Document ID: chunk:federal_register_of_legislation:C2004A04707:front:0:p2
Version: federal_register_of_legislation:C2004A04707
Segment Type: other
Provision Reference: 
Character Range: 2650–5851

THE CORPORATIONS LAW

Corporations Law

  3. In this Part:

"Corporations Law" means the Corporations Law set out in section 82 of the Corporations Act 19891.

Schedule 1—amendments relating to enhanced disclosure

  4. Schedule 1 amends the Corporations Law to:

     (a) enhance the level of information available about certain securities; and

     (b) in relation to certain quoted securities, provide for less comprehensive prospectus requirements than apply in relation to other securities; and

  (c) make consequential changes.

Schedule 2—amendments relating to fundraising

  5. Schedule 2 amends the Corporations Law to:

     (a) change the requirements for secondary trading in securities by removing the requirement for a prospectus and replacing it with a requirement for a notice; and

     (b) change the law about supplementary prospectuses and provide for replacement prospectuses; and

     (c) change the law about incorporating documents by reference in prospectuses; and

     (d) make consequential or miscellaneous changes to the law relating to fundraising.

   Note: Schedule 1 also includes amendments of some fundraising provisions—see items 93 and 94 of that Schedule.

Schedule 3—amendments relating to indemnifying or insuring an officer or auditor of a company

6. Schedule 3 amends the Corporations Law to change the law about indemnifying or insuring an officer or auditor of a company, in particular, by expanding the circumstances in which indemnification or insurance is allowed.

Schedule 4—amendment relating to use, in court proceedings, of information from Commission's national database

7. Schedule 4 amends the Corporations Law to facilitate the use, as evidence in court proceedings, of information in the national companies database kept by the Australian Securities Commission.

Schedule 5—amendment relating to application of changes made by this Act

8. Schedule 5 amends the Corporations Law to deal with the application of the other amendments of the Corporations Law made by this Act.

PART 3—AMENDMENTS OF THE AUSTRALIAN SECURITIES
COMMISSION ACT 1989

Schedule 6—amendments relating to disclosure of information and advice about operation of certain provisions

9. Schedule 6 amends the Australian Securities Commission Act 19892 to:

     (a) provide for the disclosure of information, by the Australian Securities Commission, to bodies that conduct stock markets, futures markets or clearing houses; and

     (b) require the Minister to request the advice of the Companies and Securities Advisory Committee about how effectively certain provisions are operating.

                         SCHEDULE 1 Section 4

AMENDMENTS OF THE CORPORATIONS LAW RELATING TO
ENHANCED DISCLOSURE

PART 1—GENERAL

1. Section 9 (definition of "board"):

  Omit "body corporate" (wherever occurring), substitute "body".

2. Section 9 (paragraph (b) of the definition of "class"):

  Insert "or prescribed interests" after "shares".

3. Section 9 (paragraph (a) of the definition of "company"):

Omit "the definition of 'financial year' and sections", substitute "sections 70A,".

4. Section 9 (definition of "consolidated accounts"):

  Omit "company" (wherever