{"id":"tas:act-1981-029","name":"Securities Industry (Application of Laws) Act 1981","slug":"securities-industry-application-of-laws-act-1981","collection":"act","jurisdiction":"tas","status":"in_force","isInForce":true,"actNumber":"29 of 1981","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":110060,"registerId":"tas-act-1981-029-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 [Securities Industry (Application of Laws) Act 1981](/view/html/inforce/2026-04-12/act-1981-029) .","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 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":2},{"sectionNumber":"3","sectionType":"section","heading":"Interpretation","content":"### 3 Interpretation\n\n> *\\[Section 3 Amended by No. 68 of 1994, s. 3 and Sched. 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 Australian Securities Commission established under the *Australian Securities Commission Act 1989* of the Commonwealth;\n> \n> > ***Commissioner for Corporate Affairs*** means the Commissioner for Corporate Affairs for Tasmania and includes any Deputy or Assistant Commissioner for Corporate Affairs;\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 6](#GS6@EN) and [7](#GS7@EN) ;\n> \n> > ***the Commonwealth Act*** means the *Securities Industry Act 1980* of the Commonwealth.","sortOrder":3},{"sectionNumber":"4","sectionType":"section","heading":"References to Commonwealth Acts","content":"### 4 References to Commonwealth Acts\n\n> 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":4},{"sectionNumber":"5","sectionType":"section","heading":"Interpretation of  Securities Industry (Tasmania) Code","content":"### 5 Interpretation of  Securities 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 [Securities Industry (Tasmania) Code](/view/html/inforce/2026-04-12/act-1981-029) .","sortOrder":5},{"sectionNumber":"Part II","sectionType":"part","heading":"Application of Laws","content":"# Part II Application of Laws","sortOrder":6},{"sectionNumber":"6","sectionType":"section","heading":"Application of Securities Industry Act 1980 of the Commonwealth","content":"### 6 Application of Securities Industry Act 1980 of the Commonwealth\n\n> [*\\[Section 6 Amended by No. 41 of 2001, s. 27, Applied:15 Jul 2001\\]*](/view/html/inforce/2001-07-15/act-2001-041#GS27@Hpa@EN) Subject to this Act, the provisions of the Commonwealth Act as in force on 31 December 1990, other than sections 1, 2, and 3, 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":7},{"sectionNumber":"7","sectionType":"section","heading":"Application of regulations under Securities Industry Act 1980 of the Commonwealth","content":"### 7 Application of regulations under Securities Industry Act 1980 of the Commonwealth\n\n> [*\\[Section 7 Amended by No. 41 of 2001, s. 27, Applied:15 Jul 2001\\]*](/view/html/inforce/2001-07-15/act-2001-041#GS27@Hpb@EN) Subject to this Act, the provisions of regulations in force on 31 December 1990 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 6](#GS6@EN) .","sortOrder":8},{"sectionNumber":"8","sectionType":"section","heading":"Fees payable","content":"### 8 Fees payable\n\n> > (1)  *\\[Section 8 Subsection (1) amended by S.R. 1981 No. 244 \\]*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 *Securities Industry (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 have 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)](#GS8@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)](#GS8@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":9},{"sectionNumber":"9","sectionType":"section","heading":"Amendment of Regulations pursuant to Agreement","content":"### 9 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 *Securities Industry (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 7](#GS7@EN) or the regulations referred to in [section 8](#GS8@EN) , as the case may be.\n> \n> > (2)  Regulations made by the Governor under [subsection (1)](#GS9@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 7](#GS7@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 *Securities Industry (Fees) Act 1980* of the Commonwealth includes a reference to those regulations as amended in accordance with this section.","sortOrder":10},{"sectionNumber":"10","sectionType":"section","heading":"Publication of  Securities Industry (Tasmania) Code","content":"### 10 Publication of  Securities 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 (other than sections 1, 2, and 3), 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)](#GS10@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 [Securities Industry (Tasmania) Code](/view/html/inforce/2026-04-12/act-1981-029) .