Queensland Consolidated Acts Queensland Consolidated Acts(1) Where the ministerial council approves the exemption of a company from complying with all or any of the provisions of the Companies (Queensland) Code, part 4, division 6 in relation to any prescribed interest, or class of prescribed interests, specified by the ministerial council, the Governor in Council may make regulations exempting that company, subject to such terms and conditions as are specified in the regulations, from so complying.
(2) Where the ministerial council approves--
(a) a body corporate incorporated in the State, not being a company within the meaning of the Companies (Queensland) Code; or
(b) an unincorporated society, association or other body, formed or established in the State, that has been admitted to the official list of a stock exchange that is a prescribed stock exchange for the purposes of that Code and has not been removed from that official list;
as a prescribed corporation for the purposes of that Code, part 4, division 8 the Governor in Council may make regulations prescribing that body corporate, unincorporated society, association or other body as a prescribed corporation for the purposes of that division.
(3) Where the ministerial council approves the declaration of a right or interest, or a right or interest included in a class or kind or rights or interests as an exempt right or interest, or a class or kind of exempt rights or interests, for the purposes of the Companies (Queensland) Code, part 4, division 6, the Governor in Council may make regulations declaring that right or interest, or a right or interest included in that class or kind of rights or interests, to be, subject to such terms and conditions as are specified in the regulations, an exempt right or interest, or a class or kind of exempt rights or interests, for the purposes of that division.
(4) Where, immediately before the commencement of this Act, a right or interest was, under regulations under the Companies Act 1961, an exempt right or interest for the purposes of section 76(1)(g) or of part 4, division 5 of that Act, that right or interest shall be deemed to have been declared by regulations under this section to be an exempt right or interest for the purposes of the Companies (Queensland) Code, part 4, division 6.
(5) A right or interest to which subsection (4) applies ceases to be an exempt right or interest for the purposes of the Companies (Queensland) Code, part 4, division 6 if the Governor in Council makes regulations declaring that it so ceases.
(6) Regulations under this section shall be read and construed as one with the Companies (Queensland) Regulations.