Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If ASIC is satisfied that:
(a) an offer of securities is being made or has been made in a recognised jurisdiction under a foreign recognition scheme; and
(b) there is a contravention of section 734 or 1018A (as they apply by force of section 1200T) constituted by conduct in the recognised jurisdiction in relation to the offer;
ASIC may order that no offers, issues, sales or transfers of the securities the subject of the offer be made in the recognised jurisdiction while the order is in force.
(2) Before making an order under subsection (1), ASIC must:
(a) hold a hearing; and
(b) give a reasonable opportunity to any interested people to make oral or written submissions to ASIC on whether an order should be made.
(3) If ASIC considers that any delay in making an order under subsection (1) pending the holding of a hearing would be prejudicial to the public interest, ASIC may make an interim order that no offers, issues, sales or transfers of the securities be made while the interim order is in force. The interim order may be made without holding a hearing and lasts for 21 days after the day on which it is made unless revoked before then.
(4) At any time during the hearing, ASIC may make an interim order that no offers, issues, sales or transfers of the securities be made while the interim order is in force. The interim order lasts until:
(a) ASIC makes an order under subsection (1) after the conclusion of the hearing; or
(b) the interim order is revoked;
whichever happens first.
(5) An order under subsection (1), (3) or (4) must be in writing and must be served on the person who is ordered not to offer, issue, sell or transfer securities.
(6) The person on whom the order is served must take reasonable steps to ensure that other people who engage in conduct to which the order applies are aware of the order.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(7) The person on whom the order is served, or a person who is aware of the order, must not engage in conduct contrary to the order.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
Act No. 50 of 2001 as amended
This compilation
was prepared on 16 May 2012
taking into account amendments up to Act
No. 132 of 2011
Volume 5 includes: Table of
Contents
Chapters 9 and 10 (ss. 1274 - 1525)
Schedules 3 and 4
Note 1
Table of Acts
Act Notes
Table of Amendments
Note 2
Table A
The text of any of
those amendments not in force
on that date is appended in the Notes section
The operation of amendments that have been incorporated may be
affected by
application provisions that are set out in the Notes section
Contents
Part 9.1--Registers and registration of documents 1
1274...... Registers ............................................................................................. 1
1274AA Register of disqualified company directors and other officers ............. 6
1274A... Obtaining information from certain registers ....................................... 7
1274B... Use, in court proceedings, of information from ASIC's national database 8
1274C... ASIC certificate ................................................................................... 8
1275...... Relodging of lost registered documents .............................................. 8
Part 9.2--Registration of auditors and liquidators 10
1276...... Definitions ........................................................................................ 10
1279...... Application for registration as auditor or liquidator ........................... 11
1280...... Registration of auditors ..................................................................... 11
1280A... Approval of auditing competency standard ....................................... 13
1281...... Auditor-General taken to be registered as auditor ............................. 13
1282...... Registration of liquidators ................................................................. 14
1283...... Registration of official liquidators ..................................................... 16
1284...... Insurance to be maintained by liquidators ......................................... 16
1285...... Register of Auditors .......................................................................... 17
1286...... Registers of Liquidators and Official Liquidators ............................. 17
1287...... Notification of certain matters ........................................................... 19
1287A... Annual statements by registered company auditors ........................... 20
1288...... Annual statements by registered liquidators ...................................... 20
1289...... Auditors and other persons to enjoy qualified privilege in certain circumstances 21
Division 2A--Conditions on registration of auditors 24
1289A... ASIC may impose conditions on registration .................................... 24
Division 3--Cancellation or suspension of registration 25
1290...... Cancellation at request of registered person ...................................... 25
1290A... Cancellation on certain grounds ........................................................ 25
1291...... Official liquidators ............................................................................ 26
1292...... Powers of Board in relation to auditors and liquidators .................... 26
1294...... Board to give opportunity for hearing etc. ......................................... 30
1294A... Pre-hearing conference ...................................................................... 31
1295...... Board may remove suspension ......................................................... 31
1296...... Notice of Board's decision ................................................................ 32
1297...... Time when Board's decision comes into effect ................................. 33
1298...... Effect of suspension .......................................................................... 34
1298A... Transfer of books .............................................................................. 34
Part 9.2A--Authorised audit companies 36
1299A... Application for registration as authorised audit company .................. 36
1299B... Eligibility for registration as an authorised audit company ................ 36
