The Treasury Laws Amendment (Modernising Business Communications and Other Measures) Regulations 2022 have been registered pending the passing by the Senate of the Treasury Laws Amendment (Modernising Business Communications and other Measures) Bill 2022.
The Bill has been passed by the House of Representatives.
The Regulations will commence at the same time as the Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023 commences. If the Amendment Act does not commence, then the Regulations will not commence.
Schedule 1 to Regulations simplifies and rationalises the Corporations Regulations 2001 by clarifying the meaning of defined terms, removing redundant definitions, and making broad improvements in relation to the use of definitions. These changes were recommended in the ALRC Financial Services Interim Report.
The Bill has been referred to the Economics Legislation Committee for inquiry and report by 3 March 2023.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
