Commonwealth: Corporations (Repeals, Consequentials and Transitionals) Act 2001 (Cth)

Corporations (Repeals, Consequentials and Transitionals) Act 2001 Act No. 55 of 2001 as amended This compilation was prepared on 4 April 2006 [This Act was amended by Act No. 116 of 2003; No. 9 of 2006] Amendments from Act No. 116 of 2003 [Schedule 4 (item 1) amended subsection 2(8) Schedule 4 (item 2) amended item 284 of Schedule 3 Schedule 4 (item 3) amended item 337 of Schedule 3 Schedule 4 (items 1–3) commenced immediately after 15 July 2001] Amendments from Act No. 9 of 2006 [Schedule 2 (item 10) amended heading to item 25 of Schedule 3 Schedule 2 (item 11) repealed item 4 of Schedule 6 Schedule 2 (item 12) repealed item 7 of Schedule 6 Schedule 2 (item 13) repealed item 10 of Schedule 6 Schedule 2 (items 10–13) commenced immediately after 15 July 2001] Prepared by the Office of Legislative Drafting and Publishing, Attorney‑General's Department, Canberra Contents Part 1—Preliminary 1 Short title 2 Commencement Part 2—Repeals and amendments 3 Schedule(s) Part 3—Special transitional arrangements for ACT Division 1—Transitional arrangements for the former Corporations Law and ASIC Law 4 Definitions 5 Corresponding provision 6 Extinguishing rights and liabilities, and terminating proceedings, dealt with by new Corporations legislation 7 Court proceedings and orders Division 2—Transitional arrangements for the former co‑operative scheme legislation 8 Definitions 9 Winding up started before commencement 10 Companies Liquidation Account 11 General Part 4—Functions of Commonwealth agencies in relation to transitional national scheme law matters 12 Definitions 13 Continuing functions of Commonwealth agencies under State and Territory national scheme laws Part 5—Regulations 14 The regulations Schedule 1—Repeals Part 1—The applied laws Australian Securities and Investments Commission Act 1989 Corporations Act 1989 Part 2—The former co‑operative scheme Acts Companies Act 1981 Companies (Acquisition of Shares) Act 1980 Companies (Acquisition of Shares—Fees: Taxation Component) Act 1989 Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 Companies (Fees: Taxation Component) Act 1989 Companies (Transitional Provisions) Act 1981 Futures Industry Act 1986 Futures Industry (Fees: Taxation Component) Act 1989 Securities Industry Act 1980 Securities Industry (Fees: Taxation Component) Act 1989 Schedule 2—Amendment of the new ASIC and corporations legislation on commencement of that legislation Australian Securities and Investments Commission Act 2001 Corporations Act 2001 Schedule 3—Consequential amendments of other Acts Aboriginal and Torres Strait Islander Commission Act 1989 Aboriginal Councils and Associations Act 1976 ACIS Administration Act 1999 Acts Interpretation Act 1901 Administrative Appeals Tribunal Act 1975 Administrative Decisions (Judicial Review) Act 1977 Aerospace Technologies of Australia Limited Sale Act 1994 Agricultural and Veterinary Chemicals Code Act 1994 Air Navigation Act 1920 Airports Act 1996 Airports (Transitional) Act 1996 Air Services Act 1995 A New Tax System (Australian Business Number) Act 1999 A New Tax System (Goods and Services Tax) Act 1999 A New Tax System (Luxury Car Tax) Act 1999 Auditor‑General Act 1997 Australian Hearing Services Act 1991 Australian Industry Development Corporation Act 1970 Australian Land Transport Development Act 1988 Australian Meat and Live‑stock Industry 1997 Australian Postal Corporation Act 1989 Australian Prudential Regulation Authority Act 1998 Australian Sports Drug Agency Act 1990 Banking Act 1959 Bank Integration Act 1991 Bankruptcy Act 1966 Broadcasting Services Act 1992 CFM Sale Act 1996 Charter of the United Nations Act 1945 Cheques Act 1986 Child Support (Registration and Collection) Act 1988 Coal Mining Industry (Long Service Leave Funding) Act 1992 Coal Mining Industry (Long Service Leave) Payroll Levy Collection Act 1992 Commonwealth Authorities and Companies Act 1997 Commonwealth Banks Act 1959 Commonwealth Borrowing Levy Act 1987 Commonwealth Electoral Act 1918 Commonwealth Funds Management Limited Act 1990 Commonwealth Serum Laboratories Act 1961 Commonwealth Superannuation Board Act 2001 Crimes Act 1914 Criminal Code Act 1995 Crown Debts (Priority) Act 1981 Customs Act 1901 Dairy Produce Act 1986 Defence Housing Authority Act 1987 Education Services for Overseas Students Act 2000 Environment Protection and Biodiversity Conservation Act 1999 Equal Opportunity for Women in the Workplace Act 1999 Evidence Act 1995 Excise Act 1901 Export Market Development Grants Act 1997 Federal Airports Corporation Act 1986 Federal Proceedings (Costs) Act 1981 Film Licensed Investment Company Act 1998 Financial Corporations (Transfer of Assets and Liabilities) Act 1993 Financial Corporations Act 1974 Financial Sector (Collection of Data) Act 2001 Financial Sector (Transfers of Business) Act 1999 Financial Transaction Reports Act 1988 Fisheries Management Act 1991 Foreign Evidence Act 1994 Foreign Proceedings (Excess of Jurisdiction) Act 1984 Fringe Benefits Tax Assessment Act 1986 Health Insurance Commission (Reform and Separation of Functions) Act 1997 Hearing Services and AGHS Reform Act 1997 Housing Loans Insurance Corporation (Transfer of Assets and Abolition) Act 1996 Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Industry Research and Development Act 1986 Insurance Act 1973 Insurance (Agents and Brokers) Act 1984 Interactive Gambling Act 2001 International Air Services Commission Act 1992 Judiciary Act 1903 Life Insurance Act 1995 Management and Investment Companies Act 1983 National Environment Protection Measures (Implementation) Act 1998 National Health Act 1953 National Rail Corporation Agreement Act 1992 National Residue Survey (Excise) Levy Act 1998 Norfolk Island Act 1979 Offshore Minerals (Registration Fees) Act 1981 Patents Act 1990 Payment Systems and Netting Act 1998 Pay‑roll Tax (Territories) Assessment Act 1971 Petroleum Resource Rent Tax Assessment Act 1987 Petroleum (Submerged Lands) Act 1967 Petroleum (Submerged Lands) (Registration Fees) Act 1967 Pig Industry Act 1986 Pig Industry Act 2001 Pipeline Authority Act 1973 Pooled Development Funds Act 1992 Primary Industries (Customs) Charges Act 1999 Primary Industries (Excise) Levies Act 1999 Privacy Act 1988 Protection of the Sea (Oil Pollution Compensation Fund) Act 1993 Qantas Sale Act 1992 Reserve Bank Act 1959 Retirement Savings Accounts Act 1997 Safety, Rehabilitation and Compensation Act 1988 Service and Execution of Process Act 1992 Snowy Hydro Corporatisation Act 1997 Snowy Mountains Engineering Corporation Limited Sale Act 1993 Social Security Act 1991 States Grants (Petroleum Products) Act 1965 States Grants (Primary and Secondary Education Assistance) Act 1996 Stevedoring Levy (Collection) Act 1998 Superannuation Act 1990 Superannuation Benefits (Supervisory Mechanisms) Act 1990 Superannuation Guarantee (Administration) Act 1992 Superannuation Industry (Supervision) Act 1993 Sydney Airport Demand Management Act 1997 Taxation Administration Act 1953 Telecommunications Act 1997 Telecommunications (Interception) Act 1979 Telstra Corporation Act 1991 Tobacco Advertising Prohibition Act 1992 Trade Practices Act 1974 Tradex Scheme Act 1999 Veterans' Entitlements Act 1986 Wool International Act 1993 Wool International Privatisation Act 1999 Wool Services Privatisation Act 2000 Workplace Relations Act 1996 Workplace Relations (Registered Organisations) Act 2001 Year 2001 Information Disclosure Act 1999 Schedule 4—Amendments dependent on prior commencement of Administrative Review Tribunal legislation Australian Securities and Investments Commission Act 2001 Corporations Act 2001 Schedule 5—Amendments dependent on later commencement of Administrative Review Tribunal legislation Administrative Review Tribunal (Consequential and Transitional Provisions) Act 2001 Schedule 6—Criminal Code related amendments Corporations Act 2001 An Act to deal with matters consequential on the enactment of the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001, and for related purposes [Assented to 28 June 2001] The Parliament of Australia enacts: Part 1—Preliminary 1 Short title This Act may be cited as the Corporations (Repeals, Consequentials and Transitionals) Act 2001. 