New South Wales Consolidated Acts

CORPORATIONS (ANCILLARY PROVISIONS) ACT 2001 - SECT 22A

22A Power to make regulations construing certain references in Acts

(1) In this section, "affected reference" means:

(a) a reference in an Act to a provision of the new ASIC Act or the new Corporations Act, or

(b) a reference in an Act to a term, expression or concept defined or used in the new ASIC Act or the new Corporations Act,

that is, or is to be, affected in any way by the enactment or proposed enactment by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act.

(2) The Governor, on the recommendation of the Minister, may make regulations providing that an affected reference in any Act is to be construed as set out in the regulations.

(3) The Minister may make a recommendation under subsection (2) only if he or she considers that:

(a) each substantive provision of the proposed regulations is necessary as a consequence of the enactment, or proposed enactment, by the Parliament of the Commonwealth of an Act amending the new ASIC Act or the new Corporations Act, and

(b) subject to subsection (4), the proposed regulations do not deal with any other matter.

(4) Regulations made under this section may deal with matters of a transitional nature (including matters of application or savings nature) consequent on the enactment of the amending Act referred to in subsection (3) (a).

Note: Section 25 (6) and (7) enable a provision of the regulations made under this section to have effect from a time that is earlier than the day on which they are made.

(5) Regulations made under this section have effect according to their tenor.