Commonwealth: Corporations Legislation Amendment Act 1990 (Cth)

Corporations Legislation Amendment Act 1990 No. 110 of 1990 TABLE OF PROVISIONS PART 1—PRELIMINARY Section 1. Short title 2. Commencement PART 2—CONVERTING THE CORPORATIONS ACT 1989 INTO A LAW FOR THE GOVERNMENT OF THE AUSTRALIAN CAPITAL TERRITORY 3. Principal Act 4. What this Part does 5. Title 6. New Parts providing for the Corporations Law to apply in the Australian Capital Territory: PART 1—PRELIMINARY 1. Short title 2. Commencement 3. Object 4. Interpretation PART 2—THE CORPORATIONS LAW, AND THE CORPORATIONS REGULATIONS, OF THE CAPITAL TERRITORY 5. Application in the Capital Territory of the Corporations Law 6. Application of regulations in force under section 22 TABLE OF PROVISIONS—continued Section 7. Interpretation of some expressions in the Corporations Law, and the Corporations Regulations, of the Capital Territory 8. Corporations Law of the Capital Territory taken to be an Act 9. Corporations Law, and Corporations Regulations, of the Capital Territory not to be affected by later Commonwealth laws 10. Relationship between the Corporations Law, and the Corporations Regulations, of the Capital Territory and the laws of the Capital Territory 11. Operation of particular Acts of the Capital Territory PART 3—CITING THE CORPORATIONS LAW AND THE CORPORATIONS REGULATIONS 12. Simpler citation of Corporations Law, and Corporations Regulations, of the Capital Territory 13. References to Corporations Law, and Corporations Regulations, of other jurisdictions 14. References to Corporations Law and Corporations Regulations 15. Saving of citation provisions of other jurisdictions PART 4—APPLICATION OF THE CORPORATIONS LAW TO THE CROWN 16. Interpretation 17. Corporations Law of the Capital Territory 18. Corporations Law of other jurisdictions 19. Crown not liable to prosecution 20. This Part overrides the prerogative PART 5—POWER TO MAKE REGULATIONS FOR THE PURPOSES OF THE CORPORATIONS LAW 21. Interpretation 22. The Corporations Regulations 23. Regulations may provide for application orders to specify matters 24. Scope of particular regulations 25. Power to prescribe fees 26. Aspects of the power to prescribe fees 27. Effect of certain provisions 28. Verifying or certifying documents 29. Documents lodged by an agent 30. Exemptions from Chapter 7 or 8 31. Penalty notices PART 6—ACCOUNTING STANDARDS 32. Accounting standards PART 7—IMPOSITION OF FEES AND TAXES 33. Fees (including taxes) for chargeable matters 34. Contributions and levies for fidelity funds of securities exchanges 35. Levies for National Guarantee Fund 36. Contributions and levies for fidelity funds of futures organisations PART 8—NATIONAL ADMINISTRATION AND ENFORCEMENT OF THE CORPORATIONS LAW Division 1—Preliminary 37. Object 38. Interpretation TABLE OF PROVISIONS—continued Section 39. Effect of Part Division 2—Offences against applicable provisions 40. Object 41. Effect of Division 42. Application of Commonwealth laws in relation to offences against applicable provisions of other jurisdictions 43. Functions and powers under Commonwealth laws as applying because of section 42 44. References in a Commonwealth law to a provision of a Commonwealth law 45. How offences against applicable provisions of other jurisdictions are to be treated Division 3—Performance of functions that corresponding laws of States confer on Commonwealth authorities and officers 46. Ministers 47. Prescribed functions and powers 48. Gazette notices under corresponding laws PART 9—JURISDICTION AND PROCEDURE OF COURTS Division 1—Vesting and cross-vesting of civil jurisdiction 49. Operation of Division 50. Interpretation 51. Jurisdiction of Federal Court and State and Territory Supreme Courts 52. Appeals 53. Transfer of proceedings 54. Conduct of proceedings 55. Courts to act in aid of each other 56. Exercise of jurisdiction pursuant to cross-vesting provisions 57. Rights of appearance 58. Limitation on appeals 59. Enforcement of judgments etc. 60. Rules of the Federal Court 61. Rules of the Supreme Court Division 2—Vesting and cross-vesting of criminal jurisdiction 62. Operation of Division 63. Interpretation 64. Jurisdiction of courts 65. Laws to be applied PART 10—THE NATIONAL GUARANTEE FUND 66. Interpretation 67. Minister to nominate SEGC 68. SEGC's functions and powers under Part 7.10 of the Corporations Law 69. Establishment of National Guarantee Fund PART 11—MISCELLANEOUS 70. National business names register 71. Companies Unclaimed Money Account 72. Companies Liquidation Account 73. Regulations for the purposes of this Act TABLE OF PROVISIONS—continued Section PART 12—TRANSITIONAL 74. Co-operative Scheme Acts 75. National scheme laws of the Capital Territory 76. National scheme laws prevail over Co-operative Scheme Acts 77. Regulations may exclude residual operation of Co-operative Scheme Acts 78. Effect of sections 76 and 77 79. Regulations may modify Co-operative Scheme Acts 80. Updating references to Co-operative Scheme Acts and regulations 81. Saving of provisions about Australian Stock Exchange Limited PART 13—THE CORPORATIONS LAW 82. The Corporations Law 7. The Principal Act becomes part of the Corporations Law PART 3—AMENDMENTS OF THE CORPORATIONS LAW 8. Principal Law 9. Amendments PART 4—AMENDMENTS OF THE AUSTRALIAN SECURITIES COMMISSION ACT 1989 10. Principal Act 11. What this Part does 12. Repeal of section 1 and substitution of new Divisions: Division 1—Objects 1. Objects Division 2—Citation 1a. Short title 1b. Alternative citations of this Act and regulations under section 251 1c. Citation of provisions of this Act, and regulations under section 251, applying as law of another jurisdiction 1d. References to ASC Law and ASC Regulations 1e. Saving of citation provisions of other jurisdictions 13. Repeal of section 3 14. Insertion of new Division heading 15. Further amendments PART 5—AMENDMENTS OF OTHER ACTS 16. Amendments of the Acts Interpretation Act 17. Amendments of the Cash Transaction Reports Act 18. Amendments of the Crown Debts (Priority) Act 19. Amendments of the Taxation Administration Act PART 6—REPEAL OF ACTS 20. Repeals SCHEDULE 1 AMENDMENTS TO ENABLE THE CORPORATIONS LAW TO BE APPLIED AS A LAW OF EACH STATE AND TERRITORY TABLE OF PROVISIONS—continued SCHEDULE 2 AMENDMENTS TO CHANGE "ACT" TO "LAW" SCHEDULE 3 SUBSTANTIVE AMENDMENTS OF THE CORPORATIONS LAW SCHEDULE 4 TECHNICAL AMENDMENTS OF THE CORPORATIONS LAW SCHEDULE 5 AMENDMENTS RELATING TO BUY-BACKS SCHEDULE 6 AMENDMENTS RELATING TO ON-MARKET SHARE BUY-BACKS SCHEDULE 7 AMENDMENTS OF THE AUSTRALIAN SECURITIES COMMISSION ACT 1989 Corporations Legislation Amendment Act 1990 No. 110 of 1990 An Act to amend the Corporations Act 1989 and related legislation [Assented to 18 December 1990] The Parliament of Australia enacts: PART 1—PRELIMINARY Short title 1. This Act may be cited as the Corporations Legislation Amendment Act 1990. Commencement 2. (1) Parts 1 and 2 of this Act commence on the day on which this Act receives the Royal Assent. (2) The remaining provisions of this Act commence on a day or days to be fixed by Proclamation. PART 2—CONVERTING THE CORPORATIONS ACT 1989 INTO A LAW FOR THE GOVERNMENT OF THE AUSTRALIAN CAPITAL TERRITORY Principal Act 3. In this Part, "Principal Act" means the Corporations Act 19891. What this Part does 4. (1) This Part changes the Principal Act from an Act relying on the corporations and other powers, and intended to apply of its own force throughout Australia, into a law for the government of the Australian Capital Territory in relation to corporations, securities, the futures industry and some other matters. (2) Section 6 of this Act inserts in the Principal Act new Parts providing for the Corporations Law set out in new section 82 of the Act to apply as a law for the government of