Corporations Point-in-Time Service Updates

Monday 10 July 2017 @ 2.25 p.m.

The Corporations Point-in-Time Service has been updated to include the latest amendments in the following Acts and Regulations:

  • Treasury Laws Amendment (2017 Measures No. 2) Act 2017 (Act 55 of 2017);

  • Foreign Acquisitions and Takeovers Fees Imposition Amendment (Fee Streamlining and Other Measures) Act 2017 (Act 69 of 2017);

  • Treasury Laws Amendment (2017 Measures No. 3) Act 2017 (Act 75 of 2017);

  • ASIC Supervisory Cost Recovery Levy (Consequential Amendments) Regulations 2017;

  • Corporations Amendment (Crowd-sourced Funding) Regulations 2017; and

  • Foreign Acquisitions and Takeovers Fees Imposition Amendment (Fee Streamlining) Regulations 2017.

Act 55 of 2017

The amendments in Schedule 1 make changes to measures enacted through the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 to support the integrity of the measures and ensure the law operates as intended. The amendments relate to the following measures that were included in that Act:

  • the transfer balance cap;
  • changes to the concessional contribution rules;
  • changes to the non-concessional contribution rules;
  • objective of superannuation;
  • changes to the transition to retirement income stream rules;
  • capital gains tax relief for superannuation funds; and
  • streamlining of administrative processes.

Act 69 of 2017

Acknowledging the important role foreign investment plays in growing the economy, fees for business investment will be streamlined from 1 July 2017. The streamlining will simplify the fee framework, minimise the regulatory burden on stakeholders, and allow Australia's foreign investment framework to operate more efficiently. The fee rules will now be clearer and provide a more transparent and consistent approach.

Act 75 of 2017

This Act amends the Australian Securities and Investments Commission Act 2001 and the Corporations Act 2001 in order to validate certain agreements to employ or engage Australian Securities and Investments Commission (ASIC) staff that were purportedly made before the end of 9 March 2017.

ASIC Regulation

These Regulations complement the ASIC Supervisory Cost Recovery Levy Regulations 2017 by making consequential amendments to the Corporations (Fees) Regulations 2001.

Corporations Regulation

These regulations amend the Corporations Regulations 2001 to prescribe the class of securities that may be offered, the minimum content of offer documents, the content requirements of risk warnings, the checks intermediaries must undertake and when conduct will not constitute providing financial product advice.

Foreigns Acquisitions Regulation

This regulation amends the Foreign Acquisitions and Takeovers (Fees Imposition) Regulation 2015 to streamline the fees applying to foreign investors in Australian property.

The amendments made by Acts 55, 69 and 75 of 2017 and the Regulations have been updated in the Point-in-Time Corporations Service current to 4 July 2017. (NB: Subscription required).

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