Commonwealth legislation

Corporations (Review Fees) Regulations 2003

In ForceCTH

Jurisdiction

Commonwealth

Act Number

160 of 2003

Collection

legislative instrument

Plain English Summary

5/10 complexity

These regulations set the fees that companies, registered schemes and notified foreign passport funds must pay for statutory “review dates” under the Corporations (Review Fees) Act 2003. They specify annual, upfront and late fees, identify exempt categories, and set mechanics for updating amounts.

Fees come from tables in Schedule 1 and are index-linked from 2025 by the CPI (with rounding and a $10,000 cap); there are transitional rules (including special treatment for CCIVs and upfront pre‑payment arrangements).

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What it does

These Regulations prescribe the amounts and mechanics for review fees payable in relation to review dates for companies, registered schemes and notified foreign passport funds under the Corporations (Review Fees) Act 2003 and, by reference, the Corporations Act 2001. The operative mechanics are: (a) which entities pay and the fee categories (annual, upfront, and late fees) are set by Schedule 1 and reg 4(1)-(3); (b) the quantum for the financial year starting 1 July 2024 is fixed by reference to the amounts in Schedule 1 (reg 4(5)); (c) from 1 July 2025 onwards indexed adjustment is implemented by a CPI formula if the latest CPI exceeds an earlier CPI, otherwise fees are frozen (reg 4(6)-(7)); (d) certain second review dates in the same financial year attract no fee (reg 5(1)-(2)); and (e) paying an upfront fee before a review can preclude further fees for 10 years (reg 4(2)(b)).

Concrete outputs in the instrument include three numerical tables in Schedule 1: Annual fees (Schedule 1, Part 1), Upfront fees (Schedule 1, Part 2) and Late fees (Schedule 1, Part 3). Examples from the tables: an annual fee for a public company (except a special purpose company or a small transferring financial institution) is $1,492 (Schedule 1, Annual fees, item 1); an upfront fee for a public company in the same category is $10,000 (Schedule 1, Upfront fees, item 1); and late fees are $96 if paid within one month late and $401 if paid more than one month late (Schedule 1, Late fees, items 1-2). The Regulations impose a $10,000 statutory cap on any review-fee amount derived under the indexing rules (reg 4(4)(b)(ii)).

The Regulations set definitional detail that matters for fee treatment, notably the definitions of "small transferring financial institution" and "special purpose company" (reg 3(1)). They also specify indexation mechanics (the All Groups CPI, definitions of earlier and latest CPI numbers, rounding rules and how to treat substituted CPI publications or a change in CPI reference base) (reg 4(6)-(10)). Two amendment/transitional divisions are included: an indexation carve-out for CCIVs inserted by the 2022 amending regulations (reg 6) and transitional provisions for the 2025 amending regulations that address upfront payments paid before commencement and timing of the application of the amended fee amounts (reg 7). The regulations link to other Acts and provisions when applying exemptions or conditions, for example the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998, Life Insurance Supervisory Levy Imposition Act 1998, section 1216J(1) of the Corporations Act and the ACNC Act (see reg 3; Schedule 1 entries).

Current sections

Direct links to the current provisions in Corporations (Review Fees) Regulations 2003.

Part 1

Preliminary

Part 1—Preliminary

Name of Regulations

1 Name of Regulations

These Regulations are the Corporations (Review Fees) Regulations 2003.

Definitions

3 Definitions

(1) In these Regulations:

Act means the Corporations Act 2001.

financial year means a period of 12 months starting on 1 July.

small transferring financial institution means a transferring financial institution of a State or Territory:

(a) for which a review date applies in accordance with sections 345A, 345B and 345C of the Act; and
(b) for which any of the following circumstances exists on 1 July immediately before that review date:
(i) a levy under the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 or the Life Insurance Supervisory Levy Imposition Act 1998 is not payable;
(ii) the minimum levy amount determined under subsection 7 (3) of the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 is payable;
(iii) the minimum levy amount determined under subsection 7 (3) of the Life Insurance Supervisory Levy Imposition Act 1998 is payable.

special purpose company means:

