Source: http://www.legislation.nsw.gov.au/fullhtml/inforce/act+83+1990+pt.11-div.1-sec.62+0+N
Timestamp: 2013-05-20 04:45:13
Document Index: 407453145

Matched Legal Cases: ['art 2', 'art 3', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 9', 'art 10', 'art 11', 'art 13', 'art 14', 'art 15', 'art 1', 'art 11', 'art 11', 'art 8', 'art 3', 'art 3', 'art 8', 'art 2', 'art 1', 'art 3', 'art 5', 'art 5', 'art 5', 'art 1', 'art 1', 'art 6', 'art 7', 'art 7', 'art 8', 'art 8', 'art(1', 'art 9', 'art 9', 'art 8', 'art 10', 'art 11', 'art 1', 'art 2', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 9', 'art 10', 'art 11', 'art 12', 'art 14', 'art 11', 'art 11', 'art 3', 'art 3', 'art 3', 'art 3', 'art 4', 'art 11', 'art 4', 'art 10', 'art 10', 'art 11', 'art 3', 'art 1', 'art 3', 'art 3', 'art 3', 'art 3', 'art 2', 'art 4', 'art 12', 'art 13', 'art 12', 'art 14', 'art 15', 'art 1', 'art 2', 'art 6', 'art 13', 'art 13', 'art 13', 'art 13']

Corporations (New South Wales) Act 1990 No 83
Current version for 15 July 2001 to date (accessed 20 May 2013 at 14:45).
File last modified 18 July 2001.
1 Name of Act and purposes
5 This Act and applicable provisions of New South Wales not
to be affected by later State laws
6 Operation of other New South Wales laws
Part 2 The Corporations
Law, and the Corporations
Regulations, of New South Wales
7 Application in New South Wales of the Corporations Law
9 Interpretation of some expressions in the Corporations Law , and the Corporations Regulations , of New South
10 Interpretation law
Part 3 Citing the Corporations Law and the Corporations Regulations
11 Simpler citation of Corporations Law , and Corporations Regulations , of New South
12 References to Corporations Law , and Corporations Regulations , of other
13 References to Corporations Law and Corporations Regulations
Part 4 Application of the Corporations Law to the
15 Corporations Law of New South
Law of other jurisdictions
17 Crown not liable to prosecution
18 This Part overrides the prerogative
Part 5 Application orders
19 Commonwealth Minister to obtain consent of State
20 Application orders for ASIC Law
Part 6 21 (Repealed)Part 7 Imposition of fees and taxes
22 Fees (including taxes) for chargeable matters
23 Contributions and levies for fidelity funds of securities
24 Levies for National Guarantee Fund
25 Contributions and levies for fidelity funds of futures
Part 8 National administration and enforcement of the Corporations Law
27 Effect of Part
Division 2 Offences against applicable provisions
29 Application of Commonwealth laws in relation to offences
against applicable provisions
30 Application of Commonwealth laws in relation to offences
against applicable provisions of other jurisdictions
31 Functions and powers conferred on Commonwealth
32 Reference in Commonwealth law to a provision of another
Division 3 Administrative law
34 Object
35 Application of Commonwealth administrative laws in
relation to applicable provisions
36 Application of Commonwealth administrative laws in
relation to applicable provisions of other jurisdictions
36A Construction of references to Part IVA of Commonwealth
37 Functions and powers conferred on Commonwealth
38 Reference in Commonwealth administrative law to a
provision of another law
Part 9 Jurisdiction and procedure of courts
Division 1 Vesting and cross-vesting of civil
40 Operation of Division
42 Jurisdiction of Federal Court and State and Territory
42A Jurisdiction of Family Court and State Family
42AA Jurisdiction of Supreme Court in relation to certain
decisions made by Commonwealth officers
42B Jurisdiction of lower courts
43 Appeals
44 Transfer of proceedings
44A Transfer of proceedings by Family Court and State Family
44AA Transfer of proceedings in lower courts
44B Further matters for a court to consider when deciding
whether to transfer a proceeding
44C Transfer may be made at any stage
44D Transfer of documents
45 Conduct of proceedings
46 Courts to act in aid of each other
47 Exercise of jurisdiction pursuant to cross-vesting
48 Rights of appearance
49 Limitation on appeals
50 Enforcement of judgments
51 Rules of the Supreme Court
52A Rules of a State Family Court
Division 2 Vesting and cross-vesting of criminal
53 Operation of Division
55 Jurisdiction of courts
56 Laws to be applied
Part 10 Companies Liquidation Account
57 Companies Liquidation Account
Part 11 The ASIC Law, and the
ASIC Regulations, of New South
Division 1 Application of ASIC Act and ASIC Regulations
58 Application in New South Wales of the ASIC Act
59 Application of regulations
60 Interpretation of some expressions in the
ASIC Law , and the ASIC Regulations , of New South
61 Giving information
62 Interpretation law
Division 2 Citing the ASIC Law
and the ASIC
63 Alternative citations of the ASIC
Law , and the ASIC
Regulations , of New South Wales
64 References to ASIC Law , and
ASIC Regulations , of another
65 References to ASIC Law and
Division 3 The Commission
66 Conferral of functions and powers on Commission
68 Conferral of other functions and powers for purposes of
Division 4 The Panel
70 Conferral of functions and powers on the Panel
Division 5 The Disciplinary Board
71 Conferral of functions and powers on the Disciplinary
72 Acting appointments
73 Alteration of names and constitutions
74 Application of Commonwealth Crimes Act
75 Application of Commonwealth Evidence Act
Division 1 Arrangements
77 Arrangements relating to applicable provisions
78 Notice of arrangement
Division 2 Penalties and fines
79 Application of penalties and fines
Part 13 Transitional
81 Information previously acquired
82, 83 (Repealed)
Division 2 Co-operative scheme laws
84 Co-operative scheme laws
85 National scheme laws prevail over co-operative scheme
86 Regulations may exclude residual operation of co-operative
scheme laws
87 Effect of sections 85 and 86
88 Regulations may modify co-operative scheme laws
89 Co-operative scheme laws not affected by certain
90 References to co-operative scheme laws and
91 Conferral of functions and powers in relation to
co-operative scheme laws
92 Arrangements affecting exercise of investigation powers by
State authorities and officers
Division 3 93 (Repealed)Division 4 Australian Stock Exchange Limited
94 Saving of provisions about Australian Stock Exchange
Division 5 Companies Auditors and Liquidators Disciplinary
95 Board to continue in existence for certain
96 References to Corporate Affairs Commission
Division 7 Amending Acts
96A Savings and transitional provisions for amending
Division 8 Functions of Commonwealth authorities and officers
96B Definitions
96C Functions of Commonwealth authorities and officers of the
Part 14 Provisions affecting Corporations Law
97 Certain transfers by companies not to constitute reduction
Part 15 Amendment of Acts
Schedule 2 Savings and transitional provisions (amending
An Act to apply certain provisions of laws of the Commonwealth
relating to corporations, the securities industry and the futures industry as
laws of New South Wales and for other purposes.Part 1 Preliminary1 Name of Act and purposes(1) This Act may be cited as the Corporations (New South Wales) Act
1990.(2) The purposes of this Act are:(a) to apply certain provisions of the Corporations Act 1989 of the Commonwealth
and the Australian Securities and Investments
Commission Act 1989 of the Commonwealth and of regulations
under those Acts as laws of New South Wales, and
(b) to apply certain other laws of the Commonwealth as laws of New
South Wales for the purpose of the administration and enforcement of the law
relating to corporations, the securities industry, the futures industry and
2 CommencementThis Act commences on a day or days to be appointed by
proclamation.3 Definitions(1) In this Act:applicable
provision, in relation to a jurisdiction, means a provision
of:(a) the Corporations
Law, or Corporations
Regulations, of that jurisdiction, or
(b) the ASIC Law, or ASIC Regulations, of that jurisdiction,
(c) in the case of the Capital Territory—a Commonwealth law as
applying, of its own force or because of another Commonwealth law, in relation
to:(i) an offence against, or
(ii) an act, matter or thing arising under or in respect
a provision that, because of any other application or applications of
this definition, is an applicable provision of the Capital Territory or any
other jurisdiction, or
(d) in the case of a jurisdiction other than the Capital
Territory—a Commonwealth law as applying, because of a law of that
jurisdiction, in relation to:(i) an offence against, or
this definition, is an applicable provision of that or any other
means the Australian Securities and Investments