2 Commencement (1) Subject to this section, this Act commences, or is taken to have commenced, at the same time as the Corporations Act 2001. (2) Schedules 1 and 2 commence, or are taken to have commenced, at the same time as the Corporations Act 2001. (3) Subject to subsections (4) to (10), Schedule 3 commences, or is taken to have commenced, at the same time as the Corporations Act 2001. (4) Items 65 and 67 of Schedule 3 commence on the later of: (a) the time when the Corporations Act 2001 commences; or (b) the time when Part 1 of Schedule 2 to the Financial Sector (Collection of Data—Consequential and Transitional Provisions) Act 2001 commences. (5) Item 146 of Schedule 3 commences on the later of: (a) the time when the Corporations Act 2001 commences; or (b) the time when section 10 of the Commonwealth Superannuation Board Act 2001 commences. (6) Item 191 of Schedule 3 commences on the later of: (a) the time when the Corporations Act 2001 commences; or (b) the time when Part 5 of the Financial Sector (Collection of Data) Act 2001 commences. (7) Items 296 to 302 of Schedule 3 commence on the later of: (a) the time when the Corporations Act 2001 commences; or (b) the time when Part 1 of the Interactive Gambling Act 2001 commences. (8) Item 438 of Schedule 3 commences at the same time as item 35 of Schedule 1 to the Privacy Amendment (Private Sector) Act 2000 commences. (9) Item 495 of Schedule 3 commences on the later of: (a) the time when the Corporations Act 2001 commences; or (b) the time when item 14 of Schedule 1 to the Superannuation Legislation (Commonwealth Employment) Repeal and Amendment Act 2001 commences. (10) Items 574 and 575 of Schedule 3 commence on the later of: (a) the time when the Corporations Act 2001 commences; or (b) the time when the definitions of debenture and interest in section 45 of the Workplace Relations (Registered Organisations) Act 2001 commence. (11) Subject to subsection (12), Schedule 4 commences, or is taken to have commenced, at the same time as the Corporations Act 2001. (12) If Parts 4 to 10 of the Administrative Review Tribunal Act 2001 have not commenced before the Corporations Act 2001 commences: (a) Schedule 4 to this Act does not commence; and (b) Schedule 5 to this Act commences at the same time as Parts 4 to 10 of the Administrative Review Tribunal Act 2001 commence. (13) If Parts 4 to 10 of the Administrative Review Tribunal Act 2001 have commenced before the Corporations Act 2001 commences, Schedule 5 to this Act does not commence. (14) Schedule 6 commences, or is taken to have commenced, at the same time as the Corporations Act 2001. Part 2—Repeals and amendments 3 Schedule(s) Subject to section 2, each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms. Part 3—Special transitional arrangements for ACT Division 1—Transitional arrangements for the former Corporations Law and ASIC Law 4 Definitions In this Division: ACT means the Australian Capital Territory. ACT ASIC Law has the same meaning as ASIC Law of the Capital Territory had in the Corporations Act 1989 immediately before the relevant time. ACT ASIC Regulations has the same meaning as ASIC Regulations of the Capital Territory had in the Corporations Act 1989 immediately before the relevant time. ACT Corporations Law has the same meaning as Corporations Law of the Capital Territory had in the Corporations Act 1989 immediately before the relevant time. ACT Corporations Regulations has the same meaning as Corporations Regulations of the Capital Territory had in the Corporations Act 1989 immediately before the relevant time. ASIC means the Australian Securities and Investments Commission. carried over provision: (a) of the old ACT corporations legislation—means a provision of that legislation that: (i) was in force immediately before the relevant time; and (ii) corresponds to a provision of the new corporations legislation; and (b) of the old ACT ASIC legislation—means a provision of that legislation that: (i) was in force immediately before the relevant time; and (ii) corresponds to a provision of the new ASIC legislation. corresponds has a meaning affected by section 5. liability includes a duty or obligation. made includes issued, given or published. new ASIC Act means the Australian Securities and Investments Commission Act 2001. new ASIC legislation means: (a) the new ASIC Act; and (b) the new ASIC Regulations (as amended and in force from time to time) and any other regulations made under the new ASIC Act; and (c) the laws of the Commonwealth referred to in subparagraph (a)(ii) and (in relation to the ACT) subparagraph (b)(iii) of the definition of old ASIC legislation in subsection 254(1) of the new ASIC Act, being those laws as they apply after the relevant time; and (d) the preserved instruments. new ASIC Regulations means the old ASIC Regulations that, because of section 264 of the new ASIC Act, have effect as if they were made under section 251 of that Act. new Corporations Act means the Corporations Act 2001. new Corporations legislation means: (a) the new Corporations Act; and (b) the new Corporations Regulations (as amended and in force from time to time) and any other regulations made under the new Corporations Act; and (c) the laws of the Commonwealth referred to (in relation to the ACT) in paragraph (c) of the definition of old corporations legislation in subsection 1371(1) of the new Corporations Act, being those laws as they apply after the relevant time; and (d) the preserved instruments. new Corporations Regulations means the old Corporations Regulations that, because of section 1380 of the new Corporations Act, have effect as if they were made under section 1364 of that Act. old ACT ASIC Law means the ACT ASIC Law as in force from time to time before the relevant time. old ACT ASIC legislation means: (a) the old ACT ASIC Law and the old ACT ASIC Regulations, and any instruments made under that Law or those Regulations; and (b) the Corporations Act 1989, and any instruments made under that Act, as applying in relation to the old ACT ASIC Law and the old ACT ASIC Regulations from time to time before the relevant time; and (c) the laws of the Commonwealth as applying in relation to the old ACT ASIC Law and the old ACT ASIC Regulations from time to time before the relevant time as laws of, or for the government of, the ACT because of Part 8 of the Corporations Act 1989, and any instruments made under those laws as so applying. old ACT ASIC Regulations means the ACT ASIC Regulations as in force from time to time before the relevant time. old ACT Corporations Law means the ACT Corporations Law as in force from time to time before the relevant time. old ACT corporations legislation means: (a) the old ACT Corporations Law and the old ACT Corporations Regulations, and any instruments made under that Law or those Regulations; and (b) the Corporations Act 1989, and any instruments made under that Act , as applying in relation to the old ACT Corporations Law and the old ACT Corporations Regulations from time to time before the relevant time; and (c) the laws of the Commonwealth as applying in relation to the old ACT Corporations Law and the old ACT Corporations Regulations from time to time before the relevant time as laws