1299C... Registration as authorised audit company ......................................... 37
1299D... Registration may be subject to conditions ......................................... 37
1299E.... Register of authorised audit companies ............................................. 38
1299F.... Notification of certain matters ........................................................... 38
1299G... Annual statements by authorised audit company ............................... 39
Division 2--Cancellation or suspension of registration 41
1299H... Cancellation at request of registered person ...................................... 41
1299I..... Cancellation or suspension in other cases ......................................... 41
1299J.... Notice of cancellation or suspension ................................................. 41
1299K... Time when ASIC's decision comes into effect ................................. 41
1299L.... Effect of suspension .......................................................................... 42
1299M.. Effect of cancellation ......................................................................... 42
1300...... Inspection of books ........................................................................... 43
1301...... Location of books on computers ....................................................... 43
1303...... Court may compel compliance .......................................................... 44
1304...... Translations of instruments ............................................................... 45
1305...... Admissibility of books in evidence ................................................... 45
1306...... Form and evidentiary value of books ................................................ 45
1307...... Falsification of books ........................................................................ 47
Division 1A--Application of the Criminal Code 48
1308A... Application of Criminal Code ........................................................... 48
Division 1--Specific offences 49
1308...... False or misleading statements .......................................................... 49
1309...... False information etc. ........................................................................ 51
1310...... Obstructing or hindering ASIC etc. .................................................. 53
Division 2--Offences generally 54
1311...... General penalty provisions ................................................................ 54
1312...... Penalties for bodies corporate ........................................................... 55
1313...... Penalty notices .................................................................................. 56
1313A... Offences committed partly in and partly out of the jurisdiction ......... 59
1314...... Continuing offences .......................................................................... 59
1315...... Proceedings: how taken .................................................................... 63
1316...... Time for instituting criminal proceedings .......................................... 63
1316A... Privilege against self-incrimination not available to bodies corporate in Corporations Act criminal proceedings 63
1317...... Certain persons to assist in prosecutions ........................................... 64
Part 9.4AAA--Protection for whistleblowers 66
1317AA Disclosures qualifying for protection under this Part ........................ 66
1317AB Disclosure that qualifies for protection not actionable etc. ................. 67
1317AC Victimisation prohibited .................................................................... 68
1317AD Right to compensation ....................................................................... 69
1317AE. Confidentiality requirements for company, company officers and employees and auditors 69
Part 9.4A--Review by Administrative Appeals Tribunal of certain decisions 71
1317A... Definitions ........................................................................................ 71
1317B... Applications for review ..................................................................... 71
1317C... Excluded decisions ............................................................................ 71
1317D... Notice of reviewable decision and review rights ............................... 72
Part 9.4AA--Infringement notices for alleged contraventions of continuous disclosure provisions 74
1317DAA Definitions .................................................................................... 74
1317DAB Purpose and effect of this Part ....................................................... 75
1317DAC Issue of infringement notice .......................................................... 76
1317DAD Statement of reasons must be given .............................................. 77
1317DAE Matters to be included in infringement notice ................................ 78
1317DAF Effect of issue and compliance with infringement notice ............... 80
1317DAG Effect of failure to comply with infringement notice ..................... 82
1317DAH Compliance period for infringement notice ................................... 85
1317DAI Withdrawal of infringement notice .................................................. 85
1317DAJ Publication in relation to infringement notices ................................ 86
Part 9.4B--Civil consequences of contravening civil penalty provisions 89
1317DA Definitions ........................................................................................ 89
1317E.... Declarations of contravention ............................................................ 89
1317F.... Declaration of contravention is conclusive evidence ......................... 91
1317G... Pecuniary penalty orders ................................................................... 91
1317H... Compensation orders--corporation/scheme civil penalty provisions 92
1317HA Compensation orders--financial services civil penalty provisions .... 93
1317HB Compensation orders--market integrity rules ................................... 94
1317J.... Who may apply for a declaration or order ......................................... 95
1317K... Time limit for application for a declaration or order .......................... 96
