{"id":"tas:act-1981-028","name":"Companies (Acquisition of Shares) (Application of Laws) Act 1981","slug":"companies-acquisition-of-shares-application-of-laws-act-1981","collection":"act","jurisdiction":"tas","status":"in_force","isInForce":true,"actNumber":"28 of 1981","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":110053,"registerId":"tas-act-1981-028-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"### 1 Short title\n\n> This Act may be cited as the [Companies (Acquisition of Shares) (Application of Laws) Act 1981](/view/html/inforce/2026-04-12/act-1981-028) .","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"### 2 Commencement\n\n> > (1)  This section and [section 1](#GS1@EN) shall commence on the date of assent to this Act.\n> \n> > (2)  Except as provided in [subsection (1)](#GS2@Gs1@EN) , this Act shall commence on such date as may be fixed by proclamation.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Interpretation","content":"### 3 Interpretation\n\n> > (1)  In this Act, unless the contrary intention appears –\n> > \n> > > ***Agreement*** means the agreement made on 22nd December 1978 between the Commonwealth and the States in relation to a proposed scheme for the co-operative regulation of companies and the securities industry, or, if that agreement is or has been amended or affected by another agreement, that agreement as so amended or affected;\n> > \n> > > ***Commission*** means the National Companies and Securities Commission established by the *National Companies and Securities Commission Act 1979* of the Commonwealth;\n> > \n> > > ***Ministerial Council*** means the Ministerial Council for Companies and Securities established by the Agreement;\n> > \n> > > ***Tasmania*** means the State of Tasmania and its Dependencies;\n> > \n> > > ***the applied provisions*** means the provisions applying by reason of [sections 4](#GS4@EN) and [6](#GS6@EN) ;\n> > \n> > > ***the Commonwealth Act*** means the *Companies (Acquisition of Shares) Act 1980* of the Commonwealth.\n> \n> > (2)  In this Act, a reference to a Commonwealth Act shall be construed as including a reference to that Act as amended and in force for the time being and to an Act passed in substitution for that Act.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Application of law relating to acquisition of shares","content":"### 4 Application of law relating to acquisition of shares\n\n> Subject to this Act, the provisions of the Commonwealth Act (other than sections 1, 2, 3, 4, and 5) apply –\n> \n> > > (a) as if amended as set out in [Schedule 1](#JS1@EN) ; and\n> > \n> > > (b) subject to and in accordance with the *Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981* –\n> \n> as laws of Tasmania.","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Incorporation of certain provisions in  Companies (Tasmania) Code","content":"### 5 Incorporation of certain provisions in  Companies (Tasmania) Code\n\n> *\\[Section 5 Substituted by No. 9 of 1982, s. 5 and Sched. 5 \\]*The provisions applying by reason of [section 4](#GS4@EN) are incorporated with, and shall be read as one with, the [Companies (Tasmania) Code](/view/html/inforce/2026-04-12/act-1982-007) .","sortOrder":4},{"sectionNumber":"6","sectionType":"section","heading":"Application of regulations relating to acquisition of shares","content":"### 6 Application of regulations relating to acquisition of shares\n\n> Subject to this Act, the provisions of regulations in force for the time being under the Commonwealth Act (other than provisions providing for the citation or commencement of the regulations) apply –\n> \n> > > (a) as if amended as set out in [Schedule 2](#JS2@EN) ; and\n> > \n> > > (b) subject to and in accordance with the [Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981](/view/html/inforce/2026-04-12/act-1981-027) –\n> \n> as regulations made under the provisions applying by reason of [section 4](#GS4@EN) .","sortOrder":5},{"sectionNumber":"7","sectionType":"section","heading":"Incorporation of certain provisions in Companies Regulations","content":"### 7 Incorporation of certain provisions in Companies Regulations\n\n> *\\[Section 7 Substituted by No. 9 of 1982, s. 5 and Sched. 