South Australian Consolidated Acts South Australian Consolidated Acts (1) The Governor may
make regulations for or with respect to any matter or thing required or
permitted by this Act to be prescribed or necessary to be prescribed to give
effect to this Act.
(2) Without limiting
subsection (1), the regulations may provide that certain provisions of
Part 2 are taken to be modified as set out in the regulations. Those
provisions then have effect as if they were so modified.
(3) Without limiting
subsection (1), the regulations may—
(a)
declare a matter to be an excluded matter for the purposes of section 5F of
the new Corporations Act in relation to—
(i)
the whole of the Corporations legislation to which Part
1.1A of that Act applies; or
(ii)
a specified provision of that legislation; or
(iii)
that legislation other than a specified provision; or
(iv)
that legislation otherwise than to a specified extent;
(b)
declare a provision of a law of the State, or a provision of a law of
the State as amended as specified in the regulations, to be a Corporations
legislation displacement provision for the purposes of section 5G of the new
Corporations Act (either generally or specifically in relation to a provision
of the Corporations legislation to which Part 1.1A of that Act applies).
(4) Without limiting
subsection (1), the regulations may make provision for or with respect to
enabling jurisdiction conferred by or under the old corporations legislation
or the old ASIC legislation or a previous State corporations law to be
exercised by a court of the State, or confirming that such jurisdiction is
exercisable by a court of the State, including (without limitation) provisions
for or with respect to—
(a)
conferring jurisdiction on courts of the State; and
(b) the
construction of references in the old corporations legislation or the
old ASIC legislation or a previous State corporations law to Commonwealth
authorities and officers; and
(c) the
disapplication of provisions of the old corporations legislation or the
old ASIC legislation or a previous State corporations law, including
provisions that contemplate the administration or enforcement of laws as if
they were Commonwealth laws or that contemplate offences and other matters as
being offences against and matters under Commonwealth laws; and
(d) the
treatment of offences arising under the old corporations legislation or the
old ASIC legislation or a previous State corporations law (including the
specification of penalties); and
(e)
prescribing modifications of the old corporations legislation or the
old ASIC legislation or a previous State corporations law; and
(f)
associated, procedural and consequential matters.
(5) Without limiting
subsection (1), the regulations may deal with
matters of a transitional nature relating to the transition from the
application of provisions of the old corporations legislation or a
previous State corporations law to the application of provisions of the
new corporations legislation or the new ASIC legislation.
(6) Any provision of
the regulations may be expressed to take effect from a time that is earlier
than the beginning of the day on which the regulations containing the
provision are made, not being a time earlier than immediately before the
relevant time or, in the case of regulations made under section 22(2)(c)
or 22A, the time when the amending Act (or the relevant provision of that Act)
comes into operation or is taken to have come into operation.
(7) To the extent to
which a provision of a regulation takes effect from a time that is earlier
than the beginning of the day on which the regulations containing the
provision are made, the provision does not operate so as—
(a) to
affect in a manner prejudicial to any person (other than the State or an
authority of the State), the rights of that person existing before the date of
making of those regulations; or
(b) to
impose liabilities on any person (other than the State or an authority of the
State) in respect of anything done or omitted to be done before the date of
making of those regulations.
(8) The regulations
have effect despite anything to the contrary in Part 2.
(9) In this
section—
"matters of a transitional nature" includes matters of an application or
savings nature.