Commission Act 1989 of the Commonwealth.ASIC Law has
the meaning given by Part 11.ASIC Law
of New South Wales means the provisions applying by reason of
section 58.ASIC
Regulations has the meaning given by Part 11.ASIC Regulations of
New South Wales means the provisions applying by reason of section
59.authority,
in relation to the Commonwealth, has the same meaning as in Part 8 of the
Corporations Act.Capital
Territory means the Australian Capital Territory and the Jervis Bay
Territory.Commission means the Australian
Securities and Investments Commission established by the ASIC
Act.Commonwealth
administrative laws means the following:(a) the Administrative Appeals Tribunal Act
1975 of the Commonwealth (excluding Part
IVA),
(c) the Freedom of Information Act
1982 of the Commonwealth,
(d) the Ombudsman Act 1976
(e) the Privacy Act 1988 of
and the provisions of the regulations in force for the time being under
those Acts.Commonwealth
law means any of the written or unwritten laws of the Commonwealth,
including laws about the exercise of prerogative powers, rights and
privileges, other than the Corporations
Law of the Capital Territory, the ASIC Law of the Capital Territory or
provisions prescribed, for the purposes of the definition of Commonwealth law in
section 4 of the Corporations Act, by regulations under section 73 of the
Corporations Act.Commonwealth
Minister has the meaning given to the Minister by section 80A
(2) of the Corporations
Law.co-operative scheme
law has the meaning given by section 84.Corporations
1989 of the Commonwealth.Corporations
Law has the meaning given by Part 3.Corporations Law of
7.Corporations
Regulations has the meaning given by Part 3.Corporations
Regulations of New South Wales means the provisions applying by
reason of section 8.corresponding
law means:(a) an Act of a jurisdiction (other than New South Wales) that
corresponds to this Act, or
(b) regulations made under such an Act, or
(c) the Corporations
Law, Corporations
Regulations, ASIC Law, or
ASIC Regulations, or any other
applicable provision, of such a jurisdiction, or
(d) rules of court made because of such an
Court means the Federal Court of Australia.Full Court,
in relation to a Supreme Court of a State or Territory, includes any court of
the State or Territory to which appeals lie from a single judge of that
Supreme Court.jurisdiction means a State or
the Capital Territory.law in relation
to the Capital Territory, means a law of or in force in the Capital
Territory.Minister for this
jurisdiction means the Minister.modifications includes
additions, omissions and substitutions.national
scheme law has the meaning given by section 60.national scheme
law of this jurisdiction means:(a) this Act, or
(b) the Corporations Law of New South
(c) the ASIC Law of New South
NCSC means the
National Companies and Securities Commission.officer, in
relation to the Commonwealth, has the same meaning as in Part 8 of the
Corporations Act.State includes
the Northern Territory.State Family
Court, in relation to a State, means a court of that State to which
section 41 of the Family Law Act
1975 of the Commonwealth applies because of a Proclamation
made under section 41 (2) of that Act.Territory
does not include the Northern Territory.this
jurisdiction means New South Wales.(2) In this Act, a reference to a Commonwealth Act includes a
reference to:(a) that Commonwealth Act as amended and in force for the time being,
(b) an Act passed in substitution for that
4 Australian Capital TerritoryFor the purposes of the national scheme laws of this jurisdiction,
the Jervis Bay Territory is taken to be part of the Australian Capital
Territory.5 This Act and applicable provisions of New South Wales not
to be affected by later State laws(1) An Act enacted, or an instrument made under an Act, after the
commencement of this section is not to be interpreted as amending or
repealing, or otherwise altering the effect or operation of, this Act or the
applicable provisions of New South Wales.(2) Subsection (1) does not affect the interpretation of an Act, or of
an instrument made under an Act, so far as that Act provides expressly for
that Act or instrument, as the case may be, to have effect despite a specified
provision, or despite any provision, of this Act or the applicable provisions
of New South Wales.6 Operation of other New South Wales lawsExcept as otherwise provided in this Act, nothing in this Act or
the applicable provisions of New South Wales affects the operation after the
commencement of this section of an Act enacted before that commencement or of
an instrument made under such an Act.Part 2 The Corporations
Regulations, of New South Wales7 Application in New South Wales of the Corporations LawThe Corporations
Law set out in section 82 of the Corporations Act as in force
immediately before the repeal of that section:(a) applies as a law of New South Wales, and
(b) as so applying, may be referred to as the Corporations Law of New South
8 Application of regulations(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 New South Wales,
(b) as so applying, may be referred to as the
Corporations Regulations of New South
(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 New South
Wales 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,
(b) an authority of the Commonwealth, of a State or of the Capital
(5) Subsection (3) does not affect any other operation that the
provision has because of subsection (2) or
otherwise.9 Interpretation of some expressions in the Corporations Law, and the Corporations Regulations, of New South
WalesIn the Corporations
Regulations, of New South Wales:the
Minister for this jurisdiction means the Minister.this
jurisdiction means New South Wales.10 Interpretation law(1) Subject to Part 1.2 of the Corporations Law of New
South Wales, the Acts
Interpretation Act 1901 of the Commonwealth as in force at the
commencement of section 8 of the Corporations Act, applies as a law of New
South Wales in relation to the Corporations
Regulations, of New South Wales and any instrument made,
granted or issued under that Law or those Regulations (other than application
orders under section 111A of that Law) and so applies as if that Law were an
Act of the Commonwealth and those Regulations or instruments were regulations
or instruments made under such an Act.(2) The Interpretation Act
1987 does not apply in relation to the Corporations Law, or the Corporations Regulations, of New South
Wales or an application order or any other instrument made, granted or issued
under that Law or those Regulations.Part 3 Citing the Corporations Law and the Corporations Regulations11 Simpler citation of Corporations Law, and Corporations Regulations, of New South
Wales(1) The Corporations Law of New South
Wales may be referred to simply as the Corporations
Law.(2) The Corporations Regulations of New South
Regulations.(3) This section has effect subject to section
13.12 References to Corporations Law, and Corporations Regulations, of other
jurisdictions(1) This section has effect for the purposes of an Act, a law of New
South Wales or an instrument made under an Act or under such a
law.(2) Where a law of a jurisdiction other than New South Wales that
corresponds to section 7 of this Act provides that the Corporations Law set out in section
82 of the Corporations Act applies as law of that jurisdiction, the Corporations Law of that
jurisdiction is the Corporations
Law so set out, applying as law of that
jurisdiction.(3) Where a law of a jurisdiction other than New South Wales that
corresponds to section 8 of this Act provides that the regulations under
section 22 of the Corporations Act apply for the purposes of the Corporations Law of that
jurisdiction, the Corporations
Regulations of that jurisdiction are those regulations as so
applying.13 References to Corporations Law and Corporations Regulations(1) The object of this section is to help ensure that the
Corporations Law of New South Wales operates, so
far as possible, as if that Law, together with the Corporations Law of each
jurisdiction other than New South Wales, constituted a single national Corporations Law applying of its
own force throughout Australia.(2) Subject to this section, a reference in an instrument to the
Corporations Law, or to the
Corporations Regulations, is to
be taken, for the purposes of the laws of New South Wales:(a) to be a reference to the Corporations Law, or to the Corporations Regulations, of New South
(b) to include a separate reference to the Corporations Law, or to the Corporations Regulations, of each
jurisdiction other than New South Wales.