5 \\]*The provisions applying by reason of [section 6](#GS6@EN) are incorporated with, and shall be read as one with, regulations applying under the [Companies (Tasmania) Code](/view/html/inforce/2026-04-12/act-1982-007) .","sortOrder":6},{"sectionNumber":"8","sectionType":"section","heading":"Operation of  Companies (Tasmania) Code","content":"### 8 Operation of  Companies (Tasmania) Code\n\n> *\\[Section 8 Substituted by No. 9 of 1982, s. 5 and Sched. 5 \\]*For the purposes of the operation of the [Companies (Tasmania) Code](/view/html/inforce/2026-04-12/act-1982-007) and regulations applying under that Code and the performance of functions and the exercise of powers under that Code or those regulations, with respect to the provisions of, or matters relating to or arising under, the applied provisions –\n> \n> > > (a) references in that Code or those regulations to documents submitted to, or lodged with, the Commission shall be construed as references to documents submitted to, or lodged with, the Commission under the applied provisions; and\n> > \n> > > (b) references in those regulations to the [Companies (Tasmania) Code](/view/html/inforce/2026-04-12/act-1982-007) shall, in accordance with [section 5](#GS5@EN) , be construed as references to that Code with the incorporation of, and as read as one with, the provisions applying by reason of [section 4](#GS4@EN) .","sortOrder":7},{"sectionNumber":"9","sectionType":"section","heading":"Fees payable","content":"### 9 Fees payable\n\n> > (1)  *\\[Section 9 Subsection (1) amended by S.R. 1981 No. 243 \\]*There shall be paid to the Commissioner for Corporate Affairs for Tasmania, for and on behalf of the State, for or in respect of –\n> > \n> > > > (a) the lodgment of documents with the Commission under the applied provisions;\n> > > \n> > > > (b) the registration of documents under the applied provisions or the inspection or search of registers kept by, or documents in the custody of, the Commission under the applied provisions;\n> > > \n> > > > (c) the production by the Commission, pursuant to a subpoena, of any register kept by, or documents in the custody of, the Commission under the applied provisions;\n> > > \n> > > > (d) the issuing of documents or copies of documents, the granting of consents or approvals, or the doing of other acts or things by the Commission under the applied provisions;\n> > > \n> > > > (e) the making of inquiries of, or applications to, the Commission in relation to matters arising under the applied provisions; and\n> > > \n> > > > (f) the submission to the Commission of documents for examination by the Commission –\n> > \n> > such fees (if any) as are prescribed by regulations in force for the time being under the *Companies (Acquisition of Shares-Fees) Act 1980* of the Commonwealth and specified in the Schedule to those regulations as if amended as set out in [Schedule 3](#JS3@EN) and as if, unless the contrary intention appears, expressions used had the same respective meanings as in the applied provisions.\n> \n> > (2)  Where a fee is payable to the Commissioner for Corporate Affairs for Tasmania for and on behalf of the State under [subsection (1)](#GS9@Gs1@EN) for or in respect of the lodgment of a document with the Commission and the document is submitted for lodgment without payment of the fee, the document shall be deemed not to have been lodged until the fee has been paid.\n> \n> > (3)  Where a fee is payable to the Commissioner for Corporate Affairs for Tasmania for and on behalf of the State under [subsection (1)](#GS9@Gs1@EN) for or in respect of any matter involving the doing of any act or thing by the Commission, the Commission shall not do that act or thing until the fee has been paid.\n> \n> > (4)  This section has effect notwithstanding anything contained in the applied provisions.\n> \n> > (5)  Nothing in this section prevents the Commissioner for Corporate Affairs for Tasmania for and on behalf of the State from –\n> > \n> > > > (a) waiving or reducing, in a particular case or classes of cases, fees that would otherwise be payable pursuant to this section; or\n> > > \n> > > > (b) refunding in whole or in part, in a particular case or classes of cases, fees paid pursuant to this section.