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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Corporations (Ancillary Provisions) Bill 2001
CONTENTS
Part 1 -- Preliminary
1. Short title 2
2. Commencement 2
3. Definitions 2
4. Corresponding provision 7
5. Operation of Act 8
Part 2 -- Transitional provisions
6. National scheme laws 9
7. Effect of section 6 9
8. Certain provisions of State law taken to operate
despite national scheme law 11
9. Court proceedings and orders 13
10 . Existing rules of court continue to have effect 14
11 . References to old/new corporations legislation or
old/new ASIC legislation 14
12 . References to companies incorporated in a State or
Territory 18
Part 3 -- Application of
Commonwealth Corporations
legislation to State matters
13 . Definitions 21
14 . State provisions to which this Part applies 21
15 . Effect of declaratory provisions 22
16 . Modifications to applied law 22
17 . Conferral of functions on ASIC 24
18 . Conferral of functions or duties on State courts 24
page i
15--2
Corporations (Ancillary Provisions) Bill 2001
Contents
19 . Implied application of regulations and other
provisions of Corporations legislation 24
20 . Proceedings for offences 25
21 . Application of Corporations legislation by other
means 26
Part 4 -- General
22 . Power to amend certain statutory rules 27
23 . Rules of the Supreme Court 27
24 . ASIC has certain functions and powers 28
25 . Regulations 29
Part 5 -- Amendment of certain Acts
26 . Companies (Application of Laws) Act 1981 amended 32
27 . Securities Industry (Application of Laws) Act 1981
amended 32
28 . Futures Industry (Application of Laws) Act 1986
amended 33
29 . Jurisdiction of Courts (Cross-vesting) Act 1987
amended 33
30 . Corporations (Western Australia) Act 1990 amended 33
Schedule 1 38
page ii
Western Australia
LEGISLATIVE COUNCIL
Corporations (Ancillary Provisions) Bill 2001
A Bill for
An Act to enact ancillary provisions, including transitional
provisions, relating to the enactment by the Parliament of the
Commonwealth of new corporations legislation and new ASIC
legislation under its legislative powers, including powers with respect
to matters referred to that Parliament for the purposes of
section 51(xxxvii) of the Constitution of the Commonwealth, and to
amend certain Acts, and for other purposes.
The Parliament of Western Australia enacts as follows:
page 1
Corporations (Ancillary Provisions) Bill 2001
Part 1 Preliminary
s. 1
Part 1 -- Preliminary
1. Short title
This Act may be cited as the Corporations (Ancillary
Provisions) Act 2001.
5 2. Commencement
This Act comes into operation immediately before the
Corporations Act 2001 of the Commonwealth, as originally
enacted, comes into operation.
Note: The Corporations (Commonwealth Powers) Act 2001 refers certain
10 matters relating to corporations and financial products and services to the
Parliament of the Commonwealth for the purposes of section 51(xxxvii) of the
Constitution.
3. Definitions
(1) In this Act --
15 "ASIC" means the Australian Securities and Investments
Commission;
"carried over provision" --
(a) of the old corporations legislation means a provision
of that legislation that --
20 (i) was in force immediately before the relevant
time; and
(ii) corresponds to a provision of the new
corporations legislation;
and
25 (b) of the old ASIC legislation means a provision of that
legislation that --
(i) was in force immediately before the relevant
time; and
(ii) corresponds to a provision of the new ASIC
30 legislation;
page 2
Corporations (Ancillary Provisions) Bill 2001
Preliminary Part 1
s. 3
"co-operative scheme law" has the meaning given by
section 84 of the Corporations (Western Australia)
Act 1990;
"corresponds" has a meaning affected by section 4;
5 "law of the State" includes a statutory rule and any other
instrument of a legislative character made under an Act;
"liability" includes a duty or obligation;
"made" includes issued, given or published;
"national scheme law of this jurisdiction" has the same
10 meaning as in the Corporations (Western Australia)
Act 1990;
"new ASIC Act" means the Australian Securities and
Investments Commission Act 2001 of the Commonwealth;
"new ASIC legislation" means --
15 (a) the new ASIC Act; and
(b) the new ASIC Regulations (as amended and in force
from time to time) and any other regulations made
under the new ASIC Act; and
(c) the laws of the Commonwealth referred to in
20 paragraph (a)(ii) and (in relation to the State)
paragraph (b)(iii) of the definition of "old ASIC
legislation" in section 254(1) of the new ASIC Act,
being those laws as they apply after the relevant time;
and
25 (d) the preserved instruments;
"new ASIC Regulations" means the old ASIC Regulations
that, because of section 264 of the new ASIC Act, have
effect as if they were made under section 251 of that Act;
"new Corporations Act" means the Corporations Act 2001 of
30 the Commonwealth;
"new corporations legislation" means --
(a) the new Corporations Act; and
page 3
Corporations (Ancillary Provisions) Bill 2001
Part 1 Preliminary
s. 3
(b) the new Corporations Regulations (as amended and
in force from time to time) and any other regulations
made under the new Corporations Act; and
(c) the laws of the Commonwealth referred to (in relation
5 to the State) in paragraph (c) of the definition of "old
corporations legislation" in section 1371(1) of the
new Corporations Act, being those laws as they apply
after the relevant time; and
(d) the preserved instruments;
10 "new Corporations Regulations" means the old Corporations
Regulations that, because of section 1380 of the new
Corporations Act, have effect as if they were made under
section 1364 of that Act;
"old application Act" means the Corporations (Western
15 Australia) Act 1990 as in force from time to time before the
relevant time;
"old ASIC Act" means the Australian Securities and
Investments Commission Act 1989 of the Commonwealth
as in force from time to time before the relevant time;
20 "old ASIC Law" means the ASIC Law of Western Australia
(within the meaning of the old application Act) as in force
from time to time before the relevant time;
"old ASIC legislation" means --
(a) the old ASIC Law and the old ASIC Regulations, and
25 any instruments made under that Law or those
Regulations; and
(b) the old application Act, and any instruments made
under that Act, as applying in relation to the old
ASIC Law and the old ASIC Regulations from time
30 to time before the relevant time; and
(c) the laws of the Commonwealth as applying in
relation to the old ASIC Law and the old ASIC
Regulations from time to time before the relevant
time as laws of, or for the government of, the State
page 4
Corporations (Ancillary Provisions) Bill 2001
Preliminary Part 1
s. 3
because of Part 8 of the old application Act, and any
instruments made under those laws as so applying;
"old ASIC Regulations" means the ASIC Regulations of
Western Australia (within the meaning of the old
