Announcement date
18 September 2025
Link to announcement
Commonwealth Inscribed Stock Regulations 2025
Loans Securities Regulations 2025
Problem being addressed
The Commonwealth Inscribed Stock Regulation 2015 and Loans Securities Regulation 2015 (‘the Instruments’), as per the Legislation Act 2003, have been scheduled to sunset on 1 October 2025.
Commonwealth Inscribed Stock Regulation 2015
- These regulations support registry arrangements and retail investors holding of older Australian Government Securities. They establish the stock ledger and rules for ownership transfer, and provide a mechanism for repaying lost, stolen, or defaced bearer securities.
Loans Securities Regulation 2015
- These regulations relate to wholesale investors for older paper-form (scrip) Government Securities, all of which have matured. They enable repayment of lost, stolen, or destroyed scrip securities still outstanding.
If these regulations are not remade, these protections and repayment mechanisms would cease, preventing bondholders from redeeming against their securities.
Proposal
The Treasury propose to remake the Instruments without significant amendments.
Assessed Impact Analysis outcome
Sunsetting instrument
Assessment comments
Consistent with the Australian Government's Policy Impact Analysis requirements for sunsetting instruments, the Treasury has certified it has conducted a consultation process with the Australian Office of Financial Management (AOFM) and public consultation and the Instruments are operating effectively and efficiently. Therefore, an Impact Analysis is not required for the remaking of the Instruments.
Regulatory burden
The Treasury advises there will be no change in regulatory costs.