\n> \n> > (6)  In this section, unless the contrary intention appears, the expressions used have the same respective meanings as in the applied provisions.","sortOrder":8},{"sectionNumber":"10","sectionType":"section","heading":"Amendment of regulations pursuant to Agreement","content":"### 10 Amendment of regulations pursuant to Agreement\n\n> > (1)  Where, under the Agreement, the Ministerial Council approves a proposed amendment of regulations in force for the time being under the Commonwealth Act or the *Companies (Acquisition of Shares-Fees) Act 1980* of the Commonwealth and, upon the expiration of 6 months after the date on which the Ministerial Council so approved, the amendment has not been made or has been made and is subject to disallowance or has ceased to be in force by disallowance or for any other reason, the Governor may make regulations in accordance with the proposed amendment approved by the Ministerial Council amending the provisions of regulations applying by reason of [section 6](#GS6@EN) or the regulations referred to in [section 9](#GS9@EN) , as the case may be.\n> \n> > (2)  Regulations made by the Governor under [subsection (1)](#GS10@Gs1@EN) may amend [Schedule 2](#JS2@EN) or [3](#JS3@EN) , as the case may be, and that Schedule as so amended shall be [Schedule 2](#JS2@EN) or [3](#JS3@EN) , as the case may be, to this Act.\n> \n> > (3)  In this Act –\n> > \n> > > > (a) a reference to provisions of regulations applying by reason of [section 6](#GS6@EN) includes a reference to provisions as so applying as amended in accordance with this section; and\n> > > \n> > > > (b) a reference to fees prescribed by regulations under the *Companies (Acquisition of Shares-Fees) Act 1980* of the Commonwealth includes a reference to those regulations as amended in accordance with this section.","sortOrder":9},{"sectionNumber":"11","sectionType":"section","heading":"Publication of Companies (Acquisition of Shares) (Tasmania) Code","content":"### 11 Publication of Companies (Acquisition of Shares) (Tasmania) Code\n\n> > (1)  The Minister may from time to time authorize the publication by the Government Printer of the provisions of the Commonwealth Act (other than sections 1, 2, 3, 4, and 5), amended as set out in [Schedule 1](#JS1@EN) and in operation, or to come into operation, in Tasmania.\n> \n> > (2)  A document published under [subsection (1)](#GS11@Gs1@EN) –\n> > \n> > > > (a) shall include the headings and sections set out in [Schedule 4](#JS4@EN) ;\n> > > \n> > > > (b) shall include a notification of the date, or dates, on which the several provisions set out in the document came, or come, into operation in Tasmania;\n> > > \n> > > > (c) shall include a statement of the date on which the Minister authorized the publication; and\n> > > \n> > > > (d) may be cited as the *Companies (Acquisition of Shares) (Tasmania) Code*.\n> \n> > (3)  A document that is or purports to be a copy of the *Companies (Acquisition of Shares) (Tasmania) Code* that has been, or purports to have been, published in accordance with this section is *prima facie* evidence of the provisions of the Commonwealth Act applying by reason of [section 4](#GS4@EN) as in operation, or to come into operation, in Tasmania as notified in the document in accordance with [paragraph (b)](#GS11@Gs2@Hpb@EN) of [subsection (2)](#GS11@Gs2@EN) .","sortOrder":10},{"sectionNumber":"12","sectionType":"section","heading":"Publication of Companies (Acquisition of Shares) (Tasmania) Regulations","content":"### 12 Publication of Companies (Acquisition of Shares) (Tasmania) Regulations\n\n> > (1)  The Minister may from time to time authorize the publication by the Government Printer of the provisions of regulations under the Commonwealth Act (other than provisions providing for the citation or commencement of the regulations) amended as set out in [Schedule 2](#JS2@EN) and in operation, or to come into operation, in Tasmania.\n> \n> > (2)  A document published under [subsection (1)](#GS12@Gs1@EN) –\n> > \n> > > > (a) shall include the headings and provisions set out in [Schedule 5](#JS5@EN) ;\n> > > \n> > > > (b) shall include a notification of the date, or dates, on which the several provisions set out in the document came, or come, into operation in Tasmania;\n> > > \n> > > > (c) shall include a statement of the date on which the Minister authorized the publication; and\n> > > \n> > > > (d) may be cited as the *Companies (Acquisition of Shares) (Tasmania) Regulations*.