Corporations (Fees) Act 2001

In this Act:

the lodgment of a document under the Corporations Act 2001;

the registration of a document under that Act;

the inspection or search of a register kept by, or a document in the custody of, ASIC under that Act;

the making available by ASIC, under that Act, of information (whether in the form of a document or otherwise);

the production by ASIC, under a subpoena, of such a register or document;

the issuing of a document or of a copy of a document, the granting of a licence, consent or approval, or the doing of any other act, under that Act, by the Minister or ASIC;

the making of an inquiry of, or an application to, the Minister, or ASIC, in relation to a matter arising under that Act;

the submission to ASIC of a document for examination by ASIC;

the making of an application under that Act to the Panel;

the doing of any act by the Panel in dealing with an application under that Act to the Panel;

the performance by ASIC of:

functions conferred on ASIC by the listing rules of a market as required by subsection 798C(4); and

any other functions conferred on ASIC by arrangements entered into under subsection 798C(2); and

functions conferred on ASIC by the operating rules of a market as required by subsection 798DA(2) of the Corporations Act 2001;

the performance by ASIC of functions provided for in regulations as mentioned in paragraph 798E(2)(b) of the Corporations Act 2001;

the lodgment of a document under paragraph 17G(c) of the Insurance Act 1973 or paragraph 195(c) of the Life Insurance Act 1995;

the making of an application to ASIC for an exemption or declaration, or a variation or revocation of an exemption or declaration, under Part 29 of the Superannuation Industry (Supervision) Act 1993;

the making of an application to ASIC for an exemption, or a variation or revocation of an exemption, under subsection 12DY(1) of the Australian Securities and Investments Commission Act 2001.

Subject to this Act, Part 1.2 (Interpretation) of the Corporations Act 2001 applies for the purposes of this Act as if the provisions of this Act were provisions of that Act.

Part 1.2 of the Corporations Act 2001 includes the Dictionary in section 9 of that Act, so the definitions in that section apply for the purposes of this Act unless this Act otherwise provides.

Subject to section 6, the regulations may prescribe fees for chargeable matters.

The fees prescribed by the regulations for chargeable matters are imposed, and are so imposed as taxes.

2 or more fees may be prescribed for the same chargeable matter.

The regulations may prescribe, in relation to a chargeable matter, different fees having regard to whether the matter is complied with by electronic means.

The regulations may prescribe, in relation to a chargeable matter, different fees having regard to whether the matter is of low, medium or high complexity.

The regulations may prescribe, in relation to a chargeable matter, different fees having regard to any matter relating to the person by whom the fee for the matter is payable.

ASIC may, by legislative instrument, make a determination specifying criteria for whether a chargeable matter is of low, medium or high complexity for the purposes of subsection (2).

However, if no such determination is in operation, the fee for a chargeable matter is the fee prescribed by the regulations for the chargeable matter of low complexity.

The regulations may prescribe a fee for a chargeable matter:

by specifying an amount (not exceeding $200,000) as the fee; or

by specifying a method for calculating the amount of the fee.

The limitation in paragraph (a) applies separately to each fee imposed if more than one fee is prescribed for the same chargeable matter (see subsection 5(3)).

The fee for a chargeable matter need not bear any relationship to the cost of providing any service that forms part of, or is related to, that matter.

The fee, or the sum of the fees, for a chargeable matter must not exceed $300,000, except for a chargeable matter referred to in paragraph (k) or (l) of the definition of chargeable matter in subsection 4(1).

The fee, or the total of the fees, for chargeable matters referred to in paragraph (k) of the definition of that term in subsection 4(1) that relate to a particular market licensee must not exceed $300,000 in respect of each period of 12 months during which ASIC performs functions referred to in that paragraph in relation to that market licensee.

The fee, or the total of the fees, for chargeable matters referred to in paragraph (l) of the definition of that term in subsection 4(1) that relate to a particular market licensee and a particular conflict, or potential conflict, of a kind referred to in subsection 798E(1) of the Corporations Act 2001, must not exceed $300,000 in respect of each period of 12 months during which ASIC performs functions referred to in that paragraph in relation to that market licensee and that conflict or potential conflict.

The person by whom a fee for a chargeable matter is payable, and the time at which they incur that liability, are as follows:

for a chargeable matter referred to in paragraph (a) of the definition of chargeable matter in subsection 4(1):

person liable—the person who lodges the document; and

time liability incurred—when the document is lodged;

for a chargeable matter referred to in paragraph (b) of that definition:

person liable—the person who requests registration of the document, or if there is no request, the person who lodges the document that is registered; and

time liability incurred—when the request for registration is made, or if there is no request, when the document is lodged;

for a chargeable matter referred to in paragraph (c) of that definition:

person liable—the person who requests the inspection or search; and

time liability incurred—when the request is made;

for a chargeable matter referred to in paragraph (d) of that definition:

person liable—the person who requests the information; and

time liability incurred—when the request is made;

for a chargeable matter referred to in paragraph (e) of that definition:

person liable—the person who filed the subpoena; and

time liability incurred—when the subpoena is served on ASIC;

for a chargeable matter referred to in paragraph (f) of that definition:

person liable—the person who requests the issue of the document (or copy), the grant of the licence, consent or approval, or the doing of the other act, or, if there is no such request, the person for whose benefit the act is done; and

time liability incurred—when the request is made, or if there is no request, when the act is done;

for a chargeable matter referred to in paragraph (g) of that definition:

person liable—the person who makes the inquiry or application; and

time liability incurred—when the inquiry or application is made;

for a chargeable matter referred to in paragraph (h) of that definition:

person liable—the person who submits the document; and

time liability incurred—when the document is submitted;

for a chargeable matter referred to in paragraph (i) of that definition:

person liable—the person who makes the application; and

time liability incurred—when the application is made;

for a chargeable matter referred to in paragraph (j) of that definition:

person liable—such party or parties to the proceedings before the Panel as the Panel determines (in accordance with subsection (2)) is or are to pay the fee; and

time liability incurred—when the Panel makes that determination;

for a chargeable matter referred to in paragraph (k) of that definition:

person liable—the market licensee affected; and

time liability incurred—the time or times determined in accordance with the regulations;

for a chargeable matter referred to in paragraph (l) of that definition:

person liable—the market licensee affected; and

time liability incurred—the time or times determined in accordance with the regulations;

for a chargeable matter referred to in paragraph (m) of that definition:

person liable—the person who lodges the document; and

time liability incurred—when the document is lodged;

for a chargeable matter referred to in paragraph (n) of that definition:

person liable—the person who makes the application; and

time liability incurred—when the application is made;

for a chargeable matter referred to in paragraph (o) of that definition:

person liable—the person who makes the application; and

time liability incurred—when the application is made.

A determination by the Panel for the purposes of subparagraph (1)(j)(i) must be made in accordance with rules made by the Panel in writing for the purposes of that subparagraph.

Regulations referred to in paragraph 1351(a) of the old Corporations Law of a State or Territory in this jurisdiction that were in force immediately before the commencement of this Act continue to have effect, and may be amended or repealed, as if they were made under section 8 of this Act for the purposes of sections 5 and 6 of this Act.

If, immediately before the commencement of this Act, a fee was payable by a person to the Commonwealth in respect of a matter under section 1351 of the old Corporations Law of a State or Territory in this jurisdiction, a liability to pay the same amount, in respect of the same matter, to the Commonwealth is imposed on the person by this subsection on the commencement of this Act, and is so imposed as a tax.

The definition of chargeable matter in section 9 of the old Corporations Law contains a list of matters that corresponds to the list in the definition of chargeable matter in subsection 4(1) of this Act.