CORPORATIONS (REVIEW FEES) REGULATIONS 2003 - made under the Corporations (Review Fees) Act 2003 - TABLE OF PROVISIONS 1. Name of Regulations [see Note 1] 2. Commencement 3. Definitions 4. Review fees [see Note 2] 5. No fee for second review date in a financial year SCHEDULE 1 Review fees CORPORATIONS (REVIEW FEES) REGULATIONS 2003 - REG 1 Name of Regulations [see Note 1] These Regulations are the Corporations (Review Fees) Regulations 2003. CORPORATIONS (REVIEW FEES) REGULATIONS 2003 - REG 2 Commencement These Regulations commence on 1 July 2003. CORPORATIONS (REVIEW FEES) REGULATIONS 2003 - REG 3 Definitions In these Regulations: "Act" means the Corporations Act 2001. small transferring financial institution means a transferring financial institution of a State or Territory: (a) for which a review date applies in accordance with sections 345A, 345B and 345C of the Act; and (b) for which any of the following circumstances exists on 1 July immediately before that review date: (i) a levy under the Authorised Deposit-taking Institutions Supervisory Levy Imposition Act 1998 or the Life Insurance Supervisory Levy Imposition Act 1998 is not payable; (ii) the minimum levy amount determined under subsection 7 (3) of the Authorised Deposit-taking Institutions Supervisory Levy Imposition Act 1998 is payable; (iii) the minimum levy amount determined under subsection 7 (3) of the Life Insurance Supervisory Levy Imposition Act 1998 is payable. special purpose company means: (a) a company holding a licence that is continued in force by section 151 of the Act and allows the company to omit 'Limited' from its name; or (b) in the case of a company limited by guarantee, or by both shares and guarantee, that was registered immediately before the commencement of this paragraph -- if the constitution of the company states that the company: (i) is formed for the purpose of providing recreation or amusement or promoting commerce, industry, art, science, religion, charity, patriotism, pension or superannuation schemes or any other object useful to the community; and (ii) applies its profits (if any) or other income in promoting its purpose; and (iii) prohibits the distribution of its income or property to its members; or (c) a company that, under subsection 150 (1) of the Act, is registered without 'Limited' in its name; or (d) a company the constitution of which: (i) requires the company to pursue charitable purposes only and to apply its income in promoting those purposes; and (ii) prohibits the company making distributions to its members and paying fees to its directors; and (iii) requires its directors to approve all other payments the company makes to them; or (e) a proprietary company, if: (i) the company is the proprietor of land on which a building divided into separate residential areas and areas for common use is erected; and (ii) the members of the company are entitled, because of the shares they hold in the company, to the exclusive occupation of 1 or more of the residential areas and to the use of the common areas; and (iii) the company only operates to facilitate and enforce the rights of company members in relation to the exclusive occupation of the residential areas and to maintain the common areas; or (f) a company, other than a company mentioned in paragraph (a), (b), (c), (d) or (e), if: (i) the constitution of the company prohibits distribution of the company's income or property to its members; and (ii) the sole purpose of the company is to act as the trustee of a regulated superannuation fund within the meaning of section 19 of the Superannuation Industry (Supervision) Act 1993. "transferring financial institution of a State or Territory" has the meaning given by clause 1 of Schedule 4 to the Act. CORPORATIONS (REVIEW FEES) REGULATIONS 2003 - REG 4 Review fees [see Note 2] (1) For subsection 5 (1) of the Corporations (Review Fees) Act 2003, fees are prescribed in relation to review dates for a company or registered scheme mentioned in an item of Part 1 of Schedule 1 if the fees are to be paid annually. (1A) For subsection 5 (1) of the Corporations (Review Fees) Act 2003: (a) fees are prescribed in relation to review dates for a company or registered scheme mentioned in an item of Part 1A of Schedule 1 if the fees are to be paid before the conduct of the review; and (b) a company or registered scheme that pays the fee mentioned in the item before the