\n> \n> > (3)  A document that is or purports to be a copy of the [Companies (Acquisition of Shares) (Tasmania) Regulations](/view/html/inforce/2026-04-12/sr-9999-999) that has been, or purports to have been, published in accordance with this section is *prima facie* evidence of the provisions applying by reason of [section 6](#GS6@EN) as in operation, or to come into operation, in Tasmania as notified in the document in accordance with [paragraph (b)](#GS12@Gs2@Hpb@EN) of [subsection (2)](#GS12@Gs2@EN) .","sortOrder":11},{"sectionNumber":"13","sectionType":"section","heading":"Publication of Companies (Acquisition of Shares-Fees) (Tasmania) Regulations","content":"### 13 Publication of Companies (Acquisition of Shares-Fees) (Tasmania) Regulations\n\n> > (1)  The Minister may from time to time authorize the publication by the Government Printer of the Schedule to regulations prescribing fees under the *Companies (Acquisition of Shares-Fees) Act 1980* of the Commonwealth amended as set out in [Schedule 3](#JS3@EN) and in operation, or to come into operation, in Tasmania.\n> \n> > (2)  A document published under [subsection (1)](#GS13@Gs1@EN) –\n> > \n> > > > (a) shall include the headings and provisions set out in [Schedule 6](#JS6@EN) ;\n> > > \n> > > > (b) shall include a notification of the date or dates on which the several provisions set out in the document came, or come, into operation in Tasmania;\n> > > \n> > > > (c) shall include a statement of the date on which the Minister authorized the publication; and\n> > > \n> > > > (d) may be cited as the *Companies (Acquisition of Shares-Fees) (Tasmania) Regulations*.\n> \n> > (3)  A document that is or purports to be a copy of the *Companies (Acquisition of Shares-Fees) (Tasmania) Regulations* that has been, or purports to have been, published in accordance with this section is *prima facie* evidence of the Schedule to regulations referred to in [section 9](#GS9@EN) as in operation, or to come into operation, in Tasmania as notified in the document in accordance with [paragraph (b)](#GS13@Gs2@Hpb@EN) of [subsection (2)](#GS13@Gs2@EN) .","sortOrder":12},{"sectionNumber":"14","sectionType":"section","heading":"Publication of provisions amending code or regulations","content":"### 14 Publication of provisions amending code or regulations\n\n> > (1)  The Minister may from time to time authorize the publication by the Government Printer of a document setting out –\n> > \n> > > > (a) provisions that by reason of –\n> > > > \n> > > > > > (i) the enactment of an Act of the Commonwealth amending the Commonwealth Act; and\n> > > > > \n> > > > > > (ii) the operation of [section 4](#GS4@EN) (including the operation, if applicable, of [Schedule 1](#JS1@EN) ) –\n> > > > \n> > > > apply, or will apply, as laws of Tasmania;\n> > > \n> > > > (b) provisions that by reason of –\n> > > > \n> > > > > > (i) regulations under the Commonwealth Act; and\n> > > > > \n> > > > > > (ii) the operation of [section 6](#GS6@EN) (including the operation, if applicable, of [Schedule 2](#JS2@EN) ) –\n> > > > \n> > > > apply, or will apply, as regulations made under the provisions applying by reason of [section 4](#GS4@EN) ; or\n> > > \n> > > > (c) fees that by reason of –\n> > > > \n> > > > > > (i) regulations under the *Companies (Acquisition of Shares-Fees) Act 1980* of the Commonwealth; and\n> > > > > \n> > > > > > (ii) the operation of [section 9](#GS9@EN) (including the operation, if applicable, of [Schedule 3](#JS3@EN) ) –\n> > > > \n> > > > are or will be, payable under that section.\n> \n> > (2)  A document published under [subsection (1)](#GS14@Gs1@EN) shall include a notification of the date, or dates, on which the provisions or fees set out in the document came, or come, into operation in Tasmania.