First register of members
31 First register of members
Subitem (2) applies in relation to the register (the ACA members register), in its form immediately before commencement, kept by the public officer of a transitional corporation under section 58 of the old Act so far as it related to the members of the corporation.
The ACA members register is taken to be, at commencement, the transitional corporation's register of members for the purposes of section 180‑1 of the new Act.
The transitional corporation is taken to have set up that register of members at commencement.
At commencement, the date for a member of a transitional corporation for the purposes of paragraph 180‑5(1)(c) of the new Act is the date recorded under paragraph 58(1)(b) of the old Act for the member, immediately before commencement, on the ACA members register.
During a transitional corporation's transitional period, subsection 180‑5(2) of the new Act does not apply in relation to entries for persons who are members of the corporation at commencement.
This Act’s bill:Explanatory memorandumSecond reading speech
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