Victorian Consolidated Legislation

Corporations (Commonwealth Powers) Act 2001 - SECT 5

Termination of references

5. Termination of references



(1) Subject to earlier termination under this section, the references
terminate on the day that is the fifth anniversary of the day of commencement
of the Corporations legislation or on a later day fixed by the Governor in
Council by proclamation under section 6.





(2) Both the references terminate on a day that is earlier than the prescribed
termination day if the Governor in Council fixes that earlier day by
proclamation under section 7 as the day on which the references terminate.

(3) The amendment reference alone terminates on a day that is earlier than the
prescribed termination day if the Governor in Council fixes that earlier day
by proclamation under section 7 as the day on which the amendment reference
terminates.

(4) If the amendment reference terminates before the initial reference, the
termination of the amendment reference does not affect-

   (a)  laws that were made under the amendment reference before that
        termination but have not come into operation before that termination;
        or

   (b)  the continued operation in the State of the Corporations legislation
        as in operation immediately before that termination or as subsequently
        amended or affected by-

   (i)  laws referred to in paragraph (a); or

   (ii) provisions referred to in section 4(4)(a) or (b).

(5) For the purposes of subsection (4)-

   (a)  the laws referred to in subsection (4)(a) include Corporations
        instruments; and

   (b)  the reference in subsection (4)(b) to the Corporations legislation as
        in operation immediately before the termination of the amendment
        reference includes that legislation as affected by Corporations
        instruments that have come into operation before that time.