of, or for the government of, the ACT because of Part 8 of the Corporations Act 1989, and any instruments made under those laws as so applying. old ACT Corporations Regulations means the ACT Corporations Regulations as in force from time to time before the relevant time. order, in relation to a court, includes any judgment, conviction or sentence of the court. pre‑commencement right or liability means a right or liability, whether civil or criminal, other than a right or liability under an order made by a court before the relevant time or a liability referred to in subsection 1397(4) of the new Corporations Act, that: (a) was acquired, accrued or incurred under: (i) a carried over provision of the old ACT corporations legislation or the old ACT ASIC legislation; or (ii) a provision of the old ACT corporations legislation or the old ACT ASIC legislation that was no longer in force immediately before the relevant time; and (b) was in existence immediately before the relevant time. preserved instrument means: (a) in relation to the new corporations legislation—an instrument that, because of section 1399 of the new Corporations Act, has effect after the relevant time as if it were made under a provision of the new corporations legislation; and (b) in relation to the new ASIC legislation—an instrument that, because of section 275 of the new ASIC Act, has effect after the relevant time as if it were made under a provision of the new ASIC legislation; and provision of a law includes any portion of the law. relevant time means the time when the new Corporations Act, as originally enacted, commences. right includes an interest or status. 5 Corresponding provision (1) For the purposes of this Act, a provision (the old provision) of the old ACT corporations legislation or the old ACT ASIC legislation corresponds to a provision (the new provision) of the new corporations legislation or the new ASIC legislation (and vice versa) if: (a) the old provision and the new provision are substantially the same, unless the regulations specify that the 2 provisions do not correspond; or (b) the regulations specify that the 2 provisions correspond. (2) For the purposes of paragraph (1)(a), differences of all or any of the following kinds are not sufficient to mean that 2 provisions are not substantially the same: (a) differences in the numbering of the provisions; (b) differences of a minor technical nature (for example, differences in punctuation, or differences that are attributable to the correction of incorrect cross references); (c) the fact that one of the provisions refers to a corresponding previous law and the other does not; (d) the fact that: (i) the old provision allowed a court to exercise powers on its own motion but the new provision does not; or (ii) the old provision required a court to apply a criterion of public interest but the new provision requires a court to apply a criterion of justice and equity; or (iii) the new provision requires ASIC to take account of public interest but the old provision did not; (e) other differences that are attributable to the fact that the new corporations legislation and the new ASIC legislation apply as Commonwealth laws in the States and the internal Territories; (f) other differences of a kind prescribed by the regulations for the purposes of this paragraph. (3) Subsection (2) is not intended to otherwise limit the circumstances in which 2 provisions are, for the purposes of paragraph (1)(a), substantially the same. (4) The regulations may provide that: (a) a specified provision of the old ACT corporations legislation does, or does not, correspond to a specified provision of the new corporations legislation; or (b) a specified provision of the old ACT ASIC legislation does, or does not, correspond to a specified provision of the new ASIC legislation. 6 Extinguishing rights and liabilities, and terminating proceedings, dealt with by new Corporations legislation (1) If, by force of: (a) Chapter 10 of the new Corporations Act; or (b) Part 16 of the new ASIC Act; a person acquires, accrues or incurs a right or liability in substitution for a pre‑commencement right or liability, the pre‑commencement right or liability is cancelled at the relevant time. (2) A proceeding in a court that: (a) was started before the relevant time; and (b) was: (i) under a provision of the old ACT corporations legislation or the old ACT ASIC legislation; or (ii) brought as, or connected with, a prosecution for an offence against a provision of the old ACT corporations legislation or the old ACT ASIC legislation; and (c) was a proceeding to which section 1383 of the new Corporations Act or section 267 of the new ASIC Act applies; and (d) had not been concluded or terminated before the relevant time; is terminated at the relevant time by force of this subsection. (3) If, by force of a Commonwealth Act (other than the new Corporations Act) referred to in sections 1393 to 1396 of the new Corporations Act, a person becomes liable to pay an amount that is the same as, and is in respect of the same matter as, an amount (the pre‑commencement amount) that was payable by the person before the relevant time under a provision of the old ACT corporations legislation, the person's liability to pay the pre‑commencement amount is cancelled at the relevant time. (4) This section has effect despite anything in the Acts Interpretation Act 1901. 7 Court proceedings and orders (1) This section applies to a proceeding, whether criminal or civil, in relation to which all of the following paragraphs are satisfied: (a) the proceeding was started in a court before the relevant time; (b) the proceeding was: (i) under a provision of the old ACT corporations legislation or the old ACT ASIC legislation; or (ii) brought as, or connected with, a prosecution for an offence against a provision of the old ACT corporations legislation or the old ACT ASIC legislation; (c) the proceeding was not a proceeding to which section 1383 or 1384 of the new Corporations Act, or section 267 or 268 of the new ASIC Act, applies; (d) the proceeding had not been concluded or terminated before the relevant time. (2) Subject to subsection (3), a proceeding to which this section applies may be continued, and any order made by a court in such a proceeding may be appealed against, reviewed or enforced as if: (a) the Corporations Act 1989 and the Australian Securities and Investments Commission Act 1989 had not been repealed; and (b) the new corporations legislation and the new ASIC legislation had not come into operation. (3) Nothing in this Act, or in the Acts Interpretation Act 1901, operates to preserve the effect of an order to which subsection 1383(5) of the new Corporations Act, or subsection 267(5) of the new ASIC Act, applies and, at the relevant time, that order ceases to have effect as an order of the court by which it was made and any proceeding in relation to any such order is terminated by force of this subsection. (4) For the avoidance of doubt, Part 9 of the Corporations Act 1989 (which deals with the jurisdiction and procedure of courts) continues to have the same application to a proceeding to which this section applies as it did before the relevant time. (5) In this section: proceeding includes: (a) a proceeding by way of appeal against, or otherwise seeking review of, an order made by a court; and (b) a proceeding to enforce an order made by a court; and (c) any other proceeding in respect of a breach of an order made by a court. Division 2—Transitional arrangements for the former co‑operative scheme legislation 8 Definitions In this Division: ACT means the Australian Capital Territory. Corporations Act commencement means the commencement of the Corporations Act 2001. Corporations Law commencement means 1 January 1991. Note: This is the day on which Chapter 5 of the Corporations Law commenced. 