{"id":"tas:act-1987-009","name":"Futures Industry (Application of Laws) Act 1987","slug":"futures-industry-application-of-laws-act-1987","collection":"act","jurisdiction":"tas","status":"in_force","isInForce":true,"actNumber":"9 of 1987","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":106449,"registerId":"tas-act-1987-009-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part I","sectionType":"part","heading":"Preliminary","content":"# Part I Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"### 1 Short title\n\n> This Act may be cited as the [Futures Industry (Application of Laws) Act 1987](/view/html/inforce/2026-04-12/act-1987-009) .","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"### 2 Commencement\n\n> > (1)  This section and [section 1](#GS1@EN) shall commence on the day on which this Act receives the Royal Assent.\n> \n> > (2)  Except as provided in [subsection (1)](#GS2@Gs1@EN) , this Act shall commence on such day as may be fixed by proclamation.","sortOrder":2},{"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, as amended or affected by subsequent agreements;\n> > \n> > > ***Commission*** means the National Companies and Securities Commission established by the [National Companies and Securities Commission Act 1979](/view/html/inforce/2026-04-12/act-9999-999) of the Commonwealth;\n> > \n> > > ***Commissioner for Corporate Affairs*** means the person holding office as Commissioner for Corporate Affairs under [section 4 of the](/view/html/inforce/2026-04-12/act-1980-064#GS4@EN) [Commissioner for Corporate Affairs Act 1980](/view/html/inforce/2026-04-12/act-1980-064) and includes any person holding that office in an acting capacity;\n> > \n> > > ***Ministerial Council*** means the Ministerial Council for Companies and Securities established by the Agreement;\n> > \n> > > ***the applied provisions*** means the provisions applying by reason of [sections 5](#GS5@EN) and [6](#GS6@EN) ;\n> > \n> > > ***the Commonwealth Act*** means the [Futures Industry Act 1986](/view/html/inforce/2026-04-12/act-9999-999) 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":3},{"sectionNumber":"4","sectionType":"section","heading":"Interpretation of  Futures Industry (Tasmania) Code","content":"### 4 Interpretation of  Futures Industry (Tasmania) Code\n\n> The [Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981](/view/html/inforce/2026-04-12/act-1981-027) applies to the [Futures Industry (Tasmania) Code](/view/html/inforce/2026-04-12/sr-1987-009) .","sortOrder":4},{"sectionNumber":"Part II","sectionType":"part","heading":"Application of Laws","content":"# Part II Application of Laws","sortOrder":5},{"sectionNumber":"5","sectionType":"section","heading":"Application of Commonwealth Act","content":"### 5 Application of Commonwealth Act\n\n> [*\\[Section 5 Amended by No. 41 of 2001, s. 29, Applied:15 Jul 2001\\]*](/view/html/inforce/2001-07-15/act-2001-041#GS29@Hpa@EN) Subject to this Act, the provisions of the [Commonwealth Act](/view/html/inforce/2026-04-12/act-9999-999#) as in force on 31 December 1990 (other than [sections 1](#GS1@EN) , [2](#GS2@EN) , and [3](#GS3@EN) ) 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](/view/html/inforce/2026-04-12/act-1981-027) –\n> \n> as laws of Tasmania.","sortOrder":6},{"sectionNumber":"6","sectionType":"section","heading":"Application of Futures Industry Regulations","content":"### 6 Application of Futures Industry Regulations\n\n> [*\\[Section 6 Amended by No. 41 of 2001, s. 29, Applied:15 Jul 2001\\]*](/view/html/inforce/2001-07-15/act-2001-041#GS29@Hpb@EN) Subject to this Act, the provisions of regulations in force on 31 December 1990 under the [Commonwealth Act](/view/html/inforce/2026-04-12/act-1986-999#) (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 5](#GS5@EN) .","sortOrder":7},{"sectionNumber":"7","sectionType":"section","heading":"Fees payable","content":"### 7 Fees payable\n\n> > (1)  There shall be paid to the Commissioner for Corporate Affairs, 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 licences, consents, or approvals or the doing of other acts or things by the Ministerial Council or the Commission under the applied provisions;\n> > > \n> > > > (e) the making of inquiries of, or applications to, the Ministerial Council or 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 [Futures Industry (Fees) Act 1986](/view/html/inforce/2026-04-12/act-9999-999) 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, the 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 and on behalf of the State under [subsection (1)](#GS7@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 and on behalf of the State under [subsection (1)](#GS7@Gs1@EN) for or in respect of any matter involving the doing of