Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to subsection (4), a reference in the new ASIC legislation to:
(a) an Act, or to regulations or another instrument that is part of the new ASIC legislation; or
(b) a provision or group of provisions of such an Act, regulations or other instrument;
is taken, in relation to events, circumstances or things that happened or arose at a time before the commencement when the old ASIC legislation was in force, to include (in the absence of an express provision to the contrary) a reference to the corresponding part, provision or provisions of the old ASIC legislation of the Commonwealth, a State in this jurisdiction or the Northern Territory.
(2) Subject to subsection (4), a reference in the new ASIC legislation to:
(a) an Act, or to regulations or some other instrument that is part of the new corporations legislation; or
(b) a provision or group of provisions of such an Act, regulations or other instrument;
is taken, in relation to events, circumstances or things that happened or arose at a time before the commencement when the old corporations legislation was in force, to include (in the absence of an express provision to the contrary) a reference to the corresponding part, provision or provisions of the old corporations legislation of the States and Territories in this jurisdiction.
(3) In subsection (2):
(a) new corporations legislation and old corporations legislation have the same meanings as they have in Part 10.1 of the Corporations Act; and
(b) the question whether a provision or part of the old corporations legislation corresponds to a provision of part 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.
(4) The regulations may provide that subsection (1) or (2) does not apply in relation to a particular reference or class of references in the new ASIC legislation.