9 Winding up started before commencement (1) The provisions of the Corporations Act 2001 with respect to winding up do not apply to any body corporate whose winding up was started before the Corporations Law commencement. (2) If a body corporate's winding up started before the Corporations Law commencement under a law in force in the ACT: (a) the body corporate is to be wound up in the same manner, and with the same incidents, as if the Companies Act 1981 had not been repealed and the Corporations Act 1989 had not been enacted; and (b) for the purposes of the winding up, the Companies Act 1981 applies, with such modifications as the circumstances require, as if a reference in that Act to the NCSC were, except in relation to a time before that commencement, a reference to the Australian Securities and Investments Commission. 10 Companies Liquidation Account (1) In this section: relevant money means: (a) money that, immediately before the Corporations Law commencement, stood to the credit of the Companies Liquidation Account established by section 428 of the Companies Act 1981; and (b) money that, after the Corporations Law commencement, was or is paid into the Companies Liquidation Account under provisions of the Companies Act 1981 that were taken to continue in force after the Corporations Law commencement for the purposes of windings up started before that commencement. (2) Relevant money is to be dealt with in accordance with section 427 of the Companies Act 1981. 11 General (1) If, immediately before the Corporations Act commencement, an Act repealed by Part 2 of Schedule 1 to this Act applied in the ACT to a matter, that Act: (a) continues to apply to that matter after that commencement despite its repeal; and (b) if that Act applied to that matter immediately before that commencement with particular modifications—it continues to apply to the matter with the same modifications. (2) For the purposes of subsection (1), if a company was dissolved before the Corporations Law commencement, the Companies Act 1981 is taken to have applied to the dissolution immediately before the Corporations Act commencement. Part 4—Functions of Commonwealth agencies in relation to transitional national scheme law matters 12 Definitions (1) 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. non‑federal proceeding means: (a) a proceeding in relation to which: (i) paragraphs 1383(1)(a), (b) and (d) of the Corporations Act 2001 are satisfied but paragraph 1383(1)(e) of that Act is not satisfied; or (ii) paragraphs 267(1)(a), (b) and (d) of the Australian Securities and Investments Commission Act are satisfied but paragraph 267(1)(e) of that Act is not satisfied; or (b) an enforcement proceeding, or an appeal or review proceeding, in relation to an order of a court made before the commencement in relation to a proceeding that was: (i) under a provision of the old corporations legislation of a State or Territory in this jurisdiction; or (ii) brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation of a State or Territory in this jurisdiction; or (iii) under a provision of the old ASIC legislation of the Commonwealth, a State in this jurisdiction or the Northern Territory; or (iv) brought as, or connected with, a prosecution for an offence against a provision of the old ASIC legislation of the Commonwealth, a State in this jurisdiction or the Northern Territory; or (c) an enforcement proceeding, or an appeal or review proceeding, in relation to an order of a court made after the commencement in relation to a proceeding referred to in paragraph (a). 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 (i) a Special Prosecutor. old ASIC legislation has the same meaning as in section 254 of the Australian Securities and Investments Commission Act 2001. old corporations legislation has the same meaning as in section 1371 of the Corporations Act 2001. transitional national scheme function or power means a function or power in relation to a non‑federal proceeding that is expressed to be conferred by or under a law of a State or Territory in this jurisdiction. Note: Commonwealth authorities and officers may have such functions or powers under the State and Territory legislation dealing with the transition from the applied Corporations Law regime to the Corporations Act 2001. 13 Continuing functions of Commonwealth agencies under State and Territory national scheme laws (1) Commonwealth authorities and officers: (a) have the transitional national scheme functions and powers; and (b) have the functions and powers conferred on them by virtue of the operation of Part 3 of this Act (special transitional arrangements for the ACT). (2) A Commonwealth authority or officer: (a) is not subject to any directions in relation to the performance or exercise of a transitional national scheme function or power; and (b) is not under a duty to perform or exercise a transitional national scheme function or power. (3) Subsection (2) does not apply to the Australian Securities and Investments Commission. Note: Subsection 271(2) of the Australian Securities and Investments Commission Act 2001 deals with the performance and exercise of transitional national scheme functions by ASIC. Part 5—Regulations 14 The regulations (1) The Governor‑General may make regulations prescribing matters: (a) required or permitted by this Act to be prescribed; or (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act. (2) Without limiting subsection (1), the regulations may provide that certain provisions of Part 3 are taken to be modified as set out in the regulations. Those provisions then have effect as if they were so modified. Schedule 1—Repeals Part 1—The applied laws Australian Securities and Investments Commission Act 1989 1 The whole of the Act Repeal the Act. Corporations Act 1989 2 The whole of the Act Repeal the Act. Part 2—The former co‑operative scheme Acts Companies Act 1981 3 The whole of the Act Repeal the Act. Companies (Acquisition of Shares) Act 1980 4 The whole of the Act Repeal the Act. Companies (Acquisition of Shares—Fees: Taxation Component) Act 1989 5 The whole of the Act Repeal the Act. Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 6 The whole of the Act Repeal the Act. Companies (Fees: Taxation Component) Act 1989 7 The whole of the Act Repeal the Act. Companies (Transitional Provisions) Act 1981 8 The whole of the Act Repeal the Act. Futures Industry Act 1986 9 The whole of the Act Repeal the Act. Futures Industry (Fees: Taxation Component) Act 1989 10 The whole of the Act Repeal the Act. Securities Industry Act 1980 11 The whole of the Act Repeal the Act. Securities Industry (Fees: Taxation Component) Act 1989 12 The whole of the Act Repeal the Act. Schedule 2—Amendment of the new ASIC and corporations legislation on commencement of that legislation Australian Securities and Investments Commission Act 2001 1 Section 122 Repeal the section, substitute: 122 Staff seconded to ASIC In addition to the other staff members, officers and employees of Agencies (within the meaning of the Public Service Act 1999), and of authorities of the Commonwealth, whose services are made available to ASIC in connection with the performance or exercise of any of its functions or powers are to assist ASIC. 2 Subsection 254(1) Insert: old corporations legislation has the meaning given by subsection 1371(1) of the Corporations Act 2001. 