Commonwealth: Corporations (Fees) Act 2001 (Cth)

Corporations (Fees) Act 2001 No. 52, 2001 Compilation No. 14 Compilation date: 20 October 2023 Includes amendments up to: Act No. 76, 2023 Registered: 9 November 2023 About this compilation This compilation This is a compilation of the Corporations (Fees) Act 2001 that shows the text of the law as amended and in force on 20 October 2023 (the compilation date). The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law. Uncommenced amendments The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law. Application, saving and transitional provisions for provisions and amendments If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes. Editorial changes For more information about any editorial changes made in this compilation, see the endnotes. Modifications If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law. Self‑repealing provisions If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes. Contents 1 Short title 2 Commencement 3 Application to the Crown 4 Definitions 5 Imposition of fees for chargeable matters 5A Differential fees 6 Matters relating to amount of fees 7 Who is liable to pay the fee for a chargeable matter, and time liability is incurred 8 Regulations 9 Transitional matters Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history An Act to impose, as taxes, fees for chargeable matters, and for related matters 1 Short title This Act may be cited as the Corporations (Fees) Act 2001. 2 Commencement This Act commences at the same time as the Corporations Act 2001. 3 Application to the Crown If the Crown, in a capacity, is bound by the provision or provisions of an Act under which a chargeable matter arises or to which a chargeable matter relates, then the Crown, in that capacity, is bound by this Act in respect of that chargeable matter. 4 Definitions (1) In this Act: chargeable matter means any of the following: (a) the lodgment of a document under the Corporations Act 2001; (b) the registration of a document under that Act; (c) the inspection or search of a register kept by, or a document in the custody of, ASIC under that Act; (d) the making available by ASIC, under that Act, of information (whether in the form of a document or otherwise); (e) the production by ASIC, under a subpoena, of such a register or document; (f) the issuing of a document or of a copy of a document, the granting of a licence, consent or approval, or the doing of any other act, under that Act, by the Minister or ASIC; (g) the making of an inquiry of, or an application to, the Minister, or ASIC, in relation to a matter arising under that Act; (h) the submission to ASIC of a document for examination by ASIC; (i) the making of an application under that Act to the Panel; (j) the doing of any act by the Panel in dealing with an application under that Act to the Panel; (k) the performance by ASIC of: (i) functions conferred on ASIC by the listing rules of a market as required by subsection 798C(4); and (ii) any other functions conferred on ASIC by arrangements entered into under subsection 798C(2); and (iii) functions conferred on ASIC by the operating rules of a market as required by subsection 798DA(2) of the Corporations Act 2001; (l) the performance by ASIC of functions provided for in regulations as mentioned in paragraph 798E(2)(b) of the Corporations Act 2001; (m) the lodgment of a document under paragraph 17G(c) of the Insurance Act 1973 or paragraph 195(c) of the Life Insurance Act 1995; (n) the making of an application to ASIC for an exemption or declaration, or a variation or revocation of an exemption or declaration, under Part 29 of the Superannuation Industry (Supervision) Act 1993; (o) the making of an application to ASIC for an exemption, or a variation or revocation of an exemption, under subsection 12DY(1) of the Australian Securities and Investments Commission Act 2001. old Corporations Law, in relation to a State or Territory, has the same meaning as it has in Part 10.1 of the Corporations Act 2001. (2) Subject to this Act, Part 1.2 (Interpretation) of the Corporations Act 2001 applies for the purposes of this Act as if the provisions of this Act were provisions of that Act. Note: Part 1.2 of the Corporations Act 2001 includes the Dictionary in section 9 of that Act, so the definitions in that section apply for the purposes of this Act unless this Act otherwise provides. 5 Imposition of fees for chargeable matters (1) Subject to section 6, the regulations may prescribe fees for chargeable matters. (2) The fees prescribed by the regulations for chargeable matters are imposed, and are so imposed as taxes. (3) 2 or more fees may be prescribed for the same chargeable matter. 5A Differential fees (1) The regulations may prescribe, in relation to a chargeable matter, different fees having regard to whether the matter is complied with by electronic means. (2) The regulations may prescribe, in relation to a chargeable matter, different fees having regard to whether the matter is of low, medium or high complexity. (3) The regulations may prescribe, in relation to a chargeable matter, different fees having regard to any matter relating to the person by whom the fee for the matter is payable. (4) ASIC may, by legislative instrument, make a determination specifying criteria for whether a chargeable matter is of low, medium or high complexity for the purposes of subsection (2). (5) However, if no such determination is in operation, the fee for a chargeable matter is the fee prescribed by the regulations for the chargeable matter of low complexity. 