Introduction Agents Regulations 1998

i Introduction Agents Regulations 1998 S.R. No. 75/1998 TABLE OF PROVISIONS Regulation Page PART 1—PRELIMINARY 1 1. Objectives 1 2. Commencement 1 3. Authorising provisions 1 4. Definition 2 PART 2—INTRODUCTION AGENTS 3 5. Exemption for information service providers 3 6. Notice of intention to act as an introduction agent 3 PART 3—INTRODUCTION AGREEMENTS 4 7. Warning if no reasonable chance of providing introductions 4 8. Acknowledgement of warning 4 PART 4—ADMINISTRATIVE MATTERS 5 9. Annual statement 5 PART 5—ENFORCEMENT 8 10. Prescribed offences—infringement notices 8 PART 6—FEES 9 11. Fees 9 __________________ SCHEDULES 10 SCHEDULE 1—Notice of intention to Act as an introduction agent 10 SCHEDULE 2—Warning if no reasonable chance of providing introductions 18 -- 1 of 22 -- Regulation Page ii SCHEDULE 3—Acknowledgement of warning 19 SCHEDULE 4—Offences in respect of which infringement notices may be issued 20 ═══════════════ -- 2 of 22 -- 1 STATUTORY RULES 1998 S.R. No. 75/1998 Introduction Agents Act 1997 Introduction Agents Regulations 1998 The Governor in Council makes the following Regulations: Dated: 30 June 1998 Responsible Minister: JAN WADE Minister for Fair Trading SHARNE BRYAN Clerk of the Executive Council PART 1—PRELIMINARY 1. Objectives The objectives of these Regulations are to provide for— (a) the form and content of notices required under the Introduction Agents Act 1997; (b) fees payable under the Act; (c) other matters that are necessary to be prescribed to give effect to the Act. 2. Commencement These Regulations come into operation on 1 July 1998. 3. Authorising provisions These Regulations are made under section 73 of the Introduction Agents Act 1997. -- 3 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 2 4. Definition In these Regulations, "Act" means the Introduction Agents Act 1997. _______________ r. 4 -- 4 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 3 PART 2—INTRODUCTION AGENTS 5. Exemption for information service providers For the purposes of sections 11(2)(b)(ii) and 11(2)(c)(ii) of the Act, an amount of $100 is fixed. 6. Notice of intention to act as an introduction agent For the purposes of section 15(1)(c) of the Act, a notice of intention to act as an introduction agent must be in the form of, and contain the details specified in, Schedule 1. _______________ r. 5 -- 5 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 4 PART 3—INTRODUCTION AGREEMENTS 7. Warning if no reasonable chance of providing introductions For the purposes of section 33(1)(a) of the Act, a warning that there is no reasonable chance of providing introductions must be in the form of Schedule 2. 8. Acknowledgement of warning For the purposes of section 33(1)(b)of the Act, an acknowledgement of a warning given under section 33(1)(a) must be in the form of Schedule 3. _______________ r. 7 -- 6 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 5 PART 4—ADMINISTRATIVE MATTERS 9. Annual statement For the purposes of section 35 of the Act, the details to be contained in an annual statement are— (a) the full name of the person acting as the introduction agent; (b) the date the person gave notice to the Secretary under section 15 or 75 of the Act; (c) the date of the annual statement; (d) the previously notified address or addresses at which the person acts as an introduction agent; (e) any changes to those addresses; (f) if the introduction agent is a corporation— (i) the name, address and position of the person who prepared the annual statement; and (ii) in respect of any person who has been appointed to act as a director since the last annual statement (or, if the annual statement is the first annual statement, since notice was given under section 15 or 75 of the Act)— (A) her or his name (family and given names); (B) any former names; (C) her or his address; (D) the date and place of her or his birth; r. 9 -- 7 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 6 (E) the date she or he was appointed as a director; and (iii) in respect of any person ceasing to hold office as a director since the last annual statement (or, if the annual statement is the first annual statement, since notice was given under section 15 or 75 of the Act)— (A) her or his name (family and given names); (B) the date the appointment ceased; (g) if the introduction agent is a natural person, any offences— (i) with which the person has been charged; (ii) to which the person has pleaded guilty; (iii) of which the person has been convicted— since the last annual statement (or, if the annual statement is the first annual statement, since notice was given under section 15 or 75 of the Act); (h) if the introduction agent is a corporation, any offences— (i) with which the corporation or any of its directors has been charged; (ii) to which the corporation or any of its directors has pleaded guilty; (iii) of which the corporation or any of its directors has been convicted— r. 9 -- 8 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 7 since the last annual statement (or, if the annual statement is the first annual statement, since notice was given under section 15 or 75 of the Act). _______________ r. 9 -- 9 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 8 PART 5—ENFORCEMENT 10. Prescribed offences—infringement notices For the purposes of section 58(1) of the Act, the offences listed in Schedule 4 are specified as offences in respect of which an infringement notice may be issued. _______________ r. 10 -- 10 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 9 PART 6—FEES 11. Fees (1) For the purposes of sections 15 and 75 of the Act, a fee of $190 must accompany a notice of intention to act, or continue to act, as an introduction agent. (2) For