CORP1988EM.4.2709] [CORP1988EM.4.2710] [CORP1988EM.4.2711] [CORP1988EM.4.2712] [CORP1988EM.4.2713] [CORP1988EM.4.2714] [CORP1988EM.4.2715] [CORP1988EM.4.2716] [CORP1988EM.4.2717] [CORP1988EM.4.2718] [CORP1988EM.4.2719] [CORP1988EM.4.2720] [CORP1988EM.4.2721] [CORP1988EM.4.2722] [CORP1988EM.4.2723] [CORP1988EM.4.2724] [CORP1988EM.4.2725] [CORP1988EM.4.2726] [CORP1988EM.4.2727] [CORP1988EM.4.2728] [CORP1988EM.4.2729] [CORP1988EM.4.2730] [CORP1988EM.4.2731] [CORP1988EM.4.2732] [CORP1988EM.4.2733] [CORP1988EM.4.2734] [CORP1988EM.4.2735] [CORP1988EM.4.2736] [CORP1988EM.4.2737] [CORP1988EM.4.2738] [CORP1988EM.4.2739] [CORP1988EM.4.2740] [CORP1988EM.4.2741] [CORP1988EM.4.2742] [CORP1988EM.4.2743] [CORP1988EM.4.2744] [CORP1988EM.4.2745] [CORP1988EM.4.2746] [CORP1988EM.4.2747] [CORP1988EM.4.2748] [CORP1988EM.4.2749] [CORP1988EM.4.2750] [CORP1988EM.4.2751] [CORP1988EM.4.2752] [CORP1988EM.4.2753] [CORP1988EM.4.2754] [CORP1988EM.4.2755] [CORP1988EM.4.2756] PART 7.10 — THE NATIONAL GUARANTEE FUND [CORP1988EM.4.2757] [CORP1988EM.4.2758] [CORP1988EM.4.2759] [CORP1988EM.4.2760] [CORP1988EM.4.2761] [CORP1988EM.4.2762] [CORP1988EM.4.2763] [CORP1988EM.4.2764] [CORP1988EM.4.2765] [CORP1988EM.4.2766] [CORP1988EM.4.2767] [CORP1988EM.4.2768] [CORP1988EM.4.2769] [CORP1988EM.4.2770] [CORP1988EM.4.2771] [CORP1988EM.4.2772] [CORP1988EM.4.2773] [CORP1988EM.4.2774] [CORP1988EM.4.2775] [CORP1988EM.4.2776] [CORP1988EM.4.2777] [CORP1988EM.4.2778] [CORP1988EM.4.2779] [CORP1988EM.4.2780] [CORP1988EM.4.2781] [CORP1988EM.4.2782] [CORP1988EM.4.2783] [CORP1988EM.4.2784] [CORP1988EM.4.2785] [CORP1988EM.4.2786] [CORP1988EM.4.2787] [CORP1988EM.4.2788] [CORP1988EM.4.2789] [CORP1988EM.4.2790] [CORP1988EM.4.2791] [CORP1988EM.4.2792] [CORP1988EM.4.2793] [CORP1988EM.4.2794] [CORP1988EM.4.27195] [CORP1988EM.4.2796] [CORP1988EM.4.2797] [CORP1988EM.4.2798] [CORP1988EM.4.2799] [CORP1988EM.4.2800] [CORP1988EM.4.2801] [CORP1988EM.4.2802] [CORP1988EM.4.2803] [CORP1988EM.4.2804] [CORP1988EM.4.2805] [CORP1988EM.4.2806] [CORP1988EM.4.2807] [CORP1988EM.4.2808] [CORP1988EM.4.2809] [CORP1988EM.4.2810] [CORP1988EM.4.2811] [CORP1988EM.4.2812] [CORP1988EM.4.2813] [CORP1988EM.4.2814] [CORP1988EM.4.2815] [CORP1988EM.4.2816] [CORP1988EM.4.2817] [CORP1988EM.4.2818] [CORP1988EM.4.2819] [CORP1988EM.4.2820] [CORP1988EM.4.2821] [CORP1988EM.4.2822] [CORP1988EM.4.2823] [CORP1988EM.4.2824] [CORP1988EM.4.2825] [CORP1988EM.4.2826] [CORP1988EM.4.2827] [CORP1988EM.4.2828] [CORP1988EM.4.2829] [CORP1988EM.4.2830] [CORP1988EM.4.2831] [CORP1988EM.4.2832] [CORP1988EM.4.2833] [CORP1988EM.4.2834] [CORP1988EM.4.2835] [CORP1988EM.4.2836] [CORP1988EM.4.2837] [CORP1988EM.4.2838] [CORP1988EM.4.2839] [CORP1988EM.4.2840] [CORP1988EM.4.2841] [CORP1988EM.4.2842] [CORP1988EM.4.2843] [CORP1988EM.4.2844] [CORP1988EM.4.2845] [CORP1988EM.4.2846] [CORP1988EM.4.2847] [CORP1988EM.4.2848] [CORP1988EM.4.2849] [CORP1988EM.4.2850] [CORP1988EM.4.2851] [CORP1988EM.4.2852] [CORP1988EM.4.2853] [CORP1988EM.4.2854] [CORP1988EM.4.2855] [CORP1988EM.4.2856] [CORP1988EM.4.2857] [CORP1988EM.4.2858] [CORP1988EM.4.2859] [CORP1988EM.4.2860] [CORP1988EM.4.2861] [CORP1988EM.4.2862] [CORP1988EM.4.2863] [CORP1988EM.4.2864] [CORP1988EM.4.2865] [CORP1988EM.4.2866] [CORP1988EM.4.2867] [CORP1988EM.4.2868] [CORP1988EM.4.2869] [CORP1988EM.4.2870] [CORP1988EM.4.2871] [CORP1988EM.4.2872] [CORP1988EM.4.2873] [CORP1988EM.4.2874] [CORP1988EM.4.2875] [CORP1988EM.4.2876] [CORP1988EM.4.2877] [CORP1988EM.4.2878] [CORP1988EM.4.2879] [CORP1988EM.4.2880] [CORP1988EM.4.2881] [CORP1988EM.4.2882] [CORP1988EM.4.2883] [CORP1988EM.4.2884] [CORP1988EM.4.2885] [CORP1988EM.4.2886] [CORP1988EM.4.2887] [CORP1988EM.4.2888] [CORP1988EM.4.2889] [CORP1988EM.4.2890] [CORP1988EM.4.2891] [CORP1988EM.4.2892] [CORP1988EM.4.2893] [CORP1988EM.4.2894] [CORP1988EM.4.2895] [CORP1988EM.4.2896] [CORP1988EM.4.2897] [CORP1988EM.4.2898] [CORP1988EM.4.2899] [CORP1988EM.4.2900] [CORP1988EM.4.2901] [CORP1988EM.4.2902] [CORP1988EM.4.2903] [CORP1988EM.4.2904] [CORP1988EM.4.2905] [CORP1988EM.4.2906] [CORP1988EM.4.2907] [CORP1988EM.4.2908] [CORP1988EM.4.2909] [CORP1988EM.4.2910] [CORP1988EM.4.2911] [CORP1988EM.4.2912] [CORP1988EM.4.2913] [CORP1988EM.4.2914] [CORP1988EM.4.2915] [CORP1988EM.4.2916] [CORP1988EM.4.2917] [CORP1988EM.4.2918] [CORP1988EM.4.2919] [CORP1988EM.4.2920] [CORP1988EM.4.2921] [CORP1988EM.4.2922] [CORP1988EM.4.2923] [CORP1988EM.4.2924] [CORP1988EM.4.2925] [CORP1988EM.4.2926] [CORP1988EM.4.2927] [CORP1988EM.4.2928] [CORP1988EM.4.2929] [CORP1988EM.4.2930] [CORP1988EM.4.2931] [CORP1988EM.4.2932] [CORP1988EM.4.2933] [CORP1988EM.4.2934] [CORP1988EM.4.2935] [CORP1988EM.4.2936] [CORP1988EM.4.2937] [CORP1988EM.4.2938] [CORP1988EM.4.2939] [CORP1988EM.4.2940] [CORP1988EM.4.2941] [CORP1988EM.4.2942] [CORP1988EM.4.2943] [CORP1988EM.4.2944] [CORP1988EM.4.2945] PART 7.11 — CONDUCT IN RELATION TO SECURITIES [CORP1988EM.4.2946] [CORP1988EM.4.2947] [CORP1988EM.4.2948] [CORP1988EM.4.2949] [CORP1988EM.4.2950] [CORP1988EM.4.2951] [CORP1988EM.4.2952] [CORP1988EM.4.2953] [CORP1988EM.4.2954] [CORP1988EM.4.2955] [CORP1988EM.4.2956] [CORP1988EM.4.2957] [CORP1988EM.4.2958] [CORP1988EM.4.2959] [CORP1988EM.4.2960] [CORP1988EM.4.2961] [CORP1988EM.4.2962] [CORP1988EM.4.2963] [CORP1988EM.4.2964] [CORP1988EM.4.2965] [CORP1988EM.4.2966] [CORP1988EM.4.2967] [CORP1988EM.4.2968] [CORP1988EM.4.2969] [CORP1988EM.4.2970] [CORP1988EM.4.2971] [CORP1988EM.4.2972] [CORP1988EM.4.2973] [CORP1988EM.4.2974] [CORP1988EM.4.2975] [CORP1988EM.4.2976] [CORP1988EM.4.2977] [CORP1988EM.4.2978] [CORP1988EM.4.2979] [CORP1988EM.4.2980] [CORP1988EM.4.2981] [CORP1988EM.4.2982] [CORP1988EM.4.2983] [CORP1988EM.4.2984] [CORP1988EM.4.2985] [CORP1988EM.4.2986] [CORP1988EM.4.2987] [CORP1988EM.4.2988] [CORP1988EM.4.2989] [CORP1988EM.4.2990] [CORP1988EM.4.2991] [CORP1988EM.4.2992] [CORP1988EM.4.2993] [CORP1988EM.4.2994] [CORP1988EM.4.2995] [CORP1988EM.4.2996] [CORP1988EM.4.2997] [CORP1988EM.4.2998] [CORP1988EM.4.2999] [CORP1988EM.4.3000] [CORP1988EM.4.3001] [CORP1988EM.4.3002] [CORP1988EM.4.3003] [CORP1988EM.4.3004] [CORP1988EM.4.3005] [CORP1988EM.4.3006] [CORP1988EM.4.3007] [CORP1988EM.4.3008] [CORP1988EM.4.3009] [CORP1988EM.4.3010] [CORP1988EM.4.3011] [CORP1988EM.4.3012] [CORP1988EM.4.3013] [CORP1988EM.4.3014] [CORP1988EM.4.3015] [CORP1988EM.4.3016] [CORP1988EM.4.3017] [CORP1988EM.4.3018] [CORP1988EM.4.3019] [CORP1988EM.4.3020] [CORP1988EM.4.3021] [CORP1988EM.4.3022] [CORP1988EM.4.3023] PART 7.12: OFFERING SECURITIES FOR SUBSCRIPTION OR PURCHASE [CORP1988EM.4.3024] [CORP1988EM.4.3025] [CORP1988EM.4.3026] [CORP1988EM.4.3027] [CORP1988EM.4.3028] [CORP1988EM.4.3029] [CORP1988EM.4.3030] [CORP1988EM.4.3031] [CORP1988EM.4.3032] [CORP1988EM.4.3033] [CORP1988EM.4.3034] [CORP1988EM.4.3035] [CORP1988EM.4.3036] [CORP1988EM.4.3037] [CORP1988EM.4.3038] [CORP1988EM.4.3039] [CORP1988EM.4.3040] [CORP1988EM.4.3041] [CORP1988EM.4.3042] [CORP1988EM.4.3043] [CORP1988EM.4.3044] [CORP1988EM.4.3045] [CORP1988EM.4.3046] [CORP1988EM.4.3047] [CORP1988EM.4.3048] [CORP1988EM.4.3049] [CORP1988EM.4.3050] [CORP1988EM.4.3051] [CORP1988EM.4.3052] [CORP1988EM.4.3053] [CORP1988EM.4.3054] [CORP1988EM.4.3055] [CORP1988EM.4.3056] [CORP1988EM.4.3057] [CORP1988EM.4.3058] [CORP1988EM.4.3059] [CORP1988EM.4.3060] [CORP1988EM.4.3061] [CORP1988EM.4.3062] [CORP1988EM.4.3063] [CORP1988EM.4.3064] [CORP1988EM.4.3065] [CORP1988EM.4.3066] [CORP1988EM.4.3067] [CORP1988EM.4.3068] [CORP1988EM.4.3069] [CORP1988EM.4.3070] [CORP1988EM.4.3071] [CORP1988EM.4.3072] [CORP1988EM.4.3073] [CORP1988EM.4.3074] [CORP1988EM.4.3075] [CORP1988EM.4.3076] [CORP1988EM.4.3077] [CORP1988EM.4.3078] [CORP1988EM.4.3079] [CORP1988EM.4.3080] [CORP1988EM.4.3081] [CORP1988EM.4.3082] [CORP1988EM.4.3083] [CORP1988EM.4.3084] [CORP1988EM.4.3085] [CORP1988EM.4.3086] [CORP1988EM.4.3087] [CORP1988EM.4.3088] [CORP1988EM.4.3089] [CORP1988EM.4.3090] [CORP1988EM.4.3091] [CORP1988EM.4.3092] [CORP1988EM.4.3093] [CORP1988EM.4.3094] [CORP1988EM.4.3095] [CORP1988EM.4.3096] [CORP1988EM.4.3097] [CORP1988EM.4.3098] [CORP1988EM.4.3099] [CORP1988EM.4.3100] [CORP1988EM.4.3101] [CORP1988EM.4.3102] [CORP1988EM.4.3103] [CORP1988EM.4.3104] [CORP1988EM.4.3105] [CORP1988EM.4.3106] [CORP1988EM.4.3107] [CORP1988EM.4.3108] [CORP1988EM.4.3109] [CORP1988EM.4.3110] [CORP1988EM.4.3111] [CORP1988EM.4.3112] [CORP1988EM.4.3113] [CORP1988EM.4.3114] [CORP1988EM.4.3115] [CORP1988EM.4.3116] [CORP1988EM.4.3117] [CORP1988EM.4.3118] [CORP1988EM.4.3119] [CORP1988EM.4.3120] [CORP1988EM.4.3121] [CORP1988EM.4.3122] [CORP1988EM.4.3123] [CORP1988EM.4.3124] [CORP1988EM.4.3125] [CORP1988EM.4.3126] [CORP1988EM.4.3127] [CORP1988EM.4.3128] [CORP1988EM.4.3129] [CORP1988EM.4.3130] [CORP1988EM.4.3131] [CORP1988EM.4.3132] [CORP1988EM.4.3133] [CORP1988EM.4.3134] [CORP1988EM.4.3135] [CORP1988EM.4.3136] [CORP1988EM.4.3137] [CORP1988EM.4.3138] [CORP1988EM.4.3139] [CORP1988EM.4.3140] [CORP1988EM.4.3141] [CORP1988EM.4.3142] [CORP1988EM.4.3143] [CORP1988EM.4.3144] [CORP1988EM.4.3145] [CORP1988EM.4.3146] [CORP1988EM.4.3147] [CORP1988EM.4.3148] [CORP1988EM.4.3149] [CORP1988EM.4.3150] [CORP1988EM.4.3151] [CORP1988EM.4.3152] [CORP1988EM.4.3153] [CORP1988EM.4.3154] [CORP1988EM.4.3155] [CORP1988EM.4.3156] [CORP1988EM.4.3157] [CORP1988EM.4.3158] [CORP1988EM.4.3159] [CORP1988EM.4.3160] [CORP1988EM.4.3161] [CORP1988EM.4.3162] [CORP1988EM.4.3163] [CORP1988EM.4.3164] [CORP1988EM.4.3165] [CORP1988EM.4.3166] [CORP1988EM.4.3167] [CORP1988EM.4.3168] [CORP1988EM.4.3169] [CORP1988EM.4.3170] [CORP1988EM.4.3171] [CORP1988EM.4.3172] [CORP1988EM.4.3173] [CORP1988EM.4.3174] CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS [CORP1988EM.4.3175] [CORP1988EM.4.3176] [CORP1988EM.4.3177] [CORP1988EM.4.3178] [CORP1988EM.4.3179] [CORP1988EM.4.3180] [CORP1988EM.4.3181] [CORP1988EM.4.3182] [CORP1988EM.4.3183] [CORP1988EM.4.3184] [CORP1988EM.4.3185] [CORP1988EM.4.3186] [CORP1988EM.4.3187] [CORP1988EM.4.3188] [CORP1988EM.4.3189] [CORP1988EM.4.3190] [CORP1988EM.4.3191] [CORP1988EM.4.3192] [CORP1988EM.4.3193] [CORP1988EM.4.3194] [CORP1988EM.4.3195] [CORP1988EM.4.3196] [CORP1988EM.4.3197] [CORP1988EM.4.3198] [CORP1988EM.4.3199] [CORP1988EM.4.3200] [CORP1988EM.4.3201] [CORP1988EM.4.3202] [CORP1988EM.4.3203] [CORP1988EM.4.3204] [CORP1988EM.4.3205] [CORP1988EM.4.3206] [CORP1988EM.4.3207] [CORP1988EM.4.3208] [CORP1988EM.4.3209] [CORP1988EM.4.3210] [CORP1988EM.4.3211] [CORP1988EM.4.3212] [CORP1988EM.4.3213] [CORP1988EM.4.3214] [CORP1988EM.4.3215] [CORP1988EM.4.3216] [CORP1988EM.4.3217] [CORP1988EM.4.3218] [CORP1988EM.4.3219] [CORP1988EM.4.3220] [CORP1988EM.4.3221] [CORP1988EM.4.3222] [CORP1988EM.4.3223] [CORP1988EM.4.3224] [CORP1988EM.4.3225] [CORP1988EM.4.3226] [CORP1988EM.4.3227] [CORP1988EM.4.3228] [CORP1988EM.4.3229] [CORP1988EM.4.3230] [CORP1988EM.4.3231] [CORP1988EM.4.3232] [CORP1988EM.4.3233] [CORP1988EM.4.3234] [CORP1988EM.4.3235] [CORP1988EM.4.3236] [CORP1988EM.4.3237] [CORP1988EM.4.3238] [CORP1988EM.4.3239] [CORP1988EM.4.3240] [CORP1988EM.4.3241] [CORP1988EM.4.3242] [CORP1988EM.4.3243] [CORP1988EM.4.3244] [CORP1988EM.4.3245] PART 7.13 — TITLE TO, AND TRANSFER OF, SECURITIES [CORP1988EM.4.3246] [CORP1988EM.4.3247] [CORP1988EM.4.3248] [CORP1988EM.4.3249] [CORP1988EM.4.3250] [CORP1988EM.4.3251] [CORP1988EM.4.3252] [CORP1988EM.4.3253] [CORP1988EM.4.3254] [CORP1988EM.4.3255] [CORP1988EM.4.3256] [CORP1988EM.4.3257] [CORP1988EM.4.3258] [CORP1988EM.4.3259] [CORP1988EM.4.3260] [CORP1988EM.4.3261] [CORP1988EM.4.3262] [CORP1988EM.4.3263] [CORP1988EM.4.3264] [CORP1988EM.4.3265] [CORP1988EM.4.3266] [CORP1988EM.4.3267] [CORP1988EM.4.3268] [CORP1988EM.4.3269] [CORP1988EM.4.3270] [CORP1988EM.4.3271] [CORP1988EM.4.3272] [CORP1988EM.4.3273] [CORP1988EM.4.3274] [CORP1988EM.4.3275] [CORP1988EM.4.3276] [CORP1988EM.4.3277] [CORP1988EM.4.3278] [CORP1988EM.4.3279] [CORP1988EM.4.3280] [CORP1988EM.4.3281] [CORP1988EM.4.3282] [CORP1988EM.4.3283] [CORP1988EM.4.3284] [CORP1988EM.4.3285] [CORP1988EM.4.3286] [CORP1988EM.4.3287] [CORP1988EM.4.3288] [CORP1988EM.4.3289] [CORP1988EM.4.3290] [CORP1988EM.4.3291] [CORP1988EM.4.3292] [CORP1988EM.4.3293] [CORP1988EM.4.3294] [CORP1988EM.4.3295] [CORP1988EM.4.3296] [CORP1988EM.4.3297] [CORP1988EM.4.3298] [CORP1988EM.4.3299] [CORP1988EM.4.3300] [CORP1988EM.4.3301] [CORP1988EM.4.3302] [CORP1988EM.4.3303] [CORP1988EM.4.3304] [CORP1988EM.4.3305] [CORP1988EM.4.3306] [CORP1988EM.4.3307] [CORP1988EM.4.3308] [CORP1988EM.4.3309] [CORP1988EM.4.3310] [CORP1988EM.4.3311] [CORP1988EM.4.3312] [CORP1988EM.4.3313] [CORP1988EM.4.3314] [CORP1988EM.4.3315] [CORP1988EM.4.3316] [CORP1988EM.4.3317] [CORP1988EM.4.3318] [CORP1988EM.4.3319] [CORP1988EM.4.3320] [CORP1988EM.4.3321] [CORP1988EM.4.3322] [CORP1988EM.4.3323] [CORP1988EM.4.3324] [CORP1988EM.4.3325] [CORP1988EM.4.3326] PART 7.14 — MISCELLANEOUS [CORP1988EM.4.3327] [CORP1988EM.4.3328] [CORP1988EM.4.3329] [CORP1988EM.4.3330] [CORP1988EM.4.3331] [CORP1988EM.4.3332] [CORP1988EM.4.3333] [CORP1988EM.4.3334] [CORP1988EM.4.3335] [CORP1988EM.4.3336] [CORP1988EM.4.3337] [CORP1988EM.4.3338] [CORP1988EM.4.3339] [CORP1988EM.4.3340] [CORP1988EM.4.3341] [CORP1988EM.4.3342] [CORP1988EM.4.3343] [CORP1988EM.4.3344] [CORP1988EM.4.3345] [CORP1988EM.4.3346] [CORP1988EM.4.3347] [CORP1988EM.4.3348] [CORP1988EM.4.3349] [CORP1988EM.4.3350] [CORP1988EM.4.3351] [CORP1988EM.4.3352] [CORP1988EM.4.3353] [CORP1988EM.4.3354] [CORP1988EM.4.3355] [CORP1988EM.4.3356] [CORP1988EM.4.3357] [CORP1988EM.4.3358] [CORP1988EM.4.3359] [CORP1988EM.4.3360] [CORP1988EM.4.3361] [CORP1988EM.4.3362] [CORP1988EM.4.3363] [CORP1988EM.4.3364] [CORP1988EM.4.3365] [CORP1988EM.4.3366] [CORP1988EM.4.3367] [CORP1988EM.4.3368] [CORP1988EM.4.3369] [CORP1988EM.4.3370] [CORP1988EM.4.3371] [CORP1988EM.4.3372] [CORP1988EM.4.3373] [CORP1988EM.4.3374] [CORP1988EM.4.3375] [CORP1988EM.4.3376] [CORP1988EM.4.3377] [CORP1988EM.4.3378] [CORP1988EM.4.3379] [CORP1988EM.4.3380] [CORP1988EM.4.3381] [CORP1988EM.4.3382] [CORP1988EM.4.3383] [CORP1988EM.4.3384] [CORP1988EM.4.3385] [CORP1988EM.4.3386] [CORP1988EM.4.3387] [CORP1988EM.4.3388] [CORP1988EM.4.3389] [CORP1988EM.4.3390] [CORP1988EM.4.3391] [CORP1988EM.4.3392] [CORP1988EM.4.3393] [CORP1988EM.4.3394] [CORP1988EM.4.3395] [CORP1988EM.4.3396] [CORP1988EM.4.3397] [CORP1988EM.4.3398] [CORP1988EM.4.3399] [CORP1988EM.4.3400] [CORP1988EM.4.3401] [CORP1988EM.4.3402] [CORP1988EM.4.3403] [CORP1988EM.4.3404] [CORP1988EM.4.3405] [CORP1988EM.4.3406] [CORP1988EM.4.3407] [CORP1988EM.4.3408] [CORP1988EM.4.3409] [CORP1988EM.4.3410] [CORP1988EM.4.3411] [CORP1988EM.4.3412] [CORP1988EM.4.3413] [CORP1988EM.4.3414] [CORP1988EM.4.3415] [CORP1988EM.4.3416] [CORP1988EM.4.3417] [CORP1988EM.4.3418] [CORP1988EM.4.3419] [CORP1988EM.4.3420] [CORP1988EM.4.3421] [CORP1988EM.4.3422] [CORP1988EM.4.3423] [CORP1988EM.4.3424] [CORP1988EM.4.3425] [CORP1988EM.4.3426] [CORP1988EM.4.3427] [CORP1988EM.4.3428] [CORP1988EM.4.3429] [CORP1988EM.4.3430] [CORP1988EM.4.3431] [CORP1988EM.4.3432] [CORP1988EM.4.3433] BILL PART 8.3: PARTICIPANTS IN THE FUTURES INDUSTRY [CORP1988EM.4.3434] [CORP1988EM.4.3435] [CORP1988EM.4.3436] [CORP1988EM.4.3437] [CORP1988EM.4.3438] [CORP1988EM.4.3439] [CORP1988EM.4.3440] [CORP1988EM.4.3441] [CORP1988EM.4.3442] [CORP1988EM.4.3443] [CORP1988EM.4.3444] [CORP1988EM.4.3445] [CORP1988EM.4.3446] [CORP1988EM.4.3447] [CORP1988EM.4.3448] [CORP1988EM.4.3449] [CORP1988EM.4.3450] [CORP1988EM.4.3451] [CORP1988EM.4.3452] [CORP1988EM.4.3453] [CORP1988EM.4.3454] [CORP1988EM.4.3455] [CORP1988EM.4.3456] [CORP1988EM.4.3457] [CORP1988EM.4.3458] [CORP1988EM.4.3459] [CORP1988EM.4.3460] [CORP1988EM.4.3461] [CORP1988EM.4.3462] [CORP1988EM.4.3463] [CORP1988EM.4.3464] [CORP1988EM.4.3465] [CORP1988EM.4.3466] [CORP1988EM.4.3467] [CORP1988EM.4.3468] [CORP1988EM.4.3469] [CORP1988EM.4.3470] [CORP1988EM.4.3471] [CORP1988EM.4.3472] [CORP1988EM.4.3473] [CORP1988EM.4.3474] [CORP1988EM.4.3475] [CORP1988EM.4.3476] [CORP1988EM.4.3477] [CORP1988EM.4.3478] [CORP1988EM.4.3479] [CORP1988EM.4.3480] [CORP1988EM.4.3481] [CORP1988EM.4.3482] [CORP1988EM.4.3483] [CORP1988EM.4.3484] [CORP1988EM.4.3485] [CORP1988EM.4.3486] [CORP1988EM.4.3487] [CORP1988EM.4.3488] [CORP1988EM.4.3489] [CORP1988EM.4.3490] [CORP1988EM.4.3491] [CORP1988EM.4.3492] [CORP1988EM.4.3493] [CORP1988EM.4.3494] [CORP1988EM.4.3495] [CORP1988EM.4.3496] [CORP1988EM.4.3497] [CORP1988EM.4.3498] [CORP1988EM.4.3499] [CORP1988EM.4.3500] [CORP1988EM.4.3501] [CORP1988EM.4.3502] [CORP1988EM.4.3503] [CORP1988EM.4.3504] [CORP1988EM.4.3505] [CORP1988EM.4.3506] [CORP1988EM.4.3507] [CORP1988EM.4.3508] [CORP1988EM.4.3509] [CORP1988EM.4.3510] [CORP1988EM.4.3511] [CORP1988EM.4.3512] [CORP1988EM.4.3513] [CORP1988EM.4.3514] [CORP1988EM.4.3515] [CORP1988EM.4.3516] [CORP1988EM.4.3517] [CORP1988EM.4.3518] [CORP1988EM.4.3519] [CORP1988EM.4.3520] [CORP1988EM.4.3521] [CORP1988EM.4.3522] [CORP1988EM.4.3523] [CORP1988EM.4.3524] [CORP1988EM.4.3525] [CORP1988EM.4.3526] [CORP1988EM.4.3527] [CORP1988EM.4.3528] [CORP1988EM.4.3529] [CORP1988EM.4.3530] [CORP1988EM.4.3531] [CORP1988EM.4.3532] [CORP1988EM.4.3533] [CORP1988EM.4.3534] [CORP1988EM.4.3535] [CORP1988EM.4.3536] [CORP1988EM.4.3537] [CORP1988EM.4.3538] [CORP1988EM.4.3539] [CORP1988EM.4.3540] [CORP1988EM.4.3541] [CORP1988EM.4.3542] [CORP1988EM.4.3543] [CORP1988EM.4.3544] [CORP1988EM.4.3545] [CORP1988EM.4.3546] [CORP1988EM.4.3547] [CORP1988EM.4.3548] [CORP1988EM.4.3549] [CORP1988EM.4.3550] [CORP1988EM.4.3551] [CORP1988EM.4.3552] [CORP1988EM.4.3553] [CORP1988EM.4.3554] [CORP1988EM.4.3555] [CORP1988EM.4.3556] [CORP1988EM.4.3557] [CORP1988EM.4.3558] [CORP1988EM.4.3559] [CORP1988EM.4.3560] [CORP1988EM.4.3561] [CORP1988EM.4.3562] [CORP1988EM.4.3563] [CORP1988EM.4.3564] [CORP1988EM.4.3565] [CORP1988EM.4.3566] [CORP1988EM.4.3567] [CORP1988EM.4.3568] [CORP1988EM.4.3569] [CORP1988EM.4.3570] [CORP1988EM.4.3571] [CORP1988EM.4.3572] [CORP1988EM.4.3573] [CORP1988EM.4.3574] [CORP1988EM.4.3575] [CORP1988EM.4.3576] [CORP1988EM.4.3577] [CORP1988EM.4.3578] [CORP1988EM.4.3579] [CORP1988EM.4.3580] [CORP1988EM.4.3581] [CORP1988EM.4.3582] [CORP1988EM.4.3583] [CORP1988EM.4.3584] [CORP1988EM.4.3585] [CORP1988EM.4.3586] [CORP1988EM.4.3587] [CORP1988EM.4.3588] [CORP1988EM.4.3589] [CORP1988EM.4.3590] [CORP1988EM.4.3591] [CORP1988EM.4.3592] [CORP1988EM.4.3593] [CORP1988EM.4.3594] [CORP1988EM.4.3595] [CORP1988EM.4.3596] [CORP1988EM.4.3597] [CORP1988EM.4.3598] [CORP1988EM.4.3599] [CORP1988EM.4.3600] [CORP1988EM.4.3601] [CORP1988EM.4.3602] [CORP1988EM.4.3603] [CORP1988EM.4.3604] [CORP1988EM.4.3605] [CORP1988EM.4.3606] [CORP1988EM.4.3607] [CORP1988EM.4.3608] [CORP1988EM.4.3609] [CORP1988EM.4.3610] [CORP1988EM.4.3611] [CORP1988EM.4.3612] [CORP1988EM.4.3613] [CORP1988EM.4.3614] [CORP1988EM.4.3615] [CORP1988EM.4.3616] [CORP1988EM.4.3617] [CORP1988EM.4.3618] [CORP1988EM.4.3619] [CORP1988EM.4.3620] [CORP1988EM.4.3621] [CORP1988EM.4.3622] [CORP1988EM.4.3623] [CORP1988EM.4.3624] [CORP1988EM.4.3625] [CORP1988EM.4.3626] [CORP1988EM.4.3627] [CORP1988EM.4.3628] [CORP1988EM.4.3629] [CORP1988EM.4.3630] [CORP1988EM.4.3631] [CORP1988EM.4.3632] [CORP1988EM.4.3633] [CORP1988EM.4.3634] [CORP1988EM.4.3635] [CORP1988EM.4.3636] [CORP1988EM.4.3637] [CORP1988EM.4.3638] [CORP1988EM.4.3639] [CORP1988EM.4.3640] [CORP1988EM.4.3641] [CORP1988EM.4.3642] [CORP1988EM.4.3643] [CORP1988EM.4.3644] [CORP1988EM.4.3645] [CORP1988EM.4.3646] [CORP1988EM.4.3647] [CORP1988EM.4.3648] [CORP1988EM.4.3649] [CORP1988EM.4.3650] [CORP1988EM.4.3651] [CORP1988EM.4.3652] [CORP1988EM.4.3653] [CORP1988EM.4.3654] [CORP1988EM.4.3655] [CORP1988EM.4.3656] [CORP1988EM.4.3657] [CORP1988EM.4.3658] [CORP1988EM.4.3659] [CORP1988EM.4.3660] [CORP1988EM.4.3661] [CORP1988EM.4.3662] [CORP1988EM.4.3663] BILL PART 8.6: FIDELITY FUNDS [CORP1988EM.4.3664] [CORP1988EM.4.3665] [CORP1988EM.4.3666] [CORP1988EM.4.3667] [CORP1988EM.4.3668] [CORP1988EM.4.3669] [CORP1988EM.4.3670] [CORP1988EM.4.3671] [CORP1988EM.4.3672] [CORP1988EM.4.3673] [CORP1988EM.4.3674] [CORP1988EM.4.3675] [CORP1988EM.4.3676] [CORP1988EM.4.3677] [CORP1988EM.4.3678] [CORP1988EM.4.3679] [CORP1988EM.4.3680] [CORP1988EM.4.3681] [CORP1988EM.4.3682] [CORP1988EM.4.3683] [CORP1988EM.4.3684] [CORP1988EM.4.3685] [CORP1988EM.4.3686] [CORP1988EM.4.3687] [CORP1988EM.4.3688] [CORP1988EM.4.3689] [CORP1988EM.4.3690] [CORP1988EM.4.3691] [CORP1988EM.4.3692] [CORP1988EM.4.3693] [CORP1988EM.4.3694] [CORP1988EM.4.3695] [CORP1988EM.4.3696] [CORP1988EM.4.3697] [CORP1988EM.4.3698] [CORP1988EM.4.3699] [CORP1988EM.4.3700] [CORP1988EM.4.3701] [CORP1988EM.4.3702] [CORP1988EM.4.3703] [CORP1988EM.4.3704] [CORP1988EM.4.3705] [CORP1988EM.4.3706] [CORP1988EM.4.3707] [CORP1988EM.4.3708] [CORP1988EM.4.3709] [CORP1988EM.4.3710] [CORP1988EM.4.3711] [CORP1988EM.4.3712] [CORP1988EM.4.3713] [CORP1988EM.4.3714] [CORP1988EM.4.3715] [CORP1988EM.4.3716] [CORP1988EM.4.3717] [CORP1988EM.4.3718] [CORP1988EM.4.3719] [CORP1988EM.4.3720] [CORP1988EM.4.3721] PART 8.7: OFFENCES [CORP1988EM.4.3722] [CORP1988EM.4.3723] [CORP1988EM.4.3724] [CORP1988EM.4.3725] [CORP1988EM.4.3726] [CORP1988EM.4.3727] [CORP1988EM.4.3728] [CORP1988EM.4.3729] [CORP1988EM.4.3730] [CORP1988EM.4.3731] [CORP1988EM.4.3732] CORPORATIONS BILL AND RELATED FEES AND LEVY BILLS [CORP1988EM.4.3733] [CORP1988EM.4.3734] [CORP1988EM.4.3735] [CORP1988EM.4.3736] [CORP1988EM.4.3737] [CORP1988EM.4.3738] [CORP1988EM.4.3739] [CORP1988EM.4.3740] [CORP1988EM.4.3741] [CORP1988EM.4.3742] [CORP1988EM.4.3743] [CORP1988EM.4.3744] [CORP1988EM.4.3745] [CORP1988EM.4.3746] [CORP1988EM.4.3747] [CORP1988EM.4.3748] [CORP1988EM.4.3749] [CORP1988EM.4.3750] [CORP1988EM.4.3751] [CORP1988EM.4.3752] [CORP1988EM.4.3753] [CORP1988EM.4.3754] [CORP1988EM.4.3755] [CORP1988EM.4.3756] [CORP1988EM.4.3757] [CORP1988EM.4.3758] [CORP1988EM.4.3759] [CORP1988EM.4.3760] [CORP1988EM.4.3761] [CORP1988EM.4.3762] [CORP1988EM.4.3763] [CORP1988EM.4.3764] [CORP1988EM.4.3765] [CORP1988EM.4.3766] BILL PART 8.8: MISCELLANEOUS [CORP1988EM.4.3767] [CORP1988EM.4.3768] [CORP1988EM.4.3769] [CORP1988EM.4.3770] [CORP1988EM.4.3771] [CORP1988EM.4.3772] [CORP1988EM.4.3773] [CORP1988EM.4.3774] [CORP1988EM.4.3775] [CORP1988EM.4.3776] [CORP1988EM.4.3777] [CORP1988EM.4.3778] [CORP1988EM.4.3779] [CORP1988EM.4.3780] [CORP1988EM.4.3781] [CORP1988EM.4.3782] CHAPTER 9 — MISCELLANEOUS PART 9.1 — REGISTERS AND REGISTRATION OF DOCUMENTS [CORP1988EM.4.3783] [CORP1988EM.4.3784] [CORP1988EM.4.3785] [CORP1988EM.4.3786] [CORP1988EM.4.3787] [CORP1988EM.4.3788] [CORP1988EM.4.3789] [CORP1988EM.4.3790] [CORP1988EM.4.3791] Part 9.2 — REGISTRATION OF AUDITORS AND LIQUIDATORS [CORP1988EM.4.3792] [CORP1988EM.4.3793] [CORP1988EM.4.3794] [CORP1988EM.4.3795] [CORP1988EM.4.3796] [CORP1988EM.4.3797] [CORP1988EM.4.3798] [CORP1988EM.4.3799] [CORP1988EM.4.3800] [CORP1988EM.4.3801] [CORP1988EM.4.3802] [CORP1988EM.4.3803] [CORP1988EM.4.3804] [CORP1988EM.4.3805] [CORP1988EM.4.3806] [CORP1988EM.4.3807] [CORP1988EM.4.3808] [CORP1988EM.4.3809] [CORP1988EM.4.3810] [CORP1988EM.4.3811] [CORP1988EM.4.3812] [CORP1988EM.4.3813] [CORP1988EM.4.3814] [CORP1988EM.4.3815] [CORP1988EM.4.3816] [CORP1988EM.4.3817] [CORP1988EM.4.3818] [CORP1988EM.4.3819] [CORP1988EM.4.3820] [CORP1988EM.4.3821] [CORP1988EM.4.3822] [CORP1988EM.4.3823] [CORP1988EM.4.3824] [CORP1988EM.4.3825] [CORP1988EM.4.3826] [CORP1988EM.4.3827] [CORP1988EM.4.3828] [CORP1988EM.4.3829] [CORP1988EM.4.3830] [CORP1988EM.4.3831] [CORP1988EM.4.3832] [CORP1988EM.4.383] [CORP1988EM.4.3834] [CORP1988EM.4.3835] [CORP1988EM.4.3836] [CORP1988EM.4.3837] [CORP1988EM.4.3838] [CORP1988EM.4.3839] [CORP1988EM.4.3840] [CORP1988EM.4.3841] [CORP1988EM.4.3842] [CORP1988EM.4.3843] [CORP1988EM.4.3844] [CORP1988EM.4.3845] [CORP1988EM.4.3846] [CORP1988EM.4.3847] [CORP1988EM.4.3848] [CORP1988EM.4.3849] [CORP1988EM.4.3850] [CORP1988EM.4.3851] [CORP1988EM.4.3852] [CORP1988EM.4.3853] [CORP1988EM.4.3854] [CORP1988EM.4.3855] [CORP1988EM.4.3856] [CORP1988EM.4.3857] [CORP1988EM.4.3858] [CORP1988EM.4.3859] [CORP1988EM.4.3860] [CORP1988EM.4.3861] [CORP1988EM.4.3862] [CORP1988EM.4.3863] [CORP1988EM.4.3864] [CORP1988EM.4.3865] [CORP1988EM.4.3866] [CORP1988EM.4.3867] [CORP1988EM.4.3868] [CORP1988EM.4.3869] [CORP1988EM.4.3870] [CORP1988EM.4.3871] [CORP1988EM.4.3872] PART 9.3 — BOOKS [CORP1988EM.4.3873] [CORP1988EM.4.3874] [CORP1988EM.4.3875] [CORP1988EM.4.3876] [CORP1988EM.4.3877] [CORP1988EM.4.3878] [CORP1988EM.4.3879] [CORP1988EM.4.3880] [CORP1988EM.4.3881] [CORP1988EM.4.3882] [CORP1988EM.4.3883] [CORP1988EM.4.3884] [CORP1988EM.4.3885] [CORP1988EM.4.3886] [CORP1988EM.4.3887] [CORP1988EM.4.3888] [CORP1988EM.4.3889] [CORP1988EM.4.3890] [CORP1988EM.4.3891] [CORP1988EM.4.3892] [CORP1988EM.4.3893] [CORP1988EM.4.3894] [CORP1988EM.4.3895] [CORP1988EM.4.3896] [CORP1988EM.4.3897] PART 9.4 — OFFENCES [CORP1988EM.4.3898] [CORP1988EM.4.3899] [CORP1988EM.4.3900] [CORP1988EM.4.3901] [CORP1988EM.4.3902] [CORP1988EM.4.3903] [CORP1988EM.4.3904] [CORP1988EM.4.3905] [CORP1988EM.4.3906] [CORP1988EM.4.3907] [CORP1988EM.4.3908] [CORP1988EM.4.3909] [CORP1988EM.4.3910] [CORP1988EM.4.3911] [CORP1988EM.4.3912] [CORP1988EM.4.3913] [CORP1988EM.4.3914] [CORP1988EM.4.3915] [CORP1988EM.4.3916] [CORP1988EM.4.3917] [CORP1988EM.4.3918] [CORP1988EM.4.3919] [CORP1988EM.4.3920] [CORP1988EM.4.3921] [CORP1988EM.4.3922] [CORP1988EM.4.3923] [CORP1988EM.4.3924] [CORP1988EM.4.3925] [CORP1988EM.4.3926] [CORP1988EM.4.3927] [CORP1988EM.4.3928] [CORP1988EM.4.3929] [CORP1988EM.4.3930] [CORP1988EM.4.3931] [CORP1988EM.4.3932] PART 9.5 — POWERS OF COURTS [CORP1988EM.4.3933] [CORP1988EM.4.3934] [CORP1988EM.4.3935] [CORP1988EM.4.3936] [CORP1988EM.4.3937] [CORP1988EM.4.3938] [CORP1988EM.4.3939] [CORP1988EM.4.3940] [CORP1988EM.4.3941] [CORP1988EM.4.3942] [CORP1988EM.4.3943] [CORP1988EM.4.3944] [CORP1988EM.4.3945] [CORP1988EM.4.3946] [CORP1988EM.4.3947] [CORP1988EM.4.3948] [CORP1988EM.4.3949] [CORP1988EM.4.3950] [CORP1988EM.4.3951] [CORP1988EM.4.3952] [CORP1988EM.4.3953] [CORP1988EM.4.3954] [CORP1988EM.4.3955] [CORP1988EM.4.3956] [CORP1988EM.4.3957] [CORP1988EM.4.3958] [CORP1988EM.4.3959] [CORP1988EM.4.3960] [CORP1988EM.4.3961] [CORP1988EM.4.3962] [CORP1988EM.4.3963] [CORP1988EM.4.3964] [CORP1988EM.4.3965] [CORP1988EM.4.3966] PART 9.6 — PROCEEDINGS [CORP1988EM.4.3967] [CORP1988EM.4.3968] [CORP1988EM.4.3969] [CORP1988EM.4.3970] [CORP1988EM.4.3971] [CORP1988EM.4.3972] [CORP1988EM.4.3973] [CORP1988EM.4.3974] [CORP1988EM.4.3975] [CORP1988EM.4.3976] [CORP1988EM.4.3977] [CORP1988EM.4.3978] [CORP1988EM.4.3979] PART 9.7: UNCLAIMED PROPERTY [CORP1988EM.4.3980] [CORP1988EM.4.3981] [CORP1988EM.4.3982] [CORP1988EM.4.3983] [CORP1988EM.4.3984] [CORP1988EM.4.3985] [CORP1988EM.4.3986] [CORP1988EM.4.3987] [CORP1988EM.4.3988] [CORP1988EM.4.3989] PART 9.8 — RULES AND REGULATIONS [CORP1988EM.4.3990] [CORP1988EM.4.3991] [CORP1988EM.4.3992] [CORP1988EM.4.3993] [CORP1988EM.4.3994] PART 9.9: MISCELLANEOUS [CORP1988EM.4.3995] [CORP1988EM.4.3996] [CORP1988EM.4.3997] [CORP1988EM.4.3998] [CORP1988EM.4.3999] [CORP1988EM.4.4000] [CORP1988EM.4.4001] [CORP1988EM.4.4002] [CORP1988EM.4.4003] [CORP1988EM.4.4004] MANAGED INVESTMENTS BILL 1997 MANAGED INVESTMENTS BILL 1997 [MIB1997EM.1] 1 Outline [MIB1997EM.1.1] [MIB1997EM.1.2] [MIB1997EM.1.3] [MIB1997EM.1.4] [MIB1997EM.1.5] [MIB1997EM.2] 2 Regulation impact statement Problem identification and regulatory objective [MIB1997EM.2.1] [MIB1997EM.2.2] Identification of alternatives [MIB1997EM.2.3] [MIB1997EM.2.4] [MIB1997EM.2.5] Administrative simplicity, economy and flexibility [MIB1997EM.2.6] [MIB1997EM.2.7] [MIB1997EM.2.8] [MIB1997EM.2.9] Consultation [MIB1997EM.2.10] Review [MIB1997EM.2.11] [MIB1997EM.3] 3 Financial impact statement [MIB1997EM.3.1] [MIB1997EM.3.2] [MIB1997EM.3.3] [MIB1997EM.3.4] [MIB1997EM.3.5] [MIB1997EM.3.6] [MIB1997EM.4] 4 Abbreviations [MIB1997EM.5] 5 Summary of key amendments proposed by the Bill [MIB1997EM.5.1] [MIB1997EM.5.2] [MIB1997EM.5.3] [MIB1997EM.5.4] [MIB1997EM.6] 6 Formal clauses Clause 1 — Short title [MIB1997EM.6.1] Clause 2 — Commencement [MIB1997EM.6.2] Clause 3 — Schedules [MIB1997EM.6.3] [MIB1997EM.7] 7 Proposed Part 5C.1 — Registration of managed investment schemes When a managed investment scheme must be registered [MIB1997EM.7.1] [MIB1997EM.7.2] [MIB1997EM.7.3] [MIB1997EM.7.4] [MIB1997EM.7.5] 20 person threshold [MIB1997EM.7.6] [MIB1997EM.7.7] [MIB1997EM.7.8] [MIB1997EM.7.9] Applying for registration [MIB1997EM.7.10] [MIB1997EM.7.11] [MIB1997EM.7.12] Registration [MIB1997EM.7.13] [MIB1997EM.7.14] [MIB1997EM.7.15] [MIB1997EM.7.16] [MIB1997EM.8] 8 Proposed Part 5C.2 — The responsible entity Proposed Division 1 — Responsibilities and powers [MIB1997EM.8.1] [MIB1997EM.8.2] [MIB1997EM.8.3] Responsible entity to operate scheme [MIB1997EM.8.4] [MIB1997EM.8.5] [MIB1997EM.8.6] [MIB1997EM.8.7] Duties of responsible entity [MIB1997EM.8.8] [MIB1997EM.8.9] [MIB1997EM.8.10] [MIB1997EM.8.11] [MIB1997EM.8.12] [MIB1997EM.8.13] [MIB1997EM.8.14] [MIB1997EM.8.15] [MIB1997EM.8.16] Duties of officers of responsible entity [MIB1997EM.8.17] [MIB1997EM.8.18] [MIB1997EM.8.19] [MIB1997EM.8.20] Duties of employees of responsible entity [MIB1997EM.8.21] [MIB1997EM.8.22] Surveillance checks by ASC [MIB1997EM.8.23] [MIB1997EM.8.24] Acquisition of interest in scheme by responsible entity [MIB1997EM.8.25] Liquidator of the responsible entity entitled to exercise indemnity rights [MIB1997EM.8.26] Proposed Division 2 — Changing the responsible entity [MIB1997EM.8.27] Retirement of responsible entity [MIB1997EM.8.28] [MIB1997EM.8.29] [MIB1997EM.8.30] [MIB1997EM.8.31] Removal of responsible entity by members [MIB1997EM.8.32] [MIB1997EM.8.33] Temporary responsible entity [MIB1997EM.8.34] [MIB1997EM.8.35] Proposed Division 3 — Consequences of change of responsible entity [MIB1997EM.8.36] [MIB1997EM.8.37] [MIB1997EM.8.38] [MIB1997EM.9] 9 Proposed Part 5C.3 — The constitution [MIB1997EM.9.1] [MIB1997EM.9.2] [MIB1997EM.9.3] [MIB1997EM.9.4] [MIB1997EM.9.5] Changing the constitution [MIB1997EM.9.6] [MIB1997EM.9.7] [MIB1997EM.9.8] [MIB1997EM.10] 10 Proposed Part 5C.4 — The compliance plan [MIB1997EM.10.1] [MIB1997EM.10.2] Contents of the compliance plan [MIB1997EM.10.3] [MIB1997EM.10.4] [MIB1997EM.10.5] Changing the compliance plan [MIB1997EM.10.6] [MIB1997EM.10.7] [MIB1997EM.10.8] [MIB1997EM.10.9] [MIB1997EM.10.10] Removal and resignation of auditors [MIB1997EM.10.11] [MIB1997EM.10.12] [MIB1997EM.10.13] [MIB1997EM.10.14] [MIB1997EM.11] 11 Proposed Part 5C.5 — The compliance committee When is a compliance committee required? [MIB1997EM.11.1] [MIB1997EM.11.2] External directors [MIB1997EM.11.3] [MIB1997EM.11.4] [MIB1997EM.11.5] Membership of the compliance committee [MIB1997EM.11.6] Functions of compliance committee [MIB1997EM.11.7] [MIB1997EM.11.8] Duties of members [MIB1997EM.11.9] [MIB1997EM.11.10] [MIB1997EM.11.11] When can responsible entity indemnify compliance committee members? [MIB1997EM.11.12] Proceedings of compliance committee [MIB1997EM.11.13] [MIB1997EM.11.14] [MIB1997EM.12] 12 Proposed Part 5C.6 — Members' rights to withdraw from a scheme [MIB1997EM.12.1] Schemes which are liquid [MIB1997EM.12.2] [MIB1997EM.12.3] [MIB1997EM.12.4] [MIB1997EM.12.5] Non-liquid schemes [MIB1997EM.12.6] [MIB1997EM.12.7] [MIB1997EM.12.8] [MIB1997EM.12.9] [MIB1997EM.12.10] [MIB1997EM.12.11] [MIB1997EM.12.12] [MIB1997EM.13] 13 Proposed Part 5C.7 — Related party transactions [MIB1997EM.13.1] [MIB1997EM.13.2] [MIB1997EM.13.3] [MIB1997EM.13.4] [MIB1997EM.13.5] [MIB1997EM.14] 14 Proposed Part 5C.8 — Effect of contraventions (civil liability and voidable contracts) Civil liability of responsible entity to members [MIB1997EM.14.1] [MIB1997EM.14.2] Voidable contracts where subscription offers and invitations contravene this Law [MIB1997EM.14.3] [MIB1997EM.14.4] [MIB1997EM.14.5] [MIB1997EM.15] 15 Proposed Part 5C.9 — Winding up [MIB1997EM.15.1] [MIB1997EM.15.2] [MIB1997EM.15.3] Winding up ordered by the Court [MIB1997EM.15.4] Responsibility for the winding up / Other orders about winding up [MIB1997EM.15.5] [MIB1997EM.15.6] [MIB1997EM.15.7] [MIB1997EM.16] 16 Proposed Part 5C.10 — Deregistration Voluntary deregistration [MIB1997EM.16.1] [MIB1997EM.16.2] Deregistration by the ASC [MIB1997EM.16.3] [MIB1997EM.16.4] [MIB1997EM.16.5] [MIB1997EM.16.6] [MIB1997EM.16.7] Reinstatement [MIB1997EM.16.8] [MIB1997EM.16.9] [MIB1997EM.16.10] [MIB1997EM.17] 17 Proposed Part 5C.11 — Exemptions and modifications [MIB1997EM.17.1] [MIB1997EM.17.2] [MIB1997EM.18] 18 Proposed Division 12 of Part 11.2 of the Corporations Law — Changes resulting from the Managed Investments Act 1997 Commencement of Part 5C [MIB1997EM.18.1] [MIB1997EM.18.2] [MIB1997EM.18.3] [MIB1997EM.18.4] Conversion to a single responsible entity [MIB1997EM.18.5] [MIB1997EM.18.6] [MIB1997EM.18.7] [MIB1997EM.18.8] [MIB1997EM.18.9] [MIB1997EM.18.10] Consequences of converting to comply with Chapter 5C [MIB1997EM.18.11] [MIB1997EM.18.12] Schemes which do not convert [MIB1997EM.18.13] [MIB1997EM.19] 19 Consequential amendments Amendment of the Corporations Law Definitions relevant to managed investment schemes [MIB1997EM.19.1] [MIB1997EM.19.2] Managed Investment Schemes [MIB1997EM.19.3] [MIB1997EM.19.4] [MIB1997EM.19.5] [MIB1997EM.19.6] [MIB1997EM.19.7] [MIB1997EM.19.8] [MIB1997EM.19.9] Statutory exclusions [MIB1997EM.19.10] [MIB1997EM.19.11] [MIB1997EM.19.12] Other changes to the Corporations Law [MIB1997EM.19.13] [MIB1997EM.19.14] [MIB1997EM.19.15] [MIB1997EM.19.16] [MIB1997EM.19.17] [MIB1997EM.19.18] [MIB1997EM.19.19] [MIB1997EM.19.20] Amendment of the Australian Securities Commission Act 1989 [MIB1997EM.19.21] [MIB1997EM.19.22] [MIB1997EM.19.23] [MIB1997EM.19.24] [MIB1997EM.19.25] Enforceable Undertakings [MIB1997EM.19.26] [MIB1997EM.19.27] [MIB1997EM.19.28] Record of undertakings [MIB1997EM.19.29] Amendment of the Pooled Development Funds Act 1992 [MIB1997EM.19.30] CORPORATE LAW ECONOMIC REFORM PROGRAM BILL CORPORATE LAW ECONOMIC REFORM PROGRAM BILL [CLR1997EM.1] 1 Outline and financial impact [CLR1997EM.1.1] [CLR1997EM.1.2] [CLR1997EM.1.3] [CLR1997EM.1.4] [CLR1997EM.1.5] [CLR1997EM.1.6] [CLR1997EM.1.7] [CLR1997EM.1.8] [CLR1997EM.1.9] Financial impact statement [CLR1997EM.1.10] [CLR1997EM.1.11] [CLR1997EM.2] 2 Regulation Impact Statement Objective of the Bill [CLR1997EM.2.1] [CLR1997EM.2.2] The reforms to be made by the Bill Overview [CLR1997EM.2.3] [CLR1997EM.2.4] Why the reforms are necessary — alternatives [CLR1997EM.2.5] [CLR1997EM.2.6] [CLR1997EM.2.7] Benefits of the Bill's reforms [CLR1997EM.2.8] [CLR1997EM.2.9] Reduction of regulatory burdens [CLR1997EM.2.10] Simplified expression and organisation of the Law [CLR1997EM.2.11] [CLR1997EM.2.12] [CLR1997EM.2.13] New obligations [CLR1997EM.2.14] 21 days notice for company general meetings [CLR1997EM.2.15] Asking questions at annual general meetings of public companies [CLR1997EM.2.16] Managed investment schemes [CLR1997EM.2.17] Consultation [CLR1997EM.2.18] [CLR1997EM.2.19] [CLR1997EM.2.20] [CLR1997EM.3] 3 Principal changes to the Corporations Law Summary of changes Forming companies [CLR1997EM.3.1] [CLR1997EM.3.2] [CLR1997EM.3.3] [CLR1997EM.3.4] [CLR1997EM.3.5] Meetings [CLR1997EM.3.6] [CLR1997EM.3.7] [CLR1997EM.3.8] [CLR1997EM.3.9] [CLR1997EM.3.10] [CLR1997EM.3.11] [CLR1997EM.3.12] [CLR1997EM.3.13] [CLR1997EM.3.14] [CLR1997EM.3.15] [CLR1997EM.3.16] [CLR1997EM.3.17] [CLR1997EM.3.18] Share capital [CLR1997EM.3.19] [CLR1997EM.3.20] [CLR1997EM.3.21] [CLR1997EM.3.22] [CLR1997EM.3.23] [CLR1997EM.3.24] Financial statements and audit [CLR1997EM.3.25] [CLR1997EM.3.26] Annual returns [CLR1997EM.3.27] [CLR1997EM.3.28] Defunct companies [CLR1997EM.3.29] [CLR1997EM.3.30] Names [CLR1997EM.3.31] [CLR1997EM.3.32] Setting up and running a company [CLR1997EM.3.33] [CLR1997EM.3.34] [CLR1997EM.3.35] [CLR1997EM.3.36] [CLR1997EM.3.37] [CLR1997EM.3.38] [CLR1997EM.3.39] [CLR1997EM.3.40] [CLR1997EM.3.41] [CLR1997EM.3.42] [CLR1997EM.3.43] [CLR1997EM.3.44] [CLR1997EM.3.45] [CLR1997EM.3.46] [CLR1997EM.3.47] [CLR1997EM.3.48] [CLR1997EM.3.49] [CLR1997EM.3.50] [CLR1997EM.3.51] [CLR1997EM.3.52] [CLR1997EM.3.53] [CLR1997EM.3.54] [CLR1997EM.3.55] [CLR1997EM.3.56] [CLR1997EM.3.57] [CLR1997EM.3.58] [CLR1997EM.3.59] [CLR1997EM.3.60] [CLR1997EM.3.61] [CLR1997EM.3.62] [CLR1997EM.3.63] [CLR1997EM.4] 4 Structure of the Law What will happen to existing Chapters 2, 3 and 4? [CLR1997EM.4.1] [CLR1997EM.4.2] [CLR1997EM.4.3] [CLR1997EM.5] 5 Formal clauses Clause 1: Short title etc. [CLR1997EM.5.1] Clause 2: Commencement [CLR1997EM.5.2] [CLR1997EM.5.3] Clause 3: Schedules [CLR1997EM.5.4] [CLR1997EM.6] 6 Part 1.5: Small business guide [CLR1997EM.6.1] [CLR1997EM.6.2] [CLR1997EM.6.3] [CLR1997EM.7] 7 Chapter 2A: Registering a company [CLR1997EM.7.1] What companies can be registered [CLR1997EM.7.2] [CLR1997EM.7.3] [CLR1997EM.7.4] [CLR1997EM.7.5] [CLR1997EM.7.6] [CLR1997EM.7.7] [CLR1997EM.7.8] [CLR1997EM.7.9] How a company is registered [CLR1997EM.7.10] [CLR1997EM.7.11] [CLR1997EM.7.12] [CLR1997EM.7.13] [CLR1997EM.7.14] [CLR1997EM.7.15] [CLR1997EM.7.16] [CLR1997EM.7.17] [CLR1997EM.7.18] [CLR1997EM.7.19] [CLR1997EM.7.20] Other bodies corporate [CLR1997EM.7.21] [CLR1997EM.7.22] [CLR1997EM.7.23] [CLR1997EM.7.24] [CLR1997EM.8] 8 Chapter 2B: Basic features of a company [CLR1997EM.8.1] Company powers and how they are exercised [CLR1997EM.8.2] [CLR1997EM.8.3] [CLR1997EM.8.4] [CLR1997EM.8.5] [CLR1997EM.8.6] Assumptions people dealing with companies are entitled to make [CLR1997EM.8.7] [CLR1997EM.8.8] [CLR1997EM.8.9] [CLR1997EM.8.10] Contracts before registration [CLR1997EM.8.11] [CLR1997EM.8.12] Replaceable rules and constitution [CLR1997EM.8.13] [CLR1997EM.8.14] [CLR1997EM.8.15] [CLR1997EM.8.16] [CLR1997EM.8.17] [CLR1997EM.8.18] [CLR1997EM.8.19] [CLR1997EM.8.20] [CLR1997EM.8.21] [CLR1997EM.8.22] [CLR1997EM.8.23] [CLR1997EM.8.24] [CLR1997EM.8.25] [CLR1997EM.8.26] [CLR1997EM.8.27] Registered office and places of business [CLR1997EM.8.28] [CLR1997EM.8.29] [CLR1997EM.8.30] [CLR1997EM.8.31] [CLR1997EM.8.32] [CLR1997EM.8.33] [CLR1997EM.8.34] [CLR1997EM.8.35] [CLR1997EM.8.36] Company names [CLR1997EM.8.37] [CLR1997EM.8.38] [CLR1997EM.8.39] [CLR1997EM.8.40] [CLR1997EM.8.41] [CLR1997EM.8.42] [CLR1997EM.8.43] [CLR1997EM.8.44] [CLR1997EM.8.45] [CLR1997EM.8.46] [CLR1997EM.8.47] [CLR1997EM.8.48] Changes of company type [CLR1997EM.8.49] [CLR1997EM.8.50] [CLR1997EM.8.51] [CLR1997EM.8.52] [CLR1997EM.8.53] [CLR1997EM.8.54] [CLR1997EM.8.55] [CLR1997EM.8.56] [CLR1997EM.8.57] [CLR1997EM.8.58] [CLR1997EM.8.59] [CLR1997EM.8.60] [CLR1997EM.9] 9 Chapter 2F: Members' rights and remedies [CLR1997EM.9.1] Class rights [CLR1997EM.9.2] [CLR1997EM.9.3] [CLR1997EM.9.4] [CLR1997EM.9.5] [CLR1997EM.9.6] [CLR1997EM.9.7] [CLR1997EM.9.8] [CLR1997EM.9.9] [CLR1997EM.9.10] Inspection of books [CLR1997EM.9.11] [CLR1997EM.9.12] [CLR1997EM.9.13] [CLR1997EM.10] Chapter 2G: Meetings [CLR1997EM.10.1] [CLR1997EM.10.2] [CLR1997EM.10.3] [CLR1997EM.10.4] Directors' meetings [CLR1997EM.10.5] [CLR1997EM.10.6] [CLR1997EM.10.7] [CLR1997EM.10.8] [CLR1997EM.10.9] [CLR1997EM.10.10] Meetings of members of companies Members' decisions without meetings [CLR1997EM.10.11] [CLR1997EM.10.12] [CLR1997EM.10.13] [CLR1997EM.10.14] [CLR1997EM.10.15] [CLR1997EM.10.16] Who may call meetings of members [CLR1997EM.10.17] [CLR1997EM.10.18] [CLR1997EM.10.19] [CLR1997EM.10.20] [CLR1997EM.10.21] [CLR1997EM.10.22] [CLR1997EM.10.23] [CLR1997EM.10.24] [CLR1997EM.10.25] Amount of notice of meetings [CLR1997EM.10.26] [CLR1997EM.10.27] [CLR1997EM.10.28] [CLR1997EM.10.29] Notice to members and directors [CLR1997EM.10.30] [CLR1997EM.10.31] [CLR1997EM.10.32] [CLR1997EM.10.33] Contents of notice [CLR1997EM.10.34] [CLR1997EM.10.35] Members' rights to put resolutions etc. at general meetings [CLR1997EM.10.36] [CLR1997EM.10.37] [CLR1997EM.10.38] [CLR1997EM.10.39] [CLR1997EM.10.40] Holding meetings using technology [CLR1997EM.10.41] [CLR1997EM.10.42] [CLR1997EM.10.43] [CLR1997EM.10.44] [CLR1997EM.10.45] Quorum [CLR1997EM.10.46] [CLR1997EM.10.47] [CLR1997EM.10.48] [CLR1997EM.10.49] Chairman [CLR1997EM.10.50] [CLR1997EM.10.51] Who can appoint a proxy [CLR1997EM.10.52] [CLR1997EM.10.53] Apportioning votes between 1 or 2 proxies [CLR1997EM.10.54] [CLR1997EM.10.55] Rights of proxies [CLR1997EM.10.56] [CLR1997EM.10.57] [CLR1997EM.10.58] Lists of proxies and proxy appointment forms [CLR1997EM.10.59] How to appoint a proxy [CLR1997EM.10.60] [CLR1997EM.10.61] [CLR1997EM.10.62] [CLR1997EM.10.63] [CLR1997EM.10.64] [CLR1997EM.10.65] [CLR1997EM.10.66] Giving proxy documents to company [CLR1997EM.10.67] [CLR1997EM.10.68] [CLR1997EM.10.69] Body corporate representatives [CLR1997EM.10.70] Voting at meetings of members [CLR1997EM.10.71] [CLR1997EM.10.72] Powers of attorney [CLR1997EM.10.73] Annual general meetings of public companies [CLR1997EM.10.74] Asking questions at an AGM [CLR1997EM.10.75] [CLR1997EM.10.76] [CLR1997EM.10.77] [CLR1997EM.10.78] Statutory meeting [CLR1997EM.10.79] Other meetings rules [CLR1997EM.10.80] Minutes and members' access to minutes Minutes [CLR1997EM.10.81] [CLR1997EM.10.82] Members' access [CLR1997EM.10.83] Meetings of members of registered managed investment schemes [CLR1997EM.10.84] [CLR1997EM.10.85] [CLR1997EM.10.86] Meetings initiated by the responsible entity [CLR1997EM.10.87] Meetings initiated by members [CLR1997EM.10.88] [CLR1997EM.10.89] [CLR1997EM.10.90] [CLR1997EM.10.91] [CLR1997EM.10.92] Meetings called by the Court [CLR1997EM.10.93] Calling and holding meetings of members [CLR1997EM.10.94] [CLR1997EM.10.95] [CLR1997EM.10.96] Members' rights to put resolutions etc. at meetings of members [CLR1997EM.10.97] Voting at meetings of members [CLR1997EM.10.98] [CLR1997EM.10.99] [CLR1997EM.10.100] Other meetings rules [CLR1997EM.10.101] [CLR1997EM.11] 11 Chapter 2H: Shares [CLR1997EM.11.1] [CLR1997EM.11.2] Part 2H.1 — Shares Authorised share capital [CLR1997EM.11.3] [CLR1997EM.11.4] [CLR1997EM.11.5] [CLR1997EM.11.6] [CLR1997EM.11.7] [CLR1997EM.11.8] [CLR1997EM.11.9] Issuing and converting shares [CLR1997EM.11.10] [CLR1997EM.11.11] [CLR1997EM.11.12] [CLR1997EM.11.13] [CLR1997EM.11.14] [CLR1997EM.11.15] [CLR1997EM.11.16] [CLR1997EM.11.17] [CLR1997EM.11.18] [CLR1997EM.11.19] [CLR1997EM.11.20] [CLR1997EM.11.21] No par value [CLR1997EM.11.22] [CLR1997EM.11.23] [CLR1997EM.11.24] [CLR1997EM.11.25] [CLR1997EM.11.26] [CLR1997EM.11.27] [CLR1997EM.11.28] [CLR1997EM.11.29] [CLR1997EM.11.30] [CLR1997EM.11.31] Redeemable preference shares [CLR1997EM.11.32] [CLR1997EM.11.33] [CLR1997EM.11.34] [CLR1997EM.11.35] [CLR1997EM.11.36] [CLR1997EM.11.37] Partly-paid shares [CLR1997EM.11.38] Dividends [CLR1997EM.11.39] [CLR1997EM.11.40] [CLR1997EM.11.41] [CLR1997EM.11.42] [CLR1997EM.11.43] [CLR1997EM.11.44] [CLR1997EM.11.45] [CLR1997EM.11.46] [CLR1997EM.11.47] [CLR1997EM.11.48] Notice requirements [CLR1997EM.11.49] [CLR1997EM.11.50] [CLR1997EM.11.51] [CLR1997EM.11.52] [CLR1997EM.12] 12 Chapter 2J: Transactions affecting share capital [CLR1997EM.12.1] [CLR1997EM.12.2] [CLR1997EM.12.3] Capital reductions [CLR1997EM.12.4] [CLR1997EM.12.5] [CLR1997EM.12.6] [CLR1997EM.12.7] [CLR1997EM.12.8] [CLR1997EM.12.9] No need for authorisation by constitution [CLR1997EM.12.10] [CLR1997EM.12.11] No need for Court confirmation [CLR1997EM.12.12] [CLR1997EM.12.13] Shareholder approval [CLR1997EM.12.14] [CLR1997EM.12.15] [CLR1997EM.12.16] [CLR1997EM.12.17] [CLR1997EM.12.18] [CLR1997EM.12.19] Information for shareholders [CLR1997EM.12.20] [CLR1997EM.12.21] Creditor and shareholder protection [CLR1997EM.12.22] [CLR1997EM.12.23] [CLR1997EM.12.24] [CLR1997EM.12.25] [CLR1997EM.12.26] Notice of the reduction of capital [CLR1997EM.12.27] [CLR1997EM.12.28] [CLR1997EM.12.29] [CLR1997EM.12.30] Stopping an improper capital reduction [CLR1997EM.12.31] [CLR1997EM.12.32] [CLR1997EM.12.33] [CLR1997EM.12.34] [CLR1997EM.12.35] Capital reductions and par value [CLR1997EM.12.36] [CLR1997EM.12.37] [CLR1997EM.12.38] Other reductions of capital [CLR1997EM.12.39] [CLR1997EM.12.40] [CLR1997EM.12.41] Share buy-backs [CLR1997EM.12.42] [CLR1997EM.12.43] [CLR1997EM.12.44] [CLR1997EM.12.45] [CLR1997EM.12.46] [CLR1997EM.12.47] [CLR1997EM.12.48] [CLR1997EM.12.49] Part 2J.2 — Self-acquisition and control of shares Direct self-acquisitions [CLR1997EM.12.50] [CLR1997EM.12.51] [CLR1997EM.12.52] [CLR1997EM.12.53] [CLR1997EM.12.54] [CLR1997EM.12.55] [CLR1997EM.12.56] [CLR1997EM.12.57] Indirect self-acquisitions [CLR1997EM.12.58] [CLR1997EM.12.59] [CLR1997EM.12.60] [CLR1997EM.12.61] [CLR1997EM.12.62] [CLR1997EM.12.63] [CLR1997EM.12.64] [CLR1997EM.12.65] [CLR1997EM.12.66] Issue or transfer of shares to a controlled entity [CLR1997EM.12.67] [CLR1997EM.12.68] [CLR1997EM.12.69] Controlling an entity that holds shares in the company [CLR1997EM.12.70] [CLR1997EM.12.71] [CLR1997EM.12.72] [CLR1997EM.12.73] Unacceptable self acquisition schemes [CLR1997EM.12.74] Part 2J.3 — Financial assistance [CLR1997EM.12.75] [CLR1997EM.12.76] [CLR1997EM.12.77] [CLR1997EM.12.78] [CLR1997EM.12.79] [CLR1997EM.12.80] [CLR1997EM.12.81] [CLR1997EM.12.82] [CLR1997EM.12.83] [CLR1997EM.12.84] [CLR1997EM.12.85] [CLR1997EM.12.86] Employee share schemes [CLR1997EM.12.87] [CLR1997EM.12.88] [CLR1997EM.12.89] Transfer and transmission of shares [CLR1997EM.12.90] [CLR1997EM.12.91] [CLR1997EM.12.92] Schedule 3 penalties [CLR1997EM.12.93] [CLR1997EM.13] 13 Chapter 2M: Financial reports and audit [CLR1997EM.13.1] [CLR1997EM.13.2] [CLR1997EM.13.3] Accounting standards and the Law [CLR1997EM.13.4] [CLR1997EM.13.5] [CLR1997EM.13.6] Application of