Commonwealth Numbered Regulations - Explanatory Statements

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FEDERAL COURT (CORPORATIONS) AMENDMENT RULES 2007 (NO. 2) (SLI NO 345 OF 2007)

EXPLANATORY STATEMENT

 

 

Select Legislative Instrument 2007 No. 345

 

Issued by the authority of the

Judges of the Federal Court of Australia

 

Federal Court (Corporations) Amendment Rules 2007 (No 2)

 

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 amending rule 1.4 and forms 1, 9, 10, 11, 12, 15 and 16 in Schedule 1 and inserting a new item in Part 1 of Schedule 2.

 

The amendments have been the subject of consultation with the Law Council of Australia and give effect to recommendations by the Council of Chief Justices’ Harmonised Corporations Rules Monitoring Committee.

 

Details of the Rules are in the Attachment.

 

The Rules commence on the day after they are registered.


Federal Court (Corporations) Amendment Rules 2007 (No 2)

 

RULE 1 Name of rules

 

This rule provides that the Rules are to be cited as the Federal Court (Corporations) Amendment Rules 2007 (No 2).

 

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] Rule 1.4, note

[2] Schedule 1, Form 1

[3] Schedule 1, Forms 9, 10, 11, 12, 15 and 16

 

These amendments insert a reference to the ‘ABN’ in the note to rule 1.4 (which refers to expressions defined in the Corporations Act 2001) and in forms 1, 9, 10, 11, 12, 15 and 16.

 

The amendment is consequential upon amendments to the Corporations Regulation 2001 which allow an entity to quote its ABN (‘Australian Business Number’) instead of the entity’s ACN or ARBN on public documents and negotiable instruments.

 

[4] Schedule 2, Part 1

 

This amendment inserts a new item, 97B, after item 97A in Schedule 2. Schedule 2 sets out the powers of the Court that may be exercised by a Registrar pursuant to a direction by the Court or a Judge under section 35A of the Federal Court of Australia Act 1976 (Cth).

 

Item 97B refers to the power of the Court under subsection 601AH(3) of the Corporations Act 2001 to validate anything done between the deregistration of the company and its reinstatement and make any other order that the Court considers appropriate.


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