\n> \n> > (3)  A document that is or purports to be a copy of the [Securities Industry (Tasmania) Code](/view/html/inforce/2026-04-12/act-1981-029) 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 6](#GS6@EN) as in operation, or to come into operation, in Tasmania as notified in the document in accordance with [paragraph (b)](#GS10@Gs2@Hpb@EN) of [subsection (2)](#GS10@Gs2@EN) .","sortOrder":11},{"sectionNumber":"11","sectionType":"section","heading":"Publication of Securities Industry (Tasmania) Regulations","content":"### 11 Publication of Securities 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, 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)](#GS11@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 *Securities Industry (Tasmania) Regulations*.\n> \n> > (3)  A document that is or purports to be a copy of the *Securities Industry (Tasmania) Regulations* 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 7](#GS7@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":12},{"sectionNumber":"12","sectionType":"section","heading":"Publication of Securities Industry (Fees) Regulations","content":"### 12 Publication of Securities Industry (Fees) 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 *Securities Industry (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)](#GS12@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 *Securities Industry (Fees) (Tasmania) Regulations*.\n> \n> > (3)  A document that is or purports to be a copy of the *Securities Industry (Fees) (Tasmania) Regulations* 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 8](#GS8@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":13},{"sectionNumber":"13","sectionType":"section","heading":"Publication of provisions amending code or regulations","content":"### 13 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 6](#GS6@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 7](#GS7@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 6](#GS6@EN) ; or\n> > > \n> > > > (c) fees that by reason of –\n> > > > \n> > > > > > (i) regulations under the *Securities Industry (Fees) Act 1980* of the Commonwealth; and\n> > > > > \n> > > > > > (ii) the operation of [section 8](#GS8@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)](#GS13@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)](#GS13@Gs1@EN) set out in the document.","sortOrder":14},{"sectionNumber":"14","sectionType":"section","heading":"Interpretation of references to the applied provisions","content":"### 14 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 [Securities Industry (Tasmania) Code](/view/html/inforce/2026-04-12/act-1981-029) is a reference to the provisions of the Commonwealth Act applying by reason of [section 6](#GS6@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 *Securities Industry (Tasmania) Regulations* is a reference to the provisions of regulations in force under the Commonwealth Act applying by reason of [section 7](#GS7@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 *Securities Industry (Fees) (Tasmania) Regulations* is a reference to the Schedule to regulations prescribing fees under the *Securities Industry (Fees) Act 1980* of the Commonwealth as referred to in [section 8](#GS8@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 8](#GS8@EN) .\n> \n> > (2)  In [subsection (1)](#GS14@Gs1@EN) , ***provision*** includes Part, Division, section, subsection, paragraph, subparagraph, Schedule, form, regulation, clause, subclause, or other division.","sortOrder":15},{"sectionNumber":"15","sectionType":"section","heading":"Amendment of certain provisions in accordance with approval of Ministerial Council","content":"### 15 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 *Securities Industry (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)](#GS15@Hpa@EN) –\n> \n> the Governor may make regulations amending [Schedule 1](#JS1@EN) , [2](#JS2@EN) , or [3](#JS3@EN) or [section 8](#GS8@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 8](#GS8@EN) , as the case may be, of this Act.","sortOrder":16},{"sectionNumber":"16","sectionType":"section","heading":"Exemptions from definition of \"prescribed interest\"","content":"### 16 Exemptions from definition of \"prescribed interest\"\n\n> *\\[Section 16 Inserted by No. 9 of 1982, s. 4 and Sched. 2 \\]*\n> \n> > (1)  *\\[Section 16 Subsection (1) amended by No. 46 of 1991, s. 4 and Sched. 2 \\]*Where the Ministerial Council approves an exemption of a right or interest, or a right or interest included in a class or kind of rights or interests, to be an exempt right or interest or a class or kind of exempt rights or interests for the purposes of the definition of ***prescribed interest*** in [section 4 (1) of the](/view/html/inforce/2026-04-12/act-1981-029#GS4@Gs1@EN) [Securities Industry (Tasmania) Code](/view/html/inforce/2026-04-12/act-1981-029) , the Governor may make regulations declaring that right or interest, or a right or interest included in that class or kind of rights or interests, to be an exempt right or interest or a class or kind of exempt rights or interests for the purposes of that definition.