Applying the Corporations legislation to associations
96 Applying the Corporations legislation to associations
The regulations may declare any matter relating to associations to be an applied Corporations legislation matter for the purposes of Part 3 of the Corporations (Ancillary Provisions) Act 2001 in relation to any excluded Corporations legislation provision or provisions (with such modifications as may be specified in the declaration).
Note.
Part 3 of the Corporations (Ancillary Provisions) Act 2001 provides for the application of provisions of the Corporations Act 2001 of the Commonwealth and Part 3 of the Australian Securities and Investments Commission Act 2001 of the Commonwealth as laws of New South Wales in respect of any matter declared by a law of New South Wales (whether with or without modification) to be an applied Corporations legislation matter for the purposes of that Part in relation to those Commonwealth provisions.
Without limiting subsection (1), any such regulations—
may specify modifications to the definitions and other interpretative provisions of the Corporations legislation relevant to any excluded Corporations legislation provision that is the subject of the declaration, and
may specify that a reference to ASIC in any excluded Corporations legislation provision that is the subject of the declaration is to be read as a reference to another person, and
may identify any excluded Corporations legislation provision to which the declaration relates by reference to that provision as in force at a particular time, and
may specify a New South Wales court (other than the Supreme Court) to exercise any function conferred on a court or the Supreme Court by any excluded Corporations legislation provision to which the declaration relates.
Words and expressions used in this section and also in Part 3 of the Corporations (Ancillary Provisions) Act 2001 have the same meanings as they have in that Part.
In this section, excluded Corporations legislation provision means any provision of the Corporations legislation that does not apply to associations as a law of the Commonwealth.
This provision refers to the regulations (The regulations may declare
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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