Chapter 2M to managed investment schemes [CLR1997EM.13.7] [CLR1997EM.13.8] [CLR1997EM.13.9] Financial records [CLR1997EM.13.10] [CLR1997EM.13.11] [CLR1997EM.13.12] [CLR1997EM.13.13] [CLR1997EM.13.14] [CLR1997EM.13.15] [CLR1997EM.13.16] [CLR1997EM.13.17] Obligation to prepare annual reports [CLR1997EM.13.18] [CLR1997EM.13.19] [CLR1997EM.13.20] CORPORATE LAW ECONOMIC REFORM PROGRAM BILL [CLR1997EM.13] 13 Chapter 2M: Financial reports and audit [CLR1997EM.13.21] [CLR1997EM.13.22] [CLR1997EM.13.23] [CLR1997EM.13.24] Content of the annual financial report [CLR1997EM.13.25] [CLR1997EM.13.26] [CLR1997EM.13.27] [CLR1997EM.13.28] [CLR1997EM.13.29] [CLR1997EM.13.30] [CLR1997EM.13.31] [CLR1997EM.13.32] Directors' reporting responsibilities [CLR1997EM.13.33] Specific disclosures [CLR1997EM.13.34] [CLR1997EM.13.35] [CLR1997EM.13.36] [CLR1997EM.13.37] [CLR1997EM.13.38] [CLR1997EM.13.39] [CLR1997EM.13.40] [CLR1997EM.13.41] [CLR1997EM.13.42] Half-year reporting for disclosing entities [CLR1997EM.13.43] [CLR1997EM.13.44] [CLR1997EM.13.45] Audit and audit report [CLR1997EM.13.46] [CLR1997EM.13.47] [CLR1997EM.13.48] [CLR1997EM.13.49] [CLR1997EM.13.50] [CLR1997EM.13.51] [CLR1997EM.13.52] [CLR1997EM.13.53] [CLR1997EM.13.54] Annual financial reporting to members [CLR1997EM.13.55] [CLR1997EM.13.56] [CLR1997EM.13.57] [CLR1997EM.13.58] [CLR1997EM.13.59] [CLR1997EM.13.60] [CLR1997EM.13.61] [CLR1997EM.13.62] [CLR1997EM.13.63] Concise financial reports for members [CLR1997EM.13.64] [CLR1997EM.13.65] [CLR1997EM.13.66] [CLR1997EM.13.67] [CLR1997EM.13.68] [CLR1997EM.13.69] Lodging financial statements and reports with the ASC [CLR1997EM.13.70] [CLR1997EM.13.71] [CLR1997EM.13.72] [CLR1997EM.13.73] [CLR1997EM.13.74] [CLR1997EM.13.75] [CLR1997EM.13.76] [CLR1997EM.13.77] [CLR1997EM.13.78] Consolidated financial statements [CLR1997EM.13.79] [CLR1997EM.13.80] [CLR1997EM.13.81] Financial years and half-years [CLR1997EM.13.82] [CLR1997EM.13.83] [CLR1997EM.13.84] [CLR1997EM.13.85] [CLR1997EM.13.86] [CLR1997EM.13.87] Auditor [CLR1997EM.13.88] Accounting standards [CLR1997EM.13.89] [CLR1997EM.13.90] [CLR1997EM.13.91] [CLR1997EM.13.92] [CLR1997EM.13.93] [CLR1997EM.13.94] Exemptions and modifications [CLR1997EM.13.95] [CLR1997EM.13.96] [CLR1997EM.13.97] [CLR1997EM.13.98] Sanctions for non-compliance [CLR1997EM.13.99] [CLR1997EM.13.100] [CLR1997EM.13.101] Special rules and exemptions [CLR1997EM.13.102] [CLR1997EM.13.103] [CLR1997EM.13.104] [CLR1997EM.14] 14 Chapter 2N: Annual returns and lodgments with the ASC [CLR1997EM.14.1] [CLR1997EM.14.2] Lodgment of annual returns [CLR1997EM.14.3] [CLR1997EM.14.4] [CLR1997EM.14.5] [CLR1997EM.14.6] [CLR1997EM.14.7] [CLR1997EM.14.8] [CLR1997EM.14.9] [CLR1997EM.14.10] [CLR1997EM.14.11] [CLR1997EM.14.12] [CLR1997EM.14.14] Content of company annual returns [CLR1997EM.14.14] [CLR1997EM.14.16] [CLR1997EM.14.17] [CLR1997EM.14.18] [CLR1997EM.14.19] Contents of collective investment schemes annual returns [CLR1997EM.14.20] [CLR1997EM.14.21] [CLR1997EM.14.22] [CLR1997EM.14.23] [CLR1997EM.14.24] Lodgment [CLR1997EM.14.25] [CLR1997EM.14.26] [CLR1997EM.14.27] [CLR1997EM.14.28] [CLR1997EM.14.29] [CLR1997EM.15] 15 Chapter 5A: Deregistration of companies [CLR1997EM.15.1] Terminology and concepts in Bill [CLR1997EM.15.2] [CLR1997EM.15.3] Voluntary deregistration [CLR1997EM.15.4] [CLR1997EM.15.5] [CLR1997EM.15.6] [CLR1997EM.15.7] ASC initiated deregistration [CLR1997EM.15.8] [CLR1997EM.15.9] [CLR1997EM.15.10] Effect of deregistration [CLR1997EM.15.11] [CLR1997EM.15.12] [CLR1997EM.15.13] Powers of the ASC [CLR1997EM.15.14] [CLR1997EM.15.15] [CLR1997EM.15.16] [CLR1997EM.15.17] [CLR1997EM.15.18] [CLR1997EM.15.19] [CLR1997EM.15.20] [CLR1997EM.15.21] Third party rights against insured deregistered companies [CLR1997EM.15.22] [CLR1997EM.15.23] Reinstatement [CLR1997EM.15.24] [CLR1997EM.15.25] [CLR1997EM.15.26] [CLR1997EM.15.27] [CLR1997EM.15.28] [CLR1997EM.15.29] CORPORATE LAW ECONOMIC REFORM PROGRAM BILL CORPORATE LAW ECONOMIC REFORM PROGRAM BILL [CLERP98PRINCEM.1] 1 Outline [CLERP98PRINCEM.1.1] [CLERP98PRINCEM.1.2] [CLERP98PRINCEM.1.3] [CLERP98PRINCEM.1.4] [CLERP98PRINCEM.1.5] [CLERP98PRINCEM.1.6] [CLERP98PRINCEM.1.7] [CLERP98PRINCEM.2] 2 Regulation impact statement Background to proposed amendments [CLERP98PRINCEM.2.1] Consultation [CLERP98PRINCEM.2.2] [CLERP98PRINCEM.2.3] Problem identification and regulatory objectives [CLERP98PRINCEM.2.4] [CLERP98PRINCEM.2.5] [CLERP98PRINCEM.2.6] [CLERP98PRINCEM.2.7] Directors' duties Problems/options [CLERP98PRINCEM.2.8] [CLERP98PRINCEM.2.9] [CLERP98PRINCEM.2.10] Cost benefits [CLERP98PRINCEM.2.1] [CLERP98PRINCEM.2.2] Feedback from public exposure [CLERP98PRINCEM.2.3] Conclusion [CLERP98PRINCEM.2.4] [CLERP98PRINCEM.2.5] Takeovers Problems/options [CLERP98PRINCEM.2.6] [CLERP98PRINCEM.2.7] [CLERP98PRINCEM.2.8] Cost benefits [CLERP98PRINCEM.2.9] Feedback from public exposure [CLERP98PRINCEM.2.10] Conclusion [CLERP98PRINCEM.2.11] [CLERP98PRINCEM.2.12] Fundraising Problems/options [CLERP98PRINCEM.2.13] [CLERP98PRINCEM.2.14] [CLERP98PRINCEM.2.15] Cost benefits [CLERP98PRINCEM.2.16] [CLERP98PRINCEM.2.17] [CLERP98PRINCEM.2.18] Feedback from public exposure [CLERP98PRINCEM.2.1] Conclusion [CLERP98PRINCEM.2.2] [CLERP98PRINCEM.2.3] [CLERP98PRINCEM.2.4] [CLERP98PRINCEM.2.5] Accounting standards Problems/options [CLERP98PRINCEM.2.6] [CLERP98PRINCEM.2.7] Cost benefits [CLERP98PRINCEM.2.8] Feedback from public exposure [CLERP98PRINCEM.2.9] Conclusion [CLERP98PRINCEM.2.10] [CLERP98PRINCEM.2.11] Implementation and review [CLERP98PRINCEM.2.12] [CLERP98PRINCEM.2.13] [CLERP98PRINCEM.3] 3 Financial impact statement [CLERP98PRINCEM.3.1] [CLERP98PRINCEM.3.2] [CLERP98PRINCEM.3.3] [CLERP98PRINCEM.3.4] [CLERP98PRINCEM.4] 4 Summary of key amendments proposed by the Bill [CLERP98PRINCEM.4.1] Directors' duties and corporate governance [CLERP98PRINCEM.4.2] [CLERP98PRINCEM.4.3] Takeovers [CLERP98PRINCEM.4.4] [CLERP98PRINCEM.4.1] Fundraising [CLERP98PRINCEM.4.2] [CLERP98PRINCEM.4.3] Accounting standards [CLERP98PRINCEM.4.4] [CLERP98PRINCEM.5] 5 Abbreviations [CLERP98PRINCEM.6] Directors' duties and corporate governance Business Judgment Rule [CLERP98PRINCEM.6.1] [CLERP98PRINCEM.6.2] [CLERP98PRINCEM.6.3] [CLERP98PRINCEM.6.4] [CLERP98PRINCEM.6.5] [CLERP98PRINCEM.6.6] [CLERP98PRINCEM.6.7] [CLERP98PRINCEM.6.8] [CLERP98PRINCEM.6.9] [CLERP98PRINCEM.6.10] Statutory Derivative Action Proposed Part 2F.1A — Proceedings on behalf of a company and others [CLERP98PRINCEM.6.11] [CLERP98PRINCEM.6.12] [CLERP98PRINCEM.6.13] Current position [CLERP98PRINCEM.6.14] [CLERP98PRINCEM.6.15] [CLERP98PRINCEM.6.16] [CLERP98PRINCEM.6.17] Persons who may bring, or intervene in, proceedings on behalf of a company [CLERP98PRINCEM.6.18] [CLERP98PRINCEM.6.19] [CLERP98PRINCEM.6.20] [CLERP98PRINCEM.6.21] [CLERP98PRINCEM.6.22] No right of action except as provided in this part [CLERP98PRINCEM.6.23] [CLERP98PRINCEM.6.24] Who can apply for leave [CLERP98PRINCEM.6.25] [CLERP98PRINCEM.6.26] [CLERP98PRINCEM.6.27] [CLERP98PRINCEM.6.28] [CLERP98PRINCEM.6.29] [CLERP98PRINCEM.6.30] Criteria for granting leave [CLERP98PRINCEM.6.31] [CLERP98PRINCEM.6.32] [CLERP98PRINCEM.6.33] Inaction by the company [CLERP98PRINCEM.6.34] [CLERP98PRINCEM.6.35] Applicant's good faith [CLERP98PRINCEM.6.36] [CLERP98PRINCEM.6.37] Best interests of the company [CLERP98PRINCEM.6.38] [CLERP98PRINCEM.6.39] Third party actions [CLERP98PRINCEM.6.40] [CLERP98PRINCEM.6.41] [CLERP98PRINCEM.6.42] [CLERP98PRINCEM.6.43] [CLERP98PRINCEM.6.44] [CLERP98PRINCEM.6.45] Serious question [CLERP98PRINCEM.6.46] [CLERP98PRINCEM.6.47] [CLERP98PRINCEM.6.48] Notice of proceedings [CLERP98PRINCEM.6.49] [CLERP98PRINCEM.6.50] Notice of proceedings [CLERP98PRINCEM.6.51] Substitution of another person for the person granted leave [CLERP98PRINCEM.6.1] [CLERP98PRINCEM.6.2] Ratification or approval by members [CLERP98PRINCEM.6.3] [CLERP98PRINCEM.6.4] [CLERP98PRINCEM.6.5] [CLERP98PRINCEM.6.6] [CLERP98PRINCEM.6.7] [CLERP98PRINCEM.6.8] Leave to discontinue, compromise or settle derivative proceedings [CLERP98PRINCEM.6.9] General powers of the Court [CLERP98PRINCEM.6.10] [CLERP98PRINCEM.6.11] [CLERP98PRINCEM.6.12] [CLERP98PRINCEM.6.13] [CLERP98PRINCEM.6.14] Costs orders [CLERP98PRINCEM.6.15] [CLERP98PRINCEM.6.16] [CLERP98PRINCEM.6.17] [CLERP98PRINCEM.6.18] [CLERP98PRINCEM.6.19] [CLERP98PRINCEM.6.20] Duties of Officers and Employees [CLERP98PRINCEM.6.21] [CLERP98PRINCEM.6.22] Care and diligence [CLERP98PRINCEM.6.23] [CLERP98PRINCEM.6.24] [CLERP98PRINCEM.6.25] Civil penalty [CLERP98PRINCEM.6.1] Good faith [CLERP98PRINCEM.6.2] [CLERP98PRINCEM.6.3] [CLERP98PRINCEM.6.4] [CLERP98PRINCEM.6.5] [CLERP98PRINCEM.6.5] [CLERP98PRINCEM.6.7] Restrictions on indemnities and insurance for officers and auditors [CLERP98PRINCEM.6.8] [CLERP98PRINCEM.6.9] No exemptions [CLERP98PRINCEM.6.10] Prohibition on an indemnity for liability (other than for legal costs [CLERP98PRINCEM.6.11] [CLERP98PRINCEM.6.12] [CLERP98PRINCEM.6.13] Prohibition on an indemnity for legal costs [CLERP98PRINCEM.6.14] [CLERP98PRINCEM.6.15] [CLERP98PRINCEM.6.16] Clarification of the liability of directors in situations of conflict of interest [CLERP98PRINCEM.6.17] [CLERP98PRINCEM.6.18] [CLERP98PRINCEM.6.19] [CLERP98PRINCEM.6.20] [CLERP98PRINCEM.6.21] Reliance on Information Provided by Others and the Delegation of Responsibilities [CLERP98PRINCEM.6.22] Reliance by directors on information and advice provided by others [CLERP98PRINCEM.6.23] [CLERP98PRINCEM.6.24] [CLERP98PRINCEM.6.25] [CLERP98PRINCEM.6.26] Delegation [CLERP98PRINCEM.6.1] [CLERP98PRINCEM.6.2] [CLERP98PRINCEM.6.3] [CLERP98PRINCEM.6.4] Right of Access to Company Books [CLERP98PRINCEM.6.5] [CLERP98PRINCEM.6.6] [CLERP98PRINCEM.6.7] [CLERP98PRINCEM.6.8] [CLERP98PRINCEM.6.9] Rewrite [CLERP98PRINCEM.6.10] Material personal interests [CLERP98PRINCEM.6.11] [CLERP98PRINCEM.6.12] [CLERP98PRINCEM.6.13] [CLERP98PRINCEM.6.14] [CLERP98PRINCEM.6.15] [CLERP98PRINCEM.6.16] Company secretaries [CLERP98PRINCEM.6.1] [CLERP98PRINCEM.6.2] [CLERP98PRINCEM.6.3] [CLERP98PRINCEM.6.4] Related party transactions [CLERP98PRINCEM.6.5] Definition of 'related party' [CLERP98PRINCEM.6.1] Reasonable remuneration [CLERP98PRINCEM.6.2] [CLERP98PRINCEM.6.3] Consequences of contravention [CLERP98PRINCEM.6.4] Civil penalty provisions [CLERP98PRINCEM.6.5] [CLERP98PRINCEM.6.6] [CLERP98PRINCEM.6.7] [CLERP98PRINCEM.6.8] [CLERP98PRINCEM.6.9] Oppression [CLERP98PRINCEM.6.1] Consequential Amendments to the Commonwealth Authorities and Companies Act 1997 (the CAC Act) [CLERP98PRINCEM.6.1] [CLERP98PRINCEM.6.2] [CLERP98PRINCEM.6.3] [CLERP98PRINCEM.6.4] [CLERP98PRINCEM.7] Takeovers [CLERP98PRINCEM.7.1] Mandatory bid rule [CLERP98PRINCEM.7.2] [CLERP98PRINCEM.7.3] [CLERP98PRINCEM.7.4] [CLERP98PRINCEM.7.5] [CLERP98PRINCEM.7.6] [CLERP98PRINCEM.7.7] [CLERP98PRINCEM.7.8] [CLERP98PRINCEM.7.9] [CLERP98PRINCEM.7.10] Conditions applying to the mandatory bid rule [CLERP98PRINCEM.7.11] [CLERP98PRINCEM.7.12] [CLERP98PRINCEM.7.13] Dispute resolution [CLERP98PRINCEM.7.1] [CLERP98PRINCEM.7.2] [CLERP98PRINCEM.7.3] Panel's role [CLERP98PRINCEM.7.4] [CLERP98PRINCEM.7.5] [CLERP98PRINCEM.7.6] [CLERP98PRINCEM.7.7] [CLERP98PRINCEM.7.8] [CLERP98PRINCEM.7.9] [CLERP98PRINCEM.7.10] [CLERP98PRINCEM.7.11] [CLERP98PRINCEM.7.12] [CLERP98PRINCEM.7.13] Courts' role [CLERP98PRINCEM.7.14] [CLERP98PRINCEM.7.15] [CLERP98PRINCEM.7.16] Compulsory acquisitions [CLERP98PRINCEM.7.1] [CLERP98PRINCEM.7.2] [CLERP98PRINCEM.7.3] Post-bid compulsory acquisitions [CLERP98PRINCEM.7.1] [CLERP98PRINCEM.7.2] [CLERP98PRINCEM.7.3] [CLERP98PRINCEM.7.4] Compulsory acquisitions of all securities in a class [CLERP98PRINCEM.7.5] [CLERP98PRINCEM.7.6] [CLERP98PRINCEM.7.7] Compulsory acquisitions of all securities in the company [CLERP98PRINCEM.7.8] [CLERP98PRINCEM.7.9] [CLERP98PRINCEM.7.10] [CLERP98PRINCEM.7.11] [CLERP98PRINCEM.7.12] [CLERP98PRINCEM.7.13] Managed investment schemes Applying takeover rules to listed managed investment schemes [CLERP98PRINCEM.7.1] [CLERP98PRINCEM.7.2] [CLERP98PRINCEM.7.3] [CLERP98PRINCEM.7.4] [CLERP98PRINCEM.7.5] [CLERP98PRINCEM.7.6] [CLERP98PRINCEM.7.7] [CLERP98PRINCEM.7.8] Replacing the scheme manager [CLERP98PRINCEM.7.9] [CLERP98PRINCEM.7.10] [CLERP98PRINCEM.7.11] Compulsory acquisitions [CLERP98PRINCEM.7.12] Substantial holdings and tracing [CLERP98PRINCEM.7.13] [CLERP98PRINCEM.7.14] [CLERP98PRINCEM.7.15] Rewriting the takeover provisions [CLERP98PRINCEM.7.16] Takeover prohibition and exceptions [CLERP98PRINCEM.7.17] Takeover procedure [CLERP98PRINCEM.7.1] [CLERP98PRINCEM.7.2] [CLERP98PRINCEM.7.3] [CLERP98PRINCEM.7.4] Offers [CLERP98PRINCEM.7.5] [CLERP98PRINCEM.7.6] [CLERP98PRINCEM.7.7] [CLERP98PRINCEM.7.8] [CLERP98PRINCEM.7.9] [CLERP98PRINCEM.7.10] [CLERP98PRINCEM.7.11] [CLERP98PRINCEM.7.12] Conditional bids [CLERP98PRINCEM.7.13] [CLERP98PRINCEM.7.14] [CLERP98PRINCEM.7.15] Variation of bids [CLERP98PRINCEM.7.16] [CLERP98PRINCEM.7.17] [CLERP98PRINCEM.7.18] [CLERP98PRINCEM.7.19] [CLERP98PRINCEM.7.20] [CLERP98PRINCEM.7.21] Problems/options [CLERP98PRINCEM.7.22] [CLERP98PRINCEM.7.23] [CLERP98PRINCEM.7.24] [CLERP98PRINCEM.7.25] [CLERP98PRINCEM.7.26] [CLERP98PRINCEM.7.27] [CLERP98PRINCEM.7.28] [CLERP98PRINCEM.7.29] [CLERP98PRINCEM.7.30] [CLERP98PRINCEM.7.31] Supplementary takeover documents [CLERP98PRINCEM.7.32] [CLERP98PRINCEM.7.33] [CLERP98PRINCEM.7.34] [CLERP98PRINCEM.7.35] [CLERP98PRINCEM.7.36] Liability regime [CLERP98PRINCEM.7.37] Prohibitions [CLERP98PRINCEM.7.38] [CLERP98PRINCEM.7.39] [CLERP98PRINCEM.7.40] [CLERP98PRINCEM.7.41] [CLERP98PRINCEM.7.42] Persons liable [CLERP98PRINCEM.7.43] [CLERP98PRINCEM.7.44] [CLERP98PRINCEM.7.45] [CLERP98PRINCEM.7.46] [CLERP98PRINCEM.7.47] [CLERP98PRINCEM.7.48] [CLERP98PRINCEM.7.49] [CLERP98PRINCEM.7.50] Defences [CLERP98PRINCEM.7.51] [CLERP98PRINCEM.7.52] [CLERP98PRINCEM.7.53] [CLERP98PRINCEM.7.54] Liability for other takeover conduct [CLERP98PRINCEM.7.1] Compulsory acquisitions [CLERP98PRINCEM.7.2] [CLERP98PRINCEM.7.3] Treatment of later issued securities [CLERP98PRINCEM.7.4] [CLERP98PRINCEM.7.5] [CLERP98PRINCEM.7.6] [CLERP98PRINCEM.7.7] Treatment of convertible securities holders [CLERP98PRINCEM.7.1] [CLERP98PRINCEM.7.2] Discretion to reduce 90 per cent threshold [CLERP98PRINCEM.7.1] [CLERP98PRINCEM.7.2] [CLERP98PRINCEM.7.3] Role of the Court in compulsory acquisition disputes [CLERP98PRINCEM.7.4] [CLERP98PRINCEM.7.5] Substantial shareholdings [CLERP98PRINCEM.7.6] [CLERP98PRINCEM.8] Fundraising [CLERP98PRINCEM.8.1] Improving disclosure [CLERP98PRINCEM.8.2] General disclosure requirement [CLERP98PRINCEM.8.3] [CLERP98PRINCEM.8.4] [CLERP98PRINCEM.8.5] Shorter prospectuses [CLERP98PRINCEM.8.6] [CLERP98PRINCEM.8.7] [CLERP98PRINCEM.8.8] [CLERP98PRINCEM.8.9] Profile statements [CLERP98PRINCEM.8.10] [CLERP98PRINCEM.8.11] [CLERP98PRINCEM.8.12] Forward-looking statements [CLERP98PRINCEM.8.13] Rights issues [CLERP98PRINCEM.8.14] Advertising Listed securities [CLERP98PRINCEM.8.15] [CLERP98PRINCEM.8.16] Unlisted securities [CLERP98PRINCEM.8.17] [CLERP98PRINCEM.8.18] [CLERP98PRINCEM.8.19] [CLERP98PRINCEM.8.20] [CLERP98PRINCEM.8.21] Image advertising [CLERP98PRINCEM.8.1] Pathfinder documents [CLERP98PRINCEM.8.2] Liability Prohibitions [CLERP98PRINCEM.8.3] [CLERP98PRINCEM.8.4] [CLERP98PRINCEM.8.5] [CLERP98PRINCEM.8.6] [CLERP98PRINCEM.8.7] [CLERP98PRINCEM.8.8] Persons liable [CLERP98PRINCEM.8.9] [CLERP98PRINCEM.8.10] [CLERP98PRINCEM.8.11] [CLERP98PRINCEM.8.12] [CLERP98PRINCEM.8.13] [CLERP98PRINCEM.8.14] Defences [CLERP98PRINCEM.8.15] [CLERP98PRINCEM.8.16] [CLERP98PRINCEM.8.17] [CLERP98PRINCEM.8.18] [CLERP98PRINCEM.8.19] [CLERP98PRINCEM.8.20] [CLERP98PRINCEM.8.21] [CLERP98PRINCEM.8.22] Small business fundraising [CLERP98PRINCEM.8.1] Small scale offerings [CLERP98PRINCEM.8.2] [CLERP98PRINCEM.8.3] [CLERP98PRINCEM.8.4] [CLERP98PRINCEM.8.5] [CLERP98PRINCEM.8.6] Sophisticated investors [CLERP98PRINCEM.8.1] [CLERP98PRINCEM.8.2] [CLERP98PRINCEM.8.3] [CLERP98PRINCEM.8.4] [CLERP98PRINCEM.8.5] Offer information statements [CLERP98PRINCEM.8.6] [CLERP98PRINCEM.8.7] [CLERP98PRINCEM.8.8] [CLERP98PRINCEM.8.9] Electronic commerce [CLERP98PRINCEM.8.10] [CLERP98PRINCEM.8.11] [CLERP98PRINCEM.8.12] [CLERP98PRINCEM.8.13] [CLERP98PRINCEM.8.14] [CLERP98PRINCEM.8.15] [CLERP98PRINCEM.8.16] [CLERP98PRINCEM.8.17] Prospectus lodgment [CLERP98PRINCEM.8.18] [CLERP98PRINCEM.8.19] [CLERP98PRINCEM.8.20] [CLERP98PRINCEM.8.21] Fundraising by the Federal Government [CLERP98PRINCEM.8.22] [CLERP98PRINCEM.8.23] [CLERP98PRINCEM.8.24] [CLERP98PRINCEM.8.25] [CLERP98PRINCEM.8.26] [CLERP98PRINCEM.8.27] Rewriting the fundraising provisions [CLERP98PRINCEM.8.28] 'Securities' covered by the fundraising provisions [CLERP98PRINCEM.8.29] [CLERP98PRINCEM.8.30] [CLERP98PRINCEM.8.31] [CLERP98PRINCEM.8.32] [CLERP98PRINCEM.8.33] Options [CLERP98PRINCEM.8.34] [CLERP98PRINCEM.8.35] [CLERP98PRINCEM.8.36] [CLERP98PRINCEM.8.37] [CLERP98PRINCEM.8.38] [CLERP98PRINCEM.8.39] [CLERP98PRINCEM.8.40] [CLERP98PRINCEM.8.41] [CLERP98PRINCEM.8.42] General disclosure requirement [CLERP98PRINCEM.8.43] [CLERP98PRINCEM.8.44] [CLERP98PRINCEM.8.45] [CLERP98PRINCEM.8.46] [CLERP98PRINCEM.8.47] [CLERP98PRINCEM.8.48] [CLERP98PRINCEM.8.49] Specific disclosure requirement [CLERP98PRINCEM.8.50] Offers of securities issued for resale [CLERP98PRINCEM.8.51] [CLERP98PRINCEM.8.52] [CLERP98PRINCEM.8.53] [CLERP98PRINCEM.8.54] Secondary sales notices [CLERP98PRINCEM.8.1] [CLERP98PRINCEM.8.2] [CLERP98PRINCEM.8.3] [CLERP98PRINCEM.8.4] Restrictions on issuing securities [CLERP98PRINCEM.8.1] [CLERP98PRINCEM.8.2] [CLERP98PRINCEM.8.3] [CLERP98PRINCEM.8.4] [CLERP98PRINCEM.8.5] 13 month prospectus life [CLERP98PRINCEM.8.6] Clearing house [CLERP98PRINCEM.8.7] Debentures [CLERP98PRINCEM.8.8] Definition of debentures [CLERP98PRINCEM.8.9] [CLERP98PRINCEM.8.10] [CLERP98PRINCEM.8.11] What can be called debentures [CLERP98PRINCEM.8.12] Definition of borrower and guarantor [CLERP98PRINCEM.8.13] When an offer of debentures needs a trust deed and trustee [CLERP98PRINCEM.8.14] The Trust Deed [CLERP98PRINCEM.8.15] [CLERP98PRINCEM.8.16] [CLERP98PRINCEM.8.17] The Trustee [CLERP98PRINCEM.8.1] [CLERP98PRINCEM.8.2] [CLERP98PRINCEM.8.3] Specific performance of debenture contracts [CLERP98PRINCEM.8.4] [CLERP98PRINCEM.8.5] Debenture issues for particular purposes [CLERP98PRINCEM.8.6] Borrower's and guarantor's duties [CLERP98PRINCEM.8.1] [CLERP98PRINCEM.8.2] [CLERP98PRINCEM.8.3] [CLERP98PRINCEM.8.4] [CLERP98PRINCEM.8.5] [CLERP98PRINCEM.8.6] [CLERP98PRINCEM.8.7] Reporting requirements of borrowers and guarantors [CLERP98PRINCEM.8.8] [CLERP98PRINCEM.8.9] [CLERP98PRINCEM.8.10] Trustees duties [CLERP98PRINCEM.8.11] [CLERP98PRINCEM.8.12] ASIC and court powers [CLERP98PRINCEM.8.1] [CLERP98PRINCEM.8.2] [CLERP98PRINCEM.8.3] [CLERP98PRINCEM.8.4] [CLERP98PRINCEM.8.5] [CLERP98PRINCEM.8.6] Civil liability [CLERP98PRINCEM.8.7] [CLERP98PRINCEM.9] Accounting standards [CLERP98PRINCEM.9.1] Schedule 2 — New Accounting standards provisions Item 1 — Part 12 [CLERP98PRINCEM.9.2] [CLERP98PRINCEM.9.3] Section 224 — Main objectives of this Part [CLERP98PRINCEM.9.1] Division 1 — The Australian financial reporting system Section 225 — establishment, functions and powers of the Financial Reporting Council [CLERP98PRINCEM.9.1] [CLERP98PRINCEM.9.2] [CLERP98PRINCEM.9.3] [CLERP98PRINCEM.9.4] [CLERP98PRINCEM.9.5] [CLERP98PRINCEM.9.6] CORPORATE LAW ECONOMIC REFORM PROGRAM BILL Section 226 — Establishment of the Australian Accounting Standards Board [CLERP98PRINCEM.9.7] [CLERP98PRINCEM.9.8] [CLERP98PRINCEM.9.9] Section 227 — AASB's functions and powers [CLERP98PRINCEM.9.10] [CLERP98PRINCEM.9.11] [CLERP98PRINCEM.9.12] [CLERP98PRINCEM.9.13] [CLERP98PRINCEM.9.14] Division 2 — Accounting standards [CLERP98PRINCEM.9.15] Section 228 — Purposive interpretation of standards [CLERP98PRINCEM.9.16] [CLERP98PRINCEM.9.17] Section 229 — Generic and specific standards [CLERP98PRINCEM.9.18] [CLERP98PRINCEM.9.19] [CLERP98PRINCEM.9.20] [CLERP98PRINCEM.9.21] Section 230 — Comparative amounts [CLERP98PRINCEM.9.22] Section 231 — Cost/benefit analysis [CLERP98PRINCEM.9.23] [CLERP98PRINCEM.9.24] [CLERP98PRINCEM.9.25] Section 232 — FRC views [CLERP98PRINCEM.9.26] [CLERP98PRINCEM.9.27] [CLERP98PRINCEM.9.28] Section 233 — International accounting standards [CLERP98PRINCEM.9.1] [CLERP98PRINCEM.9.2] [CLERP98PRINCEM.9.3] Section 234 — Validity of accounting standards [CLERP98PRINCEM.9.1] Saving existing standards [CLERP98PRINCEM.9.2] Division 3 — Administrative provisions [CLERP98PRINCEM.9.3] Subdivision A — The Financial Reporting Council Section 235A — Membership of FRC [CLERP98PRINCEM.9.4] [CLERP98PRINCEM.9.5] [CLERP98PRINCEM.9.3] Section 235B — Annual report [CLERP98PRINCEM.9.1] [CLERP98PRINCEM.9.2] [CLERP98PRINCEM.9.3] Section 235C — Procedure [CLERP98PRINCEM.9.4] Subdivision B — The Australian Accounting Standards Board Section 236A — Procedure [CLERP98PRINCEM.9.5] [CLERP98PRINCEM.9.6] [CLERP98PRINCEM.9.7] Section 236B — Appointment of members of the AASB [CLERP98PRINCEM.9.8] [CLERP98PRINCEM.9.9] [CLERP98PRINCEM.9.10] [CLERP98PRINCEM.9.11] Section 236C — Resignation and termination of appointment [CLERP98PRINCEM.9.12] [CLERP98PRINCEM.9.13] [CLERP98PRINCEM.9.14] [CLERP98PRINCEM.9.15] Section 236D — Acting appointments [CLERP98PRINCEM.9.16] [CLERP98PRINCEM.9.17] Subdivision C — Confidentiality Section 237 — Confidentiality [CLERP98PRINCEM.9.18] [CLERP98PRINCEM.9.19] [CLERP98PRINCEM.9.20] Subdivision D — Financial matters Section 238 — Application of money [CLERP98PRINCEM.9.21] [CLERP98PRINCEM.9.22] Schedule 4, Part 3 — Consequential amendments Australian Securities and Investments Commission Act 1989 Items 1, 3 and 4 — Section 5 (new definitions) [CLERP98PRINCEM.9.23] [CLERP98PRINCEM.9.24] [CLERP98PRINCEM.9.25] [CLERP98PRINCEM.9.26] [CLERP98PRINCEM.9.27] Items 2 and 9 — Section 5 (definitions of 'Director' and 'Standards Board') [CLERP98PRINCEM.9.28] Items 5 and 6 — Section 5 (definition of 'meeting') [CLERP98PRINCEM.9.29] Items 7 and 8 — Section 5 (definition of 'member') [CLERP98PRINCEM.9.30] [CLERP98PRINCEM.9.31] Item 10 — Subparagraph 135(1)(a)(iv) [CLERP98PRINCEM.9.32] Corporations Law Items 11 and 12 — Subsection 334(3) and section 336 [CLERP98PRINCEM.9.33] [CLERP98PRINCEM.9.34] [CLERP98PRINCEM.9.35] CORPORATE LAW ECONOMIC REFORM PROGRAM BILL 1998 CORPORATE LAW ECONOMIC REFORM PROGRAM BILL 1998 [CLERP98SUPEM.1] 1 Outline [CLERP98SUPEM.1.1] [CLERP98SUPEM.1.2] [CLERP98SUPEM.1.3] [CLERP98SUPEM.2] 2 Financial impact statement [CLERP98SUPEM.2.1] [CLERP98SUPEM.3] 3 Proposed amendments Items 1, 2 and 3 Commencement provisions [CLERP98SUPEM.3.1] [CLERP98SUPEM.3.2] Item 4 Related parties — coverage of rules — section 212 [CLERP98SUPEM.3.3] Item 5 Panel provisions — section 602 [CLERP98SUPEM.3.4] [CLERP98SUPEM.3.5] [CLERP98SUPEM.3.6] Items 6 and 7 Foreign nominees — sections 615 and 619 [CLERP98SUPEM.3.7] Items 8 to 13 Minimum consideration — section 621 [CLERP98SUPEM.3.8] [CLERP98SUPEM.3.9] [CLERP98SUPEM.3.10] [CLERP98SUPEM.3.11] Item 14 Collateral benefits — section 623 [CLERP98SUPEM.3.12] [CLERP98SUPEM.3.13] [CLERP98SUPEM.3.14] [CLERP98SUPEM.3.15] Item 15 Panel provisions — section 657A [CLERP98SUPEM.3.16] [CLERP98SUPEM.3.17] Item 16 Panel provisions — section 657A [CLERP98SUPEM.3.18] [CLERP98SUPEM.3.19] Item 17 Panel provisions — section 657A [CLERP98SUPEM.3.20] Item 18 Panel provisions — section 657A [CLERP98SUPEM.3.21] Item 19 Panel provisions — new sections 657EA and 657EB [CLERP98SUPEM.3.22] [CLERP98SUPEM.3.23] [CLERP98SUPEM.3.24] [CLERP98SUPEM.3.25] Item 20 Panel provisions — section 657G [CLERP98SUPEM.3.26] [CLERP98SUPEM.3.27] [CLERP98SUPEM.3.28] Item 21 Panel provisions — section 657H [CLERP98SUPEM.3.1] Item 22 Panel provisions — new section 658C [CLERP98SUPEM.3.2] [CLERP98SUPEM.3.3] [CLERP98SUPEM.3.4] [CLERP98SUPEM.3.5] Item 23 Panel provisions — new section 659AA [CLERP98SUPEM.3.6] Item 24 Compulsory acquisition provisions — section 661B [CLERP98SUPEM.3.7] Item 25 Compulsory acquisition provisions — section 663C [CLERP98SUPEM.3.8] [CLERP98SUPEM.3.9] Item 26 Compulsory acquisition provisions — section 664AA [CLERP98SUPEM.3.10] [CLERP98SUPEM.3.11] Item 27 Compulsory acquisition provisions — section 665B [CLERP98SUPEM.3.12] [CLERP98SUPEM.3.13] Item 28 Compulsory acquisition provisions — section 665C [CLERP98SUPEM.3.14] [CLERP98SUPEM.3.15] [CLERP98SUPEM.3.16] Item 31 Fundraising — section 708 [CLERP98SUPEM.3.17] [CLERP98SUPEM.3.18] [CLERP98SUPEM.3.19] Items 32 and 33 Fundraising — section 723 [CLERP98SUPEM.3.20] Items 34, 35, 36 and 37 Fundraising — sections 724 and 725 [CLERP98SUPEM.3.21] [CLERP98SUPEM.3.22] [CLERP98SUPEM.3.23] Item 38 Debentures — technical correction [CLERP98SUPEM.3.24] [CLERP98SUPEM.3.25] Item 39 Fundraising — technical correction [CLERP98SUPEM.3.26] Item 40 Fundraising — technical correction [CLERP98SUPEM.3.27] Item 41 Fundraising — technical correction [CLERP98SUPEM.3.28] Item 42 Officers — technical correction [CLERP98SUPEM.3.29] Item 43 Officers — technical correction [CLERP98SUPEM.3.30] Item 44 Officers — technical correction [CLERP98SUPEM.3.31] Item 45 Officers — technical correction [CLERP98SUPEM.3.32] Item 46 Officers — technical correction [CLERP98SUPEM.3.33] Item 47 Takeovers — technical correction [CLERP98SUPEM.3.34] [CLERP98SUPEM.3.35] [CLERP98SUPEM.3.36] Item 48 Takeovers — technical correction [CLERP98SUPEM.3.37] Items 49 and 50 Takeovers — technical correction [CLERP98SUPEM.3.38] Item 51 Panel provisions — technical correction [CLERP98SUPEM.3.39] Item 52 Panel provisions — technical correction [CLERP98SUPEM.3.40] Item 53 Panel provisions — technical correction [CLERP98SUPEM.3.41] Item 54 Panel provisions — technical correction [CLERP98SUPEM.3.42] Item 55 Panel provisions — new section 194 [CLERP98SUPEM.3.43] [CLERP98SUPEM.3.44] Item 56 Officers — technical correction [CLERP98SUPEM.3.45] Item 57 Officers — technical correction [CLERP98SUPEM.3.46] Item 58 Fundraising — technical correction [CLERP98SUPEM.3.47] Item 59 Fundraising — technical correction [CLERP98SUPEM.3.48] Item 60 Fundraising — Cullen Bay Marina — section 66A [CLERP98SUPEM.3.49] [CLERP98SUPEM.3.50] [CLERP98SUPEM.3.51] [CLERP98SUPEM.3.52] Item 61 ASIC — disclosure of interests [CLERP98SUPEM.3.53] [CLERP98SUPEM.3.54] [CLERP98SUPEM.3.55] Item 62 ASIC — unclaimed moneys Proposed item 11C [CLERP98SUPEM.3.56] [CLERP98SUPEM.3.57] [CLERP98SUPEM.3.58] Proposed item 11D [CLERP98SUPEM.3.59] [CLERP98SUPEM.3.60] [CLERP98SUPEM.3.61] Item 63 ASIC — performance indicators [CLERP98SUPEM.3.62] Item 64 ASIC — cash dealers reports [CLERP98SUPEM.3.63] [CLERP98SUPEM.3.64] [CLERP98SUPEM.3.65] [CLERP98SUPEM.3.66] Item 65 Related parties — technical correction [CLERP98SUPEM.3.67] Item 66 Financial reporting — technical correction [CLERP98SUPEM.3.68] Item 67 Concise financial reporting — technical correction [CLERP98SUPEM.3.69] [CLERP98SUPEM.3.70] [CLERP98SUPEM.3.71] Item 68 Technical corrections [CLERP98SUPEM.3.1] [CLERP98SUPEM.3.2] Item 69 Schedule 10 — Amendments consequential on amendment of the Commonwealth Authorities and Companies Act 1997 (the CAC Act) [CLERP98SUPEM.3.3] [CLERP98SUPEM.3.4] Item 70 ASIC Act title change — consequential amendments [CLERP98SUPEM.3.5] Item 71 ASIC Act title change — consequential amendments [CLERP98SUPEM.3.6] FINANCIAL SERVICES REFORM (CONSEQUENTIAL PROVISIONS) BILL 2002 FINANCIAL SERVICES REFORM (CONSEQUENTIAL PROVISIONS) BILL 2002 OUTLINE Regulatory impact statement Financial Impact Statement Clause 1: Short Title Clause 2: Commencement Clause 3: Schedules Schedule 1 — Amendment of the Retirement Savings Accounts Act 1997 Schedule 2 — Amendment to the Corporations 2001 CORPORATE LAW ECONOMIC REFORM PROGRAM (AUDIT REFORM AND CORPORATE DISCLOSURE) BILL 2003 CORPORATE LAW ECONOMIC REFORM PROGRAM (AUDIT REFORM AND CORPORATE DISCLOSURE) BILL 2003 [CLAR2003EM.1] 1 CLERP (Audit Reform and Corporate Disclosure) Bill 2003 Outline [CLAR2003EM.1.1] [CLAR2003EM.1.2] [CLAR2003EM.1.3] [CLAR2003EM.1.4] [CLAR2003EM.2] 2 Abbreviations [CLAR2003EM.3] 3 Financial Impact Statement [CLAR2003EM.3.1] [CLAR2003EM.3.2] [CLAR2003EM.3.3] [CLAR2003EM.3.4] [CLAR2003EM.3.5] [CLAR2003EM.3.6] [CLAR2003EM.3.7] [CLAR2003EM.4] 4 Regulation Impact Statement Background [CLAR2003EM.4.1] [CLAR2003EM.4.2] CLERP 9 process [CLAR2003EM.4.3] [CLAR2003EM.4.4] [CLAR2003EM.4.5] [CLAR2003EM.4.6] [CLAR2003EM.4.7] Problem identification and analysis of proposals Auditor Independence Problem [CLAR2003EM.4.8] [CLAR2003EM.4.9] [CLAR2003EM.4.10] [CLAR2003EM.4.11] [CLAR2003EM.4.12] Objective [CLAR2003EM.4.13] Proposals promoting auditor independence [CLAR2003EM.4.14] [CLAR2003EM.4.15] Options and impact analysis General independence requirement and declaration of independence [CLAR2003EM.4.16] [CLAR2003EM.4.17] Option 1 [CLAR2003EM.4.18] Option 2 [CLAR2003EM.4.19] [CLAR2003EM.4.20] [CLAR2003EM.4.21] [CLAR2003EM.4.22] [CLAR2003EM.4.23] Consultation [CLAR2003EM.4.24] Conclusion [CLAR2003EM.4.25] Restrictions on employment and financial relationships [CLAR2003EM.4.26] Option 1 [CLAR2003EM.4.27] Option 2 [CLAR2003EM.4.28] Consultation [CLAR2003EM.4.29] Conclusion [CLAR2003EM.4.30] Mandatory waiting periods before partners of audit firms etc can join an audit client [CLAR2003EM.4.31] [CLAR2003EM.4.32] Option 1 [CLAR2003EM.4.33] Option 2 [CLAR2003EM.4.34] [CLAR2003EM.4.35] Consultation [CLAR2003EM.4.36] Conclusion [CLAR2003EM.4.37] Provision of non-audit services [CLAR2003EM.4.38] Option 1 [CLAR2003EM.4.39] [CLAR2003EM.4.40] [CLAR2003EM.4.41] [CLAR2003EM.4.42] [CLAR2003EM.4.43] [CLAR2003EM.4.44] Option 2 [CLAR2003EM.4.45] [CLAR2003EM.4.46] [CLAR2003EM.4.47] [CLAR2003EM.4.48] Consultation [CLAR2003EM.4.49] Conclusion [CLAR2003EM.4.50] Auditor rotation [CLAR2003EM.4.51] Option 1 [CLAR2003EM.4.52] [CLAR2003EM.4.53] [CLAR2003EM.4.54] Option 2 [CLAR2003EM.4.55] [CLAR2003EM.4.56] [CLAR2003EM.4.57] Consultation [CLAR2003EM.4.58] Conclusion [CLAR2003EM.4.59] Attendance by auditors at the company AGM [CLAR2003EM.4.60] Option 1 [CLAR2003EM.4.61] Option 2 [CLAR2003EM.4.62] [CLAR2003EM.4.63] Consultation [CLAR2003EM.4.64] Conclusion [CLAR2003EM.4.65] Submitting questions to auditors prior to the AGM [CLAR2003EM.4.66] Option 1 [CLAR2003EM.4.67] Option 2 [CLAR2003EM.4.68] Option 3 [CLAR2003EM.4.69] Consultation [CLAR2003EM.4.70] Conclusion [CLAR2003EM.4.71] Oversight of the auditing profession [CLAR2003EM.4.72] [CLAR2003EM.4.73] Option 1 [CLAR2003EM.4.74] [CLAR2003EM.4.75] [CLAR2003EM.4.76] [CLAR2003EM.4.77] [CLAR2003EM.4.78] Option 2 [CLAR2003EM.4.79] [CLAR2003EM.4.80] [CLAR2003EM.4.81] Consultation [CLAR2003EM.4.82] Conclusion [CLAR2003EM.4.83] Proportionate Liability Problem [CLAR2003EM.4.84] [CLAR2003EM.4.85] [CLAR2003EM.4.86] [CLAR2003EM.4.87] [CLAR2003EM.4.88] [CLAR2003EM.4.89] [CLAR2003EM.4.90] [CLAR2003EM.4.91] [CLAR2003EM.4.92] [CLAR2003EM.4.93] [CLAR2003EM.4.94] [CLAR2003EM.4.95] [CLAR2003EM.4.96] [CLAR2003EM.4.97] [CLAR2003EM.4.98] [CLAR2003EM.4.99] Objective [CLAR2003EM.4.100] Options Option 1: Maintain the status quo [CLAR2003EM.4.101] Option 2: Commonwealth to directly subsidise professional indemnity insurance premiums [CLAR2003EM.4.102] Option 3: Modified standard of care [CLAR2003EM.4.103] [CLAR2003EM.4.104] [CLAR2003EM.4.105] Option 4: Amend Commonwealth legislation to support any state or territory that implements professional standards legislation [CLAR2003EM.4.106] [CLAR2003EM.4.107] [CLAR2003EM.4.108] Option 5: Implement proportionate liability for economic loss with a consumer carve-out. [CLAR2003EM.4.109] Option 6: Implement proportionate liability for economic loss [CLAR2003EM.4.110] [CLAR2003EM.4.111] Impact Analysis Option 1: Maintain the status quo [CLAR2003EM.4.112] [CLAR2003EM.4.113] [CLAR2003EM.4.114] Option 2: Commonwealth to directly subsidise professional indemnity insurance premiums [CLAR2003EM.4.115] [CLAR2003EM.4.116] Option 3: Modified standard of care [CLAR2003EM.4.117] [CLAR2003EM.4.118] [CLAR2003EM.4.119] Option 4: Amend Commonwealth legislation to support any state or territory that implements professional standards legislation [CLAR2003EM.4.120] [CLAR2003EM.4.121] [CLAR2003EM.4.122] Option 5: Implement proportionate liability for economic loss with a consumer carve-out [CLAR2003EM.4.123] Option 6: Implement proportionate liability for economic loss [CLAR2003EM.4.124] [CLAR2003EM.4.125] [CLAR2003EM.4.126] [CLAR2003EM.4.127] [CLAR2003EM.4.128] [CLAR2003EM.4.129] Consultation [CLAR2003EM.4.130] [CLAR2003EM.4.131] [CLAR2003EM.4.132] Evaluation and Conclusion [CLAR2003EM.4.133] [CLAR2003EM.4.134] [CLAR2003EM.4.135] [CLAR2003EM.4.136] [CLAR2003EM.4.137] [CLAR2003EM.4.138] [CLAR2003EM.4.139] Incorporation of audit firms [CLAR2003EM.4.140] Options and impact analysis Option 1 [CLAR2003EM.4.141] [CLAR2003EM.4.142] Option 2 [CLAR2003EM.4.143] Consultation [CLAR2003EM.4.144] Conclusion [CLAR2003EM.4.145] [CLAR2003EM.4.146] Management of Conflicts of Interests by Financial Services Licensees Problem [CLAR2003EM.4.147] [CLAR2003EM.4.148] [CLAR2003EM.4.149] [CLAR2003EM.4.150] Objectives [CLAR2003EM.4.151] [CLAR2003EM.4.152] Options and impact analysis Option 1 [CLAR2003EM.4.153] [CLAR2003EM.4.154] [CLAR2003EM.4.155] [CLAR2003EM.4.156] [CLAR2003EM.4.157] Option 2 [CLAR2003EM.4.158] [CLAR2003EM.4.159] [CLAR2003EM.4.160] [CLAR2003EM.4.161] Option 3 [CLAR2003EM.4.162] [CLAR2003EM.4.163] [CLAR2003EM.4.164] [CLAR2003EM.4.165] Consultation [CLAR2003EM.4.166] [CLAR2003EM.4.167] [CLAR2003EM.4.168] Conclusion [CLAR2003EM.4.169] [CLAR2003EM.4.170] Informed Market Introduction [CLAR2003EM.4.171] [CLAR2003EM.4.172] [CLAR2003EM.4.173] [CLAR2003EM.4.174] [CLAR2003EM.4.175] [CLAR2003EM.4.176] Fundraising Problem [CLAR2003EM.4.177] [CLAR2003EM.4.178] Objectives [CLAR2003EM.4.179] [CLAR2003EM.4.180] [CLAR2003EM.4.181] [CLAR2003EM.4.182] [CLAR2003EM.4.183] Options [CLAR2003EM.4.184] Format and presentation of Chapter 6D disclosure documents [CLAR2003EM.4.185] [CLAR2003EM.4.186] Option 1 [CLAR2003EM.4.189] [CLAR2003EM.4.190] Option 2 [CLAR2003EM.4.191] [CLAR2003EM.4.192] [CLAR2003EM.4.193] [CLAR2003EM.4.194] Contents of a PDS for continuously quoted managed investment products [CLAR2003EM.4.195] [CLAR2003EM.4.196] Option 1 [CLAR2003EM.4.197] [CLAR2003EM.4.198] Option 2 [CLAR2003EM.4.199] [CLAR2003EM.4.200] Anti avoidance provisions for secondary sales [CLAR2003EM.4.201] [CLAR2003EM.4.202] Option 1 [CLAR2003EM.4.203] [CLAR2003EM.4.204] [CLAR2003EM.4.205] Option 2 [CLAR2003EM.4.206] [CLAR2003EM.4.207] [CLAR2003EM.4.208] Option 3 [CLAR2003EM.4.209] [CLAR2003EM.4.210] [CLAR2003EM.4.211] Consultation [CLAR2003EM.4.212] [CLAR2003EM.4.213] Conclusion [CLAR2003EM.4.214] [CLAR2003EM.4.215] [CLAR2003EM.4.216] [CLAR2003EM.4.217] Continuous disclosure Problem [CLAR2003EM.4.218] [CLAR2003EM.4.219] Objectives [CLAR2003EM.4.220] [CLAR2003EM.4.221] [CLAR2003EM.4.222] [CLAR2003EM.4.223] [CLAR2003EM.4.224] [CLAR2003EM.4.225] [CLAR2003EM.4.226] Options and impact analysis [CLAR2003EM.4.227] [CLAR2003EM.4.228] [CLAR2003EM.4.229] [CLAR2003EM.4.230] Option 1 — Transfer of full enforcement responsibility to ASIC Description [CLAR2003EM.4.231] Impact analysis [CLAR2003EM.4.232] [CLAR2003EM.4.233] [CLAR2003EM.4.234] [CLAR2003EM.4.235] [CLAR2003EM.4.236] [CLAR2003EM.4.237] Option 2 — Increased role for market operators Description [CLAR2003EM.4.238] Impact analysis [CLAR2003EM.4.239] [CLAR2003EM.4.240] [CLAR2003EM.4.241] [CLAR2003EM.4.242] [CLAR2003EM.4.243] [CLAR2003EM.4.244] [CLAR2003EM.4.245] Option 3 — Involvement of a peer review panel Description [CLAR2003EM.4.246] Impact analysis [CLAR2003EM.4.247] [CLAR2003EM.4.248] [CLAR2003EM.4.249] [CLAR2003EM.4.250] [CLAR2003EM.4.251] Option 4 — Enhance ASIC enforcement powers Description [CLAR2003EM.4.252] [CLAR2003EM.4.253] Impact analysis [CLAR2003EM.4.254] [CLAR2003EM.4.255] [CLAR2003EM.4.256] [CLAR2003EM.4.257] [CLAR2003EM.4.258] [CLAR2003EM.4.259] [CLAR2003EM.4.260] [CLAR2003EM.4.261] Consultation [CLAR2003EM.4.262] [CLAR2003EM.4.263] [CLAR2003EM.4.264] Conclusion [CLAR2003EM.4.265] [CLAR2003EM.4.266] [CLAR2003EM.4.267] [CLAR2003EM.4.268] [CLAR2003EM.4.269] [CLAR2003EM.4.270] Shareholder Participation and Information Problem [CLAR2003EM.4.271] Objectives [CLAR2003EM.4.272] Options and impact analysis Option 1 [CLAR2003EM.4.273] Option 2 [CLAR2003EM.4.274] [CLAR2003EM.4.275] [CLAR2003EM.4.276] Option 3 [CLAR2003EM.4.277] [CLAR2003EM.4.278] Consultation [CLAR2003EM.4.279] Conclusion [CLAR2003EM.4.280] Enforcement Problem [CLAR2003EM.4.281] [CLAR2003EM.4.282] [CLAR2003EM.4.283] [CLAR2003EM.4.284] [CLAR2003EM.4.285] [CLAR2003EM.4.286] [CLAR2003EM.4.287] Objectives [CLAR2003EM.4.288] [CLAR2003EM.4.289] Proposals promoting enforcement [CLAR2003EM.4.290] Options and impact analysis Legislative backing of auditing standards [CLAR2003EM.4.291] Option 1 [CLAR2003EM.4.292] [CLAR2003EM.4.293] [CLAR2003EM.4.294] [CLAR2003EM.4.295] [CLAR2003EM.4.296] [CLAR2003EM.4.297] Option 2 [CLAR2003EM.4.298] Consultation [CLAR2003EM.4.299] [CLAR2003EM.4.300] Conclusion [CLAR2003EM.4.301] Establishment of a Financial Reporting Panel [CLAR2003EM.4.302] Option 1 [CLAR2003EM.4.303] Option 2 [CLAR2003EM.4.304] [CLAR2003EM.4.305] [CLAR2003EM.4.306] Consultation [CLAR2003EM.4.307] Conclusion [CLAR2003EM.4.308] Disciplinary arrangements [CLAR2003EM.4.309] [CLAR2003EM.4.310] [CLAR2003EM.4.311] [CLAR2003EM.4.312] [CLAR2003EM.4.313] [CLAR2003EM.4.314] Consultation [CLAR2003EM.4.315] Matters auditors must report to ASIC [CLAR2003EM.4.316] [CLAR2003EM.4.317] [CLAR2003EM.4.318] Consultation [CLAR2003EM.4.319] Protection and qualified privilege for whistleblowers [CLAR2003EM.4.320] [CLAR2003EM.4.321] [CLAR2003EM.4.322] Consultation [CLAR2003EM.4.323] Conclusion [CLAR2003EM.4.324] Accountability of parties within the financial reporting framework Problem [CLAR2003EM.4.325] Objective [CLAR2003EM.4.326] Proposals promoting accountability [CLAR2003EM.4.327] CEO and CFO sign-off on financial statements [CLAR2003EM.4.328] Options and impact analysis Option 1 [CLAR2003EM.4.329] [CLAR2003EM.4.330] [CLAR2003EM.4.331] [CLAR2003EM.4.332] Option 2 [CLAR2003EM.4.333] Option 3 [CLAR2003EM.4.334] Consultation [CLAR2003EM.4.335] Conclusion [CLAR2003EM.4.336] Qualifications and practical experience [CLAR2003EM.4.337] Options and impact analysis Option 1 [CLAR2003EM.4.338] [CLAR2003EM.4.339] [CLAR2003EM.4.340] Option 2 [CLAR2003EM.4.341] [CLAR2003EM.4.342] [CLAR2003EM.4.343] [CLAR2003EM.4.344] Consultation [CLAR2003EM.4.345] Conclusion [CLAR2003EM.4.346] Remuneration of directors and executives Problem [CLAR2003EM.4.347] [CLAR2003EM.4.348] [CLAR2003EM.4.349] [CLAR2003EM.4.350] [CLAR2003EM.4.351] [CLAR2003EM.4.352] [CLAR2003EM.4.353] Current disclosure requirements [CLAR2003EM.4.354] [CLAR2003EM.4.355] [CLAR2003EM.4.356] [CLAR2003EM.4.357] Objectives [CLAR2003EM.4.358] [CLAR2003EM.4.359] [CLAR2003EM.4.360] [CLAR2003EM.4.361] [CLAR2003EM.4.362] Options and impact analysis [CLAR2003EM.4.363] Option 1 [CLAR2003EM.4.364] [CLAR2003EM.4.365] [CLAR2003EM.4.366] [CLAR2003EM.4.367] [CLAR2003EM.4.368] [CLAR2003EM.4.369] Option 2 [CLAR2003EM.4.370] [CLAR2003EM.4.371] [CLAR2003EM.4.372] [CLAR2003EM.4.373] Option 3 [CLAR2003EM.4.374] Consultation [CLAR2003EM.4.375] Conclusion [CLAR2003EM.4.376] [CLAR2003EM.4.377] Operating and financial review Problem [CLAR2003EM.4.378] [CLAR2003EM.4.379] Objectives [CLAR2003EM.4.380] [CLAR2003EM.4.381] [CLAR2003EM.4.382] [CLAR2003EM.4.383] Options and impact analysis [CLAR2003EM.4.384] Option 1 — Maintaining the status quo [CLAR2003EM.4.385] [CLAR2003EM.4.386] [CLAR2003EM.4.387] Option 2 — Legislative requirement for an operating and financial review [CLAR2003EM.4.388] [CLAR2003EM.4.389] [CLAR2003EM.4.390] Consultation [CLAR2003EM.4.391] [CLAR2003EM.4.392] Conclusion [CLAR2003EM.4.393] [CLAR2003EM.5] 5 Notes on Clauses [CLAR2003EM.5.1] [CLAR2003EM.5.2] [CLAR2003EM.5.3] Schedule 1: Audit reform [CLAR2003EM.5.4] Part 1: Audit oversight Overview [CLAR2003EM.5.5] [CLAR2003EM.5.6] [CLAR2003EM.5.7] [CLAR2003EM.5.8] Definitions [CLAR2003EM.5.9] Changes to objects of Part 12 of ASIC Act [CLAR2003EM.5.10] [CLAR2003EM.5.11] Changes to FRC's functions and powers Oversight of AUASB [CLAR2003EM.5.12] [CLAR2003EM.5.13] [CLAR2003EM.5.14] Monitoring auditor independence [CLAR2003EM.5.15] [CLAR2003EM.5.16] [CLAR2003EM.5.17] Information gathering powers [CLAR2003EM.5.18] [CLAR2003EM.5.19] [CLAR2003EM.5.20] [CLAR2003EM.5.21] [CLAR2003EM.5.22] [CLAR2003EM.5.23] Audit papers [CLAR2003EM.5.24] [CLAR2003EM.5.25] [CLAR2003EM.5.26] Transitional arrangements [CLAR2003EM.5.27] Reporting to Ministers [CLAR2003EM.5.28] [CLAR2003EM.5.29] AUASB's establishment, functions, powers, procedures, membership and other administrative matters [CLAR2003EM.5.30] [CLAR2003EM.5.31] Establishment, functions and powers [CLAR2003EM.5.32] [CLAR2003EM.5.33] [CLAR2003EM.5.34] [CLAR2003EM.5.35] [CLAR2003EM.5.36] [CLAR2003EM.5.37] [CLAR2003EM.5.38] AUASB to have regard to FRC views [CLAR2003EM.5.39] [CLAR2003EM.5.40] AUASB — general provisions [CLAR2003EM.5.41] Meeting procedures [CLAR2003EM.5.42] Appointment, resignation and termination of members of the AUASB [CLAR2003EM.5.43] [CLAR2003EM.5.44] [CLAR2003EM.5.45] [CLAR2003EM.5.46] [CLAR2003EM.5.47] [CLAR2003EM.5.48] [CLAR2003EM.5.49] Confidentiality requirements [CLAR2003EM.5.50] [CLAR2003EM.5.51] [CLAR2003EM.5.52] Moneys of AASB and AUASB [CLAR2003EM.5.53] [CLAR2003EM.5.54] [CLAR2003EM.5.55] [CLAR2003EM.5.56] Auditing standards Procedural matters [CLAR2003EM.5.57] [CLAR2003EM.5.58] [CLAR2003EM.5.59] [CLAR2003EM.5.60] [CLAR2003EM.5.61] [CLAR2003EM.5.62] Making auditing standards [CLAR2003EM.5.63] [CLAR2003EM.5.64] [CLAR2003EM.5.65] Transitional arrangements [CLAR2003EM.5.66] [CLAR2003EM.5.67] [CLAR2003EM.5.68] [CLAR2003EM.5.69] Table 1: Australian Auditing Standards as at 1 October 2003 The use of auditing standards [CLAR2003EM.5.70] [CLAR2003EM.5.71] [CLAR2003EM.5.72] Transitional arrangements [CLAR2003EM.5.73] Liability for damages [CLAR2003EM.5.74] [CLAR2003EM.5.75] [CLAR2003EM.5.76] Part 2: Qualifications of auditors Overview [CLAR2003EM.5.77] [CLAR2003EM.5.78] Registration of auditors Practical experience [CLAR2003EM.5.79] [CLAR2003EM.5.80] Education requirements [CLAR2003EM.5.81] [CLAR2003EM.5.82] [CLAR2003EM.5.83] [CLAR2003EM.5.84] [CLAR2003EM.5.85] Approval of auditing competency standard [CLAR2003EM.5.86] [CLAR2003EM.5.87] [CLAR2003EM.5.88] [CLAR2003EM.5.89] [CLAR2003EM.5.90] [CLAR2003EM.5.91] Transitional arrangements: registration using auditing competency standard [CLAR2003EM.5.92] [CLAR2003EM.5.93] Conditions on registration of auditors [CLAR2003EM.5.94] [CLAR2003EM.5.95] Transitional arrangements [CLAR2003EM.5.96] Annual statements by auditors [CLAR2003EM.5.97] [CLAR2003EM.5.98] [CLAR2003EM.5.99] [CLAR2003EM.5.100] Transitional arrangements [CLAR2003EM.5.101] [CLAR2003EM.5.102] Powers of CALDB in relation to auditors [CLAR2003EM.5.103] [CLAR2003EM.5.104] Delegations by Auditors-General [CLAR2003EM.5.105] Part 3: Auditor appointment, independence and rotation requirements Overview [CLAR2003EM.5.106] [CLAR2003EM.5.107] CORPORATE LAW ECONOMIC REFORM PROGRAM (AUDIT REFORM AND CORPORATE DISCLOSURE) BILL 2003 [CLAR2003EM.5.108] [CLAR2003EM.5.109] [CLAR2003EM.5.110] [CLAR2003EM.5.111] [CLAR2003EM.5.112] Definitions [CLAR2003EM.5.113] Auditor independence [CLAR2003EM.5.114] [CLAR2003EM.5.115] [CLAR2003EM.5.116] [CLAR2003EM.5.117] Auditor independence rules and the liability framework [CLAR2003EM.5.118] [CLAR2003EM.5.119] [CLAR2003EM.5.120] General requirement for auditor independence [CLAR2003EM.5.121] [CLAR2003EM.5.122] [CLAR2003EM.5.123] [CLAR2003EM.5.124] [CLAR2003EM.5.125] [CLAR2003EM.5.126] [CLAR2003EM.5.127] [CLAR2003EM.5.128] [CLAR2003EM.5.129] Employment and financial relationships [CLAR2003EM.5.130] [CLAR2003EM.5.131] [CLAR2003EM.5.132] Specific requirements for individual auditor [CLAR2003EM.5.133] [CLAR2003EM.5.134] [CLAR2003EM.5.135] [CLAR2003EM.5.136] [CLAR2003EM.5.137] [CLAR2003EM.5.138] [CLAR2003EM.5.139] [CLAR2003EM.5.140] Specific requirements for audit firms and authorised audit companies [CLAR2003EM.5.141] Relevant relationships [CLAR2003EM.5.142] [CLAR2003EM.5.143] [CLAR2003EM.5.144] [CLAR2003EM.5.145] [CLAR2003EM.5.146] [CLAR2003EM.5.147] [CLAR2003EM.5.148] [CLAR2003EM.5.149] [CLAR2003EM.5.150] [CLAR2003EM.5.151] [CLAR2003EM.5.152] [CLAR2003EM.5.153] [CLAR2003EM.5.154] [CLAR2003EM.5.155] [CLAR2003EM.5.156] [CLAR2003EM.5.157] [CLAR2003EM.5.158] Retiring partners of audit firms and retiring directors of authorised audit companies [CLAR2003EM.5.159] [CLAR2003EM.5.160] [CLAR2003EM.5.161] [CLAR2003EM.5.162] Retiring professional member of audit company [CLAR2003EM.5.163] Multiple former audit firm partners or audit company directors [CLAR2003EM.5.164] [CLAR2003EM.5.165] [CLAR2003EM.5.166] [CLAR2003EM.5.167] [CLAR2003EM.5.168] Auditor's independence declaration [CLAR2003EM.5.169] [CLAR2003EM.5.170] [CLAR2003EM.5.171] [CLAR2003EM.5.172] Transitional arrangements for auditor independence amendments [CLAR2003EM.5.173] People who are regarded as officers of a company for the purposes of this Division [CLAR2003EM.5.174] Deliberately disqualifying