1Financial Corporations (Statistics) Regulations

Commonwealth Coat of Arms of Australia

Statutory Rules

1976 No. 101

REGULATIONS UNDER THE FINANCIAL CORPORATIONS ACT 1974.*

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Financial Corporations Act 1974.

Dated this twenty-seventh day of May, 1976.

JOHN R. KERR

Governor-General.

By His Excellency’s Command,

ERIC ROBINSON

Minister of State for Post and Telecommunications for and on behalf of the Treasurer.

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FINANCIAL CORPORATIONS (STATISTICS) REGULATIONS

Citation.

1. These Regulations may be cited as the Financial Corporations (Statistics) Regulations.

Application.

2. (1) These Regulations apply to a registered corporation—

(a) the sum of the values of all the assets of which in Australia exceeds $5,000,000; and

(b) that is not included in the category for retailers.

(2) For the purposes of determining whether a registered corporation is a registered corporation to which these Regulations apply, the values of the assets of the corporation at any time are the values of those assets as determined in accordance with the methods by which the values of assets were ascertained for the purposes of the audited balance sheet of the corporation that was at that time the most recent audited balance sheet of the corporation.

Registered corporations to state that they are corporations to which these Regulations apply.

3. For the purposes of section 11 of the Act—

(a) if, at the commencement of these Regulations, a corporation is a corporation to which these Regulations apply, the corporation shall, before the expiration of the period of 30 days after the date of the commencement of these Regulations furnish to the Reserve Bank a statement in accordance with Form 1 in the Schedule; and

(b) where, after the commencement of these Regulations, a corporation becomes a corporation to which these Regulations apply, whether at the time of its incorporation or at a later time and whether or not the corporation has previously been a corporation to which these

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* Notified in the Australian Government Gazette on 27 May 1976.

Regulations apply, the corporation shall, before the expiration of the period of 30 days after the day on which it becomes a corporation to which these Regulations apply, furnish to the Reserve Bank a statement in accordance with Form 1 in the Schedule.