any act or thing by the Ministerial Council or the Commission, the Ministerial Council or 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 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, expressions used have the same respective meanings as in the applied provisions.","sortOrder":8},{"sectionNumber":"8","sectionType":"section","heading":"Amendment of regulations pursuant to Agreement","content":"### 8 Amendment of regulations pursuant to Agreement\n\n> > (1)  Where, under the Agreement, the Ministerial Council approves a proposed amendment of the regulations in force for the time being under the [Commonwealth Act](/view/html/inforce/2026-04-12/act-1986-999#) or the [Futures Industry (Fees) Act 1986](/view/html/inforce/2026-04-12/act-9999-999) of the Commonwealth and, on 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 7](#GS7@EN) , as the case may be.\n> \n> > (2)  Regulations made by the Governor under [subsection (1)](#GS8@Gs1@EN) may amend [Schedule 2](#JS2@EN) or [3](#JS3@EN) , 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 [Futures Industry (Fees) Act 1986](/view/html/inforce/2026-04-12/act-9999-999) of the Commonwealth includes a reference to those regulations as amended in accordance with this section.","sortOrder":9},{"sectionNumber":"9","sectionType":"section","heading":"Publication of  Futures Industry (Tasmania) Code","content":"### 9 Publication of  Futures Industry (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](/view/html/inforce/2026-04-12/act-9999-999#) (other than [sections 1](#GS1@EN) , [2](#GS2@EN) , and [3](#GS3@EN) ), 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)](#GS9@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 [Futures Industry (Tasmania) Code](/view/html/inforce/2026-04-12/sr-1987-009) .\n> \n> > (3)  A document that is, or purports to be, a copy of the [Futures Industry (Tasmania) Code](/view/html/inforce/2026-04-12/sr-1987-009) 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](/view/html/inforce/2026-04-12/act-9999-999#) applying by reason of [section 5](#GS5@EN) as in operation, or to come into operation, in Tasmania as notified in the document in accordance with [subsection (2)](#GS9@Gs2@EN) [(b)](#GS9@Gs2@Hpb@EN) .","sortOrder":10},{"sectionNumber":"10","sectionType":"section","heading":"Publication of  Futures Industry (Tasmania) Regulations","content":"### 10 Publication of  Futures Industry (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](/view/html/inforce/2026-04-12/act-9999-999#) (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)](#GS10@Gs1@EN) –\n> > \n> > > > (a) shall include the heading 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 [Futures Industry (Tasmania) Regulations](/view/html/inforce/2026-04-12/sr-1987-009) .\n> \n> > (3)  A document that is, or purports to be, a copy of the [Futures Industry (Tasmania) Regulations](/view/html/inforce/2026-04-12/sr-1987-009) 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 [subsection (2)](#GS10@Gs2@EN) [(b)](#GS10@Gs2@Hpb@EN) .","sortOrder":11},{"sectionNumber":"11","sectionType":"section","heading":"Publication of  Futures Industry (Fees) (Tasmania) Regulations","content":"### 11 Publication of  Futures Industry (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 [Futures Industry (Fees) Act 1986](/view/html/inforce/2026-04-12/act-9999-999) 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)](#GS11@Gs1@EN) –\n> > \n> > > > (a) shall include the heading 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 [Futures Industry (Fees) (Tasmania) Regulations](/view/html/inforce/2026-04-12/sr-1987-009) .\n> \n> > (3)  A document that is, or purports to be, a copy of the [Futures Industry (Fees) (Tasmania) Regulations](/view/html/inforce/2026-04-12/sr-1987-009) that has been or purports to have been published in accordance with this section is *prima facie* evidence of the provisions of the Schedule to regulations referred to in [section 7](#GS7@EN) as in operation, or to come into operation, in Tasmania as notified in the document in accordance with [subsection (2)](#GS11@Gs2@EN) [(b)](#GS11@Gs2@Hpb@EN) .","sortOrder":12},{"sectionNumber":"12","sectionType":"section","heading":"Publication of provisions of amended Code or regulations","content":"### 12 Publication of provisions of amended 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](/view/html/inforce/2026-04-12/act-9999-999#) ; and\n> > > > > \n> > > > > > (ii) the operation of [section 5](#GS5@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](/view/html/inforce/2026-04-12/act-9999-999#) ; 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 5](#GS5@EN) ; or\n> > > \n> > > > (c) fees that by reason of –\n> > > > \n> > > > > > (i) regulations under the [Futures