Corporations Act 2001
Sections and provisions with full text and the judgments that cite each one.
Section 601WBD — Minister’s power to decide that his or her consent is not required
(1) The Minister’s consent to the transfer of estate assets and liabilities is not required if the Minister has, in writing, determined that his or her consent is not required in relation to: (a) the…
Section 601WCD — Documents purporting to be certificates
A document purporting to be a certificate given under this Division is, unless the contrary is established, taken to be such a certificate and to have been properly given.
Section 601AE — What the Commonwealth or ASIC does with the property
Trust property vested in the Commonwealth (1) If property vests in the Commonwealth under subsection 601AD(1A), the Commonwealth may: (a) continue to act as trustee; or (b) apply to a court for the…
Section 601BE — Registered office
The address specified in the application as the body’s proposed registered office becomes the address of its registered office as a company on registration.
Section 601CE — Application for registration
Subject to this Part, where a foreign company lodges an application for registration under this Division that is in the prescribed form and is accompanied by: (a) a certified copy of a current…
Section 601DE — Using a name and ARBN
Requirements for bodies that are not Australian ADIs (1) Subject to sections 601DF and 601DG, a registered Australian body or registered foreign company must set out the following on all its public…
Section 601EE — Unregistered schemes may be wound up
(1) If a person operates a managed investment scheme in contravention of subsection 601ED(5), the following may apply to the Court to have the scheme wound up: (a) ASIC; (b) the person operating the…
Section 601FE — Duties of employees of responsible entity
(1) An employee of the responsible entity of a registered scheme must not: (a) make use of information acquired through being an employee of the responsible entity in order to: (i) gain an improper…
Section 601HE — Changing the compliance plan
Responsible entity’s powers (1) The responsible entity of a registered scheme may modify the scheme’s compliance plan or repeal it and replace it with a new compliance plan. ASIC may require…
Section 601JE — Compliance committee members have qualified privilege in certain cases
A member of a scheme’s compliance committee has qualified privilege in respect of a statement concerning the operation of the scheme made by or on behalf of the committee, or a member of the…
Section 601KE — Non-liquid schemes—responsible entity may cancel withdrawal offer
(1) The responsible entity of a registered scheme that is not liquid: (a) may cancel a withdrawal offer before it closes if the offer contains a material error; or (b) must cancel a withdrawal offer…
Section 601LE — Modification of section 225
Chapter 2E applies as if subsection 225(1) were amended by omitting “subsection 224(1)” and substituting “section 253E”.
Section 601NE — The winding up of the scheme
(1) The responsible entity of a registered scheme must ensure that the scheme is wound up in accordance with its constitution and any orders under subsection 601NF(2) if: (a) the scheme’s…
Section 601PBE — Consequences of deregistration on status as an Australian passport fund
(1) A scheme ceases to be an Australian passport fund at the same time as it ceases to be a registered scheme. (2) ASIC must annotate the Register of Passport Funds to indicate that the scheme is no…
Section 601RAE — Interaction between trustee company provisions and State and Territory laws
(1) The trustee company provisions are: (a) the provisions of this Chapter, and regulations or other instruments made for the purposes of this Chapter; and (b) the provisions of Chapter 7, and…
Section 601TBE — Estate management functions: payment of fees out of estate
(1) This section applies to the performance by a licensed trustee company of an estate management function relating to a particular estate. (2) Subject to subsection (3), fees charged by the trustee…
Section 601TDE — Additional amount if trust money is in a common fund
(1) If any of the charitable trust’s assets are included in a common fund operated by the trustee company, the trustee company may charge an annual common fund administration fee (GST inclusive) not…
Section 601VBE — Varying percentage approved
Application by holder of approval (1) A person who holds an approval under section 601VBB may apply to vary the percentage specified in the approval by lodging with ASIC an application that: (a)…
Section 601WBE — Determinations may impose conditions
(1) The transfer determination may impose conditions of either or both of the following kinds: (a) conditions to be complied with by the transferring company or the receiving company before a…
Section 601WCE — Construction of references to transferring company
From when a certificate of transfer comes into force, in any instrument of any kind, a reference to the transferring company, in relation to assets or liabilities transferred under this Part, is…
Section 601AF — The Commonwealth’s and ASIC’s power to fulfil outstanding obligations of deregistered company
The Commonwealth or ASIC may do an act on behalf of the company or its liquidator if the Commonwealth or ASIC is satisfied that the company or liquidator would be bound to do the act if the company…
Section 601BF — Name
A company registered under this Part has a name on registration that is: (a) an available name; or (b) the expression “Australian Company Number” followed by the company’s ACN. The name must also…
Section 601CF — Appointment of local agent
(1) A foreign company may at any time appoint a person as a local agent. (2) ASIC must not register a foreign company under this Division unless the foreign company has at least one local agent in…
Section 601DF — Exception to requirement to have ARBN on receipts
A registered Australian body or a registered foreign company does not have to set out the expression “Australian Registered Body Number” followed by its ARBN on a receipt (for example, a cash…
Section 601FF — Surveillance checks by ASIC
(1) ASIC may, from time to time, check whether the responsible entity of a registered scheme is complying with the scheme’s constitution and compliance plan and with this Act. Note: For this purpose…
Section 601HF — ASIC may require consolidation of compliance plan to be lodged
(1) ASIC may direct the responsible entity of a registered scheme to lodge a consolidated copy of the scheme’s compliance plan. (2) The consolidation must set out: (a) the plan as modified to the…
Section 601JF — When can responsible entity indemnify compliance committee members?
