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This is a Bill, not an Act. For current law, see the Acts databases.
2022
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Treasury Laws Amendment (2022
Measures No. 1) Bill 2022
No. , 2022
(Treasury)
A Bill for an Act to amend the law relating to
taxation and superannuation, to make
miscellaneous and technical amendments of the
statute law of the Commonwealth, and for related
purposes
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 2
3
Schedules ........................................................................................... 3
Schedule 1--Recovery grants for Cyclone Seroja
4
Income Tax Assessment Act 1997
4
Schedule 2--Transitional provisions relating to the repeal of
the Superannuation (Resolution of Complaints)
Act 1993
5
Treasury Laws Amendment (Putting Consumers First--Establishment
of the Australian Financial Complaints Authority) Act 2018
5
Schedule 3--Income tax and withholding exemptions for the
FIFA Women's World Cup
7
Income Tax Assessment Act 1936
7
Income Tax Assessment Act 1997
7
Schedule 4--Minor and technical amendments
9
Part 1--Commencement of registries modernisation
amendments
9
Business Names Registration (Fees) Amendment (Registries
Modernisation) Act 2020
9
Corporations (Fees) Amendment (Registries Modernisation) Act 2020
9
Financial Sector Reform (Hayne Royal Commission Response--Better
Advice) Act 2021
9
National Consumer Credit Protection (Fees) Amendment (Registries
Modernisation) Act 2020
10
Treasury Laws Amendment (2021 Measures No. 1) Act 2021
10
Treasury Laws Amendment (Registries Modernisation and Other
Measures) Act 2020
10
Part 2--Application of registries modernisation amendments
12
Australian Securities and Investments Commission Act 2001
12
Business Names Registration (Fees) Amendment (Registries
Modernisation) Act 2020
15
ii
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
Business Names Registration (Transitional and Consequential
Provisions) Act 2011
17
Corporations Act 2001
22
National Consumer Credit Protection (Transitional and
Consequential Provisions) Act 2009
27
Treasury Laws Amendment (Registries Modernisation and Other
Measures) Act 2020
31
Part 3--Amendments commencing first day of next quarter
37
Fringe Benefits Tax Assessment Act 1986
37
Part 4--Other amendments
38
Australian Securities and Investments Commission Act 2001
38
Corporations Act 2001
38
Part 5--Amendments of Acts in other portfolios to allow
commutation of certain income streams
41
Social Security Act 1991
41
Veterans' Entitlements Act 1986
41
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
1
A Bill for an Act to amend the law relating to
1
taxation and superannuation, to make
2
miscellaneous and technical amendments of the
3
statute law of the Commonwealth, and for related
4
purposes
5
The Parliament of Australia enacts:
6
1 Short title
7
This Act is the
Treasury Laws Amendment (2022 Measures No. 1)
8
Act 2022
.
9
2
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
2 Commencement
1
(1) Each provision of this Act specified in column 1 of the table
2
commences, or is taken to have commenced, in accordance with
3
column 2 of the table. Any other statement in column 2 has effect
4
according to its terms.
5
6
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
The first 1 January, 1 April, 1 July or
1 October to occur after the day this Act
receives the Royal Assent.
3. Schedule 2
The day after this Act receives the Royal
Assent.
4. Schedule 3
The first 1 January, 1 April, 1 July or
1 October to occur after the day this Act
receives the Royal Assent.
5. Schedule 4,
Part 1
21 June 2022.
21 June 2022
6. Schedule 4,
Part 2
The day after this Act receives the Royal
Assent.
7. Schedule 4,
Part 3
The first 1 January, 1 April, 1 July or
1 October to occur after the day this Act
receives the Royal Assent.
8. Schedule 4,
Part 4
The day after this Act receives the Royal
Assent.
9. Schedule 4,
Part 5
5 April 2022.
5 April 2022
Note:
This table relates only to the provisions of this Act as originally
7
enacted. It will not be amended to deal with any later amendments of
8
this Act.
9
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
3
(2) Any information in column 3 of the table is not part of this Act.
1
Information may be inserted in this column, or information in it
2
may be edited, in any published version of this Act.
3
3 Schedules
4
Legislation that is specified in a Schedule to this Act is amended or
5
repealed as set out in the applicable items in the Schedule
6
concerned, and any other item in a Schedule to this Act has effect
7
according to its terms.
8
Schedule 1
Recovery grants for Cyclone Seroja
4
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
Schedule 1--Recovery grants for Cyclone
1
Seroja
2
3
Income Tax Assessment Act 1997
4
1 Section 11
-
55 (at the end of the table item headed
5
"disasters")
6
Add:
7
Cyclone Seroja--recovery grants ....................................... 59-105
2 After section 59-100
8
Insert:
9
59-105 Cyclone Seroja--recovery grants
10
A payment is not assessable income and is not
*
exempt income if:
11
(a) for the purposes of the Disaster Recovery Funding
12
Arrangements 2018 (set out in a determination made by the
13
Minister for Law Enforcement and Cyber Security on 5 June
14
2018), the payment is a recovery grant made to a small
15
business or primary producer as part of a Category C
16
measure; and
17
(b) the payment relates to Cyclone Seroja.
18
3 Application of amendments
19
The amendments made by this Schedule apply to assessments for the
20
2021-2022 income year and later income years.
21
Transitional provisions relating to the repeal of the Superannuation (Resolution of
Complaints) Act 1993
Schedule 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
5
Schedule 2--Transitional provisions relating
1
to the repeal of the Superannuation
2
(Resolution of Complaints) Act 1993
3
4
Treasury Laws Amendment (Putting Consumers First--
5
Establishment of the Australian Financial
6
Complaints Authority) Act 2018
7
1 Part 3 of Schedule 3 (heading)
8
Omit "
Application
", substitute "
Application, saving and
9
transitional
".
10
2 At the end of Part 3 of Schedule 3
11
Add:
12
33 Transfer of records
13
(1)
This item applies to any records or documents that were in the
14
possession of the following immediately before the commencement of
15
Part 1 of this Schedule:
16
(a) a member of the Superannuation Complaints Tribunal;
17
(b) a member of the staff of the Australian Securities and
18
Investments Commission who had been made available to the
19
Superannuation Complaints Tribunal under section 62 of the
20
Superannuation (Resolution of Complaints) Act 1993
.
21
(2)
The records and documents are to be transferred to the Australian
22
Securities and Investments Commission after that commencement.
23
Note:
The records and documents are Commonwealth records for the purposes of the
Archives
24
Act 1983
.
25
Records and documents taken to be protected information
26
(3)
For the purposes of section 127 of the
Australian Securities and
27
Investments Commission Act 2001
, a record or document transferred to
28
the Australian Securities and Investments Commission under
29
subitem (2) of this item is taken to be protected information, unless the
30
Schedule 2
Transitional provisions relating to the repeal of the Superannuation
(Resolution of Complaints) Act 1993
6
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
document or record has already been lawfully made available to the
1
public.
2
34 Remittal of matters by the Federal Court
3
(1)
This item applies in relation to an appeal to the Federal Court under
4
section 46 of the
Superannuation (Resolution of Complaints) Act 1993
,
5
as in force immediately before the commencement of Part 1 of this
6
Schedule, from a determination of the Superannuation Complaints
7
Tribunal, if the appeal was not finally determined before that
8
commencement.