(3) Subsection (2) has effect except so far as the contrary intention
appears in the instrument, or the context of the reference otherwise
requires.(4) Without limiting subsection (3), subsection (2) does not apply in
relation to a reference expressed as a reference to the Corporations Law, or to the Corporations Regulations, of a
jurisdiction.(5) In this section:instrument means:(a) an Act or an instrument made under an Act, or
(b) a law of New South Wales or an instrument made under such a law,
(c) an award or other industrial determination or order, or an
industrial agreement, or
(d) any other order (whether executive, judicial or otherwise),
(g) an application made, information laid, affidavit sworn, or warrant
issued, for any purpose, or
(h) an indictment, presentment, summons or writ,
(i) any other pleading in, or process issued in connection with, a
legal or other proceeding, or
(j) any other document whatever.
Crown14 InterpretationTo avoid doubt, a reference in this Part to the Crown in a
particular right includes a reference to an instrumentality or agency (whether
a body corporate or not) of the Crown in that right.15 Corporations Law of New South
Wales(1) Chapter 5 (except Part 5.8) of the Corporations Law
of New South Wales binds the Crown not only in right of the
State of New South Wales but also, so far as the legislative power of the
Parliament permits, the Crown in right of the Commonwealth, of each of the
other States, of the Capital Territory, of the Northern Territory and of
Norfolk Island.(1A) Chapters 6, 6A, 6B, 6C and 6D of the Corporations
Law of New South Wales:(a) bind the Crown in right of the Commonwealth so far as the
legislative power of the Parliament permits, but
(b) do not bind the Crown in right of the State of New South Wales, of
any other State, of the Capital Territory, of the Northern Territory or of
(2) To avoid doubt, Chapter 7 of the Corporations Law of
New South Wales does not bind the Crown in right of the State
of New South Wales, of the Commonwealth, of any other State, of the Capital
Territory, of the Northern Territory or of Norfolk
Island.16 Corporations
Law of other jurisdictionsChapter 5 (except Part 5.8) of the Corporations Law of each
jurisdiction other than New South Wales binds the Crown in right of the State
of New South Wales.17 Crown not liable to prosecutionNothing in this Part, or in the Corporations Law, renders the Crown
in any right liable to be prosecuted for an offence.18 This Part overrides the prerogativeWhere, because of this Part, a provision of a law of another
jurisdiction binds the Crown in right of the State of New South Wales, the
Crown in that right is subject to that provision despite any prerogative right
or privilege.Part 5 Application orders19 Commonwealth Minister to obtain consent of State
MinisterDespite Part 1.3 of the Corporations Law of New
South Wales and section 20 of this Act, the Commonwealth
Minister may only make an order under section 111A of that Law, or that
section as applying because of section 20 of this Act, with the consent of the
Minister for this jurisdiction.20 Application orders for ASIC LawPart 1.3 of the Corporations Law of New South
Wales applies for the purposes of the ASIC Law
of New South Wales as if the provisions of the
ASIC Law of New South Wales were provisions of
the Corporations Law of New South
Wales.Part 6 21 (Repealed)Part 7 Imposition of fees and taxes22 Fees (including taxes) for chargeable mattersThis section imposes the fees (including fees that are taxes) that
the Corporations Regulations of New South
Wales prescribe.23 Contributions and levies for fidelity funds of securities
exchanges(1) This section imposes:(a) the contribution payable under section 902 (1) of the
Corporations Law of New South Wales by a person
who wishes to be admitted to membership of a securities exchange, or to a
partnership in a member firm recognised by a securities exchange,
(b) the annual contribution payable under section 902 (2) of that Law
by a member of a securities exchange, and
(c) any levy payable under section 904 of that Law by a member of a
(2) An expression has in subsection (1) the meaning it would have if
this section were in Part 7.9 of the Corporations Law of New
South Wales.24 Levies for National Guarantee FundThis section imposes any levy that is payable under section 938,
940 or 941 of the Corporations Law of New South
Wales.25 Contributions and levies for fidelity funds of futures
organisations(1) This section imposes:(a) the contribution payable under section 1234 (1) of the
who wishes to be admitted to membership of a futures organisation,
(b) the annual contribution payable under section 1234 (2) of that Law
by a contributing member of a futures organisation, and
(c) any levy payable under section 1235 of that Law by a contributing
member of a futures organisation.
this section were in Part 8.6 of the Corporations Law of New
South Wales.Part 8 National administration and enforcement of the Corporations LawDivision 1 Preliminary26 ObjectThe object of this Part is to help ensure that:(a) the Corporations Law of New South
Wales, and the Corporations
Law of each jurisdiction other than New South Wales, are
administered and enforced on a national basis, in the same way as if those
Laws constituted a single law of the Commonwealth, and
(b) the ASIC Law of New South Wales, and
the ASIC Law of each jurisdiction other than New
South Wales, are administered and enforced on a national basis, in the same
way as if those Laws constituted a single law of the
27 Effect of Part(1) This Part has effect subject to this Act (in particular Part 9),
the Corporations Law of New South Wales and the
ASIC Law of New South
Wales.(2) Nothing in this Part limits the generality of anything else in
it.Division 2 Offences against applicable provisions28 Object(1) The object of this Division is to further the object of this Part
by providing:(a) for an offence against an applicable provision of New South Wales
to be treated as if it were an offence against a law of the Commonwealth,
(b) for an offence against an applicable provision of another
jurisdiction to be treated in New South Wales as if it were an offence against
a law of the Commonwealth.
(2) The purposes for which an offence is to be treated as mentioned in
subsection (1) include, for example (but without limitation):(a) the investigation and prosecution of offences,
(b) the arrest, custody, bail, trial and conviction of offenders or
persons charged with offences, and
(c) proceedings relating to a matter referred to in paragraph (a) or
(d) appeals and review relating to criminal proceedings and to
proceedings of the kind referred to in paragraph (c), and
(e) the sentencing, punishment and release of persons convicted of
offences, and
(f) fines, penalties and forfeitures, and
(g) liability to make reparation in connection with offences,
(h) proceeds of crime, and
against applicable provisions(1) The Commonwealth laws apply as laws of New South Wales in relation
to an offence against the applicable provisions of New South Wales as if those
provisions were laws of the Commonwealth and were not laws of New South
Wales.(2) For the purposes of a law of New South Wales, an offence against
the applicable provisions of New South Wales:(a) is taken to be an offence against the laws of the Commonwealth, in
the same way as if those provisions were laws of the Commonwealth,
(b) is taken not to be an offence against the laws of New South
(3) Subsection (2) has effect for the purposes of a law of New South
Wales except as prescribed by regulations under section
80.30 Application of Commonwealth laws in relation to offences
against applicable provisions of other jurisdictions(1) The Commonwealth laws apply as laws of New South Wales in relation
to an offence against the applicable provisions of another jurisdiction as if
those provisions were laws of the Commonwealth and were not laws of that other
jurisdiction.(2) For the purposes of a law of New South Wales, an offence against
the applicable provisions of another jurisdiction:(a) is taken to be an offence against the laws of the Commonwealth, in
(b) is taken not to be an offence against the laws of that
80.(4) This section does not require, prohibit, empower, authorise or
otherwise provide for, the doing of an act outside New South
Wales.31 Functions and powers conferred on Commonwealth
authorities(1) A Commonwealth law applying because of section 29 that confers on
an officer or authority of the Commonwealth a function or power in relation to
an offence against the applicable provisions of the Capital Territory also
confers on the officer or authority the same function or power in relation to
an offence against the corresponding applicable provision of New South
Wales.(2) A Commonwealth law applying because of section 30 that confers on
an offence against an applicable provision of the Capital Territory also
an offence against the corresponding applicable provision of another
jurisdiction.(3) The function or power referred to in subsection (2) may only be
performed or exercised in New South Wales.(4) In performing a function or exercising a power conferred by
subsection (1) or (2), an officer or authority of the Commonwealth must act as
nearly as practicable as the officer or authority would act in performing or
exercising the same function or power in relation to an offence against the
corresponding applicable provision of the Capital
Territory.(5) A Commonwealth law applying because of section 29 or 30 applies as
if it did not contain any provision empowering a Minister of State for the
Commonwealth to give any directions in relation to the performance of a
function or the exercise of a power conferred by subsection (1) or
(2).32 Reference in Commonwealth law to a provision of another
lawA reference in a Commonwealth law to a provision of that or
another Commonwealth law is taken, for the purposes of section 29 or 30, to be
a reference to that provision as applying because of that
section.33 (Repealed)Division 3 Administrative law34 ObjectThe object of this Division is to further the object of this Part
by providing that the Commonwealth administrative laws:(a) apply to the applicable provisions of New South Wales,
(b) apply, in New South Wales, to the applicable provisions of another
as if the applicable provisions were those of the Capital
Territory.35 Application of Commonwealth administrative laws in
relation to applicable provisions(1) The Commonwealth administrative laws apply as laws of New South
Wales in relation to any act, matter or thing arising under or in respect of
the applicable provisions of New South Wales as if those provisions were laws
of the Commonwealth and were not laws of New South
Wales.(2) For the purposes of a law of New South Wales, an act, matter or
thing arising under or in respect of the applicable provisions of New South
Wales:(a) is taken to be an act, matter or thing arising under or in respect
of the laws of the Commonwealth, in the same way as if those provisions were
laws of the Commonwealth, and
(b) is taken not to be an act, matter or thing arising under or in
respect of the laws of New South Wales.
