What is a financial service Corporations Act?
The Corporations Act 2001 imposes: a single licensing regime for financial sales, advice and dealings in relation to financial products, consistent and comparable financial product disclosure, and a single authorisation procedure for financial exchanges and clearing and settlement facilities.
What is the purpose of the Corporations Act?
It regulates matters such as the formation and operation of companies (in conjunction with a constitution that may be adopted by a company), duties of officers, takeovers and fundraising.
What are the powers of ASIC?
Under the financial services laws, the ASIC has facilitative, regulatory and enforcement powers, which include power to:
- make rules aimed at ensuring the integrity of financial markets.
- investigate suspected breaches of the law and in so doing require people to produce books or answer questions at an examination.
What does the Corporations Act do?
What are the provisions of the Companies Act 2006?
Companies Act 2006 (c. 46) xiii. Public companies. 271 Public company required to have secretary 272 Direction requiring public company to appoint secretary 273 Qualifications of secretaries of public companies. Provisions applying to private companies with a secretary and to public companies.
What is the meaning of person in the Corporations Act 2001?
CORPORATIONS ACT 2001 – SECT 761FA. Meaning of person–generally includes multiple trustees. (1) This section applies in relation to a trust while the trust continues to have: (a) 2 or more trustees; or. (b) a single trustee who was a trustee of the trust at a time when it had 2 or more trustees.
What does ” claimant intermediary ” mean in section 761ca?
“claimant intermediary” has the meaning given by section 761CAA. “claims handling and settling service” has the meaning given by section 766G. “class” , in relation to financial products or financial services, has a meaning affected by regulations made for the purposes of section 761CA.