9
(2)
Without limiting the powers of the Federal Court, the Federal Court
10
may make an order remitting the matter to be determined by the
11
Australian Financial Complaints Authority in accordance with the
12
directions of the Court.
13
35 Transitional rules
14
(1)
The Minister may, by legislative instrument, make rules prescribing
15
matters of a transitional nature (including prescribing any saving or
16
application provisions) relating to the amendments or repeals made by
17
this Schedule.
18
(2)
To avoid doubt, the rules may not do the following:
19
(a) create an offence or civil penalty;
20
(b) provide powers of:
21
(i) arrest or detention; or
22
(ii) entry, search or seizure;
23
(c) impose a tax;
24
(d) set an amount to be appropriated from the Consolidated
25
Revenue Fund under an appropriation in this Act;
26
(e) directly amend the text of this Act.
27
Income tax and withholding exemptions for the FIFA Women's World Cup
Schedule 3
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
7
Schedule 3--Income tax and withholding
1
exemptions for the FIFA Women's
2
World Cup
3
4
Income Tax Assessment Act 1936
5
1 Subparagraph 128B(3)(a)(i)
6
Omit "or 9.3", substitute ", 9.3, 9.4 or 9.5".
7
Income Tax Assessment Act 1997
8
2 Section 11-
5 (table item headed "sports, culture or
9
recreation")
10
After:
11
art society etc. .................................................................... 50-45
insert:
12
Fédération Internationale de Football Association
.............. 50-45
FWWC2023 Pty Ltd
........................................................... 50-45
3 Section 50-45 (at the end of the table)
13
Add:
14
9.4
Fédération Internationale de
Football Association
both of the following:
(a) only amounts included as
*
ordinary income or
*
statutory
income:
(i) on or after 1 July 2020;
and
(ii) before 1 January 2029;
(b) the ordinary income is
*
derived
from, or the statutory income is
from, activities relating to the
Fédération Internationale de
Football Association (FIFA)
Women's World Cup Australia
New Zealand 2023
Schedule 3
Income tax and withholding exemptions for the FIFA Women's World Cup
8
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
9.5
FWWC2023 Pty Ltd
all of the following:
(a) the entity is a
*
wholly-owned
subsidiary of the Fédération
Internationale de Football
Association;
(b) only amounts included as
*
ordinary income or
*
statutory
income:
(i) on or after 1 July 2020;
and
(ii) before 1 January 2029;
(c) the ordinary income is
*
derived
from, or the statutory income is
from, activities relating to the
Fédération Internationale de
Football Association (FIFA)
Women's World Cup Australia
New Zealand 2023
Minor and technical amendments
Schedule 4
Commencement of registries modernisation amendments
Part 1
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
9
Schedule 4--Minor and technical amendments
1
Part 1--Commencement of registries modernisation
2
amendments
3
Business Names Registration (Fees) Amendment (Registries
4
Modernisation) Act 2020
5
1 Subsection 2(1) (table item 2)
6
Repeal the item, substitute:
7
2. Schedule 1
A day or days to be fixed by Proclamation.
However, if any of the provisions do not
commence before 1 July 2026, they
commence on that day.
Corporations (Fees) Amendment (Registries Modernisation)
8
Act 2020
9
2 Subsection 2(1) (table item 2)
10
Repeal the item, substitute:
11
2. Schedule 1
A day or days to be fixed by Proclamation.
However, if any of the provisions do not
commence before 1 July 2026, they
commence on that day.
Financial Sector Reform (Hayne Royal Commission
12
Response--Better Advice) Act 2021
13
3 Subsection 2(1) (table items 3 and 4)
14
Repeal the items, substitute:
15
3. Schedule 1,
Part 3
A day or days to be fixed by Proclamation.
However, if any of the provisions do not
commence before 1 July 2026, they
commence on that day.
4. Schedule 2
A day or days to be fixed by Proclamation.
However, if any of the provisions do not
Schedule 4
Minor and technical amendments
Part 1
Commencement of registries modernisation amendments
10
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
commence before 1 July 2026, they
commence on that day.
National Consumer Credit Protection (Fees) Amendment
1
(Registries Modernisation) Act 2020
2
4 Subsection 2(1) (table item 2)
3
Repeal the item, substitute:
4
2. Schedule 1
A day or days to be fixed by Proclamation.
However, if any of the provisions do not
commence before 1 July 2026, they
commence on that day.
Treasury Laws Amendment (2021 Measures No. 1) Act 2021
5
5 Subsection 2(1) (table item 4)
6
Repeal the item, substitute:
7
4. Schedule 2,
Part 4
A day or days to be fixed by Proclamation.
However, if any of the provisions do not
commence before 1 July 2026, they
commence on that day.
Treasury Laws Amendment (Registries Modernisation and
8
Other Measures) Act 2020
9
6 Subsection 2(1) (table item 2)
10
Repeal the item, substitute:
11
2. Schedule 1,
items 1 to 1258
A day or days to be fixed by Proclamation.
However, if any of the provisions do not
commence before 1 July 2026, they
commence on that day.
Items 1-19, 103:
4 April 2021
(F2021N00065)
7 Subsection 2(1) (table item 5)
12
Repeal the item, substitute:
13
5. Schedule 1,
items 1262 to
1467
A day or days to be fixed by Proclamation.
However, if any of the provisions do not
commence before 1 July 2026, they
Minor and technical amendments
Schedule 4
Commencement of registries modernisation amendments
Part 1
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
11
commence on that day.
8 Items 359, 1315 and 1414 of Schedule 1
1
Repeal the items.
2
9 Application of amendments of commencement table
3
If, before 22 June 2022, an item of Schedule 1 to the
Treasury Laws
4
Amendment (Registries Modernisation and Other Measures) Act 2020
5
has commenced, the amendments of subsection 2(1) of that Act made
6
by this Part do not affect the commencement of that item.
7
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
12
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
Part 2--Application of registries modernisation
1
amendments
2
Australian Securities and Investments Commission Act 2001
3
10 In the appropriate position
4
Insert:
5
Part 37--Application and transitional provisions
6
for the Treasury Laws Amendment
7
(Registries Modernisation and Other
8
Measures) Act 2020
9
10
337 Definitions
11
In this Part:
12
interim period
means the period:
13
(a) starting at the start of 22 June 2022; and
14
(b) ending at the end of the day before the day on which Part 2 of
15
Schedule 4 to the
Treasury Laws Amendment (2022
16
Measures No. 1) Act 2022
commences.
17
postponed item
means any of the following that commenced on
18
22 June 2022 (disregarding Part 1 of Schedule 4 to the
Treasury
19
Laws Amendment (2022 Measures No. 1) Act 2022
):
20
(a) an item of Part 2 of Schedule 1 to the
Treasury Laws
21
Amendment (Registries Modernisation and Other Measures)
22
Act 2020
;
23
(b) an item of Part 3 of Schedule 1 to the
Financial Sector
24
Reform (Hayne Royal Commission Response--Better Advice)
25
Act 2021
;
26
(c) an item of Part 4 of Schedule 2 to the
Treasury Laws
27
Amendment (2021 Measures No. 1) Act 2021
.
