Commonwealth legislation

Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 - Proclamation

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 is an official proclamation (formal announcement) by the Governor-General that activates specific parts of the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009.

What it does:

Sets 1 January 2010 as the date when certain provisions of the Act commence (come into force and become legally binding)
Specifically activates Schedule 1 (a major section of the Act containing substantive amendments) and items 2 and 3 of Schedule 3

Who it affects: Financial services businesses, corporations, and consumers who must comply with the new rules from 1 January 2010 onwards.

Why it matters: Australian laws often pass Parliament but do not take effect immediately. This document is the legal trigger that switches on these specific financial services reforms on the nominated date.

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Current sections

Direct links to the current provisions in Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 - Proclamation.

Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 - Proclamation

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Proclamation

Corporations Legislation Amendment (Financial Services Modernisation) Act 2009

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and under subsection 2 (1) of the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009, fix 1 January 2010 as the day on which Schedule 1 to that Act, and items 2 and 3 of Schedule 3 to that Act, commence.

Signed and sealed with the Great Seal of Australia on 14 December 2009.

QUENTIN BRYCE Governor-General

By Her Excellency’s Command

CHRIS BOWEN

Minister for Financial Services, Superannuation and Corporate Law

Source text

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