3 Subsection 255(4) Repeal the subsection, substitute: (4) In this section: State validation Act means an Act of a State in this jurisdiction under which certain administrative actions (within the meaning of that Act) taken, or purportedly taken, at or before the commencement by Commonwealth authorities or officers of the Commonwealth (within the meaning of that Act) pursuant to functions or powers (the relevant functions or powers) conferred, or purportedly conferred, by or under laws that include the old application Act for that State have, and are deemed always to have had, the same force and effect for all purposes as they would have had if: (a) they had been taken, or purportedly taken by a State authority or officer of the State (within the meaning of that Act); and (b) the relevant functions or powers had been duly conferred on those authorities or officers. 4 Subsection 266(1) (after paragraph (c) of the definition of federal ASIC proceeding) Insert: (ca) a proceeding in relation to a matter to which a provision of the old ASIC legislation of the Commonwealth, a State in this jurisdiction or the Northern Territory applied: (i) in which the Commonwealth was seeking an injunction or a declaration; or (ii) to which the Commonwealth, or a person suing or being sued on behalf of the Commonwealth, was a party; (cb) any other proceeding in relation to a matter to which a provision of the old ASIC legislation of a State in this jurisdiction applied that was in the exercise of federal jurisdiction; (cc) any other proceeding in relation to a matter to which a provision of the old ASIC legislation of the Northern Territory applied that would be covered by paragraph (cb) if the Northern Territory had been a State; (cd) any other proceeding under the old ASIC legislation of the Commonwealth that was in the exercise of federal jurisdiction; 5 After section 268 Insert: 268A Appeals etc. in relation to some former federal corporations proceedings (1) This section applies to a proceeding in relation to which all of the following paragraphs are satisfied: (a) the proceeding was started in a court before the commencement; (b) the proceeding was a federal ASIC proceeding that related to matter to which a provision of the old ASIC legislation of the Commonwealth, a State in this jurisdiction or the Northern Territory applied; (c) the proceeding had been concluded or terminated before the commencement. (2) A decision or order made in the proceeding may be appealed against, or otherwise reviewed, as if it had been made in a proceeding that related to a matter to which a provision of this Act applied. (3) An order made in the proceeding may be enforced as if it had been made in a proceeding that related to a matter to which a provision of this Act applied. 268B Effect of decisions and orders made in federal corporations proceedings before commencement (1) For the avoidance of doubt, if: (a) a proceeding was started in a court before the commencement; and (b) the proceeding was a federal ASIC proceeding that related to matter to which a provision of the old ASIC legislation of the Commonwealth, a State in this jurisdiction or the Northern Territory applied; and (c) a decision was made or an order given in the proceeding before the commencement; the decision or order continues to have effect after the commencement despite the provision of the old ASIC legislation ceasing to have effect. (2) This section does not limit the operation of section 268 in relation to the decision or order. 6 Subsection 271(4) (after paragraph (a) of the definition of non‑federal proceeding) Insert: (aa) a proceeding in relation to which paragraphs 1383(1)(a), (b) and (d) of the Corporations Act 2001 are satisfied but paragraph 1383(1)(e) of that Act is not satisfied; 7 Subsection 271(4) (after subparagraph (b)(i) of the definition of non‑federal proceeding) Insert: (ia) under a provision of the old corporations legislation of a State or Territory in this jurisdiction; or 8 Subsection 271(4) (at the end of paragraph (b) of the definition of non‑federal proceeding) Add: (iii) brought as, or connected with, a prosecution for an offence against a provision of the old corporations legislation of a State or Territory in this jurisdiction; or 9 Subsection 271(4) (paragraph (c) of the definition of non‑federal proceeding) After "paragraph (a)", insert "or (aa)". 10 Subsection 272(1) Omit "that is a relevant Act for the purposes of the Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980", substitute "that was a relevant Act for the purposes of the Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 as in force immediately before the commencement". 11 Subsection 272(2) Omit "that is a relevant Act for the purposes of the Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980", substitute "that was a relevant Act for the purposes of the Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 as in force immediately before the commencement". Corporations Act 2001 12 Subsection 9(1) (definition of person) Repeal the definition, substitute: person, when used in Division 2 of Part 2D.2 (sections 200A to 200J), includes a superannuation fund. 13 At the end of Part 7.1A Add: Division 3—Functions and powers 766J The Exchange's functions and powers (1) In addition to the legal capacity and powers it has because of section 124, the Exchange has such functions and powers as are conferred, or expressed to be conferred, on it by this Act. (2) Section 125 does not apply in relation to a function or power conferred, or expressed to be conferred, as mentioned in subsection (1) of this section. (3) The Exchange is to perform the functions, and may exercise the powers, that are conferred on it by or under this Act. 14 Subsection 1372(4) Repeal the subsection, substitute: (4) In this section: State validation Act means an Act of a State in this jurisdiction under which certain administrative actions (within the meaning of that Act) taken, or purportedly taken, at or before the commencement by Commonwealth authorities or officers of the Commonwealth (within the meaning of that Act) pursuant to functions or powers (the relevant functions or powers) conferred, or purportedly conferred, by or under laws that include the old application Act for that State have, and are deemed always to have had, the same force and effect for all purposes as they would have had if: (a) they had been taken, or purportedly taken by a State authority or officer of the State (within the meaning of that Act); and (b) the relevant functions or powers had been duly conferred on those authorities or officers. 15 Subsection 1382(1) (after paragraph (b) of the definition of federal corporations proceeding) Insert: (ba) a proceeding that relates to a matter to which a provision of the Corporations Act 1989 applied (other than a proceeding that relates to a matter to which a provision of the Corporations Law of the Australian Capital Territory applied); (bb) a proceeding in relation to a matter to which a provision of the old corporations legislation of a State or Territory in this jurisdiction applied: (i) in which the Commonwealth was seeking an injunction or a declaration; or (ii) to which the Commonwealth, or a person suing or being sued on behalf of the Commonwealth, was a party; (bc) any other proceeding in relation to a matter to which a provision of the old corporations legislation of a State in this jurisdiction applied that was in the exercise of federal jurisdiction; (bd) any other proceeding in relation to a matter to which a provision of the old corporations legislation of a Territory in this jurisdiction applied that would be covered by paragraph (bc) if the Territory had been a State; 16 After section 1384 Insert: 1384A Appeals etc. in relation to some former federal corporations proceedings (1) This section applies to a proceeding in relation to which all of the following paragraphs are satisfied: (a) the proceeding was started in a court before the commencement; (b) the proceeding was a federal corporations proceeding that related to a matter to which a provision of the old corporations legislation of a State or Territory in this jurisdiction applied; and (c) the proceeding had been concluded or terminated before the commencement. (2) A decision or order made in the proceeding may be appealed against, or otherwise reviewed, as if it had been made in a proceeding that related to a matter to which a provision of this Act applied. (3) An order made in the proceeding may be enforced as if it had been made in a proceeding that related to a matter to which a provision of this Act applied. 