Corporations (Ancillary Provisions) Act 2001 (Tas)

Corporations (Ancillary Provisions) Act 2001

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 for other purposes [Royal Assent 29 June 2001]

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

PART 1 - Preliminary

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

2. Commencement This Act commences immediately before the Corporations Act 2001 of the Commonwealth, as originally enacted, commences.

3. Interpretation (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; co-operative scheme law has the meaning given by section 84 of the Corporations (Tasmania) Act 1990 ; corresponds has a meaning affected by section 4 ; 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 meaning as in the Corporations (Tasmania) Act 1990 ; new ASIC Act means the Australian Securities and Investments Commission Act 2001 of the Commonwealth; 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 of "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 of the Commonwealth; 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 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; 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 (Tasmania) 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; old ASIC Law means the ASIC Law of Tasmania (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 Tasmania (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 Tasmania, 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 Tasmania, 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 Companies Act 1962 ; or (b) a co-operative scheme law; or (c) 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 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; statutory rule has the same meaning as in the Subordinate Legislation Act 1992 ; 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 purposes of this Act.