Download corporations amendment regulations (no

CORPORATIONS (FEES) AMENDMENT REGULATIONS (NO. ) 2004 NO.
EXPLANATORY MEMORANDUM
Statutory Rules 2004 No. X
Issued by the Parliamentary Secretary to the Treasurer
Corporations (Fees) Act 2001
Corporations (Fees) Amendment Regulations 2004 (No.X)
Section 8 of the Corporations (Fees) Act 2001 provides that the Governor-General may make
regulations for the purposes of sections 5 and 6 of that Act.
The Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act
2004 will commence on 1 July 2004. The Act provides for regulations to be made under the
Corporations Act 2001, Corporations (Fees) Act 2001 and the Australian Securities and
Investments Commission Act 2001.
These Regulations include amendments relating to:
•
registered company auditors; and
•
authorised audit companies.
Details of the Regulations are set out in the Attachment. All Regulations commence on 1 July
2004.
ATTACHMENT
Proposed Regulation 1 provides that the name of the proposed Regulations is the Corporations
(Fees) Amendment Regulations 2004 (No. ).
Proposed Regulation 2 provides that these regulations commence on 1 July 2004.
Proposed Regulation 3 provides that Schedule 1 of the proposed Regulations will amend the
Corporations (Fees) Regulations 2001 (the Principal Regulations).
SCHEDULE 1
Item 1
Application for registration as an auditor or liquidator
Item 3 in Schedule 1 of the Principal Regulations prescribes the fees payable on an application
for registration as a company auditor or liquidator.
The proposed amendment will see the replacement of the existing item 3 in Schedule 1 and the
insertion of a new item 3A.
The only difference between the existing item 3 and its proposed replacement is the insertion of
a fee of $150 for the electronic lodgement of an application for registration as a company
auditor. The existing fee of $330 will be retained for applications that are not lodged
electronically. All other fees in item 3 reflect fees specified in the current Schedule 1, item 3.
Proposed item 3A will prescribe the fees for lodgement of an annual statement by a company
auditor under section 1287A of the Corporations Act 2001. A fee of $65 will be prescribed for
the electronic lodgement of a statement, while a fee of $135 will be prescribed for statements
that are not lodged electronically.
Item 2
Application for registration as an Authorised Audit Company
Item 51 provides for fees in respect of the lodgement with the Australian Securities and
Investments Commission (ASIC) of an application for registration as an authorised audit
company under s.1299A of the Corporations Act. A differential fee structure has been adopted
depending on whether the application is made in electronic form or in any other form.
Lodgement of annual statement by an Authorised Audit Company
Item 52 provides for fees in respect of the lodgement with ASIC of an annual statement by an
authorised audit company under s.1299G of the Corporations Act. A differential fee structure
has been adopted depending on whether the application is made in electronic form or in any
other form.