Corporations Point-in-Time Service Updates

The Corporations Point-in-Time Service has been updated to include the National Consumer Credit Protection Amendment (Small Business Exemption) Regulations 2021 (Cth) and the Australian Securities and Investments Commission Amendment (Delegation) Regulations 2021 (Cth).

National Consumer Credit Protection Amendment (Small Business Exemption) Regulations 2021

This instrument amends the National Consumer Credit Protection Regulations 2010 to align the end of the small business exemption with the removal of responsible lending obligations by the National Consumer Credit Protection Amendment (Supporting Economic Recovery) Act 2021 ("the Amending Act").

This prevents the responsible lending obligations from being reimposed on a portion of credit activity (that has a partial small business purpose) for the period between the expiry date set by the National Consumer Credit Protection Amendment (Responsible Lending Obligations) Regulations 2020 and the commencement of the relevant parts of the Amending Act.

Australian Securities and Investments Commission Amendment (Delegation) Regulations 2021

These regulations amend the Australian Securities and Investments Commission Regulations 2001 to permit the Australian Securities and Investments Commission to delegate certain registry functions to the Registrars appointed under the Commonwealth Registers Act 2020, the Corporations Act 2001, and the National Consumer Credit Protection Act 2009.

These amendments have been updated in the Point-in-Time Corporations Service current to 13 April 2021. (NB: subscription required).

If you are not already a subscriber to this or other Point-in-Time Services then please contact us to find out more or to take a free trial.