Commonwealth of Australia (US securities entity)
 | |
| Company type | Form 18 registered entity |
|---|---|
| Industry | Debt securities |
| Founded | 2002 in Washington, D.C., United States |
| Founder | Australian Government |
| Headquarters | Australian Embassy, 1601 Massachusetts Avenue, N.W., Washington D.C. , United States |
Area served | United States |
| Owner | Australian Government |
The Commonwealth of Australia is a Form 18 United States SEC registered entity[1] representing the nation of Australia for the purpose of issuing securities in the US market. Form 18 registrations are used only for foreign government registrations with the SEC and do not create a corporation.[2][3][4] Although digitally available filings date back to 2002,[5] attention was brought to it following the 2008 Global Financial Crisis and the subsequent introduction of the deposit guarantee scheme under the Rudd government.[6][7] If an institution covered by the scheme were to collapse, the Australian Government would, at its discretion, issue debt securities that would be subject to US laws and financial regulations.[7]: 3 As of 2020, Australia has yet to issue any securities related to the deposit guarantee scheme through the entity.[8][9]
The registration has been subject to various conspiracy theories.[10] Most relate to the idea that Australia ceased being a sovereign nation following the formation of a "Corporate" entity,[1] or that the entity violates the Australian constitution.[11][12] These conspiracies are baseless; the registration of Australia utilized Form 18, which did not create a corporate entity and thus does not violate Australia's sovereignty. US regulations and laws would only apply to operations done in the US, that is, only securities issued in the US would be subject to US regulations.[7][13]
References
[edit]- ^ a b Sudy, Robert (28 June 2018). "Australia is NOT a foreign corporation registered with the U.S. S.E.C." FREEMAN DELUSION: The Organised Pseudolegal Commercial Argument in Australia. Retrieved 26 November 2020.
- ^ https://www.aap.com.au/factcheck/no-the-australian-government-isnt-a-privately-owned-us-company/
- ^ "Documents relating to registration with the SEC of the Australian Government as a privately owned American company | Treasury.gov.au". treasury.gov.au. Retrieved 26 November 2020.
- ^ "EDGAR Search Results". www.sec.gov. Retrieved 26 November 2020.
- ^ SEC. "Commonwealth Of Australia 2001 Annual report for foreign governments 18-K". SEC.report. Retrieved 21 February 2021.
- ^ "Financial Claims Scheme | APRA". www.apra.gov.au. Retrieved 26 November 2020.
- ^ a b c Australian Government (29 June 2009). Commonwealth of Australia Guarantee of Debt Securities of Australian Authorised Deposit-taking institutions covered by the Australian Government Guarantee scheme for Large Deposits and Wholesale Funding (PDF) (Report). Securities Exchange Commission. Retrieved 27 November 2020.
- ^ "Commonwealth Of Australia SEC Registration". sec.report. Retrieved 26 November 2020.
- ^ "Why Australia is Actually an American Company". YouTube. Archived from the original on 15 June 2020. Retrieved 27 November 2020.
- ^ "No, the Australian government isn't a privately owned US company - Australian Associated Press". AustralianAssociatedPress. 11 November 2020. Retrieved 21 February 2021.
- ^ "Is the Commonwealth of Australia, registered as a corporation in the USA, a legal entity under the Australian Constitution? - a Freedom of Information request to Department of the Prime Minister and Cabinet". Right To Know. 13 March 2013. Retrieved 26 November 2020.
- ^ "High Court writ sought to challenge Australian governments acting as a corporation registered in the US | Sovereign Union - First Nations Asserting Sovereignty". nationalunitygovernment.org. Retrieved 26 November 2020.
- ^ "Is the Australian Government a US Corporation?". Am I Making Sense?. 28 November 2012. Retrieved 27 November 2020.