Victorian Consolidated Legislation

Corporations (Victoria) Act 1990 - SECT 85

National scheme laws prevail over co-operative scheme laws

85. National scheme laws prevail over co-operative scheme laws



(1) This section provides for the national scheme laws of this jurisdiction to
supersede the co-operative scheme laws, which are to continue to operate of
their own force only in relation to-

   (a)  matters arising before the commencement of this section; and

   (b)  matters arising, directly or indirectly, out of such matters-

in so far as the national scheme laws or the Corporations legislation do not
deal with those matters.

(2) Where a co-operative scheme law is inconsistent with a national scheme law
of this jurisdiction, the national scheme law prevails and, to the extent of
the inconsistency, the co-operative scheme law does not operate.

(3) For the purposes of subsection (2), a co-operative scheme law is
inconsistent with a national scheme law if it would be inconsistent within the
meaning of section 109 of the Constitution of the Commonwealth of Australia if
the national scheme law were an Act of the Commonwealth.

(4) In this section-

Corporations legislation means the Corporations legislation to which Part 1.1A
of the Corporations Act 2001 of the Commonwealth applies.