28
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
13
Note
Item 103 of Schedule 1 to the
Treasury Laws Amendment (Registries
1
Modernisation and Other Measures) Act 2020
is not covered by
2
paragraph (a) because that item commenced on 4 April 2021.
3
338 Validation of acts or things done during interim period
4
Object
5
(1) The object of this section is to treat all situations during the interim
6
period in every respect as if:
7
(a) the amendments made by Part 1 of Schedule 4 to the
8
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
9
had been made at the start of 21 June 2022; and
10
(b) the amendments made by the postponed items had not been
11
made at the start of 22 June 2022 and had had no effect
12
during the interim period.
13
Validation of acts and things done in interim period
14
(2) An act or thing that was done at any time during the interim period
15
is as valid, and is taken always to have been as valid, as it would
16
have been if:
17
(a) the amendments made by Part 1 of Schedule 4 to the
18
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
19
had been made at the start of 21 June 2022; and
20
(b) in particular, the amendments made by the postponed items
21
had not been made at the start of 22 June 2022 and had had
22
no effect during the interim period.
23
Continuation of delegations
24
(3) Without limiting subsection (2), if:
25
(a) a function or power conferred by this Act or the
Public
26
Governance, Performance and Accountability Act 2013
was
27
delegated to a person; and
28
(b) the delegation was in force immediately before 22 June 2022;
29
and
30
(c) but for this subsection, the delegation would have ceased to
31
have effect at the start of 22 June 2022 because of any of the
32
amendments made by the postponed items;
33
then:
34
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
14
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
(d) an act or thing done by the delegate in the interim period is,
1
and is taken always to have been, as valid a performance or
2
exercise of the function or power as it would have been if the
3
delegation had continued in force throughout the interim
4
period; and
5
(e) the delegation has effect, on and after the day section 1 of the
6
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
7
commences, as if it had been made at the time that section
8
commences.
9
Acts and things to which this section applies
10
(4) This section applies to an act or thing, regardless of the basis on
11
which, or capacity in which, the act or thing was done or purported
12
to be done.
13
339 Application of item 102 of Schedule 1 to the Treasury Laws
14
Amendment (Registries Modernisation and Other
15
Measures) Act 2020
16
(1) The amendment of section 12A made by item 102 of Schedule 1 to
17
the
Treasury Laws Amendment (Registries Modernisation and
18
Other Measures) Act 2020
applies, in relation to a matter (the
19
relevant matter
), on and after the earliest of the following days:
20
(a) if a notifiable instrument is in force under paragraph (2)(a) of
21
this section--the day the instrument specifies;
22
(b) if a notifiable instrument is in force under paragraph (2)(b) of
23
this section that specifies matters that include the relevant
24
matter--the day the instrument specifies in relation to those
25
matters;
26
(c) 1 July 2026.
27
Note:
Section 12A, as in force immediately before the commencement day
28
for the amending item, will continue to apply in relation to the
29
relevant matter until the day that applies under this subsection.
30
(2) The Minister:
31
(a) may by notifiable instrument specify a day for the purposes
32
of paragraph (1)(a); and
33
(b) may by notifiable instrument specify days and matters for the
34
purposes of paragraph (1)(b).
35
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
15
Note:
For specification by class, see subsection 13(3) of the
Legislation Act
1
2003
.
2
(3) A day specified in a notifiable instrument made under
3
subsection (2) must be:
4
(a) on or after the day that the instrument is made; and
5
(b) on or after the day on which item 102 of Schedule 1 to the
6
Treasury Laws Amendment (Registries Modernisation and
7
Other Measures) Act 2020
commences.
8
Business Names Registration (Fees) Amendment (Registries
9
Modernisation) Act 2020
10
11 At the end of Schedule 1
11
Add:
12
2 Validation of acts or things done during interim period
13
Object
14
(1)
The object of this item is to treat all situations during the interim period
15
in every respect as if:
16
(a) the amendments made by Part 1 of Schedule 4 to the
17
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
18
had been made at the start of 21 June 2022; and
19
(b) the amendments made by the postponed items had not been
20
made at the start of 22 June 2022 and had had no effect
21
during the interim period.
22
Validation of acts and things done in interim period
23
(2)
An act or thing that was done at any time during the interim period is as
24
valid, and is taken always to have been as valid, as it would have been
25
if:
26
(a) the amendments made by Part 1 of Schedule 4 to the
27
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
28
had been made at the start of 21 June 2022; and
29
(b) in particular, the amendments made by the postponed items
30
had not been made at the start of 22 June 2022 and had had
31
no effect during the interim period.
32
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
16
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
Acts and things to which this item applies
1
(3)
This item applies to an act or thing, regardless of the basis on which, or
2
capacity in which, the act or thing was done or purported to be done.
3
Definitions
4
(4)
In this item:
5
interim period
means the period:
6
(a) starting at the start of 22 June 2022; and
7
(b) ending at the end of the day before the day on which Part 2 of
8
Schedule 4 to the
Treasury Laws Amendment (2022
9
Measures No. 1) Act 2022
commences.
10
postponed item
means any of the following that commenced on 22 June
11
2022 (disregarding Part 1 of Schedule 4 to the
Treasury Laws
12
Amendment (2022 Measures No. 1) Act 2022
):
13
(a) an item of Part 2 of Schedule 1 to the
Treasury Laws
14
Amendment (Registries Modernisation and Other Measures)
15
Act 2020
;
16
(b) an item of Part 3 of Schedule 1 to the
Financial Sector
17
Reform (Hayne Royal Commission Response--Better Advice)
18
Act 2021
;
19
(c) an item of Part 4 of Schedule 2 to the
Treasury Laws
20
Amendment (2021 Measures No. 1) Act 2021
.
21
Note
Item 103 of Schedule 1 to the
Treasury Laws Amendment (Registries
22
Modernisation and Other Measures) Act 2020
is not covered by
23
paragraph (a) because that item commenced on 4 April 2021.
24
3 Application of item 1
25
(1)
The amendment made by item 1 applies, in relation to a matter (the
26
relevant matter
), on and after the earliest of the following days:
27
(a) if a notifiable instrument is in force under paragraph (2)(a) of
28
this item--the day the instrument specifies;
29
(b) if a notifiable instrument is in force under paragraph (2)(b) of
30
this item that specifies matters that include the relevant
31
matter--the day the instrument specifies in relation to those
32
matters;
33
(c) 1 July 2026.
34
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
17
Note:
The provision amended by item 1, as in force immediately before the
1
commencement day for the amending item, will continue to apply in
2
relation to the relevant matter until the day that applies under this
3
subitem.
4
(2)
The Minister:
5
(a) may by notifiable instrument specify a day for the purposes
6
of paragraph (1)(a); and
7
(b) may by notifiable instrument specify days and matters for the
8
purposes of paragraph (1)(b).
9
Note:
For specification by class, see subsection 13(3) of the
Legislation Act
10
2003
.