\n> \n> > (2)  Regulations under [subsection (1)](#GS16@Gs1@EN) shall be construed as one with the *Securities Industry (Tasmania) Regulations*.","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. 4 and Scheds. 2, 3 and 4 \\]* *\\[Schedule 1 Amended by S.R.1982 No. 85 \\]* *\\[Schedule 1 Amended by S.R. 1983 No. 278 \\]* *\\[Schedule 1 Amended by S.R. 1984 No. 157 \\]* *\\[Schedule 1 Amended by S.R. 1986 No. 128 \\]* *\\[Schedule 1 Amended by S.R. 1987 No. 58 \\]* *\\[Schedule 1 Amended by S.R. 1987 No. 103 \\]* *\\[Schedule 1 Amended by S.R. 1989 No. 183 \\]*\n\n[Section 6](#GS6@EN)\n\n[![graphic image](/image/SIALsch1p1.gif)](/image/SIALsch1p1.gif)\n\n[![graphic image](/image/SIALsch1p2.gif)](/image/SIALsch1p2.gif)\n\n[![graphic image](/image/SIALsch1p3.gif)](/image/SIALsch1p3.gif)\n\n[![graphic image](/image/SIALsch1p4.gif)](/image/SIALsch1p4.gif)\n\n[![graphic image](/image/SIALsch1p5.gif)](/image/SIALsch1p5.gif)\n\n[![graphic image](/image/SIALsch1p6.gif)](/image/SIALsch1p6.gif)\n\n[![graphic image](/image/SIALsch1p7.gif)](/image/SIALsch1p7.gif)\n\n[![graphic image](/image/SIALsch1p8.gif)](/image/SIALsch1p8.gif)\n\n[![graphic image](/image/SIALsch1p9.gif)](/image/SIALsch1p9.gif)\n\n[![graphic image](/image/SIALsch1p10.gif)](/image/SIALsch1p10.gif)\n\n[![graphic image](/image/SIALsch1p11.gif)](/image/SIALsch1p11.gif)\n\n[![graphic image](/image/SIALsch1p12.gif)](/image/SIALsch1p12.gif)\n\n[![graphic image](/image/SIALsch1p13.gif)](/image/SIALsch1p13.gif)\n\n[![graphic image](/image/SIALsch1p14.gif)](/image/SIALsch1p14.gif)\n\n[![graphic image](/image/SIALsch1p15.gif)](/image/SIALsch1p15.gif)\n\n[![graphic image](/image/SIALsch1p16.gif)](/image/SIALsch1p16.gif)\n\n[![graphic image](/image/SIALsch1p17.gif)](/image/SIALsch1p17.gif)\n\n[![graphic image](/image/SIALsch1p18.gif)](/image/SIALsch1p18.gif)\n\n[![graphic image](/image/SIALsch1p19.gif)](/image/SIALsch1p19.gif)\n\n[![graphic image](/image/SIALsch1p20.gif)](/image/SIALsch1p20.gif)\n\n[![graphic image](/image/SIALsch1p21.gif)](/image/SIALsch1p21.gif)\n\n[![graphic image](/image/SIALsch1p22.gif)](/image/SIALsch1p22.gif)\n\n[![graphic image](/image/SIALsch1p23.gif)](/image/SIALsch1p23.gif)\n\n[![graphic image](/image/SIALsch1p24.gif)](/image/SIALsch1p24.gif)\n\n[![graphic image](/image/SIALsch1p25.gif)](/image/SIALsch1p25.gif)\n\n[![graphic image](/image/SIALsch1p26.gif)](/image/SIALsch1p26.gif)\n\n[![graphic image](/image/SIALsch1p27.gif)](/image/SIALsch1p27.gif)\n\n[![graphic image](/image/SIALsch1p28.gif)](/image/SIALsch1p28.gif)\n\n[![graphic image](/image/SIALsch1p30.gif)](/image/SIALsch1p30.gif)\n\n[![graphic image](/image/SIALsch1p31.gif)](/image/SIALsch1p31.gif)\n\n[![graphic image](/image/SIALsch1p32.gif)](/image/SIALsch1p32.gif)\n\n[![graphic image](/image/SIALsch1p33.gif)](/image/SIALsch1p33.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 No. 9 of 1982, s. 4 and Sched. 2 \\]* *\\[Schedule 2 Amended by S.R. 1982 No. 112 \\]*\n\n[Section 7](#GS7@EN)\n\n[![graphic image](/image/SG0206.gif)](/image/SG0206.gif)","sortOrder":19},{"sectionNumber":"SCHEDULE 3 - Application of Re","sectionType":"part","heading":"SCHEDULE 3 - Application of Regulations under Securities Industry (Fees) Act 1980 of the Commonwealth","content":"# SCHEDULE 3 - Application of Re SCHEDULE 3 - Application of Regulations under Securities Industry (Fees) Act 1980 of the Commonwealth\n\n[Section 8](#GS8@EN)\n\n[![graphic image](/image/SG0207.gif)](/image/SG0207.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 10](#GS10@EN)\n\n[![graphic image](/image/SG0208a.gif)](/image/SG0208a.gif)\n\n[![graphic image](/image/SG0208b.gif)](/image/SG0208b.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 11](#GS11@EN)\n\n[![graphic image](/image/SG0209.gif)](/image/SG0209.gif)","sortOrder":22},{"sectionNumber":"SCHEDULE 6 - Headings and Prov","sectionType":"part","heading":"SCHEDULE 6 - Headings and Provisions for Inclusion in Publication of Regulations under Securities Industry (Fees) Act 1980 of the Commonwealth","content":"# SCHEDULE 6 - Headings and Prov SCHEDULE 6 - Headings and Provisions for Inclusion in Publication of Regulations under Securities Industry (Fees) Act 1980 of the Commonwealth\n\n[Section 12](#GS12@EN)\n\n[![graphic image](/image/SG0210a.gif)](/image/SG0210a.gif)\n\n[![graphic image](/image/SG0210b.gif)](/image/SG0210b.gif)","sortOrder":23}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":true,"description":"The original 1981 Act was designed to apply the then-current Commonwealth Securities Industry Act 1980 as part of a live, evolving co-operative scheme. However, the 2001 amendments (No. 41 of 2001) 'froze' the applied law at 31 December 1990, converting the Act from a dynamic 'mirror' of current federal law into a static historical snapshot. This fundamentally changed the scope from maintaining current uniformity with Commonwealth law to preserving a specific historical version, effectively making the Act a heritage preservation mechanism rather than an active harmonisation tool. The scope shifted from 'apply current federal law' to 'apply federal law as it stood in 1990'."