Industry (Fees) Act 1986](/view/html/inforce/2026-04-12/act-9999-999) of the Commonwealth; and\n> > > > > \n> > > > > > (ii) the operation of [section 7](#GS7@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)](#GS12@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)](#GS12@Gs1@EN) set out in the document.","sortOrder":13},{"sectionNumber":"13","sectionType":"section","heading":"Interpretation of references to the applied provisions","content":"### 13 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 [Futures Industry (Tasmania) Code](/view/html/inforce/2026-04-12/sr-1987-009) is a reference to the provisions of the [Commonwealth Act](/view/html/inforce/2026-04-12/act-9999-999#) applying by reason of [section 5](#GS5@EN) ;\n> > > \n> > > > (b) a reference to a provision of that Code is a reference to the corresponding provisions of the [Commonwealth Act](/view/html/inforce/2026-04-12/act-9999-999#) as so applying;\n> > > \n> > > > (c) a reference to the [Futures Industry (Tasmania) Regulations](/view/html/inforce/2026-04-12/sr-1987-009) is a reference to the provisions of regulations in force under the [Commonwealth Act](/view/html/inforce/2026-04-12/act-9999-999#) 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](/view/html/inforce/2026-04-12/act-9999-999#) as so applying;\n> > > \n> > > > (e) a reference to the [Futures Industry (Fees) (Tasmania) Regulations](/view/html/inforce/2026-04-12/sr-1987-009) is a reference to the Schedule to regulations prescribing fees in force under the [Futures Industry (Fees) Act 1986](/view/html/inforce/2026-04-12/act-9999-999) of the Commonwealth as referred to in [section 7](#GS7@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 prescribing fees in force under that Act as referred to in [section 7](#GS7@EN) .\n> \n> > (2)  In [subsection (1)](#GS13@Gs1@EN) , ***provision*** includes Part, Division, section, subsection, paragraph, subparagraph, Schedule, form, regulation, clause, subclause, and other division.","sortOrder":14},{"sectionNumber":"14","sectionType":"section","heading":"Amendment of certain provisions in accordance with approval of Ministerial Council","content":"### 14 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](/view/html/inforce/2026-04-12/act-1986-999#) ;\n> > > > \n> > > > > (ii) regulations proposed to be made under the [Commonwealth Act](/view/html/inforce/2026-04-12/act-9999-999#) (whether or not amending other regulations);\n> > > > \n> > > > > (iii) a proposed amendment of the [Futures Industry (Fees) Act 1986](/view/html/inforce/2026-04-12/act-9999-999) of the Commonwealth; or\n> > > > \n> > > > > (iv) regulations proposed to be made under the Act referred to in [subparagraph (iii)](#GS14@Hpa@Hqiii@EN) (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)](#GS14@Hpa@EN) –\n> \n> the Governor may make regulations amending [Schedule 1](#JS1@EN) , [2](#JS2@EN) , or [3](#JS3@EN) or [section 7](#GS7@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 7](#GS7@EN) , as the case may be, of this Act.","sortOrder":15},{"sectionNumber":"SCHEDULE 1 - Modifications to ","sectionType":"part","heading":"SCHEDULE 1 - Modifications to the Commonwealth Act","content":"# SCHEDULE 1 - Modifications to  SCHEDULE 1 - Modifications to the Commonwealth Act\n\n*\\[Schedule 1 Amended by S.R. 1989 No. 182 \\]*\n\n[Section 5](#GS5@EN)\n\n[![graphic image](/image/SG0511a.gif)](/image/SG0511a.gif)\n\n[![graphic image](/image/SG0511b.gif)](/image/SG0511b.gif)\n\n[![graphic image](/image/SG0511c.gif)](/image/SG0511c.gif)\n\n[![graphic image](/image/SG0511d.gif)](/image/SG0511d.gif)\n\n[![graphic image](/image/SG0511e.gif)](/image/SG0511e.gif)\n\n[![graphic image](/image/SG0511f.gif)](/image/SG0511f.gif)\n\n[![graphic image](/image/SG0511g.gif)](/image/SG0511g.gif)\n\n[![graphic image](/image/SG0511h.gif)](/image/SG0511h.gif)\n\n[![graphic image](/image/SG0511i.gif)](/image/SG0511i.gif)\n\n[![graphic image](/image/SG0511j.gif)](/image/SG0511j.gif)\n\n[![graphic image](/image/SG0511k.gif)](/image/SG0511k.gif)\n\n[![graphic image](/image/SG0511l.gif)](/image/SG0511l.gif)","sortOrder":16},{"sectionNumber":"SCHEDULE 2 - Modifications to ","sectionType":"part","heading":"SCHEDULE 2 - Modifications to regulations in force under the Commonwealth Act","content":"# SCHEDULE 2 - Modifications to  SCHEDULE 2 - Modifications to regulations in force under the Commonwealth Act\n\n*\\[Schedule 1 Amended by S.R. 1988 No. 75 \\]* *\\[Schedule 1 Amended by S.R. 1989 No. 30 \\]*\n\n[Section 6](#GS6@EN)\n\n[![graphic image](/image/sg0512a.gif)](/image/sg0512a.gif)\n\n[![graphic image](/image/sg0512b.gif)](/image/sg0512b.gif)\n\n[![graphic image](/image/sg0512c.gif)](/image/sg0512c.gif)","sortOrder":17},{"sectionNumber":"SCHEDULE 3 - Modifications