5 application Act) as in force from time to time before the
relevant time;
"old Corporations Law" means the Corporations Law of
Western Australia, within the meaning of the old
application Act, as in force from time to time before the
10 relevant time;
"old corporations legislation" means --
(a) the old Corporations Law and the old Corporations
Regulations, and any instruments made under that
Law or those Regulations; and
15 (b) the old application Act, and any instruments made
under that Act, as applying in relation to the old
Corporations Law and the old Corporations
Regulations from time to time before the relevant
time; and
20 (c) the laws of the Commonwealth as applying in
relation to the old Corporations Law and the old
Corporations Regulations from time to time before
the relevant time as laws of, or for the government of,
the State because of Part 8 of the old application Act,
25 and any instruments made under those laws as so
applying;
"old Corporations Regulations" means the Corporations
Regulations of Western Australia, within the meaning of
the old application Act, as in force from time to time before
30 the relevant time;
"order", in relation to a court, includes any judgment,
conviction or sentence of the court;
page 5
Corporations (Ancillary Provisions) Bill 2001
Part 1 Preliminary
s. 3
"preserved instrument" means --
(a) in relation to the new corporations legislation, an
instrument that, because of section 1399 of the new
Corporations Act, has effect after the relevant time as
5 if it were made under a provision of the new
corporations legislation; and
(b) in relation to the new ASIC legislation, an instrument
that, because of section 275 of the new ASIC Act, has
effect after the relevant time as if it were made under
10 a provision of the new ASIC legislation;
"previous State corporations law" means --
(a) the Companies Act 1961; or
(b) the Marketable Securities Transfer Act 1970; or
(c) the Securities Industry Act 1975; or
15 (d) a co-operative scheme law; or
(e) any other Act, or provision of an Act, specified by the
regulations under subsection (2);
"provision" of a law includes any portion of the law;
"referring State" has the meaning given by section 4 of the
20 new Corporations Act;
"relevant time" means the time when the new Corporations
Act, as originally enacted, comes into operation;
"right" includes an interest or status;
"State" includes the Northern Territory;
25 "statutory rule" means a regulation, rule or by-law;
"Territory" means the Australian Capital Territory or the
Jervis Bay Territory.
(2) The regulations may provide that a specified Act, or a specified
provision of an Act, is a previous State corporations law for the
30 purposes of this Act.
page 6
Corporations (Ancillary Provisions) Bill 2001
Preliminary Part 1
s. 4
4. Corresponding provision
(1) For the purposes of this Act, a provision (the "old provision")
of the old corporations legislation or the old ASIC legislation
corresponds to a provision (the "new provision") of the new
5 corporations legislation or the new ASIC legislation (and vice
versa) if --
(a) the old provision and the new provision are substantially
the same, unless the regulations specify that the
2 provisions do not correspond; or
10 (b) the regulations specify that the 2 provisions correspond.
(2) For the purposes of this Act, a provision (the "old provision")
of a previous State corporations law corresponds to a provision
(the "new provision") of a national scheme law of this
jurisdiction (and vice versa) if --
15 (a) the old provision and the new provision are substantially
the same, unless the regulations specify that the
2 provisions do not correspond; or
(b) the regulations specify that the 2 provisions correspond.
(3) For the purposes of subsection (1)(a) or (2)(a), differences of all
20 or any of the following kinds are not sufficient to mean that
2 provisions are not substantially the same --
(a) differences in the numbering of the provisions;
(b) differences of a minor technical nature (for example,
differences in punctuation, or differences that are
25 attributable to the correction of incorrect cross
references);
(c) the fact that one of the provisions refers to a
corresponding previous law and the other does not;
(d) for the purposes of subsection (1)(a), the fact that --
30 (i) the old provision allowed a court to exercise
powers on its own motion but the new provision
does not; or
page 7
Corporations (Ancillary Provisions) Bill 2001
Part 1 Preliminary
s. 5
(ii) the old provision required a court to apply a
criterion of public interest but the new provision
requires a court to apply a criterion of justice and
equity; or
5 (iii) the new provision requires ASIC to take account
of public interest but the old provision did not;
(e) for the purposes of subsection (1)(a), other differences
that are attributable to the fact that the new corporations
legislation and the new ASIC legislation apply as
10 Commonwealth laws in this and other States and in the
Territories;
(f) other differences of a kind prescribed by the regulations
for the purposes of this paragraph.
(4) Subsection (3) is not intended to otherwise limit the
15 circumstances in which 2 provisions are, for the purposes of
subsection (1)(a) or (2)(a), substantially the same.
(5) The regulations may provide that --
(a) a specified provision of the old corporations legislation
does, or does not, correspond to a specified provision of
20 the new corporations legislation;
(b) a specified provision of the old ASIC legislation does, or
does not, correspond to a specified provision of the new
ASIC legislation;
(c) a specified provision of a previous State corporations
25 law does, or does not, correspond to a specified
provision of a national scheme law of this jurisdiction.
5. Operation of Act
This Act has effect despite any provision of the old application
Act or of the applicable provisions (as defined in that Act) of
30 the State.
page 8
Corporations (Ancillary Provisions) Bill 2001
Transitional provisions Part 2
s. 6
Part 2 -- Transitional provisions
6. National scheme laws
(1) The national scheme laws of this jurisdiction operate of their
own force only in relation to --
5 (a) matters arising before the relevant time; and
(b) matters arising, directly or indirectly, out of such
matters,
in so far as those matters are not dealt with by the new
corporations legislation, the new ASIC legislation or the
10 co-operative scheme laws.
(2) Except as provided by subsection (1) and section 9, the national
scheme laws of this jurisdiction have no operation of their own
force at and after the relevant time.
7. Effect of section 6
15 (1) To the extent that a national scheme law of this jurisdiction
ceases to operate of its own force because of section 6, the
effect is that which would have resulted had this Act and that
law been Commonwealth Acts in relation to which the Acts
Interpretation Act 1901 of the Commonwealth as in force on
20 1 November 2000 applied.