(a) a company holding a licence that is continued in force by section 151 of the Act and allows the company to omit ‘Limited’ from its name; or
(b) in the case of a company limited by guarantee, or by both shares and guarantee, that was registered immediately before the commencement of this paragraph—if the constitution of the company states that the company:
(i) is formed for the purpose of providing recreation or amusement or promoting commerce, industry, art, science, religion, charity, patriotism, pension or superannuation schemes or any other object useful to the community; and
(ii) applies its profits (if any) or other income in promoting its purpose; and
(iii) prohibits the distribution of its income or property to its members; or
(c) a company that, under subsection 150 (1) of the Act, is registered without ‘Limited’ in its name; or
(d) a company the constitution of which:
(i) requires the company to pursue charitable purposes only and to apply its income in promoting those purposes; and
(ii) prohibits the company making distributions to its members and paying fees to its directors; and
(iii) requires its directors to approve all other payments the company makes to them; or
(e) a proprietary company, if:
(i) the company is the proprietor of land on which a building divided into separate residential areas and areas for common use is erected; and
(ii) the members of the company are entitled, because of the shares they hold in the company, to the exclusive occupation of 1 or more of the residential areas and to the use of the common areas; and
(iii) the company only operates to facilitate and enforce the rights of company members in relation to the exclusive occupation of the residential areas and to maintain the common areas; or
(f) a company, other than a company mentioned in paragraph (a), (b), (c), (d) or (e), if:
(i) the constitution of the company prohibits distribution of the company’s income or property to its members; and
(ii) the sole purpose of the company is to act as the trustee of a regulated superannuation fund within the meaning of section 19 of the Superannuation Industry (Supervision) Act 1993.

transferring financial institution of a State or Territory has the meaning given by clause 1 of Schedule 4 to the Act.

(2) Other expressions used in these Regulations that are defined in the Act have the same meanings as they have in that Act.

Part 2

Review fees

Part 2—Review fees

Review fees

4 Review fees

Fees (1) For subsection 5 (1) of the Corporations (Review Fees) Act 2003, fees are prescribed in relation to review dates for a company, registered scheme or notified foreign passport fund mentioned in an item of the table in clause 1 of Schedule 1 if the fees are to be paid annually. (2) For subsection 5 (1) of the Corporations (Review Fees) Act 2003: (a) fees are prescribed in relation to review dates for a company, registered scheme or notified foreign passport fund mentioned in an item of the table in clause 2 of Schedule 1 if the fees are to be paid before the conduct of the review; and (b) a company, registered scheme or notified foreign passport fund that pays the fee prescribed by this subregulation before the conduct of the review is not required to pay another fee in relation to review dates for the period of 10 years starting when the company, registered scheme or notified foreign passport fund pays the fee. (3) For subsection 5 (1) of the Corporations (Review Fees) Act 2003, fees are specified in relation to review dates for a company, registered scheme or notified foreign passport fund in the circumstances mentioned in the table in clause 3 of Schedule 1. Amount of fees (4) For subsection 6 (1) of the Corporations (Review Fees) Act 2003, the amount of a review fee for a company, registered scheme or notified foreign passport fund is: (a) if subregulation 5 (2) applies to the fee—zero; and (b) if subregulation (5), (6) or (7) applies: (i) the amount specified in that subregulation (subject to subparagraph (ii) of this paragraph); or (ii) if the amount specified in that subregulation is more than $10,000—$10,000.

Note: Regulation 5 applies if the effect of a change of review date is that there will be 2 review dates for the company, scheme or fund in a financial year.

(5) In the financial year starting on 1 July 2024, the amount of a review fee for a company, registered scheme or notified foreign passport fund is the amount mentioned in the item of the table in Schedule 1 that applies in relation to the company, scheme or fund and the review fee. (6) In the financial year starting on 1 July 2025, or a subsequent 1 July, if the latest CPI number is greater than the earlier CPI number, the amount of a review fee for a company, registered scheme or notified foreign passport fund is the amount worked out using the formula: Start formula start fraction previous indexable amount times latest CPI number over earlier CPI number end fraction end formula where:

previous indexable amount is the amount of the review fee for the company, registered scheme or notified foreign passport fund that was applicable immediately before that 1 July.

