Corporations (Tasmania) Act 1990

Corporations (Tasmania) Act 1990

This Act may be cited as the Corporations (Tasmania) Act 1990.

The purposes of this Act are – to apply certain provisions of the Corporations Act 1989 of the Commonwealth and the Australian Securities and Investments Commission Act 1989 of the Commonwealth and of regulations under those Acts as laws of Tasmania; and to apply certain other laws of the Commonwealth as laws of Tasmania for the purpose of the administration and enforcement of the law relating to corporations, the securities industry, the futures industry and some other matters.

This Act commences on a day or days to be proclaimed.

In this Act, unless the contrary intention appears – applicable provision, in relation to a jurisdiction, means a provision of – the Corporations Law, or Corporations Regulations, of that jurisdiction; or the ASIC Law, or ASIC Regulations, of that jurisdiction; or in the case of the Capital Territory – a Commonwealth law as applying, of its own force or because of another Commonwealth law, in relation to – an offence against; or an act, matter or thing arising under or in respect of – a provision that, because of any other application or applications of this definition, is an applicable provision of the Capital Territory or any other jurisdiction; or in the case of a jurisdiction other than the Capital Territory – a Commonwealth law as applying, because of a law of that jurisdiction, in relation to – an offence against; or an act, matter or thing arising under or in respect of – a provision that, because of any other application or applications of this definition, is an applicable provision of that or any other jurisdiction; ASIC Act means the Australian Securities and Investments Commission Act 1989 of the Commonwealth;ASIC Law has the meaning given by Part 11;ASIC Law of Tasmania means the provisions applying by reason of section 58;ASIC Regulations has the meaning given by Part 11;ASIC Regulations of Tasmania means the provisions applying by reason of section 59; authority, in relation to the Commonwealth, has the same meaning as in Part 8 of the Corporations Act;Capital Territory means the Australian Capital Territory and the Jervis Bay Territory;Commission means the Australian Securities and Investments Commission established by the ASIC Act;Commonwealth administrative laws means the following:the Administrative Review Tribunal Act 2024 of the Commonwealth (excluding Part 7); the Freedom of Information Act 1982 of the Commonwealth; the Ombudsman Act 1976 of the Commonwealth; the Privacy Act 1988 of the Commonwealth – and the provisions of the regulations in force for the time being under those Acts;Commonwealth authority means an authority or body (whether incorporated or not) that is established or continued in existence by or under an Act of the Commonwealth;Commonwealth law means any of the written or unwritten laws of the Commonwealth, including laws about the exercise of prerogative powers, rights and privileges, other than the Corporations Law of the Capital Territory, the ASIC Law of the Capital Territory or provisions prescribed, for the purposes of the definition of "Commonwealth law" in section 4 of the Corporations Act, by regulations under section 73 of the Corporations Act;Commonwealth Minister has the meaning given to "the Minister" by section 80A(2) of the Corporations Law; co-operative scheme laws has the meaning given by section 84;Corporations Act means the Corporations Act 1989 of the Commonwealth;Corporations Law has the meaning given by Part 3;Corporations Law of Tasmania means the provisions applying by reason of section 7;Corporations Regulations has the meaning given by Part 3;Corporations Regulations of Tasmania means the provisions applying by reason of section 8; corresponding law means – an Act of a jurisdiction (other than Tasmania) that corresponds to this Act; or regulations made under such an Act; or the Corporations Law, Corporations Regulations, ASIC Law, or ASIC Regulations, or any other applicable provision, of such a jurisdiction; or rules of court made because of such an Act; Federal Court means the Federal Court of Australia;Full Court, in relation to a Supreme Court of a State or Territory, includes any court of the State or Territory to which appeals lie from a single judge of that Supreme Court; jurisdiction means a State or the Capital Territory; law, in relation to the Capital Territory, means a law of, or in force in, the Capital Territory;Minister for this jurisdiction means the Minister; modifications includes additions, omissions and substitutions; national scheme law has the meaning given by section 60; national scheme law of this jurisdiction means – this Act; or the Corporations Law of Tasmania; or the ASIC Law of Tasmania;NCSC means the National Companies and Securities Commission; officer, in relation to the Commonwealth, has the same meaning as in Part 8 of the Corporations Act; officer of the Commonwealth has the same meaning as in section 75(v) of the Constitution of the Commonwealth;State includes the Northern Territory;State Family Court, in relation to a State, means a court of that State to which section 41 of the Family Law Act 1975 of the Commonwealth applies because of a proclamation made under section 41 (2) of that Act;Territory does not include the Northern Territory; this jurisdiction means Tasmania.

