Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 10.2.94B

         (1)   For section 1444 of the Act, on and after the FSR commencement, paragraphs 827 (1) (d) and 1192 (1) (d) of the old Corporations Act, and associated provisions, continue to apply to the extent necessary to allow a prohibition to be made or enforced against a person in relation to:

                (a)    conduct or another matter that occurred before the FSR commencement; or

               (b)    conduct or another matter that:

                          (i)    occurred after the FSR commencement; and

                         (ii)    is regulated in accordance with section 1432 or 1436A of the Act.

         (2)   A prohibition made in relation to conduct or another matter mentioned in subregulation (1) is taken to be a prohibition made under paragraph 827 (1) (d) or 1192 (1) (d) of the old Corporations Act.

         (3)   For subregulation (2), nothing in the relevant old
legislation (including the Australian Securities and Investments Commission Act 2001 ) prevents ASIC from drafting or amending the terms of a prohibition for the purpose of ensuring that the prohibition has the same effect under the amended Corporations Act as it had under the old Corporations Act, or an effect equivalent to the effect it had under the old Corporations Act.