(7) In the financial year starting on 1 July 2025, or a subsequent 1 July, if the latest CPI number is not greater than the earlier CPI number, the amount of a review fee for a company, registered scheme or notified foreign passport fund is the amount of the review fee that was applicable immediately before that 1 July. (8) If, apart from this subregulation, the amount specified under subregulation (6) would be an amount of dollars and cents, the amount is to be rounded to the nearest whole dollar and, if the amount to be rounded is 50 cents, rounded down. (9) For this regulation: (a) if the Australian Statistician publishes a CPI number for a March quarter in substitution for a CPI number previously published by the Australian Statistician for that quarter, the publication of the later CPI number must be disregarded; and (b) if the Australian Statistician changes the reference base for the Consumer Price Index, then, after the change is made, regard must be had only to the CPI numbers published using the new reference base. (10) In this regulation:

CPI number means the All Groups Consumer Price Index number (being the weighted average of the 8 Australian capital cities) published by the Australian Statistician.

earlier CPI number is the CPI number for the March quarter 2 financial years before the relevant financial year begins.

latest CPI number is the CPI number for the last March quarter before the relevant financial year begins.

No fee for second review date in a financial year

5 No fee for second review date in a financial year

(1) This regulation applies if: (a) a company, responsible entity of a registered scheme or operator of a notified foreign passport fund changes the review date for the company, scheme or fund under section 345B of the Act; and (b) the effect of the change of review date is that there will be 2 review dates for the company, scheme or fund in a financial year. (2) For subsection 6 (1) of the Corporations (Review Fees) Act 2003, no review fee is prescribed for the second of the review dates mentioned in paragraph (1) (b).

Part 3

Application, saving and transitional provisions

Part 1—Preliminary

1 Name of Regulations

These Regulations are the Corporations (Review Fees) Regulations 2003.

3 Definitions

(1) In these Regulations:

Act means the Corporations Act 2001.

financial year means a period of 12 months starting on 1 July.

small transferring financial institution means a transferring financial institution of a State or Territory:

(a) for which a review date applies in accordance with sections 345A, 345B and 345C of the Act; and
(b) for which any of the following circumstances exists on 1 July immediately before that review date:
(i) a levy under the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 or the Life Insurance Supervisory Levy Imposition Act 1998 is not payable;
(ii) the minimum levy amount determined under subsection 7 (3) of the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 is payable;
(iii) the minimum levy amount determined under subsection 7 (3) of the Life Insurance Supervisory Levy Imposition Act 1998 is payable.

special purpose company means:

(a) a company holding a licence that is continued in force by section 151 of the Act and allows the company to omit ‘Limited’ from its name; or
(b) in the case of a company limited by guarantee, or by both shares and guarantee, that was registered immediately before the commencement of this paragraph—if the constitution of the company states that the company:
(i) is formed for the purpose of providing recreation or amusement or promoting commerce, industry, art, science, religion, charity, patriotism, pension or superannuation schemes or any other object useful to the community; and
(ii) applies its profits (if any) or other income in promoting its purpose; and
(iii) prohibits the distribution of its income or property to its members; or
(c) a company that, under subsection 150 (1) of the Act, is registered without ‘Limited’ in its name; or
(d) a company the constitution of which:
(i) requires the company to pursue charitable purposes only and to apply its income in promoting those purposes; and
(ii) prohibits the company making distributions to its members and paying fees to its directors; and
(iii) requires its directors to approve all other payments the company makes to them; or
(e) a proprietary company, if:
(i) the company is the proprietor of land on which a building divided into separate residential areas and areas for common use is erected; and
(ii) the members of the company are entitled, because of the shares they hold in the company, to the exclusive occupation of 1 or more of the residential areas and to the use of the common areas; and
(iii) the company only operates to facilitate and enforce the rights of company members in relation to the exclusive occupation of the residential areas and to maintain the common areas; or
(f) a company, other than a company mentioned in paragraph (a), (b), (c), (d) or (e), if:
(i) the constitution of the company prohibits distribution of the company’s income or property to its members; and
(ii) the sole purpose of the company is to act as the trustee of a regulated superannuation fund within the meaning of section 19 of the Superannuation Industry (Supervision) Act 1993.

transferring financial institution of a State or Territory has the meaning given by clause 1 of Schedule 4 to the Act.

