Commonwealth Numbered Regulations - Explanatory Statements

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CORPORATIONS REGULATIONS (AMENDMENT) 1998 NO. 128

STATUTORY RULES 1998 No. 128

Issued by the Authority of the Treasurer

Corporations Act 1989

Corporations Regulations (Amendment)

Section 22 of the Corporations Act 1989 (the Act) empowers the Governor-General to make regulations, not inconsistent with the Act or the Corporations Law, prescribing, inter alia, matters which are required by the Corporations Law to be prescribed by regulations, or necessary or convenient to be prescribed by regulations for carrying out or giving effect to the Corporations Law.

Section 9 of the Corporations Law defines an "authorised trustee corporation" as a body corporate declared in the regulations to be an authorised trustee corporation. Regulation 7.1.01 of the Corporations Regulations provides that a body corporate listed in Schedule 9 of the Corporations Regulations is an authorised trustee corporation.

The purpose of the regulations is to amend Schedule 9 by adding Inteq Custodians Ltd to the list of authorised trustee corporations.

Details of the regulations are as follows:

Regulation 1

Regulation 1 provides that the Regulations commence on gazettal.

Regulation 2

Regulation 2 provides that the Corporations Regulations are amended as set out in these regulations.

Regulation 3

Subregulation 3.1 inserts "Inteq Custodians Limited" in Schedule 9 of the Corporations Regulations.