Corporations (Fees) Amendment Regulations 2011 (No. 1)

Link to law: https://www.comlaw.gov.au/Details/F2011L01369

Corporations (Fees) Amendment Regulations 2011 (No. 1)1
Select Legislative Instrument 2011 No. 129
I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Corporations (Fees) Act 2001.
Dated 30 June 2011
QUENTIN BRYCE
Governor-General
By Her Excellency’s Command
BILL SHORTEN
Minister for Financial Services and Superannuation
1              Name of Regulations
                These Regulations are the Corporations (Fees) Amendment Regulations 2011 (No. 1).
2              Commencement
                These Regulations commence on 1 July 2011.
3              Application
                The amendments made by items [9] and [12] of Schedule 1 do not apply in relation to the billing period starting on 1 April 2011.
Note   Liability for fees in relation to that billing period is incurred on 1 July 2011.
4              Amendment of Corporations (Fees) Regulations 2001
                Schedule 1 amends the Corporations (Fees) Regulations 2001.
Schedule 1        Amendments
(regulation 4)
 
[1]           Paragraph 8 (1) (a)
substitute
                (a)    it is not:
                          (i)    the financial market operated by Australian Securities Exchange Limited; or
                         (ii)    the financial market operated by ASX Limited; or
                        (iii)    the financial market operated by Chi-X Australia Pty Ltd; or
                        (iv)    an exempt market;
[2]           Paragraph 8 (2) (b)
omit
Corporations Act 2001).
insert
Corporations Act).
[3]           Subregulation 8 (4)
omit
of the billing period following
insert
after
[4]           Paragraph 8 (5) (a)
substitute
                (a)    it is not:
                          (i)    a small financial market; or
                         (ii)    the financial market operated by Australian Securities Exchange Limited; or
                        (iii)    the financial market operated by ASX Limited; or
                        (iv)    the financial market operated by Chi-X Australia Pty Ltd; or
                         (v)    an exempt market;
[5]           Paragraph 8 (6) (b)
omit
Corporations Act 2001).
insert
Corporations Act).
[6]           Subregulation 8 (8)
omit
of the billing period following
insert
after
[7]           Subregulation 8 (9), heading
substitute
ASX 24
[8]           Subregulation 8 (9)
omit
Sydney Futures Exchange Limited
insert
Australian Securities Exchange Limited
[9]           Paragraph 8 (9) (a)
omit
$138 750;
insert
$217 000;
[10]         Paragraph 8 (9) (b)
omit
Corporations Act 2001).
insert
Corporations Act).
[11]         Subregulation 8 (11)
omit
of the billing period following
insert
after
[12]         Paragraph 8 (12) (a)
omit
$786 250;
insert
$860 000;
[13]         Paragraph 8 (12) (b)
omit
Corporations Act 2001).
insert
Corporations Act).
[14]         Subregulation 8 (14)
omit
of the billing period following
insert
after
[15]         After subregulation 8 (14)
insert
Chi-X Australia
    (14A)   For subsection 6A (1) of the Act, if ASIC performs its functions under Part 7.2A (Supervision of financial markets) of the Corporations Act in relation to the financial market operated by Chi-X Australia Pty Ltd during a billing period:
                (a)    the fee for the initial billing period is worked out by:
                          (i)    multiplying $46 000 by the number of days in the period starting on the day on which ASIC first performs its functions and ending at the end of the billing period; and
                         (ii)    dividing the result by 92; and
                        (iii)    rounding the result down to the nearest whole dollar; and
               (b)    the fee for a subsequent billing period is $46 000; and
                (c)    the fee is not imposed again if ASIC performs its functions during the billing period in relation to another market operated under the same Australian market licence (within the meaning of section 761A of the Corporations Act).
    (14B)   For subparagraph 7 (1) (m) (ii) of the Act, the time at which liability for the fee is incurred is the first day after the billing period in which ASIC performs its functions.
[16]         Subregulation 8 (15), after definition of first billing period
insert
initial billing period, in relation to a financial market, means the billing period during which the market began operating.
Note
1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.
 
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