Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to this section, a thing that:
(a) was done before the commencement by, under, or for the purposes of, a carried over provision of the old corporations legislation of a State or Territory in this jurisdiction; and
(b) had an ongoing significance (see subsections (4) and (5)) immediately before the commencement for the purposes of that legislation;
has effect (and may be dealt with) after the commencement, for the purposes of the new corporations legislation, as if it were done by, under, or for the purposes of, the corresponding provision of the new corporations legislation.
Note: This section covers all kinds of things done, including things of a coercive nature or done for coercive purposes.
(2) Examples of things done include:
(a) the making of an instrument or order (but not including the making of an order by a court); and
(b) the making of an application or claim (but not including the making of an application or claim to a court); and
(c) the granting of an application or claim (but not including the granting of an application or claim by a court); and
(d) the making of an appointment or delegation; and
(e) the commencement of a procedure or the taking of a step in a procedure (but not including the commencement of a proceeding in a court); and
(f) the establishment of a register or fund; and
(g) requiring a person to do, or not to do, something (but not including a requirement contained in an order made by a court); and
(h) the giving of a notice or document.
(3) The examples in subsection (2) are not intended to limit the generality of the language of subsection (1).
(4) Subject to subsection (5), for the purposes of this section, a thing done by, under, or for the purposes of, a carried over provision of the old corporations legislation of a State or Territory had an ongoing significance immediately before the commencement for the purposes of that legislation if:
(a) if the thing done was the making of an instrument or order--the instrument or order was still in force immediately before the commencement; or
(b) if the thing done was the making of an application or claim--the application or claim had not been decided, and had not otherwise ceased to have effect, before the commencement; or
(c) if the thing done was the granting of an application or claim--the thing granted had not been revoked, and had not otherwise ceased to have effect, before the commencement; or
(d) if the thing done was the making of an appointment or delegation--the appointment or delegation had not been revoked, and had not otherwise ceased to have effect, before the commencement; or
(e) if the thing done was the commencement of a procedure or the taking of a step in a procedure--the procedure was still in progress immediately before the commencement or was otherwise still having an effect; or
(f) if the thing done was the establishment of a register or fund--the register or fund was still in existence immediately before the commencement; or
(g) if the thing done was requiring a person to do, or not to do something--the requirement was still in force immediately before the commencement; or
(h) if the thing done was the giving of a notice or document, or the doing of some other thing--the notice or document (or the giving of the notice or document), or the thing (or the doing of the thing), had an ongoing effect or significance immediately before the commencement for the purposes of the old corporations legislation of the State or Territory.
(5) The regulations may provide that a specified thing done under, or for the purposes of, a carried over provision of the old corporations legislation of a State or Territory did, or did not, have an ongoing significance immediately before the commencement for the purposes of that legislation.