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These Regulations are the Corporations Regulations 2001.
A number of expressions used in these Regulations are defined in the Act, including the following:
financial product;
financial service;
managed investment scheme;
superannuation entity;
trustee.
In these Regulations:
ACH means Australian Clearing House Pty Limited.
Act means the Corporations Act 2001.
agent means a person appointed under subsection 601CG(1) of the Act.
approved foreign bank:
in relation to a participant of a licensed market, means a bank:
established by or under the law of a foreign country; and
in relation to which there is in force an approval given by the market licensee in accordance with its operating rules or by ASIC under the market integrity rules; and
in relation to a financial services licensee other than a participant of a licensed market, means a bank:
regulated by an overseas regulator; and
in relation to which there is in force an approval given by ASIC for the purposes of this definition.
approved form, in relation to a provision of the Act or of these Regulations, means the form that is approved under paragraph 350(1)(b) of the Act for use for that provision.
associated provisions, in relation to provisions (the core provisions) of the relevant old legislation as in force at a particular time, include (but are not limited to):
any regulations or other instruments that are or were in force for the purposes of any of the core provisions at that time; and
any interpretation provisions that apply or applied in relation to any of the core provisions at that time (whether or not they also apply or applied for other purposes); and
any provisions relating to liability (civil or criminal) that apply or applied in relation to any of the core provisions at that time (whether or not they also apply or applied for other purposes); and
any provisions that limit or limited, or that otherwise affect or affected, the operation of any of the core provisions at that time (whether or not they also limit or limited, or affect or affected, the operation of other provisions).
ASTC means ASX Settlement and Transfer Corporation Pty Limited.
ASTC certificate cancellation provisions means the provisions of the ASTC operating rules that deal with:
the cancellation of certificates or other documents of title to Division 4 financial products; and
matters incidental to the cancellation of those certificates or documents.
ASTC‑regulated transfer means a transfer of a Division 4 financial product:
within the meaning of:
Division 4 of Part 7.11 of the Act; and
regulations relating to transfer made for sections 1074A and 1074E of the Act; and
that is effected through ASTC; and
that, according to the ASTC operating rules, is an ASTC‑regulated transfer.
benefit fund has the meaning given by section 16B of the Life Insurance Act 1995.
building society has the same meaning as in section 16 of the RSA Act.
capital guaranteed, for a superannuation product or an RSA, means that the contributions and accumulated earnings may not be reduced by a negative investment return or a reduction in the value of an asset in which the product is invested.
capital guaranteed fund means a public offer superannuation fund, or a sub‑fund of a public offer superannuation fund, that has the following characteristics:
its investments comprise 1 or more of the following only:
deposits with an ADI;
investments in a capital guaranteed superannuation product or RSA;
the contributions and accumulated earnings of its members cannot be reduced by negative investment returns (within the meaning of subregulation 5.01(1) of the SIS Regulations) or by any reduction in the value of its assets.
capital guaranteed member means a member whose interest in a public offer superannuation fund is fully invested in a capital guaranteed fund.
carbon abatement contract has the same meaning as in the Carbon Credits (Carbon Farming Initiative) Act 2011.
cash management trust interest means an interest that:
is an interest in a registered scheme or a notified foreign passport fund; and
relates to an undertaking of the kind commonly known as a cash management trust.
client money reporting infringement notice: see regulation 7.8.05A.
client money reporting infringement notice period: see regulation 7.8.05A.
CPI means the Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Bureau of Statistics.
Division 3 asset means:
shares mentioned in paragraph 1073A(1)(a) of the Act; or
debentures mentioned in paragraph 1073A(1)(b) of the Act; or
interests in a registered scheme mentioned in paragraph 1073A(1)(c) of the Act; or
a CGS depository interest mentioned in paragraph 1073A(1)(da) of the Act; or
securities mentioned in paragraph 1073A(1)(e) of the Act.
Division 3 rights means:
rights mentioned in paragraph 1073A(1)(d) of the Act; and
rights related to securities mentioned in paragraph 1073A(1)(e) of the Act.
Division 3 securities means Division 3 assets and Division 3 rights.