In this Act, a reference to a Commonwealth Act includes a reference to – that Commonwealth Act as amended and in force for the time being; and an Act passed in substitution for that Act.

For the purposes of the national scheme laws of this jurisdiction, the Jervis Bay Territory is taken to be part of the Australian Capital Territory.

An Act enacted, or an instrument made under an Act, after the commencement of this section is not to be interpreted as amending or repealing, or otherwise altering the effect or operation of, this Act or the applicable provisions of Tasmania.

Subsection (1) does not affect the interpretation of an Act, or of an instrument made under an Act, so far as that Act provides expressly for that Act or instrument, as the case may be, to have effect despite a specified provision, or despite any provision, of this Act or the applicable provisions of Tasmania.

Except as otherwise provided in this Act, nothing in this Act or the applicable provisions of Tasmania affects the operation after the commencement of this section of an Act enacted before that commencement or of an instrument made under such an Act.

The Corporations Law set out in section 82 of the Corporations Act as in force immediately before the repeal of that section –

applies as a law of Tasmania; and as so applying, may be referred to as the Corporations Law of Tasmania.

The regulations in force, immediately before the repeal of the Corporations Act, under section 22 of that Act – apply as regulations in force for the purposes of the Corporations Law of Tasmania; and as so applying, may be referred to as the Corporations Regulations of Tasmania.

Subject to subsection (3) of this section, where regulations under section 22 of the Corporations Act take effect from a specified day that is earlier than the day when they are notified in the Commonwealth of Australia Gazette under section 48(1) of the Acts Interpretation Act 1901 of the Commonwealth, subsection (1) of this section has effect, and is taken always to have had effect, as if those regulations had taken effect under the Corporations Act from the specified day.

To the extent that a provision of the Corporations Regulations of Tasmania is taken because of a particular application of subsection (2) to have effect, or to have had effect, before the day of notification of the regulations referred to in that subsection, the provision does not operate so as to – affect a private person's rights as at that day so as to disadvantage that person; or impose a liability on a private person in respect of anything done or omitted to be done before that day.

In subsection (3), private person means a person other than – the Commonwealth, a State or the Capital Territory; or an authority of the Commonwealth, of a State or of the Capital Territory.

Subsection (3) does not affect any other operation that the provision has because of subsection (2) or otherwise.

In the Corporations Law, and the Corporations Regulations, of Tasmania –

the Minister for this jurisdiction means the Minister;

this jurisdiction means Tasmania.

Subject to Part 1.2 of the Corporations Law of Tasmania, the Acts Interpretation Act 1901 of the Commonwealth as in force at the commencement of section 8 of the Corporations Act, applies as a law of Tasmania in relation to the Corporations Law, and the Corporations Regulations, of Tasmania and any instrument made, granted or issued under that Law or those Regulations (other than application orders under section 111A of that Law) and so applies as if that Law were an Act of the Commonwealth and those Regulations or instruments were regulations or instruments made under such an Act.

The Acts Interpretation Act 1931 and the Rules Publication Act 1953 do not apply in relation to the Corporations Law, or the Corporations Regulations, of Tasmania or an application order or any other instrument made, granted or issued under that Law or those Regulations.

The Corporations Law of Tasmania may be referred to simply as the Corporations Law.

The Corporations Regulations of Tasmania may be referred to simply as the Corporations Regulations.

This section has effect subject to section 13.