1317L.... Civil evidence and procedure rules for declarations of contravention and civil penalty orders 96
1317M.. Civil proceedings after criminal proceedings ..................................... 96
1317N... Criminal proceedings during civil proceedings ................................. 96
1317P.... Criminal proceedings after civil proceedings ..................................... 97
1317Q... Evidence given in proceedings for penalty not admissible in criminal proceedings 97
1317R... ASIC requiring person to assist ........................................................ 98
1317S.... Relief from liability for contravention of civil penalty provision ....... 99
Part 9.5--Powers of Courts 101
1318...... Power to grant relief ........................................................................ 101
1319...... Power of Court to give directions with respect to meetings ordered by the Court 102
1321...... Appeals from decisions of receivers, liquidators etc. ...................... 102
1322...... Irregularities .................................................................................... 103
1323...... Power of Court to prohibit payment or transfer of money, financial products or other property 105
1324...... Injunctions ...................................................................................... 108
1324A... Provisions relating to prosecutions ................................................. 111
1324B... Order to disclose information or publish advertisements ................ 111
1325...... Other orders .................................................................................... 111
1325A... Orders if contravention of Chapter 6, 6A, 6B or 6C ....................... 114
1325B... Court may order bidder to make offers ........................................... 115
1325C... Unfair or unconscionable agreements, payments or benefits ........... 115
1325D... Contravention due to inadvertence etc. ............................................ 116
1325E.... Orders to secure compliance ........................................................... 117
1326...... Effect of sections 1323, 1324 and 1325 .......................................... 117
1327...... Power of Court to punish for contempt of Court ............................ 117
1330...... ASIC's power to intervene in proceedings ..................................... 118
1331...... Civil proceedings not to be stayed ................................................... 118
1332...... Standard of proof ............................................................................ 118
1333...... Evidence of contravention ............................................................... 119
1335...... Costs ............................................................................................... 119
1336...... Vesting of property ......................................................................... 120
Part 9.6A--Jurisdiction and procedure of Courts 121
Division 1--Civil jurisdiction 121
Subdivision A--Preliminary 121
1337A... Operation of Division ..................................................................... 121
Subdivision B--Conferral of jurisdiction 122
1337B... Jurisdiction of Federal Court and State and Territory Supreme Courts 122
1337C... Jurisdiction of Family Court and State Family Courts .................... 123
1337D... Jurisdiction of courts (decisions to prosecute and related criminal justice process decisions made by Commonwealth officers) ........................................................................................... 123
1337E.... Jurisdiction of lower courts ............................................................. 125
1337F.... Appeals ........................................................................................... 125
1337G... Courts to act in aid of each other ..................................................... 126
Subdivision C--Transfer of proceedings 126
1337H... Transfer of proceedings by the Federal Court and State and Territory Supreme Courts 126
1337J.... Transfer of proceedings by Family Court and State Family Courts 128
1337K... Transfer of proceedings in lower courts .......................................... 130
1337L.... Further matters for a court to consider when deciding whether to transfer a proceeding 131
1337M.. Transfer may be made at any stage .................................................. 131
1337N... Transfer of documents .................................................................... 132
1337P.... Conduct of proceedings .................................................................. 132
1337Q... Rights of appearance ....................................................................... 133
1337R... Limitation on appeals ...................................................................... 133
Subdivision D--Rules of court 133
1337S.... Rules of the Federal Court .............................................................. 133
1337T.... Rules of the Supreme Court ............................................................ 134
1337U... Rules of the Family Court ............................................................... 135
Division 2--Criminal jurisdiction 136
1338A... Operation of Division ..................................................................... 136
1338B... Jurisdiction of courts ....................................................................... 136
1338C... Laws to be applied .......................................................................... 138
Part 9.7--Unclaimed property 140
1339...... ASIC to deal with unclaimed property ............................................ 140
1340...... No liability to pay calls on shares etc. ............................................. 140
1341...... Entitlement to unclaimed property ................................................... 140
1342...... Commonwealth or ASIC not liable for loss or damage ................... 141
1343...... Disposal of securities if whereabouts of holder unknown .............. 141
1343A... Disposal of interests in registered scheme if whereabouts of member unknown 142
1344...... Use of ABN .................................................................................... 143
1345A... Minister may delegate prescribed functions and powers under this Act 143
1346...... Non-application of rule against perpetuities to certain schemes ....... 143
