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This is a Bill, not an Act. For current law, see the Acts databases.
1998-1999-2000-2001
The
Parliament of the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Corporations
(Fees) Bill 2001
No. ,
2001
(Treasury)
A Bill
for an Act to impose, as taxes, fees for things done under the Corporations
Act 2001, and for related matters
ISBN:
0642 458006
Contents
A Bill for an Act to impose, as taxes, fees for things
done under the Corporations Act 2001, and for related
matters
The Parliament of Australia enacts:
This Act may be cited as the Corporations (Fees) Act
2001.
This Act commences at the same time as the Corporations Act
2001.
If the Crown, in a capacity, is bound by the provision or provisions of
the Corporations Act 2001 under which a chargeable matter arises or to
which a chargeable matter relates, then the Crown, in that capacity, is bound by
this Act in respect of that chargeable matter.
(1) In this Act:
chargeable matter means any of the following:
(a) the lodgment of a document under the Corporations Act
2001;
(b) the registration of a document under that Act;
(c) the inspection or search of a register kept by, or a document in the
custody of, ASIC under that Act;
(d) the making available by ASIC, under that Act, of information (whether
in the form of a document or otherwise);
(e) the production by ASIC, under a subpoena, of such a register or
document;
(f) the issuing of a document or of a copy of a document, the granting of
a licence, consent or approval, or the doing of any other act, under that Act,
by the Minister or ASIC;
(g) the making of an inquiry of, or an application to, the Minister, or
ASIC, in relation to a matter arising under that Act;
(h) the submission to ASIC of a document for examination by
ASIC;
(i) the making of an application under that Act to the Panel;
(j) the doing of any act by the Panel in dealing with an application under
that Act to the Panel.
old Corporations Law, in relation to a State or Territory,
has the same meaning as it has in Part 10.1 of the Corporations Act
2001.
(2) Other expressions used in this Act that are defined in the
Corporations Act 2001 have the same meanings as they have in that
Act.
(1) Subject to section 6, the regulations may prescribe fees for
chargeable matters.
(2) The fees prescribed by the regulations for chargeable matters are
imposed, and are so imposed as taxes.
(3) 2 or more fees may be prescribed for the same chargeable
matter.
(1) The regulations may prescribe a fee for a chargeable matter:
(a) by specifying an amount (not exceeding $5,000) as the fee;
or
(b) by specifying a method for calculating the amount of the
fee.
Note: The limitation in paragraph (a) applies
separately to each fee imposed if more than one fee is prescribed for the same
chargeable matter (see subsection 5(3)).
(2) The fee for a chargeable matter need not bear any relationship to the
cost of providing any service that forms part of, or is related to, that
matter.
(3) The fee, or the sum of the fees, for a chargeable matter must not
exceed $25,000.
(1) The person by whom a fee for a chargeable matter is payable, and the
time at which they incur that liability, are as follows:
(a) for a chargeable matter referred to in paragraph (a) of the
definition of chargeable matter in subsection 4(1):
(i) person liable—the person who lodges the document; and
(ii) time liability incurred—when the document is lodged;
(b) for a chargeable matter referred to in paragraph (b) of that
definition:
(i) person liable—the person who requests registration of the
document, or if there is no request, the person who lodges the document that is
registered; and
(ii) time liability incurred—when the request for registration is
made, or if there is no request, when the document is lodged;
(c) for a chargeable matter referred to in paragraph (c) of that
definition:
(i) person liable—the person who requests the inspection or search;
and
(ii) time liability incurred—when the request is made;
(d) for a chargeable matter referred to in paragraph (d) of that
definition:
(i) person liable—the person who requests the information;
and
(ii) time liability incurred—when the request is made;
(e) for a chargeable matter referred to in paragraph (e) of that
definition:
(i) person liable—the person who filed the subpoena; and
(ii) time liability incurred—when the subpoena is served on
ASIC;
(f) for a chargeable matter referred to in paragraph (f) of that
definition:
(i) person liable—the person who requests the issue of the document
(or copy), the grant of the licence, consent or approval, or the doing of the
other act, or, if there is no such request, the person for whose benefit the act
is done; and
(ii) time liability incurred—when the request is made, or if there
is no request, when the act is done;
(g) for a chargeable matter referred to in paragraph (g) of that
definition:
(i) person liable—the person who makes the inquiry or application;
and
(ii) time liability incurred—when the inquiry or application is
made;
(h) for a chargeable matter referred to in paragraph (h) of that
definition:
(i) person liable—the person who submits the document; and
(ii) time liability incurred—when the document is
submitted;
(i) for a chargeable matter referred to in paragraph (i) of that
definition:
(i) person liable—the person who makes the application;
and
(ii) time liability incurred—when the application is made;
(j) for a chargeable matter referred to in paragraph (j) of that
definition:
(i) person liable—such party or parties to the proceedings before
the Panel as the Panel determines (in accordance with subsection (2)) is or
are to pay the fee; and
(ii) time liability incurred—when the Panel makes that
determination.
(2) A determination by the Panel for the purposes of
subparagraph (1)(j)(i) must be made in accordance with rules made by the
Panel in writing for the purposes of that subparagraph.
The Governor-General may make regulations for the purposes of
sections 5 and 6.
(1) Regulations referred to in paragraph 1351(a) of the old Corporations
Law of a State or Territory in this jurisdiction that were in force immediately
before the commencement of this Act continue to have effect, and may be amended
or repealed, as if they were made under section 8 of this Act for the
purposes of sections 5 and 6 of this Act.
(2) If, immediately before the commencement of this Act, a fee was payable
by a person to the Commonwealth in respect of a matter under section 1351
of the old Corporations Law of a State or Territory in this jurisdiction, a
liability to pay the same amount, in respect of the same matter, to the
Commonwealth is imposed on the person by this subsection on the commencement of
this Act, and is so imposed as a tax.
Note: The definition of chargeable matter
in section 9 of the old Corporations Law contains a list of
matters that corresponds to the list in the definition of chargeable
matter in subsection 4(1) of this Act.