\n> \n> > (3)  A document that has been or purports to have been published in accordance with this section is *prima facie* evidence of provisions or fees referred to in [subsection (1)](#GS14@Gs1@EN) set out in the document.","sortOrder":13},{"sectionNumber":"15","sectionType":"section","heading":"Interpretation of references to the applied provisions","content":"### 15 Interpretation of references to the applied provisions\n\n> > (1)  Unless the contrary intention appears, in this or any other Act or in a regulation or other instrument made under this or any other Act or in any other document made by or under the authority of, or for the purposes of, a law of Tasmania –\n> > \n> > > > (a) a reference to the *Companies (Acquisition of Shares) (Tasmania) Code* is a reference to the provisions of the Commonwealth Act applying by reason of [section 4](#GS4@EN) ;\n> > > \n> > > > (b) a reference to a provision of that Code is a reference to the corresponding provision of the Commonwealth Act as so applying;\n> > > \n> > > > (c) a reference to the *Companies (Acquisition of Shares) (Tasmania) Regulations* is a reference to the provisions of regulations in force under the Commonwealth Act applying by reason of [section 6](#GS6@EN) ;\n> > > \n> > > > (d) a reference to a provision of those regulations is a reference to the corresponding provision of the regulations in force under the Commonwealth Act as so applying;\n> > > \n> > > > (e) a reference to the *Companies (Acquisition of Shares-Fees) (Tasmania) Regulations* is a reference to the Schedule to regulations prescribing fees under the *Companies (Acquisition of Shares-Fees) Act 1980* of the Commonwealth as referred to in [section 9](#GS9@EN) ; and\n> > > \n> > > > (f) a reference to a provision of that Schedule is a reference to the corresponding provision of the Schedule to regulations in force under that Act as referred to in [section 9](#GS9@EN) .\n> \n> > (2)  In [subsection (1)](#GS15@Gs1@EN) , ***provision*** includes Part, Division, section, subsection, paragraph, subparagraph, Schedule, form, regulation, clause, subclause, or other division.","sortOrder":14},{"sectionNumber":"16","sectionType":"section","heading":"Amendment of certain provisions in accordance with approval of Ministerial Council","content":"### 16 Amendment of certain provisions in accordance with approval of Ministerial Council\n\n> Where, under the Agreement, the Ministerial Council –\n> \n> > > (a) approves –\n> > > \n> > > > > (i) a proposed amendment of the Commonwealth Act;\n> > > > \n> > > > > (ii) regulations proposed to be made under the Commonwealth Act (whether or not amending other regulations);\n> > > > \n> > > > > (iii) a proposed amendment of the *Companies (Acquisition of Shares-Fees) Act 1980* of the Commonwealth; or\n> > > > \n> > > > > (iv) regulations proposed to be made under that Act (whether or not amending other regulations); and\n> > \n> > > (b) approves proposed regulations to be made under this Act in connection with the operation of the proposed amendment or regulations referred to in [paragraph (a)](#GS16@Hpa@EN) –\n> \n> the Governor may make regulations amending [Schedule 1](#JS1@EN) , [2](#JS2@EN) , or [3](#JS3@EN) or [section 9](#GS9@EN) , as the case may be, in accordance with that approval, and that Schedule or section as so amended shall be [Schedule 1](#JS1@EN) , [2](#JS2@EN) , or [3](#JS3@EN) or [section 9](#GS9@EN) , as the case may be, of this Act.","sortOrder":15},{"sectionNumber":"17","sectionType":"section","heading":"Transitional provisions","content":"### 17 Transitional provisions\n\n> > (1)  Notwithstanding the enactment of this Act, the *Companies Act 1962*, as in force immediately before the commencement of this section, applies to and in relation to a take-over scheme in respect of which a notice was given under section 184 (2) (a) of the *Companies Act 1962* as in force immediately before the commencement of this section.\n> \n> > (2)  Subject to [subsection (1)](#GS17@Gs1@EN) , the *Companies Act 1962*, as amended by this Act, applies to and in relation to anything done after the date of commencement of this section under or in connection with a scheme that is a take-over scheme within the meaning of section 184 of the *Companies Act 1962*, as in force before that date, whether or not the scheme was prepared before that date and whether or not anything was done in connection with the scheme before that date.