1348...... Operation of Life Insurance Act ...................................................... 144
1349...... Privilege against exposure to penalty--disqualification etc. ............ 144
1350...... Compensation for compulsory acquisition ...................................... 147
Part 9.10--Fees imposed by the Corporations (Fees) Act 2001 and the Corporations (Review Fees) Act 2003 148
1351...... Fees are payable to the Commonwealth .......................................... 148
1354...... Lodgment of document without payment of fee .............................. 149
1355...... Doing act without payment of fee ................................................... 149
1356...... Effect of sections 1354 and 1355 .................................................... 149
1359...... Waiver and refund of fees ............................................................... 149
1360...... Debts due to the Commonwealth .................................................... 150
1362...... Payment of fee does not give right to inspect or search ................... 150
1363...... Definitions ...................................................................................... 151
1364...... Power to make regulations .............................................................. 151
1365...... Scope of particular regulations ........................................................ 153
1366...... Verifying or certifying documents .................................................. 153
1367...... Documents lodged by an agent ....................................................... 153
1368...... Exemptions from Chapter 6D or 7 .................................................. 154
1369...... Penalty notices ................................................................................ 154
1369A... State termination of reference .......................................................... 155
Chapter 10--Transitional provisions 156
Part 10.1--Transition from the old corporations legislation 156
1370...... Object of Part .................................................................................. 156
1371...... Definitions ...................................................................................... 157
1372...... Relationship of Part with State validation Acts ............................... 161
1373...... References to things taken or deemed to be the case etc. ................. 162
1374...... Existence of several versions of old corporations legislation does not result in this Part operating to take same thing to be done several times under new corporations legislation etc. ............. 163
1375...... Penalty units in respect of pre-commencement conduct remain at $100 164
1376...... Ceasing to be a referring State does not affect previous operation of this Part 164
Division 2--Carrying over registration of companies 165
1377...... Division has effect subject to Division 7 regulations ...................... 165
1378...... Existing registered companies continue to be registered .................. 165
Division 3--Carrying over the old Corporations Regulations 167
1379...... Division has effect subject to Division 7 regulations ...................... 167
1380...... Old Corporations Regulations continue to have effect .................... 167
Division 4--Court proceedings and orders 168
1381...... Division has effect subject to Division 7 regulations ...................... 168
1382...... Definitions ...................................................................................... 168
1383...... Treatment of court proceedings under or related to the old corporations legislation--proceedings other than federal corporations proceedings ................................................................ 170
1384...... Treatment of court proceedings under or related to the old corporations legislation--federal corporations proceedings ........................................................................................................ 172
1384A... Appeals etc. in relation to some former federal corporations proceedings 174
1384B... Effect of decisions and orders made in federal corporations proceedings before commencement 174
1385...... References to proceedings and orders in the new corporations legislation 175
Division 5--Other specific transitional provisions 177
1386...... Division has effect subject to Division 7 regulations ...................... 177
1387...... Certain applications lapse on the commencement ............................ 177
1388...... Carrying over the Partnerships and Associations Application Order 177
1389...... Evidentiary certificates .................................................................... 177
1390...... Preservation of nomination of body corporate as SEGC ................. 178
1391...... Preservation of identification of satisfactory records ....................... 178
1392...... Retention of information obtained under old corporations legislation of non-referring State 178
1393...... Transitional provisions relating to section 1351 fees ....................... 179
1394...... Transitional provisions relating to securities exchange fidelity fund levies 179
1395...... Transitional provisions relating to National Guarantee Fund levies 180
1396...... Transitional provisions relating to futures organisation fidelity fund levies 181
Division 6--General transitional provisions relating to other things done etc. under the old corporations legislation 183
1397...... Limitations on scope of this Division .............................................. 183
1398...... Provisions of this Division may have an overlapping effect ........... 184
1399...... Things done by etc. carried over provisions continue to have effect 184
1400...... Creation of equivalent rights and liabilities to those that existed before the commencement under carried over provisions of the old corporations legislation ................................................... 186
1401...... Creation of equivalent rights and liabilities to those that existed before the commencement under repealed provisions of the old corporations legislation ........................................................ 187
1402...... Old corporations legislation time limits etc. ..................................... 188
