Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to subsection (4), a reference in the new corporations legislation to:
(a) an Act, or regulations or another instrument that is part of the new corporations legislation; or
(b) a provision or group of provisions of such an Act, regulations or other instrument;
is taken, in relation to events, circumstances or things that happened or arose at a time before the commencement when the old corporations legislation was in force, to include (in the absence of an express provision to the contrary) a reference to the corresponding part, provision or provisions of the old corporations legislation of the States and Territories in this jurisdiction.
(2) Subject to subsection (4), a reference in the new corporations legislation to:
(a) an Act, or regulations or some other instrument that is part of the new ASIC legislation; or
(b) a provision or group of provisions of such an Act, regulations or other instrument;
is taken, in relation to events, circumstances or things that happened or arose at a time before the commencement when the old corporations legislation was in force, to include (in the absence of an express provision to the contrary) a reference to the corresponding part, provision or provisions of the old ASIC legislation of the Commonwealth, of the States in this jurisdiction and of the Northern Territory.
(3) In subsection (2):
(a) new ASIC legislation and old ASIC legislation have the same meanings as they have in Part 16 of the Australian Securities and Investments Commission Act 2001 ; and
(b) the question whether a provision or part of the old ASIC legislation corresponds to a provision of part of the new ASIC legislation is to be determined in the same way as it is determined for the purposes of Part 16 of the Australian Securities and Investments Commission Act 2001 .
(4) The regulations may provide that subsection (1) or (2) does not apply in relation to a particular reference or class of references in the new corporations legislation.