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Corporations Amendment (Asia Region Funds Passport) Bill 2018

Revised Explanatory Memorandum

(Circulated by authority of the Minister for Revenue and Financial Services, Minister for Women and Minister Assisting the Prime Minister for the Public Service, the Hon Kelly O'Dwyer MP)
This memorandum takes account of amendments made by the House of Representatives to the bill as introduced.


The following abbreviations and acronyms are used throughout this Explanatory Memorandum.

Abbreviation Definition
AAT Administrative Appeals Tribunal
AFSL Australian Financial Services Licence
AML/CTF Anti-Money Laundering and Counter-Terrorism Financing
AML/CTF Act Anti-Money Laundering and Counter-Terrorism Financing Act 2006
APEC Asia-Pacific Economic Cooperation
APFRN Australian Passport Fund Registration Number
APRA Australian Prudential Regulation Authority
ASIC Australian Securities and Investments Commission
ASIC Act Australian Securities and Investments Commission Act 2001
AUSTRAC Australian Transaction Reports and Analysis Centre
Bill Corporations Amendment (Asia Region Funds Passport) Bill 2018
CIS Collective investment scheme
Corporations Act Corporations Act 2001
Corporations Regulations Corporations Regulations 2001
Criminal Code The Criminal Code, as set out in the Schedule to the Criminal Code Act 1995
FRL Federal Register of Legislation established under the Legislation Act 2003
Guide Attorney-General's Department, A Guide to Framing Commonwealth Offences, Infringement Notices and Enforcement Powers, September 2011
IMR Investment Manager Regime
IOSCO International Organization of Securities Commissions
Johnson Report Australian Financial Centre Forum, Australia as a Financial Centre - Building on our Strengths, 2009
Joint Committee Asia Region Funds Passport Joint Committee
MIS Managed investment scheme
MOC Memorandum of Cooperation on the Establishment and Implementation of the Asia Region Funds Passport
Participating economy A signatory of the MOC who has not withdrawn from the MOC, until such time as the MOC is terminated
Passport Asia Region Funds Passport
PDS Product Disclosure Statement
Register Register of Passport Funds

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