1403...... Preservation of significance etc. of events or circumstances ........... 189
1404...... References in the new corporations legislation generally include references to events, circumstances or things that happened or arose before the commencement ................................. 190
1405...... References in the new corporations legislation to that legislation or the new ASIC legislation generally include references to corresponding provisions of the old corporations legislation or old ASIC legislation 191
1406...... Carrying over references to corresponding previous laws .............. 192
1407...... References to old corporations legislation in instruments ................ 193
1408...... Old transitional provisions continue to have their effect .................. 194
Division 7--Regulations dealing with transitional matters 197
1409...... Regulations may deal with transitional matters ................................ 197
Part 10.2--Transitional provisions relating to the Financial Services Reform Act 2001 198
Division 1--Transitional provisions relating to the phasing-in of the new financial services regime 198
Subdivision A--Preliminary 198
1410...... Definitions ...................................................................................... 198
Subdivision B--Treatment of existing markets 200
1411...... When is a market being operated immediately before the FSR commencement? 200
1412...... Treatment of proposed markets that have not started to operate by the FSR commencement 200
1413...... Obligation of Minister to grant licences covering main existing markets 202
1414...... Section 1413 markets--effect of licences and conditions ................ 204
1415...... Section 1413 markets--preservation of old Corporations Act provisions during transition period 207
1416...... Section 1413 markets--powers for regulations to change how the old and new Corporations Act apply during the transition period .............................................................................. 207
1417...... Section 1413 markets--additional provisions relating to previously unregulated services 208
1418...... Treatment of exempt stock markets and exempt futures markets (other than markets with no identifiable single operator) ........................................................................................................ 209
1419...... Treatment of exempt stock markets and exempt futures markets that do not have a single identifiable operator 211
1420...... Treatment of stock markets of approved securities organisations .... 212
1421...... Treatment of special stock markets for unquoted interests in a registered scheme 214
1422...... Treatment of other markets that were not unauthorised ................... 215
Subdivision C--Treatment of existing clearing and settlement facilities 216
1423...... When is a clearing and settlement facility being operated immediately before the FSR commencement? 216
1424...... Treatment of proposed clearing and settlement facilities that have not started to operate by the FSR commencement ........................................................................................................ 216
1424A... Treatment of unregulated clearing and settlement facilities operated by holders of old Corporations Act approvals ........................................................................................................ 218
1425...... Obligation of Minister to grant licences covering main existing facilities 219
1426...... Section 1425 facilities--effect of licences and conditions ............... 221
1427...... Section 1425 facilities--powers for regulations to change how the old and new Corporations Act apply during the transition period .............................................................................. 222
1428...... Section 1425 facilities--additional provisions relating to previously unregulated services 223
1429...... Treatment of other clearing and settlement facilities ........................ 224
Subdivision D--Treatment of people who carry on financial services businesses and their representatives 225
1430...... Meaning of regulated principal , regulated activities and relevant old legislation 225
1431...... Parts 7.6, 7.7 and 7.8 of the amended Corporations Act generally do not apply to a regulated principal during the transition period .............................................................................. 228
1432...... Continued application of relevant old legislation ............................. 230
1433...... Streamlined licensing procedure for certain regulated principals ..... 231
1434...... Special licences for insurance multi-agents during first 2 years after FSR commencement 232
1435...... Licensing decisions made within the first 2 years of the FSR commencement--regard may be had to conduct and experience of applicant or related body corporate that currently provides same or similar services 234
1436...... Treatment of representatives--general ............................................ 234
1436A... Treatment of representatives--insurance agents .............................. 236
1437...... Exemptions and modifications by ASIC ......................................... 238
Subdivision E--Product disclosure requirements 239
1438...... New product disclosure provisions do not apply to existing products during transition period 239
1439...... Offences against new product disclosure provisions--additional element for prosecution to prove if conduct occurs after opting-in and before the end of the first 2 years .............................. 242
1440...... Continued application of certain provisions of old disclosure regimes during transition period 243
1441...... Certain persons who are not yet covered by Parts 7.6, 7.7 and 7.8 of the amended Corporations Act are required to comply with Part 7.9 obligations as if they were regulated persons 244
1442...... Exemptions and modifications by ASIC ......................................... 244
Subdivision F--Certain other product-related requirements 245
1442A... Deferred application of hawking prohibition ................................... 245
1442B... Deferred application of confirmation of transaction and cooling-off provisions etc. 246
Division 2--Other transitional provisions 248
