Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 5I

Regulations may modify operation of the Corporations legislation to deal with interaction between that legislation and State and Territory laws

             (1)  The regulations may modify the operation of the Corporations legislation so that:

                     (a)  provisions of the Corporations legislation do not apply to a matter that is dealt with by a law of a State or Territory specified in the regulations; or

                     (b)  no inconsistency arises between the operation of a provision of the Corporations legislation and the operation of a provision of a State or Territory law specified in the regulations.

             (2)  Without limiting subsection (1), regulations made for the purposes of that subsection may provide that the provision of the Corporations legislation:

                     (a)  does not apply to:

                              (i)  a person specified in the regulations; or

                             (ii)  a body specified in the regulations; or

                            (iii)  circumstances specified in the regulations; or

                            (iv)  a person or body specified in the regulations in the circumstances specified in the regulations; or

                     (b)  does not prohibit an act to the extent to which the prohibition would otherwise give rise to an inconsistency with the State or Territory law; or

                     (c)  does not require a person to do an act to the extent to which the requirement would otherwise give rise to an inconsistency with the State or Territory law; or

                     (d)  does not authorise a person to do an act to the extent to which the conferral of that authority on the person would otherwise give rise to an inconsistency with the State or Territory law; or

                     (e)  does not impose an obligation on a person to the extent to which complying with that obligation would require the person to not comply with an obligation imposed on the person under the State or Territory law; or

                      (f)  authorises a person to do something for the purposes of the Corporations legislation that the person:

                              (i)  is authorised to do under the State or Territory law; and

                             (ii)  would not otherwise be authorised to do under the Corporations legislation; or

                     (g)  will be taken to be satisfied if the State or Territory law is satisfied.

             (3)  In this section:

"matter" includes act, omission, body, person or thing.



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