Victorian Consolidated Legislation

Corporations (Ancillary Provisions) Act 2001 - SECT 25

Regulations

25. Regulations



(1) The Governor in Council may make regulations for or with respect to any
matter or thing required or permitted by this Act to be prescribed or
necessary to be prescribed to give 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.
Those provisions then have effect as if they were so modified.

(3) 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; or

   (ii) a specified provision of that legislation; or

   (iii) that legislation other than a specified provision; or

   (iv) that legislation otherwise than to a specified extent;

   (b)  declare a provision of a law of the State, or a provision of a law of
        the State 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).

(4) 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 State
corporations law to be exercised by a court of the State, or confirming that
such jurisdiction is exercisable by a court of the State, including (without
limitation) provisions for or with respect to-

   (a)  conferring jurisdiction on courts of the State; and

   (b)  the construction of references in the old corporations legislation or
        the old ASIC legislation or a previous State corporations law to
        Commonwealth authorities and officers; and

   (c)  the disapplication of provisions of the old corporations legislation
        or the old ASIC legislation or a previous State 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; and

   (d)  the treatment of offences arising under the old corporations
        legislation or the old ASIC legislation or a previous State
        corporations law (including the specification of penalties); and

   (e)  prescribing modifications of the old corporations legislation or the
        old ASIC legislation or a previous State corporations law; and

   (f)  associated, procedural and consequential matters.

(5) Without limiting subsection (1), the regulations may deal with matters of
a transitional nature relating to the transition from the application of
provisions of the old corporations legislation or a previous State
corporations law to the application of provisions of the new corporations
legislation or the new ASIC legislation.





(6) Any provision of the regulations may be expressed to take effect from a
time that is earlier than the beginning of the day on which the regulations
containing the provision are made, not being a time earlier than immediately
before the relevant time or, in the case of regulations made under section
22(2)(f) or 22A, the time when the amending Act (or the relevant provision of
that Act) comes into operation or is taken to have come into operation.

(7) To the extent to which a provision of a regulation takes effect from a
time that is earlier than the beginning of 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 State
        or an authority of the State), 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 State or an
        authority of the State) in respect of anything done or omitted to be
        done before the date of making of those regulations.

(8) The regulations have effect despite anything to the contrary in Part 2.

(9) In this section matters of a transitional nature includes matters of an
application or savings nature.

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