the Territory. (3) Section 7 of this Act then creates that Corporations Law out of the existing interpretation and substantive provisions of the Principal Act. (4) The States (including the Northern Territory) can also apply that Corporations Law as their own law, because the amendments made by this Part are designed to render that Law suitable for application as a uniform law in all States and internal Territories. Title 5. The title of the Principal Act is amended by omitting "enact a national law about" and substituting "make a law for the government of the Australian Capital Territory in relation to". New Parts providing for the Corporations Law to apply in the Australian Capital Territory 6. After the enacting words of the Principal Act the following Parts are inserted: "PART 1—PRELIMINARY Short title "1. This Act may be cited as the Corporations Act 1989. Commencement "2. (1) Subject to this section, the provisions of this Act commence on a day or days to be fixed by Proclamation. "(2) This Part commences on the day on which section 6 of the Corporations Legislation Amendment Act 1990 commences. Object "3. (1) The object of this Act (other than Part 8) is to make a law for the government of the Australian Capital Territory in relation to corporations, securities, the futures industry and some other matters. "(2) This Act has effect, and is to be interpreted, accordingly. "(3) Despite subsection (1) of this section and subsection 8 (1) of this Act, neither this Act nor the Corporations Law of the Australian Capital Territory is, for the purposes of subsection 22 (3) of the Acts Interpretation Act 1901, an Act providing for the administration or government of the Australian Capital Territory. Interpretation "4. (1) In this Act, unless the contrary intention appears: 'applicable provision', in relation to a jurisdiction, means a provision of: (a) the Corporations Law, or Corporations Regulations, of that jurisdiction; or (b) the ASC Law, or ASC Regulations, of that jurisdiction; or (c) in the case of the Capital Territory—a Commonwealth law as applying, of its own force or because of another Commonwealth law, in relation to: (i) an offence against; or (ii) an act, matter or thing arising under or in respect of; a provision that, because of any other application or applications of this definition, is an applicable provision of the Capital Territory or any other jurisdiction; or (d) in the case of a jurisdiction other than the Capital Territory—a Commonwealth law as applying, because of a law of that jurisdiction, in relation to: (i) an offence against; or (ii) an act, matter or thing arising under or in respect of; a provision that, because of any other application or applications of this definition, is an applicable provision of that or any other jurisdiction; 'Capital Territory' means the Australian Capital Territory and the Jervis Bay Territory; 'Commonwealth law' means any of the Acts and unwritten laws of the Commonwealth, other than the Corporations Law of the Capital Territory, the ASC Law of the Capital Territory or provisions prescribed by regulations under section 73; 'jurisdiction' means a State or the Capital Territory; 'modifications' includes additions, omissions and substitutions; 'State' includes the Northern Territory; 'Territory' does not include the Northern Territory. "(2) For the purposes of this Act, the Jervis Bay Territory is taken to be part of the Australian Capital Territory. "PART 2—THE CORPORATIONS LAW, AND THE CORPORATIONS REGULATIONS, OF THE CAPITAL TERRITORY Application in the Capital Territory of the Corporations Law "5. The Corporations Law set out in section 82 as in force for the time being: (a) applies as a law for the government of the Capital Territory; and (b) as so applying, may be referred to as the Corporations Law of the Capital Territory. Application of regulations in force under section 22 "6. (1) The regulations in force for the time being under section 22: (a) apply as regulations in force for the purposes of the Corporations Law of the Capital Territory; and (b) as so applying, may be referred to as the Corporations Regulations of the Capital Territory. "(2) Subject to subsection (3) of this section, where regulations under section 22 are expressed to take effect from a specified day that is earlier than the day when they are notified in the Gazette under subsection 48 (1) of the Acts Interpretation Act 1901, subsection (1) of this section has effect, and is taken always to have had effect, as if those regulations had taken effect from the specified day. "(3) Subsection (2) does not apply in a case where, if those regulations took effect from the specified day: (a) the rights of a person (other than the Commonwealth, a State, the Capital Territory or an authority of the Commonwealth or of a State or the Capital Territory) existing at the day of notification would be affected in a manner prejudicial to that person; or (b) liabilities would be imposed on a person (other than the Commonwealth, a State, the Capital Territory or an authority of the Commonwealth or of a State or the Capital Territory) in respect of anything done or omitted to be done before the day of notification. "(4) A reference in subsection (3) to rights being affected or liabilities being imposed includes a reference to rights being affected, or liabilities being imposed, because of the effect that those regulations would have because of a provision of a law of a jurisdiction other than the Capital Territory that corresponds to this section. "(5) If subsection (3) applies, those regulations take effect from the day of notification. "(6) Since subsections (3), (4) and (5) of this section cover the same ground as subsection 48 (2) of the Acts Interpretation Act 1901, that subsection does not apply in relation to regulations under section 22 of this Act. Interpretation of some expressions in the Corporations Law, and the Corporations Regulations, of the Capital Territory "7. In the Corporations Law, and the Corporations Regulations, of the Capital Territory: 'Act of this jurisdiction' means: (a) in section 919, 942, 1236 or 1351 of that Law—an Act of the Parliament; and (b) in section 111c of that Law—an Act of the Parliament or an Act or Ordinance of the Capital Territory; and (c) otherwise—an Act or Ordinance of the Capital Territory; 'the Minister for this jurisdiction' means the Minister; 'this jurisdiction' means the Capital Territory. Corporations Law of the Capital Territory taken to be an Act "8. (1) Except as provided in this section or as prescribed by regulations under section 73, the Corporations Law of the Capital Territory is taken for all purposes to be an Act. "(2) Part 1.2 of the Corporations Law of the Capital Territory has effect to the exclusion of the Acts Interpretation Act 1901. "(3) Subject to subsection (2), the Acts Interpretation Act 1901 as amended and in force at the commencement of this section applies, and that Act as amended and in force at any later time does not apply, in relation to the Corporations Law of the Capital Territory. "(4) The Acts Interpretation Act 1901 does not apply in relation to an application order under section 111a of that Law. "(5) An application order under section 111a of the Corporations Law of the Capital Territory is not a statutory rule within the meaning of the Statutory Rules Publication Act 1903. Corporations Law, and Corporations Regulations, of the Capital Territory not to be affected by later Commonwealth laws "9. (1) An Act enacted, or an instrument made under an Act, after the commencement of this section is not to be interpreted as amending or repealing, or otherwise altering the effect or operation of, a provision of the Corporations Law, or of the Corporations Regulations, of the Capital