Corporations Point-in-Time Service Updates

The Corporations Point-in-Time Service has been updated to include the Treasury Laws Amendment (Cost of Living Support and Other Measures) Act 2022 (Cth) (Act 14 of 2022), the Foreign Acquisitions and Takeovers Amendment Regulations 2022 (Cth), the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022 (Cth), the Corporations (Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022 (Cth), and the Corporations and Other Legislation Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022 (Cth).

Act 14 of 2022

Schedule 4 to the Act amends the Corporations Act 2011 to make it easier for businesses to create employee share schemes. This Schedule provides regulatory relief to employee share schemes which meet particular requirements.

Foreign Acquisitions and Takeovers Amendment Regulations 2022

The Regulations amends to Foreign Acquisitions and Takeovers Regulation 2015 to support the improved administration of Australia’s foreign investment review framework by clarifying certain aspects within the Principal Regulation and streamlining the processing of less sensitive types of investment.

Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

This instrument amends the Corporations (Review Fees) Regulations 2003 to prescribe the fees payable for review of a corporate collective investment vehicle's registration.    

Corporations (Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

This instrument amends the Corporations (Fees) Regulations 2001 to ensure that existing fees apply appropriately to corporate collective investment vehicles and to prescribe new fees for chargeable matters under Chapter 8B of the Corporations Act 2001.    

Corporations and Other Legislation Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

These Regulations amends the Australian Securities and Investments Commission Regulations 2001, the Corporations Regulations 2001, and the Personal Property Securities Regulations 2010 to facilitate the implementation of the Corporate Collective Investment Vehicle regime.

The Regulations put in place arrangements in relation to the following key areas:

• Requirements for financial reporting and record keeping.
• Arrangements for voting in the context of cross-investment.
• Requirements for custody of CCIV assets, including where assets are held in an offshore jurisdiction or held in an omnibus account.
• Restrictions on cross-investment and consideration of other rules regarding the management of a CCIV’s share capital.

The Regulations also include various consequential amendments to Chapter 7 of the Corporations Regulations 2001 to ensure that the short-form PDS regime that is currently available for ‘simple managed investment schemes’ is also available to and works appropriately for CCIVs in comparable circumstances.

These amendments have been updated in the Point-in-Time Corporations Service current to 25 April 2022. (NB: subscription required).

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