11
(3)
A day specified in a notifiable instrument made under subitem (2) must
12
be:
13
(a) on or after the day that the instrument is made; and
14
(b) on or after the day on which this Schedule commences.
15
Business Names Registration (Transitional and
16
Consequential Provisions) Act 2011
17
12 At the end of the Act
18
Add:
19
Schedule 4--Application and transitional
20
provisions for the Treasury Laws
21
Amendment (Registries Modernisation
22
and Other Measures) Act 2020
23
24
1 Definitions
25
In this Schedule:
26
amending item
means an item of Part 2 of Schedule 1 to the
Treasury
27
Laws Amendment (Registries Modernisation and Other Measures) Act
28
2020
that amends a provision of the Business Names Registration Act
29
or of this Act.
30
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
18
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
application day
, for an amendment made by an amending item, as
1
applying in relation to a matter, means the day on and after which the
2
amendment applies in relation to that matter because of item 3 of this
3
Schedule.
4
commencement day
, for an amending item, means the day on which the
5
item commences (taking into account Part 1 of Schedule 4 to the
6
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
).
7
interim period
means the period:
8
(a) starting at the start of 22 June 2022; and
9
(b) ending at the end of the day before the day on which Part 2 of
10
Schedule 4 to the
Treasury Laws Amendment (2022
11
Measures No. 1) Act 2022
commences.
12
postponed item
means any of the following that commenced on 22 June
13
2022 (disregarding Part 1 of Schedule 4 to the
Treasury Laws
14
Amendment (2022 Measures No. 1) Act 2022
):
15
(a) an item of Part 2 of Schedule 1 to the
Treasury Laws
16
Amendment (Registries Modernisation and Other Measures)
17
Act 2020
;
18
(b) an item of Part 3 of Schedule 1 to the
Financial Sector
19
Reform (Hayne Royal Commission Response--Better Advice)
20
Act 2021
;
21
(c) an item of Part 4 of Schedule 2 to the
Treasury Laws
22
Amendment (2021 Measures No. 1) Act 2021
.
23
Note
Item 103 of Schedule 1 to the
Treasury Laws Amendment (Registries
24
Modernisation and Other Measures) Act 2020
is not covered by
25
paragraph (a) because that item commenced on 4 April 2021.
26
2 Validation of acts or things done during interim period
27
Object
28
(1)
The object of this item is to treat all situations during the interim period
29
in every respect as if:
30
(a) the amendments made by Part 1 of Schedule 4 to the
31
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
32
had been made at the start of 21 June 2022; and
33
(b) the amendments made by the postponed items had not been
34
made at the start of 22 June 2022 and had had no effect
35
during the interim period.
36
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
19
Validation of acts and things done in interim period
1
(2)
An act or thing that was done at any time during the interim period is as
2
valid, and is taken always to have been as valid, as it would have been
3
if:
4
(a) the amendments made by Part 1 of Schedule 4 to the
5
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
6
had been made at the start of 21 June 2022; and
7
(b) in particular, the amendments made by the postponed items
8
had not been made at the start of 22 June 2022 and had had
9
no effect during the interim period.
10
Continuation of delegations
11
(3)
Without limiting subitem (2), if:
12
(a) a function or power conferred by the Business Names
13
Registration Act or this Act was delegated to a person; and
14
(b) the delegation was in force immediately before 22 June 2022;
15
and
16
(c) but for this subitem, the delegation would have ceased to
17
have effect at the start of 22 June 2022 because of any of the
18
amendments made by the postponed items;
19
then:
20
(d) an act or thing done by the delegate in the interim period is,
21
and is taken always to have been, as valid a performance or
22
exercise of the function or power as it would have been if the
23
delegation had continued in force throughout the interim
24
period; and
25
(e) the delegation has effect, on and after the day section 1 of the
26
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
27
commences, as if it had been made at the time that section
28
commences.
29
Acts and things to which this item applies
30
(4)
This item applies to an act or thing, regardless of the basis on which, or
31
capacity in which, the act or thing was done or purported to be done.
32
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
20
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
3 Application of amendments
1
(1)
An amendment of a provision of the Business Names Registration Act
2
or this Act that is made by an amending item applies, in relation to a
3
matter (the
relevant matter
), on and after the earliest of the following
4
days:
5
(a) if the amending item is covered by a notifiable instrument in
6
force under paragraph (2)(a) of this item--the day the
7
instrument specifies for the item;
8
(b) if the amending item is covered by a notifiable instrument in
9
force under paragraph (2)(b) of this item that specifies
10
matters for the item that include the relevant matter--the day
11
the instrument specifies for the item in relation to those
12
matters;
13
(c) 1 July 2026.
14
Note:
The provision, as in force immediately before the commencement day
15
for the amending item, will continue to apply in relation to the
16
relevant matter until the day that applies under this subitem.
17
(2)
The Minister:
18
(a) may by notifiable instrument specify days for amending
19
items for the purposes of paragraph (1)(a); and
20
(b) may by notifiable instrument specify days and matters for
21
amending items for the purposes of paragraph (1)(b).
22
Note:
For specification by class, see subsection 13(3) of the
Legislation Act
23
2003
.
24
(3)
A day specified for an amending item in a notifiable instrument made
25
under subitem (2) must be:
26
(a) on or after the day that the instrument is made; and
27
(b) on or after the commencement day for the amending item.
28
(4)
Without limiting subsection 13(3) of the
Legislation Act 2003
, an
29
instrument made under subitem (2) of this item may specify all
30
amending items as a class of amending items.
31
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
21
4 Liability for damages
1
Section 78 of the Business Names Registration Act, as in force
2
immediately before the commencement day for amending item 322,
3
continues to apply, on and after that day, in relation to an act that relates
4
to a matter and is done or omitted to be done:
5
(a) by ASIC or a person mentioned in any of paragraphs (c) to
6
(e) of that section; and
7
(b) either:
8
(i) before the application day for the amendment made by
9
that amending item, as applying in relation to that
10
matter; or
11
(ii) in accordance with item 6 of this Schedule.
12
5 Notice nominating or withdrawing nomination of principal
13
contact
14
A notice that:
15
(a) nominates, or withdraws the nomination of, a person as the
16
principal contact in relation to an entity under section 82, 84,
17
86 or 87 of the Business Names Registration Act; and
18
(b) is validly lodged with ASIC under that section;
19
continues in force (and may be dealt with) as if the notice had been
20
lodged with the Registrar.
21
Note:
Whether a notice is validly lodged will be affected by whether an
22
amending item that amends that section has commenced and how the
23
amendment made by that amending item applies to the circumstances
24
in which the notice is lodged. For the application of amending items,
25
see item 3 of this Schedule.
26
6 Things started but not finished by ASIC
27
If:
28
(a) an amending item amends a provision of the Business Names
29
Registration Act or this Act; and
30
(b) before the application day for the amendment made by the
31
amending item, as applying in relation to a matter, ASIC
32
started doing a thing that relates to that matter under the
33
provision as in force immediately before the commencement
34
day for the amending item; and
35
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
22
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
(c) immediately before that application day, ASIC had not
1
finished doing that thing; and
2
(d) on and after that application day, doing that thing is within
3
the powers or functions of the Registrar;
4
then, on and after that application day:
5
(e) ASIC may finish doing that thing as if that thing were being
6
done by the Registrar in performing or exercising the
7
Registrar's functions or powers; and
8
(f) to the extent that ASIC does not finish doing that thing under
9
paragraph (e), the Registrar may finish doing that thing in
10
performing and exercising the Registrar's functions and
11
powers.
