CORPORATIONS REGULATIONS 2001 - REG 10.2.94B Prohibitions under paragraphs 827(1)(d) and 1192(1)(d) of the old Corporations Act made after FSR commencement
CORPORATIONS REGULATIONS 2001 - REG 10.2.94B
Prohibitions under paragraphs 827(1)(d) and 1192(1)(d) of the old Corporations Act made after FSR commencement(1) For section 1444 of the Act, on and after the FSR commencement, paragraphs 827(1)(d) and 1192(1)(d) of the old Corporations Act, and associated provisions, continue to apply to the extent necessary to allow a prohibition to be made or enforced against a person in relation to:
(a) conduct or another matter that occurred before the FSR commencement; or
(b) conduct or another matter that:
(i) occurred after the FSR commencement; and
(ii) is regulated in accordance with section 1432 or 1436A of the Act.
(2) A prohibition made in relation to conduct or another matter mentioned in subregulation (1) is taken to be a prohibition made under paragraph 827(1)(d) or 1192(1)(d) of the old Corporations Act.
(3) For subregulation (2), nothing in the relevant old
legislation (including the
Australian Securities and Investments Commission Act 2001 ) prevents ASIC from
drafting or amending the terms of a prohibition for the purpose of ensuring
that the prohibition has the same effect under the amended Corporations Act as
it had under the old Corporations Act, or an effect equivalent to the effect
it had under the old Corporations Act.