to ","sectionType":"part","heading":"SCHEDULE 3 - Modifications to regulations in force under the Futures Industry (Fees) Act 1986 of the Commonwealth","content":"# SCHEDULE 3 - Modifications to  SCHEDULE 3 - Modifications to regulations in force under the Futures Industry (Fees) Act 1986 of the Commonwealth\n\n[Section 7](#GS7@EN)\n\n[![graphic image](/image/sg0513.gif)](/image/sg0513.gif)","sortOrder":18},{"sectionNumber":"SCHEDULE 4 - Publication of fu","sectionType":"part","heading":"SCHEDULE 4 - Publication of futures industry (Tasmania) code","content":"# SCHEDULE 4 - Publication of fu SCHEDULE 4 - Publication of futures industry (Tasmania) code\n\n[Section 9](#GS9@EN)\n\n[![graphic image](/image/sg0514a.gif)](/image/sg0514a.gif)\n\n[![graphic image](/image/sg0514b.gif)](/image/sg0514b.gif)","sortOrder":19},{"sectionNumber":"SCHEDULE 5 - publication of fu","sectionType":"part","heading":"SCHEDULE 5 - publication of futures industry (Tasmania) Regulations","content":"# SCHEDULE 5 - publication of fu SCHEDULE 5 - publication of futures industry (Tasmania) Regulations\n\n[Section 10](#GS10@EN)\n\n[![graphic image](/image/sg0515.gif)](/image/sg0515.gif)","sortOrder":20},{"sectionNumber":"SCHEDULE 6 - Publication of fu","sectionType":"part","heading":"SCHEDULE 6 - Publication of futures industry (Fees) (Tasmania) Regulations","content":"# SCHEDULE 6 - Publication of fu SCHEDULE 6 - Publication of futures industry (Fees) (Tasmania) Regulations\n\n[Section 11](#GS11@EN)\n\n[![graphic image](/image/sg0516.gif)](/image/sg0516.gif)","sortOrder":21}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The legislation appears to maintain its original scope as a machinery provision for applying federal futures industry law to Tasmania. While amended in 2001 (noted in sections 5 and 6), these amendments appear to be technical updates to the application mechanism rather than expansion into new substantive areas. The core purpose — adopting Commonwealth futures law as Tasmanian law — remains unchanged from 1987."},"complexity_factors":["Multiple layers of cross-referencing: applies federal Acts and regulations as modified by Schedules, which themselves cross-reference other application laws (the Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981)","Temporal freezing mechanism: locks in the federal law as at 31 December 1990, creating a static baseline that requires manual updating through regulation-making powers","Six Schedules containing graphic/image placeholders rather than text, meaning the actual modifications are not visible in the legislative text itself","Dual amendment pathways: changes can come via federal Ministerial Council approval (sections 8 and 14) or through the Governor's regulation-making power, with different procedural requirements","Extensive deeming provisions: section 13 creates a complex web of interpretive rules where references to Tasmanian codes/regulations are deemed to be references to the underlying federal provisions","Fee mechanics in section 7 involve multiple conditions, deeming provisions about when documents are \"lodged,\" and discretionary waiver/refund powers"],"plain_english_summary":"This is a Tasmanian law that adopts Commonwealth (federal) futures trading regulations and makes them apply in Tasmania. \n\n**What it does:**\n- Takes the federal *Futures Industry Act 1986* and related regulations, freezes them as they stood on 31 December 1990, and applies them as Tasmanian law\n- Makes specific changes (called \"modifications\") to those federal laws so they work properly at the state level — for example, changing references to federal agencies to Tasmanian ones\n- Sets up a system where fees for things like registering documents or getting licences go to Tasmania's Commissioner for Corporate Affairs\n- Allows the Tasmanian Governor to update the applied laws when the federal Ministerial Council approves changes\n- Lets the Minister publish consolidated versions of these adopted laws as the \"Futures Industry (Tasmania) Code\" and related regulations\n\n**Who it affects:**\n- Anyone trading in futures contracts (agreements to buy or sell something at a future date) in Tasmania\n- Businesses that need to register or get licences under futures industry laws\n- The Commissioner for Corporate Affairs (who collects fees and handles administration)\n\n**Why it matters:**\nBefore national corporations law was fully federalised in 2001, states had to \"apply\" federal laws using this kind of \"mirror legislation.\" This Act ensured Tasmania had the same futures trading rules as the rest of Australia, creating a national market while technically keeping the law as state law. It's now largely historical — the *Corporations Act 2001* eventually replaced this whole scheme with direct federal law."