- Bill 3 – Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2018: Further amendments (updated 16 October 2018)* - PDF 580KB
- Bill 3 – Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2018: Further amendments (updated 16 October 2018)* - DOC 256KB
- Explanatory Memorandum (updated 16 October 2018)* - DOCX 300KB
- Explanatory Memorandum (updated 16 October 2018)* - PDF 671KB
- Bill 1 – Commonwealth Registers Bill 2018 - PDF 295KB
- Bill 1 – Commonwealth Registers Bill 2018 - DOC 268KB
- Bill 2 – Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2018 (includes Director Identification Numbers) - PDF 1000KB
- Bill 2 – Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2018 (includes Director Identification Numbers) - DOC 535KB
*Updates to draft legislation – 16 October 2018
- Added Bill 3 – Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2018: Further amendments.
- Minor changes made to the Explanatory Memorandum to incorporate Bill 3 of the draft legislation. The changes are:
- updated Consequential amendments tables (see Appendix);
- addition of two new footnotes (3 and 73); and
- updated references in the ‘Commencement and application’ section (page 23).
In the 2018-19 Budget, the Government announced it will modernise the Australian Business Register (ABR) and the 31 Australian Securities and Investments Commission (ASIC) business registers onto a single platform that will be administered by the Australian Business Registrar within the Australian Taxation Office (ATO).
The current legislative framework that covers ASIC’s business registers has not kept up with digital technology and restricts ASIC’s ability to interact with clients in their preferred manner. It also does not allow ASIC registry functions to be administered by another agency.
This draft legislation would allow the appointed Registrar (or Registrars) the ongoing flexibility to adapt and respond to changes in technology to improve the user experience and simplify the way clients interact with government business registers.
The draft legislation to modernise the business registers will be consulted on in two parts. The first part was released on 1 October and included the core provisions that facilitate a modern government registry regime plus the bulk of the referrals of functions and consequential changes from other Acts. The second part was released on 16 October and includes the remainder of the referrals of functions and consequential changes.
The amendments proposed by the Government will allow ASIC’s registry functions to be shifted to the Australian Business Registrar. ASIC will continue to administer all of its regulatory functions under the current ASIC laws.
Also included in the draft legislation released on 1 October is a legal framework for the introduction of Director Identification Numbers (DINs). The draft legislation sets out who will be required to obtain a DIN, the obligations associated with a DIN, the consequences of not meeting those obligations and how DINs will be administered. Details on specific implementation options are currently being considered and will be separately consulted on shortly.
You can request to be involved in future consultation on the implementation of DINs.
- Armstrong, Ann - PDF 93KB
- Australian Bureau of Statistics - PDF 299KB
- Australian Chamber of Commerce and Industry - PDF 329KB
- Australian Charities and Not-for-profits Commission - PDF 325KB
- Australian Council of Trade Unions - PDF 405KB
- Australian Institute of Company Directors - PDF 429KB
- Australian Institute of Credit Management - PDF 183KB
- Australian Restructuring Insolvency and Turnaround Association - PDF 283KB
- Australian Small Business and Family Enterprise Ombudsman - PDF 5MB
- Business Council of co-operatives and mutuals - PDF 569KB
- CBUS - PDF 817KB
- CFMEU - PDF 915KB
- Chartered Accountants Australia and NZ - PDF 137KB
- Chronos Advisory Pty Ltd - PDF 62KB
- Condon Associates - PDF 374KB
- Governance Institute - PDF 145KB
- Illion - PDF 377KB
- Institute of Public Accountants - PDF 1MB
- Master Builders Australia - PDF 651KB
- Media Entertainment and Arts Alliance - PDF 772KB
- Mendelsons - PDF 231KB
- NSW Department of Premier and Cabinet - PDF 205KB
- Office of the NSW Small Business Commissioner - PDF 279KB
- Pharmacy Guild of Australia - PDF 310KB
- Pitch Partners - PDF 433KB
- Professor Helen Anderson, Melbourne Law School - PDF 258KB
- Regional Anangu Services Aborginal Corporation - PDF 189KB
- Self-Employed Australia - PDF 402KB
- Toomarooma Kunama Namadgi Corporation - PDF 97KB
- Uniting Church and Salvation Army - PDF 412KB
- Walalakoo Aboriginal Corporation - PDF 97KB
- Wathaurung Aboriginal Corporation - PDF 218KB
- Yarter Nati Aboriginal Corporation - PDF 138KB