(2) Other expressions used in these Regulations that are defined in the Act have the same meanings as they have in that Act.

Part 2—Review fees

4 Review fees

Note: Regulation 5 applies if the effect of a change of review date is that there will be 2 review dates for the company, scheme or fund in a financial year.

previous indexable amount is the amount of the review fee for the company, registered scheme or notified foreign passport fund that was applicable immediately before that 1 July.

CPI number means the All Groups Consumer Price Index number (being the weighted average of the 8 Australian capital cities) published by the Australian Statistician.

earlier CPI number is the CPI number for the March quarter 2 financial years before the relevant financial year begins.

latest CPI number is the CPI number for the last March quarter before the relevant financial year begins.

5 No fee for second review date in a financial year

Part 3—Application, saving and transitional provisions

Division 1—Amendments made by the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

6 Indexation of review fees for CCIVs

(1) Despite subregulations 4(4), (6) and (7), in the financial year starting on 1 July 2022, the amount of a review fee prescribed in relation to review dates for a company mentioned in item 102A of the table in Part 1 or 1A of Schedule 1, as inserted by the amending regulations, is the amount mentioned in column 3 of the item in that Part for the company. (2) In this regulation:

amending regulations means the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022.

Division 2—Amendments made by the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025

7 Application and transitional provisions

Upfront fees (1) To avoid doubt, if: (a) before the commencement of the amending regulations, a company, registered scheme or notified foreign passport fund paid in relation to a review date a fee prescribed by subregulation 4(2), as in force at the time the payment was made; and (b) at that time, the company, scheme or fund was mentioned in an item of Part 1A of Schedule 1 to these Regulations; and (c) the payment was made before the conduct of the review relating to the review date; then subregulation 4(2), as amended by the amending regulations, applies in relation to the company, scheme or fund at and after the commencement of the amending regulations as if it had paid the fee prescribed by that subregulation before the conduct of the review. Fee amounts (2) The amendment of subregulation 4(5) made by the amending regulations applies in relation to a review fee in the financial year starting on 1 July 2024 for a review date that occurs at or after the commencement of the amending regulations. (3) The amendments of subregulations 4(6) and (7) made by the amending regulations apply in relation to review fees in a financial year starting on or after 1 July 2025. (4) For the purposes of subregulations 4(6) and (7), the amount of a review fee applicable immediately before 1 July 2025 is taken to be the amount applicable under Schedule 1 as amended by the amending regulations. Definitions (5) In this regulation:

amending regulations means the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025.

Division 1

Amendments made by the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

Part 1—Preliminary

1 Name of Regulations

These Regulations are the Corporations (Review Fees) Regulations 2003.

3 Definitions

(1) In these Regulations:

Act means the Corporations Act 2001.

financial year means a period of 12 months starting on 1 July.

small transferring financial institution means a transferring financial institution of a State or Territory:

(a) for which a review date applies in accordance with sections 345A, 345B and 345C of the Act; and
(b) for which any of the following circumstances exists on 1 July immediately before that review date:
(i) a levy under the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 or the Life Insurance Supervisory Levy Imposition Act 1998 is not payable;
(ii) the minimum levy amount determined under subsection 7 (3) of the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 is payable;
(iii) the minimum levy amount determined under subsection 7 (3) of the Life Insurance Supervisory Levy Imposition Act 1998 is payable.

special purpose company means:

(a) a company holding a licence that is continued in force by section 151 of the Act and allows the company to omit ‘Limited’ from its name; or
(b) in the case of a company limited by guarantee, or by both shares and guarantee, that was registered immediately before the commencement of this paragraph—if the constitution of the company states that the company:
(i) is formed for the purpose of providing recreation or amusement or promoting commerce, industry, art, science, religion, charity, patriotism, pension or superannuation schemes or any other object useful to the community; and
(ii) applies its profits (if any) or other income in promoting its purpose; and
(iii) prohibits the distribution of its income or property to its members; or
(c) a company that, under subsection 150 (1) of the Act, is registered without ‘Limited’ in its name; or
(d) a company the constitution of which:
(i) requires the company to pursue charitable purposes only and to apply its income in promoting those purposes; and
(ii) prohibits the company making distributions to its members and paying fees to its directors; and
(iii) requires its directors to approve all other payments the company makes to them; or
(e) a proprietary company, if:
(i) the company is the proprietor of land on which a building divided into separate residential areas and areas for common use is erected; and
(ii) the members of the company are entitled, because of the shares they hold in the company, to the exclusive occupation of 1 or more of the residential areas and to the use of the common areas; and
(iii) the company only operates to facilitate and enforce the rights of company members in relation to the exclusive occupation of the residential areas and to maintain the common areas; or
(f) a company, other than a company mentioned in paragraph (a), (b), (c), (d) or (e), if:
(i) the constitution of the company prohibits distribution of the company’s income or property to its members; and
(ii) the sole purpose of the company is to act as the trustee of a regulated superannuation fund within the meaning of section 19 of the Superannuation Industry (Supervision) Act 1993.

