Western Australian Numbered Acts Western Australian Numbered Acts (1) The regulations
may declare a matter relating to co-operatives to be an applied Corporations
legislation matter for the purposes of the
Corporations (Ancillary Provisions) Act 2001 Part 3 in relation to
any excluded Corporations legislation provision or provisions, with any
modifications that are specified in the declaration.
(2) Without limiting
subsection (1), any such regulations may —
(a)
specify modifications to the definitions and other interpretative provisions
of the Corporations legislation relevant to any excluded Corporations
legislation provision that is the subject of the declaration; and
(b)
provide for ASIC to exercise a function under any excluded Corporations
legislation provision that is the subject of the declaration, but only
if —
(i)
ASIC is to exercise the function under an agreement
referred to in section 11(8) or (9A)(b) of the new ASIC Act; and
(ii)
ASIC is authorised to exercise that function under
section 11 of the new ASIC Act;
and
(c)
specify that a reference to ASIC in an excluded Corporations legislation
provision that is the subject of the declaration is to be a reference to
another person; and
(d)
identify an excluded Corporations legislation provision to which the
declaration relates by reference to the provision as in force at a particular
time; and
(e)
specify a court (other than the Supreme Court) to exercise a function
conferred on a court or the Court by an excluded Corporations legislation
provision to which the declaration relates.
(3) Words and
expressions used in this section and also in the
Corporations (Ancillary Provisions) Act 2001 Part 3 have the same
meanings in this section as they have in that Part.