Commonwealth Numbered Acts

CORPORATE LAW ECONOMIC REFORM PROGRAM ACT 1999 - NOTES

Contents

Part 1—Amendments relating to new Chapter 6D (Fundraising) 358 Part 2—Amendments relating to new Chapter 2L (Debentures) 371 Part 3—Amendments relating to new Chapter 2D (Officers) 379 Part 4—Amendments relating to new Chapter 2E (Related Parties) 392 Part 5—Amendments relating to new Part 2F.1 (Oppressive conduct of affairs) 398 Part 6—Amendments relating to new Part 2F.1A (Proceedings on behalf of a company by members and others) 400 Part 7—Amendments relating to new Part 9.4B (Civil penalty provisions) 402 Part 8—Amendments relating to new Part 12 of the ASIC Act (Accounting standards) 409 Part 9—Amendments relating to new Chapters 6 to 6C (Takeovers) 410

Part 1—Amendments relating to new Chapter 6D (Fundraising) 435 Part 2—Amendments relating to new Chapter 2F.1 (Oppression) 436 Part 3—Amendments relating to new accounting standards provisions in ASIC Act 437 Part 4—Amendments relating to new Chapter 6 (Takeovers) 439

Air Navigation Act 1920 445 Commonwealth Authorities and Companies Act 1997 445 Commonwealth Serum Laboratories Act 1961 475 Corporations Act 1989 475 Income Tax Assessment Act 1997 476 Life Insurance Act 1995 476 Qantas Sale Act 1992 477

Australian Securities and Investments Commission Act 1989 483 Financial Sector Reform (Consequential Amendments) Act 1998 489

Company Law Review Act 1998 493 Managed Investments Act 1998 493

Aboriginal and Torres Strait Islander Commission Act 1989 494 Agricultural and Veterinary Chemicals (Administration) Act 1992 495 Australia Council Act 1975 495 Australia New Zealand Food Authority Act 1991 495 Australian Broadcasting Corporation Act 1983 496 Australian Communications Authority Act 1997 496 Australian Film Commission Act 1975 496 Australian Film, Television and Radio School Act 1973 496 Australian Heritage Commission Act 1975 497 Australian Horticultural Corporation Act 1987 497 Australian Institute of Aboriginal and Torres Strait Islander Studies Act 1989 497 Australian Institute of Health and Welfare Act 1987 498 Australian Institute of Marine Science Act 1972 498 Australian Law Reform Commission Act 1996 498 Australian Maritime Safety Authority Act 1990 498 Australian National Maritime Museum Act 1990 498 Australian National University Act 1991 499 Australian Nuclear Science and Technology Organisation Act 1987 499 Australian Postal Corporation Act 1989 499 Australian Prudential Regulation Authority Act 1998 500 Australian Securities and Investments Commission Act 1989 500 Australian Sports Commission Act 1989 500 Australian Tourist Commission Act 1987 500 Australian Trade Commission Act 1985 501 Australian War Memorial Act 1980 501 Australian Wine and Brandy Corporation Act 1980 501 Australian Wool Research and Promotion Organisation Act 1993 501 Broadcasting Services Act 1992 502 Civil Aviation Act 1988 502 Coal Mining Industry (Long Service Leave Funding) Act 1992 502 Dairy Produce Act 1986 502 Defence Housing Authority Act 1987 503 Employment Services Act 1994 503 Export Finance and Insurance Corporation Act 1991 503 Family Law Act 1975 503 Fisheries Administration Act 1991 503 Great Barrier Reef Marine Park Act 1975 504 Health Insurance Commission Act 1973 504 Hearing Services Act 1991 504 Horticultural Research and Development Corporation Act 1987 504 Maritime College Act 1978 505 National Gallery Act 1975 505 National Health Act 1953 505 National Library Act 1960 505 National Measurement Act 1960 506 National Museum of Australia Act 1980 506 National Occupational Health and Safety Commission Act 1985 506 National Parks and Wildlife Conservation Act 1975 506 Pig Industry Act 1986 506 Primary Industries and Energy Research and Development Act 1989 507 Reserve Bank Act 1959 507 Safety, Rehabilitation and Compensation Act 1988 507 Science and Industry Research Act 1949 507 Snowy Mountains Hydro-electric Power Act 1949 508 Special Broadcasting Service Act 1991 508 Wheat Marketing Act 1989 508

Acts Interpretation Act 1901 511 Administrative Appeals Tribunal Act 1975 511 Australian Securities and Investments Commission Act 1989 511 Corporations Act 1989 512 Evidence Act 1995 512 Financial Transaction Reports Act 1988 513 Acts Interpretation Act 1901 513 Australian Securities and Investments Commission Act 1989 513 Corporations Act 1989 513

Corporate Law Economic Reform Program Act 1999 No. 156, 1999

An Act to amend the Corporations Law and the Australian Securities and Investments Commission Act 1989, and for related purposes

[Assented to 24 November 1999] The Parliament of Australia enacts:

Note

[Minister’s second reading speech made in—

Senate on 21 June 1999]