80.36 Application of Commonwealth administrative laws in
relation to applicable provisions of other jurisdictions(1) The Commonwealth administrative laws apply as laws of New South
the applicable provisions of another jurisdiction as if those provisions were
laws of the Commonwealth and were not laws of that
jurisdiction.(2) For the purposes of a law of New South Wales, an act, matter or
thing arising under or in respect of the applicable provisions of another
jurisdiction:(a) is taken to be an act, matter or thing arising under or in respect
respect of the laws of that jurisdiction.
otherwise provide for the doing of an act outside New South
Wales.36A Construction of references to Part IVA of Commonwealth
AAT ActFor the purposes of sections 35 and 36, a reference in a provision
of the Administrative Appeals Tribunal Act
1975 of the Commonwealth (as that provision applies as a law
of this jurisdiction) to the whole or any part of Part IVA of that Act is
taken to be a reference to the whole or any part of that Part as it has effect
as a law of the Commonwealth.37 Functions and powers conferred on Commonwealth
authorities(1) A Commonwealth administrative law applying because of section 35
that confers on an officer or authority of the Commonwealth a function or
power in relation to an act, matter or thing arising under or in respect of an
applicable provision of the Capital Territory also confers on the officer or
authority the same function or power in relation to an act, matter or thing
arising under or in respect of the corresponding applicable provision of New
South Wales.(2) A Commonwealth administrative law applying because of section 36
arising under or in respect of the corresponding applicable provision of
another jurisdiction.(3) The function or power referred to in subsection (2) may only be
exercising the same function or power in relation to an act, matter or thing
arising under or in respect of the corresponding applicable provision of the
Capital Territory.(5) A Commonwealth law applying because of section 35 or 36 applies as
(2).38 Reference in Commonwealth administrative law to a
provision of another lawA reference in a Commonwealth administrative law to a provision of
that or another Commonwealth administrative law is taken for the purposes of
section 35 or 36, to be a reference to that provision as applying because of
that section.39 (Repealed)Part 9 Jurisdiction and procedure of courtsDivision 1 Vesting and cross-vesting of civil
jurisdiction40 Operation of Division(1) This Division provides in relation to:(a) the jurisdiction of courts in respect of civil matters arising
under the Corporations Law of New South Wales,
(b) the jurisdiction of the courts of New South Wales in respect of
civil matters arising under the Corporations Law of another State
or the Capital Territory, and
(c) the jurisdiction of courts in respect of matters arising under the
1977 of the Commonwealth involving or related to decisions
made under the Corporations
Law of a State or the Capital Territory by Commonwealth
authorities and officers of the Commonwealth, and
(d) the jurisdiction of courts in civil matters in respect of
decisions made by officers of the Commonwealth to prosecute persons for
offences against the Corporations
Law of a State or the Capital Territory and related criminal
justice process decisions,
and so provides to the exclusion of the Jurisdiction of Courts (Cross-vesting) Act
1987.(2) Nothing in this Division affects any other jurisdiction of any
court.41 Interpretation(1) In this Division:civil
matter means a matter other than a criminal matter.Commonwealth
authority means an authority or body (whether incorporated or not)
that is established or continued in existence by or under an Act of the
Commonwealth.Corporations Law
has the extended meaning given by subsection (2).judgment means a judgment,
decree or order, whether final or interlocutory.lower
court means a court of a State or Territory that is not a superior
court.officer of the
Commonwealth has the same meaning as in section 75 (v) of the
Constitution.superior
court means the Supreme Court of a State or Territory or a State
Family Court.superior court
matter means a civil matter that the Corporations Law clearly intends
(for example, by use of the expression “the Court”) to be dealt
with only by a superior court.(2) In this Division:(a) a reference to the Corporations
Law of New South Wales includes a reference to:(i) the Corporations Regulations of New
(ii) the ASIC Law of New South Wales,
(iii) the ASIC Regulations of New South
(iv) any other applicable provisions (as defined in section 3) of New
(v) this Act, and
(vi) regulations made under this Act, and
(vii) rules of court made by the Supreme Court of New South Wales
because of a provision of this Act, and
(viii) (Repealed)
(ix) rules of court applied by the Supreme Court of another State, or
of the Capital Territory, or a State Family Court of another State, when
exercising jurisdiction conferred by this Division (including jurisdiction
conferred by virtue of any previous application or applications of this
subparagraph), and
(b) a reference to the Corporations
Law of another State or of the Capital Territory is a reference to
the Corporations Law of
that other State or of the Capital Territory within the meaning of the law of
that other State or the Capital Territory corresponding to this
Supreme Courts(1) Subject to section 9 of the Administrative Decisions (Judicial Review) Act
1977 of the Commonwealth, jurisdiction is conferred on the
Supreme Court of New South Wales and of each other State and the Capital
Territory with respect to civil matters arising under the
Corporations Law of New South
Wales.(1A) Despite section 9 of the Administrative
Decisions (Judicial Review) Act 1977 of the Commonwealth,
jurisdiction is conferred on the Supreme Court of New South Wales and of each
other State and the Capital Territory with respect to matters arising under
that Act involving or related to decisions made, or proposed to be made, under
the Corporations Law of a
State or the Capital Territory by a Commonwealth authority or an officer of
the Commonwealth.(1B) Subsection (1A) applies to a decision made, or proposed or
required to be made:(a) whether or not in the exercise of a discretion,
(b) whether before or after the commencement of Schedule 1 [11] to the
Federal Courts (Consequential Provisions)
(2) The jurisdiction conferred on a Supreme Court by subsection (1) or
(1A) is not limited by any limits to which any other jurisdiction of that
Supreme Court may be subject.(3) This section has effect subject to section
42AA.42A Jurisdiction of Family Court and State Family
Courts(1) (Repealed)(2) Subject to section 9 of the Administrative Decisions (Judicial Review) Act
1977 of the Commonwealth, jurisdiction is conferred on each
State Family Court with respect to civil matters arising under the
Wales.(3) The jurisdiction conferred on a State Family Court by subsection
(2) is not limited by any limits to which any other jurisdiction of the State
Family Court may be subject.(4) This section has effect subject to section
42AA.42AA Jurisdiction of Supreme Court in relation to certain
decisions made by Commonwealth officers(1) If a decision to prosecute a person for an offence against the
Corporations Law of New South Wales has been
made by an officer or officers of the Commonwealth and the prosecution is
proposed to be commenced in a court of New South Wales, jurisdiction is
conferred on the Supreme Court with respect to any matter in which a person
seeks a writ of mandamus or prohibition or an injunction against the officer
or officers in relation to that decision.(2) At any time when:(a) a prosecution for an offence against the
Corporations Law of New South Wales is before a
court of New South Wales, or
(b) an appeal arising out of such a prosecution is before a court of
jurisdiction is conferred on the Supreme Court with respect to any matter
in which the person who is or was the defendant in the prosecution seeks a
writ of mandamus or prohibition or an injunction against an officer or
officers of the Commonwealth in relation to a related criminal justice process
decision.(3) Subsections (1) and (2) have effect despite anything in this Act
or in any other law.(4) In this section:appeal includes an
application for a new trial and a proceeding to review or call in question the
proceedings, decision or jurisdiction of a court or judge.related
criminal justice process decision, in relation to an offence, means
a decision (other than a decision to prosecute) made in the criminal justice
