Corporations Legislation Amendment (Simpler Regulatory System) Act 2007 - Proclamation

This document is a formal proclamation (official announcement) that switches on specific parts of the Corporations Legislation Amendment (Simpler Regulatory System) Act 2007.

What it does:

Sets 1 September 2007 as the commencement date (the day they become law) for specific items: numbers 198 to 215, plus 221 and 222, found in Part 3 of Schedule 1 of the parent Act
These provisions form part of broader reforms to simplify corporate regulation

Who it affects:

Companies, directors, and financial services providers who must follow the specific rules being activated
The Australian Securities and Investments Commission (ASIC), which enforces these provisions

Why it matters: Parliament can pass laws, but they often don't take effect until a later date is officially announced. This document is that official announcement for these particular sections. Without it, those specific corporate law changes would remain inactive.

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Proclamation

Corporations Legislation Amendment (Simpler Regulatory System) Act 2007

I, PHILIP MICHAEL JEFFERY, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and under item 4 of the table in subsection 2 (1) of the Corporations Legislation Amendment (Simpler Regulatory System) Act 2007, fix 1 September 2007 as the day on which items 198 to 215, 221 and 222 of Part 3 of Schedule 1 to that Act commence.

Signed and sealed with the Great Seal of Australia on 22 August 2007

P. M. JEFFERY Governor‑General

By His Excellency’s Command

CHRISTOPHER JOHN PEARCE

Parliamentary Secretary to the Treasurer