(1) On and after the sale day, SMEC is not taken for the purposes of a law to be:
(a) established by or under an Act; or
(b) established by the Commonwealth;
unless a law expressly provides otherwise.
(3) In subsection ( 1) :
"law" means:
(a) an Act of the Commonwealth or of a State or Territory; and
(b) regulations or other instrument made under such an Act.