Corporations Regulations 2001
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Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
Modifying legislative instruments: The application of Pt 7.9 is affected by the ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.9, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
For paragraph 1020G(1)(b) of the Act, a basic deposit product ( an account ) for which the holder of the product is provided with, and keeps, a document commonly referred to as a ``passbook'' is exempt from section 1017D of the Act if, under the terms of the operation of the account:
(a) the client has a right to a reasonable opportunity to present the passbook to the issuer; and
(b) the issuer enters particulars of each transaction involving the account including the amount of the transaction and the current balance of the account; and
(c) there is no fee associated with the passbook or the entry of particulars into the passbook.
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