auditor [CLAR2003EM.5.175] [CLAR2003EM.5.176] Rotation requirements for auditors [CLAR2003EM.5.177] [CLAR2003EM.5.178] [CLAR2003EM.5.179] [CLAR2003EM.5.180] Individual auditor's rotation obligation [CLAR2003EM.5.181] Audit firm's rotation obligation [CLAR2003EM.5.182] [CLAR2003EM.5.183] [CLAR2003EM.5.184] Authorised audit company's rotation obligation [CLAR2003EM.5.185] ASIC's power to modify the rotation requirements [CLAR2003EM.5.186] [CLAR2003EM.5.187] [CLAR2003EM.5.188] [CLAR2003EM.5.189] [CLAR2003EM.5.190] Auditor to notify company or registered scheme of ASIC relief [CLAR2003EM.5.191] Transitional arrangements [CLAR2003EM.5.192] [CLAR2003EM.5.193] [CLAR2003EM.5.194] Non audit services Disclosure of non audit services [CLAR2003EM.5.195] [CLAR2003EM.5.196] [CLAR2003EM.5.197] Accounting standards [CLAR2003EM.5.198] Transitional provisions [CLAR2003EM.5.199] Part 4: Authorised audit companies [CLAR2003EM.5.200] [CLAR2003EM.5.201] Application for registration as authorised audit company [CLAR2003EM.5.202] Eligibility for registration as an authorised audit company [CLAR2003EM.5.203] Registration as authorised audit company [CLAR2003EM.5.204] Registration may be subject to conditions [CLAR2003EM.5.205] Register of authorised audit companies [CLAR2003EM.5.206] Notification of certain matters [CLAR2003EM.5.207] [CLAR2003EM.5.208] Annual statements by authorised audit companies [CLAR2003EM.5.209] Cancellation or suspension of registration [CLAR2003EM.5.210] [CLAR2003EM.5.211] [CLAR2003EM.5.212] [CLAR2003EM.5.213] [CLAR2003EM.5.214] Effect of suspension [CLAR2003EM.5.215] Effect of cancellation [CLAR2003EM.5.216] Authority to sign on behalf of authorised audit company [CLAR2003EM.5.217] Part 5: Auditors and AGMs Overview [CLAR2003EM.5.218] [CLAR2003EM.5.219] [CLAR2003EM.5.220] [CLAR2003EM.5.221] [CLAR2003EM.5.222] Questions submitted by members of listed company before AGM [CLAR2003EM.5.223] [CLAR2003EM.5.224] [CLAR2003EM.5.225] [CLAR2003EM.5.226] [CLAR2003EM.5.227] [CLAR2003EM.5.228] [CLAR2003EM.5.229] Answering questions [CLAR2003EM.5.230] Auditor's attendance at the AGM [CLAR2003EM.5.231] [CLAR2003EM.5.232] [CLAR2003EM.5.233] Qualified privilege [CLAR2003EM.5.234] Part 6: Qualified privilege [CLAR2003EM.5.235] [CLAR2003EM.5.236] [CLAR2003EM.5.237] [CLAR2003EM.5.238] [CLAR2003EM.5.239] Part 7: Expansion of auditors' duties Overview [CLAR2003EM.5.240] [CLAR2003EM.5.241] [CLAR2003EM.5.242] Reporting contraventions to ASIC [CLAR2003EM.5.243] [CLAR2003EM.5.244] [CLAR2003EM.5.245] [CLAR2003EM.5.246] [CLAR2003EM.5.247] [CLAR2003EM.5.248] [CLAR2003EM.5.249] Commencement [CLAR2003EM.5.250] Part 8: Companies Auditors and Liquidators Disciplinary Board Overview [CLAR2003EM.5.251] [CLAR2003EM.5.252] [CLAR2003EM.5.253] [CLAR2003EM.5.254] [CLAR2003EM.5.255] [CLAR2003EM.5.256] Changes to membership of the Board of the CALDB [CLAR2003EM.5.257] [CLAR2003EM.5.258] [CLAR2003EM.5.259] [CLAR2003EM.5.260] [CLAR2003EM.5.261] Terms and conditions of appointment [CLAR2003EM.5.262] Provisions for Acting Chairperson and Acting Deputy Chairperson [CLAR2003EM.5.263] [CLAR2003EM.5.264] [CLAR2003EM.5.265] Meetings of the Board of the CALDB [CLAR2003EM.5.266] The Constitution of a Panel and Panel Meetings [CLAR2003EM.5.267] [CLAR2003EM.5.268] [CLAR2003EM.5.269] [CLAR2003EM.5.270] [CLAR2003EM.5.271] [CLAR2003EM.5.272] [CLAR2003EM.5.273] Disclosure of interests [CLAR2003EM.5.274] Sharing of information [CLAR2003EM.5.275] Panel powers and responsibilities [CLAR2003EM.5.276] [CLAR2003EM.5.277] Miscellaneous Amendments [CLAR2003EM.5.278] [CLAR2003EM.5.279] Transitional arrangements [CLAR2003EM.5.281] [CLAR2003EM.5.282] Schedule 2: Financial reporting [CLAR2003EM.5.283] Part 1: CEO and CFO signoff Overview [CLAR2003EM.5.284] [CLAR2003EM.5.285] [CLAR2003EM.5.286] [CLAR2003EM.5.287] [CLAR2003EM.5.288] [CLAR2003EM.5.289] Directors' declaration [CLAR2003EM.5.290] Declaration by CEO and CFO [CLAR2003EM.5.291] [CLAR2003EM.5.292] [CLAR2003EM.5.293] [CLAR2003EM.5.294] [CLAR2003EM.5.295] [CLAR2003EM.5.296] [CLAR2003EM.5.297] Transitional arrangements [CLAR2003EM.5.298] Part 2: Content of directors' report for listed public companies Overview [CLAR2003EM.5.299] [CLAR2003EM.5.300] [CLAR2003EM.5.301] [CLAR2003EM.5.302] Operating and financial review [CLAR2003EM.5.303] [CLAR2003EM.5.304] [CLAR2003EM.5.305] [CLAR2003EM.5.306] [CLAR2003EM.5.307] [CLAR2003EM.5.308] [CLAR2003EM.5.309] [CLAR2003EM.5.310] [CLAR2003EM.5.311] Other amendments [CLAR2003EM.5.312] Transitional arrangements [CLAR2003EM.5.313] Part 3: Financial reporting panel Overview [CLAR2003EM.5.314] [CLAR2003EM.5.315] [CLAR2003EM.5.316] Establishment and membership of the FRP [CLAR2003EM.5.317] [CLAR2003EM.5.318] [CLAR2003EM.5.319] [CLAR2003EM.5.320] Constitution of a particular panel of the FRP [CLAR2003EM.5.321] Disclosure of interests [CLAR2003EM.5.322] Confidentiality [CLAR2003EM.5.323] Interpretation [CLAR2003EM.5.324] FRP Proceedings [CLAR2003EM.5.325] [CLAR2003EM.5.326] [CLAR2003EM.5.327] [CLAR2003EM.5.328] [CLAR2003EM.5.329] [CLAR2003EM.5.330] Reference of a financial report to the FRP by ASIC [CLAR2003EM.5.331] [CLAR2003EM.5.332] [CLAR2003EM.5.333] [CLAR2003EM.5.334] Reference of a financial report to the FRP by the Company [CLAR2003EM.5.335] [CLAR2003EM.5.336] [CLAR2003EM.5.337] Referral to the FRP [CLAR2003EM.5.338] FRP to consider the financial report [CLAR2003EM.5.339] [CLAR2003EM.5.340] [CLAR2003EM.5.341] [CLAR2003EM.5.342] [CLAR2003EM.5.343] Court may have regard to an FRP report [CLAR2003EM.5.344] Transitional arrangements [CLAR2003EM.5.345] Schedule 3: Proportionate liability Overview [CLAR2003EM.5.346] [CLAR2003EM.5.347] [CLAR2003EM.5.348] [CLAR2003EM.5.349] [CLAR2003EM.5.350] [CLAR2003EM.5.351] [CLAR2003EM.5.352] [CLAR2003EM.5.353] [CLAR2003EM.5.354] [CLAR2003EM.5.355] Amendments to the ASIC Act Claims to which proportionate liability applies [CLAR2003EM.5.356] [CLAR2003EM.5.357] [CLAR2003EM.5.358] [CLAR2003EM.5.359] [CLAR2003EM.5.360] Certain concurrent wrongdoers not to have benefit of apportionment [CLAR2003EM.5.361] [CLAR2003EM.5.362] Proportionate liability for apportionable claims [CLAR2003EM.5.363] [CLAR2003EM.5.364] [CLAR2003EM.5.365] [CLAR2003EM.5.366] [CLAR2003EM.5.367] Defendant to notify plaintiff of concurrent wrongdoer of whom defendant aware [CLAR2003EM.5.368] Contribution not recoverable from defendant [CLAR2003EM.5.369] Subsequent actions [CLAR2003EM.5.370] Joining non party concurrent wrongdoer in the action [CLAR2003EM.5.371] Application of Subdivision [CLAR2003EM.5.372] Amendments to the Corporations Act and the Trade Practices Act [CLAR2003EM.5.373] Transitional [CLAR2003EM.5.374] Schedule 4: Enforcement [CLAR2003EM.5.375] Part 1: Revision of criminal penalties Overview [CLAR2003EM.5.376] [CLAR2003EM.5.377] [CLAR2003EM.5.378] [CLAR2003EM.5.379] [CLAR2003EM.5.380] Part 2: Protection for employees reporting breaches to ASIC Overview [CLAR2003EM.5.381] Protection for disclosures of information [CLAR2003EM.5.382] [CLAR2003EM.5.383] [CLAR2003EM.5.384] [CLAR2003EM.5.385] [CLAR2003EM.5.386] [CLAR2003EM.5.387] [CLAR2003EM.5.388] [CLAR2003EM.5.389] [CLAR2003EM.5.390] [CLAR2003EM.5.391] Commencement [CLAR2003EM.5.392] Part 3: Disqualification of directors Increase of maximum period of disqualification in section 206D [CLAR2003EM.5.393] [CLAR2003EM.5.394] Extending the period of automatic disqualification [CLAR2003EM.5.395] [CLAR2003EM.5.396] Clarification of the disqualified persons register [CLAR2003EM.5.397] Part 4: Civil penalty provisions Overview [CLAR2003EM.5.398] Maximum financial services civil penalty [CLAR2003EM.5.399] Declarations of contravention and compensation orders [CLAR2003EM.5.400] References to compensation orders [CLAR2003EM.5.401] [CLAR2003EM.5.402] [CLAR2003EM.5.403] Technical amendment [CLAR2003EM.5.404] Transitional arrangements [CLAR2003EM.5.405] Part 5: Other amendments [CLAR2003EM.5.406] [CLAR2003EM.5.407] [CLAR2003EM.5.408] [CLAR2003EM.5.409] [CLAR2003EM.5.410] Schedule 5: Remuneration of directors and executives Overview [CLAR2003EM.5.411] [CLAR2003EM.5.412] [CLAR2003EM.5.413] [CLAR2003EM.5.414] [CLAR2003EM.5.415] [CLAR2003EM.5.416] [CLAR2003EM.5.417] [CLAR2003EM.5.418] Remuneration information to be on a group basis [CLAR2003EM.5.419] [CLAR2003EM.5.420] [CLAR2003EM.5.421] [CLAR2003EM.5.422] Specific content of the remuneration section of the annual directors' report [CLAR2003EM.5.423] [CLAR2003EM.5.424] [CLAR2003EM.5.425] [CLAR2003EM.5.426] [CLAR2003EM.5.427] Specific disclosures [CLAR2003EM.5.428] [CLAR2003EM.5.429] [CLAR2003EM.5.430] [CLAR2003EM.5.431] [CLAR2003EM.5.432] [CLAR2003EM.5.433] Discussion of remuneration disclosures at company AGMs [CLAR2003EM.5.434] [CLAR2003EM.5.435] [CLAR2003EM.5.436] Shareholder approval of termination payments [CLAR2003EM.5.437] [CLAR2003EM.5.438] [CLAR2003EM.5.439] [CLAR2003EM.5.440] [CLAR2003EM.5.441] [CLAR2003EM.5.442] [CLAR2003EM.5.443] [CLAR2003EM.5.444] Schedule 6: Continuous disclosure [CLAR2003EM.5.445] Part 1: General Overview [CLAR2003EM.5.446] [CLAR2003EM.5.447] [CLAR2003EM.5.448] [CLAR2003EM.5.449] [CLAR2003EM.5.450] Specific amendments [CLAR2003EM.5.451] [CLAR2003EM.5.452] Transitional arrangements [CLAR2003EM.5.453] Part 2: Infringement notices [CLAR2003EM.5.454] Overview [CLAR2003EM.5.456] [CLAR2003EM.5.457] [CLAR2003EM.5.458] [CLAR2003EM.5.459] [CLAR2003EM.5.460] [CLAR2003EM.5.461] [CLAR2003EM.5.462] [CLAR2003EM.5.463] [CLAR2003EM.5.464] [CLAR2003EM.5.465] Exclusion from AAT review [CLAR2003EM.5.466] Definitions [CLAR2003EM.5.467] [CLAR2003EM.5.468] [CLAR2003EM.5.469] [CLAR2003EM.5.470] [CLAR2003EM.5.471] [CLAR2003EM.5.472] [CLAR2003EM.5.473] Issue of an infringement notice [CLAR2003EM.5.474] [CLAR2003EM.5.475] [CLAR2003EM.5.476] [CLAR2003EM.5.477] [CLAR2003EM.5.478] [CLAR2003EM.5.479] [CLAR2003EM.5.480] [CLAR2003EM.5.481] [CLAR2003EM.5.482] Penalties specified in the infringement notice [CLAR2003EM.5.483] [CLAR2003EM.5.484] [CLAR2003EM.5.485] [CLAR2003EM.5.486] [CLAR2003EM.5.487] [CLAR2003EM.5.488] Effect of compliance with an infringement notice [CLAR2003EM.5.489] [CLAR2003EM.5.490] [CLAR2003EM.5.491] [CLAR2003EM.5.492] [CLAR2003EM.5.493] [CLAR2003EM.5.494] [CLAR2003EM.5.495] Effect of failure to comply with an infringement notice [CLAR2003EM.5.496] [CLAR2003EM.5.497] [CLAR2003EM.5.498] [CLAR2003EM.5.499] [CLAR2003EM.5.500] [CLAR2003EM.5.501] Compliance period for infringement notice [CLAR2003EM.5.502] Withdrawal of an infringement notice [CLAR2003EM.5.503] [CLAR2003EM.5.504] [CLAR2003EM.5.505] Publication of notice of compliance [CLAR2003EM.5.506] [CLAR2003EM.5.507] Commencement of criminal proceedings [CLAR2003EM.5.508] [CLAR2003EM.5.509] Transitional arrangements [CLAR2003EM.5.510] Schedule 7: Disclosure rules [CLAR2003EM.5.511] Part 1: Presentation of disclosure documents Presenting disclosure documents in a clear, concise and effective manner [CLAR2003EM.5.512] [CLAR2003EM.5.513] [CLAR2003EM.5.514] [CLAR2003EM.5.515] Breach of the presentational requirement [CLAR2003EM.5.516] [CLAR2003EM.5.517] [CLAR2003EM.5.518] Commencement of the provisions [CLAR2003EM.5.519] Part 2: Product Disclosure Statements for continuously quoted securities Overview [CLAR2003EM.5.520] [CLAR2003EM.5.521] [CLAR2003EM.5.522] [CLAR2003EM.5.523] [CLAR2003EM.5.524] Specific amendments [CLAR2003EM.5.525] [CLAR2003EM.5.526] [CLAR2003EM.5.527] [CLAR2003EM.5.528] [CLAR2003EM.5.529] Transitional arrangements [CLAR2003EM.5.530] Part 3: Exemptions from disclosure requirements Secondary sales where no disclosure document has been prepared [CLAR2003EM.5.531] [CLAR2003EM.5.532] Notice to the market [CLAR2003EM.5.533] [CLAR2003EM.5.534] [CLAR2003EM.5.535] [CLAR2003EM.5.536] [CLAR2003EM.5.537] [CLAR2003EM.5.538] [CLAR2003EM.5.539] [CLAR2003EM.5.540] [CLAR2003EM.5.541] Contemporaneous Prospectus [CLAR2003EM.5.542] [CLAR2003EM.5.543] Anti avoidance intent of the law remains [CLAR2003EM.5.544] The role of ASIC — future relief and determinations [CLAR2003EM.5.545] [CLAR2003EM.5.546] [CLAR2003EM.5.547] Application of Chapter 2L to debentures [CLAR2003EM.5.548] Similar relief from Chapter 7 secondary sale provisions [CLAR2003EM.5.549] Remedies [CLAR2003EM.5.550] [CLAR2003EM.5.551] Commencement of the provisions [CLAR2003EM.5.552] [CLAR2003EM.5.553] Schedule 8: Shareholder participation and information Overview [CLAR2003EM.5.554] Notices of meetings Content and presentation [CLAR2003EM.5.555] [CLAR2003EM.5.556] [CLAR2003EM.5.557] Electronic distribution [CLAR2003EM.5.558] [CLAR2003EM.5.559] [CLAR2003EM.5.560] [CLAR2003EM.5.561] Electronic distribution of annual reports [CLAR2003EM.5.562] [CLAR2003EM.5.563] Proxy voting Appointing bodies corporate as proxies [CLAR2003EM.5.564] [CLAR2003EM.5.565] Electronic authentication of proxy appointments [CLAR2003EM.5.566] Electronic submission of proxy forms [CLAR2003EM.5.567] [CLAR2003EM.5.568] Listed companies — notification of directorships [CLAR2003EM.5.569] Timing of application of new rules [CLAR2003EM.5.570] Schedule 9: Officers, senior managers and employees Overview [CLAR2003EM.5.571] Definition of 'officer' [CLAR2003EM.5.572] [CLAR2003EM.5.573] [CLAR2003EM.5.574] [CLAR2003EM.5.575] [CLAR2003EM.5.576] [CLAR2003EM.5.577] 'Employees' [CLAR2003EM.5.578] [CLAR2003EM.5.579] 'Executive officer' and 'senior manager' [CLAR2003EM.5.580] [CLAR2003EM.5.581] [CLAR2003EM.5.582] [CLAR2003EM.5.583] [CLAR2003EM.5.584] [CLAR2003EM.5.585] 'Provisional liquidator' [CLAR2003EM.5.586] 'Examinable officer' [CLAR2003EM.5.587] The ASIC Act [CLAR2003EM.5.588] [CLAR2003EM.5.589] [CLAR2003EM.5.590] [CLAR2003EM.5.591] Schedule 10: Management of conflicts of interest by financial services licensees Overview [CLAR2003EM.5.592] [CLAR2003EM.5.593] [CLAR2003EM.5.594] [CLAR2003EM.5.595] [CLAR2003EM.5.596] [CLAR2003EM.5.597] [CLAR2003EM.5.598] Types of conflicts of interest that must be managed [CLAR2003EM.5.599] [CLAR2003EM.5.600] Schedule 11: Miscellaneous amendments [CLAR2003EM.5.601] Corporations Legislation Amendment Act 2003 — technical amendments [CLAR2003EM.5.602] [CLAR2003EM.5.603] Directors' declaration on financial statements [CLAR2003EM.5.604] [CLAR2003EM.5.605] [CLAR2003EM.5.606] [CLAR2003EM.5.1] [CLAR2003EM.5.608] Other minor and technical amendments [CLAR2003EM.5.609] CORPORATE LAW ECONOMIC REFORM PROGRAM (AUDIT REFORM AND CORPORATE DISCLOSURE) BILL 2003 CORPORATE LAW ECONOMIC REFORM PROGRAM (AUDIT REFORM AND CORPORATE DISCLOSURE) BILL 2003 [CLARS2003.1] 1 Outline [CLARS2003.1.1] [CLARS2003.1.2] [CLARS2003.1.3] [CLARS2003.1.4] Proposed amendments [CLARS2003.1.5] [CLARS2003.2] Financial Impact Statement [CLARS2003.2.1] [CLARS2003.2.2] [CLARS2003.3] Regulation Impact Statement [CLARS2003.3.1] [CLARS2003.3.2] [CLARS2003.4] Notes on Clauses Clause 2 — Commencement Items 1 to 8 [CLARS2003.4.1] [CLARS2003.4.2] [CLARS2003.4.3] [CLARS2003.4.4] Schedule 1, Part 1 — Audit oversight Items 9 to 11 [CLARS2003.4.5] Items 12 to 18 [CLARS2003.4.6] [CLARS2003.4.7] [CLARS2003.4.8] Item 19 [CLARS2003.4.9] Schedule 1, Part 2 — Qualifications of auditors Item 20 [CLARS2003.4.10] [CLARS2003.4.11] [CLARS2003.4.12] Item 21 [CLARS2003.4.13] [CLARS2003.4.14] [CLARS2003.4.15] Item 22 [CLARS2003.4.16] [CLARS2003.4.17] [CLARS2003.4.18] Schedule 1, Part 3 — Auditor appointment, independence and rotation requirements Item 23 [CLARS2003.4.19] Item 24 [CLARS2003.4.20] Item 25 [CLARS2003.4.21] [CLARS2003.4.22] Items 26 and 31 [CLARS2003.4.23] [CLARS2003.4.24] Items 27 to 29 and 32 [CLARS2003.4.25] [CLARS2003.4.26] Items 30 and 33 [CLARS2003.4.27] [CLARS2003.4.28] Item 34 [CLARS2003.4.29] [CLARS2003.4.30] Item 35 [CLARS2003.4.31] Items 36, 39, 44, 48, 54, 60, 61 and 66 to 76 [CLARS2003.4.32] [CLARS2003.4.33] [CLARS2003.4.34] [CLARS2003.4.35] [CLARS2003.4.36] [CLARS2003.4.37] [CLARS2003.4.38] [CLARS2003.4.39] Item 37 [CLARS2003.4.40] Items 38 and 40 to 42 [CLARS2003.4.41] Items 43 and 45 to 47 [CLARS2003.4.42] Item 49 [CLARS2003.4.43] Items 50 to 52, 56 to 58 and 62 to 64 [CLARS2003.4.44] [CLARS2003.4.45] [CLARS2003.4.46] [CLARS2003.4.47] [CLARS2003.4.48] Items 53, 59 and 65 [CLARS2003.4.49] [CLARS2003.4.50] [CLARS2003.4.51] [CLARS2003.4.52] Item 55 [CLARS2003.4.53] Schedule 1, Part 4 — Registration of authorised audit companies Items 77 to 80 [CLARS2003.4.54] [CLARS2003.4.55] Item 81 [CLARS2003.4.56] [CLARS2003.4.57] Items 82 to 84 [CLARS2003.4.58] Schedule 1, Part 8 — Companies Auditors and Liquidators Disciplinary Board Items 85 to 87 [CLARS2003.4.59] Schedule 2, Part 3 — Financial Reporting Panel Item 88 [CLARS2003.4.60] [CLARS2003.4.61] Item 89 [CLARS2003.4.62] [CLARS2003.4.63] Item 90 [CLARS2003.4.64] [CLARS2003.4.65] Item 91 [CLARS2003.4.66] [CLARS2003.4.67] Items 92 and 93 [CLARS2003.4.68] [CLARS2003.4.69] Schedule 2, Part 4 — Content of financial reports Item 94 [CLARS2003.4.70] [CLARS2003.4.71] [CLARS2003.4.72] [CLARS2003.4.73] Schedule 4, Part 2 — Protection for employees reporting breaches Items 95 to 96 [CLARS2003.4.74] Items 97 to 99 [CLARS2003.4.75] [CLARS2003.4.76] [CLARS2003.4.77] [CLARS2003.4.78] Schedule 5 — Remuneration of directors and executives Item 100 [CLARS2003.4.79] [CLARS2003.4.80] Schedule 6 — Continuous disclosure Item 101 [CLARS2003.4.81] [CLARS2003.4.82] [CLARS2003.4.83] [CLARS2003.4.84] [CLARS2003.4.85] [CLARS2003.4.86] [CLARS2003.4.87] Item 102 [CLARS2003.4.88] [CLARS2003.4.89] Items 103 and 104 [CLARS2003.4.90] [CLARS2003.4.91] Schedule 7 — Disclosure rules Item 105 [CLARS2003.4.92] Item 106 [CLARS2003.4.93] Schedule 11A — Register of information about relevant interests Item 107 [CLARS2003.4.94] [CLARS2003.4.95] [CLARS2003.4.96] [CLARS2003.4.97] Specific amendments [CLARS2003.4.98] [CLARS2003.4.99] [CLARS2003.4.100] [CLARS2003.4.101] [CLARS2003.4.102] [CLARS2003.4.103] [CLARS2003.4.104] [CLARS2003.4.105] [CLARS2003.4.106] [CLARS2003.4.107] [CLARS2003.4.108] [CLARS2003.4.109] Schedule 12 — Transitional provisions Items 108 to 121, 123, 126 to 132, 134 to 146 and 148 to 151 [CLARS2003.4.110] Item 122 [CLARS2003.4.109] [CLARS2003.4.111] [CLARS2003.4.112] Items 124 and 125 [CLARS2003.4.113] [CLARS2003.4.114] [CLARS2003.4.115] Item 133 [CLARS2003.4.116] Item 147 [CLARS2003.4.117] [CLARS2003.4.118] CORPORATIONS LEGISLATION AMENDMENT (SIMPLER REGULATORY SYSTEM) BILL 2007 CORPORATIONS (FEES) AMENDMENT BILL 2007 CORPORATIONS (REVIEW FEES) AMENDMENT BILL 2007 CORPORATIONS LEGISLATION AMENDMENT (SIMPLER REGULATORY SYSTEM) BILL 2007 CORPORATIONS (FEES) AMENDMENT BILL 2007 CORPORATIONS (REVIEW FEES) AMENDMENT BILL 2007 Glossary General outline and financial impact Overview 1. Financial Services Regulation Summary of regulation impact statement Regulation impact on business: Statement of Advice threshold and product activity and data collection 2 Company Reporting Obligations Summary of regulation impact statement Regulation impact on business: thresholds for reporting by large proprietary companies 3. Auditor Independence 4. Corporate Governance 5. Fundraising Summary of regulation impact statement Regulation impact on business 6. Takeovers 7. Compliance [SRS2007.1] Chapter 1 Financial Services Regulation Outline of chapter [SRS2007.1.1] [SRS2007.1.2] [SRS2007.1.3] Context of amendments Exemption from providing a Statement of Advice — no product recommendation and no remuneration [SRS2007.1.4] [SRS2007.1.5] [SRS2007.1.6] [SRS2007.1.7] [SRS2007.1.8] Threshold for requiring a Statement of Advice [SRS2007.1.9] [SRS2007.1.10] [SRS2007.1.11] Financial Services Guide exemption — general advice to the public [SRS2007.1.12] [SRS2007.1.13] [SRS2007.1.14] Sophisticated investors [SRS2007.1.15] [SRS2007.1.16] [SRS2007.1.17] [SRS2007.1.18] [SRS2007.1.19] [SRS2007.1.20] Cross-endorsement of authorised representatives of licensees [SRS2007.1.21] [SRS2007.1.22] [SRS2007.1.23] Product activity and data collection [SRS2007.1.24] [SRS2007.1.25] Licensed market operators and related participants and listed bodies [SRS2007.1.26] [SRS2007.1.27] [SRS2007.1.28] [SRS2007.1.29] [SRS2007.1.30] [SRS2007.1.31] [SRS2007.1.32] Pooled superannuation trusts and product disclosure [SRS2007.1.33] [SRS2007.1.34] [SRS2007.1.35] Registered managed investment schemes investing in unregistered managed investment schemes [SRS2007.1.36] [SRS2007.1.37] [SRS2007.1.38] [SRS2007.1.39] Summary of new law and comparison of key features of new law and current law Exemption from providing a Statement of Advice — no product recommendation and no remuneration [SRS2007.1.40] Threshold for requiring a Statement of Advice [SRS2007.1.41] [SRS2007.1.42] [SRS2007.1.43] [SRS2007.1.44] [SRS2007.1.45] Financial Services Guide exemption — general advice to the public [SRS2007.1.46] [SRS2007.1.47] Sophisticated investors [SRS2007.1.48] [SRS2007.1.49] Cross-endorsement of authorised representatives by licensees [SRS2007.1.50] Product activity and data collection [SRS2007.1.51] [SRS2007.1.52] [SRS2007.1.53] [SRS2007.1.54] Licensed market operators and related participants and listed bodies [SRS2007.1.55] [SRS2007.1.56] Pooled superannuation trusts and product disclosure [SRS2007.1.57] Registered managed investment schemes investing in unregistered managed investment schemes [SRS2007.1.58] [SRS2007.1.59] Detailed explanation of new law Exemption from providing a Statement of Advice — no product recommendation and no remuneration [SRS2007.1.60] [SRS2007.1.61] [SRS2007.1.62] Threshold for requiring a Statement of Advice [SRS2007.1.63] [SRS2007.1.64] [SRS2007.1.65] [SRS2007.1.66] [SRS2007.1.67] Financial Services Guide exemption — general advice to the public [SRS2007.1.68] [SRS2007.1.69] [SRS2007.1.70] Sophisticated investors [SRS2007.1.71] [SRS2007.1.72] [SRS2007.1.73] [SRS2007.1.74] Cross-endorsement of authorised representatives [SRS2007.1.75] [SRS2007.1.76] [SRS2007.1.77] Product activity and data collection [SRS2007.1.78] [SRS2007.1.79] Licensed market operators and related listed bodies [SRS2007.1.80] [SRS2007.1.81] [SRS2007.1.82] [SRS2007.1.83] [SRS2007.1.84] [SRS2007.1.85] [SRS2007.1.86] Licensed market operators and related participants [SRS2007.1.87] [SRS2007.1.88] [SRS2007.1.89] [SRS2007.1.90] [SRS2007.1.91] [SRS2007.1.92] Pooled superannuation trusts and product disclosure [SRS2007.1.93] [SRS2007.1.94] Registered managed investment schemes investing in unregistered managed investment schemes [SRS2007.1.95] [SRS2007.1.96] Application and transitional provisions Exemption from providing a Statement of Advice — no product recommendation and no remuneration [SRS2007.1.97] Threshold for requiring a Statement of Advice [SRS2007.1.98] Financial Services