Part 6MISCELLANEOUS

PART 6—MISCELLANEOUS 174. Section 9 of the Corporations Law is amended by inserting the following definition: “ ‘Department’, in a case where a provision uses the expression ‘the Department’ without specifying which Department is referred to, means: (a) if the Minister or Ministers for the time being administering the Corporations Act 1989 administers or administer only one Department of State of the Commonwealth—that Department; or (b) otherwise—the Department of State of the Commonwealth prescribed for the purposes of this definition as it applies for the purposes of that provision;”. Address of registered office etc. 175. Section 100 of the Corporations Law is amended: (a) by omitting from paragraph (1)(d) “shall be accompanied by a written statement, signed by an officer of the body,” and substituting “must include a written statement”; (b) by inserting in subsection (2) “notice that includes a” after “lodged a”. Return of allotment 176. Section 187 of the Corporations Law is amended: (a) by omitting from subsection (3) everything after “contract in writing,” and substituting the following: “the company must: (a) lodge with the return the contract evidencing the allottee’s entitlement, or a certified copy of that contract; and (b) lodge: (i) if the regulations prescribe for the purposes of this paragraph a period ending after the return is lodged—within that period; or (ii) otherwise—with the return; a certificate to the effect that the contract referred to in paragraph (a) has been duly stamped as required by any applicable law relating to stamp duty.”; (b) by omitting subsection (4) and substituting the following subsections: “(4) If the Commission considers it appropriate to do so in a particular case, the Commission may by writing authorise a company to lodge a certificate under paragraph (3)(b) within a period that is specified in the authorisation and ends after: (a) if subparagraph (3)(b)(i) applies—the period referred to in that subparagraph; or (b) otherwise—the return is lodged. “(4A) An authorisation under subsection (4) has effect despite paragraph (3)(b), but the company must lodge the certificate within the period specified in the authorisation.”. 177. After section 335 of the Corporations Law the following section is inserted: Company’s address for service for the purposes of section 335 “335A.(1) A company may lodge a notice in the prescribed form specifying its address for service for the purposes of section 335. “(2) A company may lodge a notice in the prescribed form stating that the company no longer has an address for service for the purposes of section 335. “(3) A notice lodged under subsection (1) or (2) takes effect at the beginning of: (a) if the notice specifies, as the day on which it is to take effect, a day that is more than 7 days after the day of lodgment—the day so specified; or (b) otherwise—the eighth day after the day of lodgment. “(4) The Commission may serve a document on a company under subsection 335(2) by leaving it at, or sending it by post to, the address specified in: (a) if only one notice lodged by the company under subsection (1) has taken effect—that notice; or (b) if 2 or more such notices have taken effect—the later or latest such notice to take effect; unless a notice lodged by the company under subsection (2) has taken effect since the notice referred to in paragraph (a) or (b) of this subsection took effect. “(5) The address specified in a notice under subsection (1) need not be the address of particular premises, but may be a postal address, for example, a post office box number at a post office. “(6) This section does not affect the operation of any other provision of this Law or any other law of the Commonwealth or of this jurisdiction that authorises a document to be served otherwise than as provided in subsection (4).”. Exemption of certain companies 178. Section 337 of the Corporations Law is amended by omitting from subsection (1) “Division” (twice occurring) and substituting “Part”. 179. Before section 1346 of the Corporations Law the following section is inserted in Part 9.9: Minister may delegate prescribed functions and powers under this Law “1345A.(1) The Minister may, by signed instrument, delegate to an officer of the Department such of the Minister’s functions and powers under this Law as are prescribed. “(2) A delegate is, in the performance or exercise of a delegated function or power, subject to the Minister’s directions.”. Division 2—Amendments of the Australian Securities Commission Act 19892 Functions and powers 180. Section 226 of the Principal Act is amended: (a) by inserting after subsection (4) the following subsection: “(4A) The Standards Board must, so far as it is reasonably practicable to do so, ensure that the New Zealand authority is consulted in the course of: (a) the development of possible accounting standards; and (b) the review of proposed accounting standards.”; (b) by inserting in subsection (5) the following definition: “ ‘New Zealand authority’ means the person or authority that in New Zealand has functions that are analogous to the functions of the Standards Board.”. Liability for damages 181. Section 246 of the Principal Act is amended: (a) by inserting before paragraph (a) the following paragraph: “(aa) the Minister;”; (b) by adding at the end the following subsection: “(2) The protection from liability given by subsection (1) to the Minister applies only in respect of acts done, and omissions occurring, after the commencement of section 181 of the Corporate Law Reform Act 1992”.