South Australian Consolidated Acts South Australian Consolidated Acts10—Application of excluded Corporations legislation provisions by the
regulations
(1) The regulations
may declare any matter relating to co-operatives to be an applied
Corporations legislation matter for the purposes of Part 3 of the Corporations
(Ancillary Provisions) Act 2001 in relation to any
excluded Corporations legislation provision or provisions (with such
modifications as may be specified in the declaration).
(2) Without limiting
subsection (1), any such regulations may—
(a)
specify modifications to the definitions and other interpretative provisions
of the Corporations legislation relevant to any excluded Corporations
legislation provision that is the subject of the declaration; and
(b)
provide for ASIC to exercise a function under any excluded
Corporations legislation provision that is the subject of the declaration, but
only if—
(i)
ASIC is to exercise that function pursuant to an
agreement of the kind referred to in section 11(8) or (9A)(b) of the
Australian Securities and Investments Commission Act 2001 of the
Commonwealth; and
(ii)
ASIC is authorised to exercise that function under
section 11 of the Australian Securities and Investments Commission
Act 2001 of the Commonwealth; and
(c)
specify that a reference to ASIC in any excluded Corporations
legislation provision that is the subject of the declaration is to be a
reference to another person or body; and
(d)
identify any excluded Corporations legislation provision to which the
declaration relates by reference to that provision as in force at a particular
time; and
(e)
specify a court (other than the Supreme Court) to exercise any function
conferred on a court or the Court by any excluded Corporations
legislation provision to which the declaration relates.
(3) Words and
expressions used in this section and also in Part 3 of the
Corporations (Ancillary Provisions) Act 2001 have the same meaning as
they have in that Part.