\n> \n> > (3)  Where, before the commencement of this section, the directors of a company have reasonably incurred expenses on behalf of and in the interest of the members of the company in relation to a takeover scheme as defined in section 184 of the *Companies Act 1962*, being a takeover scheme involving the acquisition of shares in the company, the directors of the company are entitled, and shall be deemed to have been at all times entitled, to have the expenses refunded to them by the company.","sortOrder":16},{"sectionNumber":"18.","sectionType":"section","heading":null,"content":"### 18.\n\n*\\[Section 18 Repealed by No. 9 of 1982, s. 5 and Sched. 5 \\]*","sortOrder":17},{"sectionNumber":"SCHEDULE 1 - Application of Pr","sectionType":"part","heading":"SCHEDULE 1 - Application of Provisions of Commonwealth Act","content":"# SCHEDULE 1 - Application of Pr SCHEDULE 1 - Application of Provisions of Commonwealth Act\n\n*\\[Schedule 1 Amended by No. 9 of 1982, s. 5 and Scheds. 5 and 6 \\]* *\\[Schedule 1 Amended by S.R. 1983 No. 279 \\]* *\\[Schedule 1 Amended by S.R. 1986 No. 127 \\]* *\\[Schedule 1 Amended by S.R. 1986 No. 144 \\]* *\\[Schedule 1 Amended by S.R. 1987 No. 102 \\]*\n\n[Section 4](#GS4@EN)\n\n[![graphic image](/image/SG0359a.gif)](/image/SG0359a.gif)\n\n[![graphic image](/image/SG0359b.gif)](/image/SG0359b.gif)\n\n[![graphic image](/image/SG0359c.gif)](/image/SG0359c.gif)\n\n[![graphic image](/image/SG0359d.gif)](/image/SG0359d.gif)\n\n[![graphic image](/image/SG0359e.gif)](/image/SG0359e.gif)\n\n[![graphic image](/image/SG0359f.gif)](/image/SG0359f.gif)\n\n[![graphic image](/image/SG0359g.gif)](/image/SG0359g.gif)","sortOrder":18},{"sectionNumber":"SCHEDULE 2 - Application of Re","sectionType":"part","heading":"SCHEDULE 2 - Application of Regulations under Commonwealth Act","content":"# SCHEDULE 2 - Application of Re SCHEDULE 2 - Application of Regulations under Commonwealth Act\n\n*\\[Schedule 2 Amended by S.R. 1982 No. 113 \\]*\n\n[Section 6](#GS6@EN)\n\n[![graphic image](/image/SG0360.gif)](/image/SG0360.gif)","sortOrder":19},{"sectionNumber":"SCHEDULE 3 - Application of Re","sectionType":"part","heading":"SCHEDULE 3 - Application of Regulations under Companies (Acquisition of Shares-Fees) Act 1980 of the Commonwealth","content":"# SCHEDULE 3 - Application of Re SCHEDULE 3 - Application of Regulations under Companies (Acquisition of Shares-Fees) Act 1980 of the Commonwealth\n\n[Section 9](#GS9@EN)\n\n[![graphic image](/image/SG0361.gif)](/image/SG0361.gif)","sortOrder":20},{"sectionNumber":"SCHEDULE 4 - Headings and Sect","sectionType":"part","heading":"SCHEDULE 4 - Headings and Sections for Inclusion in Publication of Commonwealth Act","content":"# SCHEDULE 4 - Headings and Sect SCHEDULE 4 - Headings and Sections for Inclusion in Publication of Commonwealth Act\n\n[Section 11](#GS11@EN)\n\n[![graphic image](/image/SG0362a.gif)](/image/SG0362a.gif)\n\n[![graphic image](/image/SG0362b.gif)](/image/SG0362b.gif)","sortOrder":21},{"sectionNumber":"SCHEDULE 5 - Headings and Prov","sectionType":"part","heading":"SCHEDULE 5 - Headings and Provisions for Inclusion in Publication of Regulations under Commonwealth Act","content":"# SCHEDULE 5 - Headings and Prov SCHEDULE 5 - Headings and Provisions for Inclusion in Publication of Regulations under Commonwealth Act\n\n[Section 12](#GS12@EN)\n\n[![graphic image](/image/SG0363.gif)](/image/SG0363.gif)","sortOrder":22},{"sectionNumber":"SCHEDULE 6 - Headings and Prov","sectionType":"part","heading":"SCHEDULE 6 - Headings and Provisions for Inclusion in Publication of Regulations under Companies (Acquisition of Shares-Fees) Act 1980 of the Commonwealth","content":"# SCHEDULE 6 - Headings and Prov SCHEDULE 6 - Headings and Provisions for Inclusion in Publication of Regulations under Companies (Acquisition of Shares-Fees) Act 1980 of the Commonwealth\n\n[Section 13](#GS13@EN)\n\n[![graphic image](/image/SG0364a.gif)](/image/SG0364a.gif)\n\n[![graphic image](/image/SG0364b.gif)](/image/SG0364b.gif)","sortOrder":23}],"analysis":{"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":true,"description":"This Act extends the reach of the Commonwealth Companies (Acquisition of Shares) Act and its regulations by applying them as laws of Tasmania and incorporating them into the Companies (Tasmania) Code (ss 4–8). It also reallocates fee collection to the Tasmanian Commissioner for Corporate Affairs (s 9), creates Governor regulation-making routes tied to Ministerial Council approvals (ss 10, 16), and preserves specified transitional arrangements for pre‑existing takeover schemes (s 17). These measures therefore alter the territorial and administrative scope of the applicable takeover and fee rules."