6 Matters relating to amount of fees (1) The regulations may prescribe a fee for a chargeable matter: (a) by specifying an amount (not exceeding $200,000) as the fee; or (b) by specifying a method for calculating the amount of the fee. Note: The limitation in paragraph (a) applies separately to each fee imposed if more than one fee is prescribed for the same chargeable matter (see subsection 5(3)). (2) The fee for a chargeable matter need not bear any relationship to the cost of providing any service that forms part of, or is related to, that matter. (3) The fee, or the sum of the fees, for a chargeable matter must not exceed $300,000, except for a chargeable matter referred to in paragraph (k) or (l) of the definition of chargeable matter in subsection 4(1). (4) The fee, or the total of the fees, for chargeable matters referred to in paragraph (k) of the definition of that term in subsection 4(1) that relate to a particular market licensee must not exceed $300,000 in respect of each period of 12 months during which ASIC performs functions referred to in that paragraph in relation to that market licensee. (5) The fee, or the total of the fees, for chargeable matters referred to in paragraph (l) of the definition of that term in subsection 4(1) that relate to a particular market licensee and a particular conflict, or potential conflict, of a kind referred to in subsection 798E(1) of the Corporations Act 2001, must not exceed $300,000 in respect of each period of 12 months during which ASIC performs functions referred to in that paragraph in relation to that market licensee and that conflict or potential conflict. 7 Who is liable to pay the fee for a chargeable matter, and time liability is incurred (1) The person by whom a fee for a chargeable matter is payable, and the time at which they incur that liability, are as follows: (a) for a chargeable matter referred to in paragraph (a) of the definition of chargeable matter in subsection 4(1): (i) person liable—the person who lodges the document; and (ii) time liability incurred—when the document is lodged; (b) for a chargeable matter referred to in paragraph (b) of that definition: (i) person liable—the person who requests registration of the document, or if there is no request, the person who lodges the document that is registered; and (ii) time liability incurred—when the request for registration is made, or if there is no request, when the document is lodged; (c) for a chargeable matter referred to in paragraph (c) of that definition: (i) person liable—the person who requests the inspection or search; and (ii) time liability incurred—when the request is made; (d) for a chargeable matter referred to in paragraph (d) of that definition: (i) person liable—the person who requests the information; and (ii) time liability incurred—when the request is made; (e) for a chargeable matter referred to in paragraph (e) of that definition: (i) person liable—the person who filed the subpoena; and (ii) time liability incurred—when the subpoena is served on ASIC; (f) for a chargeable matter referred to in paragraph (f) of that definition: (i) person liable—the person who requests the issue of the document (or copy), the grant of the licence, consent or approval, or the doing of the other act, or, if there is no such request, the person for whose benefit the act is done; and (ii) time liability incurred—when the request is made, or if there is no request, when the act is done; (g) for a chargeable matter referred to in paragraph (g) of that definition: (i) person liable—the person who makes the inquiry or application; and (ii) time liability incurred—when the inquiry or application is made; (h) for a chargeable matter referred to in paragraph (h) of that definition: (i) person liable—the person who submits the document; and (ii) time liability incurred—when the document is submitted; (i) for a chargeable matter referred to in paragraph (i) of that definition: (i) person liable—the person who makes the application; and (ii) time liability incurred—when the application is made; (j) for a chargeable matter referred to in paragraph (j) of that definition: (i) person liable—such party or parties to the proceedings before the Panel as the Panel determines (in accordance with subsection (2)) is or are to pay the fee; and (ii) time liability incurred—when the Panel makes that determination; (k) for a chargeable matter referred to in paragraph (k) of that definition: (i) person liable—the market licensee affected; and (ii) time liability incurred—the time or times determined in accordance with the regulations; (l) for a chargeable matter referred to in paragraph (l) of that definition: (i) person liable—the market licensee affected; and (ii) time liability incurred—the time or times determined in accordance with the regulations; (m) for a chargeable matter referred to in paragraph (m) of that definition: (i) person liable—the person who lodges the document; and (ii) time liability incurred—when the document is lodged; (n) for a chargeable matter referred to in paragraph (n) of that definition: (i) person liable—the person who makes the application; and (ii) time liability incurred—when the application is made; (o) for a chargeable matter referred to in paragraph (o) of that definition: (i) person liable—the person who makes the application; and (ii) time liability incurred—when the application is made. (2) A determination by the Panel for the purposes of subparagraph (1)(j)(i) must be made in accordance with rules made by the Panel in writing for the purposes of that subparagraph. 