the purposes of section 35 of the Act, a fee of $45 must accompany an annual statement. (3) For the purposes of section 39(4) of the Act, a fee of $1 per page must be paid to obtain a copy of an entry in the Register of Introduction Agents. (4) For the purposes of section 40(2) of the Act, a fee of $10 must be paid to obtain a certificate. __________________ r. 11 -- 11 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 10 SCHEDULES SCHEDULE 1 NOTICE OF INTENTION TO ACT AS AN INTRODUCTION AGENT Introduction Agents Act 1997 Section 15(1)—Notice of Intention to Act as an Introduction Agent You must lodge this notice if you intend to act as an introduction agent at least 30 days before you begin to act as an introduction agent. Natural persons should complete Section A of this form. Corporations should complete Section B of this form. SECTION A—NATURAL PERSONS Please answer the following questions (circle YES or NO as appropriate)— (a) Are you under 18 years of age? YES/NO (b) Are you an undischarged bankrupt? YES/NO (c) Have you executed a deed of arrangement under Part X of the Bankruptcy Act 1966 of the Commonwealth (or corresponding legislation in another jurisdiction) where the terms of the deed have not been fully complied with? YES/NO (d) Do you have creditors who have accepted a composition under Part X of the Bankruptcy Act 1966 of the Commonwealth (or corresponding legislation in another jurisdiction) where a final payment has not been made under that composition? YES/NO (e) Have you been convicted, within the last 5 years, of an offence involving fraud, dishonesty, drug trafficking or violence punishable by imprisonment for 3 months or more (regardless of where the offence occurred)? YES/NO (f) Are you a represented person within the meaning of the Guardianship and Administration Board Act 1986? YES/NO (g) Are you a licensee or an approved manager under the Prostitution Control Act 1994? YES/NO Sch. 1 -- 12 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 11 (h) Are you the subject of a current order under section 64 of the Introduction Agents Act 1997 stopping you from acting as an introduction agent? YES/NO (i) Are you the subject of a current order under section 65 of the Introduction Agents Act 1997 disqualifying you from acting as an introduction agent? YES/NO If you answered "YES" to any of the above, section 14 of the Introduction Agents Act 1997 provides that you must not act as an introduction agent. Doing so may result in prosecution under section 14, with a maximum possible penalty of a fine of $50 000 or imprisonment for 12 months. If you are able to answer ALL of the above in the negative, you may proceed to give notice of your intention to act as an introduction agent by completing the following details and sending the notice to the address shown at the end of the notice. 1. PERSONAL INFORMATION (a) Surname (b) Given name/s (c) Date of Birth / / (d) Place of Birth 2. IDENTIFICATION Please provide a copy of at least one of the following forms of identification— (a) current passport; (b) current driver's licence; (c) full birth certificate or extract of birth; (d) certificate of Australian citizenship; or (e) marriage certificate. Sch. 1 -- 13 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 12 3. ADDRESSES/TELEPHONE/FACSIMILE (a) Residential Address Telephone Facsimile (b) Postal Address (c) Business Address/es (please provide details of ALL business addresses at which you intend to act as an introduction agent and telephone and facsimile numbers for those addresses) Telephone Facsimile (Attach separate page if further space needed) 4. BUSINESS NAMES Please provide— (a) details of ALL business names which you intend to use while acting as an introduction agent; and (b) a copy of a certificate of registration under section 23 of the Business Names Act 1962 for EACH business name Details— Sch. 1 -- 14 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 13 5. PARTNERSHIP DETAILS Please provide the following details of any partners with whom you act as an introduction agent— (a) Surname (b) Given name/s (c) Date of Birth / / (d) Place of Birth (Attach separate page/s for additional partners) 6. COMMENCEMENT DATE* Date on which you intend to commence acting as an introduction agent / / * This date must be at least 30 days after the date on which this notice is given Sch. 1 -- 15 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 14 SECTION B—CORPORATIONS DETAILS OF PERSON GIVING NOTICE ON BEHALF OF THE CORPORATION (a) Surname (b) Given name/s (c) Date of Birth / / (d) Place of Birth (e) Position Within the Corporation Please answer the following questions (circle YES or NO as appropriate)— (a) Are any of the corporation's directors disqualified from acting as an introduction agent? YES/NO (b) Has the corporation been convicted, within the last 5 years, of an offence involving fraud, dishonesty, drug trafficking or violence punishable by imprisonment for 3 months or more (regardless of where the offence occurred)? YES/NO (c) Is the corporation being wound up? YES/NO (d) Has a receiver or receiver and manager been appointed? YES/NO (e) Is the corporation under official management? YES/NO (f) Has the corporation entered into a compromise or arrangement with another person under Part 5 of the Corporations Law, the administration of which has not concluded? YES/NO (g) Is the corporation the subject of a current order under section 64 of the Introduction Agents Act 1997 stopping it from acting as an introduction agent? YES/NO Sch. 1 -- 16 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 15 (h) Is the corporation the subject of a current order under section 65 of the Introduction Agents Act 1997 disqualifying it from acting as an introduction agent? YES/NO If you answered "YES" to any of the above, section 14 of the Introduction Agents Act 1997 provides that the corporation must not act as an introduction agent. Doing so may result in prosecution under section 14, with a maximum possible penalty of a fine of $50 000. If you are able to answer ALL of the above in the negative, you may proceed to give notice of the corporation’s intention to act as an introduction agent by completing the following details and sending the notice to the address shown at the end of the notice. 