Territory. "(2) Subsection (1) does not affect the interpretation of an Act, or of an instrument made under an Act, so far as that Act provides expressly for that Act or instrument, as the case may be, to have effect despite a specified provision, or despite any provision, of the Corporations Law, or of the Corporations Regulations, of the Capital Territory. Relationship between the Corporations Law, and the Corporations Regulations, of the Capital Territory and the laws of the Capital Territory "10. (1) In this section: 'the Law' means the Corporations Law, and the Corporations Regulations, of the Capital Territory. "(2) The object of this section is to avoid or resolve inconsistencies between the Law and the laws of the Capital Territory. "(3) Subject to this section, the Law has effect despite anything in a law of the Capital Territory. "(4) Regulations under section 73: (a) may provide that specified laws of the Capital Territory have effect despite the Law or specified provisions of the Law; and (b) may provide that the Law, or specified provisions of the Law, has or have effect with such modifications as the regulations prescribe. "(5) Regulations that are made under section 73 and take effect within 12 months after the commencement of this section may amend or repeal laws of the Capital Territory. "(6) Regulations in force because of subsection (4) or (5) have effect accordingly. "(7) Nothing in subsection (2) affects the validity of regulations purporting to be made under section 73. Operation of particular Acts of the Capital Territory "11. (1) Section 477 of the Corporations Law of the Capital Territory has effect as provided by section 39 of the Workmen's Compensation Supplementation Fund Act 1980 of that Territory in relation to the liquidator of a corporation that is an insurer within the meaning of that Act. "(2) Division 6 of Part 5.6 of the Corporations Law of the Capital Territory has effect subject to section 40 of the Workmen's Compensation Supplementation Fund Act 1980 of that Territory. "(3) Part 5.7 of the Corporations Law of the Capital Territory does not apply to: (a) a society registered under the Co-operative Societies Act 1939 of that Territory; or (b) a body corporate constituted under the Unit Titles Act 1970 of that Territory. "(4) An Act of the Capital Territory may provide that, where an incorporated association is being wound up under Part 5.7 of the Corporations Law of the Capital Territory, specified provisions of the Act apply, and where such an Act so provides, that Part has effect subject to the specified provisions. "(5) An Act of the Capital Territory may provide that Part 5.7 of the Corporations Law of the Capital Territory applies, subject to the modifications and adaptations prescribed by the Act, in relation to the winding up of an incorporated association, and where such an Act so provides, that Part applies accordingly. "(6) In subsection (4) or (5): 'incorporated association' means an association, society, institution or body incorporated under the Associations Incorporation Act 1953 of the Capital Territory. "(7) The Corporations Law of the Capital Territory has effect subject to sections 23 and 24 of the Trustee Companies Act 1947 of that Territory. "(8) Nothing in this section limits, or is limited by, anything in section 10. "PART 3—CITING THE CORPORATIONS LAW AND THE CORPORATIONS REGULATIONS Simpler citation of Corporations Law, and Corporations Regulations, of the Capital Territory "12. (1) The Corporations Law of the Capital Territory may be referred to simply as the Corporations Law. "(2) The Corporations Regulations of the Capital Territory may be referred to simply as the Corporations Regulations. "(3) This section has effect subject to section 14. References to Corporations Law, and Corporations Regulations, of other jurisdictions "13. (1) This section has effect for the purposes of an Act, a law of the Capital Territory, or an instrument made under an Act or under such a law. "(2) Where a law of a jurisdiction other than the Capital Territory that corresponds to section 5 provides that the Corporations Law set out in section 82 as in force for the time being applies as law of that jurisdiction, the Corporations Law of that jurisdiction is the Corporations Law so set out, applying as law of that jurisdiction. "(3) Where a law of a jurisdiction other than the Capital Territory that corresponds to section 6 provides that the regulations in force for the time being under section 22 apply for the purposes of the Corporations Law of that jurisdiction, the Corporations Regulations of that jurisdiction are those regulations as so applying. References to Corporations Law and Corporations Regulations "14. (1) The object of this section is to help ensure that the Corporations Law of the Capital Territory operates, so far as possible, as if that Law, together with the Corporations Law of each jurisdiction other than the Capital Territory, constituted a single national Corporations Law applying of its own force throughout Australia. "(2) Subject to this section, a reference in an instrument to the Corporations Law, or to the Corporations Regulations, is to be taken, for the purposes of the laws of the Commonwealth and of the laws of the Capital Territory: (a) to be a reference to the Corporations Law, or to the Corporations Regulations, of the Capital Territory; and (b) to include a separate reference to the Corporations Law, or to the Corporations Regulations, of each jurisdiction other than the Capital Territory. "(3) Subsection (2) has effect except so far as the contrary intention appears in the instrument, or the context of the reference otherwise requires. "(4) Without limiting subsection (3), subsection (2) does not apply in relation to a reference expressed as a reference to the Corporations Law, or to the Corporations Regulations, of a jurisdiction. "(5) In this section: 'instrument' means: (a) an Act or an instrument made under an Act; or (b) a law of the Capital Territory or an instrument made under such a law; or (c) an award or other industrial determination or order, or an industrial agreement; or (d) any other order (whether executive, judicial or otherwise); or (e) a notice, certificate or licence; or (f) an agreement; or (g) an application made, information laid, affidavit sworn, or warrant issued, for any purpose; or (h) an indictment, presentment, summons or writ; or (j) any other pleading in, or process issued in connection with, a legal or other proceeding; or (k) any other document whatever. Saving of citation provisions of other jurisdictions "15. Subject to section 14, section 12 is not intended to prevent a law of a jurisdiction other than the Capital Territory from: (a) providing that the Corporations Law, or the Corporations Regulations, of that jurisdiction may be referred to simply as the Corporations Law, or the Corporations Regulations; or (b) providing for how a reference to the Corporations Law, or to the Corporations Regulations, is to be interpreted for the purposes of the laws of that jurisdiction. "PART 4—APPLICATION OF THE CORPORATIONS LAW TO THE CROWN Interpretation "16. To avoid doubt, a reference in this Part to the Crown in a particular right includes a reference to an instrumentality or agency (whether a body corporate or not) of the Crown in that right. Corporations Law of the Capital Territory "17. (1) Chapter 5 (except Part 5.8) of the Corporations Law of the Capital Territory binds the Crown in right of the Commonwealth, of each of the States, of the Capital Territory, of the Northern Territory and of Norfolk Island. "(2) To avoid doubt, Chapter 7 of the Corporations Law of the Capital Territory does not bind the Crown in right of the Commonwealth, of any State, of the Capital Territory, of the Northern