12
Corporations Act 2001
13
13 Before Part 10.35A
14
Insert:
15
Part 10.35--Application and transitional provisions
16
relating to registries modernisation
17
amendments
18
19
1650 Definitions
20
(1) In this Part:
21
amending item
means any of the following that amends a
22
provision of this Act:
23
(a) an item of Part 2 of Schedule 1 to the
Treasury Laws
24
Amendment (Registries Modernisation and Other Measures)
25
Act 2020
;
26
(b) an item of Part 3 of Schedule 1, or of Schedule 2, to the
27
Financial Sector Reform (Hayne Royal Commission
28
Response--Better Advice) Act 2021
;
29
(c) an item of Part 4 of Schedule 2 to the
Treasury Laws
30
Amendment (2021 Measures No. 1) Act 2021
;
31
(d) an item specified under subsection (2).
32
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
23
application day
, for an amendment made by an amending item, as
1
applying in relation to a matter, means the day on and after which
2
the amendment applies in relation to that matter because of
3
section 1650B.
4
commencement day
, for an amending item, means the day on
5
which the amending item commences (taking into account Part 1 of
6
Schedule 4 to the
Treasury Laws Amendment (2022 Measures No.
7
1) Act 2022
).
8
interim period
means the period:
9
(a) starting at the start of 22 June 2022; and
10
(b) ending at the end of the day before the day on which Part 2 of
11
Schedule 4 to the
Treasury Laws Amendment (2022
12
Measures No. 1) Act 2022
commences.
13
postponed item
means any of the following that commenced on
14
22 June 2022 (disregarding Part 1 of Schedule 4 to the
Treasury
15
Laws Amendment (2022 Measures No. 1) Act 2022
):
16
(a) an item of Part 2 of Schedule 1 to the
Treasury Laws
17
Amendment (Registries Modernisation and Other Measures)
18
Act 2020
;
19
(b) an item of Part 3 of Schedule 1 to the
Financial Sector
20
Reform (Hayne Royal Commission Response--Better Advice)
21
Act 2021
;
22
(c) an item of Part 4 of Schedule 2 to the
Treasury Laws
23
Amendment (2021 Measures No. 1) Act 2021
.
24
Note
Item 103 of Schedule 1 to the
Treasury Laws Amendment (Registries
25
Modernisation and Other Measures) Act 2020
is not covered by
26
paragraph (a) because that item commenced on 4 April 2021.
27
(2) For the purposes of paragraph (d) of the definition of
amending
28
item
in subsection (1), the Minister may, by legislative instrument,
29
specify items that:
30
(a) are in a Schedule to any Act and amend a provision of this
31
Act that deals with a matter related to a government registry
32
regime; and
33
(b) are to commence after the end of the interim period but
34
before 1 July 2026.
35
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
24
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
(3) For the purposes of subparagraph 1650B(1)(c)(ii), the Minister
1
may, by legislative instrument, specify a day for an item specified
2
under subsection (2) of this section. The day must occur after the
3
end of the interim period but before 1 July 2026.
4
1650A Validation of acts or things done during interim period
5
Object
6
(1) The object of this section is to treat all situations during the interim
7
period in every respect as if:
8
(a) the amendments made by Part 1 of Schedule 4 to the
9
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
10
had been made at the start of 21 June 2022; and
11
(b) the amendments made by the postponed items had not been
12
made at the start of 22 June 2022 and had had no effect
13
during the interim period.
14
Validation of acts and things done in interim period
15
(2) An act or thing that was done at any time during the interim period
16
is as valid, and is taken always to have been as valid, as it would
17
have been if:
18
(a) the amendments made by Part 1 of Schedule 4 to the
19
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
20
had been made at the start of 21 June 2022; and
21
(b) in particular, the amendments made by the postponed items
22
had not been made at the start of 22 June 2022 and had had
23
no effect during the interim period.
24
Continuation of delegations
25
(3) Without limiting subsection (2), if:
26
(a) a function or power conferred by this Act was delegated to a
27
person; and
28
(b) the delegation was in force immediately before 22 June 2022;
29
and
30
(c) but for this subsection, the delegation would have ceased to
31
have effect at the start of 22 June 2022 because of any of the
32
amendments made by the postponed items;
33
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
25
then:
1
(d) an act or thing done by the delegate in the interim period is,
2
and is taken always to have been, as valid a performance or
3
exercise of the function or power as it would have been if the
4
delegation had continued in force throughout the interim
5
period; and
6
(e) the delegation has effect, on and after the day section 1 of the
7
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
8
commences, as if it had been made at the time that section
9
commences.
10
Acts and things to which this section applies
11
(4) This section applies to an act or thing, regardless of the basis on
12
which, or capacity in which, the act or thing was done or purported
13
to be done.
14
1650B Application of amendments
15
(1) An amendment of a provision of this Act that is made by an
16
amending item applies, in relation to a matter (the
relevant matter
),
17
on and after the earliest of the following days:
18
(a) if the amending item is covered by a notifiable instrument in
19
force under paragraph (2)(a) of this section--the day the
20
instrument specifies for the item;
21
(b) if the amending item is covered by a notifiable instrument in
22
force under paragraph (2)(b) of this section that specifies
23
matters for the item that include the relevant matter--the day
24
the instrument specifies for the item in relation to those
25
matters;
26
(c) whichever of the following is applicable:
27
(i) if a day is specified for the amending item under
28
subsection 1650(3)--that day;
29
(ii) otherwise--1 July 2026.
30
Note:
The provision, as in force immediately before the commencement day
31
for the amending item, will continue to apply in relation to the
32
relevant matter until the day that applies under this subsection.
33
(2) The Minister:
34
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
26
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
(a) may by notifiable instrument specify days for amending
1
items for the purposes of paragraph (1)(a); and
2
(b) may by notifiable instrument specify days and matters for
3
amending items for the purposes of paragraph (1)(b).
4
Note:
For specification by class, see subsection 13(3) of the
Legislation Act
5
2003
.
6
(3) A day specified for an amending item in a notifiable instrument
7
made under subsection (2) must be:
8
(a) on or after the day that the instrument is made; and
9
(b) on or after the commencement day for the amending item.
10
(4) Without limiting subsection 13(3) of the
Legislation Act 2003
, an
11
instrument made under subsection (2) of this section may specify
12
all amending items as a class of amending items.
13
1650C Things started but not finished by ASIC
14
If:
15
(a) an amending item amends a provision of this Act; and
16
(b) before the application day for the amendment made by the
17
amending item, as applying in relation to a matter, ASIC
18
started doing a thing that relates to that matter under the
19
provision as in force immediately before the commencement
20
day for the amending item; and
21
(c) immediately before that application day, ASIC had not
22
finished doing that thing; and
23
(d) on and after that application day, doing that thing is within
24
the powers or functions of the Registrar;
25
then, on and after that application day:
26
(e) ASIC may finish doing that thing as if that thing were being
27
done by the Registrar in performing or exercising the
28
Registrar's functions or powers; and
29
(f) to the extent that ASIC does not finish doing that thing under
30
paragraph (e), the Registrar may finish doing that thing in
31
performing and exercising the Registrar's functions and
32
powers.