conduct of the review is not required to pay another fee in relation to review dates for the period of 10 years starting when the company or registered scheme pays the fee. (2) For subsection 5 (1) of the Corporations (Review Fees) Act 2003, fees are prescribed in relation to review dates for a company or registered scheme in the circumstances mentioned in column 2 of Part 2 of Schedule 1. (3) Subject to regulation 5, for subsection 6 (1) of the Corporations (Review Fees) Act 2003, the amounts mentioned in column 3 of a Part of Schedule 1 are specified as review fees. CORPORATIONS (REVIEW FEES) REGULATIONS 2003 - REG 5 No fee for second review date in a financial year (1) This regulation applies if: (a) a company or responsible entity of a registered scheme changes the review date for the company or scheme under section 345B of the Act; and (b) the effect of the change of review date is that there will be 2 review dates for the company or scheme in a financial year. (2) For subsection 6 (1) of the Corporations (Review Fees) Act 2003, no review fee is prescribed for the second of the review dates mentioned in paragraph (1) (b). (3) In this regulation: "financial year" means a period of 12 months commencing on 1 July. CORPORATIONS (REVIEW FEES) REGULATIONS 2003 - SCHEDULE 1 Review fees (regulation 4) Part 1 Annual fees Item Company, registered scheme or person Fee ($) 101 A public company, except a special purpose company or a small transferring financial institution 1 000 102 A proprietary company, except a special purpose company 212 103 A special purpose company 40 104 A registered scheme 1 000 105 A registered scheme that is being wound up no fee 106 A small transferring financial institution, except a special purpose company 200 107 A company in liquidation no fee Part 1A Upfront fees Item Company, registered scheme or person Fee ($) 101 A public company, except a special purpose company or a small transferring financial institution 7 700 102 A proprietary company, except a special purpose company 1 600 103 A special purpose company 300 104 A registered scheme 7 700 Part 2 Late fees Item Circumstance Fee ($) 201 Paying a review fee mentioned in Part 1 or Part 1A after the date on which the fee becomes due and payable, but within 1 month after that date 65 202 Paying a review fee mentioned in Part 1 or Part 1A more than 1 month after the date on which the fee becomes due and payable 270 Note For when a fee becomes due and payable, see subsection 1351 (3) of the Act . CORPORATIONS (REVIEW FEES) REGULATIONS 2003 - NOTES Statutory Rules 2003 No. 160 as amended This compilation was prepared on 16 November 2007 taking into account amendments up to SLI 2007 No. 200 Prepared by the Office of Legislative Drafting and Publishing, Attorney-General's Department, Canberra Contents 1 Name of Regulations [see Note 1] 3 2 Commencement 3 3 Definitions 3 4 Review fees [see Note 2] 5 5 No fee for second review date in a financial year 5 Schedule 1 Review fees 7 Part 1 Annual fees 7 Part 1A Upfront fees 7 Part 2 Late fees 8 Notes 9 CORPORATIONS (REVIEW FEES) REGULATIONS 2003 - NOTES Notes to the Corporations (Review Fees) Regulations 2003 Note 1 The Corporations (Review Fees) Regulations 2003 (in force under the Corporations (Review Fees) Act 2003) as shown in this compilation comprise Statutory Rules 2003 No. 160 amended as indicated in the Tables below. Under the Legislative Instruments Act 2003, which came into force on 1 January 2005, it is a requirement for all non-exempt legislative instruments to be registered on the Federal Register of Legislative Instruments. From 1 January 2005 the Statutory Rules series ceased to exist and was replaced with Select Legislative Instruments (SLI series). Numbering conventions remain the same, ie Year and Number. Table of Instruments Year and number Date of notification in Gazette or FRLI registration Date of commencement Application, saving or transitional provisions 2003 No. 160 26 June 2003 1 July 2003 2003 No. 370 23 Dec 2003 1 Jan 2004 -- 2004 No. 196 1 July 2004 1 July 2004 -- 2007 No. 200 29 June 2007 (see F2007L01902) 1 Sept 2007 (see r. 2) -- Table of Amendments ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted Provision affected How affected R. 4......................................... rs. 2003 No. 370 am. 2007 No. 200 Schedule 1 Schedule 1............................ rs. 2003 No. 370 am. 2004 No. 196; 2007 No. 200