Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Corporations Act arrangements and reconstructions provisions apply to an Aboriginal and Torres Strait Islander corporation as if the following substitutions were made:
Substitutions to be made | ||
Item | For a reference to ... | substitute a reference to ... |
1 | a Part 5.1 body | |
2 | a body | |
3 | a company | |
4 | the Registrar | |
5 | registered office | registered office or document access address |
Note: If a number of Aboriginal and Torres Strait Islander corporations wish to amalgamate, it may be possible, in some circumstances, for them to proceed with the amalgamation by means of an application to the Registrar under Division 23 (as an alternative to applying to a court for an order under the applied Corporations Act arrangements and reconstructions provisions).
(2) The Corporations Act arrangements and reconstructions provisions apply to an Aboriginal and Torres Strait Islander corporation:
(a) only to the extent to which they are capable of applying to an Aboriginal and Torres Strait Islander corporation; and
(b) with the modifications specified in the regulations.
(3) Regulations made for the purposes of paragraph (2)(b) must not:
(a) increase, or have the effect of increasing, the maximum penalty for any offence; or
(b) widen, or have the effect of widening, the scope of any offence.
(4) In this Act:
"Corporations Act arrangements and reconstructions provisions" means:
(a) Part 5.1 of the Corporations Act (other than paragraph 411(17)(a), subsection 412(3) and (5) and section 414); and
(b) section 425, subsections 427(2) and (4), sections 428, 432 and 434 of, and Subdivision B of Division 90 of Schedule 2 to, that Act to the extent to which they are applied by subsection 411(9) of that Act; and
(c) the other provisions of that Act (including Parts 1.2, 5.8, 5.9 and 9.4 and Schedule 3 but not including Parts 1.1, 1.1A and 9.4A) to the extent to which they relate to the operation of Part 5.1 of that Act and the provisions referred to in paragraph (b) of this definition; and
(d) the regulations and rules made under that Act for the purposes of Part 5.1 of that Act and the provisions referred to in paragraphs (b) and (c) of this definition.