1384B Effect of decisions and orders made in federal corporations proceedings before commencement (1) For the avoidance of doubt, if: (a) a proceeding was started in a court before the commencement; and (b) the proceeding was a federal corporations proceeding that related to a matter to which a provision of the old corporations legislation of a State or Territory in this jurisdiction applied; and (c) a decision was made or an order given in the proceeding before the commencement; the decision or order continues to have effect after the commencement despite the provision of the old corporations legislation ceasing to have effect. (2) This section does not limit the operation of section 1384 in relation to the decision or order. Schedule 3—Consequential amendments of other Acts Aboriginal and Torres Strait Islander Commission Act 1989 1 Subsection 4(2) Omit "Companies Act 1981", substitute "Corporations Act 2001". Aboriginal Councils and Associations Act 1976 2 Section 3 (paragraph (b) of the definition of unauthorised name) Omit "Corporations Law", substitute "Corporations Act 2001". 3 Section 62 Omit "Corporations Law", substitute "Corporations Act 2001". Note: The heading to section 62 is altered by omitting "Companies" and substituting "Corporations". 4 Section 67 Omit "Corporations Law", substitute "Corporations Act 2001". Note: The heading to section 67 is altered by omitting "Companies" and substituting "Corporations". 5 Section 81A Repeal the section, substitute: 81A Aboriginal corporation not registrable Australian body An Aboriginal corporation is not a registrable Australian body for the purposes of the Corporations Act 2001. ACIS Administration Act 1999 6 Subsection 21(1) Omit "Corporations Law", substitute "Corporations Act 2001". 7 Paragraph 29(2)(d) Omit "Corporations Law", substitute "Corporations Act 2001". 8 Paragraph 29(2)(e) Omit "that Law", substitute "that Act". Acts Interpretation Act 1901 9 Section 40A Repeal the section, substitute: 40A References to the new corporations and ASIC legislation (1) A reference in an Act to: (a) an Act, or regulations or another instrument, that is part of the new corporations legislation or the new ASIC legislation; or (b) a provision, or group of provisions, of such an Act, regulations or other instrument; is taken to include a reference to: (c) the corresponding part, provision or provisions of the old corporations legislation or the old ASIC legislation; and (d) any relevant earlier law. (2) Subsection (1) does not apply to: (a) a reference in an Act that is part of the new corporations legislation or the new ASIC legislation; or (b) a reference in the Corporations (Repeals, Consequentials and Transitionals) Act 2001; or (c) a reference that identifies an Act that is part of the new corporations legislation or the new ASIC legislation as an Act to be amended; or (d) a reference in a provision that applies an Act that is part of the new corporations legislation or the new ASIC legislation, or a provision or group of provisions, of such an Act to a particular matter (whether with or without modification). (3) Subsection (1) has effect: (a) subject to an express provision to the contrary in the Act concerned; and (b) subject to regulations made for the purposes of subsection (5). (4) For the purposes of this section: (a) the question whether a part, provision or provisions of the old corporations legislation corresponds to a part, provision or provisions 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 2001; and (b) the question whether a part, provision or provisions of the old ASIC legislation corresponds to a part, provision or provisions 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. (5) The regulations may provide that subsection (1) does not apply in relation to a particular reference, or class of references, in an Act. (6) In this section: new ASIC legislation has the same meanings as in Part 16 of the Australian Securities and Investments Commission Act 2001. new corporations legislation has the same meanings as in Part 10.1 of the Corporations Act 2001. old ASIC legislation has the same meanings as in Part 16 of the Australian Securities and Investments Commission Act 2001. old corporations legislation has the same meanings as in Part 10.1 of the Corporations Act 2001. relevant earlier law, in relation to a provision of the old corporations legislation, or the old ASIC legislation, means a law that was: (a) a corresponding previous law (as defined for the purposes of that provision or provisions that included that provision); or (b) a relevant previous law (as defined for the purposes of that provision or provisions that included that provision). 10 At the end of the Act Add: 51 Regulations The Governor‑General may make regulations prescribing matters: (a) required or permitted by this Act to be prescribed; or (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act. Administrative Appeals Tribunal Act 1975 11 Paragraph 27A(2)(d) Repeal the paragraph, substitute: (d) a decision under the Corporations Act 2001 to which section 1317B of that Act applies; 12 Paragraph 27A(2)(e) Repeal the paragraph, substitute: (e) a decision under the Australian Securities and Investments Commission Act 2001 to which section 244 of that Act applies. Administrative Decisions (Judicial Review) Act 1977 13 Subsection 3(8A) Omit "Corporations Law", substitute "Corporations Act 2001". 14 Section 9 (note) Omit "51(2A) of the Corporations Act 1989" (wherever occurring), substitute "1337B(3) of the Corporations Act 2001". 15 Paragraph 2(c) of Schedule 3 Repeal the paragraph. Aerospace Technologies of Australia Limited Sale Act 1994 16 Section 3 (definition of voting share) Omit "Corporations Law", substitute "Corporations Act 2001". 17 Section 4 Omit "Corporations Law", substitute "Corporations Act 2001". Agricultural and Veterinary Chemicals Code Act 1994 18 Subsection 69(5) Omit "Corporations Law", substitute "Corporations Act 2001". Air Navigation Act 1920 19 Subsection 11A(3) Omit "Corporations Law", substitute "Corporations Act 2001". 20 Subsection 11A(3) Omit "that Law", substitute "that Act". 21 Subsection 11A(4) (definition of voting share) Omit "Corporations Law", substitute "Corporations Act 2001". Airports Act 1996 22 Section 5 (paragraph (b) of the definition of qualified company) Omit "Corporations Law of a State or internal Territory", substitute "Corporations Act 2001". 23 Subsection 141(7) Omit "32 of the Corporations Act 1989" (wherever occurring), substitute "334 of the Corporations Act 2001". 24 Section 144 Omit "Corporations Law of a State or an internal Territory", substitute "Corporations Act 2001". 25 Paragraph 14(1)(e) of the Schedule Omit "Corporations Law of a State or internal Territory", substitute "Corporations Act 2001". Airports (Transitional) Act 1996 26 Section 4 (definition of voting share) Omit "Corporations Law", substitute "Corporations Act 2001". Air Services Act 1995 27 Subsection 3(3) Omit "Corporations Law", substitute "Corporations Act 2001". A New Tax System (Australian Business Number) Act 1999 28 Subsection 8(2) Omit "Corporations Law", substitute "Corporations Act". 