Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) The regulations may declare any matter relating to cooperatives 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 any modifications that are 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 referred to in section 11(8) or (9A)(b) of the ASIC Act; and
(ii) ASIC is authorised to exercise that function under section 11 of the ASIC Act; 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; 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.