Treasury Laws Amendment (Time‑Limiting Exemptions) Regulations 2025
I, the Honourable Sam Mostyn AC, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.
Dated 6 March 2025
Sam Mostyn AC
Governor‑General
By Her Excellency’s Command
Stephen Jones
Assistant Treasurer
Minister for Financial Services
1 Name
2 Commencement
3 Authority
4 Schedules
Schedule 1—Amendments
Part 1—Partial sunsetting of the Financial Sector Reform (Hayne Royal Commission Response) (Hawking of Financial Products) Regulations 2021
Corporations Regulations 2001
Part 2—Partial sunsetting of the Corporations Amendment (Litigation Funding) Regulations 2022
Corporations Regulations 2001
Part 3—Partial sunsetting of the Treasury Laws Amendment (Rationalising ASIC Instruments) Regulations 2022
Corporations Regulations 2001
National Consumer Credit Protection Regulations 2010
Part 4—Partial sunsetting of the Corporations Amendment (Design and Distribution Obligations—Income Management Regimes) Regulations 2023
Corporations Regulations 2001
Part 5—Application provisions
Corporations Regulations 2001
This instrument is the Treasury Laws Amendment (Time‑Limiting Exemptions) Regulations 2025.
(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.
Commencement information | ||
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of this instrument | The day after this instrument is registered. | 12 March 2025 |
Note: This table relates only to the provisions of this instrument as originally made.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.
This instrument is made under the following:
(a) the Corporations Act 2001;
(b) the National Consumer Credit Protection Act 2009.
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
1 Regulation 7.8.21A
Before “For”, insert “(1)”.
2 At the end of regulation 7.8.21A
Add:
(2) This regulation is repealed on 31 December 2027.
3 At the end of regulation 5C.11.01
Add:
Sunset of subregulation (2A)
(7) Subregulation (2A) is repealed on 1 December 2032.
4 At the end of regulation 7.6.01
Add:
Partial sunset of this regulation
(8) The following are repealed on 1 January 2033:
(a) paragraphs (1)(db), (za) and (zb);
(b) the following definitions in subregulation (7):
(i) financial capability service;
(ii) financial capability service provider;
(iii) financial counselling agency;
(iv) financial counselling association;
(v) financial counselling service;
(vi) small business.
5 At the end of regulation 20
Add:
Sunset of subregulations (5) and (5A)
(14) Subregulations (5) and (5A) are repealed on 1 January 2033.
6 At the end of regulation 7.8A.20
Add:
Sunset of subregulation (10)
(11) Subregulation (10) is repealed on 1 April 2033.
7 In the appropriate position in Chapter 10
Insert:
The amendment made by item 3 of Schedule 1 to the Treasury Laws Amendment (Time‑Limiting Exemptions) Regulations 2025 applies in relation to a litigation funding scheme mentioned in regulation 5C.11.01 entered into on or after 1 December 2032.
The amendment made by item 6 of Schedule 1 to the Treasury Laws Amendment (Time‑Limiting Exemptions) Regulations 2025 applies in relation to a financial product issued or offered for regulated sale on or after 1 April 2033.