29 Section 41 (definition of Corporations Law Company) Repeal the definition. 30 Section 41 Insert: Corporations Act company means a body registered as a company under the Corporations Act 2001. A New Tax System (Goods and Services Tax) Act 1999 31 Section 195‑1 (paragraph (a) of the definition of futures exchange) Omit "Corporations Law", substitute "Corporations Act 2001". 32 Section 195‑1 (paragraph (a) of the definition of futures exchange) Omit "that Law", substitute "that Act". 33 Section 195‑1 (definition of officer) Omit "Corporations Law", substitute "Corporations Act 2001". 34 Section 195‑1 (paragraph (d) of the definition of representative) Omit "Corporations Law", substitute "Corporations Act 2001". A New Tax System (Luxury Car Tax) Act 1999 35 Section 27‑1 (definition of officer) Omit "Corporations Law", substitute "Corporations Act 2001". Auditor‑General Act 1997 36 Section 5 (definition of Auditor‑General function) Omit "Corporations Law of a State or Territory", substitute "Corporations Act 2001". 37 Section 5 (definition of Corporations Law) Repeal the definition. 38 Section 5 (definition of subsidiary) Omit "Corporations Law", substitute "Corporations Act 2001". 39 Subsection 21(1) Omit "Corporations Law of a State or Territory", substitute "Corporations Act 2001". Note: The heading to section 21 is altered by omitting "Law" and substituting "Act". 40 Paragraph 26(1)(b) Omit "Corporations Law of a State or Territory", substitute "Corporations Act 2001". Australian Hearing Services Act 1991 41 Subsection 4(2) Omit "Corporations Law", substitute "Corporations Act 2001". Australian Industry Development Corporation Act 1970 42 Section 33B (definition of voting share) Omit "Corporations Law", substitute "Corporations Act 2001". 43 Subsection 33F(2) Omit "Corporations Law", substitute "Corporations Act 2001". 44 Subsection 33K(7) Omit "Corporations Law", substitute "Corporations Act 2001". 45 Paragraph 34C(7)(a) Omit "Corporations Law", substitute "Corporations Act 2001". 46 Paragraphs 34D(1)(b) and (c) Omit "Corporations Law", substitute "Corporations Act 2001". 47 Subsections 34D(2) and (3) Omit "Corporations Law" (wherever occurring), substitute "Corporations Act 2001". 48 Paragraph 34E(5)(a) Omit "Corporations Law", substitute "Corporations Act 2001". 49 Paragraph 34G(1)(a) Omit "Corporations Law", substitute "Corporations Act 2001". 50 Subsection 34G(2) (definition of listing rules) Omit "Corporations Law", substitute "Corporations Act 2001". 51 Subsection 34G(2) (definition of securities exchange) Omit "Corporations Law", substitute "Corporations Act 2001". 52 Subsection 34G(3) Omit "Corporations Law" (wherever occurring), substitute "Corporations Act 2001". 53 Section 36A Omit "Corporations Law", substitute "Corporations Act 2001". Australian Land Transport Development Act 1988 54 Subparagraph 15(3)(c)(i) Omit "Corporations Law of a State or of an internal Territory", substitute "Corporations Act 2001". 55 Subsection 28A(3) Omit "Corporations Law of a State or of an internal Territory", substitute "Corporations Act 2001". 56 Subsection 28A(3) Omit "that Corporations Law", substitute "that Act". Australian Meat and Live‑stock Industry 1997 57 Subsection 8(4) Omit "Corporations Law", substitute "Corporations Act 2001". 58 Subsection 8(5) (definition of corporation) Omit "Corporations Law", substitute "Corporations Act 2001". 59 Paragraphs 60(4)(a) and 60(5)(a) Omit "Corporations Law", substitute "Corporations Act 2001". 60 Paragraph 61(2)(a) Omit "Corporations Law", substitute "Corporations Act 2001". 61 Section 72 Omit "Corporations Law", substitute "Corporations Act 2001". Australian Postal Corporation Act 1989 62 Section 6 Omit "Corporations Law", substitute "Corporations Act 2001". Australian Prudential Regulation Authority Act 1998 63 Section 3 (definition of ASIC staff member) Omit "Australian Securities and Investments Commission Act 1989", substitute "Australian Securities and Investments Commission Act 2001". 64 Subsection 56(1) (paragraph (b) of the definition of protected document) Omit "Corporations Law", substitute "Corporations Act 2001". 65 Subsection 56(1) (paragraph (cb) of the definition of protected document) Omit "Corporations Law", substitute "Corporations Act 2001". 66 Subsection 56(1) (paragraph (b) of the definition of protected information) Omit "Corporations Law" (wherever occurring), substitute "Corporations Act 2001". 67 Subsection 56(1) (paragraph (cb) of the definition of protected information) Omit "Corporations Law", substitute "Corporations Act 2001". Australian Sports Drug Agency Act 1990 68 Subsections 10A(3), (5) and (6) Omit "Corporations Law", substitute "Corporations Act 2001". Banking Act 1959 69 Subsection 5(2) Omit "Corporations Law", substitute "Corporations Act 2001". 70 Subsection 11CA(6) Omit "Corporations Law", substitute "Corporations Act 2001". 71 Subsection 11CG(3) Omit "Corporations Law", substitute "Corporations Act 2001". 72 Paragraph 13C(1)(b) Omit "Corporations Law", substitute "Corporations Act 2001". 73 Subsection 14C(4) Omit "Corporations Law of a State or internal Territory", substitute "Corporations Act 2001". Note: The heading to subsection 14C(4) is altered by omitting "Law" and substituting "Act 2001". 74 Subsection 14F(2) Omit "Corporations Law of a State or internal Territory", substitute "Corporations Act 2001". 75 Subsection 15(4) Omit "Corporations Law", substitute "Corporations Act 2001". 76 Subsection 15A(5) Omit "Corporations Law", substitute "Corporations Act 2001". 77 Paragraph 63(5)(aa) Omit "Australian Securities and Investments Commission Act 1989", substitute "Australian Securities and Investments Commission Act 2001". 78 Section 70B Omit "Corporations Law of a State or internal Territory", substitute "Corporations Act 2001". Note: The heading to section 70B is altered by omitting "Law" and substituting "Act". Bank Integration Act 1991 79 Subsection 25(2) Omit "Corporations Law", substitute "Corporations Act 2001". Bankruptcy Act 1966 80 Subsection 5(1) (paragraph (ba) of the definition of company officer) Omit "Corporations Law", substitute "Corporations Act 2001". 81 Subsection 5(1) (paragraph (bb) of the definition of company officer) Omit "that Law", substitute "that Act". 82 Subsection 5(1) (paragraph (a) of the definition of private company) Omit "Corporations Law", substitute "Corporations Act 2001". 83 Subparagraph 5G(c)(ia) Omit "Corporations Law", substitute "Corporations Act 2001". 84 Paragraph 5G(c) Omit "that Law" (wherever occurring), substitute "that Act". 85 Subsection 82(3AA) Omit "paragraph 1317EA(3)(b) of the Corporations Law of a State or Territory", substitute "section 1317G of the Corporations Act 2001". 86 Paragraph 149D(1)(b) Repeal the paragraph, substitute: (b) after the date of the bankruptcy, the bankrupt contravened section 206A of the Corporations Act 2001 (disqualification from managing corporations); 87 Subsection 149ZD(1) Repeal the subsection, substitute: (1) A bankrupt is disqualified from discharge if, after the date of the bankruptcy, the bankrupt contravened section 206A of the Corporations Act 2001 (disqualification from managing corporations). Broadcasting Services Act 1992 88 Section 103B (definition of registered auditor) Omit "Corporations Law", substitute "Corporations Act 2001". 89 Section 121B (definition of related body corporate) Omit "Corporations Law", substitute "Corporations Act 2001". 90 Subsection 143(3) (definition of related body corporate) Omit "Corporations Law", substitute "Corporations Act 2001". 91 Section 146B (definition of related body corporate) Omit "Corporations Law", substitute "Corporations Act 2001". 92 Subsection 212A(4) (definition of related body corporate) Omit "Corporations Law", substitute "Corporations Act 2001". 