Corporations (Fees) Amendment Act 2010

No. 27, 2010

An Act to amend the Corporations (Fees) Act 2001, and for related purposes

[Assented to 25 March 2010]

The Parliament of Australia enacts:

This Act may be cited as the Corporations (Fees) Amendment Act 2010.

(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provision(s)	Commencement	Date/Details
1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table	The day this Act receives the Royal Assent.	25 March 2010
2. Schedule 1	At the same time as Schedule 1 to the Corporations Amendment (Financial Market Supervision) Act 2010 commences.	1 August 2010

Note: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.

(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments

Corporations (Fees) Act 2001

1 Subsection 4(1) (at the end of the definition of chargeable matter)

Add:

; (m) the performance by ASIC of its functions under Part 7.2A (Supervision of financial markets) of the Corporations Act 2001.

2 Subsection 5(1)

Omit “section 6”, substitute “sections 6 and 6A”.

3 At the end of section 6

Add:

(6) This section does not apply in relation to a chargeable matter referred to in paragraph (m) of the definition of chargeable matter in subsection 4(1).

4 After section 6

Insert:

6A Matters relating to amount of fees for market supervision

(1) The regulations may prescribe a fee for a chargeable matter referred to in paragraph (m) of the definition of chargeable matter in subsection 4(1):

(a) by specifying an amount as the fee; or

(b) by specifying a method for calculating the amount of the fee.

(2) The fee prescribed under subsection (1) need not bear any relationship to the cost of providing any service that forms part of, or is related to, the chargeable matter.

5 At the end of subsection 7(1)

Add:

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

(i) person liable—the operator of a licensed market; and

(ii) time liability incurred—the time or times determined in accordance with the regulations.

6 Section 8

Omit “and 6”, substitute “, 6 and 6A”.

[Minister’s second reading speech made in—

House of Representatives on 10 February 2010

Senate on 24 February 2010]

(33/10)