Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) The Administrator may make regulations, not inconsistent with this Act, prescribing matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.
(2) Without limiting subsection (1), the Regulations may provide that certain provisions of Part 2 are taken to be modified as set out in the Regulations (and those provisions then have effect as if they were so modified).
(3) Without limiting subsection (1), the Regulations may amend regulations made under another Act, rules and by-laws, but only if the amendment is consequential on the enactment, or proposed enactment, by the Parliament of the Commonwealth of:
(a) the old ASIC Act;
(b) the Corporations Act 1989 of the Commonwealth;
(c) an Act amending an Act specified to in paragraph (a) or (b);
(d) the new ASIC Act; or
(e) the new Corporations Act.
(4) Without limiting subsection (1), the Regulations may:
(a) declare a matter to be an excluded matter for the purposes of section 5F of the new Corporations Act in relation to:
(i) the whole of the Corporations legislation to which Part 1.1A of that Act applies;
(ii) a specified provision of that legislation;
(iii) that legislation other than a specified provision; or
(iv) that legislation otherwise than to a specified extent; and
(b) declare a provision of a law of the Northern Territory, or a provision of a law of the Northern Territory as amended as specified in the Regulations, to be a Corporations legislation displacement provision for the purposes of section 5G of the new Corporations Act (either generally or specifically in relation to a provision of the Corporations legislation to which Part 1.1A of that Act applies).
(5) Without limiting subsection (1), the Regulations may make provision for or with respect to enabling jurisdiction conferred by or under the old corporations legislation or the old ASIC legislation or a previous Northern Territory corporations law to be exercised by a court of the Northern Territory, or confirming that such jurisdiction is exercisable by a court of the Northern Territory, including (without limitation) provisions for or with respect to:
(a) conferring jurisdiction on courts of the Northern Territory;
(b) the construction of references in the old corporations legislation or the old ASIC legislation or a previous Northern Territory corporations law to Commonwealth authorities and officers;
(c) the disapplication of provisions of the old corporations legislation or the old ASIC legislation or a previous Northern Territory corporations law, including provisions that contemplate the administration or enforcement of laws as if they were Commonwealth laws or that contemplate offences and other matters as being offences against and matters under Commonwealth laws;
(d) the treatment of offences arising under the old corporations legislation or the old ASIC legislation or a previous Northern Territory corporations law (including the specification of penalties);
(e) prescribing modifications of the old corporations legislation or the old ASIC legislation or a previous Northern Territory corporations law; and
(f) associated procedural and consequential matters.
(6) Without limiting subsection (1), the Regulations may deal with matters of a transitional nature that relate to:
(a) the transition from the application of provisions of the old corporations legislation or a previous Northern Territory corporations law to the application of provisions of the new corporations legislation or the new ASIC legislation; and
(b) the repeal of an Act under section 7,
and, in so doing, the Regulations may:
(c) provide for the appointment by the Minister of a person (whether by name, by reference to an office, position or designation held by a person or by reference to a person holding, acting in or performing the duties of an office, position or designation) to be a person who may, in relation to an event, circumstance or thing that happened or arose before the commencement of section 7, exercise a power or perform a function conferred or imposed on the Commissioner for Corporate Affairs (within the meaning of the Companies (Administration) Act ) under an Act in force before that commencement as if that Act continued to be in force;
(d) provide that, if no person holds the appointment referred to in paragraph (c), the Chief Executive Officer of the Agency administering this Act may, in relation to an event, circumstance or thing that happened or arose before the commencement of section 7, exercise a power or perform a function conferred or imposed on the Commissioner for Corporate Affairs (within the meaning of the Companies (Administration) Act ) under an Act in force before that commencement as if that Act continued to be in force; and
(e) prohibit or regulate the exercise of a power or performance of a function of the Commissioner for Corporate Affairs by a person appointed in accordance with paragraph (c) or the Chief Executive Officer referred to in paragraph (d), including by imposing conditions, limitations or qualifications on the exercise of such a power or performance of such a function by that person.
(7) Any provision of the Regulations may be expressed to take effect from a time that is before the day on which the Regulations containing the provision are made, not being a time earlier than immediately before the relevant time.
(8) To the extent to which a provision of a regulation takes effect from a time that is before the day on which the Regulations containing the provision are made, the provision does not operate so as:
(a) to affect in a manner prejudicial to any person (other than the Northern Territory or an authority of the Northern Territory), the rights of that person existing before the date of making of those Regulations; or
(b) to impose liabilities on any person (other than the Northern Territory or an authority of the Northern Territory) in respect of anything done or omitted to be done before the date of making of those Regulations.
(9) The Regulations have effect despite anything to the contrary in Part 2.
(10) In this section, matters of a transitional nature includes matters of an application or savings nature.