(1) Subject to subsection (4), a reference in the new ASIC legislation
to:
- (a)
- an Act, or to regulations or another instrument that is part of the
new ASIC legislation; or
- (b)
- a provision or group of provisions of such an Act, regulations or other
instrument;
is taken, in relation to events, circumstances or things that happened or
arose at a time before the commencement when the old ASIC legislation was in
force, to include (in the absence of an express provision to the contrary) a
reference to the corresponding part, provision or provisions of the
old ASIC legislation of the Commonwealth, a State in this jurisdiction or the
Northern Territory.
(2) Subject to subsection (4), a reference in the new ASIC legislation
to:
- (a)
- an Act, or to regulations or some other instrument that is part of
the new corporations legislation; or
- (b)
- a provision or group of provisions of such an Act, regulations or other
instrument;
is taken, in relation to events, circumstances or things that happened or
arose at a time before the commencement when the old corporations legislation
was in force, to include (in the absence of an express provision to the
contrary) a reference to the corresponding part, provision or provisions of
the old corporations legislation of the States and Territories in this
jurisdiction.
(3) In subsection (2):
- (a)
- new corporations legislation and old
corporations legislation have the same meanings as they have in Part 10.1
of the Corporations Act; and
- (b)
- the question whether a provision or part of the old corporations
legislation corresponds to a provision of part of the new corporations
legislation is to be determined in the same way as it is determined for the
purposes of Part 10.1 of the Corporations Act.
(4) The regulations may provide that subsection (1) or (2) does not apply
in relation to a particular reference or class of references in the new
ASIC legislation.
Commonwealth Numbered Acts