Inquiry into Regulation 7.1.29 in Corporations Amendment Regulations 2003 (No. 3), Statutory Rules 2003 No. 85

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Inquiry into Regulation 7.1.29 in Corporations Amendment Regulations 2003 (No. 3), Statutory Rules 2003 No. 85

June 2003

© Commonwealth of Australia 2003
ISBN 0 642 71272 7

View the report as a single document - (PDF 382KB)

View the report as separate downloadable parts:

Members of the Committee (PDF 113KB)

Acronyms and Abbreviations
 
Chapter 1 - Regulation 7.1.29 of Corporations Amendment Regulations 2003 (No. 3) (PDF 132KB)
 
Chapter 2 - Review of regulation 7.1.29 (PDF 150KB)

History
Overview of the provisions
The provisions in detail
 
Chapter 3 - Review of the evidence and the Committee's conclusions (PDF 225KB)

Introduction
Drafting issues
Regulation 7.1.29 and its implications for accountants
  Why accountants say there should be a licensing carve-out
  Why the superannuation advice exemption is inappropriate
  Effect on consumers-the cost and quality of advice
     Referrals, costs and fragmentation of advice
     High costs of licensing and flow-throughs to consumers
     Authorised representative status, accountants' independence and effect on quality of advice
The Committee's views
Conclusion
Regulation 7.1.29 and its implications for lawyers
  Custodial and depository services
  Activities associated with 'dealing'
  Provisos in the regulation
The Committee's views
 
Chapter 4 - The Corporations Amendment Regulations 2003 (No. 3), Statutory Rules 2003 No. 85 (PDF 139KB)

Regulation 7.1.33D
Regulation 7.6.01(1)(la)
Regulation 12.7.06
Conclusion
 
Report by Labor Members (PDF 145KB)
 
Appendix 1 - Submissions received and additional information (PDF 104KB)
 
Appendix 2 - Public hearing and witnesses (PDF 79KB)
 
Appendix 3 - Additional information provided by the Department of the Treasury (PDF 196KB)

For further information, contact:

Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600
Australia

Phone: +61 2 6277 3583
Fax: +61 2 6277 5719
Email: corporations.joint@aph.gov.au