South Australian Consolidated Acts South Australian Consolidated Acts (1) The regulations in
force immediately before the repeal of the Corporations Act under section 22
of that Act—
(a)
apply as regulations in force for the purposes of the Corporations Law of
South Australia; and
(b) as
so applying, may be referred to as the Corporations Regulations of South
Australia.
(2) Subject to
subsection (3) of this section, where regulations under section 22 of the
Corporations Act take effect from a specified day that is earlier than the day
when they are notified in the Commonwealth of Australia Gazette under section
48(1) of the Acts Interpretation Act 1901 of the Commonwealth,
subsection (1) of this section has effect, and is taken always to have
had effect, as if those regulations had taken effect under the
Corporations Act from the specified day.
(3) To the extent that
a provision of the Corporations Regulations of South Australia is taken
because of a particular application of subsection (2) to have effect, or
to have had effect, before the day of notification of the regulations referred
to in that subsection, the provision does not operate so as to—
(a)
affect a private person's rights as at that day so as to disadvantage that
person; or
(b)
impose a liability on a private person in respect of anything done or omitted
to be done before that day.
(4) In
subsection (3)—
"private person" means a person other than—
(a) the
Commonwealth, a State or the Capital Territory; or
(b) an
authority of the Commonwealth, of a State or of the Capital Territory.
(5)
Subsection (3) does not affect any other operation that the provision has
because of subsection (2) or otherwise.