AST GVT Treasury Portfolio Laws 2024

On Sep. 27, AST GVT proposed miscellaneous amendments to laws.

  • AST GVT published the suite of material below with respect to proposed miscellaneous amendments to Treasury portfolio laws, and it also seeks feedback on the proposal.
  • Follows AST GVT Jan. 2024 proposed miscellaneous amendments to laws, #199458.
  • Material Published
  • It published Exposure draft - Treasury laws amendment bill 2024: minor and technical amendments (Spring 2024); exposure draft explanatory materials regarding same.
  • In addition, Exposure draft - Treasury laws amendment instrument 2024: minor and technical amendments (Spring 2024); and exposure draft explanatory statement (ES).
  • Exposure Draft Bill
  • Makes a number of miscellaneous, technical amendments to Treasury portfolio laws, to update legislative references, repeal inoperative provisions, and reduce red tape.
  • Includes amendments to Australian Securities and Investments Commission act 2001; ASTCA (re reporting requirements for public firms); Foreign acquisitions and takeovers act 1975 (to clarify on calculation of penalties); and Income tax assessment act 1997.
  • Amendments to Income tax assessment act 1997 relate to thin capitalization rules.
  • Exposure Draft Regulations
  • These make various amendments to Treasury portfolio regs to correct drafting errors, unintended outcomes, repeal inoperative provisions, make other technical changes.
  • Attachment A to the ES contains an outline of these minor and technical amendments.
  • Includes amendments to Corporations regulations 2001; Superannuation industry (supervision) regulations 1994; as well as Taxation administration regulations 2017.
  • Effectiveness
  • The comment period for this consultation closes on Oct. 11, 2024.

Regulators AST GVT
Entity Types Auditor; Corp; Inv Co; Pension
Reference CP, PR 9/27/2024; Citation: Foreign acquisitions and takeovers act 1975; Superannuation industry (supervision) regulations 1994; Income tax assessment act 1997; ASTCA; Corporations regulations 2001; Australian Securities and Investments Commission act 2001; Taxation administration regulations 2017;
Functions Accounting; Compliance; Financial; Legal; Product Administration; Reporting; Tax; Treasury
Countries Australia; Cross-Border
Category Central Government
State
Products Corporate; Equity; Fund Mgt; Pensions
Regions AP
Rule Type Proposed
Rule Date 9/27/2024
Effective Date 10/11/2024
Rule Id 227539
Linked to Rule :199458
Reg. Last Update 9/27/2024
Report Section International

Last substantive update on 09/30/2024