process in relation to the offence, including:(a) a decision in connection with the investigation, committal for
trial or prosecution of the defendant, and
(b) a decision in connection with the appointment of investigators or
inspectors for the purposes of such an investigation, and
(c) a decision in connection with the issue of a warrant, including a
search warrant or a seizure warrant, and
(d) a decision requiring the production of documents, the giving of
information or the summoning of persons as witnesses, and
(e) a decision in connection with an appeal arising out of the
42B Jurisdiction of lower courts(1) Subject to section 9 of the Administrative Decisions (Judicial Review) Act
lower courts of New South Wales and of each other State and the Capital
Territory with respect to civil matters, other than superior court matters,
arising under the Corporations Law of New South
Wales.(2) The jurisdiction conferred on a lower court by subsection
(1):(a) is subject to the court’s general jurisdictional limits, so
far as they relate to the amounts, or the value of property, with which the
court may deal, but
(b) is not subject to the court’s other jurisdictional
43 Appeals(1) An appeal may not be instituted from a decision of a court of New
South Wales to a court of another State or of the Capital
Territory.(2), (3) (Repealed)(4) An appeal may not be instituted from a decision of a court (not
being a State Family Court) of another State to a State Family Court of that
State or to a court of a different State or of the Capital
Territory.(5) An appeal may not be instituted from a decision of a court of the
Capital Territory to a court of a State.(6) An appeal may not be instituted from a decision of a State Family
Court of a State to a court of the Capital Territory or of another State, or
(except in accordance with the law of the State under which the State Family
Court is constituted) to the Supreme Court of that
State.44 Transfer of proceedings(1) This section applies to the following:(a) a proceeding with respect to a civil matter arising under the
Corporations Law of New South Wales that is in a
court having jurisdiction under section 42 (1) or (2),
(b) a proceeding with respect to a matter referred to in section 42
(1A) that is in a court having jurisdiction under that subsection or in the
(2) Subject to subsections (3), (4) and (5), if it appears to the
court that, having regard to the interests of justice, it is more appropriate
for the proceeding, or an application in the proceeding, to be determined by
another court having jurisdiction in the matters for determination in the
proceeding or application, the first-mentioned court may transfer the
proceeding or application to that other court.(3) If a proceeding with respect to a matter referred to in section 42
(1A) is pending in the Supreme Court of a State or the Capital Territory (the
jurisdiction), the court must transfer the proceeding to the Federal
Court unless the matter for determination in it arises out of, or relates to,
another proceeding pending in any court of the relevant jurisdiction:(a) that arises, or a substantial part of which arises, under the
Corporations Law of a State
(b) that is not with respect to a matter referred to in section 42
regardless of which proceeding was commenced
first.(4) Even if the Supreme Court of a State or the Capital Territory is
not required by subsection (3) to transfer a proceeding with respect to a
matter referred to in section 42 (1A) to the Federal Court, it may
nevertheless do so if it considers that to be appropriate, having regard to
the interests of justice, including the desirability of related proceedings
being heard in the same jurisdiction.(5) If a proceeding with respect to a matter referred to in section 42
(1A) is pending in the Federal Court, the Federal Court may only transfer the
proceeding, or an application in the proceeding, to the Supreme Court of a
State or the Capital Territory (the relevant
jurisdiction) if:(a) the matter arises out of, or relates to, another proceeding
pending in any court of the relevant jurisdiction:(i) that arises, or a substantial part of which arises, under the
(ii) that is not a proceeding with respect to a matter referred to in
section 42 (1A),
regardless of which proceeding was commenced first,
(b) the Federal Court considers the transfer to be appropriate, having
regard to the interests of justice, including the desirability of related
proceedings being heard in the same jurisdiction.
(6) Nothing in this section confers on a court jurisdiction that the
court would not otherwise have.(7) The fact that some references in this section to the interests of
justice include the desirability of related proceedings being heard in the
same jurisdiction does not of itself mean that other references to the
interests of justice, in this section or elsewhere in this Act, do not include
that matter.44A Transfer of proceedings by Family Court and State Family
Courts(1) This section applies to a proceeding with respect to a civil
matter arising under the Corporations Law of New South
Wales in a State Family Court (in this section called the
first court)
having jurisdiction under section 42A.(2) If it appears to the first court that:(a) the proceeding arises out of, or is related to, another proceeding
pending in another court of a State or of the Capital Territory, and that the
court in which the other proceeding is pending is the most appropriate court
to determine the first-mentioned proceeding, or
(b) having regard to:(i) whether, in the first court’s opinion, apart from this
Division or a law of another State or the Capital Territory corresponding to
this Division, the proceeding, or a substantial part of it, would have been
incapable of being instituted in the first court, and
(ii) the extent to which, in the first court’s opinion, the
matters for determination in the proceeding are matters not within the first
court’s jurisdiction apart from this Division or such a law,
another court of a State or of the Capital Territory, is the most
appropriate court to determine the proceeding, or
(c) it is otherwise in the interests of justice that another court of
a State or of the Capital Territory determine the
the first court must transfer the proceeding to that other
court.(3) Subject to subsection (2), if it appears to the first court
that:(a) the proceeding arises out of, or is related to, another proceeding
pending in another State Family Court having jurisdiction under section 42A in
the matters for determination in the first-mentioned proceeding, and that the
other court is the most appropriate court to determine the first-mentioned
(b) it is otherwise in the interests of justice that the proceeding be
determined by another State Family Court having jurisdiction under section 42A
in the matters for determination in the proceeding,
the first court must transfer the proceeding to the other
court.(4) If:(a) the first court transfers the proceeding to another court,
(b) it appears to the first court that:(i) there is another proceeding pending in the first court that arises
out of, or is related to, the first-mentioned proceeding,
(ii) it is in the interests of justice that the other court also
determine the other proceeding,
the first court must also transfer the other proceeding to the other
court.(5) Nothing in this section confers on a court jurisdiction that the
court would not otherwise have.44AA Transfer of proceedings in lower courts(1) This section applies to a proceeding with respect to a civil
Wales in a lower court (the first court) having
jurisdiction under section 42B.(2) If it appears to the first court that, having regard to the
interests of justice, it is more appropriate for the proceeding, or an
application in the proceeding, to be determined by another court (the second court) having
jurisdiction in the matters for determination in the proceeding or
application, the first court may take action under whichever of subsections
(3) and (4) applies.(3) If the second court is also a lower court, the first court may
transfer the proceeding or application to the second
court.(4) If the second court is a superior court, the first court may
transfer the proceeding or application to the relevant Supreme Court and
recommend that the proceeding or application be transferred by the Supreme
Court to the second court.(5) The relevant Supreme Court is not bound to comply with a
recommendation under subsection (4) and it may instead decide:(a) to deal with the proceeding or application itself,
(b) to transfer the proceeding or application to some other court
(which could be the first court).
