ISSN 1328â8091 Parliament of Australia Department of Parliamentary Services BILLS DIGEST NO. 42, 2010-11 17 November 2010 Corporations Amendment (No. 1) Bill 2010 Sharon Scully and Mary Anne Neilsen Law and Bills Digest Section Contents Reâintroduction of the Bill ........................................................................................................................ 2 Purpose .................................................................................................................................................... 2 Background .............................................................................................................................................. 2 Access to company registers .............................................................................................................. 3 Committee consideration ........................................................................................................................ 5 Policy position of major stakeholders ...................................................................................................... 5 Financial implications ............................................................................................................................... 5 Key provisions .......................................................................................................................................... 6 ASIC and search warrants to seize documents ................................................................................... 6 Comment ....................................................................................................................................... 7 Access to company registers .............................................................................................................. 7 Comment ....................................................................................................................................... 9 The Aevum case ................................................................................................................................ 10 Comment ..................................................................................................................................... 11 Penalties for offences under Corporations Act ................................................................................ 11 Amendments to Telecommunications (Interception and Access) Act 1979 .................................... 13 Comment ..................................................................................................................................... 13 2 Corporations Amendment (No. 1) Bill 2010 Corporations Amendment (No. 1) Bill 2010 Date introduced: 29 September 2010 House: House of Representatives Portfolio: Treasury Commencement: sections 1-3: on Royal Assent; Schedule 1: on proclamation but, if any provision does not commence within six months from Royal Assent, it commences on the day after the end of that six month period. Links: The links to the Bill, its Explanatory Memorandum and second reading speech can be found on the Bills home page, or through http://www.aph.gov.au/bills/. When bills have been passed they can be found at the ComLaw website, which is at http://www.comlaw.gov.au/. Reâintroduction of the Bill The Corporations Amendment (No. 1) Bill 2010 (the Bill) was first introduced on 24 June 2010 but
Date: 17/11/2010 - Collection: Bills and Legislation - ID: legislation/billsdgs/366782 - Source: Bills Digest Service - Author: SCULLY, Sharon - NEI...