Note: Part III of the Acts Interpretation Act 1901 of the Commonwealth
contains provisions dealing with the effect of repeal of an Act. These
provisions protect accrued rights and liabilities and allow legal proceedings in
respect of them to be commenced or continued. However, this section and
25 section 9 have the effect of cancelling certain rights and liabilities and
terminating certain legal proceedings.
(2) Despite subsection (1), if by force of Chapter 10 of the new
Corporations Act or Part 16 of the new ASIC Act a person
acquires, accrues or incurs a right or liability in substitution for
30 a pre-commencement right or liability, the pre-commencement
right or liability is cancelled at the relevant time and ceases at
that time to be a right or liability under a law of the State.
page 9
Corporations (Ancillary Provisions) Bill 2001
Part 2 Transitional provisions
s. 7
(3) Despite subsection (1), a proceeding in a court that --
(a) was started before the relevant time; and
(b) was --
(i) under a provision of the old corporations
5 legislation or the old ASIC legislation; or
(ii) brought as, or connected with, a prosecution for an
offence against a provision of the old corporations
legislation or the old ASIC legislation;
and
10 (c) was a proceeding to which section 1383 of the new
Corporations Act or section 267 of the new ASIC Act
applies at the relevant time; and
(d) had not been concluded or terminated before the
relevant time,
15 is terminated at the relevant time by force of this subsection.
(4) Despite subsection (1), if by force of a Commonwealth Act (other
than the new Corporations Act) referred to in sections 1393 to
1396 of the new Corporations Act a person becomes liable to pay
an amount that is the same, and is in respect of the same matter, as
20 an amount (the "pre-commencement amount") that was payable
by the person before the relevant time under a provision of the old
corporations legislation, the person's liability to pay the
pre-commencement amount is cancelled at the relevant time and
ceases at that time to be a liability under a law of the State.
25 (5) In subsection (2) "pre-commencement right or liability"
means a right or liability, whether civil or criminal, other than a
right or liability under an order made by a court before the
relevant time or a liability referred to in section 1397(4) of the
new Corporations Act, that --
30 (a) was acquired, accrued or incurred under --
(i) a carried over provision of the old corporations
legislation or the old ASIC legislation; or
page 10
Corporations (Ancillary Provisions) Bill 2001
Transitional provisions Part 2
s. 8
(ii) a provision of the old corporations legislation or
the old ASIC legislation that was no longer in
force immediately before the relevant time;
and
5 (b) was in existence immediately before the relevant time.
(6) Nothing in this Act revives the co-operative scheme laws or
otherwise affects the superseding of those laws by the national
scheme laws of this jurisdiction as provided by Part 13
Division 2 of the old application Act and any regulations made
10 under section 80 of that Act for the purposes of that Division.
8. Certain provisions of State law taken to operate despite
national scheme law
(1) Any provision of a relevant law of the State that --
(a) makes (or, if not in force, would make on coming into
15 force) provision in relation to a matter in a manner that
is inconsistent with a provision or provisions of a
national scheme law of this jurisdiction; or
(b) but for the operation of section 5 of the old application Act
would have made (or, if not in force, would have made on
20 coming into force) provision in relation to a matter in a
manner that is inconsistent with a provision or provisions
of a national scheme law of this jurisdiction,
is declared by this subsection to have effect despite the
provision or provisions of the national scheme law of this
25 jurisdiction with which it is inconsistent and as if the relevant
law, or (in the case of a relevant law that is not an Act) the Act
under which the relevant law was made, had itself provided
expressly for this outcome.
Note: Section 5G of the Corporations Act 2001 of the Commonwealth applies
30 to a provision of a State law that is inconsistent with a provision of the
Corporations legislation to which Part 1.1A of that Act applies if that provision
operated, immediately before the commencement of that Act, despite the
provision of the old Corporations Law or the old ASIC Law that corresponds
to the Commonwealth provision.
page 11
Corporations (Ancillary Provisions) Bill 2001
Part 2 Transitional provisions
s. 8
(2) Any provision of a relevant law of the State that provides that
the whole of a previous State corporations law or a specified
provision of a previous State corporations law does not apply to
a matter is declared by this subsection to also provide that the
5 whole of the old Corporations Law and the old ASIC Law or the
corresponding provision (if any) of the old Corporations Law or
the old ASIC Law (as the case requires) does not apply to that
matter.
Note: Under section 5F(4) of the Corporations Act 2001 of the
10 Commonwealth if the old Corporations Law or the old ASIC law, or a
provision of that Law, did not apply to a matter immediately before the
commencement of that Act, then the Corporations legislation to which
Part 1.1A of that Act applies, or the corresponding provision of that legislation,
does not apply to the matter.
15 (3) Subsection (1) or (2) does not apply to a provision of a relevant
law of the State (or a class of provision of relevant laws of the
State) specified by the regulations as a provision (or class of
provision) to which the subsection does not apply.
(4) For the purposes of subsection (1), a provision of a relevant law
20 of the State is inconsistent with a provision of a national scheme
law of this jurisdiction 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.
25 (5) Nothing in this section affects the operation of section 6 of the
old application Act in relation to an Act enacted before the
commencement of that section or an instrument made under
such an Act.
(6) In this section --
30 "matter" includes act, omission, body, person or thing;
"relevant law of the State" means a law of the State enacted or
made before the relevant time (whether or not it is in force
before that time) other than a national scheme law of this
jurisdiction or a previous State corporations law.
page 12
Corporations (Ancillary Provisions) Bill 2001
Transitional provisions Part 2
s. 9
9. Court proceedings and orders
(1) This section applies to a proceeding, whether criminal or civil,
in relation to which the following paragraphs are satisfied --
(a) the proceeding was started in a court before the relevant
5 time; and
(b) the proceeding was --
(i) under a provision of the old corporations
legislation or the old ASIC legislation; or
(ii) brought as, or connected with, a prosecution for
10 an offence against a provision of the old
corporations legislation or the old ASIC
legislation;
and
(c) the proceeding was not a proceeding to which
15 section 1383 or 1384 of the new Corporations Act or
section 267 or 268 of the new ASIC Act applies; and
(d) the proceeding had not been concluded or terminated
before the relevant time.