Territory or of Norfolk Island. Corporations Law of other jurisdictions "18. Chapter 5 (except Part 5.8) of the Corporations Law of each jurisdiction other than the Capital Territory binds the Crown in right of the Commonwealth, of the Capital Territory and of Norfolk Island. Crown not liable to prosecution "19. Nothing in this Part, or in the Corporations Law, renders the Crown in any right liable to be prosecuted for an offence. This Part overrides the prerogative "20. Where, because of this Part, a provision of a law of a State binds the Crown in right of the Commonwealth, of the Capital Territory or of Norfolk Island, the Crown in that right is subject to that provision despite any prerogative right or privilege. "PART 5—POWER TO MAKE REGULATIONS FOR THE PURPOSES OF THE CORPORATIONS LAW Interpretation "21. (1) In this Part, unless the contrary intention appears: 'prescribed' means prescribed by the regulations; 'the Law' means the Corporations Law of the Capital Territory; 'the regulations' means the regulations made under section 22. "(2) An expression has in this Part the meaning it would have if this Part were in Chapter 9 of the Law. The Corporations Regulations "22. The Governor-General may make regulations, not inconsistent with this Act or the Law, prescribing matters: (a) required or permitted by the Law to be prescribed by regulations within the meaning of the Law; or (b) necessary or convenient to be prescribed by such regulations for carrying out or giving effect to the Law; and, in particular, may make regulations: (c) for or in relation to the keeping of registers by the Commission, the lodging of documents with the Commission, the registration of documents by the Commission, the time and manner of lodging or registration, and the requirements with which documents lodged or to be lodged are to comply; and (d) prescribing forms for the purposes of the Law and the method of verifying any information required by or in those forms; and (e) prescribing the manner in which, the persons by whom, and the directions or requirements in accordance with which, the forms prescribed for the purposes of the Law, or any of them, are required or permitted to be signed, prepared, or completed, and generally regulating the signing, preparation and completion of those forms, or any of them; and (f) for or in relation to the convening of, conduct of, and procedure and voting at, meetings of creditors, meetings of contributories and meetings of holders of debentures, and joint meetings of creditors and members of companies, the number of persons required to constitute a quorum at any such meeting, the sending of notices of meetings to persons entitled to attend at meetings, the lodging of copies of notices of, and of resolutions passed at, meetings, and generally regulating the conduct of, and procedure at, any such meeting; and (g) prescribing the persons by whom, and the circumstances and manner in which, proxies may be appointed and generally regulating the appointment and powers of proxies; and (h) for or in relation to the proving of debts in the winding up of a company, the manner of proving debts and the time within which debts are required or permitted to be proved and generally regulating the proving of debts; and (j) prescribing the manner in which a liquidator appointed by the Court may: (i) exercise powers and perform functions under subsection 478 (1) of the Law; and (ii) exercise any powers conferred, and perform any duties imposed, on the liquidator by regulations made for the purposes of subsection 488 (1) of the Law; and (k) prescribing the manner in which a liquidator in a voluntary winding up may exercise powers and perform functions under section 506 of the Law; and (m) prescribing times for the lodging of any documents; and (n) for or in relation to the publication of advertisements offering the services of dealers or investment advisers or offering securities for purchase or sale, and the form and content of those advertisements; and (p) for or in relation to the publication of advertisements offering the services of futures brokers or futures advisers or offering to deal in futures contracts, and the form and content of those advertisements; and (q) for or in relation to the form of balance-sheets and profit and loss accounts required by the Law to be prepared by dealers or futures brokers; and (r) for or in relation to prohibiting, or regulating the manner and extent of, the offsetting by a futures broker of dealings in futures contracts (as between dealings on the broker's own account and dealings on behalf of a client or as between dealings on behalf of a client and dealings on behalf of another client) and, without limitation, regulating the manner of, or requiring, the making of margin calls in respect of dealings in futures contracts effected by a futures broker; and (s) for or in relation to the furnishing to the Commission of information in addition to, or in variation of, the information contained in a prescribed form lodged with it; and (t) for or in relation to the times within which information required to be furnished to the Commission under the Law shall be so furnished; and (u) for or in relation to the manner in which: (i) orders made under the Law may be served on persons affected by the orders; and (ii) documents that are required or permitted by the Law to be served on a person may be so served; and (w) prescribing penalties not exceeding $1,000 for contraventions of the regulations. Regulations may provide for application orders to specify matters "23. The regulations may require or permit matters to be specified, for the purposes of the regulations, by or in application orders. Scope of particular regulations "24. Except as otherwise expressly provided in this Act or the Law, the regulations may be of general or specially limited application or may differ according to differences in time, locality, place or circumstance. Power to prescribe fees "25. The regulations may prescribe fees (including fees that are taxes) for chargeable matters. Aspects of the power to prescribe fees "26. (1) The regulations may provide for a fee for a chargeable matter to be determined by reference to a prescribed matter or prescribed matters, whether or not the prescribed matter, or any of the prescribed matters, has a direct or indirect connection with the chargeable matter. "(2) A fee prescribed as a stated amount shall not exceed $5,000. "(3) Two or more fees may be prescribed for the same chargeable matter. "(4) In this section: 'fee' includes a fee that is a tax. Effect of certain provisions "27. Neither of section 24 and subsection 26 (1) limits the generality of the other or of section 25. Verifying or certifying documents "28. The regulations may: (a) where documents required by or under the Law to be lodged in accordance with the Law are required to be verified or certified and no manner of verification or certification is prescribed by or under the Law—require that the documents or any of them be verified or certified by statement in writing made by such persons as are prescribed by the regulations; and (b) where no express provision is made in the Law for verification or certification of documents—require that the documents be verified or certified by statement in writing by such persons as are prescribed. Documents lodged by an agent "29. The regulations may provide, in such cases as are prescribed, that, if a document that is required by or under the Law to be lodged is signed or lodged on behalf of a person by an agent duly authorised by writing, there must be: (a) lodged with; or (b) endorsed on; or (c) annexed to; that document, the original, or a verified copy, of the authority. Exemptions from Chapter 7 or 8 "30. The regulations may provide