Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An event, circumstance or other thing:
(a) that occurred or arose before the commencement under or as mentioned in a provision of the old ASIC legislation of the Commonwealth, a State in this jurisdiction or the Northern Territory; and
(b) that had a particular significance, status or effect for the purposes of a carried over provision of that legislation (including because of an interpretative provision);
has that same significance after the commencement for the purposes of the provision of the new ASIC legislation that corresponds to that carried over provision.
(2) Without limiting subsection (1), an event, circumstance or other thing has a particular significance for the purposes of a carried over provision of the old ASIC legislation of the Commonwealth, a State in this jurisdiction or the Northern Territory if:
(a) the carried over provision creates an obligation in respect of the event, circumstance or thing (whenever it arose); or
(b) the carried over provision provides for the event, circumstance or thing to be dealt with in a particular way; or
(c) the carried over provision states that the event, circumstance or thing (whenever it arose) is to be disregarded for the purposes of that provision or not covered by that provision.