},"complexity_factors":["Broad cross-references to the Commonwealth Act, its regulations and other statutes — multiple definition and application hooks (see ss 3(1), 4, 6, 15).","Incorporation mechanism that merges Commonwealth provisions into the Companies (Tasmania) Code and Regulations, creating layered text-read‑as‑one relationships (ss 5, 7, 8).","Detailed fee regime that binds Commonwealth-prescribed fees to Tasmanian collection and conditions on lodgement/agency action, while preserving waiver/refund discretion (s 9).","Delegated regulation-making powers tied to Ministerial Council approvals and time triggers, allowing the Governor to amend Schedules or regulations (ss 10, 16).","Publication and prima facie evidence provisions for Tasmanian consolidated Code, regulations and fee schedules, affecting proof and administrative publication (ss 11–14).","Transitional and savings provisions that preserve application of earlier Companies Act provisions for certain takeover schemes and refund entitlements for directors (s 17).","Multiple Schedules (1–6) containing amendments and headings, including graphical/form material — increases interpretive and practical complexity.","Interpretive provisos that treat Commonwealth Acts as including subsequent amendments and substitutions, expanding temporal scope (s 3(2))."],"plain_english_summary":"This Act applies the Commonwealth Companies (Acquisition of Shares) Act and its regulations to Tasmania, amending them as listed and incorporating them into the Companies (Tasmania) Code. It makes fees for lodgements and Commission services payable to the Commissioner for Corporate Affairs for Tasmania on behalf of the State, allows the Governor to adopt Ministerial‑Council‑approved regulatory changes, and sets publication and transitional rules—so Commonwealth takeover rules operate as Tasmanian law and shift compliance, fees and administrative authority to Tasmanian bodies."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":7,"scope_assessment":{"changed":false,"description":"The legislation appears to maintain its original scope as a 'application of laws' statute designed to implement the 1978 Commonwealth-State Agreement for co-operative regulation of companies and securities. While the Act has been amended (notably by Act No. 9 of 1982 substituting sections 5, 7, and 8), these amendments appear to refine the integration mechanism rather than expand the Act's purpose beyond adopting federal takeover law for Tasmania. The core function—applying the Commonwealth Companies (Acquisition of Shares) Act 1980 as Tasmanian law with local administrative adaptations—remains unchanged from the original intent."},"complexity_factors":["Extensive cross-referencing between Commonwealth and Tasmanian legislation (e.g., 'the applied provisions', 'the Commonwealth Act', 'Companies (Tasmania) Code')","Multiple layers of application: Commonwealth Act → applied with amendments → incorporated with Tasmanian Code → read as one law","Six schedules containing amendments/modifications, most represented only as '[graphic image]' placeholders in the provided text, making the actual operative provisions opaque","Nested conditional logic in fee provisions (section 9): fees deemed not lodged until paid, Commission cannot act until paid, but with waiver/reduction powers","Dual regulatory framework involving both the National Companies and Securities Commission (federal) and the Commissioner for Corporate Affairs for Tasmania (state)","Transitional provisions with retrospective deeming (section 17(3): directors 'deemed always entitled' to expense refunds)","Publication and evidentiary provisions creating parallel official versions of 'consolidated' codes and regulations","Ministerial Council approval mechanism for amendments, creating a multi-stage legislative process (Commonwealth amendment → Ministerial Council approval → Tasmanian regulation → Schedule amendment)"],"plain_english_summary":"This is a **Tasmanian law** that adopts (or 'applies') Commonwealth (federal) takeover laws so they operate as Tasmanian law.