(2) Without limiting section 7(1) but subject to subsection (3), a
20 proceeding to which this section applies may be continued, and
any order made by a court in such a proceeding may be
appealed against, reviewed or enforced as if section 6 had not
been enacted.
(3) Nothing in this Part, or in the Acts Interpretation Act 1901 of
25 the Commonwealth as applying by force of section 7(1),
operates to preserve the effect of an order to which
section 1383(5) of the new Corporations Act or section 267(5)
of the new ASIC Act applies and, at the relevant time, that order
ceases to have effect as an order of the court by which it was
30 made and any proceeding in relation to such an order is
terminated by force of this subsection.
page 13
Corporations (Ancillary Provisions) Bill 2001
Part 2 Transitional provisions
s. 10
(4) For the avoidance of doubt, Part 9 of the old application Act
continues to have the same application to a proceeding to which
this section applies as it did before the relevant time.
(5) In this section --
5 "proceeding" includes --
(a) a proceeding by way of appeal against, or otherwise
seeking review of, an order made by a court; and
(b) a proceeding to enforce an order made by a court; and
(c) any other proceeding in respect of a breach of an
10 order made by a court.
10. Existing rules of court continue to have effect
The rules of court made under section 51 of the old application
Act and all other enabling powers, as in force immediately
before the relevant time, continue to have effect (and may be
15 dealt with) at and after the relevant time as if --
(a) they were rules of court in force under section 23; and
(b) they were made for the purposes of the provisions of the
corporations legislation (within the meaning of
section 23) that correspond to the provisions of the old
20 Corporations Law for which they were made.
11. References to old/new corporations legislation or old/new
ASIC legislation
(1) Subject to subsections (2) and (3), a reference in, or taken
immediately before the relevant time to be in, an Act, an
25 instrument made under an Act or a law applying as a law of the
State by force of an Act to --
(a) a Law, Regulations or an instrument of a kind specified
in column 1 of the Table in Schedule 1 is taken, at and
after the relevant time, to include a reference to the Act,
30 Regulations or instrument of the kind specified opposite
it in column 2 of that Table; or
page 14
Corporations (Ancillary Provisions) Bill 2001
Transitional provisions Part 2
s. 11
(b) a provision or group of provisions of a Law, Regulations
or an instrument of a kind specified in column 1 of the
Table in Schedule 1 is taken, at and after the relevant
time, to include a reference to the corresponding
5 provision or provisions (if any) of the Act, Regulations
or instrument of the kind specified opposite it in
column 2 of that Table.
(2) The regulations may do either or both of the following --
(a) provide that subsection (1) does not apply in relation to
10 prescribed references, or references of a prescribed
kind --
(i) in prescribed Acts or instruments made under
Acts; or
(ii) in prescribed laws applying as laws of the State
15 by force of an Act; or
(iii) in Acts, instruments made under Acts, or laws
applying as laws of the State by force of an Act,
of a prescribed kind;
(b) provide that subsection (1) applies in relation to
20 prescribed references, or references of a prescribed
kind --
(i) in prescribed Acts or instruments made under
Acts; or
(ii) in prescribed laws applying as laws of the State
25 by force of an Act; or
(iii) in Acts, instruments made under Acts, or laws
applying as laws of the State by force of an Act,
of a prescribed kind,
as if, in that subsection, the words "to be a reference"
30 were substituted for the words "to include a reference".
page 15
Corporations (Ancillary Provisions) Bill 2001
Part 2 Transitional provisions
s. 11
(3) Subsection (1) does not apply in relation to references in, or
taken immediately before the relevant time to be in --
(a) the old application Act or the applicable provisions (as
defined in that Act) of the State; or
5 (b) a previous State corporations law or an instrument made
under such a law; or
(c) this Act or any regulations made under this Act; or
(d) the Corporations (Consequential Amendments)
Act 2001; or
10 (e) the Interpretation Act 1984; or
(f) any other Act, or any provision of an Act, or any kind of
Act or provision of an Act, specified by the regulations;
or
(g) an instrument made under an Act, or any provision of an
15 instrument made under an Act, or any kind of instrument
made under an Act or provision of such an instrument,
specified by the regulations; or
(h) a law applying as a law of the State by force of an Act,
or any provision of a law applying as a law of the State
20 by force of an Act, or any kind of law applying as a law
of the State by force of an Act or provision of such a
law, specified by the regulations.
(4) For the purposes of this Act, the regulations may provide that a
reference of a specified kind in, or taken immediately before the
25 relevant time to be in, a specified Act or instrument made under
an Act or a specified law applying as a law of the State by force
of an Act is to be taken to be a reference of the kind specified in
relation to the reference in the regulations.
(5) An express reference in an Act, an instrument made under an Act
30 or a law applying as a law of the State by force of an Act to --
(a) an Act, regulations or other instrument forming part of
the new corporations legislation or the new ASIC
legislation; or
page 16
Corporations (Ancillary Provisions) Bill 2001
Transitional provisions Part 2
s. 11
(b) a provision or group of provisions of such an Act,
regulations or other instrument,
is taken, in relation to events, circumstances or things that
happened or arose at a time before the relevant time, to include
5 (unless the contrary intention appears or the context of the
reference otherwise requires) a reference to the corresponding
provision or provisions of the old corporations legislation, or the
old ASIC legislation, as the case requires, of this jurisdiction
and of each other jurisdiction referred to in sections 12(2) and
10 (3) and 64(2) and (3) of the old application Act.
(6) The regulations may do either or both of the following --
(a) provide that subsection (5) does not apply in relation to
prescribed references, or references of a prescribed
kind --
15 (i) in prescribed Acts or instruments made under
Acts; or
(ii) in prescribed laws applying as laws of the State
by force of an Act; or
(iii) in Acts, instruments made under Acts, or laws
20 applying as laws of the State by force of an Act,
of a prescribed kind;
(b) provide that subsection (5) applies in relation to
prescribed references, or references of a prescribed
kind --
25 (i) in prescribed Acts or instruments made under
Acts; or
(ii) in prescribed laws applying as laws of the State
by force of an Act; or
(iii) in Acts, instruments made under Acts, or laws
30 applying as laws of the State by force of an Act,
of a prescribed kind,
as if, in that subsection, the words "of a jurisdiction
specified by the regulations" were substituted for the
page 17
Corporations (Ancillary Provisions) Bill 2001
Part 2 Transitional provisions
s. 12
words "of this jurisdiction and of each other jurisdiction
referred to in sections 12(2) and (3) and 64(2) and (3) of
the old application Act".
