Corporations (Ancillary Provisions) Act 2001 (Qld)

Corporations (Ancillary Provisions) Act 2001

An Act to enact ancillary provisions relating to the enactment by the Parliament of the Commonwealth of new corporations legislation and new ASIC legislation and for other purposes

Part 1 Preliminary

1 Short title This Act may be cited as the Corporations (Ancillary Provisions) Act 2001.

2 Commencement (1) This Act, other than schedule 3, comes into operation immediately before the Corporations Act 2001 (Cwlth), as originally enacted, comes into operation. (2) Schedule 3 comes into operation when the Corporations Act 2001 (Cwlth), as originally enacted, comes into operation.

3 Purpose The purpose of this Act is 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 Commonwealth Constitution. Note— The Corporations (Commonwealth Powers) Act 2001 refers certain 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.

4 Definitions (1) In this Act— ASIC means the Australian Securities and Investments Commission. carried over provision— (a) of the old corporations 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 corporations legislation; and (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 legislation. cooperative scheme law has the meaning given by the Corporations (Queensland) Act 1990, section 84. corresponds has a meaning affected by section 5. law of the State includes a statutory instrument and any other instrument of a legislative character made under an Act. liability includes duty and obligation. made includes issued, given and published. national scheme law of this jurisdiction has the same meaning as in the Corporations (Queensland) Act 1990, section 3(1). new ASIC Act means the Australian Securities and Investments Commission Act 2001 (Cwlth). new ASIC legislation means— (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 paragraph (a)(ii) and (in relation to the State) paragraph (b)(iii) of the definition old ASIC legislation in section 254(1) of the new ASIC Act, being those laws as they apply after the relevant time; and (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 (Cwlth). new corporations legislation means— (a) the new Corporations Act; and (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 to the State) in paragraph (c) of the definition 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. 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 (Queensland) 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 (Cwlth) as in force from time to time before the relevant time. old ASIC Law means the ASIC Law of Queensland, 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 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 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 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 Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time. old Corporations Law means the Corporations Law of Queensland, within the meaning of the old application Act, as in force from time to time before the 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 (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 (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, and any instruments made under those laws as so applying. old Corporations Regulations means the Corporations Regulations of Queensland, within the meaning of the old application Act, as in force from time to time before the relevant time. order, in relation to a court, includes any judgment, conviction or sentence of the court. 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 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 a provision of the new ASIC legislation. previous State corporations law means— (a) the repealed Companies Act 1961; or (b) the repealed Marketable Securities Act 1970; or (c) the repealed Securities Industry Act 1975; or (d) a cooperative scheme law; or (e) any other Act, or provision of an Act, specified under a regulation under subsection (2). provision of a law includes any portion of the law. referring State has the meaning given by section 4 of the new Corporations Act. relevant time means the time when the new Corporations Act, as originally enacted, comes into operation. right includes interest and status. State includes the Northern Territory. Territory means the Australian Capital Territory or the Jervis Bay Territory. (2) A regulation may provide that a specified Act, or a specified provision of an Act, is a previous State corporations law for the purposes of this Act.