References to the new corporations and ASIC legislation
40A References to the new corporations and ASIC legislation
A reference in an Act to:
an Act, or regulations or another instrument, that is part of the new corporations legislation or the new ASIC legislation; or
a provision, or group of provisions, of such an Act, regulations or other instrument;
is taken to include a reference to:
the corresponding part, provision or provisions of the old corporations legislation or the old ASIC legislation; and
any relevant earlier law.
Subsection (1) does not apply to:
a reference in an Act that is part of the new corporations legislation or the new ASIC legislation; or
a reference in the Corporations (Repeals, Consequentials and Transitionals) Act 2001; or
a reference that identifies an Act that is part of the new corporations legislation or the new ASIC legislation as an Act to be amended; or
a reference in a provision that applies an Act that is part of the new corporations legislation or the new ASIC legislation, or a provision or group of provisions, of such an Act to a particular matter (whether with or without modification).
Subsection (1) has effect:
subject to an express provision to the contrary in the Act concerned; and
subject to regulations made for the purposes of subsection (5).
For the purposes of this section:
the question whether a part, provision or provisions of the old corporations legislation corresponds to a part, provision or provisions of the new corporations legislation is to be determined in the same way as it is determined for the purposes of Part 10.1 of the Corporations Act 2001; and
the question whether a part, provision or provisions of the old ASIC legislation corresponds to a part, provision or provisions of the new ASIC legislation is to be determined in the same way as it is determined for the purposes of Part 16 of the Australian Securities and Investments Commission Act 2001.
The regulations may provide that subsection (1) does not apply in relation to a particular reference, or class of references, in an Act.
In this section:
new ASIC legislation has the same meanings as in Part 16 of the Australian Securities and Investments Commission Act 2001.
new corporations legislation has the same meanings as in Part 10.1 of the Corporations Act 2001.
old ASIC legislation has the same meanings as in Part 16 of the Australian Securities and Investments Commission Act 2001.
old corporations legislation has the same meanings as in Part 10.1 of the Corporations Act 2001.
relevant earlier law, in relation to a provision of the old corporations legislation, or the old ASIC legislation, means a law that was:
a corresponding previous law (as defined for the purposes of that provision or provisions that included that provision); or
a relevant previous law (as defined for the purposes of that provision or provisions that included that provision).
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