transferring financial institution of a State or Territory has the meaning given by clause 1 of Schedule 4 to the Act.

(2) Other expressions used in these Regulations that are defined in the Act have the same meanings as they have in that Act.

Part 2—Review fees

4 Review fees

Note: Regulation 5 applies if the effect of a change of review date is that there will be 2 review dates for the company, scheme or fund in a financial year.

previous indexable amount is the amount of the review fee for the company, registered scheme or notified foreign passport fund that was applicable immediately before that 1 July.

CPI number means the All Groups Consumer Price Index number (being the weighted average of the 8 Australian capital cities) published by the Australian Statistician.

earlier CPI number is the CPI number for the March quarter 2 financial years before the relevant financial year begins.

latest CPI number is the CPI number for the last March quarter before the relevant financial year begins.

5 No fee for second review date in a financial year

Part 3—Application, saving and transitional provisions

Division 1—Amendments made by the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

6 Indexation of review fees for CCIVs

amending regulations means the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022.

Division 2—Amendments made by the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025

7 Application and transitional provisions

amending regulations means the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025.

Indexation of review fees for CCIVs

6 Indexation of review fees for CCIVs

amending regulations means the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022.

Division 2

Amendments made by the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025

Part 1—Preliminary

1 Name of Regulations

These Regulations are the Corporations (Review Fees) Regulations 2003.

3 Definitions

(1) In these Regulations:

Act means the Corporations Act 2001.

financial year means a period of 12 months starting on 1 July.

small transferring financial institution means a transferring financial institution of a State or Territory:

(a) for which a review date applies in accordance with sections 345A, 345B and 345C of the Act; and
(b) for which any of the following circumstances exists on 1 July immediately before that review date:
(i) a levy under the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 or the Life Insurance Supervisory Levy Imposition Act 1998 is not payable;
(ii) the minimum levy amount determined under subsection 7 (3) of the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 is payable;
(iii) the minimum levy amount determined under subsection 7 (3) of the Life Insurance Supervisory Levy Imposition Act 1998 is payable.

special purpose company means:

(a) a company holding a licence that is continued in force by section 151 of the Act and allows the company to omit ‘Limited’ from its name; or
(b) in the case of a company limited by guarantee, or by both shares and guarantee, that was registered immediately before the commencement of this paragraph—if the constitution of the company states that the company:
(i) is formed for the purpose of providing recreation or amusement or promoting commerce, industry, art, science, religion, charity, patriotism, pension or superannuation schemes or any other object useful to the community; and
(ii) applies its profits (if any) or other income in promoting its purpose; and
(iii) prohibits the distribution of its income or property to its members; or
(c) a company that, under subsection 150 (1) of the Act, is registered without ‘Limited’ in its name; or
(d) a company the constitution of which:
(i) requires the company to pursue charitable purposes only and to apply its income in promoting those purposes; and
(ii) prohibits the company making distributions to its members and paying fees to its directors; and
(iii) requires its directors to approve all other payments the company makes to them; or
(e) a proprietary company, if:
(i) the company is the proprietor of land on which a building divided into separate residential areas and areas for common use is erected; and
(ii) the members of the company are entitled, because of the shares they hold in the company, to the exclusive occupation of 1 or more of the residential areas and to the use of the common areas; and
(iii) the company only operates to facilitate and enforce the rights of company members in relation to the exclusive occupation of the residential areas and to maintain the common areas; or
(f) a company, other than a company mentioned in paragraph (a), (b), (c), (d) or (e), if:
(i) the constitution of the company prohibits distribution of the company’s income or property to its members; and
(ii) the sole purpose of the company is to act as the trustee of a regulated superannuation fund within the meaning of section 19 of the Superannuation Industry (Supervision) Act 1993.

transferring financial institution of a State or Territory has the meaning given by clause 1 of Schedule 4 to the Act.