Guide exemption — general advice to the public [SRS2007.1.99] Sophisticated investors [SRS2007.1.100] [SRS2007.1.101] Cross-endorsement of authorised representatives [SRS2007.1.102] [SRS2007.1.103] Product activity and data collection [SRS2007.1.104] Licensed market operators and related participants and listed bodies [SRS2007.1.105] [SRS2007.1.106] Pooled superannuation trusts and product disclosure [SRS2007.1.107] [SRS2007.1.108] Registered managed investment schemes investing in unregistered managed investment schemes [SRS2007.1.109] Consequential amendments Exemption from providing a Statement of Advice — no product recommendation and no remuneration [SRS2007.1.110] [SRS2007.1.111] [SRS2007.1.112] [SRS2007.1.113] [SRS2007.1.114] Threshold for requiring a Statement of Advice [SRS2007.1.115] [SRS2007.1.116] [SRS2007.1.117] [SRS2007.1.118] Financial Services Guide exemption — general advice to the public [SRS2007.1.119] Sophisticated investors [SRS2007.1.120] Cross-endorsement of authorised representatives [SRS2007.1.121] [SRS2007.1.122] Supporting bill Licensed market operators and related participants [SRS2007.1.123] [SRS2007.1.124] [SRS2007.2] Chapter 2 Company Reporting Obligations Outline of chapter [SRS2007.2.1] [SRS2007.2.2] Context of amendments [SRS2007.2.3] [SRS2007.2.4] [SRS2007.2.5] [SRS2007.2.6] Summary of new law [SRS2007.2.7] Comparison of key features of new law and current law Detailed explanation of new law Executive remuneration [SRS2007.2.8] [SRS2007.2.9] [SRS2007.2.10] [SRS2007.2.11] [SRS2007.2.12] [SRS2007.2.13] [SRS2007.2.14] [SRS2007.2.15] [SRS2007.2.16] [SRS2007.2.17] [SRS2007.2.18] Thresholds for reporting for large proprietary companies [SRS2007.2.19] [SRS2007.2.20] [SRS2007.2.21] [SRS2007.2.22] [SRS2007.2.23] [SRS2007.2.24] [SRS2007.2.25] [SRS2007.2.26] Notifications — change in office holders [SRS2007.2.27] [SRS2007.2.28] [SRS2007.2.29] [SRS2007.2.30] [SRS2007.2.31] [SRS2007.2.32] Notifications — company addresses [SRS2007.2.33] [SRS2007.2.34] [SRS2007.2.35] Simplifying voluntary deregistration [SRS2007.2.36] [SRS2007.2.37] [SRS2007.2.38] Upfront payment of annual review fees for companies [SRS2007.2.39] [SRS2007.2.40] [SRS2007.2.41] Distribution of annual reports [SRS2007.2.42] [SRS2007.2.43] [SRS2007.2.44] [SRS2007.2.45] [SRS2007.2.46] [SRS2007.2.47] [SRS2007.2.48] [SRS2007.2.49] [SRS2007.2.50] [SRS2007.2.51] [SRS2007.2.52] Application and transitional provisions Executive remuneration [SRS2007.2.53] Thresholds for reporting for large proprietary companies [SRS2007.2.54] Notifications — change in office holders [SRS2007.2.55] Notifications — company addresses [SRS2007.2.56] Simplifying voluntary deregistration [SRS2007.2.57] Upfront payment of annual review fees for companies [SRS2007.2.58] Distribution of annual reports [SRS2007.2.59] [SRS2007.2.60] Consequential amendments Thresholds for reporting for large proprietary companies [SRS2007.2.61] [SRS2007.2.62] Notifications — change in office holders [SRS2007.2.63] [SRS2007.2.64] [SRS2007.2.65] [SRS2007.2.66] Distribution of annual reports [SRS2007.2.67] [SRS2007.2.68] [SRS2007.2.69] Supporting Bill Upfront payment of annual review fees for companies [SRS2007.2.70] [SRS2007.2.71] [SRS2007.3] Chapter 3 Auditor Independence Outline of chapter [SRS2007.3.1] Context of amendments Anomalies arising from CLERP 9 [SRS2007.3.2] [SRS2007.3.3] [SRS2007.3.4] [SRS2007.3.5] [SRS2007.3.6] Improvements arising out of public consultations on the comparative review of Australia's auditor independence requirements [SRS2007.3.7] [SRS2007.3.8] [SRS2007.3.9] [SRS2007.3.10] Miscellaneous amendments [SRS2007.3.11] Summary of new law Anomalies arising from CLERP 9 [SRS2007.3.12] Improvements arising out of public consultations on the comparative review of Australia's auditor independence requirements [SRS2007.3.13] Miscellaneous amendments [SRS2007.3.14] Comparison of key features of new law and current law Detailed explanation of new law Anomalies arising from CLERP 9 Timing of auditor's independence declaration [SRS2007.3.15] [SRS2007.3.16] [SRS2007.3.17] [SRS2007.3.18] [SRS2007.3.19] [SRS2007.3.20] [SRS2007.3.21] Auditor's independence declaration — reporting of inadvertent breaches [SRS2007.3.22] [SRS2007.3.23] [SRS2007.3.24] [SRS2007.3.25] [SRS2007.3.26] [SRS2007.3.27] Money owed — debt: ordinary course of business exception [SRS2007.3.28] [SRS2007.3.29] [SRS2007.3.30] [SRS2007.3.31] [SRS2007.3.32] [SRS2007.3.33] [SRS2007.3.34] Money owed — deposit account [SRS2007.3.35] [SRS2007.3.36] [SRS2007.3.37] [SRS2007.3.38] [SRS2007.3.39] [SRS2007.3.40] [SRS2007.3.41] [SRS2007.3.42] Notification procedures [SRS2007.3.43] [SRS2007.3.44] [SRS2007.3.45] [SRS2007.3.46] [SRS2007.3.47] [SRS2007.3.48] [SRS2007.3.49] [SRS2007.3.50] [SRS2007.3.51] Improvements arising out of public consultations on the comparative review of Australia's auditor independence requirements Multiple former audit firm partner restriction [SRS2007.3.52] [SRS2007.3.53] [SRS2007.3.54] [SRS2007.3.55] [SRS2007.3.56] [SRS2007.3.57] [SRS2007.3.58] 'Cooling-off' period for former audit team partners [SRS2007.3.59] [SRS2007.3.60] [SRS2007.3.61] [SRS2007.3.62] Introduction of a 'covered person' approach to existing financial relationship restrictions [SRS2007.3.63] [SRS2007.3.64] [SRS2007.3.65] [SRS2007.3.66] [SRS2007.3.67] [SRS2007.3.68] [SRS2007.3.69] [SRS2007.3.70] [SRS2007.3.71] [SRS2007.3.72] [SRS2007.3.73] Miscellaneous amendments Drafting amendment [SRS2007.3.74] ASIC relief powers [SRS2007.3.75] [SRS2007.3.76] [SRS2007.3.77] [SRS2007.3.78] Audit of compliance plan [SRS2007.3.79] [SRS2007.3.80] Deletion of cross reference to a repealed provision [SRS2007.3.81] Appointment of auditor by licensee [SRS2007.3.82] Auditor's right of access to records, information etc [SRS2007.3.83] [SRS2007.3.84] Application and transitional provisions Anomalies arising from CLERP 9 [SRS2007.3.85] Improvements arising out of public consultations on the comparative review of Australia's auditor independence requirements [SRS2007.3.86] [SRS2007.3.87] [SRS2007.3.88] [SRS2007.4] Chapter 4 Corporate Governance Outline of chapter [SRS2007.4.1] Context of amendments [SRS2007.4.2] [SRS2007.4.3] [SRS2007.4.4] [SRS2007.4.5] Summary of new law [SRS2007.4.6] Comparison of key features of new law and current law Detailed explanation of new law Related party approval threshold [SRS2007.4.7] [SRS2007.4.8] [SRS2007.4.9] [SRS2007.4.10] [SRS2007.4.11] [SRS2007.4.12] [SRS2007.4.13] [SRS2007.4.14] [SRS2007.4.15] Approval of identical and otherwise unacceptable company names [SRS2007.4.16] [SRS2007.4.17] [SRS2007.4.18] [SRS2007.4.19] Pre-existing licences allowing companies to omit the word 'limited' from their names [SRS2007.4.20] [SRS2007.4.21] [SRS2007.4.22] [SRS2007.4.23] [SRS2007.4.24] Application and transitional provisions Related party approval threshold [SRS2007.4.25] Company names and pre-existing licences [SRS2007.4.26] [SRS2007.5] Chapter 5 Fundraising Outline of chapter [SRS2007.5.1] Context of amendments General background [SRS2007.5.2] [SRS2007.5.3] [SRS2007.5.4] [SRS2007.5.5] Rights issue disclosure for quoted securities and other financial products [SRS2007.5.6] [SRS2007.5.7] Small scale offerings [SRS2007.5.8] [SRS2007.5.9] [SRS2007.5.10] [SRS2007.5.11] Secondary sale issues [SRS2007.5.12] [SRS2007.5.13] [SRS2007.5.14] [SRS2007.5.15] [SRS2007.5.16] [SRS2007.5.17] [SRS2007.5.18] [SRS2007.5.19] [SRS2007.5.20] Employee unlisted share schemes [SRS2007.5.21] [SRS2007.5.22] [SRS2007.5.23] [SRS2007.5.24] Advertising rules for offers of securities requiring a disclosure document and for offers or issues of other financial products [SRS2007.5.25] Stapled securities disclosure [SRS2007.5.26] [SRS2007.5.27] [SRS2007.5.28] Summary of new law Rights issue disclosure for quoted securities and other financial products [SRS2007.5.29] [SRS2007.5.30] [SRS2007.5.31] [SRS2007.5.32] Small scale offerings [SRS2007.5.33] [SRS2007.5.34] Secondary sale issues [SRS2007.5.35] [SRS2007.5.36] [SRS2007.5.37] [SRS2007.5.38] [SRS2007.5.39] Employee unlisted share schemes [SRS2007.5.40] [SRS2007.5.41] [SRS2007.5.42] [SRS2007.5.43] [SRS2007.5.44] [SRS2007.5.45] [SRS2007.5.46] [SRS2007.5.47] Advertising rules for offers of securities requiring a disclosure document and for offers of other financial products [SRS2007.5.48] [SRS2007.5.49] [SRS2007.5.50] Stapled securities disclosure [SRS2007.5.51] Comparison of key features of new law and current law Detailed explanation of new law Rights issue disclosure for quoted securities and other financial products [SRS2007.5.52] [SRS2007.5.53] [SRS2007.5.54] [SRS2007.5.55] [SRS2007.5.56] [SRS2007.5.57] [SRS2007.5.58] [SRS2007.5.59] Small scale offerings [SRS2007.5.60] [SRS2007.5.61] [SRS2007.5.62] [SRS2007.5.63] Secondary sale issues [SRS2007.5.64] [SRS2007.5.65] [SRS2007.5.66] [SRS2007.5.67] [SRS2007.5.68] [SRS2007.5.69] [SRS2007.5.70] [SRS2007.5.71] [SRS2007.5.72] [SRS2007.5.73] [SRS2007.5.74] Employee unlisted share schemes [SRS2007.5.75] [SRS2007.5.76] [SRS2007.5.77] [SRS2007.5.78] [SRS2007.5.79] [SRS2007.5.80] [SRS2007.5.81] Advertising rules for offers of securities requiring a disclosure document and for offers of other financial products [SRS2007.5.82] [SRS2007.5.83] [SRS2007.5.84] [SRS2007.5.85] [SRS2007.5.86] [SRS2007.5.87] Stapled securities disclosure [SRS2007.5.88] [SRS2007.5.89] [SRS2007.5.90] [SRS2007.5.91] [SRS2007.5.92] [SRS2007.5.93] [SRS2007.5.94] [SRS2007.5.95] [SRS2007.5.96] [SRS2007.5.97] [SRS2007.5.98] Application and transitional provisions Rights issue disclosure for quoted securities and other financial products [SRS2007.5.99] [SRS2007.5.100] Small scale offerings [SRS2007.5.101] [SRS2007.5.102] Secondary sale issues [SRS2007.5.103] Employee unlisted share schemes [SRS2007.5.104] [SRS2007.5.105] Advertising rules for offers of securities requiring a disclosure document and for offers or issues of other financial products [SRS2007.5.106] [SRS2007.5.107] Stapled securities disclosure [SRS2007.5.108] [SRS2007.5.109] Consequential amendments Rights issue disclosure for quoted securities and other financial products [SRS2007.5.110] [SRS2007.5.111] [SRS2007.5.112] [SRS2007.5.113] [SRS2007.5.114] [SRS2007.5.115] [SRS2007.5.116] [SRS2007.5.117] Small scale offerings [SRS2007.5.118] Secondary sale issues [SRS2007.5.119] Employee unlisted share schemes [SRS2007.5.120] Advertising rules for offers of securities requiring a disclosure document and for offers of other financial products [SRS2007.5.121] Stapled securities disclosure [SRS2007.5.122] [SRS2007.5.123] [SRS2007.5.124] [SRS2007.5.125] [SRS2007.5.126] [SRS2007.5.127] [SRS2007.6] Chapter 6 Takeovers Outline of chapter [SRS2007.6.1] Context of amendments Remove telephone monitoring during takeover bids [SRS2007.6.2] [SRS2007.6.3] [SRS2007.6.4] [SRS2007.6.5] Remove section 665D and 665E notices (85 per cent notices) [SRS2007.6.6] [SRS2007.6.7] [SRS2007.6.8] [SRS2007.6.9] [SRS2007.6.10] [SRS2007.6.11] Summary of new law [SRS2007.6.12] Comparison of key features of new law and current law Detailed explanation of new law [SRS2007.6.13] [SRS2007.6.14] Application and transitional provisions [SRS2007.6.15] Consequential amendments [SRS2007.6.16] [SRS2007.6.17] [SRS2007.7] Chapter 7 Compliance Outline of chapter [SRS2007.7.1] Context of amendments [SRS2007.7.2] [SRS2007.7.3] Summary of new law [SRS2007.7.4] Comparison of key features of new law and current law Detailed explanation of new law Simplifying returns of company particulars [SRS2007.7.5] [SRS2007.7.6] [SRS2007.7.7] [SRS2007.7.8] [SRS2007.7.9] [SRS2007.7.10] Electronic registration of company charges [SRS2007.7.11] [SRS2007.7.12] [SRS2007.7.13] [SRS2007.7.14] [SRS2007.7.15] Application and transitional provisions [SRS2007.7.16] [SRS2007.7.17] Consequential amendments Electronic registration of company charges [SRS2007.7.18] [SRS2007.8] Chapter 8 Regulation impact statement: financial services regulation Background CORPORATIONS LEGISLATION AMENDMENT (SIMPLER REGULATORY SYSTEM) BILL 2007 CORPORATIONS (FEES) AMENDMENT BILL 2007 CORPORATIONS (REVIEW FEES) AMENDMENT BILL 2007 [SRS2007.8] Chapter 8 Regulation impact statement: financial services regulation [SRS2007.8.1] [SRS2007.8.2] [SRS2007.8.3] [SRS2007.8.4] [SRS2007.8.5] Refinements to Financial Services Regulation Refinements to financial services regulation proposals paper [SRS2007.8.6] [SRS2007.8.7] [SRS2007.8.8] [SRS2007.8.9] [SRS2007.8.10] Corporate and Financial Services Regulation Review Consultation Paper [SRS2007.8.11] [SRS2007.8.12] [SRS2007.8.13] [SRS2007.8.14] [SRS2007.8.15] Corporate and Financial Services Regulation Review Proposals Paper [SRS2007.8.16] [SRS2007.8.17] [SRS2007.8.18] [SRS2007.8.19] [SRS2007.8.20] [SRS2007.8.21] Problem identification [SRS2007.8.22] [SRS2007.8.23] [SRS2007.8.24] [SRS2007.8.25] [SRS2007.8.26] Objectives [SRS2007.8.27] [SRS2007.8.28] [SRS2007.8.29] Identification of options, impact analysis, conclusions and recommendations Impact assessment methodology [SRS2007.8.30] [SRS2007.8.31] [SRS2007.8.32] Rating an individual impact [SRS2007.8.33] [SRS2007.8.34] [SRS2007.8.35] Illustrative rating for the problem of a long-wearing tyre that may fail Option A: Do nothing Option B: Ban on sale of the new tyre Option C: Industry-developed quality control standards [SRS2007.8.36] Identification of problems, options, impact analysis, conclusions and recommendations in relation to the Statement of Advice threshold (Proposal 1.3) Problem Situation [SRS2007.8.37] [SRS2007.8.38] Problem [SRS2007.8.39] [SRS2007.8.40] [SRS2007.8.41] [SRS2007.8.42] [SRS2007.8.43] Objective [SRS2007.8.44] [SRS2007.8.45] Options Option A: No action [SRS2007.8.46] Option B: Subjective proportionate threshold for the provision of a Statement of Advice [SRS2007.8.47] [SRS2007.8.48] [SRS2007.8.49] [SRS2007.8.50] Option C: Objective dollar threshold for the provision of a Statement of Advice [SRS2007.8.51] [SRS2007.8.52] [SRS2007.8.53] [SRS2007.8.54] [SRS2007.8.55] Impact analysis Impact group identification [SRS2007.8.56] Assessment of costs and benefits Option A: No action Option B: Subjective proportionate threshold for the provision of a Statement of Advice Option C: Objective dollar threshold for the provision of a Statement of Advice Business Cost Calculator [SRS2007.8.57] [SRS2007.8.58] [SRS2007.8.59] [SRS2007.8.60] Consultation Summary of comments [SRS2007.8.61] [SRS2007.8.62] [SRS2007.8.63] [SRS2007.8.64] [SRS2007.8.65] [SRS2007.8.66] [SRS2007.8.67] [SRS2007.8.68] [SRS2007.8.69] [SRS2007.8.70] [SRS2007.8.71] Conclusion and recommended option [SRS2007.8.72] [SRS2007.8.73] [SRS2007.8.74] [SRS2007.8.75] [SRS2007.8.76] [SRS2007.8.77] [SRS2007.8.78] Product activity and data collection (Proposal 1.9) Problem Situation [SRS2007.8.79] Problem [SRS2007.8.80] [SRS2007.8.81] [SRS2007.8.82] [SRS2007.8.83] Objective Options Option A: No action [SRS2007.8.84] Option B: Remove all legislative requirements to report Product Disclosure Statements to ASIC [SRS2007.8.85] Option C: Introduce on-line reporting of Product Disclosure Statements to ASIC [SRS2007.8.86] [SRS2007.8.87] [SRS2007.8.88] [SRS2007.8.89] [SRS2007.8.90] Impact analysis Impact group identification [SRS2007.8.91] Assessment of costs and benefits Option A: No action Option B: Remove all legislative requirements to report Product Disclosure Statements to ASIC Option C: Introduce on-line reporting of Product Disclosure Statements to ASIC Business Cost Calculator [SRS2007.8.92] [SRS2007.8.93] [SRS2007.8.94] [SRS2007.8.95] Consultation [SRS2007.8.96] [SRS2007.8.97] [SRS2007.8.98] [SRS2007.8.99] [SRS2007.8.100] [SRS2007.8.101] Conclusion and recommended option [SRS2007.8.102] [SRS2007.8.103] [SRS2007.8.104] [SRS2007.8.105] Implementation and review [SRS2007.8.106] [SRS2007.8.107] [SRS2007.8.108] [SRS2007.9] Chapter 9 Regulation impact statement: thresholds for reporting for large proprietary companies Background [SRS2007.9.1] [SRS2007.9.2] [SRS2007.9.3] [SRS2007.9.4] [SRS2007.9.5] Problem identification [SRS2007.9.6] Objectives [SRS2007.9.7] Identification of options [SRS2007.9.8] Option 1 [SRS2007.9.9] [SRS2007.9.10] Option 2 [SRS2007.9.11] [SRS2007.9.12] Option 3 [SRS2007.9.13] [SRS2007.9.14] Option 4 [SRS2007.9.15] Analysis of the impact of the options [SRS2007.9.16] Option 1 Benefits [SRS2007.9.17] [SRS2007.9.18] Costs [SRS2007.9.19] Option 2 Benefits [SRS2007.9.20] Costs [SRS2007.9.21] Option 3 Benefits [SRS2007.9.22] Costs [SRS2007.9.23] Option 4 Benefits [SRS2007.9.24] Costs [SRS2007.9.25] Economy wide effects [SRS2007.9.26] [SRS2007.9.27] [SRS2007.9.28] Large proprietary companies — accessing capital [SRS2007.9.29] [SRS2007.9.30] Total costs [SRS2007.9.31] Consultation [SRS2007.9.32] [SRS2007.9.33] [SRS2007.9.34] [SRS2007.9.35] [SRS2007.9.36] Conclusion and recommended option [SRS2007.9.37] [SRS2007.9.38] [SRS2007.9.39] [SRS2007.9.40] [SRS2007.9.41] [SRS2007.9.42] [SRS2007.9.43] [SRS2007.9.44] Implementation and review [SRS2007.9.45] [SRS2007.9.46] Financial impact statement [SRS2007.9.47] [SRS2007.10] Chapter 10 Regulation impact statement: rights issues and employee share schemes Background [SRS2007.10.1] [SRS2007.10.2] [SRS2007.10.3] [SRS2007.10.4] Problem identification Rights Issues [SRS2007.10.5] [SRS2007.10.6] [SRS2007.10.7] Employee shareholder schemes [SRS2007.10.8] [SRS2007.10.9] [SRS2007.10.10] Policy objective Rights issues [SRS2007.10.11] [SRS2007.10.12] Employee share schemes [SRS2007.10.13] [SRS2007.10.14] [SRS2007.10.15] [SRS2007.10.16] [SRS2007.10.17] [SRS2007.10.18] Implementation options Rights issues Option A: Do nothing: Option B: Require a prospectus for all fundraisings: Option C: Remove the prospectus requirement for rights issues subject to the obligation to provide certain defined information to the market: Employee share schemes Option A: Do nothing: Option B: Provide extensive relief for unlisted company ESSs from the relevant provisions of the Corporations Act Option C: Provide limited relief for unlisted company ESSs from the relevant provisions of the Corporations Act Assessment of impacts [SRS2007.10.19] [SRS2007.10.20] [SRS2007.10.21] Rating an individual impact [SRS2007.10.22] [SRS2007.10.23] [SRS2007.10.24] [SRS2007.10.25] Option A: Do nothing Option B: Ban on sale of the new tyre Option C: Industry-developed quality control standards [SRS2007.10.26] Analysis of costs/benefits Rights issues [SRS2007.10.27] Option A: Do nothing Option B: Require a prospectus for all fundraisings Option C: Remove the prospectus requirement for rights issues subject to the obligation to provide certain defined information to the market Employee shareholder schemes [SRS2007.10.28] Option A: Do nothing Option B: Provide extensive relief for unlisted company ESS from the provisions of the Corporations Act Option C: Exempt unlisted company ESSs from certain provisions of the Corporations Act, while maintaining an adequate level of investor protection for employees considering participation in such schemes Business cost calculator [SRS2007.10.29] [SRS2007.10.30] [SRS2007.10.31] Consultation [SRS2007.10.32] [SRS2007.10.33] [SRS2007.10.34] [SRS2007.10.35] [SRS2007.10.36] [SRS2007.10.37] [SRS2007.10.38] Conclusion and recommended option Rights issues [SRS2007.10.39] [SRS2007.10.40] [SRS2007.10.41] ESSs for unlisted companies [SRS2007.10.42] [SRS2007.11] Index Unless otherwise indicated, items are in Schedule 1 of the Corporations Legislation Amendment (Simpler Regulatory System) Bill 2007. CORPORATIONS (NZ CLOSER ECONOMIC RELATIONS) AND OTHER LEGISLATION AMENDMENT BILL 2007 CORPORATIONS (NZ CLOSER ECONOMIC RELATIONS) AND OTHER LEGISLATION AMENDMENT BILL 2007 [CLNZ2007EM.1] 1 Outline [CLNZ2007EM.1.1] [CLNZ2007EM.1.2] [CLNZ2007EM.1.3] [CLNZ2007EM.1.4] [CLNZ2007EM.1.5] [CLNZ2007EM.1.6] [CLNZ2007EM.1.7] [CLNZ2007EM.1.8] [CLNZ2007EM.1.9] [CLNZ2007EM.1.10] [CLNZ2007EM.2] 2 Abbreviations [CLNZ2007EM.3] 3 Financial Impact Statement [CLNZ2007EM.3.1] [CLNZ2007EM.3.2] [CLNZ2007EM.4] 4 Regulatory Impact Statement Schedule 1 — Mutual recognition of securities offers Background [CLNZ2007EM.4.1] [CLNZ2007EM.4.2] [CLNZ2007EM.4.3] [CLNZ2007EM.4.4] Offers by Australian offerors in New Zealand [CLNZ2007EM.4.5] [CLNZ2007EM.4.6] [CLNZ2007EM.4.7] [CLNZ2007EM.4.8] [CLNZ2007EM.4.9] [CLNZ2007EM.4.10] Offers by New Zealand offerors in Australia [CLNZ2007EM.4.11] [CLNZ2007EM.4.12] [CLNZ2007EM.4.13] Problem identification The need to regulate offers of securities [CLNZ2007EM.4.14] [CLNZ2007EM.4.15] Two regulatory regimes [CLNZ2007EM.4.16] [CLNZ2007EM.4.17] [CLNZ2007EM.4.18] [CLNZ2007EM.4.19] The effect of the current regulatory regime [CLNZ2007EM.4.20] [CLNZ2007EM.4.21] [CLNZ2007EM.4.22] [CLNZ2007EM.4.23] [CLNZ2007EM.4.24] The problem [CLNZ2007EM.4.25] Objectives [CLNZ2007EM.4.26] Description of options [CLNZ2007EM.4.27] [CLNZ2007EM.4.28] [CLNZ2007EM.4.29] Option one — disapplication of domestic law [CLNZ2007EM.4.30] [CLNZ2007EM.4.31] [CLNZ2007EM.4.32] [CLNZ2007EM.4.33] Option two — incorporation of foreign law [CLNZ2007EM.4.34] [CLNZ2007EM.4.35] [CLNZ2007EM.4.36] Option three — compliance with substantive requirements of domestic law [CLNZ2007EM.4.37] [CLNZ2007EM.4.38] [CLNZ2007EM.4.39] [CLNZ2007EM.4.40] [CLNZ2007EM.4.41] [CLNZ2007EM.4.42] [CLNZ2007EM.4.43] Impact analysis [CLNZ2007EM.4.44] [CLNZ2007EM.4.45] [CLNZ2007EM.4.46] Benefits from overcoming mutually exclusive regulatory requirements [CLNZ2007EM.4.47] [CLNZ2007EM.4.48] [CLNZ2007EM.4.49] [CLNZ2007EM.4.50] Option one [CLNZ2007EM.4.51] Options two and three [CLNZ2007EM.4.52] [CLNZ2007EM.4.53] [CLNZ2007EM.4.54] [CLNZ2007EM.4.55] [CLNZ2007EM.4.56] [CLNZ2007EM.4.57] [CLNZ2007EM.4.58] Maintenance of appropriate domestic regulatory outcomes [CLNZ2007EM.4.59] [CLNZ2007EM.4.60] Option one [CLNZ2007EM.4.61] [CLNZ2007EM.4.62] [CLNZ2007EM.4.63] [CLNZ2007EM.4.64] [CLNZ2007EM.4.65] [CLNZ2007EM.4.66] Options two and three [CLNZ2007EM.4.67] [CLNZ2007EM.4.68] [CLNZ2007EM.4.69] [CLNZ2007EM.4.70] [CLNZ2007EM.4.71] [CLNZ2007EM.4.72] National/parliamentary sovereignty [CLNZ2007EM.4.73] [CLNZ2007EM.4.74] Option one [CLNZ2007EM.4.75] Option two [CLNZ2007EM.4.76] Option three [CLNZ2007EM.4.77] [CLNZ2007EM.4.78] [CLNZ2007EM.4.79] Complexity [CLNZ2007EM.4.80] [CLNZ2007EM.4.81] Option one [CLNZ2007EM.4.82] Options two and three [CLNZ2007EM.4.83] [CLNZ2007EM.4.84] [CLNZ2007EM.4.85] [CLNZ2007EM.4.86] Summary [CLNZ2007EM.4.87] [CLNZ2007EM.4.88] Consultation [CLNZ2007EM.4.89] [CLNZ2007EM.4.90] [CLNZ2007EM.4.91] [CLNZ2007EM.4.92] [CLNZ2007EM.4.93] [CLNZ2007EM.4.94] [CLNZ2007EM.4.95] [CLNZ2007EM.4.96] Conclusion