EXPLANATORY STATEMENT

 

 

Select Legislative Instrument 2006 No. 204

 

 

Issued by the authority of the

Judges of the Federal Court of Australia

 

 

Federal Court (Corporations) Amendment Rules 2006 (No 1)

 

 

Section 59 of the Federal Court of Australia Act 1976 permits the Judges of the Court or a majority of them, to make rules of Court not inconsistent with the Act. These rules may provide for the practice and procedure to be followed in the Court and in Registries of the Court. They may extend to all matters incidental to any such practice or procedure that are necessary or convenient to be prescribed for the conduct of any business of the Court.

 

Under sub-section 59 (4) of the Federal Court of Australia Act 1976, the Legislative Instruments Act 2003 (other than sections 5, 6, 7, 10, 11 and 16 of that Act) applies in relation to rules of court made by the Court under the Federal Court of Australia Act 1976 or another Act:

(a)           as if a reference to a legislative instrument were a reference to a rule of court; and

(b)          as if a reference to a rule-maker were a reference to the Chief Justice acting on behalf of the Judges of the Court; and

(c)           subject to such further modifications or adaptations as are provided for in regulations made under section 59A of the Federal Court of Australia Act 1976.

 

The Federal Court (Corporations) Rules 2000 apply to a proceeding in the Court under the Corporations Act 2001 or the Australian Securities and Investments Commission Act 2001 commenced on or after 1 January 2000.

 

The Judges have agreed to amend the Federal Court (Corporations) Rules 2000 by inserting items 21A and 61A in Schedule 2. Schedule 2 sets out the powers of the Court that may be delegated to a Registrar.

 

The amendments have been the subject of consultation with the Law Council of Australia.

 

Details of the Rules are in the Attachment.

 

The Rules commence on the day after they are registered.

ATTACHMENT

 

Federal Court (Corporations) Amendment Rules 2006 (No 1)

 

RULE 1            Name of rules

 

This rule provides that the Rules are to be cited as the Federal Court (Corporations) Amendment Rules 2006 (No 1).

 

RULE 2            Commencement

 

This rule provides that these Rules commence on the day after they are registered.

 

RULE 3            Amendment of Federal Court (Corporations) Rules 2000

 

This rule provides that the Federal Court (Corporations) Rules 2000 are amended as set out in Schedule 1.

 

SCHEDULE 1 

 

[1]       Schedule 2, Part 1, after item 21

 

This amendment inserts a new item 21A after item 21. Item 21A provides that a Registrar of the Court may be delegated the power under subsection 439A (6) of the Corporations Act to extend the convening period fixed by subsection 439A (5).

 

[2]       Schedule 2, Part 1, after item 61

 

This amendment inserts a new item 61A after item 61. Item 61A provides that a Registrar of the Court may be delegated the power under section 482 of the Corporations Act to make an order to stay the winding up of a company either indefinitely or for a limited time, or to terminate the winding up of a company on a day specified in the order.