Societies excluded from Corporations legislation
4A Societies excluded from Corporations legislation
The following matters are declared to be excluded matters for the purposes of section 5F of the Corporations Act in relation to the whole of the Corporations legislation—
a co-operative housing society;
securities of a co-operative housing society.
Note
This section ensures that neither the Corporations Act nor Part 3 of the ASIC Act will apply in relation to a co‑operative housing society or securities of a co-operative housing society. Section 5F of the Corporations Act provides that if a State law declares a matter to be an excluded matter in relation to the whole of the Corporations legislation, then that legislation will not apply in relation to that matter in the State concerned. However, other provisions of this Act apply certain provisions of the Corporations legislation to co-operative housing societies as laws of this State.
No. 6138 s. 5.
This Act’s bill:Second reading speech
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