• Specific Year
    Any

CORPORATIONS (SECURITIES EXCHANGES LEVIES) ACT 2001 - SECT 8 Transitional matters

CORPORATIONS (SECURITIES EXCHANGES LEVIES) ACT 2001 - SECT 8

Transitional matters

(1) Regulations prescribing an amount for the purposes of subsection 903(2) of the old Corporations Law that were in force immediately before the commencement of this Act continue to have effect, and may be amended or repealed, as if they were made under section 7 of this Act for the purposes of the definition of high point in subsection 6(1) of this Act. (2) Regulations prescribing an amount for the purposes of subsection 903(8) of the old Corporations Law that were in force immediately before the commencement of this Act continue to have effect, and may be amended or repealed, as if they were made under section 7 of this Act for the purposes of the definition of low point in subsection 6(1) of this Act. (3) If, immediately before the commencement of this Act, an amount was payable by a person to a securities exchange under subsection 902(2) of the old Corporations Law of a State or Territory in this jurisdiction, a liability to pay a levy of the same amount, in respect of the same matter, to the Commonwealth is imposed on the person by this subsection on the commencement of this Act. The levy is payable to the securities exchange as agent for the Commonwealth. (4) If, immediately before the commencement of this Act, an amount was payable by a person to a securities exchange under subsection 904(1) of the old Corporations Law of a State or Territory in this jurisdiction, a liability to pay a levy of the same amount, in respect of the same matter, to the Commonwealth is imposed on the person by this subsection on the commencement of this Act. The levy is payable to the securities exchange as agent for the Commonwealth. (5) A determination of an amount in force immediately before the commencement for the purposes of subsection 902(1), 902(2) or 904(1) of the old Corporations Law of a State or Territory in this jurisdiction continues to have effect (and may be dealt with) after the commencement of this Act as if it were:

(a)
in the case of a determination for the purposes of subsection 902(1)—a determination for the purposes of subsection 5(1) of this Act; or

(b)
in the case of a determination for the purposes of subsection 902(2)—a determination for the purposes of subsection 5(2) of this Act; or

(c)
in the case of a determination for the purposes of subsection 904(1)—a determination for the purposes of subsection 5(3) of this Act.