(6) Nothing in this section allows the relevant Supreme Court to
transfer the proceeding or application to another court otherwise than in
accordance with section 44 and the other requirements of this
Division.(6A) Nothing in this section confers on a court jurisdiction that the
court would not otherwise have.(7) In this section:relevant Supreme
Court means the Supreme Court of the State or Territory of which the
first court is a court.44B Further matters for a court to consider when deciding
whether to transfer a proceedingIn deciding whether to transfer under section 44, 44A or 44AA a
proceeding or application, a court must have regard to:(a) the principal place of business of any body corporate concerned in
the proceeding or application, and
(b) the place or places where the events that are the subject of the
proceeding or application took place, and
(c) the other courts that have jurisdiction to deal with the
proceeding or application.
44C Transfer may be made at any stageA court may transfer under section 44, 44A or 44AA a proceeding or
application:(a) on the application of a party made at any stage,
44D Transfer of documentsWhere, under section 44, 44A or 44AA, a court transfers a
proceeding, or an application in a proceeding, to another court:(a) the Registrar or other proper officer of the first-mentioned court
must transmit to the Registrar or other proper officer of the other court all
documents filed in the first-mentioned court in respect of the proceeding or
application, as the case may be, and
(b) the other court must proceed as if:(i) the proceeding had been originally instituted in the other court,
(ii) the same proceedings had been taken in the other court as were
taken in the first-mentioned court, and
(iii) in a case where an application is transferred—the
application had been made in the other court.
45 Conduct of proceedings(1) Subject to sections 51, 52 and 52A, where it appears to a court
that, in determining a matter for determination in a proceeding, the court
will, or will be likely to, be exercising relevant jurisdiction, the rules of
evidence and procedure to be applied in dealing with the matter are to be such
as the court considers appropriate in the circumstances, being rules that are
applied in a superior court in Australia or in an external
Territory.(2) Where a proceeding is transferred or removed to a court (in this
subsection called the transferee court)
from another court (in this subsection called the transferor court),
the transferee court must deal with the proceeding as if, subject to any order
of the transferee court, the steps that had been taken for the purposes of the
proceeding in the transferor court (including the making of an order), or
similar steps, had been taken in the transferee
court.(3) In this section:relevant
jurisdiction means:(a), (b) (Repealed)
(c) jurisdiction conferred on a court of New South Wales with respect
to civil matters arising under the Corporations Law of another State
or the Capital Territory, or
(d) jurisdiction conferred on a court of another State or the Capital
(e) jurisdiction conferred on a court of a State or the Capital
Territory with respect to matters referred to in section 42
46 Courts to act in aid of each otherAll courts having jurisdiction in civil matters arising under the
Corporations Law of New South Wales, or in
matters referred to in section 42 (1A) and the officers of, or under the
control of, those courts must severally act in aid of, and be auxiliary to,
each other in all such matters.47 Exercise of jurisdiction pursuant to cross-vesting
provisionsA court of New South Wales may:(a) exercise jurisdiction (whether original or appellate) conferred on
it by a law of another State or the Capital Territory corresponding to this
Division with respect to matters arising under the Corporations Law of that State or
(b) hear and determine a proceeding transferred to it under such a
48 Rights of appearanceA person who is entitled to practise as a barrister or a
solicitor, or as both a barrister and a solicitor, in a court has, if a
proceeding (in this subsection referred to as the transferred
proceeding) in that court is transferred to another court under this
Division or a law of another State or the Capital Territory that corresponds
to this Division, the same entitlements to practise in relation to:(a) the transferred proceeding, and
(b) any other proceeding out of which the transferred proceeding
arises or to which the transferred proceeding is related, being another
proceeding that is to be determined together with the transferred
in the other court that the person would have if the other court were a
federal court exercising federal jurisdiction.49 Limitation on appealsAn appeal does not lie from a decision of a court:(a) in relation to the transfer of a proceeding under this Division,
(b) as to which rules of evidence and procedure are to be applied
pursuant to section 45 (1).
50 Enforcement of judgments(1) A judgment of a court of New South Wales that is entirely or
partly given in the exercise of jurisdiction conferred by this Division, or by
a law of another State that corresponds to this Division, is enforceable in
New South Wales as if the judgment had been given by that court entirely in
the exercise of the jurisdiction of that court apart from this Division or any
such law.(2) Where:(a) a provision of a law of New South Wales (not being a law in
relation to the enforcement of judgments) refers to a thing done by the
Supreme Court of New South Wales or of another State or of the Capital
Territory, a State Family Court or a particular lower court of New South Wales
or of another State or of the Capital Territory, and
(b) that thing is done by another court in the exercise of
jurisdiction conferred by this Division or a law of another State or the
Capital Territory corresponding to this Division,
the reference in that provision to the Supreme Court of New South Wales
or of the other State or Territory, that State Family Court or that lower
court, as the case may be, is taken as a reference to that other
court.51 Rules of the Supreme Court(1) Rules of court, not inconsistent with the
Corporations Law of New South Wales, may be made
1970:(a) with respect to proceedings, and the practice and procedure, of
that Court under that Law, and
(b) with respect to any matter or thing that is:(i) required or permitted by that Law to be prescribed by rules within
the meaning of that Law, or
(ii) necessary or convenient to be prescribed by such rules for
carrying out or giving effect to that Law, and
(c) without limitation, with respect to costs, and with respect to
rules as to meetings ordered by that Court.
This subsection does not limit the rule-making powers conferred by
1970.(1A) When a lower court of New South Wales is exercising jurisdiction
with respect to matters arising under the Corporations Law of
New South Wales, the court must apply the rules of court made
under subsection (1), with such alterations as are
necessary.(2) When a court of New South Wales is exercising jurisdiction with
respect to matters arising under the Corporations Law of another State
or the Capital Territory, being jurisdiction conferred by a law of another
State or the Capital Territory that corresponds to this Division, that court
must apply the rules of court made under subsection (1), with such alterations
as are necessary.(3) When a court of another State or the Capital Territory is
exercising jurisdiction with respect to matters arising under the
Corporations Law of New South Wales, being
jurisdiction conferred by this Division, that court must apply the rules of
court made under the law of the State or Territory corresponding to subsection
(1), with such alterations as are necessary.(4) In this section:Corporations
Law of another State or the Capital Territory does not include rules
of court.Corporations
Law of New South Wales does not include rules of
court.52 (Repealed)52A Rules of a State Family Court(1) (Repealed)(2) When a State Family Court of another State is exercising
jurisdiction with respect to matters arising under the
court made under the law of the State corresponding to section 61A (1) of the
Corporations Act, with such alterations as are
necessary.(3) In this section:Corporations
court.Division 2 Vesting and cross-vesting of criminal
jurisdiction53 Operation of DivisionThis Division provides in relation to:(a) the jurisdiction of courts in respect of criminal matters arising
criminal matters arising under the Corporations Law of any
54 Interpretation(1) In this Division:magistrate means a
magistrate who is remunerated by salary or otherwise.(2) In this Division:(a) a reference to the Corporations
(vii) rules of court made by the Supreme Court of New South Wales and
rules of court applied by the Supreme Court of another State, or of the
Capital Territory, when exercising jurisdiction conferred by this Division
(including jurisdiction conferred by virtue of any previous application or
applications of this subparagraph), and
55 Jurisdiction of courts(1) Subject to this section, the several courts of each State and the
Capital Territory exercising jurisdiction:(a) with respect to:(i) the summary conviction, or
(ii) the examination and commitment for trial on indictment,
(iii) the trial and conviction on indictment,
of offenders or persons charged with offences against the laws of the
State or Capital Territory, and with respect to:(iv) their sentencing, punishment and release, or
(v) their liability to make reparation in connection with their
(vi) the forfeiture of property in connection with their offences,
(vii) the proceeds of their crimes, and
(b) with respect to the hearing and determination of:(i) proceedings connected with, or
(ii) appeals arising out of, or
(iii) appeals arising out of proceedings connected
any such trial or conviction or any matter of a kind referred to in
paragraph (a) (iv), (v), (vi) or (vii),
have the equivalent jurisdiction with respect to offenders or persons