and recommended option [CLNZ2007EM.4.97] [CLNZ2007EM.4.98] [CLNZ2007EM.4.99] [CLNZ2007EM.4.100] [CLNZ2007EM.4.101] [CLNZ2007EM.4.102] Implementation and review [CLNZ2007EM.4.103] [CLNZ2007EM.4.104] [CLNZ2007EM.4.105] [CLNZ2007EM.4.106] [CLNZ2007EM.4.107] [CLNZ2007EM.4.108] [CLNZ2007EM.4.109] [CLNZ2007EM.4.110] [CLNZ2007EM.4.111] [CLNZ2007EM.4.112] [CLNZ2007EM.4.113] [CLNZ2007EM.5] 5 Notes on individual clauses Clause 1 — Short title [CLNZ2007EM.5.1] Clause 2 — Commencement [CLNZ2007EM.5.2] [CLNZ2007EM.5.3] Clause 3 — Schedule(s) [CLNZ2007EM.5.4] Schedule 1 — Mutual recognition of securities offerings Item 18 — Mutual recognition of securities offerings [CLNZ2007EM.5.5] Part 8.1 — Preliminary Definitions [CLNZ2007EM.5.6] [CLNZ2007EM.5.7] [CLNZ2007EM.5.8] [CLNZ2007EM.5.9] Part 8.2 — Foreign offers that are recognised in this jurisdiction [CLNZ2007EM.5.10] Division 1 — Recognised offers Entry requirements [CLNZ2007EM.5.11] [CLNZ2007EM.5.12] The offeror [CLNZ2007EM.5.13] [CLNZ2007EM.5.14] [CLNZ2007EM.5.15] [CLNZ2007EM.5.16] [CLNZ2007EM.5.17] [CLNZ2007EM.5.18] The kind of offer [CLNZ2007EM.5.19] Notice and documentation to ASIC [CLNZ2007EM.5.20] [CLNZ2007EM.5.21] [CLNZ2007EM.5.22] [CLNZ2007EM.5.23] [CLNZ2007EM.5.24] [CLNZ2007EM.5.25] When is an offer a recognised offer? [CLNZ2007EM.5.26] [CLNZ2007EM.5.27] [CLNZ2007EM.5.28] [CLNZ2007EM.5.29] Division 2 — Effect of a recognised offer and Division 4 — Modifications of provisions of this Act [CLNZ2007EM.5.30] Provisions which are 'turned off' [CLNZ2007EM.5.31] Provisions which are not 'turned off' [CLNZ2007EM.5.32] [CLNZ2007EM.5.33] [CLNZ2007EM.5.34] [CLNZ2007EM.5.35] Flexibility [CLNZ2007EM.5.36] [CLNZ2007EM.5.37] [CLNZ2007EM.5.38] [CLNZ2007EM.5.39] [CLNZ2007EM.5.40] [CLNZ2007EM.5.41] Division 3 — Ongoing conditions for recognised offers [CLNZ2007EM.5.42] Ongoing requirements Chapter 8 specific [CLNZ2007EM.5.43] [CLNZ2007EM.5.44] [CLNZ2007EM.5.45] Continuous disclosure [CLNZ2007EM.5.46] [CLNZ2007EM.5.47] [CLNZ2007EM.5.48] Division 5 — ASIC's power in relation to recognised offers [CLNZ2007EM.5.49] Role of the regulators Australian and New Zealand responsibility [CLNZ2007EM.5.50] [CLNZ2007EM.5.51] [CLNZ2007EM.5.52] [CLNZ2007EM.5.53] [CLNZ2007EM.5.54] ASIC's powers [CLNZ2007EM.5.55] [CLNZ2007EM.5.56] [CLNZ2007EM.5.57] [CLNZ2007EM.5.58] [CLNZ2007EM.5.59] [CLNZ2007EM.5.60] [CLNZ2007EM.5.61] [CLNZ2007EM.5.62] Division 6 — Miscellaneous [CLNZ2007EM.5.63] Service [CLNZ2007EM.5.64] [CLNZ2007EM.5.65] Part 8.3 — Offers made under foreign recognition scheme Australian offers recognised in foreign jurisdictions [CLNZ2007EM.5.66] [CLNZ2007EM.5.67] Requirements of the offer [CLNZ2007EM.5.68] [CLNZ2007EM.5.69] [CLNZ2007EM.5.70] [CLNZ2007EM.5.71] Australian and New Zealand regulators [CLNZ2007EM.5.72] [CLNZ2007EM.5.73] ASIC's powers [CLNZ2007EM.5.74] Other consequential changes (Schedule 1) Items 1 to 17 [CLNZ2007EM.5.75] Schedule 2 — Recognition of companies Background [CLNZ2007EM.5.76] [CLNZ2007EM.5.77] [CLNZ2007EM.5.78] [CLNZ2007EM.5.79] Item 1 [CLNZ2007EM.5.80] [CLNZ2007EM.5.81] Item 2 [CLNZ2007EM.5.82] Item 3 [CLNZ2007EM.5.83] [CLNZ2007EM.5.84] Schedule 3 — Protection of information obtained by the Australian Competition and Consumer Commission Item 3 — New section 155AAA [CLNZ2007EM.5.85] Protection of certain information [CLNZ2007EM.5.86] [CLNZ2007EM.5.87] Disclosure to Ministers [CLNZ2007EM.5.88] [CLNZ2007EM.5.89] [CLNZ2007EM.5.90] Disclosure to Secretaries etc [CLNZ2007EM.5.91] [CLNZ2007EM.5.92] [CLNZ2007EM.5.93] Disclosure to a Royal Commission [CLNZ2007EM.5.94] [CLNZ2007EM.5.95] [CLNZ2007EM.5.96] Disclosure to certain agencies, bodies and persons [CLNZ2007EM.5.97] [CLNZ2007EM.5.98] [CLNZ2007EM.5.99] Disclosure with consent [CLNZ2007EM.5.100] Disclosure of publicly available information [CLNZ2007EM.5.101] Disclosure of summaries or statistics [CLNZ2007EM.5.102] Disclosure authorised by regulations [CLNZ2007EM.5.103] [CLNZ2007EM.5.104] [CLNZ2007EM.5.105] Delegation [CLNZ2007EM.5.106] Definitions [CLNZ2007EM.5.107] Items [1] to [2] and [9] — Consequential amendments to the Radiocommunications Act 1992 and the Trade Practices Act 1974 [CLNZ2007EM.5.108] Item [1] —– Subsection 118C(6) [CLNZ2007EM.5.109] Item [2] — Subsection 118G(6) [CLNZ2007EM.5.110] Item [9] — Section 155AB [CLNZ2007EM.5.111] Items [4] to [8] — Section 155AA [CLNZ2007EM.5.112] Item [4] — Subsection 155AA(1) [CLNZ2007EM.5.113] Item [5] — Paragraph 155AA(1)(b) [CLNZ2007EM.5.114] Item [6] — Subsection 155AA(2) [CLNZ2007EM.5.115] Item [7] — Subsection 155AA(2) [CLNZ2007EM.5.116] Item [8] — Subsection 155AA(3) (definition of protected Part IV information) [CLNZ2007EM.5.117] CORPORATIONS LEGISLATION AMENDMENT (FINANCIAL SERVICES MODERNISATION) BILL 2009 CORPORATIONS LEGISLATION AMENDMENT (FINANCIAL SERVICES MODERNISATION) BILL 2009 Glossary General outline and financial impact General background Dates of effect: Financial impacts: Compliance cost impacts: Summary of regulation impact statement Regulation impact on business Margin loans: Trustee companies: Debentures: Technical amendment [FSM2009.1] Chapter 1 Margin loans Outline of chapter [FSM2009.1.1] [FSM2009.1.2] [FSM2009.1.3] Context of amendments [FSM2009.1.4] [FSM2009.1.5] [FSM2009.1.6] [FSM2009.1.7] [FSM2009.1.8] [FSM2009.1.9] [FSM2009.1.10] [FSM2009.1.11] [FSM2009.1.12] [FSM2009.1.13] [FSM2009.1.14] Current legislative framework [FSM2009.1.15] [FSM2009.1.16] Key risks [FSM2009.1.17] Opes Prime style arrangements [FSM2009.1.18] Double gearing [FSM2009.1.19] [FSM2009.1.20] [FSM2009.1.21] Margin calls [FSM2009.1.22] [FSM2009.1.23] Summary of new law [FSM2009.1.24] [FSM2009.1.25] [FSM2009.1.26] [FSM2009.1.27] [FSM2009.1.28] [FSM2009.1.29] [FSM2009.1.30] [FSM2009.1.31] [FSM2009.1.32] Comparison of key features of new law and current law Detailed explanation of new law Definition of a margin lending facility Capture as a financial product [FSM2009.1.33] [FSM2009.1.34] [FSM2009.1.35] [FSM2009.1.36] Meaning of issue of margin lending facility [FSM2009.1.37] General definition — margin lending facility [FSM2009.1.38] [FSM2009.1.39] [FSM2009.1.40] [FSM2009.1.41] [FSM2009.1.42] Standard margin lending facilities [FSM2009.1.43] [FSM2009.1.44] [FSM2009.1.45] Example 1.1: Example of a margin loan [FSM2009.1.46] Use of the loan [FSM2009.1.47] [FSM2009.1.48] Investment lending [FSM2009.1.49] Example 1.2: Examples of excluded investment lending [FSM2009.1.50] Example 1.3: Examples of excluded lending Non-standard margin lending facilities [FSM2009.1.51] [FSM2009.1.52] [FSM2009.1.53] [FSM2009.1.54] [FSM2009.1.55] Example 1.4: Example of a non-standard margin loan [FSM2009.1.56] [FSM2009.1.57] Example 1.5: Example of normal stock lending arrangements ASIC may declare facilities to be margin lending facilities [FSM2009.1.58] [FSM2009.1.59] Meaning of limit of a margin lending facility [FSM2009.1.60] Responsible lending for margin lending facilities [FSM2009.1.61] Requirement to make assessment of unsuitability [FSM2009.1.62] [FSM2009.1.63] [FSM2009.1.64] [FSM2009.1.65] Unsuitability assessment [FSM2009.1.66] Reasonable inquiries etc. about the retail client [FSM2009.1.67] [FSM2009.1.68] [FSM2009.1.69] [FSM2009.1.70] [FSM2009.1.71] [FSM2009.1.72] [FSM2009.1.73] [FSM2009.1.74] [FSM2009.1.75] [FSM2009.1.76] Reliance on information provided in a statement of advice [FSM2009.1.77] [FSM2009.1.78] [FSM2009.1.79] [FSM2009.1.80] When margin lending facility must be assessed as unsuitable [FSM2009.1.81] [FSM2009.1.82] [FSM2009.1.83] [FSM2009.1.84] [FSM2009.1.85] Giving the retail client the assessment [FSM2009.1.86] [FSM2009.1.87] [FSM2009.1.88] [FSM2009.1.89] [FSM2009.1.90] [FSM2009.1.91] [FSM2009.1.92] Unsuitable margin lending facilities [FSM2009.1.93] [FSM2009.1.94] [FSM2009.1.95] Notification of margin calls Issuer must notify client of margin call [FSM2009.1.96] [FSM2009.1.97] When issuer must notify client's agent, and agent must notify client, of margin call [FSM2009.1.98] [FSM2009.1.99] [FSM2009.1.100] When and how notification must be given [FSM2009.1.101] [FSM2009.1.102] [FSM2009.1.103] [FSM2009.1.104] Margin lending facility not to be conditional on notification arrangements [FSM2009.1.105] General amendments [FSM2009.1.106] [FSM2009.1.107] [FSM2009.1.108] Application and transitional provisions [FSM2009.1.109] [FSM2009.1.110] [FSM2009.1.111] [FSM2009.1.112] [FSM2009.1.113] [FSM2009.1.114] [FSM2009.1.115] [FSM2009.1.116] [FSM2009.2] Chapter 2 Regulation of trustee companies Outline of chapter [FSM2009.2.1] [FSM2009.2.2] Context of amendments [FSM2009.2.3] [FSM2009.2.4] [FSM2009.2.5] [FSM2009.2.6] [FSM2009.2.7] [FSM2009.2.8] [FSM2009.2.9] [FSM2009.2.10] [FSM2009.2.11] [FSM2009.2.12] [FSM2009.2.13] Summary of new law [FSM2009.2.14] Comparison of key features of new law and current law Detailed explanation of new law [FSM2009.2.15] Jurisdictional scope [FSM2009.2.16] Part 5D.1 — Preliminary Key concepts and definitions Regulation of trustee companies [FSM2009.2.17] [FSM2009.2.18] [FSM2009.2.19] Example 2.1 [FSM2009.2.20] [FSM2009.2.21] Services covered by this chapter [FSM2009.2.22] [FSM2009.2.23] [FSM2009.2.24] Services that are not covered by this chapter [FSM2009.2.25] Meaning of 'client' [FSM2009.2.26] Meaning of 'court' and 'Court' [FSM2009.2.27] Meaning of 'person with a proper interest' [FSM2009.2.28] Other key definitions [FSM2009.2.29] [FSM2009.2.30] [FSM2009.2.31] [FSM2009.2.32] [FSM2009.2.33] Interaction between trustee company provisions and State and Territory laws [FSM2009.2.34] [FSM2009.2.35] [FSM2009.2.36] [FSM2009.2.37] [FSM2009.2.38] Part 5D.2 — Powers etc. of licensed trustee companies [FSM2009.2.39] [FSM2009.2.40] Division 1 — General provisions [FSM2009.2.41] [FSM2009.2.42] [FSM2009.2.43] Division 2 — Accounts [FSM2009.2.44] Licensed trustee company not required to file accounts [FSM2009.2.45] Licensed trustee company may be required to provide account in relation to estate [FSM2009.2.46] [FSM2009.2.47] [FSM2009.2.48] [FSM2009.2.49] [FSM2009.2.50] [FSM2009.2.51] Court may order audit [FSM2009.2.52] [FSM2009.2.53] [FSM2009.2.54] Division 3 — Common funds [FSM2009.2.55] [FSM2009.2.56] [FSM2009.2.57] [FSM2009.2.58] Obligations relating to common funds [FSM2009.2.59] [FSM2009.2.60] [FSM2009.2.61] Regulations relating to establishment or operation of common funds [FSM2009.2.62] [FSM2009.2.63] Part 5D.3 — Regulation of fees charged by licensed trustee companies [FSM2009.2.64] [FSM2009.2.65] [FSM2009.2.66] Division 1 — Disclosure of fees charged to estates and trusts [FSM2009.2.67] Disclosure of fees to the public [FSM2009.2.68] [FSM2009.2.69] Provision of Financial Services Guide [FSM2009.2.70] [FSM2009.2.71] [FSM2009.2.72] Disclosure to clients of changed fees [FSM2009.2.73] [FSM2009.2.74] [FSM2009.2.75] [FSM2009.2.76] Division 2 — General arrangements about charging fees [FSM2009.2.77] Power to charge fees [FSM2009.2.78] [FSM2009.2.79] [FSM2009.2.80] [FSM2009.2.81] [FSM2009.2.82] [FSM2009.2.83] [FSM2009.2.84] Division 3 — Fees charged to trusts and estates (other than for being trustee or manager of a charitable trust) [FSM2009.2.85] [FSM2009.2.86] [FSM2009.2.87] [FSM2009.2.88] [FSM2009.2.89] [FSM2009.2.90] Division 4 — Fees for being trustee or manager of a charitable trust [FSM2009.2.91] [FSM2009.2.92] [FSM2009.2.93] [FSM2009.2.94] Subdivision A — Fees for new charitable trusts [FSM2009.2.95] [FSM2009.2.96] [FSM2009.2.97] [FSM2009.2.98] [FSM2009.2.99] [FSM2009.2.100] [FSM2009.2.101] [FSM2009.2.102] [FSM2009.2.103] [FSM2009.2.104] [FSM2009.2.105] Common funds [FSM2009.2.106] [FSM2009.2.107] Additional amounts for preparation of returns etc. [FSM2009.2.108] Subdivision B — Existing client charitable trusts [FSM2009.2.109] [FSM2009.2.110] [FSM2009.2.111] [FSM2009.2.112] [FSM2009.2.113] Division 5 — Miscellaneous [FSM2009.2.114] Power of the Court with respect to excessive fees [FSM2009.2.115] [FSM2009.2.116] [FSM2009.2.117] [FSM2009.2.118] [FSM2009.2.119] Directors' fees otherwise payable to an officer of a trustee company [FSM2009.2.120] [FSM2009.2.121] Part 5D.4 — Duties of officers and employees of licensed trustee companies [FSM2009.2.122] [FSM2009.2.123] Duties of officers [FSM2009.2.124] Duties of loyalty and good faith [FSM2009.2.125] [FSM2009.2.126] Duties of care, skill and diligence [FSM2009.2.127] [FSM2009.2.128] [FSM2009.2.129] [FSM2009.2.130] Duties of employees [FSM2009.2.131] [FSM2009.2.132] [FSM2009.2.133] [FSM2009.2.134] Part 5D.5 — Limit on control of licensed trustee companies [FSM2009.2.135] [FSM2009.2.136] [FSM2009.2.137] Unacceptable control situation — the 15 per cent limitation [FSM2009.2.138] [FSM2009.2.139] [FSM2009.2.140] Division 2 — Approval to exceed 15 per cent limitation [FSM2009.2.141] [FSM2009.2.142] [FSM2009.2.143] [FSM2009.2.144] [FSM2009.2.145] [FSM2009.2.146] [FSM2009.2.147] Powers of the Court relating to unacceptable control situations Court orders [FSM2009.2.148] [FSM2009.2.149] [FSM2009.2.150] [FSM2009.2.151] Injunctions [FSM2009.2.152] [FSM2009.2.153] [FSM2009.2.154] Other matters Acquisition of property [FSM2009.2.155] Anti-avoidance [FSM2009.2.156] [FSM2009.2.157] [FSM2009.2.158] [FSM2009.2.159] [FSM2009.2.160] Part 5D.6 — Consequences of cancellation of Australian financial services licence [FSM2009.2.161] [FSM2009.2.162] [FSM2009.2.163] Key definitions for the Part [FSM2009.2.164] [FSM2009.2.165] [FSM2009.2.166] Compulsory transfer determinations [FSM2009.2.167] [FSM2009.2.168] [FSM2009.2.169] [FSM2009.2.170] Minister's power to decide that consent not required [FSM2009.2.171] [FSM2009.2.172] Determinations may impose conditions [FSM2009.2.173] [FSM2009.2.174] [FSM2009.2.175] [FSM2009.2.176] Notice of determination [FSM2009.2.177] Certificate of transfer [FSM2009.2.178] [FSM2009.2.179] [FSM2009.2.180] [FSM2009.2.181] Notice of certificate [FSM2009.2.182] Time and effect of compulsory transfer [FSM2009.2.183] Substitution of trustee company [FSM2009.2.184] Liabilities for breach of trust and other matters [FSM2009.2.185] [FSM2009.2.186] Other matters related to transfer of estate assets and liabilities [FSM2009.2.187] Miscellaneous [FSM2009.2.188] [FSM2009.2.189] [FSM2009.2.190] [FSM2009.2.191] [FSM2009.2.192] [FSM2009.2.193] Part 5D.7 — Effect of contraventions Civil liability of licensed trustee company [FSM2009.2.194] [FSM2009.2.195] [FSM2009.2.196] Part 5D.8 — Exemptions and modifications [FSM2009.2.197] ASIC exemption and modification power [FSM2009.2.198] [FSM2009.2.199] [FSM2009.2.200] [FSM2009.2.201] [FSM2009.2.202] Exemptions and modifications by regulations [FSM2009.2.203] [FSM2009.2.204] [FSM2009.2.205] Regulating traditional trustee company services as financial services under Chapter 7 of the Corporations Act [FSM2009.2.206] Traditional trustee company services are generally provided to retail clients [FSM2009.2.207] [FSM2009.2.208] [FSM2009.2.209] Traditional trustee company services provided by trustee companies are financial services [FSM2009.2.210] [FSM2009.2.211] [FSM2009.2.212] [FSM2009.2.213] [FSM2009.2.214] [FSM2009.2.215] Other amendments Application of Chapter 5D to the Crown [FSM2009.2.216] Court order required before trustee company can be voluntarily wound up if estates remain unadministered [FSM2009.2.217] Dealing with clients' money [FSM2009.2.218] Civil and criminal penalties [FSM2009.2.219] [FSM2009.2.220] Consequential amendments of Corporations Act and other Acts Corporations Act amendments [FSM2009.2.221] [FSM2009.2.222] [FSM2009.2.223] [FSM2009.2.224] ASIC Act amendments [FSM2009.2.225] [FSM2009.2.226] [FSM2009.2.227] Commencement and transitional provisions [FSM2009.2.228] [FSM2009.2.229] [FSM2009.2.230] [FSM2009.2.231] [FSM2009.2.232] Transitional provisions relating to limit on control of trustee companies [FSM2009.2.233] Transitional provisions relating to the amendments of Chapter 7 [FSM2009.2.234] [FSM2009.2.235] [FSM2009.2.236] [FSM2009.2.237] Example 2.2 General power for regulations to deal with transitional matters [FSM2009.2.238] [FSM2009.3] Chapter 3 Regulation of debentures Outline of chapter [FSM2009.3.1] [FSM2009.3.2] [FSM2009.3.3] Context of amendments [FSM2009.3.4] [FSM2009.3.5] [FSM2009.3.6] [FSM2009.3.7] [FSM2009.3.8] [FSM2009.3.9] [FSM2009.3.10] [FSM2009.3.11] [FSM2009.3.12] [FSM2009.3.13] [FSM2009.3.14] [FSM2009.3.15] Summary of new law [FSM2009.3.16] [FSM2009.3.17] Comparison of key features of new law and current law Detailed explanation of new law Definition of debenture [FSM2009.3.18] [FSM2009.3.19] [FSM2009.3.20] Duty to notify ASIC of information related to the trustee [FSM2009.3.21] [FSM2009.3.22] [FSM2009.3.23] Register relating to trustees for debenture holders [FSM2009.3.24] [FSM2009.3.25] [FSM2009.3.26] [FSM2009.3.27] Application and transitional provisions [FSM2009.3.28] [FSM2009.3.29] [FSM2009.4] Chapter 4 Technical amendment relating to jurisdiction of courts Outline of chapter [FSM2009.4.1] Context of amendments [FSM2009.4.2] Summary of new law [FSM2009.4.3] Comparison of key features of new law and current law Detailed explanation of new law [FSM2009.4.4] Application and transitional provisions [FSM2009.4.5] [FSM2009.5] Chapter 5 Regulation impact statement — Margin loans Commonwealth regulation of margin loans — regulation impact statement Part 1 — Introduction [FSM2009.5.1] [FSM2009.5.2] [FSM2009.5.3] [FSM2009.5.4] [FSM2009.5.5] Part 2 — Consultation Green Paper on Financial Services and Credit Reform [FSM2009.5.6] [FSM2009.5.7] [FSM2009.5.8] Margin loans [FSM2009.5.9] [FSM2009.5.10] [FSM2009.5.11] [FSM2009.5.12] [FSM2009.5.13] [FSM2009.5.14] Part 3 — Regulation impact assessment Impact assessment methodology [FSM2009.5.15] [FSM2009.5.16] [FSM2009.5.17] Table 5.1: Rating an individual impact [FSM2009.5.18] [FSM2009.5.19] [FSM2009.5.20] Illustrative rating for the problem of a long-wearing tyre that may fail Option A: Do nothing Table 5.2 Option B: Ban on sale of the new tyre Table 5.3 Option C: Industry-developed quality control standards Table 5.4 [FSM2009.5.21] Margin lending Problem identification [FSM2009.5.22] [FSM2009.5.23] [FSM2009.5.24] [FSM2009.5.25] [FSM2009.5.26] Objectives [FSM2009.5.27] Options Status quo [FSM2009.5.28] [FSM2009.5.29] Option A: Include margin loans as a financial product under the Corporations Act and apply Chapter 7 with some modifications [FSM2009.5.30] [FSM2009.5.31] [FSM2009.5.32] Option B: Incorporate margin loans in the new Commonwealth credit legislation [FSM2009.5.33] [FSM2009.5.34] Impact analysis [FSM2009.5.35] [FSM2009.5.36] [FSM2009.5.37] [FSM2009.5.38] [FSM2009.5.39] Table 5.5: Status quo Option A Table 5.6 Option B Table 5.7 Consultation [FSM2009.5.40] [FSM2009.5.41] [FSM2009.5.42] [FSM2009.5.43] [FSM2009.5.44] [FSM2009.5.45] Conclusion and recommended option [FSM2009.5.46] [FSM2009.5.47] [FSM2009.5.48] Part 4 Implementation and review [FSM2009.5.49] [FSM2009.5.50] [FSM2009.5.51] [FSM2009.6] Chapter 6 Regulation impact statement — Margin loans — Attachment A Executive summary [FSM2009.6.1] Background Consumer credit [FSM2009.6.2] [FSM2009.6.3] [FSM2009.6.4] [FSM2009.6.5] [FSM2009.6.6] [FSM2009.6.7] Current regulation of consumer credit [FSM2009.6.8] [FSM2009.6.9] History of the Uniform Consumer Credit Code [FSM2009.6.10] [FSM2009.6.11] [FSM2009.6.12] Outstanding UCCC projects [FSM2009.6.13] [FSM2009.6.14] Additional State and Territory specific regulation [FSM2009.6.15] Draft New South Wales National Finance Brokers Package [FSM2009.6.16] [FSM2009.6.17] [FSM2009.6.18] [FSM2009.6.19] [FSM2009.6.20] [FSM2009.6.21] Margin loans [FSM2009.6.22] [FSM2009.6.23] [FSM2009.6.24] Current regulation of margin loans [FSM2009.6.25] [FSM2009.6.26] [FSM2009.6.27] [FSM2009.6.28] [FSM2009.6.29] CORPORATIONS LEGISLATION AMENDMENT (FINANCIAL SERVICES MODERNISATION) BILL 2009 [FSM2009.6] Chapter 6 Regulation impact statement — Margin loans — Attachment A [FSM2009.6.30] [FSM2009.6.31] [FSM2009.6.32] [FSM2009.6.33] [FSM2009.6.34] Financial Services Reform — Chapter 7 of the Corporations Act [FSM2009.6.35] [FSM2009.6.36] [FSM2009.6.37] [FSM2009.6.38] Problem identification Consumer credit [FSM2009.6.39] [FSM2009.6.40] [FSM2009.6.41] [FSM2009.6.42] [FSM2009.6.43] [FSM2009.6.44] [FSM2009.6.45] [FSM2009.6.46] Margin loans [FSM2009.6.47] [FSM2009.6.48] [FSM2009.6.49] [FSM2009.6.50] Policy objectives [FSM2009.6.51] [FSM2009.6.52] [FSM2009.6.53] [FSM2009.6.54] Implementation options Implementation scope [FSM2009.6.55] [FSM2009.6.56] [FSM2009.6.57] Potential enhancements to the regulation of consumer credit under the national regime [FSM2009.6.58] [FSM2009.6.59] [FSM2009.6.60] [FSM2009.6.61] [FSM2009.6.62] [FSM2009.6.63] [FSM2009.6.64] [FSM2009.6.65] All industry participants may need to be licensed [FSM2009.6.66] [FSM2009.6.67] [FSM2009.6.68] [FSM2009.6.69] [FSM2009.6.70] Industry participants may need to provide additional disclosure to consumers. [FSM2009.6.71] [FSM2009.6.72] [FSM2009.6.73] [FSM2009.6.74] [FSM2009.6.75] [FSM2009.6.76] The expected conduct and behaviour of industry participants in relation to their dealings with consumers may need to be regulated. [FSM2009.6.77] [FSM2009.6.78] [FSM2009.6.79] [FSM2009.6.80] [FSM2009.6.81] [FSM2009.6.82] [FSM2009.6.83] [FSM2009.6.84] Industry participants may need to provide access to appropriate dispute resolution services. [FSM2009.6.85] [FSM2009.6.86] [FSM2009.6.87] [FSM2009.6.88] [FSM2009.6.89] [FSM2009.6.90] The regime will need to be enforced by a national regulator, namely ASIC, in a way which minimises avoidance of the requirements. [FSM2009.6.91] [FSM2009.6.92] [FSM2009.6.93] [FSM2009.6.94] [FSM2009.6.95] [FSM2009.6.96] Proposed regulation of margin loans under Chapter 7 of the Corporations Act [FSM2009.6.97] [FSM2009.6.98] [FSM2009.6.99] Implementation mechanisms [FSM2009.6.100] [FSM2009.6.101] [FSM2009.6.102] Assessment of impacts Impact group identification [FSM2009.6.103] Assessment of costs and benefits Option A: Extend Chapter 7 of the Corporations Act to include all consumer credit products. Table 6.1 Option B: Enact relevant provisions of the UCCC and the draft Finance Brokers Bill, supplemented as required, as Commonwealth law Table 6.2 Preferred approach — Option B [FSM2009.6.104] [FSM2009.6.105] Business cost calculator Consumer credit [FSM2009.6.106] [FSM2009.6.107] [FSM2009.6.108] Margin loans [FSM2009.6.109] [FSM2009.6.110] [FSM2009.6.111] [FSM2009.6.112] Staging [FSM2009.6.113] [FSM2009.6.114] [FSM2009.6.115] [FSM2009.6.116] [FSM2009.6.117] [FSM2009.6.118] [FSM2009.6.119] [FSM2009.6.120] [FSM2009.6.121] [FSM2009.6.122] Consultation