ACT Numbered Regulations - Explanatory Statements

[Index] [Search] [Download] [Related Items] [Help]

SUPREME COURT (CORPORATIONS) RULES 2003 (NO 40 OF 2003)

EXPLANATORY STATEMENT

Supreme Court (Corporations) Rules 2003

Subordinate Law SL2003-40

Issued by the Authority of the Judges of the

Supreme Court of the Australian Capital Territory

The Judges of the Supreme Court of the Australian Capital Territory, or a majority of them, may make rules of court pursuant to section 1337T of the Corporations Act 2001 (Cwlth).

These rules repeal the Corporations Rules 2001 (ACT). The new rules substantially repeat the former rules with a new decimal renumbering system, making them consistent with the uniform corporations rules.

There are some minor amendments to the former rules. A new subrule (12.1A) has been introduced providing that the procedures in the Federal Court Rules (order 50 – case stated and questions reserved) apply to a reference of a question of law arising in a proceeding before the Takeovers Panel to the court under the Corporations Act, section 659A. Form 8 (Consent of liquidator/provisional liquidator) has been amended to provide for information on the hourly rates charged by the liquidator/provisional liquidator.