33
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
27
1650D Register of Liquidators
1
(1) The Registrar must include in the record maintained under
2
section 15-1 of Schedule 2, as substituted by amending item 1317,
3
all details that, immediately before the application day for that
4
item, were contained in the Register of Liquidators formerly
5
established and maintained under section 15-1 of Schedule 2 to this
6
Act as in force immediately before the commencement of that
7
item.
8
(2) Paragraph 1650B(1)(b) does not apply in relation to amending
9
item 1317.
10
(3) In this section:
11
amending item 1317
means item 1317 of Schedule 1 to the
12
Treasury Laws Amendment (Registries Modernisation and Other
13
Measures) Act 2020
.
14
application day
, for amending item 1317, means the day on and
15
after which the amendment made by that item applies because of
16
paragraph 1650B(1)(a) or (c), as the case requires.
17
National Consumer Credit Protection (Transitional and
18
Consequential Provisions) Act 2009
19
14 Before Schedule 8
20
Insert:
21
Schedule 7--Application and transitional
22
provisions for the Treasury Laws
23
Amendment (Registries Modernisation
24
and Other Measures) Act 2020
25
26
1 Definitions
27
In this Schedule:
28
amending item
means an item of Part 2 of Schedule 1 to the
Treasury
29
Laws Amendment (Registries Modernisation and Other Measures) Act
30
2020
that amends a provision of the National Credit Act.
31
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
28
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
application day
, for an amendment made by an amending item, as
1
applying in relation to a matter, means the day on and after which the
2
amendment applies in relation to that matter because of item 3.
3
commencement day
, for an amending item, means the day on which the
4
amending item commences (taking into account Part 1 of Schedule 4 to
5
the
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
).
6
interim period
means the period:
7
(a) starting at the start of 22 June 2022; and
8
(b) ending at the end of the day before the day on which Part 2 of
9
Schedule 4 to the
Treasury Laws Amendment (2022
10
Measures No. 1) Act 2022
commences.
11
postponed item
means any of the following that commenced on 22 June
12
2022 (disregarding Part 1 of Schedule 4 to the
Treasury Laws
13
Amendment (2022 Measures No. 1) Act 2022
):
14
(a) an item of Part 2 of Schedule 1 to the
Treasury Laws
15
Amendment (Registries Modernisation and Other Measures)
16
Act 2020
;
17
(b) an item of Part 3 of Schedule 1 to the
Financial Sector
18
Reform (Hayne Royal Commission Response--Better Advice)
19
Act 2021
;
20
(c) an item of Part 4 of Schedule 2 to the
Treasury Laws
21
Amendment (2021 Measures No. 1) Act 2021
.
22
Note
Item 103 of Schedule 1 to the
Treasury Laws Amendment (Registries
23
Modernisation and Other Measures) Act 2020
is not covered by
24
paragraph (a) because that item commenced on 4 April 2021.
25
2 Validation of acts or things done during interim period
26
Object
27
(1)
The object of this item is to treat all situations during the interim period
28
in every respect as if:
29
(a) the amendments made by Part 1 of Schedule 4 to the
30
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
31
had been made at the start of 21 June 2022; and
32
(b) the amendments made by the postponed items had not been
33
made at the start of 22 June 2022 and had had no effect
34
during the interim period.
35
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
29
Validation of acts and things done in interim period
1
(2)
An act or thing that was done at any time during the interim period is as
2
valid, and is taken always to have been as valid, as it would have been
3
if:
4
(a) the amendments made by Part 1 of Schedule 4 to the
5
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
6
had been made at the start of 21 June 2022; and
7
(b) in particular, the amendments made by the postponed items
8
had not been made at the start of 22 June 2022 and had had
9
no effect during the interim period.
10
Continuation of delegations
11
(3)
Without limiting subitem (2), if:
12
(a) a function or power conferred by the National Credit Act or
13
this Act was delegated to a person; and
14
(b) the delegation was in force immediately before 22 June 2022;
15
and
16
(c) but for this subitem, the delegation would have ceased to
17
have effect at the start of 22 June 2022 because of any of the
18
amendments made by the postponed items;
19
then:
20
(d) an act or thing done by the delegate in the interim period is,
21
and is taken always to have been, as valid a performance or
22
exercise of the function or power as it would have been if the
23
delegation had continued in force throughout the interim
24
period; and
25
(e) the delegation has effect, on and after the day section 1 of the
26
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
27
commences, as if it had been made at the time that section
28
commences.
29
Acts and things to which this item applies
30
(4)
This item applies to an act or thing, regardless of the basis on which, or
31
capacity in which, the act or thing was done or purported to be done.
32
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
30
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
3 Application of amendments
1
(1)
An amendment of a provision of the National Credit Act that is made by
2
an amending item applies, in relation to a matter (the
relevant matter
),
3
on and after the earliest of the following days:
4
(a) if the amending item is covered by a notifiable instrument in
5
force under paragraph (2)(a) of this item--the day the
6
instrument specifies for the item;
7
(b) if the amending item is covered by a notifiable instrument in
8
force under paragraph (2)(b) of this item that specifies
9
matters for the item that include the relevant matter--the day
10
the instrument specifies for the item in relation to those
11
matters;
12
(c) 1 July 2026.
13
Note:
The provision, as in force immediately before the commencement day
14
for the amending item, will continue to apply in relation to the
15
relevant matter until the day that applies under this subitem.
16
(2)
The Minister:
17
(a) may by notifiable instrument specify days for amending
18
items for the purposes of paragraph (1)(a); and
19
(b) may by notifiable instrument specify days and matters for
20
amending items for the purposes of paragraph (1)(b).
21
Note:
For specification by class, see subsection 13(3) of the
Legislation Act
22
2003
.
23
(3)
A day specified for an amending item in a notifiable instrument made
24
under subitem (2) must be:
25
(a) on or after the day that the instrument is made; and
26
(b) on or after the commencement day for the amending item.
27
(4)
Without limiting subsection 13(3) of the
Legislation Act 2003
, an
28
instrument made under subitem (2) of this item may specify all
29
amending items as a class of amending items.
30
4 Things started but not finished by ASIC
31
If:
32
(a) an amending item amends a provision of the National Credit
33
Act; and
34
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
31
(b) before the application day for the amendment made by the
1
amending item, as applying in relation to a matter, ASIC
2
started doing a thing that relates to that matter under the
3
provision as in force immediately before the commencement
4
day for the amending item; and
5
(c) immediately before that application day, ASIC had not
6
finished doing that thing; and
7
(d) on and after that application day, doing that thing is within
8
the powers or functions of the Registrar;
9
then, on and after that application day:
10
(e) ASIC may finish doing that thing as if that thing were being
11
done by the Registrar in performing or exercising the
12
Registrar's functions or powers; and
13
(f) to the extent that ASIC does not finish doing that thing under
14
paragraph (e), the Registrar may finish doing that thing in
15
performing and exercising the Registrar's functions and
16
powers.
