Commonwealth Numbered Regulations Commonwealth Numbered Regulations
Australian Securities and Investments Commission Regulations 2001
1 Paragraph 2AC(c)
Repeal the paragraph, substitute:
(c) Institute of Public Accountants.
2 Paragraph 8AA(c)
Repeal the paragraph, substitute:
(c) Institute of Public Accountants.
3 Part 6
Repeal the Part.
4 Form 4 of Schedule 1
Repeal the form.
Business Names Registration (Fees) Regulations 2011
5 Item 1 of Schedule 1
Omit "$30", substitute "$32".
6 Item 2 of Schedule 1
Omit "$30", substitute "$32".
7 Item 3 of Schedule 1
Omit "$70", substitute "$74".
8 Item 4 of Schedule 1
Omit "$70", substitute "$74".
Corporations (Aboriginal and Torres Strait Islander) Regulations 2007
9 Paragraph 604-25.01(6)(c)
Repeal the paragraph, substitute:
(c) the Institute of Public Accountants;
Corporations (Fees) Regulations 2001
10 Item 53 of the table in Schedule 1 (including the heading)
Repeal the item.
11 Subregulation 2M.3.03(1) (at the end of the table)
Add:
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Remuneration disclosure |
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17 |
For any option or right over equity instruments issued or issuable by the disclosing entity and any of its subsidiaries held, whether directly, indirectly or beneficially, by each key management person, or by a close member of the family of that person, or an entity over which the person or the family member has, either directly or indirectly, control, joint control or significant influence, disclosure must be made of the number of rights and options |
(a) Options and rights held at the start of the reporting period (b) Options and rights granted during the reporting period as compensation (c) Options and rights exercised during the reporting period (d) Options and rights resulting from any other change during the reporting period (e) Options and rights held at the end of the reporting period (f) Options and rights vested at the end of the reporting period (g) Options and rights vested and exercisable at the end of the reporting period (h) Options and rights vested and unexercisable at the end of the reporting period |
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18 |
For any equity instrument (other than an option or a right) held directly, indirectly or beneficially, by each key management person, or by a close member of the family of that person, or an entity over which the person or the family member has, either directly or indirectly, control, joint control or significant influence, disclosure must be made of the number of equity instruments |
(a) Equity instruments held at the start of the reporting period (b) Equity instruments granted during the reporting period as compensation (c) Equity instruments received during the reporting period on the exercise of an option or right (d) Equity instruments resulting from any other change during the reporting period (e) Equity instruments held at the end of the reporting period (f) Equity instruments if included in the number disclosed under paragraph (e), held nominally at the end of the reporting period |
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19 |
For a transaction involving an equity instrument, other than share-based payment compensation, that has occurred between a key management person, a close member of the family of that person, or an entity over which the person or the family member has, either directly or indirectly, control, joint control or significant influence and the issuing entity during the reporting period, if the terms or conditions of the transaction were more favourable than those that it is reasonable to expect the entity would have adopted if dealing at arms-length with an unrelated person |
(a) The nature of each different type of transaction (b) For each transaction, the terms and conditions of the transaction |
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20 |
For the aggregate of loans made, guaranteed or secured, directly or indirectly, by the disclosing entity and any of its subsidiaries, in the reporting period in relation to: (a) all key management personnel; and (b) close members of the family of a member of the key management personnel; and (c) an entity over which any of the persons mentioned in paragraphs (a) and (b) have, directly or indirectly, control, joint control or significant influence |
(a) The amount outstanding at the start of the reporting period (b) The amount of interest paid and payable in the reporting period to the disclosing entity or to any of the entity's subsidiaries (c) The difference between the amount disclosed under paragraph (b) and the amount of interest that would have been charged on an arms-length basis (d) Each write-down and each allowance for doubtful receivables recognised by the disclosing entity or by any of the entity's subsidiaries (e) The amount outstanding at the end of the reporting period (f) The number of key management personnel included in the group aggregate at the end of the reporting period (g) A summary of the terms and conditions of the loans |
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21 |
If the aggregate of loans made, guaranteed or secured, directly or indirectly, by the disclosing entity and any of its subsidiaries, in the reporting period in relation to: (a) a particular key management person; and (b) close members of the family of the key management person; and (c) an entity over which any of the persons mentioned in paragraphs (a) and (b) has, directly or indirectly, control, joint control or significant influence; is greater than $100 000 |
