What is the purpose of the Corporations Act 2001?
The Corporations Act 2001 (Cth) is the principal legislation regulating business entities (primarily companies) in Australia. It regulates matters such as the formation and operation of companies (in conjunction with a constitution that may be adopted by a company), duties of officers, takeovers and fundraising.
What is considered a disclosing entity?
Disclosing entity means a provider (including a managed care entity, but not including an individual practitioner or group of practitioners) or a fiscal agent under any of the programs administered in whole or in part by DMAHS.
What is a disclosing entity under the Corporations Act?
Under section 111AC a Disclosing Entity (“DE”) is a corporation that issues Enhanced Disclosure securities (“EDS”). Briefly, sec.111AF defines EDS as shares or other securities issued where: • a prospectus (or other disclosure document requiring lodgement with ASIC) has. been published, and.
Who regulates the Corporations Act 2001?
3.2 ASIC has general administration of the Corporations Act 2001, the principal legislation governing the affairs of companies in Australia.
What is an unlisted disclosing entity?
For the purposes of this guide, an ‘unlisted disclosing entity’ is a disclosing entity (as defined in the Corporations Act) that is not listed on a prescribed financial market (regardless of whether its securities are quoted or traded on that market).
What is a small proprietary company?
A proprietary company is classified as small only if it meets at least two of the following criteria: It has assets of less than $25 million at the end of a financial year. It has fewer than 100 employees at the end of a financial year. It has a gross operating revenue of less than $50 million for the financial year.
What products are regulated under the Corporations Act?
The regulatory framework covers a wide range of financial products including securities, derivatives, general and life insurance, superannuation, margin lending, carbon units, deposit accounts and means of payment facilities.
What is the ASIC Act 2001?
We are set up under and administer the Australian Securities and Investments Commission Act 2001 (ASIC Act), and we carry out most of our work under the Corporations Act. Our role under the ASIC Act is to: maintain, facilitate and improve the performance of the financial system and entities in it.