Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The regulations may deal with matters of a transitional nature relating to the transition from the application of provisions of the old ASIC legislation of the Commonwealth, a State in this jurisdiction and the Northern Territory to the application of provisions of the new ASIC legislation. The regulations have effect despite anything else in this Part, other than section 258.
(2) Without limiting subsection (1), the regulations may provide for a matter to be dealt with, wholly or partly, in any of the following ways:
(a) by applying (with or without modifications) to the matter:
(i) provisions of the old ASIC legislation, as in force immediately before the commencement or at some earlier time; or
(ii) provisions of the new ASIC legislation; or
(iii) a combination of provisions referred to in subparagraphs (i) and (ii);
(b) by otherwise specifying rules for dealing with the matter;
(c) by specifying a particular consequence of the matter, or of an outcome of the matter, for the purposes of the new ASIC legislation.
(3) The regulations may provide that certain provisions of this Part are taken to be modified as set out in the regulations. The provisions then have effect as if they were so modified.
(4) Despite subsection 12(2) of the Legislation Act 2003 , regulations made for the purposes of this section may be expressed to take effect from a date before the regulations are registered under that Act.
(5) In this section:
"matters of a transitional nature" also includes matters of an application or saving nature.