legislation or the new ASIC legislation generally include references to
corresponding provisions of the old corporations legislation or old ASIC
legislation (1) Subject to subsection (4), a reference in the
new corporations legislation to:
- (a)
- an Act, or regulations or another
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.
(2) Subject to subsection (4), a reference in the new corporations
legislation to:
- (a)
- an Act, or regulations or some other 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 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 ASIC legislation of the Commonwealth, of the States in
this jurisdiction and of the Northern Territory.
(3) In subsection (2):
- (a)
- new ASIC legislation and old ASIC
legislation have the same meanings as they have in Part 16 of the
Australian Securities and Investments Commission Act 2001 ; and
- (b)
- the question whether a provision or part of the old ASIC legislation
corresponds to a provision of part of the new ASIC legislation is to be
determined in the same way as it is determined for the purposes of
Part 16 of the Australian Securities and Investments Commission Act 2001
.
(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
corporations legislation.
Commonwealth Numbered Acts