Corporations Amendment (Proprietary Company Thresholds) Regulations 2019

I, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 04 April 2019

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Josh Frydenberg

Treasurer

Contents

1 Name

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

Corporations Regulations 2001

1  Name

  This instrument is the Corporations Amendment (Proprietary Company Thresholds) Regulations 2019.

2  Commencement

 (1) Each provision of this instrument 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.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the Corporations Act 2001.

4  Schedules

  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

Corporations Regulations 2001

1  After regulation 1.0.02A

Insert:

1.0.02B  Proprietary company thresholds (Act s 45A)

 (1) For the purposes of paragraphs 45A(2)(a) and (3)(a) of the Act, the amount of $50 million is prescribed.

 (2) For the purposes of paragraphs 45A(2)(b) and (3)(b) of the Act, the amount of $25 million is prescribed.

 (3) For the purposes of paragraphs 45A(2)(c) and (3)(c) of the Act, the number 100 is prescribed.

2  In the appropriate position in Chapter 10

Insert:

Part 10.30—Application provisions relating to the Corporations Amendment (Proprietary Company Thresholds) Regulations 2019

10.30.01  Application of amendments—changes to proprietary company thresholds

  Regulation 1.0.02B, as inserted by Schedule 1 to the Corporations Amendment (Proprietary Company Thresholds) Regulations 2019, applies in relation to the 2019‑20 financial year and later financial years.