charged with offences against the Corporations Law of New South
Wales.(2) Where a provision of a law of another State or the Capital
Territory corresponding to subsection (1) is expressed to confer jurisdiction
with respect to offenders or persons who are charged with offences against the
Corporations Law of that
State or the Capital Territory upon a court of New South Wales, the court may
exercise that jurisdiction.(3) The jurisdiction conferred by subsection (1) is not to be
exercised with respect to the summary conviction, or examination and
commitment for trial, of any person except by a
magistrate.(4) The jurisdiction conferred by subsection (1) includes jurisdiction
in accordance with provisions of a relevant law of another State or the
Capital Territory, and:(a) the reference in subsection (1) (b) to “any such trial or
conviction” includes a reference to any conviction or sentencing in
accordance with the provisions of a relevant law, and
(b) unless the contrary intention appears, a reference to jurisdiction
conferred by subsection (1) includes a reference to such included
(5) A person may be dealt with in accordance with a relevant law even
if, apart from this section, the offence concerned:(a) would be required to be prosecuted on indictment,
(b) would be required to be prosecuted either summarily or on
(6) For the purposes of the application of a relevant law as provided
by subsection (4):(a) a reference in that law to an indictable offence is taken to
include a reference to an offence that may be prosecuted on indictment,
(b) in order to determine the sentence that may be imposed on a person
by a court pursuant to the relevant law, the person is taken to have been
prosecuted and convicted on indictment in that
(7) Subject to subsections (9) and (10), the jurisdiction conferred on
a court of a State or the Capital Territory by subsection (1) is conferred
despite any limits as to locality of the jurisdiction of that court under the
law of that State or of the Capital Territory.(8) Subject to subsection (9), the jurisdiction conferred on a court
of New South Wales by a law of another State or the Capital Territory
corresponding to subsection (1) may be exercised despite any limits as to
locality of the jurisdiction of that court under the law of New South
Wales.(9) Where:(a) jurisdiction is conferred on a court of New South Wales in
relation to the summary conviction of persons charged with offences against
this or another jurisdiction by subsection (1) or a corresponding provision of
a law of another State or of the Capital Territory, and
(b) the court is satisfied that it is appropriate to do so, having
regard to all the circumstances including the public
the court may decline to exercise that jurisdiction in relation to an
offence committed in another State or the Capital
Territory.(10) The jurisdiction conferred on a court of another State or the
Capital Territory by subsection (1) in relation to:(a) the examination and commitment for trial on indictment,
(b) the trial and conviction on indictment,
of offenders or persons charged with offences against the
Corporations Law of New South Wales is conferred
only in relation to:(c) offences committed outside Australia, and
(d) offences committed, begun or completed within the State or
(11) In this section:Australia does not
include the coastal sea.relevant
law means a law providing that where, in proceedings before a court,
a person pleads guilty to a charge for which he or she could be prosecuted on
indictment, the person may be committed, to a court having jurisdiction to try
offences on indictment, to be sentenced or otherwise dealt with without being
tried in that last-mentioned court.56 Laws to be applied(1) Subject to this Division, the laws of New South Wales
respecting:(a) the arrest and custody in New South Wales of offenders or persons
charged with offences, and
(b) criminal procedure in New South Wales in relation to such
apply in New South Wales, so far as they are applicable, to persons who
are charged with offences against the Corporations Law of New South Wales
or of another State or the Capital Territory in respect of whom jurisdiction
is conferred on a court of New South Wales by this Division or a corresponding
law of another State or the Capital Territory.(2) Subject to this Division, the laws of each other State and the
Capital Territory respecting:(a) the arrest and custody in that State or Territory of offenders or
(b) criminal procedure in that State or Territory in relation to such
apply in that State or Territory, so far as they are applicable, to
persons who are charged with offences against the Corporations
Law of New South Wales in respect of whom jurisdiction is
conferred on a court of that State or Territory by this
Division.(3) The application of laws by subsections (1) and (2) is in addition
to, and not in derogation from, the application of laws effected by Part 8 or
the corresponding law of another State or the Capital
Territory.(4) In this section:criminal
procedure means the procedure for:(a) the summary conviction, and
(b) the examination and commitment for trial and indictment,
(c) the trial and conviction on indictment, and
(d) the hearing and determination of appeals arising out of any such
trial or conviction or out of any related
of offenders or persons charged with offences, and includes the procedure
for holding accused persons to bail.laws
of each other State and the Capital Territory means the laws that
apply in relation to offenders, or persons charged with offences, against the
Corporations Law of the
State or Territory concerned.Part 10 Companies Liquidation Account57 Companies Liquidation Account(1) In this section:relevant
money means:(a) money that, immediately before the commencement of this section,
stood to the credit of the Companies Liquidation Account established by
section 428 of the Companies (New South Wales)
(b) money that, after the commencement of this section, is paid into
the Companies Liquidation Account under provisions of the
Companies (New South Wales) Code that are taken
to continue in force after the commencement of Chapter 5 of the Corporations Law for the purposes
of windings up started before the commencement of that
(2) Relevant money is to be dealt with in accordance with section 427
of the Companies (New South Wales)
Code.Part 11 The ASIC Law, and the
WalesDivision 1 Application of ASIC Act and ASIC Regulations58 Application in New South Wales of the ASIC Act(1) The ASIC Act as in force immediately before its repeal, other than
the excluded provisions:(a) applies as a law of New South Wales, and
(b) as so applying, may be referred to as the ASIC Law
(2) The excluded provisions of the ASIC Act are:Part 1, except section 6APart 2Section 88Divisions 1 and 4 of Part 4Part 5Part 6Division 1 of Part 7Part 8Part 9Division 1 of Part 10Division 1 of Part 11Part 12Part 14Sections 251 and 25259 Application of regulationsThe regulations in force, immediately before the repeal of the
ASIC Act, under section 251 of that Act:(a) apply as regulations in force for the purposes of the
ASIC Law of New South Wales,
(b) as so applying, may be referred to as the ASIC Regulations of New South
ASIC Law, and the ASIC Regulations, of New South
Wales(1) In this Part, and in the ASIC Law,
and the ASIC Regulations, of
New South Wales:Advisory
Committee means the Companies and Securities Advisory Committee
established by section 145 of the ASIC Act.affairs, in relation to a
body corporate, has the same meaning as in section 246AA of the Corporations Law.assist, in relation to a
Commission delegate, means:(a) to perform functions:(i) as a member, officer or employee of the Commission delegate,
(ii) in connection with the Commission delegate’s performance or
exercise of a function or power delegated under section 102 of the
ASIC Law, or
(b) to perform services for the Commission delegate in connection with
the Commission delegate’s performance or exercise of a function or power
delegated under section 102 of the ASIC
Australia includes any
external Territory to which the ASIC Act extends.books
includes:(a) a register, and
(b) financial reports or financial records, however compiled, recorded
or stored, and
(c) a document, and
(d) banker’s books, and
means:(a) except in Part 11 of the ASIC Law or
in relation to the Disciplinary Board—the Chairperson of the Commission,
(b) in Part 11 of that Law or in relation to the Disciplinary
Board—the Chairperson of the Disciplinary
Commission means the
Australian Securities and Investments Commission established by section 7 of
the ASIC Act.Commission
delegate means a person to whom, or a body to which, a function or
power is delegated under section 102 of the ASIC
Law.contravention, in
relation to a law, includes an ancillary offence relating to an offence
against that law.court,
except in section 248 of the ASIC Law, includes
a tribunal having power to require the production of documents or the
answering of questions.Deputy
Chairperson means the Deputy Chairperson of the
Commission.Disciplinary
Board means the Companies Auditors and Liquidators Disciplinary
Board established by section 202 of the ASIC Act.eligible
person, in relation to a person, means a person who:(a) if the first-mentioned person is a body corporate—is or has
been an officer of the body within the meaning of a national scheme law or a
corresponding previous law, or
(b) in any case:(i) is or has been an employee, agent, banker, solicitor or auditor
(ii) is acting, or has acted, in any other capacity on behalf
means:(a) in this section and Part 3 (other than section 27 (2) and Division
9) of the ASIC Law—an examination of a
person pursuant to a requirement made under section 19 of that Law,
(b) in section 27 (2) and Division 9 of Part 3 of the
ASIC Law—an examination of a person
pursuant to a requirement made under section 19 of the ASIC
Law or a corresponding provision of the ASIC
Law of another jurisdiction.
