Commonwealth Consolidated Acts

CORPORATE LAW ECONOMIC REFORM PROGRAM ACT 1999 - SCHEDULE 8

1 Subsection 172(1)

After "this Chapter", insert "that relates to a company".

2 Subsection 172(1A)

Omit "Part", substitute "Chapter".

3 Subsection 243V(2)

Omit "(1)(d)", substitute "(1)(e)".

4 Paragraph 309(3)(b)

Omit "(d), (e) or (f)", substitute "(b), (c) or (d)".

5 At the end of section 314

Add:

(3)

If the accounting standards made for the purposes of paragraph (2)(a) require a discussion and analysis to be included in a concise financial report:

(a)

the auditor must report on whether the discussion and analysis complies with the requirements that the accounting standards lay down for the discussion and analysis; and

(b)

the auditor does not otherwise need to audit the statements made in the discussion and analysis.

6 Paragraph 334(4)(b)

After "ending", insert ", or starting,".

7 Heading to Part 2M.4

Repeal the heading, substitute:

Part 2M.4—Appointment and removal of auditors
8 After the Heading to Part 2M.4

Insert:

Division 1—Companies
9 Heading to Division 1A of Part 2M.4

Repeal the heading, substitute:

Division 2—Registered schemes
10 Paragraph 601CE(c)

Omit "242(3)", substitute "242(2)".

11 Paragraph 1085(1)(c)

Omit "constitution", substitute "constitution (if any) and any replaceable rules that apply to the company".

12 Section 601LA

Omit "Part 3.2A", substitute "Chapter 2E".

Note: The heading to section 601LA is altered by omitting "Part 3.2A" and substituting "Chapter 2E".

13 Section 601LB

Omit "Part 3.2A", substitute "Chapter 2E".

14 Section 601LC

Omit "Part 3.2A", substitute "Chapter 2E".

15 Section 601LD

Omit "Part 3.2A", substitute "Chapter 2E".

16 Section 601LE

Omit "Part 3.2A", substitute "Chapter 2E".

17 Subsection 601QA(2)

Repeal the subsection, substitute:

(2)

The exemption or declaration may:

(a)

apply to all or specified provisions of this Chapter; and

(b)

apply to all persons, specified persons, or a specified class of persons; and

(c)

relate to all securities, specified securities or a specified class of securities; and

(d)

relate to any other matter generally or as specified.

18 Section 1465 (table item 1)

Omit "managed investment", substitute "interest in a managed investment scheme".

19 Division 11 of Part 11.2 (first occurring) (heading)

Repeal the heading, substitute:

Division 10A—Changes resulting from Schedule 5 to the Company Law Review Act 1998
20 Section 1451 (definition of old Law)

Omit "this law", substitute "this Law".

21 Schedule 3

Repeal the items relating to sections 1064, 1065, 1072 and 1074.