93 Subclause 2(1) of Schedule 6 (definition of related body corporate) Omit "Corporations Law", substitute "Corporations Act 2001". CFM Sale Act 1996 94 Subsection 3(1) (definition of voting share) Omit "Corporations Law", substitute "Corporations Act 2001". 95 Subsections 3(2) and (3) Omit "Corporations Law", substitute "Corporations Act 2001". Charter of the United Nations Act 1945 96 Paragraph 9(e) Repeal the paragraph, substitute: (e) any provision of the Corporations Act 2001 or the Australian Securities and Investments Commission Act 2001, or of regulations made under those Acts; or Cheques Act 1986 97 Paragraph 70A(2)(a) Omit "Corporations Law" (wherever occurring), substitute "Corporations Act 2001". Child Support (Registration and Collection) Act 1988 98 Subsection 4(1) (paragraph (ea) of the definition of trustee) Omit "Corporations Law", substitute "Corporations Act 2001". 99 Subsection 4(1) (paragraph (eb) of the definition of trustee) Omit "that Law", substitute "that Act". Coal Mining Industry (Long Service Leave Funding) Act 1992 100 Paragraph 48B(1)(c) Omit "Corporations Law", substitute "Corporations Act 2001". Coal Mining Industry (Long Service Leave) Payroll Levy Collection Act 1992 101 Section 3 (definition of financial statements) Omit "Corporations Law", substitute "Corporations Act 2001". 102 Subsection 10(1) Omit "Corporations Law", substitute "Corporations Act 2001". Commonwealth Authorities and Companies Act 1997 Note: The Reader's Guide to the Commonwealth Authorities and Companies Act 1997 is altered by omitting "Corporations Law" (wherever occurring) and substituting "Corporations Act 2001". 103 Section 5 (definition of Corporations Law) Repeal the definition. 104 Section 5 (definition of Corporations Law company) Repeal the definition. 105 Section 5 Insert: Corporations Act company means a body corporate that is incorporated, or taken to be incorporated, under the Corporations Act 2001. 106 Section 5 (paragraph (c) of the definition of director) Omit "Corporations Law", substitute "Corporations Act 2001". 107 Section 5 (definition of subsidiary) Omit "Corporations Law", substitute "Corporations Act 2001". 108 Paragraph 7(2)(a) Omit "Law", substitute "Act". 109 Subsection 12(2) Omit "Corporations Law company", substitute "Corporations Act company". 110 Subsection 12(2) Omit "Corporations Law" (second and third occurring), substitute "Corporations Act 2001". 111 Subsection 23(1) (note 2) Omit "Corporations Law", substitute "Corporations Act 2001". 112 Subsection 26(1) (note) Omit "Corporations Law", substitute "Corporations Act 2001". 113 Subsection 31(3) Omit "Corporations Law of a State or Territory", substitute "Corporations Act 2001". 114 Subsection 34(1) Omit "Corporations Law company", substitute "Corporations Act company". 115 Paragraph 35(1)(a) Omit "Corporations Law", substitute "Corporations Act 2001". 116 Subsections 36(1), (2) and (3) Omit "Corporations Law", substitute "Corporations Act 2001". 117 Subsection 37(2) Omit "Corporations Law company", substitute "Corporations Act company". 118 Subsection 37(2) Omit "Corporations Law" (second and third occurring), substitute "Corporations Act 2001". 119 Paragraph 44(1)(a) Omit "Corporations Law", substitute "Corporations Act 2001". 120 Subsection 45(3) Omit "Corporations Law", substitute "Corporations Act 2001". Commonwealth Banks Act 1959 121 Subsection 9(4) Omit "Companies Act 1981", substitute "Corporations Act 2001". 122 Section 27G Repeal the section, substitute: 27G Name of the Commonwealth Bank Notwithstanding subsection 148(2) of the Corporations Act 2001, the Commonwealth Bank need not have the word "Limited" at the end of its name. 123 Section 27J Omit "Companies Act 1981", substitute "Corporations Act 2001". Commonwealth Borrowing Levy Act 1987 124 Subsection 3(1) (paragraph (c) of the definition of body) Omit "Companies Act 1981", substitute "Corporations Act 2001". Commonwealth Electoral Act 1918 125 Paragraph 287(6)(b) Omit "Companies Act 1981", substitute "Corporations Act 2001". 126 Paragraph 306A(8)(d) (definition of financial institution, note) Omit "Corporations Law", substitute "Corporations Act 2001". Commonwealth Funds Management Limited Act 1990 127 Subsection 3(2) Omit "Companies Act 1981", substitute "Corporations Act 2001". 128 Subsection 7(3) Omit "Companies Act 1981", substitute "Corporations Act 2001". 129 Subsection 8(1) (definition of minimum share capital) Omit "Companies Act 1981", substitute "Corporations Act 2001". 130 Section 18 Omit "Companies Act 1981", substitute "Corporations Act 2001". Commonwealth Serum Laboratories Act 1961 131 Section 5 Omit "Companies Act 1981", substitute "Corporations Act 2001". 132 Subsection 8(5) Omit "Companies Act 1981", substitute "Corporations Act 2001". 133 Sections 16, 17 and 18 Repeal the sections, substitute: 16 Past members For the purposes of Division 2 of Part 5.6 of the Corporations Act 2001, a person is not a past member of CSL merely because he or she was a member of the CSL Commission, or acted as a member of the Commission, before the commencement of this Part. 134 Section 19 Omit "Companies Act 1981", substitute "Corporations Act 2001". 135 Subsection 19B(1) (definition of administering body) Omit "Corporations Law", substitute "Corporations Act 2001". 136 Subsection 19B(1) (definition of associate) Omit "Corporations Law", substitute "Corporations Act 2001". 137 Subsection 19B(1) (paragraphs (a) and (b) of the definition of associate) Omit "that Law", substitute "that Act". 138 Subsection 19B(1) (definition of Corporations Law) Repeal the definition. 139 Subsection 19B(1) (definition of register of members) Omit "Corporations Law", substitute "Corporations Act 2001". 140 Subsection 19B(1) (definition of voting share) Omit "Corporations Law", substitute "Corporations Act 2001". 141 Subsection 19B(3) Omit "Corporations Law", substitute "Corporations Act 2001". 142 Subsection 19B(3) Omit "that Law", substitute "that Act". 143 Subsection 19D(3) (definition of resolution) Omit "Corporations Law", substitute "Corporations Act 2001". 144 Subsection 19D(3) (definition of special resolution) Omit "Corporations Law", substitute "Corporations Act 2001". 145 Section 19Z Omit "Corporations Law", substitute "Corporations Act 2001". Note: The heading to section 19Z is altered by omitting "Law" and substituting "Act". Commonwealth Superannuation Board Act 2001 146 Subsection 10(8) Omit "Corporations Law from managing a corporation (within the meaning of that Law)", substitute "Corporations Act 2001 from managing a corporation (within the meaning of that Act)". Crimes Act 1914 147 Paragraph 4AB(3)(b) Repeal the paragraph. Criminal Code Act 1995 148 The Dictionary in the Criminal Code (subparagraph (a)(iii) of the definition of Commonwealth Authority) Repeal the subparagraph, substitute: (iii) the Corporations Act 2001; or 149 The Dictionary in the Criminal Code (subparagraph (n)(iii) of the definition of Commonwealth public official) Repeal the subparagraph, substitute: (iii) the Corporations Act 2001; or 150 The Dictionary in the Criminal Code (subparagraph (r)(iii) of the definition of Commonwealth public official) Repeal the subparagraph, substitute: (iii) the Corporations Act 2001; or Crown Debts (Priority) Act 1981 151 Section 4 Omit "Companies Act 1981 or in the Corporations Act 1989", substitute "Corporations Act 2001". Customs Act 1901 152 Paragraph 67EB(4)(c) Omit "Corporations Law", substitute "Corporations Act 2001". 153 Paragraph 67EB(4)(d) Omit "that Law", substitute "that Act". 154 Paragraph 77K(3)(d) Omit "Corporations Law", substitute "Corporations Act 2001". 155 Paragraph 77K(3)(e) Omit "that Law", substitute "that Act". 156 Subparagraph 77N(2)(c)(iii) Omit "Corporations Law", substitute "Co