1978 Agreement between Commonwealth and States for a co-operative regime for companies and securities legislation. National Price and Accumulation Indices replaced Sydney and Melbourne Indices. 1982 Companies legislation based on co-operation between Commonwealth and state governments became effective. 1984 Deregulation of stock exchange membership and abolition of the fixed scale of commission. 1986 Futures Industry Act and Codes of 1986 commence comprehensive regulation of futures.
Northern Territory becomes participant in co-operative regime and there is uniform law.
October stock market downturn. Senate Standing Committee on Constitutional and Legal Affairs concludes that Co-Operative Scheme should be replaced by comprehensive national legislation and that a single agency to administer it should be established. 1989 Enactment of Corporations Act as a national law without the need for State co-operation. Accompanied by Australian Securities Commission Act. Formation of ASX Surveillance Unit.