12. References to companies incorporated in a State or
5 Territory
(1) Unless the contrary intention appears and subject to
subsections (2) and (4), a reference (however expressed) in, or
taken immediately before the relevant time to be in, an Act, an
instrument made under an Act or a law applying as a law of the
10 State by force of an Act to --
(a) a company (within the meaning of the Corporations Law
of Western Australia or of another State or a Territory)
incorporated in Western Australia or that other State or
that Territory; or
15 (b) a company that is incorporated under the Corporations
Law of Western Australia or of another State or a
Territory; or
(c) a company that is registered or taken to be registered
under the Corporations Law of Western Australia or of
20 another State or a Territory; or
(d) a body that is taken to be registered as a company under
the Corporations Law of Western Australia or of another
State or a Territory,
is taken, after the relevant time, to be a reference to a company
25 that, under section 119A or 1378(4) of the new Corporations
Act, is taken to be registered in Western Australia or that other
State or that Territory, as the case requires.
(2) Unless the contrary intention appears and subject to
subsection (4), a reference (however expressed) in, or taken
30 immediately before the relevant time to be in, an Act, an
instrument made under an Act or a law applying as a law of the
State by force of an Act to a foreign company (within the
meaning of the Corporations Law of Western Australia or of
page 18
Corporations (Ancillary Provisions) Bill 2001
Transitional provisions Part 2
s. 12
another State or a Territory) is taken, after the relevant time, to
be a reference to a foreign company within the meaning of the
new Corporations Act.
(3) Unless the contrary intention appears and subject to
5 subsection (4), a reference (however expressed) in, or taken
immediately before the relevant time to be in, an Act, an
instrument made under an Act or a law applying as a law of the
State by force of an Act to the jurisdiction of incorporation of a
corporation, being a company registered or taken to be
10 registered under the Corporations Law of Western Australia or
of another State or a Territory, is taken, after the relevant time,
to be a reference to the State or Territory in which the
corporation is taken to be registered under section 119A or
1378(4) of the new Corporations Act.
15 (4) The regulations may do either or both of the following --
(a) provide that subsection (1), (2) or (3) does not apply in
relation to prescribed references, or references of a
prescribed kind --
(i) in prescribed Acts or instruments made under
20 Acts; or
(ii) in prescribed laws applying as laws of the State
by force of an Act; or
(iii) in Acts, instruments made under Acts, or laws
applying as laws of the State by force of an Act,
25 of a prescribed kind;
(b) provide that subsection (1), (2) or (3) applies in relation
to prescribed references, or references of a prescribed
kind --
(i) in prescribed Acts or instruments made under
30 Acts; or
(ii) in prescribed laws applying as laws of the State
by force of an Act; or
page 19
Corporations (Ancillary Provisions) Bill 2001
Part 2 Transitional provisions
s. 12
(iii) in Acts, instruments made under Acts, or laws
applying as laws of the State by force of an Act,
of a prescribed kind,
as if, in that subsection, the words "to include a
5 reference" were substituted for the words "to be a
reference".
page 20
Corporations (Ancillary Provisions) Bill 2001
Application of Commonwealth Corporations legislation to State Part 3
matters
s. 13
Part 3 -- Application of Commonwealth Corporations
legislation to State matters
13. Definitions
In this Part --
5 "applied law" means a provision or provisions of the
Corporations legislation, or of an Act, regulations or other
instrument forming part of the Corporations legislation,
that this Part applies to a matter as if the provision or
provisions were a law or laws of the State;
10 "confer" includes impose;
"Corporations legislation" means the Corporations legislation
to which Part 1.1A of the new Corporations Act applies;
"declaratory provision" means a provision of a law of the
State to which this Part applies by operation of section 14;
15 "function" includes a power;
"matter" includes act, omission, body, person or thing;
"modification" includes addition, exception, omission or
substitution;
"perform" includes exercise.
20 14. State provisions to which this Part applies
(1) This Part applies to a provision of a law of the State if the
provision declares a matter to be an applied Corporations
legislation matter for the purposes of this Part in relation to any
of the following (whether with or without modifications) --
25 (a) the whole of the Corporations legislation;
(b) a specified Act, regulations or other instrument forming
part of the Corporations legislation;
(c) a specified provision or provisions of the Corporations
legislation or of an Act, regulations or other instrument
30 forming part of the Corporations legislation.
page 21
Corporations (Ancillary Provisions) Bill 2001
Part 3 Application of Commonwealth Corporations legislation to State
matters
s. 15
(2) Subsection (1) does not apply to a provision of a law of the
State to the extent that it declares a matter to be an applied
Corporations legislation matter for the purposes of this Part in
relation to a provision or provisions of the Corporations
5 legislation, or of an Act, regulations or other instrument forming
part of the Corporations legislation, that already applies to the
matter as a law of the Commonwealth.
15. Effect of declaratory provisions
(1) Subject to this Part, a declaratory provision has effect in relation
10 to a matter as follows --
(a) if the declaratory provision is one to which
section 14(1)(a) applies, the whole of the Corporations
legislation applies to the matter as if it were a law of the
State; and
15 (b) if the declaratory provision is one to which
section 14(1)(b) applies, the Act, regulations or other
instrument specified by the declaratory provision applies
or apply to the matter as if it or they were a law or laws
of the State; and
20 (c) if the declaratory provision is one to which
section 14(1)(c) applies, the provision or provisions
specified by the declaratory provision applies or apply in
relation to the matter as if it or they were a law or laws
of the State.
25 (2) A provision applied to a matter by a declaratory provision, or
taken by force of section 19(1) to apply to the matter, is applied
as in force for the time being unless the declaratory provision
applies it as in force at a particular time specified by the
declaratory provision.
