Commonwealth legislation

ASIC Class Order [CO 91/27]

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This Class Order fixes New South Wales standard time (Sydney time) as the official "standard time" for the entire country under the Corporations Law.

What it does: Whenever the Corporations Law mentions "standard time" — for example, when setting deadlines for company reports or the timing of shareholder meetings — it legally means the time in New South Wales. This applies to all Australian companies, regardless of which state or territory they operate from.

Why this exists: Without this rule, a company in Perth might interpret a national deadline differently than one in Melbourne because of time zone differences. By linking "standard time" to NSW time (as defined by the Standard Time Act 1987 (NSW)), the Australian Securities Commission ensured everyone works to the same clock for corporate law purposes.

In simple terms: For corporate legal deadlines, Australia runs on Sydney time.

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Current sections

Direct links to the current provisions in ASIC Class Order [CO 91/27].

ASIC Class Order [CO 91/27]

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8 meta-generator: Aspose.Words for .NET 20.2 title: AUSTRALIAN SECURITIES COMMISSION

?xml version="1.0" encoding="utf-8" standalone="no"?>

AUSTRALIAN SECURITIES COMMISSION

CORPORATIONS LAW

DECLARATION UNDER SUBSECTION 265A(1)

PURSUANT to subsection 265A(1) of the Corporations Law, the AUSTRALIAN SECURITIES COMMISSION HEREBY DECLARES that the standard time for the purposes of section 265 of the Corporations Law shall be New South Wales standard time determined in accordance with the Standard Time Act 1987 of the State of New South Wales.

Dated 11th February 1991.

The Common Seal of the Australia )

Securities Commission was duly )

affixed hereto in accordance with )

a resolution of the Commission )

dated 24 January 1991 in the )

presence of the Members: )

View image in the official source View image in the official source

91-00522\L-5147GD

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.