Commonwealth Consolidated Acts

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 3

             (1)  The Companies (Foreign Take‑overs) Act 1972 , the Companies (Foreign Take‑overs) Act 1973 and the Companies (Foreign Take‑overs) Act 1974 are repealed.

             (2)  Notwithstanding the repeal of the Companies (Foreign Take‑overs) Act 1972‑1974 , that Act, other than section 17 shall be deemed to continue in force in relation to:

                     (a)  an offer (including an offer constituting, or made in pursuance of an invitation constituting, a take‑over offer) to sell or purchase shares that was accepted before the date of commencement of this Act; and

                     (b)  an issue of shares that occurred before that date.

             (3)  Without limiting the generality of subsection (2), orders may be made under sections 14 and 15 of the repealed Act in pursuance of that subsection.

             (4)  For the purposes of this Act, but without limiting the operation of subsection (2):

                     (b)  an order in force under subsection 13(6) of the repealed Act immediately before that date has effect on and after that date as if it were an order made under section 22 of this Act;

                     (c)  an order in force under paragraph 13(2)(c) or (3)(c) of the repealed Act immediately before that date has effect on and after that date as if it were an order made under subsection 18(2) of this Act; and

                     (d)  an order in force under paragraph 13(2)(d) or (3)(d) of the repealed Act immediately before that date has effect on and after that date as if it were an order made under subsection 18(3) of this Act.

          (4A)  For the purposes of the institution, after the commencement of this subsection, of proceedings for an offence referred to in section 21 of the Companies (Foreign Take‑overs) Act 1972 , the reference in that section to the Commonwealth Industrial Court shall be read as a reference to the Federal Court of Australia.

             (5)  Nothing in this section affects the operation of section 8 of the Acts Interpretation Act 1901‑1973 .

             (6)  Expressions used in this section have the same respective meanings as they had in the repealed Act.