},"complexity_factors":["Multiple layers of adopted law: the Act applies federal legislation 'as in force on 31 December 1990' with amendments set out in Schedules 1-3, creating a 'frozen in time' base text with patchwork updates","Extensive cross-referencing: constant references to the 'Commonwealth Act', 'applied provisions', 'Agreement', 'Ministerial Council', and companion legislation (the Companies and Securities (Interpretation and Miscellaneous Provisions) (Application of Laws) Act 1981)","Six defined terms in section 3, but heavy reliance on defined terms from the adopted Commonwealth Act and the companion Interpretation Act","Conditional operation: sections 6 and 7 apply federal law 'subject to this Act' and 'subject to and in accordance with' the companion Interpretation Act","Delegated legislative mechanisms: sections 9 and 15 create complex pathways where the Ministerial Council approves amendments, then the Tasmanian Governor makes regulations to update Schedules 1-3 or section 8","Multiple publication and evidentiary schemes: sections 10-13 create parallel publication systems for the Code, Regulations, and Fees Regulations, each with prima facie evidence rules","Nested amendment procedures: Schedule amendments require Ministerial Council approval under section 15, then Governor-in-Council regulations, then publication under sections 10-12","Fee mechanics in section 8 are conditional and layered: fees deemed not lodged until paid (subsection 2), acts not done until paid (subsection 3), but with waiver/refund powers (subsection 5)"],"plain_english_summary":"This is a Tasmanian law that adopts (or 'applies') Commonwealth (federal) securities industry laws so they operate as Tasmanian law. \n\n**What it does:**\n- Takes the federal *Securities Industry Act 1980* (as it stood on 31 December 1990) and makes it apply in Tasmania as if it were a Tasmanian law called the **Securities Industry (Tasmania) Code**.\n- Does the same for regulations made under that federal Act, turning them into **Securities Industry (Tasmania) Regulations**.\n- Sets up a system where fees for things like lodging documents, registering securities, or getting licences are paid to Tasmania's Commissioner for Corporate Affairs (not the federal government).\n- Allows the Tasmanian Governor to make regulations that amend how the federal laws apply in Tasmania, but only when approved by the **Ministerial Council for Companies and Securities** — a body set up under a 1978 agreement between the Commonwealth and the States to coordinate company and securities regulation.\n- Provides for official publication of these 'Tasmanian' versions of the federal laws so people know what the law actually says.\n\n**Who it affects:**\n- Anyone dealing with securities (shares, investments, etc.) in Tasmania — brokers, companies, investors.\n- The **Australian Securities Commission** (now ASIC) and Tasmania's **Commissioner for Corporate Affairs**, who share regulatory responsibilities.\n- The Tasmanian Government, which collects fees and publishes the local versions of the laws.\n\n**Why it matters:**\nBefore this law, securities regulation was a mess of different state and federal rules. This was part of a national scheme (the 'co-operative scheme') to have consistent laws across Australia while letting each State technically 'own' the law within its borders. It meant Tasmanian courts could enforce securities laws, and Tasmanian officials could handle local administration, even though the substance of the law came from Canberra."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"summary":{"complexity_score":4,"scope_assessment":{"changed":true,"description":"Originally intended to create a uniform national securities regulatory framework by having Tasmania apply the same laws as other states and the Commonwealth. In practice, the scope has effectively narrowed over time — the Commonwealth's Corporations Act 2001 and the establishment of ASIC absorbed most securities regulation at the federal level, leaving this Act with little active operation despite remaining technically in force."