Division 4 financial product has the meaning given by regulation 7.11.03.
enduring power of attorney means an enduring power of attorney that complies with a law of a State or Territory.
Exchange body means:
Australian Stock Exchange Limited; or
a subsidiary of Australian Stock Exchange Limited.
financial business means a business that:
consists of, or includes, the provision of financial services; or
relates wholly or partly to the provision of financial services.
form means an approved form or a prescribed form.
friendly society has the meaning given by section 16C of the Life Insurance Act 1995.
friendly society funeral product: see subregulation 7.6.01(7).
FSR commencement means the commencement of item 1 of Schedule 1 to the Financial Services Reform Act 2001.
funeral services entity: see subregulation 7.6.01(7).
generic MySuper product: a class of beneficial interest in a superannuation entity is a generic MySuper product if:
the superannuation entity is a regulated superannuation fund; and
the RSE licensee of the fund is authorised to offer that class of beneficial interest in the fund as a MySuper product under section 29T of the SIS Act; and
the RSE licensee of the fund is not authorised to offer that class of beneficial interest in the fund as a MySuper product because section 29TA or 29TB of the SIS Act is satisfied in relation to the class.
income stream financial product means an annuity or other facility that is a financial product which provides an income stream, including:
an income stream that is an investment life insurance product; or
an income designated under section 9 of the Social Security Act 1991 or section 5H of the Veterans’ Entitlements Act 1986;
but does not include any of the following:
a financial product under paragraph 764A(1)(ba) of the Act;
anything that is not a financial product under section 765A of the Act;
available money;
deposit money;
a managed investment product;
a foreign passport fund product;
a security;
a loan that has not been repaid in full;
gold, silver or platinum bullion.
In accordance with subsections 761G(6) and (7) of the Act, superannuation products and RSAs are not income stream financial products.
investment‑based financial product means:
a financial product under section 763B of the Act; or
a financial product under paragraph 764A(1)(ba), (bb) or (j) of the Act; or
a financial product under paragraph 764A(1)(m) of the Act that is specified to be an investment‑based financial product; or
a security; or
a managed investment product; or
an investment life insurance product; or
a deposit product; or
a carbon unit;
an Australian carbon credit unit;
an eligible international emissions unit;
but does not include any of the following:
anything that is not a financial product under section 765A of the Act;
an income stream financial product.
In accordance with subsections 761G(6) and (7) of the Act, superannuation products and RSAs are not income stream financial products.
Lloyd’s has the same meaning as in the Insurance Act 1973.
medical indemnity insurance product means an arrangement:
under which medical indemnity cover is provided to:
a medical practitioner as defined in section 4 of the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003; or
a registered health professional prescribed by regulations made under the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 for the purposes of a provision of Part 3 of that Act; and
to which the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 applies.
minor fee, for a standard margin lending facility, means a fee or cost for the facility that:
does not relate to the ordinary acquisition, operation or closure of the facility; and
is less than $10.
NFPFRN: see Notified Foreign Passport Fund Registration Number.
non‑cash payment financial product means a financial product under section 763D of the Act, other than:
a derivative; or
a financial product under paragraph 764A(1)(k) of the Act; or
anything that is not a financial product under section 765A of the Act.
non‑Division 3 securities means financial products to which Division 3 or 4 of Part 7.11 of the Act applies because of a declaration made by ASIC under paragraph 1075A(1)(b) of the Act.
Notified Foreign Passport Fund Registration Number or NFPFRN, for a notified foreign passport fund, is the unique registration code allocated to the fund by the home regulator for the fund.
old Corporations Act means the Corporations Act 2001 as in force immediately before the FSR commencement.
policy committee has the same meaning as in the SIS Act.
pre‑FSR securities means securities defined in subsection 92(3) of the old Corporations Act.
preserved benefits means preserved benefits under:
Subdivision 6.1.2 of the SIS Regulations; or
Subdivision 4.1.2 of the RSA Regulations.
