Co-operatives Act 2009

The regulations may declare a matter relating to co‑operatives or participating co‑operatives to be an applied Corporations legislation matter for the purposes of the Corporations (Ancillary Provisions) Act 2001 Part 3 in relation to any excluded Corporations legislation provision or provisions, with any modifications that are specified in the declaration.

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

provide for ASIC to exercise a function under any excluded Corporations legislation provision that is the subject of the declaration, but only if —

ASIC is to exercise the function under an agreement referred to in section 11(8) or (9A)(b) of the new ASIC Act; and

ASIC is authorised to exercise that function under section 11 of the new ASIC Act;

specify that a reference to ASIC in an excluded Corporations legislation provision that is the subject of the declaration is to be a reference to another person; and

identify an excluded Corporations legislation provision to which the declaration relates by reference to the provision as in force at a particular time; and

specify a court (other than the Supreme Court) to exercise a function conferred on a court or the Court by an excluded Corporations legislation provision to which the declaration relates.

Words and expressions used in this section and also in the Corporations (Ancillary Provisions) Act 2001 Part 3 have the same meanings in this section as they have in that Part.