17
Treasury Laws Amendment (Registries Modernisation and
18
Other Measures) Act 2020
19
15 Part 3 of Schedule 1
20
Repeal the Part, substitute:
21
Part 3--Application and transitional provisions
22
1465 Definitions
23
(1)
In this Part:
24
amending item
means:
25
(a) an item (other than item 103) of Part 2 of this Schedule that
26
amends a provision of any of the following:
27
(i) the
A New Tax System (Australian Business Number)
28
Act 1999
;
29
(ii) the
A New Tax System (Goods and Services Tax) Act
30
1999
;
31
(iii) the
Australian Prudential Regulation Authority Act
32
1998
;
33
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
32
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
(iv) the
Income Tax Assessment Act 1997
;
1
(v) the
Superannuation Industry (Supervision) Act 1993
;
2
(vi) the
Taxation Administration Act 1953
; or
3
(b) an item specified under subitem (2).
4
application day
, for an amendment made by an amending item, as
5
applying in relation to a matter, means the day on and after which the
6
amendment applies in relation to that matter because of item 1467.
7
commencement day
, for an amending item, means the day on which the
8
item commences (taking into account Part 1 of Schedule 4 to the
9
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
).
10
interim period
means the period:
11
(a) starting at the start of 22 June 2022; and
12
(b) ending at the end of the day before the day on which Part 2 of
13
Schedule 4 to the
Treasury Laws Amendment (2022
14
Measures No. 1) Act 2022
commences.
15
postponed item
means any of the following that commenced on 22 June
16
2022 (disregarding Part 1 of Schedule 4 to the
Treasury Laws
17
Amendment (2022 Measures No. 1) Act 2022
):
18
(a) an item of Part 2 of Schedule 1 to the
Treasury Laws
19
Amendment (Registries Modernisation and Other Measures)
20
Act 2020
;
21
(b) an item of Part 3 of Schedule 1 to the
Financial Sector
22
Reform (Hayne Royal Commission Response--Better Advice)
23
Act 2021
;
24
(c) an item of Part 4 of Schedule 2 to the
Treasury Laws
25
Amendment (2021 Measures No. 1) Act 2021
.
26
Note
Item 103 of Schedule 1 to the
Treasury Laws Amendment (Registries
27
Modernisation and Other Measures) Act 2020
is not covered by
28
paragraph (a) because that item commenced on 4 April 2021.
29
(2)
For the purposes of paragraph (b) of the definition of
amending item
in
30
subitem (1), the Minister may, by legislative instrument, specify items
31
that:
32
(a) are in a Schedule to any Act and amend a provision that:
33
(i) is a provision of an Act referred to in paragraph (a) of
34
that definition; and
35
(ii) deals with a matter related to a government registry
36
regime; and
37
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
33
(b) are to commence on a day after the end of the interim period
1
but before 1 July 2026.
2
(3)
For the purposes of subparagraph 1467(1)(c)(i), the Minister may, by
3
legislative instrument, specify a day for an item specified under
4
subitem (2) of this item. The day must occur after the end of the interim
5
period but before 1 July 2026.
6
1466 Validation of acts or things done during interim period
7
Object
8
(1)
The object of this item is to treat all situations during the interim period
9
in every respect as if:
10
(a) the amendments made by Part 1 of Schedule 4 to the
11
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
12
had been made at the start of 21 June 2022; and
13
(b) the amendments made by the postponed items had not been
14
made at the start of 22 June 2022 and had had no effect
15
during the interim period.
16
Validation of acts and things done in interim period
17
(2)
An act or thing that was done at any time during the interim period is as
18
valid, and is taken always to have been as valid, as it would have been
19
if:
20
(a) the amendments made by Part 1 of Schedule 4 to the
21
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
22
had been made at the start of 21 June 2022; and
23
(b) in particular, the amendments made by the postponed items
24
had not been made at the start of 22 June 2022 and had had
25
no effect during the interim period.
26
Continuation of delegations
27
(3)
Without limiting subitem (2), if:
28
(a) a function or power conferred by any of the following Acts
29
was delegated to a person:
30
(i) the
A New Tax System (Australian Business Number)
31
Act 1999
;
32
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
34
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
(ii) the
A New Tax System (Goods and Services Tax) Act
1
1999
;
2
(iii) the
Australian Prudential Regulation Authority Act
3
1998
;
4
(iv) the
Commonwealth Registers Act 2020
;
5
(v) the
Income Tax Assessment Act 1997
;
6
(vi) the
Superannuation Industry (Supervision) Act 1993
;
7
(vii) the
Taxation Administration Act 1953
; and
8
(b) the delegation was in force immediately before 22 June 2022;
9
and
10
(c) but for this subitem, the delegation would have ceased to
11
have effect at the start of 22 June 2022 because of any of the
12
amendments made by the postponed items;
13
then:
14
(d) an act or thing done by the delegate in the interim period is,
15
and is taken always to have been, as valid a performance or
16
exercise of the function or power as it would have been if the
17
delegation had continued in force throughout the interim
18
period; and
19
(e) the delegation has effect, on and after the day section 1 of the
20
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
21
commences, as if it had been made at the time that section
22
commences.
23
Acts and things to which this item applies
24
(4)
This item applies to an act or thing, regardless of the basis on which, or
25
capacity in which, the act or thing was done or purported to be done.
26
1467 Application of amendments
27
(1)
An amendment of a provision of an Act that is made by an amending
28
item applies, in relation to a matter (the
relevant matter
), on and after
29
the earliest of the following days:
30
(a) if the amending item is covered by a notifiable instrument in
31
force under paragraph (2)(a) of this item--the day the
32
instrument specifies for the item;
33
(b) if the amending item is covered by a notifiable instrument in
34
force under paragraph (2)(b) of this item that specifies
35
Minor and technical amendments
Schedule 4
Application of registries modernisation amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
35
matters for the item that include the relevant matter--the day
1
the instrument specifies for the item in relation to those
2
matters;
3
(c) whichever of the following is applicable:
4
(i) if a day is specified for the amending item under
5
subitem 1465(3)--that day;
6
(ii) otherwise--1 July 2026.
7
Note:
The provision, as in force immediately before the commencement day
8
for the amending item, will continue to apply in relation to the
9
relevant matter until the day that applies under this subitem.
10
(2)
The Minister:
11
(a) may by notifiable instrument specify days for amending
12
items for the purposes of paragraph (1)(a); and
13
(b) may by notifiable instrument specify days and matters for
14
amending items for the purposes of paragraph (1)(b).
15
Note:
For specification by class, see subsection 13(3) of the
Legislation Act
16
2003
.
17
(3)
A day specified for an amending item in a notifiable instrument made
18
under subitem (2) must be:
19
(a) on or after the day that the instrument is made; and
20
(b) on or after the commencement day for the amending item.
21
(4)
Without limiting subsection 13(3) of the
Legislation Act 2003
, an
22
instrument made under subitem (2) of this item may specify all
23
amending items as a class of amending items.