(2) Other expressions used in these Regulations that are defined in the Act have the same meanings as they have in that Act.

Part 2—Review fees

4 Review fees

Note: Regulation 5 applies if the effect of a change of review date is that there will be 2 review dates for the company, scheme or fund in a financial year.

previous indexable amount is the amount of the review fee for the company, registered scheme or notified foreign passport fund that was applicable immediately before that 1 July.

CPI number means the All Groups Consumer Price Index number (being the weighted average of the 8 Australian capital cities) published by the Australian Statistician.

earlier CPI number is the CPI number for the March quarter 2 financial years before the relevant financial year begins.

latest CPI number is the CPI number for the last March quarter before the relevant financial year begins.

5 No fee for second review date in a financial year

Part 3—Application, saving and transitional provisions

Division 1—Amendments made by the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

6 Indexation of review fees for CCIVs

amending regulations means the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022.

Division 2—Amendments made by the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025

7 Application and transitional provisions

amending regulations means the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025.

Application and transitional provisions

7 Application and transitional provisions

amending regulations means the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025.

Upfront fees

2 Upfront fees

The following table sets out amounts for the purposes of working out review fees for companies, registered schemes and notified foreign passport funds if the fees are to be paid before the conduct of the review:

<table cellspacing="0" cellpadding="0" style="margin-left:0.25pt; border-collapse:collapse"><thead><tr><td colspan="3" style="width:404.85pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Upfront fees</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:307.65pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span style="font-size:9pt">Company, registered scheme or notified foreign passport fund</span></p></td><td style="width:50.7pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Amount</span></p></td></tr></thead><tbody><tr><td style="width:24.9pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:307.65pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A public company, except a special purpose company or a small transferring financial institution</span></p></td><td style="width:50.7pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>$10,000</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:307.65pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A proprietary company, except a special purpose company</span></p></td><td style="width:50.7pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>$2,381</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:307.65pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A CCIV, except a special purpose company</span></p></td><td style="width:50.7pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>$10,000</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:307.65pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A special purpose company that is not a proprietary company</span></p></td><td style="width:50.7pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>$446</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>5</span></p></td><td style="width:307.65pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A special purpose company that is a proprietary company</span></p></td><td style="width:50.7pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>$452</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>6</span></p></td><td style="width:307.65pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A registered scheme or notified foreign passport fund</span></p></td><td style="width:50.7pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>$10,000</span></p></td></tr></tbody></table>

Source text: opening excerpt

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

Part 1 Preliminary

Part 1—Preliminary

1 Name of Regulations

These Regulations are the Corporations (Review Fees) Regulations 2003.

3 Definitions

(1) In these Regulations:

Act means the Corporations Act 2001.

financial year means a period of 12 months starting on 1 July.

small transferring financial institution means a transferring financial institution of a State or Territory:

(a) for which a review date applies in accordance with sections 345A, 345B and 345C of the Act; and
(b) for which any of the following circumstances exists on 1 July immediately before that review date:
(i) a levy under the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 or the Life Insurance Supervisory Levy Imposition Act 1998 is not payable;
(ii) the minimum levy amount determined under subsection 7 (3) of the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 is payable;
(iii) the minimum levy amount determined under subsection 7 (3) of the Life Insurance Supervisory Levy Imposition Act 1998 is payable.

special purpose company means:

