Victorian Current Acts Victorian Current Acts(1) An incorporated association is declared to be an excluded matter for the purposes of section 5F of the Corporations Act in relation to the whole of the Corporations legislation other than to the extent referred to in subsection (2).
(2) Subsection (1) does not apply—
(a) if the incorporated association is a company under the Corporations Act—to the extent necessary for an association to be deregistered as a company under that Act;
(b) if the incorporated association is authorised or directed under Part 8 to become registered as a company under that Act—to the extent necessary for an association to be registered as a company under Chapter 5B of that Act;
(c) for the purposes of Division 5 of Part 5.7B of the Corporations Act and in respect of the definition of corporation applying for the purposes of that Division.
Note
This section ensures that neither the Corporations Act nor Part 3 of the ASIC Act will apply in relation to an incorporated association, other than as provided in subsection (2). Section 5F of the Corporations Act provides that if a State law declares a matter to be an excluded matter in relation to the whole of the Corporations legislation other than to a specified extent, then that legislation will not apply, except to the specified extent, in relation to that matter in the State concerned. However, other provisions of this Part apply certain provisions of the Corporations legislation to incorporated associations as laws of this State.
(3) Subsection (1) extends to a company within the meaning of the Corporations Act as soon as it becomes an incorporated association under this Act.
(4) Subsection (1) has effect only for so long as a body is an incorporated association under this Act.
Division 2—Declaration of applied Corporations legislation
Note
Part 3 of the Corporations (Ancillary Provisions) Act 2001 provides for the application of provisions of the Corporations Act and Part 3 of the ASIC Act as laws of the State in respect of any matter declared by a law of the State (whether with or without modification) to be an applied Corporations legislation matter for the purposes of that Part in relation to those Commonwealth provisions.