proper ASTC transfer means:
an ASTC‑regulated transfer of a Division 4 financial product effected:
through the prescribed CS facility operated by the ASTC; and
in accordance with the operating rules of the ASTC; and
an ASTC‑regulated transfer that the ASTC, in accordance with its operating rules, determines:
to comply substantially with the applicable provisions of those operating rules; and
to be taken to be, and always to have been, a proper ASTC transfer.
public offer entity has the same meaning as in the SIS Act.
public offer superannuation fund has the same meaning as in the SIS Act.
qualifying gas exchange product means an arrangement for the physical delivery of natural gas or related goods or services, including pipeline capacity.
qualifying gas trading exchange means a facility:
established by the Australian Energy Market Operator Limited (ACN 072 010 327) exercising its functions under subsection 91BRK(1) of the National Gas Law set out in the Schedule to the National Gas (South Australia) Act 2008 (SA); and
through which persons may elect to buy and sell natural gas or related goods or services (including pipeline capacity).
quarter day means 31 March, 30 June, 30 September or 31 December.
recipient:
in relation to an infringement notice given under regulation 7.2A.04, has the meaning given by regulation 7.2A.03; and
in relation to a client money reporting infringement notice, has the meaning given by regulation 7.8.05A; and
in relation to an infringement notice given under regulation 7.5A.104, has the meaning given by regulation 7.5A.103.
registration number means:
for a company—the number allotted to the company under paragraph 118(1)(a) or 601BD(1)(a) of the Act; or
for a registered body—the number allotted to it under section 601CB or 601CE of the Act; or
for an auditor—the number allotted to a person on registration of that person as an auditor.
restricted non‑preserved benefits means restricted non‑preserved benefits under:
Subdivision 6.1.3 of the SIS Regulations; or
Subdivision 4.1.3 of the RSA Regulations.
risk‑based financial product means:
a financial product that is a facility through which, or through the acquisition of which, a person manages financial risk; or
a life risk insurance product;
but does not include any of the following:
a derivative;
anything that is not a financial product under section 765A of the Act.
In accordance with subsections 761G(5) and (7) of the Act, general insurance products are not risk‑based financial products.
RSA Act means the Retirement Savings Accounts Act 1997.
RSA Regulations means the Retirement Savings Accounts Regulations 1997.
settlement documents, in relation to a transaction, means:
if the agreement for the transaction has not been discharged—documents the supply of which in accordance with the agreement is sufficient to discharge the obligations of the seller under the agreement, in so far as the obligations relate to the supply of documents in connection with the transaction; or
if the agreement for the transaction has been discharged, whether by performance or otherwise—documents the supply of which in accordance with the agreement would, if the agreement had not been discharged, be sufficient to discharge the obligations of the seller under the agreement, in so far as the obligations relate to the supply of documents in connection with the transaction.
simple managed investment scheme means a registered scheme (other than a passport fund) which is or was offered because it meets 1 of the following requirements:
the scheme invests at least 80% of its assets in money in an account with a bank on the basis that the money is available for withdrawal:
immediately during the bank’s normal business hours; or
at the end of a fixed‑term period that does not exceed 3 months;
the scheme invests at least 80% of its assets in money on deposit with a bank on the basis that the money is available for withdrawal:
immediately during the bank’s normal business hours; or
at the end of a fixed‑term period that does not exceed 3 months;
the scheme invests at least 80% of its assets under 1 or more arrangements by which the responsible entity of the scheme can reasonably expect to realise the investment, at the market value of the assets, within 10 days.
simple sub‑fund product means a security in a retail CCIV that is, or was, offered because the security is referable to a sub‑fund of the CCIV (other than a passport fund) that meets one of the following requirements:
the CCIV, in respect of the sub‑fund, invests at least 80% of the assets of the sub‑fund in money in an account with a bank on the basis that the money is available for withdrawal:
immediately during the bank’s normal business hours; or
at the end of a fixed‑term period that does not exceed 3 months;
the CCIV, in respect of the sub‑fund, invests at least 80% of the assets of the sub‑fund in money on deposit with a bank on the basis that the money is available for withdrawal:
immediately during the bank’s normal business hours; or
at the end of a fixed‑term period that does not exceed 3 months;
the CCIV, in respect of the sub‑fund, invests at least 80% of the assets of the sub‑fund under one or more arrangements by which the corporate director of the CCIV can reasonably expect to realise the investment, at the market value of the assets, within 10 days.