Consumer credit Green Paper on Financial Services and Credit Reform [FSM2009.6.123] [FSM2009.6.124] [FSM2009.6.125] [FSM2009.6.126] Other consultations, reviews and regulation impact statements [FSM2009.6.127] [FSM2009.6.128] [FSM2009.6.129] [FSM2009.6.130] [FSM2009.6.131] [FSM2009.6.132] [FSM2009.6.133] Margin loans [FSM2009.6.134] [FSM2009.6.135] [FSM2009.6.136] [FSM2009.6.137] Recommended option and conclusion [FSM2009.6.138] Implementation Plan Error! Not a valid link. Error! Not a valid link. [FSM2009.6.139] Implementation and review [FSM2009.6.140] [FSM2009.6.141] [FSM2009.7] Chapter 7 Regulation impact statement — Commonwealth regulation of trustee companies Problem Background Existing meaning of 'trustee company' [FSM2009.7.1] Overview of trustee companies industry [FSM2009.7.2] [FSM2009.7.3] [FSM2009.7.4] (a) Applies for probate, and/or acts as an executor or as administrator, of a deceased estate [FSM2009.7.5] [FSM2009.7.6] [FSM2009.7.7] (b) Acts as trustee of a trust estate [FSM2009.7.8] (c) Operates a common fund [FSM2009.7.9] (d) Acts under a power of attorney [FSM2009.7.10] (e) Other functions [FSM2009.7.11] [FSM2009.7.12] Broader financial services [FSM2009.7.13] Market characteristics [FSM2009.7.14] [FSM2009.7.15] [FSM2009.7.16] [FSM2009.7.17] Current regulation of trustee companies [FSM2009.7.18] [FSM2009.7.19] [FSM2009.7.20] Other current regulation of trustee companies (outside of scope) [FSM2009.7.21] [FSM2009.7.22] [FSM2009.7.23] [FSM2009.7.24] Regulatory need [FSM2009.7.25] [FSM2009.7.26] [FSM2009.7.27] [FSM2009.7.28] [FSM2009.7.29] [FSM2009.7.30] [FSM2009.7.31] [FSM2009.7.32] [FSM2009.7.33] [FSM2009.7.34] Table 1.1: Complaints received by TCA Secretariat [FSM2009.7.35] [FSM2009.7.36] [FSM2009.7.37] [FSM2009.7.38] Current regulatory problem [FSM2009.7.39] [FSM2009.7.40] [FSM2009.7.41] [FSM2009.7.42] [FSM2009.7.43] [FSM2009.7.44] [FSM2009.7.45] Objectives of Government action [FSM2009.7.46] Options that may achieve objectives(s) [FSM2009.7.47] [FSM2009.7.48] [FSM2009.7.49] Option 1: Status Quo [FSM2009.7.50] [FSM2009.7.51] [FSM2009.7.52] [FSM2009.7.53] [FSM2009.7.54] [FSM2009.7.55] Option 2: Consumer protection and disclosure regulation with supervision by ASIC [FSM2009.7.56] [FSM2009.7.57] [FSM2009.7.58] [FSM2009.7.59] [FSM2009.7.60] [FSM2009.7.61] [FSM2009.7.62] [FSM2009.7.63] [FSM2009.7.64] [FSM2009.7.65] Option 3: Prudential regulation with supervision by the Australian Prudential Regulation Authority [FSM2009.7.66] [FSM2009.7.67] [FSM2009.7.68] [FSM2009.7.69] [FSM2009.7.70] [FSM2009.7.71] [FSM2009.7.72] [FSM2009.7.73] [FSM2009.7.74] [FSM2009.7.75] [FSM2009.7.76] [FSM2009.7.77] Table 1.2: Comparison of current State and Territory regulatory obligations and Commonwealth proposals Impact analysis [FSM2009.7.78] [FSM2009.7.79] [FSM2009.7.80] Option 1: Status Quo [FSM2009.7.81] [FSM2009.7.82] Start up/transitional costs [FSM2009.7.83] [FSM2009.7.84] [FSM2009.7.85] Ongoing compliance costs [FSM2009.7.86] Ongoing supervision costs [FSM2009.7.87] Benefits for trustee companies [FSM2009.7.88] [FSM2009.7.89] Benefits for consumers [FSM2009.7.90] [FSM2009.7.91] Option 2: Consumer protection model administered by ASIC [FSM2009.7.92] [FSM2009.7.93] [FSM2009.7.94] [FSM2009.7.95] Start up/transitional costs [FSM2009.7.96] [FSM2009.7.97] [FSM2009.7.98] [FSM2009.7.99] Ongoing compliance costs [FSM2009.7.100] [FSM2009.7.101] [FSM2009.7.102] [FSM2009.7.103] Ongoing supervision costs [FSM2009.7.104] [FSM2009.7.105] Benefits for trustee companies [FSM2009.7.106] [FSM2009.7.107] [FSM2009.7.108] [FSM2009.7.109] [FSM2009.7.110] Benefits for consumers [FSM2009.7.111] [FSM2009.7.112] [FSM2009.7.113] [FSM2009.7.114] [FSM2009.7.115] Table 1.3: Ownership restrictions [FSM2009.7.116] [FSM2009.7.117] [FSM2009.7.118] [FSM2009.7.119] Option 3: Prudential regulation administered by APRA [FSM2009.7.120] [FSM2009.7.121] [FSM2009.7.122] Start up/transitional costs [FSM2009.7.123] [FSM2009.7.124] [FSM2009.7.125] [FSM2009.7.126] Ongoing compliance costs [FSM2009.7.127] [FSM2009.7.128] [FSM2009.7.129] Ongoing supervision costs [FSM2009.7.130] Benefits for trustee companies [FSM2009.7.131] [FSM2009.7.132] [FSM2009.7.133] Benefits for consumers [FSM2009.7.134] [FSM2009.7.135] Consultation [FSM2009.7.136] [FSM2009.7.137] [FSM2009.7.138] [FSM2009.7.139] [FSM2009.7.140] [FSM2009.7.141] [FSM2009.7.142] [FSM2009.7.143] [FSM2009.7.144] [FSM2009.7.145] Conclusion and recommended option [FSM2009.7.146] [FSM2009.7.147] Objective 1 [FSM2009.7.148] Achieved by [FSM2009.7.149] Objective 2 [FSM2009.7.150] Achieved by [FSM2009.7.151] Objective 3 [FSM2009.7.152] Achieved by [FSM2009.7.153] Objective 4 [FSM2009.7.154] Achieved by [FSM2009.7.155] Objective 5 [FSM2009.7.156] Achieved by [FSM2009.7.157] Objective 6 [FSM2009.7.158] Achieved by [FSM2009.7.159] Implementation and review [FSM2009.7.160] [FSM2009.7.161] [FSM2009.7.162] [FSM2009.7.163] [FSM2009.7.164] [FSM2009.8] Chapter 8 Regulation impact statement — Harmonisation of the treatment of debentures and promissory notes Introduction [FSM2009.8.1] [FSM2009.8.2] [FSM2009.8.3] [FSM2009.8.4] [FSM2009.8.5] [FSM2009.8.6] [FSM2009.8.7] [FSM2009.8.8] [FSM2009.8.9] [FSM2009.8.10] [FSM2009.8.11] [FSM2009.8.12] Example 8.1: Case study — Westpoint [FSM2009.8.13] [FSM2009.8.14] [FSM2009.8.15] [FSM2009.8.16] Current arrangements Regulation of debentures [FSM2009.8.17] [FSM2009.8.18] Unlisted issues of debentures [FSM2009.8.19] [FSM2009.8.20] Regulation of promissory notes [FSM2009.8.21] [FSM2009.8.22] [FSM2009.8.23] [FSM2009.8.24] Table 8.1: Summary of the current regulatory framework for promissory notes ASIC's work [FSM2009.8.25] [FSM2009.8.26] [FSM2009.8.27] [FSM2009.8.28] Systemic risks with collapses in this sector [FSM2009.8.29] [FSM2009.8.30] [FSM2009.8.31] [FSM2009.8.32] [FSM2009.8.33] [FSM2009.8.34] [FSM2009.8.35] Objectives of Government action [FSM2009.8.36] [FSM2009.8.37] [FSM2009.8.38] Consultation [FSM2009.8.39] [FSM2009.8.40] [FSM2009.8.41] [FSM2009.8.42] Submissions [FSM2009.8.43] [FSM2009.8.44] [FSM2009.8.45] Options Option 1 — No change [FSM2009.8.46] Option 2 — Harmonise the regulation of debentures and promissory notes [FSM2009.8.47] Option 3 — Self regulation [FSM2009.8.48] Impact analysis Impact group identification [FSM2009.8.49] Assumptions [FSM2009.8.50] [FSM2009.8.51] Assessment of costs and benefits Conclusion and recommended option [FSM2009.8.52] [FSM2009.8.53] [FSM2009.8.54] [FSM2009.8.55] [FSM2009.8.56] Discussion of Options [FSM2009.8.57] [FSM2009.8.58] [FSM2009.8.59] [FSM2009.8.60] [FSM2009.8.61] [FSM2009.8.62] [FSM2009.8.63] [FSM2009.8.64] [FSM2009.8.65] [FSM2009.8.66] [FSM2009.8.67] [FSM2009.8.68] [FSM2009.8.69] Conclusion [FSM2009.8.70] [FSM2009.8.71] Implementation and review [FSM2009.8.72] [FSM2009.8.73] [FSM2009.8.74] [FSM2009.8.75] [FSM2009.8.76] [FSM2009.8.77] [FSM2009.9] Index Schedule 1: Margin loans Schedule 2: Regulation of trustee companies Schedule 3: Regulation of debentures Schedule 4: Technical amendment relating to jurisdiction of courts Schedule 5: Application and transitional provisions CORPORATIONS AMENDMENT (IMPROVING ACCOUNTABILITY ON TERMINATION PAYMENTS) BILL 2009 CORPORATIONS AMENDMENT (IMPROVING ACCOUNTABILITY ON TERMINATION PAYMENTS) BILL 2009 Glossary General outline and financial impact Outline Summary of regulation impact statement Regulation impact on business [CLTP2009.1] Chapter 1 Introduction Clause 1: Short title [CLTP2009.1.1] Clause 2: Commencement [CLTP2009.1.2] Clause 3: Schedules [CLTP2009.1.3] [CLTP2009.2] Chapter 2 Schedule 1 — Amendments Outline of chapter [CLTP2009.2.1] Context of amendments [CLTP2009.2.2] [CLTP2009.2.3] [CLTP2009.2.4] Summary of new law [CLTP2009.2.5] [CLTP2009.2.6] [CLTP2009.2.7] [CLTP2009.2.8] Comparison of key features of new law and current law Detailed explanation of new law Definitions [CLTP2009.2.9] [CLTP2009.2.10] [CLTP2009.2.11] [CLTP2009.2.12] [CLTP2009.2.13] Lowering the threshold for shareholder approval [CLTP2009.2.14] [CLTP2009.2.15] [CLTP2009.2.16] [CLTP2009.2.17] [CLTP2009.2.18] [CLTP2009.2.19] Extending the scope to executives If the company is a disclosing entity [CLTP2009.2.20] [CLTP2009.2.21] Otherwise [CLTP2009.2.22] [CLTP2009.2.23] [CLTP2009.2.24] [CLTP2009.2.25] Meaning of termination benefit [CLTP2009.2.26] [CLTP2009.2.27] [CLTP2009.2.28] [CLTP2009.2.29] [CLTP2009.2.30] [CLTP2009.2.31] [CLTP2009.2.32] [CLTP2009.2.33] [CLTP2009.2.34] [CLTP2009.2.35] [CLTP2009.2.36] Shareholder voting requirements [CLTP2009.2.37] [CLTP2009.2.38] [CLTP2009.2.39] [CLTP2009.2.40] [CLTP2009.2.41] Requirement to repay unauthorised benefit and to hold on trust [CLTP2009.2.42] [CLTP2009.2.43] Penalty provisions [CLTP2009.2.44] [CLTP2009.2.45] [CLTP2009.3] Chapter 3 Part 2 — Other Amendments Detailed explanation of new law [CLTP2009.3.1] [CLTP2009.4] Index Schedule 1: Amendments CORPORATIONS AMENDMENT (CORPORATE REPORTING REFORM) BILL 2010 CORPORATIONS AMENDMENT (CORPORATE REPORTING REFORM) BILL 2010 Glossary General outline and financial impact General outline Summary of regulation impact statement Regulation impact on business [CRR2010.1] Chapter 1 Companies limited by guarantee Context of amendments [CRR2010.1-1] [CRR2010.1-2] [CRR2010.1-3] Table 1.1: Size of companies limited by guarantee1 [CRR2010.1-4] [CRR2010.1-5] [CRR2010.1-6] [CRR2010.1-7] Summary of new law [CRR2010.1-8] [CRR2010.1-9] [CRR2010.1-10] Comparison of key features of new law and current law Detailed explanation of new law Differential reporting framework [CRR2010.1-11] [CRR2010.1-12] [CRR2010.1-13] [CRR2010.1-14] [CRR2010.1-15] [Schedule 1, Part 1, item 14, section 285A] Exception where direction by ASIC or members [CRR2010.1-16] [CRR2010.1-17] [CRR2010.1-18] Exception for Commonwealth companies or subsidiaries of Commonwealth companies and Commonwealth authorities [CRR2010.1-19] [Schedule 1, Part 1, items 4 and 30, paragraphs 45B(1)(d) and 301(3)(a)] [CRR2010.1-20] [CRR2010.1-21] [CRR2010.1-22] [CRR2010.1-23] Exception for certain bodies corporate [CRR2010.1-24] [Schedule 1, Part 1, item 4, paragraph 45B(1)] [CRR2010.1-25] Audits and reviews [CRR2010.1-26] [CRR2010.1-27] [CRR2010.1-28] [CRR2010.1-29] [CRR2010.1-30] [CRR2010.1-31] [CRR2010.1-32] [CRR2010.1-33] Streamlined directors' report [CRR2010.1-34] [CRR2010.1-35] [CRR2010.1-36] [Schedule 1, Part 1, item 29, subsections 300B(1) and (2)] [CRR2010.1-37] [Schedule 1, Part 1, item 29, subsection 300B(3)] [CRR2010.1-38] Distribution of annual reports [CRR2010.1-39] [CRR2010.1-40] [CRR2010.1-41] [CRR2010.1-42] Payment of dividends [CRR2010.1-43] [CRR2010.1-44] [CRR2010.1-45] [CRR2010.2] Chapter 2 Parent-entity financial statements Context of amendments [CRR2010.2-1] [CRR2010.2-2] [CRR2010.2-3] [CRR2010.2-4] Summary of new law [CRR2010.2-5] [CRR2010.2-6] [CRR2010.2-7] Comparison of key features of new law and current law Detailed explanation of new law [CRR2010.2-8] [CRR2010.2-9] [CRR2010.2-10] Application and transitional provisions [CRR2010.2-11] [CRR2010.2-12] [CRR2010.2-13] [CRR2010.3] Chapter 3 Requirements for paying dividends Context of amendments [CRR2010.3-1] [CRR2010.3-2] [CRR2010.3-3] Summary of new law [CRR2010.3-4] [Schedule 1, Part 1, item 7, section 254T] [CRR2010.3-5] [CRR2010.3-6] [CRR2010.3-7] Comparison of key features of new law and current law Detailed explanation of new law [CRR2010.3-8] [CRR2010.3-9] [CRR2010.3-10] [CRR2010.3-11] Companies not required to prepare an audited financial report [CRR2010.3-12] Consequential amendments [CRR2010.3-13] [CRR2010.3-14] [CRR2010.3-15] [CRR2010.3-16] [CRR2010.3-17] [CRR2010.3-18] [CRR2010.4] Chapter 4 Changing reporting periods Context of amendments [CRR2010.4-1] [CRR2010.4-2] [CRR2010.4-3] Summary of new law [CRR2010.4-4] Comparison of key features of new law and current law Detailed explanation of new law [CRR2010.4-5] [CRR2010.4-6] Application and transitional provisions [CRR2010.4-7] [CRR2010.5] Chapter 5 Extending section 299A of the Corporations Act Context of amendments [CRR2010.5-1] [CRR2010.5-2] [CRR2010.5-3] Summary of new law [CRR2010.5-4] Comparison of key features of new law and current law Detailed explanation of new law [CRR2010.5-5] [CRR2010.5-6] [CRR2010.5-7] [CRR2010.6] Chapter 6 IFRS declaration Context of amendments [CRR2010.6-1] [CRR2010.6-2] [CRR2010.6-3] Summary of new law [CRR2010.6-4] Comparison of key features of new law and current law Detailed explanation of new law [CRR2010.6-5] [CRR2010.6-6] [CRR2010.6-7] [CRR2010.7] Chapter 7 Lost capital reductions Context of amendments [CRR2010.7-1] [CRR2010.7-2] Summary of new law [CRR2010.7-3] [CRR2010.7-4] Comparison of key features of new law and current law Detailed explanation of new law [CRR2010.7-5] Application and transitional provisions [CRR2010.7-6] [CRR2010.8] Chapter 8 FRC functions and funding Context of amendments [CRR2010.8-1] [CRR2010.8-2] Summary of new law [CRR2010.8-3] Comparison of key features of new law and current law Detailed explanation of new law [CRR2010.8-4] [CRR2010.9] Chapter 9 CALDB processes Context of amendments [CRR2010.9-1] [CRR2010.9-2] [CRR2010.9-3] [CRR2010.9-4] [CRR2010.9-5] [CRR2010.9-6] [CRR2010.9-7] Summary of new law [CRR2010.9-8] [CRR2010.9-9] [CRR2010.9-10] [CRR2010.9-11] Comparison of key features of new law and current law Detailed explanation of new law Definitions [CRR2010.9-12] Modifying the membership requirements [CRR2010.9-13] [CRR2010.9-14] [CRR2010.9-15] [CRR2010.9-16] Protection and immunity for pre-hearing conferences [CRR2010.9-17] [CRR2010.9-18] [CRR2010.9-19] Application and transitional provisions [CRR2010.9-20] [CRR2010.9-21] Application of membership amendments [CRR2010.9-22] Application of pre-conference amendments [CRR2010.9-23] [CRR2010.9-24] [CRR2010.10] Chapter 10 Regulation Impact Statement Corporations Amendment (Corporate Reporting Reform) Bill 2010 Regulatory Impact Statement Background [CRR2010.10-1] [CRR2010.10-2] Reducing red-tape [CRR2010.10-3] Improving accountability [CRR2010.10-4] Refining the framework [CRR2010.10-5] Identification of options, impact analysis, conclusions and recommendations Impact assessment methodology [CRR2010.10-6] [CRR2010.10-7] [CRR2010.10-8] Rating an individual impact [CRR2010.10-9] [CRR2010.10-10] [CRR2010.10-11] Illustrative rating for the problem of a long-wearing tyre that may fail Option A: Do nothing Option B: Ban on sale of the new tyre Option C: Industry-developed quality control standards Simplifying the reporting and auditing requirements of companies limited by guarantee Problem [CRR2010.10-12] [CRR2010.10-13] [CRR2010.10-14] [CRR2010.10-15] Table 10.1: Size of companies limited by guarantee2 Objective [CRR2010.10-16] Options Option A: Do nothing [CRR2010.10-17] [CRR2010.10-18] [CRR2010.10-19] Option B: Establish a differential reporting and auditing framework and streamline requirements [CRR2010.10-20] [CRR2010.10-21] [CRR2010.10-22] [CRR2010.10-23] [CRR2010.10-24] [CRR2010.10-25] [CRR2010.10-26] [CRR2010.10-27] [CRR2010.10-28] Impact analysis Impact group identification [CRR2010.10-29] Assessment of costs and benefits Option A: Do nothing Option B: Establish a differential reporting and auditing framework and streamline requirements Option C: Exempt all companies limited by guarantee from reporting and auditing requirements Consultation [CRR2010.10-30] [CRR2010.10-31] [CRR2010.10-32] Conclusion and recommended option [CRR2010.10-33] [CRR2010.10-34] [CRR2010.10-35] Parent entity financial statements Problem [CRR2010.10-36] [CRR2010.10-37] [CRR2010.10-38] [CRR2010.10-39] [CRR2010.10-40] Objective [CRR2010.10-41] Options Option A: Do nothing [CRR2010.10-42] Option B: Allow companies to prepare summary financial information in relation to the parent entity [CRR2010.10-43] Option C: Allow companies to not report any financial information in relation to the parent entity [CRR2010.10-44] Impact analysis Impact group identification [CRR2010.10-45] Assessment of costs and benefits Option A: Do nothing Option B: Allow companies to prepare summary financial information in relation to the parent entity Option C: Allow companies to not report any financial information in relation to the parent entity Consultation [CRR2010.10-46] [CRR2010.10-47] Conclusion and recommended option [CRR2010.10-48] [CRR2010.10-49] [CRR2010.10-50] Dividends from profits Problem [CRR2010.10-51] Objective [CRR2010.10-52] Options Option A: Do nothing [CRR2010.10-53] Option B: Broaden the ability of companies to pay dividends ensuring safeguards to protect shareholders and creditors are in place [CRR2010.10-54] Option C: Broaden the ability of companies to pay dividends without ensuring safeguards to protect shareholders and creditors are in place [CRR2010.10-55] Impact analysis Impact group identification [CRR2010.10-56] Assessment of costs and benefits Option A: Do nothing Option B: Broaden the ability of companies to pay dividends ensuring safeguards to protect shareholders and creditors are in place Option C: Broaden the ability of companies to pay dividends without ensuring safeguards to protect shareholders and creditors are in place Consultation [CRR2010.10-57] [CRR2010.10-58] Conclusion and recommended option [CRR2010.10-59] [CRR2010.10-60] [CRR2010.10-61] Changing reporting periods Problem [CRR2010.10-62] [CRR2010.10-63] [CRR2010.10-64] Objective [CRR2010.10-65] Options Option A: Do nothing [CRR2010.10-66] Option B: Allow companies flexibility to change their reporting periods [CRR2010.10-67] Impact analysis Impact group identification Assessment of costs and benefits Option A: Do nothing Option B: Allow companies flexibility to change their reporting periods Consultation [CRR2010.10-68] [CRR2010.10-69] Conclusion and recommended option [CRR2010.10-70] [CRR2010.10-71] Extend the requirement to disclose a review of operations and financial condition to all listed entities Problem [CRR2010.10-72] [CRR2010.10-73] [CRR2010.10-74] [CRR2010.10-75] [CRR2010.10-76] [CRR2010.10-77] Objective [CRR2010.10-78] Options Option A: Do nothing [CRR2010.10-79] Option B: Consistent requirements [CRR2010.10-80] Impact analysis Impact group identification Assessment of costs and benefits Option A: Do nothing Option B: Consistent requirements Consultation [CRR2010.10-81] [CRR2010.10-82] Conclusion and recommended option [CRR2010.10-83] [CRR2010.10-84] Other minor and technical amendments Declaration of IFRS Compliance Problem [CRR2010.10-85] [CRR2010.10-86] [CRR2010.10-87] Conclusion [CRR2010.10-88] Lost capital reductions Problem [CRR2010.10-89] [CRR2010.10-90] Conclusion [CRR2010.10-91] [CRR2010.10-92] improvements to the Financial Reporting Council's functions and funding arrangements Problem [CRR2010.10-93] [CRR2010.10-94] Conclusion and recommended option [CRR2010.10-95] Improvements to the Companies Auditors and Liquidators Disciplinary Board's (CALDB) processes including immunities and appointments Problem [CRR2010.10-96] [CRR2010.10-97] [CRR2010.10-98] [CRR2010.10-99] Conclusion and recommended option [CRR2010.10-100] [CRR2010.10-101] Implementation [CRR2010.10-102] [CRR2010.10-103] [CRR2010.10-104] [CRR2010.10-105] [CRR2010.11] Index Schedule 1: Amendments relating to the Corporations Act 2001 Schedule 2: Australian Securities and Investments Commission Act 2001 CORPORATIONS AMENDMENT (FINANCIAL MARKET SUPERVISION) BILL 2010CORPORATIONS (FEES) AMENDMENT BILL 2010 CORPORATIONS AMENDMENT (FINANCIAL MARKET SUPERVISION) BILL 2010CORPORATIONS (FEES) AMENDMENT BILL 2010 Glossary General outline and financial impact Outline Summary of regulation impact statement Regulation impact on business [FMS2010EM.1] Chapter 1 Amendment of obligations on operators of licensed markets Outline of chapter [FMS2010EM.1.1] Context of amendments [FMS2010EM.1.2] [FMS2010EM.1.3] Summary of new law [FMS2010EM.1.4] [FMS2010EM.1.5] Comparison of key features of new law and current law Detailed explanation of new law [FMS2010EM.1.6] [FMS2010EM.1.7] [FMS2010EM.1.8] [FMS2010EM.1.9] [FMS2010EM.1.10] [FMS2010EM.1.11] Application and transitional provisions [FMS2010EM.1.12] [FMS2010EM.1.13] [FMS2010EM.1.14] Consequential amendments [FMS2010EM.1.15] [FMS2010EM.2] Chapter 2 ASIC supervision and market integrity rules Outline of chapter [FMS2010EM.2.1] Context of amendments [FMS2010EM.2.2] [FMS2010EM.2.3] [FMS2010EM.2.4] Summary of new law [FMS2010EM.2.5] [FMS2010EM.2.6] [FMS2010EM.2.7] Comparison of key features of new law and current law Detailed explanation of new law [FMS2010EM.2.8] ASIC and financial market supervision [FMS2010EM.2.9] [FMS2010EM.2.10] Market integrity rules [FMS2010EM.2.11] [FMS2010EM.2.12] [FMS2010EM.2.13] [FMS2010EM.2.14] [FMS2010EM.2.15] [FMS2010EM.2.16] [FMS2010EM.2.17] [FMS2010EM.2.18] Enforcement of the market integrity rules [FMS2010EM.2.19] [FMS2010EM.2.20] [FMS2010EM.2.21] [FMS2010EM.2.22] [FMS2010EM.2.23] [FMS2010EM.2.24] [FMS2010EM.2.25] Application and transitional provisions [FMS2010EM.2.26] [FMS2010EM.2.27] [FMS2010EM.2.28] Consequential amendments [FMS2010EM.2.29] [FMS2010EM.2.30] [FMS2010EM.2.31] [FMS2010EM.2.32] [FMS2010EM.2.33] Supporting amendments [FMS2010EM.2.34] [FMS2010EM.2.35] [FMS2010EM.2.36] [FMS2010EM.2.37] [FMS2010EM.3] Chapter 3 Regulation impact statement Assessing the Problem Conflict of interest issues [FMS2010EM.3.1] [FMS2010EM.3.2] [FMS2010EM.3.3] [FMS2010EM.3.4] [FMS2010EM.3.5] [FMS2010EM.3.6] [FMS2010EM.3.7] Current arrangements preclude competition between market operators [FMS2010EM.3.8] [FMS2010EM.3.9] [FMS2010EM.3.10] [FMS2010EM.3.11] [FMS2010EM.3.12] Objectives of Government Action [FMS2010EM.3.13] [FMS2010EM.3.14] Options [FMS2010EM.3.15] [FMS2010EM.3.16] [FMS2010EM.3.17] [FMS2010EM.3.18] Option One: Retain the status quo (no regulatory action) [FMS2010EM.3.19] [FMS2010EM.3.20] Option Two: Move to a Government whole-of-market supervisor [FMS2010EM.3.21] [FMS2010EM.3.22] [FMS2010EM.3.23] Impact Analysis Option One: Retain the status quo (no regulatory action) [FMS2010EM.3.24] [FMS2010EM.3.25] [FMS2010EM.3.26] [FMS2010EM.3.27] Option Two: Move to whole-of-market supervision by ASIC [FMS2010EM.3.28] [FMS2010EM.3.29] [FMS2010EM.3.30] [FMS2010EM.3.31] [FMS2010EM.3.32] [FMS2010EM.3.33] [FMS2010EM.3.34] [FMS2010EM.3.35] Consultation [FMS2010EM.3.36] [FMS2010EM.3.37] [FMS2010EM.3.38] [FMS2010EM.3.39] Conclusion and Recommended Option [FMS2010EM.3.40] [FMS2010EM.3.41] [FMS2010EM.3.42] Implementation and Review [FMS2010EM.3.43] Index Schedule 1: Supervision of financial markets