Section 1400(2) of the Corporations Act 2001 (Cth) validly creates criminal liability under Commonwealth law by reference to pre-existing criminal liability under State Corporations Law. The pre-existing liability is used as an historical fact only; the section does not operate retrospectively upon past conduct but upon existing liabilities. The Commonwealth DPP has standing to prosecute offences committed before the commencement of the 2001 Act where s 1400 applies. The temporal limitation in s 4(5) of the State referral legislation limits only the period in which the Commonwealth may legislate, not the period for which it may legislate.
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