Commonwealth legislation

Corporations (Statements of Advice) Repeal Regulation 2014

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

210 of 2014

Collection

legislative instrument

Plain English Summary

1/10 complexity

This regulation repeals (cancels) another regulation called the Corporations Amendment (Statements of Advice) Regulation 2014.

What this does:

Removes the entire 2014 Regulation from the statute books
This eliminates any specific rules that the 2014 Regulation had introduced regarding Statements of Advice (the legally required documents that financial advisers must give to clients when providing personal financial advice)

Who is affected:

Financial advisers and advisory firms holding an Australian Financial Services Licence
Consumers receiving personal financial advice

Why it matters: The repeal removes regulatory requirements that the government determined were unnecessary, burdensome, or redundant. This likely streamlines the rules about what information must be included in advice documents and how it must be presented, reverting to standards that applied before the 2014 Regulation commenced.

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Current sections

Direct links to the current provisions in Corporations (Statements of Advice) Repeal Regulation 2014.

Corporations (Statements of Advice) Repeal Regulation 2014

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Corporations (Statements of Advice) Repeal Regulation 2014

Select Legislative Instrument No. 210, 2014

I, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation.

Dated 11 December 2014

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Mathias Cormann

Minister for Finance for the Treasurer

Contents

1 Name

2 Commencement

3 Authority

4 Schedules

Schedule 1—Repeals

Corporations Amendment (Statements of Advice) Regulation 2014

1 Name

This is the Corporations (Statements of Advice) Repeal Regulation 2014.

2 Commencement

This instrument commences on the day after it is registered.

3 Authority

This instrument is made under the Corporations Act 2001.

4 Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Repeals

Corporations Amendment (Statements of Advice) Regulation 2014

1 The whole of the regulation

Repeal the regulation.

Source text

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

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Corporations (Statements of Advice) Repeal Regulation 2014

Select Legislative Instrument No. 210, 2014

Dated 11 December 2014

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Mathias Cormann

Minister for Finance for the Treasurer

Contents

1 Name

2 Commencement

3 Authority

4 Schedules

Schedule 1—Repeals

Corporations Amendment (Statements of Advice) Regulation 2014

1 Name

This is the Corporations (Statements of Advice) Repeal Regulation 2014.

2 Commencement

This instrument commences on the day after it is registered.

3 Authority

This instrument is made under the Corporations Act 2001.

4 Schedules

Schedule 1—Repeals

Corporations Amendment (Statements of Advice) Regulation 2014

1 The whole of the regulation

Repeal the regulation.

Read the source document