that, subject to any prescribed terms and conditions, Chapter 7 or 8, or specified provisions of Chapter 7 or 8, of the Law: (a) do not have effect in relation to a specified person or class of persons; or (b) have effect in relation to a specified person or class of persons to such extent only as is prescribed; or (c) do not have effect in relation to a specified transaction or class of transactions; or (d) do not have effect in relation to a specified transaction or class of transactions entered into by a specified person or class of persons; and may provide that a contravention of a prescribed term or condition is an offence against the regulations. Penalty notices "31. (1) The regulations: (a) may prescribe offences against the Law (not being offences the penalties applicable to which include a term of imprisonment or a pecuniary penalty that exceeds $1,000), or offences against the regulations, for the purposes of section 1313 of the Law; and (b) must, in relation to each offence that is prescribed under this subsection: (i) prescribe the particulars of that offence that are to be given in a notice served on a person under that section in relation to the offence; and (ii) prescribe the amount of the penalty (being not more than half the amount of the penalty applicable to the offence) that is payable in respect of the offence under a notice served on a person under that section in relation to the offence. "(2) In subsection (1), a reference to a penalty applicable to an offence is a reference to the penalty that is applicable to that offence because of any of the provisions of section 1311 of the Law. "(3) The particulars of an offence required to be prescribed by subparagraph (1) (b) (i) may be prescribed by being set out in the form prescribed for the purposes of section 1313 of the Law in relation to the offence. "PART 6—ACCOUNTING STANDARDS Accounting standards "32. (1) The Australian Accounting Standards Board may make for the purposes of Parts 3.6 and 3.7 of the Corporations Law of the Capital Territory a written accounting standard that is not inconsistent with that Law or the Corporations Regulations of that Territory. "(2) An instrument made under subsection (1) is a disallowable instrument for the purposes of section 46a of the Acts Interpretation Act 1901. "(3) In considering whether or not to make a particular instrument under subsection (1), the Board must have regard to: (a) the effect the instrument would have for the purposes of Parts 3.6 and 3.7 of the Corporations Law of each jurisdiction other than the Capital Territory because of a law of that jurisdiction that corresponds to this Act; and (b) the fact that section 48 of the Acts Interpretation Act 1901 would apply in relation to the instrument because of subsection (2) of this section. "PART 7—IMPOSITION OF FEES AND TAXES Fees (including taxes) for chargeable matters "33. This section imposes the fees (including fees that are taxes) that the Corporations Regulations of the Capital Territory prescribe. Contributions and levies for fidelity funds of securities exchanges "34. (1) This section imposes: (a) the contribution payable under subsection 902 (1) of the Corporations Law of the Capital Territory by a person who wishes to be admitted to membership of a securities exchange, or to a partnership in a member firm recognised by a securities exchange; and (b) the annual contribution payable under subsection 902 (2) of that Law by a member of a securities exchange; and (c) any levy payable under section 904 of that Law by a member of a securities exchange. "(2) An expression has in subsection (1) the meaning it would have if this section were in Part 7.9 of the Corporations Law of the Capital Territory. Levies for National Guarantee Fund "35. This section imposes any levy that is payable under section 938, 940 or 941 of the Corporations Law of the Capital Territory. Contributions and levies for fidelity funds of futures organisations "36. (1) This section imposes: (a) the contribution payable under subsection 1234 (1) of the Corporations Law of the Capital Territory by a person who wishes to be admitted to membership of a futures organisation; and (b) the annual contribution payable under subsection 1234 (2) of that Law by a contributing member of a futures organisation; and (c) any levy payable under section 1235 of that Law by a contributing member of a futures organisation. "(2) An expression has in subsection (1) the meaning it would have if this section were in Part 8.6 of the Corporations Law of the Capital Territory. "PART 8—NATIONAL ADMINISTRATION AND ENFORCEMENT OF THE CORPORATIONS LAW "Division 1—Preliminary Object "37. The object of this Part is to help ensure that: (a) the Corporations Law of the Capital Territory, and the Corporations Law of each jurisdiction other than the Capital Territory, are administered and enforced on a national basis, in the same way as if those Laws constituted a single law of the Commonwealth; and (b) the ASC Law of the Capital Territory, and the ASC Law of each jurisdiction other than the Capital Territory, are administered and enforced on a national basis, in the same way as if those Laws constituted a single law of the Commonwealth. Interpretation "38. In this Part: 'authority', in relation to the Commonwealth, includes: (a) a body corporate, or an unincorporated body, established for a public purpose by or in accordance with an Act; and (b) a court, tribunal or authority established by or in accordance with an Act; for example: (c) the Administrative Appeals Tribunal; and (d) the Australian Federal Police; 'corresponding law' means: (a) an Act of a jurisdiction (other than the Capital Territory) that corresponds to this Act; or (b) regulations made under such an Act; or (c) the Corporations Law, Corporations Regulations, ASC Law, or ASC Regulations, or any other applicable provision, of such a jurisdiction; or (d) rules of court made because of such an Act; 'officer', in relation to the Commonwealth, includes: (a) a Minister; and (b) a person holding: (i) an office established by or under an Act; or (ii) an appointment made under an Act; or (iii) an appointment made by the Governor-General or a Minister but not under an Act; and (c) a person who is a member or officer of an authority of the Commonwealth; and (d) a person who is in the service or employment of the Commonwealth, or of an authority of the Commonwealth, or is employed or engaged under an Act; for example: (e) a member or special member of the Australian Federal Police; and (f) the Director of Public Prosecutions; and (g) the Ombudsman; and (h) the Privacy Commissioner; and (j) a Special Prosecutor. Effect of Part "39. Nothing in this Part limits the generality of anything else in it. "Division 2—Offences against applicable provisions Object "40. The object of this Division is to further the object of this Part by providing for an offence against an applicable provision of another jurisdiction to be treated in the Capital Territory as if it were an offence against a law of the Commonwealth. Effect of Division "41. (1) This Division has effect subject to this Act, the Corporations Law of the Capital Territory and the Australian Securities Commission Act 1989. "(2) The provisions of subsections 42 (2), (3) and (4) and sections 43 and 44, and any other provision of this Act that has effect for the purposes of any of those provisions, extend to each external Territory. Application of Commonwealth laws in relation to offences against applicable provisions of other jurisdictions "42. (1) The Commonwealth laws apply, as laws for the government of the Capital Territory, in relation to an offence against the applicable provisions of another jurisdiction as if those provisions were laws of the Commonwealth. "(2) The