Australian Securities and Investments Commission Amendment Regulations 2010 (No. 1)¹

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Australian Securities and Investments Commission Act 2001.

Dated 6 May 2010

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

CHRIS BOWEN

1              Name of Regulations

                These Regulations are the Australian Securities and Investments Commission Amendment Regulations 2010 (No. 1).

2              Commencement

                These Regulations commence on the commencement of Schedule 2 to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009.

3              Amendment of Australian Securities and Investments Commission Regulations 2001

                Schedule 1 amends the Australian Securities and Investments Commission Regulations 2001.

Schedule 1        Amendment

(regulation 3)

[1]           After regulation 2C

insert

2D           Circumstances in which a person is taken to be provided a traditional trustee company service

                For subsection 12BAB (1B) of the Act, a person who is one of the following:

                (a)    a person who may request an annual information return under subregulation 5D.2.01 (3) of the Corporations Regulations 2001;

               (b)    a person who requests the preparation of a will, a trust instrument, a power of attorney or an agency arrangement;

is, in relation to an estate management function, prescribed as the person to whom the service is taken to be provided for the purpose of Division 2 of Part 2 of the Act.

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.