30 16. Modifications to applied law
(1) This Part operates to apply a provision of the Corporations
legislation, or of an Act, regulations or other instrument forming
page 22
Corporations (Ancillary Provisions) Bill 2001
Application of Commonwealth Corporations legislation to State Part 3
matters
s. 16
part of the Corporations legislation, as a law of the State subject
to the following modifications --
(a) such modifications as may be specified by or under the
law containing the declaratory provision;
5 (b) a reference to ASIC is (unless a function under an
applied law is conferred on ASIC as referred to in
section 17) taken to be a reference to --
(i) the Minister administering the declaratory
provision or such other person (or person
10 belonging to a class of person) as may be
specified by the regulations (whether generally
or in relation to a particular applied law); or
(ii) such other person as may be specified by or
under the declaratory provision;
15 (c) a reference to the Gazette is a reference to the
Government Gazette;
(d) a reference to the Minister is a reference to the Minister
administering the declaratory provision;
(e) a reference to this jurisdiction is a reference to Western
20 Australia;
(f) such other modifications as are necessary or that are
prescribed by regulations made under this Act, whether
generally or in relation to a particular applied law.
(2) Any power to make regulations under an Act containing a
25 declaratory provision extends to the making of regulations
specifying modifications for the purposes of this Part.
(3) Except as provided by subsection (1), definitions and other
interpretation provisions of the Corporations legislation, or of
the Act, regulations or other instrument forming part of the
30 Corporations legislation, relevant to the applied law are taken
also to apply to the matter that is the subject of the declaratory
provision.
(4) This section has effect subject to sections 17 to 20.
page 23
Corporations (Ancillary Provisions) Bill 2001
Part 3 Application of Commonwealth Corporations legislation to State
matters
s. 17
17. Conferral of functions on ASIC
(1) Neither a declaratory provision nor an applied law operates to
confer a function on ASIC in relation to the applied law
unless --
5 (a) the declaratory provision provides for ASIC to perform
that function pursuant to an agreement or arrangement
of the kind referred to in section 11(8) or (9A)(b) of the
new ASIC Act; and
(b) ASIC is authorised to perform that function under
10 section 11 of the new ASIC Act.
(2) If a declaratory provision operates to confer a function on ASIC
in relation to an applied law, the conferral of that function is
taken not to impose a duty to perform that function despite
anything to the contrary in the applied law.
15 18. Conferral of functions or duties on State courts
An applied law that confers a function or duty on a court or on
the Court is taken to confer that function or duty (along with the
jurisdiction to perform that function or duty) on the Supreme
Court or such other court of the State as may be specified by or
20 under the declaratory provision.
19. Implied application of regulations and other provisions of
Corporations legislation
(1) Unless a declaratory provision provides otherwise, the
following provisions of the Corporations legislation, or of an
25 Act, regulations or other instrument forming part of the
Corporations legislation, are also taken to apply to a matter that
is the subject of a declaratory provision as if they were laws of
the State --
(a) the provisions of any regulations made under the applied
30 law;
page 24
Corporations (Ancillary Provisions) Bill 2001
Application of Commonwealth Corporations legislation to State Part 3
matters
s. 20
(b) any provision of the Corporations legislation, or of an
Act, regulations or other instrument forming part of the
Corporations legislation, that creates an offence in
relation to a contravention of the applied law or
5 specifies the penalty for an offence created by a
provision of the applied law;
(c) the provisions of Part 9.4B (Civil consequences of
contravening civil penalty provisions) of the new
Corporations Act for the purposes of any provision of
10 the applied law that is a civil penalty provision within
the meaning of that Part.
(2) The regulations may prescribe modifications (whether generally
or in relation to a particular applied law) of any of the
provisions that are also taken to apply to a matter by force of
15 subsection (1) for the purposes of that application.
20. Proceedings for offences
(1) Proceedings for an offence against an applied law may be dealt
with as an offence against a law of the State.
(2) For the purposes of an offence against an applied law --
20 (a) the amount of a penalty unit specified in relation to that
offence by the applied law, or a provision taken by force
of section 19(1) to apply to the matter that is the subject
of the declaratory provision, is $100; and
(b) the laws of the State apply in relation to that offence as
25 if the applied law, or a provision taken by force of
section 19(1) to apply to the matter that is the subject of
the declaratory provision, were a law or laws of the
State.
(3) Without limiting subsection (2)(b), the laws of the State referred
30 to in that subsection as applying in relation to an offence include
laws with respect to --
(a) the investigation and prosecution of offences; and
page 25
Corporations (Ancillary Provisions) Bill 2001
Part 3 Application of Commonwealth Corporations legislation to State
matters
s. 21
(b) the arrest, custody, bail, trial, finding of guilt and
conviction of persons charged with offences; and
(c) proceedings relating to a matter referred to in
paragraph (a) or (b); and
5 (d) the classification of offences as indictable or simple or
indictable triable summarily; and
(e) appeals and reviews relating to criminal proceedings and
to proceedings of the kind referred to in paragraph (c);
and
10 (f) the sentencing, punishment and release of persons found
guilty or convicted of offences; and
(g) fines, penalties and forfeitures; and
(h) confiscation of property.
21. Application of Corporations legislation by other means
15 Nothing in this Part prevents a law of the State from applying
any provision of the Corporations legislation, or of an Act,
regulations or other instrument forming part of the Corporations
legislation, as a law of the State otherwise than by means of a
declaratory provision.
page 26
Corporations (Ancillary Provisions) Bill 2001
General Part 4
s. 22
Part 4 -- General
22. Power to amend certain statutory rules
(1) The Governor, on the recommendation of the Minister, may
make regulations amending a statutory rule made by the
5 Governor in the exercise of a power conferred by any Act.
(2) The Minister may make a recommendation under subsection (1)
only if he or she considers that each amendment proposed to be
made by the regulations is consequential on the enactment, or
the proposed enactment, of --
10 (a) the Corporations (Western Australia) Act 1990;
(b) the Australian Securities and Investments Commission
Act 1989;
(c) the Corporations Act 1989;
(d) an Act amending an Act referred to in paragraph (b) or
15 (c);
(e) the new ASIC Act; or
(f) the new Corporations Act.
(3) Nothing in this section prevents a statutory rule from being
amended otherwise than by regulations made under this section,
20 including an amendment of a kind referred to in subsection (2).
