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Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019

2016-2017-2018-2019

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019

 

No.      , 2019

 

(Treasury)

 

 

 

A Bill for an Act to amend the law relating to corporations, business names registration and consumer credit and to deal with consequential matters relating to the enactment of the Commonwealth Registers Act 2019 , and for related purposes

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedules............................................................................................ 4

Schedule 1—Amendments relating to the Registrar                                          5

Part 1—Main amendments                                                                                          5

Business Names Registration Act 2011                                                                    5

Business Names Registration (Transitional and Consequential Provisions) Act 2011      18

Corporations Act 2001                                                                                              18

National Consumer Credit Protection Act 2009                                                  31

Part 2—Other amendments                                                                                       46

A New Tax System (Australian Business Number) Act 1999                               46

A New Tax System (Goods and Services Tax) Act 1999                                       55

Australian Prudential Regulation Authority Act 1998                                       56

Australian Securities and Investments Commission Act 2001                           56

Business Names Registration Act 2011                                                                  57

Business Names Registration (Transitional and Consequential Provisions) Act 2011      82

Corporations Act 2001                                                                                              90

Income Tax Assessment Act 1997                                                                           197

National Consumer Credit Protection Act 2009                                                200

National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009      203

Superannuation Industry (Supervision) Act 1993                                             204

Taxation Administration Act 1953                                                                        207

Part 3—Application of amendments                                                                  213

Schedule 2—Director identification numbers                                                    215

Corporations (Aboriginal and Torres Strait Islander) Act 2006                    215

Corporations Act 2001                                                                                            224

Income Tax Assessment Act 1936                                                                           232

Taxation Administration Act 1953                                                                        233

 

 



A Bill for an Act to amend the law relating to corporations, business names registration and consumer credit and to deal with consequential matters relating to the enactment of the Commonwealth Registers Act 2019 , and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act is the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2019 .

2   Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedule 1

A day or days to be fixed by Proclamation.

However, if any of the provisions do not commence within the period of 24 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

3.  Schedule 2, items 1 to 10

A day or days to be fixed by Proclamation.

However, if any of the provisions do not commence within the period of 24 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

4.  Schedule 2, item 11

A single day to be fixed by Proclamation.

However, if the provisions do not commence within the period of 24 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

5.  Schedule 2, item 12

At the same time as the commencement of the provisions covered by table item 4.

However, the provisions do not commence at all if Schedule 1 to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 commences before or on the same day as the provisions covered by table item 4.

 

6.  Schedule 2, item 13

The later of:

(a) immediately after the commencement of the provisions covered by table item 4; and

(b) immediately after the commencement of Schedule 1 to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019.

However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur.

 

7.  Schedule 2, item 14

A single day to be fixed by Proclamation.

However, if the provisions do not commence within the period of 24 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

8.  Schedule 2, item 15

At the same time as the commencement of the provisions covered by table item 4.

However, the provisions do not commence at all if Schedule 1 to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 commences before or on the same day as the provisions covered by table item 4.

 

9.  Schedule 2, item 16

The later of:

(a) immediately after the commencement of the provisions covered by table item 4; and

(b) immediately after the commencement of Schedule 1 to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019.

However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur.

 

10.  Schedule 2, items 17 and 18

A day or days to be fixed by Proclamation.

However, if any of the provisions do not commence within the period of 24 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedules

                   Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.