8 Regulations The Governor‑General may make regulations for the purposes of sections 5, 5A, 6 and 7. 9 Transitional matters (1) Regulations referred to in paragraph 1351(a) of the old Corporations Law of a State or Territory in this jurisdiction that were in force immediately before the commencement of this Act continue to have effect, and may be amended or repealed, as if they were made under section 8 of this Act for the purposes of sections 5 and 6 of this Act. (2) If, immediately before the commencement of this Act, a fee was payable by a person to the Commonwealth in respect of a matter under section 1351 of the old Corporations Law of a State or Territory in this jurisdiction, a liability to pay the same amount, in respect of the same matter, to the Commonwealth is imposed on the person by this subsection on the commencement of this Act, and is so imposed as a tax. Note: The definition of chargeable matter in section 9 of the old Corporations Law contains a list of matters that corresponds to the list in the definition of chargeable matter in subsection 4(1) of this Act. Endnotes Endnote 1—About the endnotes The endnotes provide information about this compilation and the compiled law. The following endnotes are included in every compilation: Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Abbreviation key—Endnote 2 The abbreviation key sets out abbreviations that may be used in the endnotes. Legislation history and amendment history—Endnotes 3 and 4 Amending laws are annotated in the legislation history and amendment history. The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation. The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law. Editorial changes The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date. If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel. Misdescribed amendments A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003. If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history. Endnote 2—Abbreviation key ad = added or inserted o = order(s) am = amended Ord = Ordinance amdt = amendment orig = original c = clause(s) par = paragraph(s)/subparagraph(s) C[x] = Compilation No. x /sub‑subparagraph(s) Ch = Chapter(s) pres = present def = definition(s) prev = previous Dict = Dictionary (prev…) = previously disallowed = disallowed by Parliament Pt = Part(s) Div = Division(s) r = regulation(s)/rule(s) ed = editorial change reloc = relocated exp = expires/expired or ceases/ceased to have renum = renumbered effect rep = repealed F = Federal Register of Legislation rs = repealed and substituted gaz = gazette s = section(s)/subsection(s) LA = Legislation Act 2003 Sch = Schedule(s) LIA = Legislative Instruments Act 2003 Sdiv = Subdivision(s) (md) = misdescribed amendment can be given SLI = Select Legislative Instrument effect SR = Statutory Rules (md not incorp) = misdescribed amendment Sub‑Ch = Sub‑Chapter(s) cannot be given effect SubPt = Subpart(s) mod = modified/modification underlining = whole or part not No. = Number(s) commenced or to be commenced Endnote 3—Legislation history Act Number and year Assent Commencement Application, saving and transitional provisions Corporations (Fees) Act 2001 52, 2001 28 June 2001 15 July 2001 (s 2) Corporations (Fees) Amendment Act 2001 107, 2001 17 Sept 2001 11 Mar 2002 (s 2) — Corporations (Fees) Amendment Act 2003 22, 2003 11 Apr 2003 1 July 2003 (s 2) — Corporations (Fees) Amendment Act (No. 1) 2004 98, 2004 29 June 2004 1 July 2004 (s 2) — Corporations (Fees) Amendment Act 2007 102, 2007 28 June 2007 Sch 1: 28 June 2007 (s 2(1) item 2) — Corporations (Fees) Amendment Act 2010 27, 2010 25 Mar 2010 Sch 1: 1 Aug 2010 (s 2(1) item 2) — Corporations (Fees) Amendment Act 2011 144, 2011 29 Nov 2011 Sch 1: 1 Jan 2012 (s 2(1) item 2) — Corporations Legislation Amendment (Financial Reporting Panel) Act 2012 118, 2012 12 Sept 2012 Sch 1 (item 7): 1 Oct 2012 (s 2(1) item 2) — ASIC Supervisory Cost Recovery Levy (Consequential Amendments) Act 2017 45, 2017 19 June 2017 Sch 1 (items 20–27, 29): 1 July 2017 (s 2(1) item 1) Sch 1 (item 29) Corporations (Fees) Amendment (ASIC Fees) Act 2018 55, 2018 28 June 2018 29 June 2018 (s 2(1) item 1) — Corporations (Fees) Amendment (Registries Modernisation) Act 2020 67, 2020 22 June 2020 Awaiting commencement (s 2(1) item 2) — as amended by Treasury Laws Amendment (2022 Measures No. 1) Act 2022 35, 2022 9 Aug 2022 Sch 4 (Pt 1, item 2): 21 June 2022 (s 2(1) item 5) — Corporations (Fees) Amendment (Hayne Royal Commission Response) Act 2020 137, 2020 17 Dec 2020 5 Oct 2021 (s 2(1) item 1) — Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 76, 2023 20 Sept 2023 Sch 2 (item 637): 20 Oct 2023 (s 2(1) item 2) — Endnote 4—Amendment history Provision affected How affected Title.................... am No 55, 2018 s 3..................... am No 55, 2018 s 4..................... am No 107, 2001; No 98, 2004; No 102, 2007; No 27, 2010; No 144, 2011; No 118, 2012; No 45, 2017; No 55, 2018; No 67, 2020; No 137, 2020; No 76, 2023 s 5..................... am No 27, 2010; No 45, 2017 s 5A.................... ad No 22, 2003 am No 55, 2018 s 6..................... am No 107, 2001; No 22, 2003; No 27, 2010; No 144, 2011; No 45, 2017; No 55, 2018 s 6A.................... ad No 27, 2010 am No 144, 2011 rep No 45, 2017 s 7..................... am No 107, 2001; No 27, 2010; No 144, 2011; No 45, 2017; No 55, 2018; No 67, 2020; No 137, 2020 s 8..................... am No 22, 2003; No 27, 2010; No 45, 2017; No 55, 2018