24
1468 Things started but not finished by ASIC
25
If:
26
(a) an amending item amends a provision of an Act; and
27
(b) before the application day for the amendment made by the
28
amending item, as applying in relation to a matter, ASIC
29
started doing a thing that relates to that matter under the
30
provision as in force immediately before the commencement
31
day for the amending item; and
32
(c) immediately before that application day, ASIC had not
33
finished doing that thing; and
34
Schedule 4
Minor and technical amendments
Part 2
Application of registries modernisation amendments
36
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
(d) on and after that application day, doing that thing is within
1
the powers or functions of the Registrar;
2
then, on and after that application day:
3
(e) ASIC may finish doing that thing as if that thing were being
4
done by the Registrar in performing or exercising the
5
Registrar's functions or powers; and
6
(f) to the extent that ASIC does not finish doing that thing under
7
paragraph (e), the Registrar may finish doing that thing in
8
performing and exercising the Registrar's functions and
9
powers.
10
Minor and technical amendments
Schedule 4
Amendments commencing first day of next quarter
Part 3
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
37
Part 3--Amendments commencing first day of next
1
quarter
2
Fringe Benefits Tax Assessment Act 1986
3
16 Subsection 5B(1E) (method statement, paragraph (d) of
4
step 2)
5
Omit "societies and associations that are rebatable employers",
6
substitute "certain societies and associations that are exempt from
7
income tax".
8
17 Subsection 57A(4)
9
Omit "that is a rebatable employer", substitute "that:
10
(a) is exempt from income tax under Division 50 of the
Income
11
Tax Assessment Act 1997
; and
12
(b) is not a company referred to in paragraph 65J(5)(a) or (b);
13
and
14
(c) is not a registered public benevolent institution or registered
15
health promotion charity.".
16
18 Application of amendments
17
Subsection 57A(4) of the
Fringe Benefits Tax Assessment Act 1986
, as
18
amended by this Part, applies in relation to FBT years beginning on or
19
after 1 April 2017.
20
Schedule 4
Minor and technical amendments
Part 4
Other amendments
38
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
Part 4--Other amendments
1
Australian Securities and Investments Commission Act 2001
2
19 Section 143
3
Repeal the section, substitute:
4
143 Remuneration
5
(1) A member of a Financial Services and Credit Panel is to be paid
6
the remuneration that is determined by the Remuneration Tribunal.
7
If no determination of that remuneration by the Tribunal is in
8
operation, the member is to be paid the remuneration that is
9
prescribed under subsection (4).
10
(2) A member of a Financial Services and Credit Panel is to be paid
11
the allowances that are prescribed under subsection (4).
12
(3) This section has effect subject to the
Remuneration Tribunal Act
13
1973
.
14
(4) The Minister may, by legislative instrument, prescribe:
15
(a) remuneration for the purposes of subsection (1); and
16
(b) allowances for the purposes of subsection (2).
17
20 Paragraph 157(3)(b)
18
Omit "affecting", substitute "made in relation to".
19
Corporations Act 2001
20
21 Subparagraph 921L(1)(c)(ii)
21
Omit "relevant provider", substitute "person who is or was the relevant
22
provider".
23
22 Subsection 921L(1) (note)
24
Repeal the note, substitute:
25
Note:
If a registration prohibition order is in force against a person who is or
26
was a relevant provider:
27
Minor and technical amendments
Schedule 4
Other amendments
Part 4
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
39
(a) the person's registration under subsection 921ZC(1) will cease to
1
be in force at the cancellation time specified in the order (unless
2
the registration has ceased to be in force at an earlier time) (see
3
sections 921ZD and 921ZE); and
4
(b) ASIC must refuse to register the person until after the prohibition
5
end day specified in the order (see subsection 921ZC(3)).
6
23 Section 921M (heading)
7
Omit "
relevant provider
", substitute "
affected person
".
8
24 Subsection 921M(1)
9
Omit "a relevant provider", substitute "a person (the
affected person
)".
10
25 Paragraphs 921M(1)(a), (b) and (c)
11
Omit "relevant provider" (wherever occurring), substitute "affected
12
person".
13
26 Section 921N (heading)
14
Omit "
affecting
", substitute "
made in relation to
".
15
27 Subsection 921N(1)
16
Omit "relevant provider", substitute "person (the
affected person
)".
17
28 Subsection 921N(3) (heading)
18
Omit "
relevant provider
", substitute "
affected person
".
19
29 Subsections 921N(3), (4), (5) and (6)
20
Omit "relevant provider" (wherever occurring), substitute "affected
21
person".
22
30 Subsection 921Q(1)
23
Repeal the subsection (not including the note), substitute:
24
(1) If a Financial Services and Credit Panel reasonably believes that:
25
(a) a person has contravened a restricted civil penalty provision;
26
and
27
(b) the person was a relevant provider at the time of the alleged
28
contravention;
29
Schedule 4
Minor and technical amendments
Part 4
Other amendments
40
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
No. , 2022
the panel may, by written notice given to ASIC, recommend that
1
ASIC make an application under subsection 1317J(1) in relation to
2
the alleged contravention.
3
31 Subsection 921Q(2)
4
Omit "relevant provider", substitute "person".
5
32 Subsection 1017BA(1)
6
Omit "5", substitute "7".
7
33 In the appropriate position in Chapter 10
8
Insert:
9
Part 10.67--Application provisions relating to
10
Schedule 4 to the Treasury Laws
11
Amendment (2022 Measures No. 1) Act
12
2022
13
14
1697 Application of amendment to obligation to make product
15
dashboard publicly available
16
Subsection 1017BA(1), as amended by Part 4 of Schedule 4 to the
17
Treasury Laws Amendment (2022 Measures No. 1) Act 2022
,
18
applies, on and after the day after that Act receives the Royal
19
Assent, in relation to a regulated superannuation fund that has 6 or
20
fewer members.
21
Minor and technical amendments
Schedule 4
Amendments of Acts in other portfolios to allow commutation of certain income
streams
Part 5
No. , 2022
Treasury Laws Amendment (2022 Measures No. 1) Bill 2022
41
Part 5--Amendments of Acts in other portfolios to
1
allow commutation of certain income
2
streams
3
Social Security Act 1991
4
34 After subparagraph 9B(2)(h)(ivb)
5
Insert:
6
(ivc) to the extent necessary in order to comply with
7
section 136-80 in Schedule 1 to the
Taxation
8
Administration Act 1953
; or
9
35 After subparagraph 9BA(2)(f)(vi)
10
Insert:
11
(via) to the extent necessary in order to comply with
12
section 136-80 in Schedule 1 to the
Taxation
13
Administration Act 1953
; or
14
Veterans' Entitlements Act 1986
15
36 After subparagraph 5JB(2)(h)(ivb)
16
Insert:
17
(ivc) to the extent necessary in order to comply with
18
section 136-80 in Schedule 1 to the
Taxation
19
Administration Act 1953
; or
20
37 After subparagraph 5JBA(2)(f)(vi)
21
Insert:
22
(via) to the extent necessary in order to comply with
23
section 136-80 in Schedule 1 to the
Taxation
24
Administration Act 1953
; or
25