1363   Definitions

                   In this Part, unless the contrary intention appears:

prescribed means prescribed by the regulations.

the regulations means the regulations made under section 1364.

1364   Power to make regulations

             (1)  The Governor-General may make regulations prescribing matters:

                     (a)  required or permitted by this Act to be prescribed by regulations; or

                     (b)  necessary or convenient to be prescribed by such regulations for carrying out or giving effect to this Act.

             (2)  Without limiting subsection (1), the regulations may make provision:

                     (c)  for or in relation to the keeping of registers by ASIC, the lodging of documents with ASIC, the registration of documents by ASIC, the time and manner of lodging or registration, and the requirements with which documents lodged or to be lodged are to comply; and

                     (d)  prescribing forms for the purposes of this Act and the method of verifying any information required by or in those forms; and

                     (e)  prescribing the manner in which, the persons by whom, and the directions or requirements in accordance with which, the forms prescribed for the purposes of this Act, or any of them, are required or permitted to be signed, prepared, or completed, and generally regulating the signing, preparation and completion of those forms, or any of them; and

                      (f)  for or in relation to the convening of, conduct of, and procedure and voting at, meetings of creditors, meetings of contributories and meetings of holders of debentures, and joint meetings of creditors and members of companies, the number of persons required to constitute a quorum at any such meeting, the sending of notices of meetings to persons entitled to attend at meetings, the lodging of copies of notices of, and of resolutions passed at, meetings, and generally regulating the conduct of, and procedure at, any such meeting; and

                     (g)  prescribing the persons by whom, and the circumstances and manner in which, proxies may be appointed and generally regulating the appointment and powers of proxies; and

                     (h)  for or in relation to the proving of debts in the winding up of a company, the manner of proving debts and the time within which debts are required or permitted to be proved and generally regulating the proving of debts; and

                      (j)  prescribing the manner in which a liquidator appointed by the Court may:

                              (i)  exercise powers and perform functions under subsection 478(1); and

                             (ii)  exercise any powers conferred, and perform any duties imposed, on the liquidator by regulations made for the purposes of subsection 488(1); and

                     (k)  prescribing the manner in which a liquidator in a voluntary winding up may exercise powers and perform functions under section 506; and

                    (m)  prescribing times for the lodging of any documents; and

                     (n)  for or in relation to the publication of advertisements offering the services of dealers or investment advisers or offering securities for purchase or sale, and the form and content of those advertisements; and

                     (p)  for or in relation to the publication of advertisements offering the services of futures brokers or futures advisers or offering to deal in futures contracts, and the form and content of those advertisements; and

                     (q)  for or in relation to the form of balance-sheets and profit and loss statements required by this Act to be prepared by dealers or futures brokers; and

                      (r)  for or in relation to prohibiting, or regulating the manner and extent of, the offsetting by a futures broker of dealings in futures contracts (as between dealings on the broker’s own account and dealings on behalf of a client or as between dealings on behalf of a client and dealings on behalf of another client) and, without limitation, regulating the manner of, or requiring, the making of margin calls in respect of dealings in futures contracts effected by a futures broker; and

                      (s)  for or in relation to the giving to ASIC of information in addition to, or in variation of, the information contained in a prescribed form lodged with it; and

                      (t)  for or in relation to the times within which information required to be given to ASIC under this Act must be so given; and

                     (u)  for or in relation to the manner in which:

                              (i)  orders made under this Act may be served on persons affected by the orders; and

                             (ii)  documents that are required or permitted by this Act to be served on a person may be so served; and

                    (w)  prescribing penalties not exceeding $1,000 for contraventions of the regulations.

1365   Scope of particular regulations

                   Except as otherwise expressly provided in this Act, the regulations may be of general or specially limited application or may differ according to differences in time, locality, place or circumstance.

1366   Verifying or certifying documents

                   The regulations may:

                     (a)  where documents required by or under this Act to be lodged in accordance with this Act are required to be verified or certified and no manner of verification or certification is prescribed by or under this Act—require that the documents or any of them be verified or certified by statement in writing made by such persons as are prescribed by the regulations; and

                     (b)  where no express provision is made in this Act for verification or certification of documents—require that the documents be verified or certified by statement in writing by such persons as are prescribed.

1367   Documents lodged by an agent

                   The regulations may provide, in such cases as are prescribed, that, if a document that is required by or under this Act to be lodged is signed or lodged on behalf of a person by an agent duly authorised by writing, there must be:

                     (a)  lodged with; or

                     (b)  endorsed on; or

                     (c)  annexed to;

that document, the original, or a verified copy, of the authority.

1368   Exemptions from Chapter 6D, 7 or 8

                   The regulations may provide that, subject to any prescribed terms and conditions, Chapter 6D, 7 or 8, or specified provisions of Chapter 6D, 7 or 8:

                     (a)  do not have effect in relation to a specified person or class of persons; or

                     (b)  have effect in relation to a specified person or class of persons to such extent only as is prescribed; or

                     (c)  do not have effect in relation to a specified transaction or class of transactions; or

                     (d)  do not have effect in relation to a specified transaction or class of transactions entered into by a specified person or class of persons;

and may provide that a contravention of a prescribed term or condition is an offence against the regulations.

1369   Penalty notices

             (1)  The regulations:

                     (a)  may prescribe offences against this Act (not being offences the penalties applicable to which include a term of imprisonment or a pecuniary penalty that exceeds $1,000), or offences against the regulations, for the purposes of section 1313; and

                     (b)  must, in relation to each offence that is prescribed under this subsection:

                              (i)  prescribe the particulars of that offence that are to be given in a notice served on a person under that section in relation to the offence; and

                             (ii)  prescribe the amount of the penalty (being not more than half the amount of the penalty applicable to the offence) that is payable in respect of the offence under a notice served on a person under that section in relation to the offence.

             (2)  In subsection (1), a reference to a penalty applicable to an offence is a reference to the penalty that is applicable to that offence because of any of the provisions of section 1311.

             (3)  The particulars of an offence required to be prescribed by subparagraph (1)(b)(i) may be prescribed by being set out in the form prescribed for the purposes of section 1313 in relation to the offence.

1369A   State termination of reference

             (1)  The regulations may make provision in relation to circumstances that arise because a State ceases to be a referring State.

Note:          For example, the regulations may prevent companies that have their registered office or financial records in the State from committing offences and give them time to relocate their office or records.

             (2)  Without limiting subsection (1), regulations made under that subsection may modify the operation of this Act in relation to the circumstances dealt with in the regulations.

Chapter 10 — Transitional provisions