Commonwealth laws that extend to an external Territory apply, as laws for the government of that Territory, in relation to an offence against the applicable provisions of a jurisdiction other than the Capital Territory as if those provisions were laws of the Commonwealth. "(3) A Commonwealth law, as applying because of subsection (1) or (2), does not require, prohibit, empower, authorise, or otherwise provide for, the doing of an act outside the Capital Territory, or the external Territory concerned, as the case may be. "(4) The effect that a Commonwealth law has because of subsection (1) or (2) is additional to, and does not prejudice, the effect that the Commonwealth law otherwise has. Functions and powers under Commonwealth laws as applying because of section 42 "43. (1) This section applies to a Commonwealth law that confers on an officer or authority of the Commonwealth a function or power in relation to an offence against an applicable provision of the Capital Territory. "(2) The Commonwealth law, as applying because of subsection 42 (1) or (2), confers on that officer or authority the same function or power in relation to an offence against the corresponding applicable provision of a jurisdiction other than the Capital Territory. "(3) The function or power referred to in subsection (2) may only be performed or exercised in the Capital Territory, or in the external Territory concerned, as the case may be. "(4) In performing the function or power referred to in subsection (2), the officer or authority must act as nearly as practicable as the officer or authority would act in performing or exercising the same function or power in relation to an offence against the corresponding applicable provision of the Capital Territory. References in a Commonwealth law to a provision of a Commonwealth law "44. A reference in a Commonwealth law to a provision of that or another Commonwealth law is taken, for the purposes of the first-mentioned law as applying because of subsection 42 (1) or (2), to be a reference to that provision as applying because of that subsection. How offences against applicable provisions of other jurisdictions are to be treated "45. (1) For the purposes of a law of the Commonwealth or a law of the Capital Territory, an offence against the applicable provisions of a jurisdiction other than the Capital Territory: (a) is taken to be an offence against the laws of the Commonwealth, in the same way as if those provisions were laws of the Commonwealth; and (b) is taken not to be an offence against the laws of that jurisdiction. "(2) Subsection (1) has effect for the purposes of a law: (a) only in so far as it is within the authority of the Parliament to provide in relation to that law as mentioned in paragraph (1) (a); and (b) except as prescribed by regulations under section 73. "(3) Subsection (1) does not have effect for the purposes of this Division or of the Corporations Law, or the ASC Law, of the Capital Territory. "Division 3—Performance of functions that corresponding laws of States confer on Commonwealth authorities and officers Ministers "46. A Minister has such functions and powers as are expressed to be conferred on him or her by or under a corresponding law. Prescribed functions and powers "47. (1) Regulations under section 73 may provide that prescribed authorities and officers of the Commonwealth have prescribed functions and powers that are expressed to be conferred on them by or under corresponding laws. "(2) Regulations under section 73 may provide for and in relation to the doing of acts in the Capital Territory by authorities and officers of the Commonwealth in the performance of functions, and the exercise of powers, that are prescribed because of subsection (1) of this section. "(3) Regulations in force because of this section have effect accordingly. Gazette notices under corresponding laws "48. Where a provision of a corresponding law is expressed to require or permit a document, or a copy of a document, to be published in the Gazette, the document or copy is to be so published in accordance with that provision. "PART 9—JURISDICTION AND PROCEDURE OF COURTS "Division 1—Vesting and cross-vesting of civil jurisdiction Operation of Division "49. (1) This Division provides in relation to: (a) the jurisdiction of courts in respect of matters other than criminal matters (in this Division called 'civil' matters) arising under the Corporations Law of the Capital Territory; and (b) the jurisdiction of the courts of the Capital Territory in respect of civil matters arising under any Corporations Law of a State; and so provides to the exclusion of: (c) the Jurisdiction of Courts (Cross-vesting) Act 1987; and (d) section 39b of the Judiciary Act 1903. "(2) Nothing in this Division affects any other jurisdiction of any court. Interpretation "50. (1) In this Division: 'Full Court', in relation to a Supreme Court of a State, includes any court of the State to which appeals lie from a single judge of that Supreme Court; 'judgment' means a judgment, decree or order, whether final or interlocutory. "(2) In this Division: (a) a reference to the Corporations Law of the Capital Territory includes a reference to: (i) the Corporations Regulations of the Capital Territory; and (ii) the ASC Law of the Capital Territory; and (iii) the ASC Regulations of the Capital Territory; and (iv) any other applicable provisions (as defined in section 4) of the Capital Territory; and (v) this Act; and (vi) regulations made under section 73 of this Act or section 252 of the ASC Law of the Capital Territory; and (vii) rules of court made by the Federal Court because of a provision of this Act, and rules of court applied by the Supreme Court of the Capital Territory, or of a State, when exercising jurisdiction conferred by this Division (including jurisdiction conferred by virtue of any previous application or applications of this subparagraph); and (b) a reference to the Corporations Law of a State is a reference to the Corporations Law of that State within the meaning of the law of that State corresponding to this Division. Jurisdiction of Federal Court and State and Territory Supreme Courts "51. (1) Jurisdiction is conferred on the Federal Court of Australia with respect to civil matters arising under the Corporations Law of the Capital Territory. "(2) Subject to section 9 of the Administrative Decisions (Judicial Review) Act 1977, jurisdiction is conferred on the Supreme Court of each State and the Capital Territory with respect to civil matters arising under the Corporations Law of the Capital Territory. "(3) The jurisdiction conferred on a Supreme Court by subsection (2) is not limited by any limits to which any other jurisdiction of that Supreme Court may be subject. Appeals "52. (1) An appeal may not be instituted from a decision of a single Judge of the Federal Court to the Full Court of the Supreme Court of a State or Territory. "(2) An appeal may not be instituted from a decision of a single Judge of the Supreme Court of a State or the Capital Territory to the Full Court of the Supreme Court of another jurisdiction. "(3) An appeal may not be instituted from a decision of a single Judge of the Supreme Court of a State to the Full Court of the Federal Court. Transfer of proceedings "53. (1) This section applies to a proceeding with respect to a civil matter arising under the Corporations Law of the Capital Territory in a court having jurisdiction under section 51. "(2) Where it appears to the court that, having regard to the interests of justice, it is more appropriate for the proceeding, or an application in the proceeding, to be determined by another court having jurisdiction in the matters for determination in the proceeding or application, the first-mentioned court may transfer the