(a) a company holding a licence that is continued in force by section 151 of the Act and allows the company to omit ‘Limited’ from its name; or
(b) in the case of a company limited by guarantee, or by both shares and guarantee, that was registered immediately before the commencement of this paragraph—if the constitution of the company states that the company:
(i) is formed for the purpose of providing recreation or amusement or promoting commerce, industry, art, science, religion, charity, patriotism, pension or superannuation schemes or any other object useful to the community; and
(ii) applies its profits (if any) or other income in promoting its purpose; and
(iii) prohibits the distribution of its income or property to its members; or
(c) a company that, under subsection 150 (1) of the Act, is registered without ‘Limited’ in its name; or
(d) a company the constitution of which:
(i) requires the company to pursue charitable purposes only and to apply its income in promoting those purposes; and
(ii) prohibits the company making distributions to its members and paying fees to its directors; and
(iii) requires its directors to approve all other payments the company makes to them; or
(e) a proprietary company, if:
(i) the company is the proprietor of land on which a building divided into separate residential areas and areas for common use is erected; and
(ii) the members of the company are entitled, because of the shares they hold in the company, to the exclusive occupation of 1 or more of the residential areas and to the use of the common areas; and
(iii) the company only operates to facilitate and enforce the rights of company members in relation to the exclusive occupation of the residential areas and to maintain the common areas; or
(f) a company, other than a company mentioned in paragraph (a), (b), (c), (d) or (e), if:
(i) the constitution of the company prohibits distribution of the company’s income or property to its members; and
(ii) the sole purpose of the company is to act as the trustee of a regulated superannuation fund within the meaning of section 19 of the Superannuation Industry (Supervision) Act 1993.

Compliance requires a sequence of determinations and record-keeping steps mapped to the Regulations’ mechanics. The following is a practical compliance checklist, each step tied to the relevant provision in the Regulations:

Identify the entity type precisely (reg 3(1); Schedule 1). Determine whether the entity is a public company, proprietary company, CCIV, special purpose company, registered scheme, notified foreign passport fund, small transferring financial institution, entity in liquidation or winding up, or an ACNC-registered entity. The definition of "special purpose company" in reg 3(1) is multi‑part; auditors should review constitutions, licence status (s 151 of the Corporations Act), and trust structures to confirm classification.
Confirm the review date(s) under the Corporations Act (various sections referenced in reg 3 and reg 5). Check whether the entity has a review date in the relevant financial year, whether it intends to change the review date under s 345B, and whether such a change will create two review dates in one financial year (reg 5(1)). If two review dates arise, remember the second is not charged (reg 5(2); reg 4(4)(a) notes zero where reg 5(2) applies).
Decide whether to pay annually or to elect (or be required by Schedule placement) to pay an upfront fee before the conduct of the review (reg 4(1)-(2); Schedule 1, Parts 1-2). If an upfront fee is paid before the review, the entity gains a statutory exclusion from paying another fee for a period of 10 years starting from payment (reg 4(2)(b)). If an upfront payment has been made prior to the commencement of the 2025 amending regulations and the entity was listed in Part 1A of Schedule 1 at that time, reg 7(1) ensures the amended subregulation 4(2) applies as if the payment were made under the amended regime.
Compute the fee quantum for the relevant financial year:
- For the financial year starting 1 July 2024, use the amounts shown in Schedule 1 (reg 4(5) and Schedule 1, Parts 1-3).
- For financial years starting on or after 1 July 2025, determine whether indexation applies by comparing the "latest CPI number" and the "earlier CPI number" as defined (reg 4(6)-(10)). If the latest CPI is greater than the earlier CPI, compute: previous indexable amount × latest CPI number ÷ earlier CPI number (reg 4(6)). Apply rounding rules (reg 4(8)) and apply the $10,000 ceiling if computed amount exceeds that cap (reg 4(4)(b)(ii)). If the latest CPI is not greater, preserve the immediately prior amount (reg 4(7)).
- If a substituted CPI number for a March quarter has been published, disregard the substituted publication (reg 4(9)(a)). If the CPI reference base changes, use only CPI numbers under the new reference base after the change (reg 4(9)(b)).
Apply rounding and cap rules precisely (reg 4(8); reg 4(4)(b)(ii)). If the computed amount has cents, round to the nearest dollar and, if exactly 50 cents, round down (reg 4(8)). If the computed amount exceeds $10,000, the payable amount is $10,000 (reg 4(4)(b)(ii)).
Track due dates and potential late fees (Schedule 1, Part 3; note referencing subsection 1351(3) of the Corporations Act). Establish a process to identify when the fee becomes due and payable under subsection 1351(3) of the Corporations Act (see Schedule 1 note). If late payment occurs, apply the flat late fees: $96 within one month of due date and $401 if more than one month late (Schedule 1, Part 3).
Maintain documentary evidence for exemptions and classifications: keep copies of constitutions and licences demonstrating special purpose company status (reg 3(1)); retain records showing supervised-levy status as at 1 July prior to the review date for small transferring financial institution classification (reg 3(1)(b)); keep ACNC registration or winding-up orders for no-fee claims under Schedule 1 items 7, 10 and 11; and archive any s 1216J(1) notice related to a notified foreign passport fund (Schedule 1, Annual item 8).
Apply transitional provisions where relevant:
- For CCIVs and FY 2022, ensure indexation is treated per reg 6 if the entity is an item 102A company in Part 1 or 1A (reg 6(1)).
- For payments made before the commencement of the 2025 amending regulations, check whether reg 7(1) applies to preserve the 10-year no-fee entitlement arising from pre‑commencement upfront payments.
Reconcile with accounting and budgeting: because indexation applies only where CPI increases, budgets that assume automatic annual increases should be updated to apply the reg 4(6) test. The $10,000 cap means budgeting for larger entities is bounded, but entities should note the potential volatility if CPI movements are large.
Seek statutory references for collection and disputes: the Regulations do not set out collection procedure or dispute resolution processes. For procedural detail (when fees are due, collection rights and remedies, and dispute or remission options), consult the Corporations (Review Fees) Act 2003 and the Corporations Act 2001, including subsection 1351(3) as referenced.

