Is the Commonwealth of Australia really just a corporation owned by the United States of America, asks Dennis McIntyre.
Recently I was pointed to the fact that an entity titled ‘Commonwealth of Australia’ is registered on the United States Securities exchange (SEC). After discovering this I looked down the page at the list of previous filings and clicked on 18-K/A: ‘Amend Annual report for foreign governments and political subdivisions Acc-no: 0001341004-10-001939 (34 Act). Size: 12 MB’.
Clicking on ‘Documents’ opens up several hyperlink options for documents submitted. The first to open is Form 18-K/A, which is for foreign governments and political subdivisions thereof. I noticed on this form an asterix highlighting the following point:
“The Commonwealth of Australia files Annual Reports on Form 18-K voluntarily in order for the Commonwealth of Australia to incorporate such Annual Reports into its shelf registration statements.”
I decided to investigate the ‘shelf registration statement’ and Wikipedia came up with: “Shelf registration or shelf offering or shelf prospectus is a type of public offering where certain issuers are allowed to offer and sell securities to the public without a separate prospectus for each act of offering. Instead, there is a single prospectus for multiple, undefined future offerings. The prospectus (often as part of a registration statement) may be used to offer securities for up to several years after its publication.”
It also made the following point: “Shelf registration is usually available to companies deemed reliable by the securities regulation authority in the relevant country. Shelf offerings, due to their purposefully time-constrained nature, are examined far less rigorously by those authorities, compared to standard public offerings.”
In regards to the next document, which is a description of Australia, the following point is made:
“Incorporation of documents by reference. This document is an exhibit to the Commonwealth of Australia’s Annual Report on Form 18-K (Annual Report) under the US Securities Exchange Act of 1934 for the fiscal year ended 30 June 2009.
“All amendments to such Annual Report filed by the Commonwealth of Australia on Form 18-K/A following the date hereof shall be incorporated by reference into this document. Any statement contained herein, or deemed to be incorporated by reference herein, shall be deemed to be modified or superseded for purposes of this document to the extent that a statement contained herein or in any other subsequently filed document that also is or is deemed to be incorporated by reference herein modifies or supersedes such statements. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this document.”
The third document is the “Mid-Year Economic and Fiscal Outlook 2010-11.
“Statement by the honourable Wayne Swan MP and Deputy Prime Minister and Treasurer of the Commonwealth of Australia and Senator the Honourable Penny Wong Minister for Finance and Deregulation of the Commonwealth of Australia.”
The next document is: “Supplement to agreement for offering state/territory debt securities in connection with the Australian government guarantee of state and territory borrowing…
Excerpted from an article originally published in the Nov/Dec 2013 issue of Think & Grow Rich Inc. magazine. If you are a subscriber to Think & Grow Rich Inc. magazine, you will receive this article in your Nov/Dec 2013 issue of TGR. If you are not a subscriber, click here to subscribe.