(1) A scheme’s responsible entity or a related body corporate must not: (a) indemnify a person who is or has been a member of the scheme’s compliance committee against a liability incurred by the…
Section 601NF — Other orders about winding up
(1) The Court may, by order, appoint a person to take responsibility for ensuring a registered scheme is wound up in accordance with its constitution and any orders under subsection (2) if the Court…
Section 601TDF — Additional amount for preparation of returns etc.
The trustee company may charge a reasonable fee for work involved in the preparation and lodging of returns for the purpose of, or in connection with, assessments of any duties or taxes (other than…
Section 601VBF — Revoking an approval
(1) The Minister may, by written notice given to a person who holds an approval under section 601VBB in relation to a licensed trustee company or proposed licensed trustee company, revoke the…
Section 601WBF — Notice of determination
ASIC must give a copy of the transfer determination to the transferring company and the receiving company.
Section 601WCF — Income or other distribution received by transferring company
The transferring company must promptly account to the receiving company for any income or other distribution received by the transferring company after a certificate of transfer comes into force, if…
Section 601AG — Claims against insurers of deregistered company
A person may recover from the insurer of a company that is deregistered an amount that was payable to the company under the insurance contract if: (a) the company had a liability to the person; and…
Section 601BG — Constitution
(1) The constitution on registration (if any) of a company registered under this Part is the constitution lodged with the application. (2) If any text in a constitution lodged with the application is…
Section 601CG — Local agent: how appointed
(1) A foreign company that lodges a memorandum of appointment, or a power of attorney, that is duly executed by or on behalf of the foreign company and states the name and address of a person who is:…
Section 601DG — Regulations may exempt from requirement to set out information on documents
The regulations may exempt a specified registered Australian body or registered foreign company, or a class of those bodies or companies, from the requirement in paragraphs 601DE(1)(b), (c) and (d)…
Section 601FG — Acquisition of interest in scheme by responsible entity
(1) The responsible entity of a registered scheme may acquire and hold an interest in the scheme, but it must only do so: (a) for not less than the consideration that would be payable if the interest…
Section 601HG — Audit of compliance plan
(1) The responsible entity of a registered scheme must ensure that at all times a registered company auditor, an audit firm or an authorised audit company is engaged to audit compliance with the…
Section 601JG — When can responsible entity pay insurance premiums for compliance committee members?
(1) A scheme’s responsible entity or a related body corporate must not pay, or agree to pay, a premium in respect of a contract insuring a person who is or has been a member of the scheme’s…
Section 601NG — Unclaimed money to be paid to ASIC
If, on completion of the winding up of a registered scheme, the person who has been winding up the scheme has in their possession or under their control any unclaimed or undistributed money or other…
Section 601TDG — Subdivision applies to existing client charitable trusts
This Subdivision applies to a particular provision of a traditional trustee company service by a licensed trustee company if: (a) the service consists of being the trustee or manager of a charitable…
Section 601VBG — Minister may require further information from applicants
(1) If a person has made an application under this Division, the Minister may, by written notice given to the person, require the person to give the Minister, within a specified period, further…
Section 601WBG — Certificate of transfer
(1) If: (a) ASIC has made a transfer determination; and (b) ASIC considers that the transfer should go ahead; and (c) the consent referred to in subparagraph 601WBA(2)(b)(iii) has not been withdrawn…
Section 601WCG — Access to books
The transferring company must, at the request of the receiving company, give the receiving company access to all books in its possession that relate to assets or liabilities transferred under this…
Section 601AH — Reinstatement
Reinstatement by ASIC (1) ASIC may reinstate the registration of a company if ASIC is satisfied that the company should not have been deregistered. (1A) ASIC may reinstate the registration of a…
Section 601BH — Modifications of constitution
(1) A company registered under this Part must modify its constitution within 3 months after registration to give effect to this Part. (2) If the constitution specifies amounts of money expressed in…
Section 601CH — Local agent: how removed
(1) Where a person is a local agent of a foreign company, the foreign company or the person may lodge a written notice stating that the person’s appointment as a local agent has terminated, or will…
Section 601DH — Notice of name change must be given to ASIC
(1) A registered Australian body or a registered foreign company must give ASIC written notice of a change to its name within 14 days after the date the change occurred. (1A) An offence based on…
Section 601FH — Liquidator etc. of responsible entity entitled to exercise indemnity rights
If the company that is a registered scheme’s responsible entity is being wound up, is under administration, has executed a deed of company arrangement that has not terminated, is under restructuring…
Section 601HH — Removal and resignation of auditors
Removal of auditor by responsible entity (1) The responsible entity: (a) must remove the auditor of the compliance plan if the auditor becomes ineligible under subsection 601HG(2) to act as auditor…