},"complexity_factors":["The Act operates by reference to external laws rather than standing alone, requiring cross-referencing with Commonwealth and other jurisdictions' legislation to understand its full effect","Its practical relevance is uncertain given the subsequent Commonwealth takeover of securities regulation via the Corporations Act 2001 and ASIC framework","Limited text is available in the excerpt, making it difficult to assess internal drafting complexity","Historical context (cooperative scheme legislation of the 1980s) requires background knowledge to properly interpret","The interplay between state referral powers and Commonwealth legislative supremacy adds a constitutional dimension"],"plain_english_summary":"## Securities Industry (Application of Laws) Act 1981 (Tasmania)\n\nThis is a Tasmanian law from 1981 that was designed to apply national (Commonwealth or other states') securities industry laws within Tasmania. In practical terms, it works as a **'referral' or 'application' statute** — meaning Tasmania essentially agreed to adopt and apply a uniform national framework for regulating the securities industry (stocks, shares, and financial instruments trading) rather than creating its own separate rules.\n\n**Who does this affect?**\n- Stockbrokers, financial dealers, and securities market participants operating in Tasmania\n- Investors buying or selling securities (shares, bonds, etc.) in Tasmania\n- Companies listed or raising funds from Tasmanian investors\n\n**Why does it matter?**\nIt was part of Australia's mid-20th century effort to create a consistent, nationwide approach to regulating financial markets. Without laws like this, each state could have wildly different rules, making cross-border investing complicated and risky.\n\n**Current status:** The law has been on the books since 1981 and appears largely unchanged since at least 2001. In practice, securities regulation in Australia has since been largely taken over by the Commonwealth through ASIC (the Australian Securities and Investments Commission) and the *Corporations Act 2001*, meaning this Act may now have limited practical operation — but it technically remains on the books."},"issue_detection":{"absurdities":[{"type":"other","section":"Status Information / Currency of version","severity":"medium","reasoning":"A version described as current 'from 15 July 2001 to date' with a file modification date of 2 March 2026 implies the document has been altered without a corresponding update to the currency metadata, undermining the reliability of the currency representation itself.","confidence":0.55,"description":"The Act is described as 'current from 15 July 2001 to date' yet the file was last modified on 2 March 2026, suggesting substantive amendments have occurred while the currency date remains static. This creates an ambiguity about whether the version displayed is actually current."},{"type":"other","section":"Status Information - Update Commitment","severity":"low","reasoning":"The word 'usually' creates a non-binding and unenforceable standard. Combined with the apparent discrepancy between the stated currency date and the file modification date, the reliability guarantee is circular and unverifiable.","confidence":0.45,"description":"The site states legislation is 'usually updated within 3 working days after a change' but provides no mechanism or obligation to verify this claim, and the static currency date of 15 July 2001 alongside a 2026 modification date suggests the commitment may not have been consistently honoured for this instrument."}],"contradictions":[{"severity":"medium","section_a":"Currency of version: 'Version current from 15 July 2001 to date'","section_b":"Authorisation: 'File last modified 2 March 2026'","confidence":0.65,"description":"The version is stated to be current 'from 15 July 2001 to date', implying no substantive change since that date, yet the file was last modified on 2 March 2026. These two statements are in direct tension: either the file was modified in a way that changed the legislation (contradicting the static currency start date) or the file was modified in a way that did not change the legislation (making the modification date misleading)."}]}},"importantCases":[],"_links":{"self":"/api/acts/securities-industry-application-of-laws-act-1981","history":"/api/acts/securities-industry-application-of-laws-act-1981/history","analysis":"/api/acts/securities-industry-application-of-laws-act-1981/analysis","conflicts":"/api/acts/securities-industry-application-of-laws-act-1981/conflicts","importantCases":"/api/acts/securities-industry-application-of-laws-act-1981/important-cases","documents":"/api/acts/securities-industry-application-of-laws-act-1981/documents"}}