Operational controls recommended: create a calendar keyed to each entity’s review date with alerts for 1 July CPI checkpoints so indexing can be calculated in time; run a pre-review checklist confirming entity classification; and require sign-off for any decision to pay an upfront fee because of the 10-year commitment effect.

Applying the Regulations is therefore a mix of legal classification, arithmetic using the prescribed CPI formula and administrative record-keeping to support classification and any exemption claims.

Deep Dive

What it does

Current sections

Preliminary

Part 1—Preliminary

Name of Regulations

1 Name of Regulations

Definitions

3 Definitions

Review fees

Part 2—Review fees

Review fees

4 Review fees

No fee for second review date in a financial year

5 No fee for second review date in a financial year

Application, saving and transitional provisions

Part 1—Preliminary

1 Name of Regulations

3 Definitions

Part 2—Review fees

4 Review fees

5 No fee for second review date in a financial year

Part 3—Application, saving and transitional provisions

Division 1—Amendments made by the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

6 Indexation of review fees for CCIVs

Division 2—Amendments made by the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025

7 Application and transitional provisions

Amendments made by the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

Part 1—Preliminary

1 Name of Regulations

3 Definitions

Part 2—Review fees

4 Review fees

5 No fee for second review date in a financial year

Part 3—Application, saving and transitional provisions

Division 1—Amendments made by the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

6 Indexation of review fees for CCIVs

Division 2—Amendments made by the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025

7 Application and transitional provisions

Indexation of review fees for CCIVs

6 Indexation of review fees for CCIVs

Amendments made by the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025

Part 1—Preliminary

1 Name of Regulations

3 Definitions

Part 2—Review fees

4 Review fees

5 No fee for second review date in a financial year

Part 3—Application, saving and transitional provisions

Division 1—Amendments made by the Corporations (Review Fees) Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022

6 Indexation of review fees for CCIVs

Division 2—Amendments made by the Corporations (Review Fees) Amendment (2025 Measures No. 1) Regulations 2025

7 Application and transitional provisions

Application and transitional provisions

7 Application and transitional provisions

Upfront fees

2 Upfront fees

Source text: opening excerpt

Part 1 Preliminary

Part 1—Preliminary

1 Name of Regulations

1 Name of Regulations

3 Definitions

3 Definitions

Main concepts

Who it affects

Key duties and rights

Penalties and enforcement

How it interacts with other laws

Amendment history

Litigation history

Gotchas

How to comply

Part 2 Review fees

Part 2—Review fees

4 Review fees

4 Review fees

5 No fee for second review date in a financial year

5 No fee for second review date in a financial year

Part 3 Application, saving and transitional provisions