1. CORPORATION'S DETAILS (a) Full name of corporation (b) Australian Company Number 2. IDENTIFICATION Please provide a copy of the corporation's certificate of registration 3. ADDRESSES/TELEPHONE/FACSIMILE (a) Address of corporation's registered office Telephone Facsimile (b) Corporation's principal place of business in Victoria Telephone Facsimile Sch. 1 -- 17 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 16 (c) Address/es of all other business premises in Victoria at which the corporation intends to act as an introduction agent Telephone Facsimile (Attach separate page if more space needed) 4. DIRECTORS (a) Please provide the following information for each director of the corporation Surname Other names Date of birth / / Place of birth Residential address Residential phone number (Attach separate page/s for additional directors) (b) Please also provide, for each director, a copy of at least one of the following forms of identification— (i) current passport; (ii) current driver's licence; (iii) full birth certificate or extract of birth; (iv) certificate of Australian citizenship; or (v) marriage certificate. Sch. 1 -- 18 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 17 5. BUSINESS NAMES Please provide— (a) details of ALL business names which the corporation intends to use while acting as an introduction agent; and (b) a copy of a certificate of registration under section 23 of the Business Names Act 1962 for EACH business name Details— 6. COMMENCEMENT DATE* Date on which the corporation intends to commence acting as an introduction agent / / * This date must be at least 30 days after the date on which this notice is given __________________ Sch. 1 -- 19 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 18 SCHEDULE 2 WARNING IF NO REASONABLE CHANCE OF PROVIDING INTRODUCTIONS Introduction Agents Act 1997 Section 33(1)(a)—Warning if no reasonable chance of providing introductions I, of (Name of introduction agent) (Name of company/business) am obliged by section 33 (1) of the Introduction Agents Act 1997 ("the Act") to warn you that there is no reasonable chance (Name of potential client) that the provision of an introduction service by me to you will result in you obtaining the introductions that you are seeking. If you choose to enter into an introduction agreement with me, section 33(2) of the Act allows you to withdraw from the agreement at any time, provided that you give me a written notice signed by you that states that you are withdrawing from the agreement (see section 33(3) of the Act). This notice can be sent or delivered to me at— (Insert details of address to which a notice of withdrawal can be sent or at which such a notice can be given) or sent to me by facsimile on— (Insert facsimile number) or (Insert details of other electronic or mechanical means of delivery) If you exercise your right to withdraw from the agreement, I am entitled to all money paid or due under the agreement up to the time that I receive your withdrawal notice. I am also entitled to $50 or 10% of the total that is to be paid to me under the agreement (whichever is the lower amount). Apart from these amounts, you will not be liable to me in any way for withdrawing from the agreement. Signed: (Introduction Agent) Dated: __________________ Sch. 2 -- 20 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 19 SCHEDULE 3 ACKNOWLEDGEMENT OF WARNING Introduction Agents Act 1997 Section 33(1)(b)—Acknowledgement of Warning I, of (Name of potential client) (Address) acknowledge that I have received from (Name of introduction agent) ("the agent") a warning that there is no reasonable chance that the provision of an introduction service by him/her/it to me will result in me obtaining the introductions that I am seeking. I understand that if I choose to enter into an introduction agreement with the agent, I am allowed to withdraw from the agreement at any time, provided that I give the agent a written notice signed by me that states that I am withdrawing from the agreement. I also understand that, if I exercise my right to withdraw from the agreement, the agent is entitled to: (1) all money paid or due under the agreement up to the time that he/she/it receives my withdrawal notice; and (2) $50 or 10% of the total that is to be paid to him/her/it under the agreement (whichever is the lower amount). Apart from these amounts, I will not be liable to the agent in any way for withdrawing from the agreement. Signed: (Potential Client) Dated: __________________ Sch. 3 -- 21 of 22 -- S.R. No. 75/1998 Introduction Agents Regulations 1998 20 SCHEDULE 4 OFFENCES IN RESPECT OF WHICH INFRINGEMENT NOTICES MAY BE ISSUED Item Section Description Penalty (penalty units) 1 29(1) Failure by introduction agent to provide client with a copy of agreement 10 2 35 Failure to lodge annual statement 5 3 36(2) Failure by introduction agent to give notice that he/she/it has stopped acting as an introduction agent 2 4 36(4) Failure by introduction agent to lodge final annual statement 5 5 38(1) Failure by introduction agent to retain a copy of an introduction agreement for 7 years 5 6 38(2) Failure by introduction agent to retain other document for 7 years 2 ═══════════════ Sch. 4 -- 22 of 22 --