SIS Act means the Superannuation Industry (Supervision) Act 1993.
SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994.
sub‑plan, in relation to a regulated superannuation fund, means a segment of the fund comprising a member or members of the fund, being a sub‑plan that the trustee determines should be made.
successor fund has the same meaning as in the SIS Regulations.
superannuation interest has the same meaning as in the SIS Act.
superannuation lump sum has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997.
superannuation scheme means a complying superannuation fund within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997.
superannuation‑sourced money means money in relation to which:
the provider of a financial service knows that the money:
will be paid to a person as a superannuation lump sum by the trustee of a regulated superannuation fund; or
has been paid as an eligible termination payment (within the meaning of these Regulations as in force immediately before 1 July 2007) or as a superannuation lump sum at any time during the previous 6 months; or
the provider of the financial service ought reasonably to know that fact.
unauthorised foreign insurer has the same meaning as in the Insurance Regulations 2024.
unrestricted non‑preserved benefits means unrestricted non‑preserved benefits under:
Subdivision 6.1.4 of the SIS Regulations; or
Subdivision 4.1.4 of the RSA Regulations.
warrant means:
a derivative that is transferable; or
a financial product that is transferable and that would, apart from the effect of paragraph 761D(3)(c) of the Act, be a derivative, and is excluded by that paragraph only because it is:
a security mentioned in paragraph 92(5)(c) of the Act; or
a legal or equitable right or interest mentioned in subparagraph 764A(1)(b)(ii) of the Act; or
a legal or equitable right or interest mentioned in subparagraph 764A(1)(ba)(ii) of the Act; or
a legal or equitable right or interest mentioned in subparagraph 764A(1)(bb)(ii) of the Act.
In these Regulations, a reference to a form by number is a reference to the form so numbered in Schedule 2.
This regulation is made for the purposes of subparagraph (d)(ii) of the definition of basic deposit product in section 9 of the Act.
The prior notice requirement for an ADI included in the class of ADIs specified in subregulation (3) is a period of not more than 7 days before a withdrawal or transfer of funds from a facility made available by the ADI.
The class of ADIs is ADIs entitled under the Banking Act 1959 to use any of the following expressions in relation to their financial business:
credit union;
credit society;
credit co‑operative;
building society.
For the purposes of the definition of prescribed CS facility in section 9 of the Act, ASX Settlement and Transfer Corporation Pty Limited (also known as ‘ASTC’) is prescribed.
For the purposes of paragraphs 45A(2)(a) and (3)(a) of the Act, the amount of $50 million is prescribed.
For the purposes of paragraphs 45A(2)(b) and (3)(b) of the Act, the amount of $25 million is prescribed.
For the purposes of paragraphs 45A(2)(c) and (3)(c) of the Act, the number 100 is prescribed.
A form in Schedule 2 mentioned in an item in column 4 of Schedule 1 is prescribed for the provision of the Act, or of these Regulations, that is specified in the item in column 2.
Under section 350 of the Act, a document that the Act requires to be lodged with ASIC in a prescribed form must:
if a form for the document is prescribed in these Regulations, be in that prescribed form; and
if a form for the document is not prescribed in these Regulations but ASIC has approved a form for the document, be in that approved form.
In a form, unless the contrary intention appears, a reference to a Chapter, Part, Division, section, subsection, paragraph or subparagraph is a reference to that Chapter, Part, Division, section, subsection, paragraph or subparagraph of the Act.
Documents lodged under the Act
A document mentioned in the table under a provision of the Act mentioned in the table must be in the prescribed form.