23. Rules of the Supreme Court
(1) The Supreme Court may make rules of court --
(a) with respect to proceedings, and the practice and
procedure, of that Court under the Corporations
25 legislation; and
(b) with respect to any matter or thing that is --
(i) required or permitted by the Corporations
legislation to be prescribed by rules within the
meaning of the Corporations legislation; or
page 27
Corporations (Ancillary Provisions) Bill 2001
Part 4 General
s. 24
(ii) necessary or convenient to be prescribed by such
rules for carrying out or giving effect to the
Corporations legislation;
and
5 (c) without limitation, with respect to costs, and with
respect to rules as to meetings ordered by that Court.
(2) When another court of the State is exercising jurisdiction with
respect to matters arising under the Corporations legislation, the
court must apply the rules of court made under subsection (1),
10 with such alterations as are necessary.
(3) In this section --
"Corporations legislation" means --
(a) the new Corporations Act; and
(b) the new ASIC Act; and
15 (c) the regulations made under the new Corporations Act
and the new ASIC Act.
24. ASIC has certain functions and powers
(1) The Minister, or a person authorised in writing by the Minister,
may enter into an agreement or arrangement with ASIC for the
20 performance of functions or the exercise of powers by ASIC as
an agent of the State, even if those functions or powers are or
may be conferred on another person or body by or under a law
of the State.
(2) An agreement or arrangement of a kind referred to in
25 subsection (1) has effect by force of this section despite any
provision of a law of the State with respect to any function or
power that is the subject of the agreement or arrangement.
Note: Section 11(9) of the Australian Securities and Investments Commission
Act 2001 of the Commonwealth provides that ASIC has, but is not under a
30 duty to perform, the functions and powers that are the subject of the
agreement or arrangement with the State.
page 28
Corporations (Ancillary Provisions) Bill 2001
General Part 4
s. 25
25. Regulations
(1) The Governor 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
5 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.
10 (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
15 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
20 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
25 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
30 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
page 29
Corporations (Ancillary Provisions) Bill 2001
Part 4 General
s. 25
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
5 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
10 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
15 (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
20 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
25 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
30 which the regulations containing the provision are made, not
being a time earlier than immediately before the relevant time.
(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
page 30
Corporations (Ancillary Provisions) Bill 2001
General Part 4
s. 25
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
5 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
10 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
15 application or savings nature.
page 31
Corporations (Ancillary Provisions) Bill 2001
Part 5 Amendment of certain Acts
s. 26
Part 5 -- Amendment of certain Acts
26. Companies (Application of Laws) Act 1981 amended
(1) Section 6 of the Companies (Application of Laws) Act 1981* is
amended by inserting after "Commonwealth Act" --
5 " as in force on 31 December 1990 ".
(2) Section 7 of the Companies (Application of Laws) Act 1981* is
amended by deleting "for the time being" and inserting
instead --
" on 31 December 1990 ".
10 [* Act No. 119 of 1981.
For subsequent amendments see 2000 Index to Legislation of
Western Australia, Table 1, p. 70.]
27. Securities Industry (Application of Laws) Act 1981 amended
(1) Section 6 of the Securities Industry (Application of Laws)
15 Act 1981* is amended by inserting after "Commonwealth
Act" --
" as in force on 31 December 1990 ".
(2) Section 7 of the Securities Industry (Application of Laws)
Act 1981* is amended by deleting "for the time being" and
20 inserting instead --
" on 31 December 1990 ".
[* Act No. 31 of 1981.
For subsequent amendments see 2000 Index to Legislation of
Western Australia, Table 1, p. 404.]
page 32
Corporations (Ancillary Provisions) Bill 2001
Amendment of certain Acts Part 5
s. 28
28. Futures Industry (Application of Laws) Act 1986 amended
(1) Section 5 of the Futures Industry (Application of Laws)
Act 1986* is amended by inserting after "Commonwealth
Act" --
5 " as in force on 31 December 1990 ".
(2) Section 6 of the Futures Industry (Application of Laws)
Act 1986* is amended by deleting "for the time being" and
inserting instead --
" on 31 December 1990 ".
10 [* Act No. 44 of 1986.
For subsequent amendments see 2000 Index to Legislation of
Western Australia, Table 1, p. 173.]
29. Jurisdiction of Courts (Cross-vesting) Act 1987 amended
After section 3 of the Jurisdiction of Courts (Cross-vesting)
15 Act 1987* the following section is inserted --
"
3A. Corporations Act of the Commonwealth
This Act does not apply to the jurisdiction of courts
with which Part 9.6A Division 1 of the Corporations
20 Act 2001 of the Commonwealth deals.
".
[* Act No. 68 of 1987.
For subsequent amendments see 2000 Index to Legislation of
Western Australia, Table 1, p. 225.]
25 30. Corporations (Western Australia) Act 1990 amended
(1) The amendments in this section are to the Corporations
(Western Australia) Act 1990*.
page 33
Corporations (Ancillary Provisions) Bill 2001
Part 5 Amendment of certain Acts
s. 30
(2) Section 7 is amended by deleting "for the time being" and
inserting instead --
" immediately before the repeal of that section ".
(3) Section 8(1) is amended as follows:
5 (a) by deleting "for the time being" and inserting instead --
"
immediately before the repeal of the Corporations Act,
";
(b) by deleting "the Corporations Act" and inserting
10 instead --
" that Act ".
(4) Section 12(2) is amended by deleting "as in force for the time
being".
(5) Section 12(3) is amended by deleting "in force for the time
15 being".
(6) After section 31(4) the following subsection is inserted --
"
(5) A Commonwealth law applying because of section 29
or 30 applies as if it did not contain any provision
20 empowering a Minister of State for the Commonwealth
to give any directions in relation to the performance of
a function or the exercise of a power conferred by
subsection (1) or (2).
".
25 (7) Section 33 is repealed.
(8) After section 37(4) the following subsection is inserted --
"
(5) A Commonwealth law applying because of section 35
or 36 applies as if it did not contain any provision
30 empowering a Minister of State for the Commonwealth
page 34
Corporations (Ancillary Provisions) Bill 2001
Amendment of certain Acts Part 5
s. 30
to give any directions in relation to the performance of
a function or the exercise of a power conferred by
subsection (1) or (2).
".
5 (9) Section 39 is repealed.
(10) Section 58(1) is amended by inserting after "Act" --
" as in force immediately before its repeal ".
(11) Section 59 is amended as follows:
(a) by deleting "for the time being" and inserting instead --
10 " immediately before the repeal of the ASIC Act, ";
(b) by deleting "the ASIC Act" and inserting instead --
" that Act ".
