Treasury Laws Amendment (Business Registries Stabilisation and Uplift) Act 2026 (57 of 2026)

Schedule 2   ASIC powers

Part 6   Restricting access to information on ASIC registers in appropriate cases

Corporations Act 2001

65   Before section 1274A

Insert:

1274AC Restricting access to information or documents lodged with ASIC, or on ASIC registers, in appropriate cases

(1) ASIC may, by legislative instrument, impose one or more of the following restrictions:

(a) redact a specified class of information in documents lodged with ASIC, or in registers kept by ASIC, that a specified class of persons may wish to:

(i) inspect under subsection 1274(2); or

(ii) search under subsection 1274A(2) or (3); or

(iii) access under subsection 1274A(4);

(b) refuse inspection under subsection 1274(2) by a specified class of persons of a specified class of documents lodged with ASIC;

if, after having regard to the matters in subsection (2) of this section, ASIC reasonably believes that the benefits of the restrictions outweigh the risks of the restrictions.

(2) The matters are as follows:

(a) whether having, or not having, the restrictions could protect consumers or investors from wrongdoing;

(b) the purpose for which the class of information or class of documents was collected;

(c) any harm or adverse impacts for persons (including impacts related to privacy or safety) that could result from having, or not having, the restrictions;

(d) whether the class of information or class of documents is commercially sensitive;

(e) whether having, or not having, the restrictions could prejudice the proper administration of justice;

(f) whether the class of information or class of documents is irrelevant to the purposes of the particular register;

(g) whether the disclosure would be of limited benefit to the public because the class of information or class of documents is outdated or incomplete;

(h) whether the class of information or class of documents is inaccurate, is likely to cause confusion or is likely to mislead the public;

(i) any other matters prescribed by regulations made for the purposes of this paragraph;

(j) any other matters that ASIC considers relevant.

(3) Subsection 1274(2) applies subject to subsection (1) of this section.