proceeding or application to that other court. "(3) In deciding whether to transfer a proceeding or application under subsection (2), the court must have regard to: (a) the principal place of business of any body corporate concerned in the proceeding or application; and (b) the place or places where the events the subject of the proceeding or application took place. "(4) The court may transfer the proceeding or application: (a) on the application of a party made at any stage; or (b) of the court's own motion. "(5) Where, under subsection (2), a court transfers a proceeding, or an application in a proceeding, to another court: (a) the Registrar or other proper officer of the first-mentioned court must transmit to the Registrar or other proper officer of the other court all documents filed in the first-mentioned court in respect of the proceeding or application, as the case may be; and (b) the other court must proceed as if: (i) the proceeding had been originally instituted in the other court; and (ii) the same proceedings had been taken in the other court as were taken in the first-mentioned court; and (iii) in a case where an application is transferred—the application had been made in the other court. Conduct of proceedings "54. (1) Subject to sections 60 and 61, where it appears to a court that, in determining a matter for determination in a proceeding, the court will, or will be likely to, be exercising relevant jurisdiction, the rules of evidence and procedure to be applied in dealing with that matter are to be such as the court considers appropriate in the circumstances, being rules that are applied in a superior court in Australia or in an external Territory. "(2) Where a proceeding is transferred or removed to a court (in this subsection called the 'transferee court') from another court (in this subsection called the 'transferor court'), the transferee court must deal with the proceeding as if, subject to any order of the transferee court, the steps that had been taken for the purposes of the proceeding in the transferor court (including the making of an order), or similar steps, had been taken in the transferee court. "(3) In this section: 'relevant jurisdiction' means: (a) jurisdiction conferred on the Federal Court of Australia with respect to civil matters arising under the Corporations Law of the Capital Territory; or (b) jurisdiction conferred on the Federal Court of Australia with respect to civil matters arising under the Corporations Law of a State, being jurisdiction that is being exercised by the Federal Court sitting in the Capital Territory; or (c) jurisdiction conferred on the Supreme Court of the Capital Territory with respect to civil matters arising under the Corporations Law of a State; or (d) jurisdiction conferred on the Supreme Court of a State with respect to civil matters arising under the Corporations Law of the Capital Territory. Courts to act in aid of each other "55. All courts having jurisdiction in civil matters arising under the Corporations Law of the Capital Territory, the Judges of those courts and the officers of, or under the control of, those courts must severally act in aid of, and be auxiliary to, each other in all such matters. Exercise of jurisdiction pursuant to cross-vesting provisions "56. (1) Nothing in this or any other Act is intended to override or limit the operation of a provision of a law of a State or Territory relating to cross-vesting of jurisdiction with respect to matters arising under the Corporations Law of the State or Territory. "(2) The Federal Court or the Supreme Court of the Capital Territory may: (a) exercise jurisdiction (whether original or appellate) conferred on that Court by a law of a State corresponding to this Division with respect to matters arising under the Corporations Law of a State; and (b) hear and determine a proceeding transferred to that Court under such a provision. Rights of appearance "57. A person who is entitled to practise as a barrister or a solicitor, or as both a barrister and a solicitor, in a court has, if a proceeding (in this subsection referred to as the 'transferred proceeding') in that court is transferred to another court under this Division or a law of a State that corresponds to this Division, the same entitlements to practise in relation to: (a) the transferred proceeding; and (b) any other proceeding out of which the transferred proceeding arises or to which the transferred proceeding is related, being another proceeding that is to be determined together with the transferred proceeding; in the other court that the person would have if the other court were a federal court exercising federal jurisdiction. Limitation on appeals "58. An appeal does not lie from a decision of a court: (a) in relation to the transfer of a proceeding under this Division; or (b) as to which rules of evidence and procedure are to be applied pursuant to subsection 54 (1). Enforcement of judgments etc. "59. (1) A judgment of the Federal Court or the Supreme Court of the Capital Territory that is given, in whole or in part, in the exercise of jurisdiction conferred by this Division, or by a law of a State that corresponds to this Division, is enforceable in the Capital Territory as if the judgment had been given by that Court entirely in the exercise of the jurisdiction of that Court apart from this Division or any such law. "(2) Where: (a) a provision of a law of the Commonwealth or of the Capital Territory (not being a law in relation to the enforcement of judgments) refers to a thing done by the Federal Court or the Supreme Court of the Capital Territory or of a State; and (b) that thing is done by another court in the exercise of jurisdiction conferred by this Division or a law of a State corresponding to this Division; the reference in that provision to the Federal Court or the Supreme Court of the Capital Territory, as the case may be, is taken as a reference to that other court. Rules of the Federal Court "60. (1) The power to make rules of court conferred by section 59 of the Federal Court of Australia Act 1976 extends to making rules of court, not inconsistent with the Corporations Law of the Capital Territory: (a) with respect to proceedings, and the practice and procedure, of the Federal Court of Australia under that Law; and (b) with respect to any matter or thing that is: (i) required or permitted by that Law to be prescribed by rules within the meaning of that Law; or (ii) necessary or convenient to be prescribed by such rules for carrying out or giving effect to that Law; and (c) without limitation, with respect to costs, and with respect to rules about meetings ordered by the Federal Court of Australia. "(2) When the Federal Court is exercising jurisdiction with respect to matters arising under the Corporations Law of a State, being jurisdiction conferred by a law of a State that corresponds to this Division, that Court must apply the rules of court made under subsection (1), with such alterations as are necessary. "(3) In this section: 'Corporations Law of the Capital Territory' does not include rules of court. Rules of the Supreme Court "61. (1) The Judges of the Supreme Court of the Capital Territory or a majority of them may make rules of court, not inconsistent with the Corporations Law of the Capital Territory: (a) with respect to proceedings, and the practice and procedure, of that court under that Law; and (b) with respect to any matter or thing that is: (i) required or permitted by that Law to be prescribed by rules within the meaning of that Law; or (ii) necessary or convenient to be prescribed by such rules for carrying out or giving effect to that Law; and (c) without limitation, with respect to costs, and with respect to rules as to meetings ordered by that Court. "(2) When the