An incorporated association is declared to be an applied Corporations legislation matter for the purposes of Part 3 of the Corporations (Ancillary Provisions) Act 2001 in relation to Part 3 of the ASIC Act subject to the following modifications:

(a) a reference in Part 3 of the ASIC Act to a body corporate is taken to be a reference to an incorporated association;

(b) a reference in Part 3 of the ASIC Act to ASIC is taken to be a reference to the Commissioner.