1443...... Definitions ...................................................................................... 248
1444...... Regulations may deal with transitional, saving or application matters 249
1445...... ASIC determinations may deal with transitional, saving or application matters 251
Part 10.3--Transitional provisions relating to the Corporations Legislation Amendment Act 2003 254
1447...... Application of sections 601AB and 601PB .................................... 254
1448...... Application of amendments made by Schedule 4 to the Corporations Legislation Amendment Act 2003 254
Part 10.4--Transitional provisions relating to the Financial Services Reform Amendment Act 2003 255
1449...... Definition ........................................................................................ 255
1450...... Application of Part 10.2 to Chapter 7 as amended by Schedule 2 to the amending Act 255
1451...... Provisions relating to the scope of the amendments of Chapter 7 made by Schedule 2 256
1452...... Amendments of section 1274 .......................................................... 257
Part 10.5--Transitional provisions relating to the Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 258
1453...... Definitions ...................................................................................... 258
1454...... Audit reforms in Schedule 1 to the amending Act (auditing standards and audit working papers retention rules) 258
1455...... Audit reforms in Schedule 1 to the amending Act (adoption of auditing standards made by accounting profession before commencement) .............................................................................. 259
1456...... Audit reforms in Schedule 1 to the amending Act (new competency standard provisions) 260
1457...... Audit reforms in Schedule 1 to the amending Act (new annual statement requirements for auditors) 260
1458...... Audit reforms in Schedule 1 to the amending Act (imposition of conditions on existing registration as company auditor) ........................................................................................................ 260
1459...... Audit reforms in Schedule 1 to the amending Act (application of items 62 and 63) 260
1460...... Audit reforms in Schedule 1 to the amending Act (non-audit services disclosure) 261
1461...... Audit reforms in Schedule 1 to the amending Act (auditor appointment) 261
1462...... Audit reforms in Schedule 1 to the amending Act (auditor independence) 261
1463...... Audit reforms in Schedule 1 to the amending Act (auditor rotation) 263
1464...... Audit reforms in Schedule 1 to the amending Act (listed company AGMs) 263
1465...... Schedule 2 to the amending Act (financial reporting) ...................... 263
1466A... Schedule 2A to the amending Act (true and fair view) .................... 264
1466...... Schedule 3 to the amending Act (proportionate liability) ................. 264
1467...... Schedule 4 to the amending Act (enforcement) ............................... 264
1468...... Schedule 5 to the amending Act (remuneration of directors and executives) 264
1469...... Schedule 6 to the amending Act (continuous disclosure) ................ 265
1470...... Schedule 7 to the amending Act (disclosure rules) .......................... 265
1471...... Schedule 8 to the amending Act (shareholder participation and information) 266
Part 10.8--Transitional provisions relating to the Corporations Amendment (Takeovers) Act 2007 267
1478...... Application of amendments of the takeovers provisions ................. 267
Part 10.9--Transitional provisions relating to the Corporations Amendment (Insolvency) Act 2007 268
1479...... Definition ........................................................................................ 268
1480...... Schedule 1 to the amending Act (improving outcomes for creditors) 268
1481...... Schedule 2 to the amending Act (deterring corporate misconduct) .. 271
1482...... Schedule 3 to the amending Act (improving regulation of insolvency practitioners) 271
1483...... Schedule 4 to the amending Act (fine-tuning voluntary administration) 272
Part 10.10 Transitional provisions relating to the Corporations Amendment (Short Selling) Act 2008 275
1484...... Declarations under paragraph 1020F(1)(c) relating to short selling 275
Part 10.11--Transitional provisions relating to the Corporations Amendment (No. 1) Act 2009 277
1485...... Application of new subsection 206B(6) .......................................... 277
1486...... Application of new section 206EAA .............................................. 277
Part 10.12--Transitional provisions relating to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 278
Division 1--Transitional provisions relating to Schedule 1 to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 278
1487...... Definitions ...................................................................................... 278
1488...... Application of amendments--general ............................................. 278
1489...... Applications of amendments--application for and grant of licences etc. authorising margin lending financial services ........................................................................................................ 279
1490...... Application of amendments--between 6 and 12 months after commencement 280
1491...... Acquisition of property ................................................................... 281
1492...... Regulations ..................................................................................... 281
Division 2--Transitional provisions relating to Schedule 2 to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 282
1493...... Definitions ...................................................................................... 282
1494...... Transitional provisions relating to limit on control of trustee companies 282
1495...... Transitional provisions relating to the amendments of Chapter 7 .... 283
1496...... General power for regulations to deal with transitional matters ....... 283
Division 3--Transitional provisions relating to Schedule 3 to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 285
1497...... Definitions ...................................................................................... 285
1498...... Application of amendments ............................................................. 285