Supreme Court of the Capital Territory is exercising jurisdiction with respect to matters arising under the Corporations Law of a State, being jurisdiction conferred by a law of a State that corresponds to this Division, that Court must apply the rules of court made under subsection (1), with such alterations as are necessary. "(3) When the Supreme Court of a State is exercising jurisdiction with respect to matters arising under the Corporations Law of the Capital Territory, being jurisdiction conferred by this Division, that Court must apply the rules of court made under the law of the State corresponding to subsection (1), with such alterations as are necessary. "(4) In this section: 'Corporations Law of a State' does not include rules of court; 'Corporations Law of the Capital Territory' does not include rules of court. "Division 2—Vesting and cross-vesting of criminal jurisdiction Operation of Division "62. This Division provides in relation to: (a) the jurisdiction of courts in respect of criminal matters arising under the Corporations Law of the Capital Territory; and (b) the jurisdiction of the courts of the Capital Territory in respect of criminal matters arising under the Corporations Law of any jurisdiction; and so provides to the exclusion of sections 68, 70 and 70a of the Judiciary Act 1903. Interpretation "63. (1) In this Division: 'magistrate' means a magistrate who is remunerated by salary or otherwise. "(2) In this Division: (a) a reference to the Corporations Law of the Capital Territory includes a reference to: (i) the Corporations Regulations of the Capital Territory; and (ii) the ASC Law of the Capital Territory; and (iii) the ASC Regulations of the Capital Territory; and (iv) any other applicable provisions (as defined in section 4) of the Capital Territory; and (v) this Act; and (vi) regulations made under section 73 of this Act or section 252 of the ASC Law of the Capital Territory; and (vii) rules of court made by the Federal Court because of a provision of this Act, and rules of court applied by the Supreme Court of the Capital Territory, or of a State, when exercising jurisdiction conferred by this Division (including jurisdiction conferred by virtue of any previous application or applications of this subparagraph); and (b) a reference to the Corporations Law of a State is a reference to the Corporations Law of that State within the meaning of the law of that State corresponding to this Division. Jurisdiction of courts "64. (1) Subject to this section, the several courts of each State and the Capital Territory exercising jurisdiction: (a) with respect to: (i) the summary conviction; or (ii) the examination and commitment for trial on indictment; or (iii) the trial and conviction on indictment; of offenders or persons charged with offences against the laws of the State or Capital Territory; and (b) with respect to the hearing and determination of appeals arising out of any such trial or conviction or out of any connected proceedings; have the equivalent jurisdiction with respect to offenders or persons charged with offences against the Corporations Law of the Capital Territory. "(2) Where a provision of a law of a State corresponding to subsection (1) is expressed to confer jurisdiction with respect to offenders or persons who are charged with offences against the Corporations Law of that State upon a court of the Capital Territory, the court may exercise that jurisdiction. "(3) The jurisdiction conferred by subsection (1) is not to be exercised with respect to the summary conviction, or examination and commitment for trial, of any person except by a magistrate. "(4) The jurisdiction conferred by subsection (1) includes jurisdiction in accordance with provisions of a relevant law of a State or the Capital Territory, and: (a) the reference in paragraph (1) (b) to 'any such trial or conviction' includes a reference to any conviction or sentencing in accordance with the provisions of a relevant law; and (b) unless the contrary intention appears, a reference to jurisdiction conferred by subsection (1) includes a reference to such included jurisdiction. "(5) A person may be dealt with in accordance with a relevant law even if, apart from this section, the offence concerned: (a) would be required to be prosecuted on indictment; or (b) would be required to be prosecuted either summarily or on indictment. "(6) For the purposes of the application of a relevant law as provided by subsection (4): (a) a reference in that law to an indictable offence is taken to include a reference to an offence that may be prosecuted on indictment; and (b) in order to determine the sentence that may be imposed on a person by a court pursuant to the relevant law, the person is taken to have been prosecuted and convicted on indictment in that court. "(7) Subject to subsections (9) and (10), the jurisdiction conferred on a court of a State or the Capital Territory by subsection (1) is conferred despite any limits as to locality of the jurisdiction of that court under the law of that State or of the Capital Territory. "(8) Subject to subsection (9), the jurisdiction conferred on a court of the Capital Territory by a law of a State corresponding to subsection (1) may be exercised despite any limits as to locality of the jurisdiction of that court under the law of the Capital Territory. "(9) Where: (a) jurisdiction is conferred on a court of the Capital Territory in relation to the summary conviction of persons charged with offences against the Corporations Law of this or another jurisdiction by subsection (1) or a corresponding provision of a law of a State; and (b) the court is satisfied that it is appropriate to do so, having regard to all the circumstances including the public interest; the court may decline to exercise that jurisdiction in relation to an offence committed in a State. "(10) The jurisdiction conferred on a court of a State by subsection (1) in relation to: (a) the examination and commitment for trial on indictment; and (b) the trial and conviction on indictment; of offenders or persons charged with offences against the Corporations Law of the Capital Territory is conferred only in relation to: (c) offences committed outside Australia; and (d) offences committed, begun or completed within the State concerned. "(11) In this section: 'Australia' does not include the coastal sea; 'relevant law' means a law providing that where, in proceedings before a court, a person pleads guilty to a charge for which he or she could be prosecuted on indictment, the person may be committed, to a court having jurisdiction to try offences on indictment, to be sentenced or otherwise dealt with without being tried in that last-mentioned court. Laws to be applied "65. (1) Subject to this Division, the laws of the Capital Territory respecting: (a) the arrest and custody in the Territory of offenders or persons charged with offences; and (b) criminal procedure in the Territory in relation to such persons; apply in the Territory, so far as they are applicable, to persons who are charged with offences against the Corporations Law of the Capital Territory or of a State in respect of whom jurisdiction is conferred on a court of the Capital Territory by this Division or a corresponding law of a State. "(2) Subject to this Division, the laws of a State respecting: (a) the arrest and custody in that State of offenders or persons charged with offences; and (b) criminal procedure in that State in relation to such persons; apply in that State, so far as they are applicable, to persons who are charged with offences against the Corporations Law of the Capital Territory in respect of whom jurisdiction is conferred on a court of that State by this Division. "(3) The application of laws by subsections (1) and (2) is