Item | Document | Provision of the Act |
1 | Notice of appointment to administer a compromise or arrangement | Subsection 415(1) |
2 | Notice that an order for the appointment of a receiver of property has been obtained or of the appointment of a receiver | Paragraph 427(1)(a) |
3 | Notice of the appointment of a person to enter into possession or take control of the property of a corporation | Paragraph 427(1A)(a) |
4 | Notice of entering into possession or taking control | Paragraph 427(1B)(a) |
5 | Notice that the person has ceased to be a controller | Paragraph 427(4)(a) |
6 | Written notice stating that a company is taken to have passed a resolution to wind up the company | Paragraph 446A(5)(a) |
7 | Notice of the appointment of an administrator | Paragraph 450A(1)(a) |
8 | Notice of failure to execute deed of company arrangement | Paragraph 450C(a) |
9 | Notice of termination of deed of company arrangement | Paragraph 450D(a) |
10 | Notice of filing of application to wind up a company | Paragraph 470(1)(a) |
11 | Notice of making of order to wind up a company | Paragraph 470(1)(b) |
12 | Notice of withdrawal or dismissal of application to wind up a company | Paragraph 470(1)(c) |
15 | Written notice disclaiming property | Subsection 568A(1) |
20 | A copy of the whole or a specified part of the register of members of a notified foreign passport fund | Subsection 1213P(4) |
Documents lodged under the Passport Rules
If the Passport Rules for this jurisdiction contain a requirement to lodge a document with ASIC (however the lodgement is described), the document must be lodged with ASIC in the prescribed form.
The requirement in the Passport Rules need not use the word “lodge”. For example, if the Passport Rules contain a requirement to notify ASIC of a matter or to provide a document to ASIC, this subregulation requires the notification or document to be in the prescribed form.
Under section 350 of the Act, a document that the Act requires to be lodged with ASIC in a prescribed form must:
if a form for the document is prescribed in these Regulations—be in that prescribed form; and
if a form for the document is not prescribed in these Regulations but ASIC has approved a form for the document—be in that approved form.
A document mentioned in an item in the table for a provision mentioned in the item must be lodged:
with ASIC; and
if the document is mentioned for subsection 430(1) of the Act—by a controller, within 7 days of the controller receiving a report under that subsection.
Item | Document | Provision of the Act |
1 | Statement in writing in the prescribed form verifying a report about the affairs of a company | Subsection 430(1) or 475(1) or (2) |
2 | Report about the affairs of a company | Subsection 430(1) |
Under section 350 of the Act, a document that the Act requires to be lodged with ASIC in a prescribed form must:
if a form for the document is prescribed in these Regulations, be in that prescribed form; and
if a form for the document is not prescribed in these Regulations but ASIC has approved a form for the document, be in that approved form.
On 23 December 2004, forms for the documents mentioned in item 1 of the table are not prescribed in these Regulations.
A document mentioned in the table under a provision of the Act mentioned in the table must be in a form approved by ASIC (if a form has been approved).
Item | Document | Provision of the Act |
3 | Notice of termination of deed of company arrangement | Paragraph 450D(b) |
The documents mentioned in the table are not required to be lodged with ASIC under the Act, and are not documents to which section 350 of the Act applies.
A form must be completed in accordance with the directions and instructions specified in the form.
If a form requires:
the lodging of a document; or
the giving of information:
by completing the form in the prescribed manner; or
by supplying or completing another document;
the document or information is taken to be the document or information required for the provision of the Act or of these Regulations for which the form is approved under paragraph 350(1)(b) of the Act or included in Schedule 2.
If the Act requires particulars to be provided by the giving of information in a form, the particulars included in the form are taken to be the particulars required:
if the form is an approved form—for the provision of the Act for which the form is approved under paragraph 350(1)(b) of the Act; and
if the form is a prescribed form—for the provision of the Act for which the form is included in Schedule 2.
In this regulation:
annexure includes a document that is with a form.
An annexure to a form must:
have an identifying mark; and
be endorsed with the words:
‘This is the annexure of (insert the number of pages) pages marked (insert an identifying mark) mentioned in the (insert a description of the form) signed by (insert ‘me’ or ‘us’) and dated (insert the date of signing)’; and
be signed by each person signing the form to which the document is annexed.
The pages in an annexure must be numbered consecutively.
If a form has a document annexed, the following particulars of the annexure must be written on the form:
the identifying mark; and
the number of pages.