Commonwealth Numbered Regulations

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION AMENDMENT REGULATIONS 2000 (NO. 1) 2000 NO. 10 - SCHEDULE 1

(regulation 3)

[1] Regulations 13 and 14

substitute

The objects of this Part are to ensure that Panel proceedings are:

(a)

as fair and reasonable; and

(b)

conducted with as little formality; and

(c)

conducted in as timely manner;

as the requirements of this Part and the relevant national scheme law, and a proper consideration of the matters before the Panel, permit.

This Part applies to Panel proceedings in addition to the requirements of a relevant national scheme law that applies to the proceedings.

[2] Regulation 15, definition of application

omit

section 733 or 734

insert

section 656A, 657C or 657EA

[3] Regulation 15, definition of brief

substitute

"brief", in relation to Panel proceedings, means the brief for the proceedings that is mentioned in paragraph 20 (b).

[4] Regulation 15, definition of decision

omit

[5] Regulation 15, definitions of inquiry and intervener

omit

[6] Regulation 15, definition of party

substitute

"party" means a party to Panel proceedings.

[7] Subregulation 16 (1)

omit

Subject to this Part, the

insert

In addition to any other provision of this Part, the

[8] Paragraph 16 (1) (a)

omit

at a joint inquiry

insert

in Panel proceedings

[9] Paragraph 16 (1) (b)

omit

an inquiry

insert

its proceedings

[10] Subparagraph 16 (1) (c) (ii)

omit

at an inquiry

insert

in Panel proceedings

[11] Paragraph 16 (1) (d)

substitute

(d)

give directions to parties to lodge with the Panel specified documents relating to Panel proceedings; and

[12] Paragraph 16 (1) (g)

substitute

(g)

invite a person who is not a party to make a submission in relation to Panel proceedings; and

[13] Paragraph 16 (1) (h)

omit

an inquiry

insert

Panel proceedings

[14] Paragraph 16 (1) (i)

omit

an inquiry

insert

Panel proceedings

[15] Paragraph 16 (1) (j)

omit

an inquiry

insert

Panel proceedings

[16] Subregulation 16 (2)

omit

an inquiry

insert

Panel proceedings

[17] Regulation 17

omit

[18] Regulation 19

substitute

An application to the Panel must be in the form approved by the Panel.

[19] Regulation 20

omit

by the Commission

[20] Paragraph 20 (a)

omit

to hold an inquiry

insert

to conduct proceedings

[21] Paragraph 20 (b)

omit

to hold an inquiry

insert

to conduct proceedings

[22] Subparagraph 20 (b) (i)

omit

inquiry

insert

Panel proceedings

[23] Subparagraphs 20 (b) (ii) and (iii)

substitute

(ii)

the issues to be addressed in submissions for the proceedings.

[24] Division 3, heading

substitute

[25] Subregulation 21 (1)

omit

an inquiry

insert

proceedings

[26] Paragraph 21 (1) (b)

omit

made by the Commission

[27] Subregulation 21 (2)

omit

an inquiry

insert

proceedings

[28] Paragraph 21 (2) (b)

substitute

(b)

notify the decision to each company and person to whom the relevant application relates; and

[29] Subregulation 22 (1)

omit

hold an inquiry, it must, within 5 business days

insert

conduct proceedings, it must,

[30] Paragraph 22 (1) (a)

omit

inquiry

insert

proceedings

[31] Subregulation 22 (2)

omit

hold an inquiry

insert

conduct proceedings

[32] Subregulation 22 (3)

omit everything before paragraph (a), insert

(3)

The Panel must:

[33] Subregulation 23 (1)

omit

hold an inquiry

insert

conduct proceedings

[34] Subregulation 23 (2)

omit

inquiry

insert

proceedings

[35] Subregulation 23 (3)

substitute

(3)

A notice may invite a person who is not a party to the proceedings to give, within a time allowed by the Panel, a written expression of interest in the proceedings:

(a)

stating the nature of the interest of the person in the proceedings; and

(b)

setting out the reasons why the Panel should consider a written submission of the person in relation to the proceedings.

[36] Subregulation 24 (2)

substitute

(2)

If the Panel decides to consider the written submission of a person in the proceedings, the Panel must give to the person a copy of the brief for the proceedings.

[37] Subregulation 24 (4)

omit

inquiry

insert

proceedings

[38] Regulation 25

substitute

A submission made by a person to proceedings of the Panel must:

(a)

be in the form approved by the Panel; and

(b)

if the Panel has given to the person a copy of the brief and invited the person to comment on an issue identified in the brief, address that issue.

[39] Paragraph 26 (1) (a)

substitute

(a)

is not in accordance with regulation 25; or

[40] Subregulation 26 (2)

omit

inquiry

insert

proceedings

[41] Subregulations 28 (1) and (2)

substitute

(1)

A submission for Panel proceedings must be lodged with the Panel within the time allowed by the Panel.

(2)

As soon as practicable after the Panel receives a submission, the Panel must give a copy of the submission to each party.

[42] Subregulation 28 (3)

omit

Subject to subregulation (4), a person

insert

A person

[43] Subregulation 28 (4)

omit

[44] Subregulation 28 (5)

omit

under subregulation (3)

[45] Regulation 29

omit

[46] Subregulations 30 (1), (2), (3) and (4)

substitute

(1)

At any time during Panel proceedings, the Panel may request a party to lodge with the Panel a submission that addresses a matter specified in the request.

(2)

The Panel may give a copy of the submission to each party.

[47] Subregulation 30 (5)

omit everything before paragraph (a), insert

(3)

The Panel may direct a person who receives a copy of a submission to lodge, at or before a time specified in writing by the Panel, with the Panel not more than 1 submission that:

[48] Regulations 31, 32 and 33

omit

[49] Regulation 34

omit

proceed with the inquiry

insert

continue with the proceedings

[50] Subregulation 35 (1)

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in an inquiry

insert

during Panel proceedings

[51] Paragraph 35 (1) (a)

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inquiry

insert

proceedings

[52] Subparagraph 35 (1) (b) (i)

omit

inquiry

insert

proceedings

[53] Paragraph 35 (1) (c)

omit

inquiry

insert

proceedings

[54] Subregulation 35 (2)

omit

an inquiry

insert

Panel proceedings

[55] Regulation 36

omit

[56] Subregulation 37 (1)

substitute

(1)

The President may convene a conference.

[57] Paragraph 37 (2) (b)

substitute

(b)

must give written notice of that time and place to each party.

[58] Subregulation 38 (1)

omit

, except a person who is entitled under subsection 194 (4) of the Act to attend a conference to assist another person,

[59] Paragraph 38 (4) (c)

omit

inquiry

insert

proceedings

[60] Subregulation 39 (2)

omit

subregulations (3) and (4)

insert

subregulation (3)

[61] Subregulations 39 (3) and (4)

substitute

(3)

If the Panel invites a person at a conference to address the Panel on a matter, the person may address the Panel on the matter at the conference.

[62] Regulation 41

omit

seriously

[63] Regulation 43

substitute

For the purposes of subsection 192 (6) of the Act (which provides for allowances and expenses to be paid in relation to Panel proceedings), a person who appears at Panel proceedings in response to a summons issued under section 192 of the Act is entitled to be paid allowances and expenses in accordance with Schedule 2.