(a) The amount outstanding at the start of the reporting period (b) The amount of interest paid and payable in the reporting period to the disclosing entity or to any of the entity's subsidiaries (c) The difference between the amount disclosed under paragraph (b) and the amount of interest that would have been charged on an arms-length basis (d) Each write-down and each allowance for doubtful receivables recognised by the disclosing entity or by any of the entity's subsidiaries (e) The amount outstanding at the end of the reporting period (f) The highest amount of the key management person's indebtedness during the reporting period (g) A summary of the terms and conditions of the loans |
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22 |
For a transaction during the reporting period between the disclosing entity, or any of its subsidiaries, and a key management person, a close member of the family of that person, or an entity over which the key management person or the family member has, directly or indirectly, control, joint control or significant influence, other than a transaction mentioned in item 19, 20 or 21 or subregulation (3B) |
(a) Each type of transaction of a different nature (b) The terms and conditions of each type of transaction or, if there are different categories of terms and conditions within a type of transaction, the terms and conditions of each category of transaction (c) For each type of transaction or, if there are different categories of terms and conditions within a type of transaction, for each category of transaction: (i) the names of the persons involved in the transaction; and (ii) the aggregate amount recognised |
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23 |
For each aggregate amount disclosed under item 22 |
(a) The total of amounts recognised as revenue, separately identifying, if applicable, the total amounts recognised as: (i) interest revenue; or (ii) dividend revenue (b) The total of amounts recognised as expense, separately identifying, if applicable, the total amounts recognised as: (i) interest expense; or (ii) write-downs of receivables and allowances made for doubtful receivables (c) Any further disclosures necessary to provide an understanding of the effects of the transactions on the financial statements prepared in accordance with Australian Accounting Standards |
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24 |
For each transaction identified under item 22 |
(a) The total of all assets, classified into current and non-current assets, and, if applicable, any allowance for doubtful receivables at the end of the reporting period (b) The total of all liabilities, classified into current and non-current liabilities |
12 After subregulation 2M.3.03(3)
Insert:
(3A) For items 20 and 21 of the table in subregulation (1), loans do not include loans involved in transactions in relation to options.
Example: A non-recourse loan is a loan that is a transaction in relation to an option.
(3B) A transaction with, or an amount that is receivable from or payable under a transaction to, a key management person, a close member of the family of that person, or an entity over which the person or the family member has, directly or indirectly, control, joint control or significant influence, is excluded from the requirements of items 22 to 24 if:
(a) the transaction occurs within a normal employee, customer or supplier relationship on terms and conditions no more favourable than those that it is reasonable to expect the entity would have adopted if dealing at arms-length with an unrelated person; or
(b) information about the transaction does not have the potential to affect adversely decisions about the allocation of scarce resources made by users of the financial statements, or the discharge of accountability by the key management person; or
(c) the transaction is trivial or domestic in nature.
13 Division 9 of Part 2M.3
Repeal the Division.
14 Subregulation 7.1.29A(2) (paragraph (c) of the definition of recognised accountant )
Repeal the paragraph, substitute:
(c) a member of the Institute of Public Accountants ( IPA ) who:
(i) is entitled to use the letters "MIPA" or "FIPA"; and
(ii) is subject to, and complies with, the IPA's continuing professional education requirements.
15 Schedule 1, table
Omit:
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Chapter 2M Financial reports and audit |
16 Schedule 1 (table, items 5 to 7)
Repeal the items.
17 Schedule 2 (forms 2M01, 2M02 and 2M03)
Repeal the forms.
Fair Work (Registered Organisations) Regulations 2009
18 Subregulation 4(1)
Omit "National Institute of Accountants" (wherever occurring), substitute "Institute of Public Accountants".
Occupational Superannuation Standards Regulations
19 Regulation 1
Repeal the regulation, substitute:
These Regulations are the Occupational Superannuation Standards Regulations 1987 .
20 Subparagraph 4(1)(b)(i)
Omit "National Institute of Accountants", substitute "Institute of Public Accountants".
Statutory Declarations Regulations 1993
21 Item 225 of Schedule 2
Omit "National Institute of Accountants", substitute "Institute of Public Accountants".
Superannuation Industry (Supervision) Regulations 1994
22 Item 3 of Schedule 1AAA
Repeal the item, substitute:
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3. |
Institute of Public Accountants |
Member or Fellow |