},"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"},"summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"Based on the available information, the Act appears to have retained its original narrow purpose: applying Commonwealth futures industry laws within Tasmania as part of a cooperative national regulatory scheme. No evidence of scope expansion is apparent from the text provided, though the practical relevance of the Act has likely diminished as national financial services regulation (particularly under the Corporations Act 2001) has superseded much of the original framework it was designed to support."},"complexity_factors":["Involves cooperative federalism — understanding the interplay between state and Commonwealth law requires some constitutional knowledge","The futures industry itself is a specialised financial sector with its own terminology","Limited text is available in the provided excerpt, making full analysis of specific provisions impossible","The regulatory context has evolved significantly since 1987, meaning the Act's current practical operation may be unclear without cross-referencing multiple pieces of legislation","Application-of-laws mechanisms can create interpretive complexity about which specific rules are being 'picked up' and how they interact with current law"],"plain_english_summary":"This short Tasmanian Act adopts and applies Commonwealth futures-industry laws within Tasmania, effectively treating the federal regulatory rules as Tasmanian law. It was part of a cooperative federal approach used when national futures regulation was introduced in the late 1980s.\n\nIt primarily affects futures brokers, dealers, investors and related financial firms with Tasmanian connections, and today remains a technical vehicle linking the state to the national regulatory framework."},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":false,"description":"The Act's core scope is to adopt and operate the Commonwealth Futures Industry Act and its regulations as Tasmanian law (s5–6). It does not expand the subject‑matter beyond that framework but fixes the adopted Commonwealth text to 31 December 1990 and supplies Tasmania‑specific modifications in the Schedules; it also creates mechanisms to reflect later approvals or amendments via Governor regulations after Ministerial Council approval (s5,8,14)."},"complexity_factors":["Cross‑jurisdictional incorporation: applies a Commonwealth Act and its regulations as Tasmanian law (s5–6).","Temporal freeze: adopts the Commonwealth Act and regs as in force on 31 December 1990, requiring schedules for local modifications (s5).","Extensive Schedules: numerous textual modifications are implemented by Schedules 1–3, increasing drafting detail and mapping tasks (Schedules 1–3).","Fee design and administration: fees payable to the State via the Commissioner with operational withholding rules and waiver/refund discretion (s7).","Delegated amendment powers: Governor may make regulations to give effect to Ministerial Council approvals or to adopt amendments when Commonwealth process stalls (s8,14).","Publication and evidence rules: government‑published ‘Code’ and regulations are prima facie evidence, affecting proof and compliance practice (s9–12).","Interdependence on intergovernmental Agreement and Ministerial Council approvals creates coordination and timing risks (s3,14).","Cross‑references to other Acts and regulations, including fee regulations under a separate Commonwealth Act, increase interpretive load (s3,6,7)."],"plain_english_summary":"This Act applies the Commonwealth Futures Industry Act and its regulations to Tasmania (with the modifications listed in the Schedules) and designates the Commissioner for Corporate Affairs to collect associated fees. \n\nIt affects futures market participants, the Ministerial Council, the National Commission and the State: it fixes the Commonwealth text adopted to 31 December 1990 (s5), sets who pays fees and when actions are withheld for non‑payment (s7), provides publication and evidentiary rules (s9–12), and permits the Governor to make amendment regulations after Ministerial Council approval (s8,14)."},"issue_detection":{"absurdities":[],"contradictions":[]}},"importantCases":[],"_links":{"self":"/api/acts/futures-industry-application-of-laws-act-1987","history":"/api/acts/futures-industry-application-of-laws-act-1987/history","analysis":"/api/acts/futures-industry-application-of-laws-act-1987/analysis","conflicts":"/api/acts/futures-industry-application-of-laws-act-1987/conflicts","importantCases":"/api/acts/futures-industry-application-of-laws-act-1987/important-cases","documents":"/api/acts/futures-industry-application-of-laws-act-1987/documents"}}