5
CurrentEffect of registration on property yet to be vested in the corporation on its incorporation
5 Effect of registration on property yet to be vested in the corporation on its incorporation
(1)
This item applies if a person was required under subsection 50(2) of the old Act to take some action in relation to a transitional corporation and that action was outstanding immediately before commencement.
(2)
Subsection 42‑30(3) of the new Act applies to the person, on and after commencement, in relation to that outstanding action. This item does not limit section 8 of the Acts Interpretation Act 1901.
This Act’s bill:Explanatory memorandumSecond reading speech
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