(12) Section 64(3) is amended by deleting "in force for the time
being".
15 (13) Sections 67 and 69 are repealed and section 68(b) is deleted.
(14) Section 85(1) is amended by inserting after "in so far as the
national scheme laws" --
" or the Corporations legislation ".
(15) After section 85(3) the following subsection is inserted --
20 "
(4) In this section --
"Corporations legislation" means the Corporations
legislation to which Part 1.1A of the Corporations
Act 2001 of the Commonwealth applies.
25 ".
page 35
Corporations (Ancillary Provisions) Bill 2001
Part 5 Amendment of certain Acts
s. 30
(16) After section 87(2) the following subsections are inserted --
"
(3) The amendment of the Companies (Application of
Laws) Act 1981 by section 26 of the Corporations
5 (Ancillary Provisions) Act 2001 does not revive, or
otherwise affect the exclusion of, the provisions
referred to in section 18(1) of the Companies
(Application of Laws) Act 1981.
(4) The amendment of the Securities Industry (Application
10 of Laws) Act 1981 by section 27 of the Corporations
(Ancillary Provisions) Act 2001 does not revive, or
otherwise affect the exclusion of, the provisions
referred to in section 16(1) of the Securities Industry
(Application of Laws) Act 1981.
15 ".
(17) After Part 13 Division 6 the following Division is inserted --
"
Division 7 -- Functions of Commonwealth authorities
and officers of the Commonwealth
20 95B. Definitions
In this Division --
"function" includes a power;
"old corporations legislation" has the same meaning
as in the Corporations (Ancillary Provisions)
25 Act 2001;
"perform" includes exercise.
95C. Functions of Commonwealth authorities and
officers of the Commonwealth
If a Commonwealth authority or an officer of the
30 Commonwealth has a function expressed to be
conferred on the authority or officer by or under the old
page 36
Corporations (Ancillary Provisions) Bill 2001
Amendment of certain Acts Part 5
s. 30
corporations legislation, the authority or officer is not
under a duty to perform that function.
".
[* Act No. 105 of 1990.
5 For subsequent amendments see 2000 Index to Legislation of
Western Australia, Table 1, p. 93.]
page 37
Corporations (Ancillary Provisions) Bill 2001
Schedule 1
Schedule 1
[s. 11]
Table
Column 1 Column 2
the Corporations Law of Western the new Corporations Act
Australia
the Corporations Regulations of the new Corporations
Western Australia Regulations
an instrument made under the a corresponding preserved
Corporations Law of Western instrument under the new
Australia or the Corporations corporations legislation
Regulations of Western Australia
the Corporations Law the new Corporations Act
the Corporations Regulations the new Corporations
Regulations
the Corporations Law of a the new Corporations Act
jurisdiction other than Western
Australia that is a referring State
the Corporations Regulations of a the new Corporations
jurisdiction other than Western Regulations
Australia that is a referring State
an instrument made under the a corresponding preserved
Corporations Law, or the instrument under the new
Corporations Regulations, of a corporations legislation
jurisdiction other than Western
Australia that is a referring State
the old ASIC Law Part 3 of the new ASIC Act
except to the extent to which
that Part operates in relation to a
contravention of Part 2 of that
Act
page 38
Corporations (Ancillary Provisions) Bill 2001
Schedule 1
Column 1 Column 2
the ASC Law of Western Part 3 of the new ASIC Act
Australia except to the extent to which
that Part operates in relation to a
contravention of Part 2 of that
Act
the old ASIC Regulations the new ASIC Regulations
made for the purposes of Part 3
of the new ASIC Act except to
the extent to which they operate
in relation to a contravention of
Part 2 of that Act
the ASC Regulations of Western the new ASIC Regulations
Australia made for the purposes of Part 3
of the new ASIC Act except to
the extent to which they operate
in relation to a contravention of
Part 2 of that Act
an instrument made under the old a corresponding preserved
ASIC Law or the old ASIC instrument under the new ASIC
Regulations legislation
an instrument made under the a corresponding preserved
ASC Law of Western Australia or instrument under the new ASIC
the ASC Regulations of Western legislation
Australia
Part 3 of the new ASIC Act
the ASIC Law
except to the extent to which
that Part operates in relation to a
contravention of Part 2 of that
Act
the ASC Law Part 3 of the new ASIC Act
except to the extent to which
that Part operates in relation to a
contravention of Part 2 of that
Act
page 39
Corporations (Ancillary Provisions) Bill 2001
Schedule 1
Column 1 Column 2
the ASIC Regulations the new ASIC Regulations
made for the purposes of Part 3
of the new ASIC Act except to
the extent to which they operate
in relation to a contravention of
Part 2 of that Act
the ASC Regulations the new ASIC Regulations
made for the purposes of Part 3
of the new ASIC Act except to
the extent to which they operate
in relation to a contravention of
Part 2 of that Act
the ASIC Law of a jurisdiction Part 3 of the new ASIC Act
other than Western Australia that except to the extent to which
is a referring State that Part operates in relation to a
contravention of Part 2 of that
Act
the ASC Law of a jurisdiction Part 3 of the new ASIC Act
other than Western Australia that except to the extent to which
is a referring State that Part operates in relation to a
contravention of Part 2 of that
Act
the ASIC Regulations of a the new ASIC Regulations
jurisdiction other than Western made for the purposes of Part 3
Australia that is a referring State of the new ASIC Act except to
the extent to which they operate
in relation to a contravention of
Part 2 of that Act
the ASC Regulations of a the new ASIC Regulations
jurisdiction other than Western made for the purposes of Part 3
Australia that is a referring State of the new ASIC Act except to
the extent to which they operate
in relation to a contravention of
Part 2 of that Act
page 40
Corporations (Ancillary Provisions) Bill 2001
Schedule 1
Column 1 Column 2
an instrument made under the a corresponding preserved
ASIC Law, or the ASIC instrument under the new ASIC
Regulations, of a jurisdiction other legislation
than Western Australia that is a
referring State
an instrument made under the a corresponding preserved
ASC Law, or the ASC instrument under the new ASIC
Regulations, of a jurisdiction other legislation
than Western Australia that is a
referring State
page 41
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