\n\n**What it does:**\n- It takes the federal *Companies (Acquisition of Shares) Act 1980* and makes it apply in Tasmania, with some modifications set out in **Schedule 1**.\n- It also applies federal regulations made under that Act (with modifications in **Schedule 2**).\n- It sets up a system where fees for lodging documents and other services are paid to Tasmania's Commissioner for Corporate Affairs, based on federal fee regulations (modified in **Schedule 3**).\n\n**Who it affects:**\n- Companies and investors involved in **takeovers** (when one company tries to buy control of another by acquiring its shares) in Tasmania.\n- The **National Companies and Securities Commission** (the federal regulator at the time) and Tasmania's **Commissioner for Corporate Affairs**.\n\n**Why it matters:**\n- Before this law, company regulation was a mess of different state and federal rules. This Act is part of a **co-operative scheme** (agreed between the Commonwealth and States in 1978) to create uniform takeover laws across Australia.\n- Instead of Tasmania writing its own takeover law from scratch, it 'borrows' the federal law and tweaks it to work locally—particularly around fees and administration.\n- It ensures that when you do a takeover in Tasmania, you're following the same substantive rules as the rest of Australia, but any money paid goes to the Tasmanian government, not Canberra.\n\n**Key mechanics:**\n- The federal law is **'incorporated'** into Tasmanian law and read together with Tasmania's **Companies (Tasmania) Code**.\n- The Minister can publish consolidated versions of the applied laws so people can see exactly what rules are currently in force in Tasmania.\n- There's a **transitional provision** (section 17) that deals with takeover schemes already underway when the new system started."},"summary":{"complexity_score":5,"scope_assessment":{"changed":true,"description":"The original scope — regulating share acquisition and takeovers in Tasmania as part of a cooperative national scheme — has effectively been overtaken by Commonwealth legislation (the Corporations Act 2001). What began as a functioning piece of Tasmania's corporate regulatory framework is now essentially a historical artefact with minimal practical operation, representing a significant narrowing of real-world scope even if the Act formally remains on the books."},"complexity_factors":["Intergovernmental cooperative legislative scheme requiring understanding of both state and federal law","Historical context needed — part of a now-superseded 1980s national company law harmonisation effort","Largely displaced by the Corporations Act 2001 (Cth), so determining what (if anything) still operates requires cross-referencing multiple instruments","Deals with technical corporate law concepts such as takeovers, share acquisition thresholds, and disclosure obligations","The Act itself appears to be a short 'application of laws' statute, meaning its substance is found by reference to other legislation rather than within the Act itself","Long gap since last amendment (unchanged since 1997) raises questions about its current operational relevance and interaction with modern law"],"plain_english_summary":"The Act brought Tasmania into the early-1980s national scheme by adopting the federal Companies (Acquisition of Shares) Act 1980, so takeover rules applied uniformly to Tasmanian companies. It affected companies, shareholders and prospective acquirers by promoting fair, transparent share acquisitions. Largely superseded by the Corporations Act 2001, it remains on the Tasmanian statute book but is now mainly of historical and technical interest."},"issue_detection":{"absurdities":[],"contradictions":[]}},"importantCases":[],"_links":{"self":"/api/acts/companies-acquisition-of-shares-application-of-laws-act-1981","history":"/api/acts/companies-acquisition-of-shares-application-of-laws-act-1981/history","analysis":"/api/acts/companies-acquisition-of-shares-application-of-laws-act-1981/analysis","conflicts":"/api/acts/companies-acquisition-of-shares-application-of-laws-act-1981/conflicts","importantCases":"/api/acts/companies-acquisition-of-shares-application-of-laws-act-1981/important-cases","documents":"/api/acts/companies-acquisition-of-shares-application-of-laws-act-1981/documents"}}