Part 10.13--Transitional provisions relating to the Personal Property Securities (Corporations and Other Amendments) Act 2009 286
1499...... Definitions ...................................................................................... 286
1500...... Charges, liens and pledges--continuation of restriction of references 286
1501...... Charges, liens, pledges and third party property--application ........ 287
1501A... References to the whole or substantially the whole of a company's property 287
1501B... Constructive notice of registrable charges ....................................... 287
1502...... Repeal of Chapter 2K (charges)--general ....................................... 287
1503...... Repeal of Chapter 2K (charges)--cessation of requirements in relation to documents or notices 288
1504...... Repeal of Chapter 2K (charges)--application of section 266 .......... 288
1505...... Repeal of Chapter 2K (charges)--cessation of company registration requirements 289
1506...... Repeal of Chapter 2K (charges)--priority between registrable charges 289
1507...... New section 440B (restrictions on third party property rights) ....... 289
1508...... New subsection 442CB(1) (administrator's duty of care) ............... 290
1509...... New section 588FP (security interests in favour of an officer of a company etc. void) 290
1510...... Winding up applied for before the commencement time .................. 290
Part 10.14--Transitional provisions relating to the Corporations Amendment (Corporate Reporting Reform) Act 2010 291
1510A... Definition ........................................................................................ 291
1510B... Application of Part 1 of Schedule 1 to the amending Act ................ 291
Part 10.15--Transitional provisions relating to the Corporations Amendment (Financial Market Supervision) Act 2010 293
1511...... Definition ........................................................................................ 293
1512...... Application of amendments ............................................................. 293
1513...... Regulations may deal with transitional matters ................................ 293
Part 10.16--Transitional provisions relating to the Corporations Amendment (No. 1) Act 2010 294
1516...... Application of amendments ............................................................. 294
Part 10.17--Transitional provisions relating to the Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Act 2011 295
1517...... Application of Subdivision B of Division 1 of Part 2D.3 ............... 295
1518...... Application of sections 206J, 206K, 206L and 206M ..................... 295
1519...... Application of subsection 249L(2) .................................................. 295
1520...... Application of section 250BB ......................................................... 295
1521...... Application of section 250BC ......................................................... 295
1522...... Application of section 250BD ......................................................... 296
1523...... Application of subsections 250R(4) to (10) .................................... 296
1524...... Application of Division 9 of Part 2G.2 ........................................... 296
1525...... Application of amendments of section 300A .................................. 296
Schedule 4--Transfer of financial institutions and friendly societies 330
1............ Definitions ...................................................................................... 330
Part 2--Financial institutions that became companies 333
Division 1--Registration and its consequences 333
3............ Background (registration of transferring financial institution as company) 333
4............ Rules applied to transferring institution that was registered as a company under the transfer provisions 333
11.......... Transferring financial institution under external administration ....... 334
12.......... Institution that became a company limited by shares ....................... 337
13.......... Institution that became a company limited by guarantee .................. 338
14.......... Institution becoming a company limited by shares and guarantee ... 339
15.......... Redeemable preference shares that were withdrawable shares ........ 339
16.......... Liability of members on winding up ............................................... 340
17.......... Share capital .................................................................................... 341
18.......... Application of no par value rule ...................................................... 341
19.......... Calls on partly-paid shares .............................................................. 342
20.......... References in contracts and other documents to par value ............... 342
Part 4--The transition period 344
25.......... ASIC may direct directors of a company to modify its constitution 344
27.......... When certain modifications of a company's constitution under an exemption or declaration take effect 345
29.......... Disclosure for proposed demutualisation ........................................ 347
30.......... ASIC's exemption power ............................................................... 349
31.......... Coverage of disclosure statement .................................................... 350
32.......... Registration of disclosure statement ................................................ 350
33.......... Expert's report ................................................................................ 352
34.......... Unconscionable conduct in relation to demutualisations ................. 352
35.......... Orders the Court may make ............................................................ 353
Part 6--Continued application of fundraising provisions of the Friendly Societies Code 355
36.......... Friendly Societies Code to apply to offers of interests in benefit funds 355
Part 7--Transitional provisions 357
37.......... Unclaimed money ........................................................................... 357
38.......... Modification by regulations ............................................................ 358
39.......... Regulations may deal with transitional, saving or application matters 359