expenses, in relation to
an investigation under Division 1 of Part 3 of the ASIC
Law, includes costs and expenses incurred in relation to a
proceeding begun under section 50 of the ASIC
Law as a result of the investigation.fail
means refuse or fail.foreign
country means:(a) an external Territory to which the ASIC Act does not extend,
(b) a country outside Australia and the external Territories,
has:(a) in relation to a document—a meaning affected by section 86
of the ASIC Law, and
(b) in relation to information—a meaning affected by section 61
hearing, in this section
and Part 3 of the ASIC Law, means a hearing
before the Commission and, in sections 52, 54, 55 and 56 of that Law, includes
a part of such a hearing.information has a
meaning affected by section 61 of this Act.investigate, in
relation to the Commission, means investigate in the course of performing or
exercising any of the Commission’s functions and powers.meeting means:(a) in Part 4 of the ASIC Law—a
meeting of the Commission, and
(b) in Part 11 of that Law—a meeting of the Disciplinary
member means:(a) except in Division 2 of Part 4, or in Part 10, 11, or 14, of the
ASIC Law, or in relation to a Division of the
Commission, or in relation to the Panel or the Disciplinary Board—a
(b) in Part 10 of that Law or in relation to the Panel—a member
of the Panel,
(c) in Part 11 of that Law or in relation to the Disciplinary
Board—the Chairperson or any other member of the Disciplinary
law means:(a) the following:(i) the Corporations
Law of this jurisdiction,
(ii) the ASIC Law of this
(iii) this Act, or
(b) the following:(i) the Corporations Act,
(ii) the Corporations Law of
the Capital Territory,
(iii) the ASIC Act, or
(c) a law of a jurisdiction (other than this jurisdiction or the
Capital Territory) that corresponds to an Act or Law referred to in paragraph
scheme law of this jurisdiction means:(a) this Act, or
officer, in relation to a
body corporate, includes:(a) a director, secretary, executive officer or employee of the
(b) a receiver, or a receiver and manager, of property of the
(c) an administrator of the body or an administrator of a deed of
company arrangement executed by the body,
(d) a liquidator, or a provisional liquidator, of the body,
(e) a trustee or other person administering a compromise or
arrangement made between the body and any other person or
means the Corporations and Securities Panel established by section 171 of the
ASIC Act.Panel
proceedings means proceedings before the Panel on:(a) an application made to the Panel under the Corporations Law,
(b) a reference of a decision to the Panel for review under the
includes an authority.prescribed means
prescribed by the ASIC Law or the
regulations.President means the
President of the Panel.proceeding
means:(a) a proceeding in a court, or
(b) a proceeding or hearing before, or an examination by or before, a
whether the proceeding, hearing or examination is of a civil,
administrative, criminal, disciplinary or other nature.produce, except in Part 3
of the ASIC Law, includes permit access
to.property means any legal
or equitable estate or interest (whether present or future and whether vested
or contingent) in real or personal property of any description and includes a
thing in action and money.record, in relation to an
examination, means the whole or a part of a record made under section 24 of
the ASIC Law of statements made at the
examination.regulations means the
ASIC Regulations of this
jurisdiction.report includes an interim
report.staff
member means:(a) a member of the staff referred to in section 120 (1) of the ASIC
Act or a person employed under section 120 (3) of that
(b) a person engaged under section 121 (1) of that Act,
(c) any of the officers, employees and persons who under section 122
of that Act are to assist the Commission.
statement, in relation
to an examination, includes a question asked, an answer given, and any other
comment or remark made, at the examination.Territory means:(a) the Capital Territory, or
(b) an external Territory to which the ASIC Act
Act, except in this Part, means the ASIC
Law, and includes the regulations.this
jurisdiction means New South Wales.this
Law includes the regulations.tribunal means:(a) a tribunal in Australia, or
(b) any other body, authority or person in Australia having power, by
law or by consent of parties, to hear, receive or examine
witness means:(a) in relation to a hearing before the Commission—a person
appearing at the hearing to give evidence, or
(b) in relation to Panel proceedings—a person appearing in the
proceedings to give evidence.
record, in relation to an examination, means:(a) a record of the examination:(i) that is made in writing, or
(ii) as reduced to writing, or
(2) Subject to the ASIC Law of this
jurisdiction, an expression has the same meaning in that Law and in the
jurisdiction as in the Corporations
Law of this jurisdiction.61 Giving informationA reference in the ASIC Law, and the
Wales to giving information includes a reference to:(a) explaining or stating a matter, or
(b) identifying a person, matter or thing, or
(c) disclosing information, or
62 Interpretation law(1) Except so far as the contrary intention appears in the
ASIC Law of New South Wales:(a) Part 1.2 (except section 8) of the Corporations Law
of New South Wales applies, and
(b) subject to paragraph (a), the Acts
commencement of section 5 (5) of the ASIC Act applies as law of New South
in relation to the ASIC Law, and the
Wales and any instrument made, granted or issued under that Law or those
Regulations (other than application orders made for the purposes of that Law
under section 111A of the Corporations
Law of this jurisdiction) and so apply as if that Law were an
1987 does not apply in relation to the ASIC
Law, or the ASIC
Regulations, of New South Wales or an application order or any
other instrument made, granted or issued under that Law or those
Regulations.Division 2 Citing the ASIC Law
Regulations63 Alternative citations of the ASIC
Law, and the ASIC
Regulations, of New South Wales(1) The ASIC Law of New South Wales may
be referred to simply as the ASIC
Law.(2) The ASIC Regulations of New South
Wales may be referred to simply as the ASIC
65.64 References to ASIC Law, and
ASIC Regulations, of another
jurisdiction(1) This section has effect for the purposes of an Act, a law of New
law.(2) Where a law of a jurisdiction other than New South Wales contains
provisions corresponding to sections 5 and 6 of the Corporations Act and also
provides for provisions of the ASIC Act to apply as law of that jurisdiction,
those provisions of the ASIC Act, as so applying, are the ASIC
Law of that jurisdiction.(3) Where a law of a jurisdiction other than New South Wales provides
for the regulations under section 251 of the ASIC Act to apply for the
purposes of the ASIC Law of that jurisdiction,
those regulations as so applying are the ASIC
Regulations of that jurisdiction.65 References to ASIC Law and
ASIC Regulations(1) The object of this section is to help ensure that, so far as
possible:(a) the bodies established by the ASIC Act and the staff of those
bodies, can perform functions and exercise powers, and
(b) persons can have dealings with those
as if the ASIC Act, the ASIC Law of New South
Wales and the ASIC Law of each
other State, constituted a single national ASIC
Law applying of its own force throughout
Australia.(2) Subject to this section, a reference in an instrument to the
ASIC Law, or to the ASIC Regulations, is to be taken, for
the purposes of the laws of New South Wales:(a) to be a reference to the ASIC Law,
or to the ASIC Regulations, of
(b) to include a separate reference to the ASIC
Law, or to the ASIC
Regulations, of each jurisdiction other than New South
relation to a reference expressed as a reference to the ASIC
Regulations, of a jurisdiction.(5) In this section:instrument
means:(a) an Act or an instrument made under an Act, or
Division 3 The Commission66 Conferral of functions and powers on Commission(1) The Commission has the functions and powers conferred or expressed
to be conferred on it under a national scheme law of this
jurisdiction.(2) The Commission also has the functions and powers conferred or
expressed to be conferred upon the NCSC by or under a Code that is a relevant
Code for the purposes of the Companies and Securities
(Interpretation and Miscellaneous Provisions) (New South Wales)
Code.(3) The Commission also has the functions and powers conferred or
expressed to be conferred on it under the Government Insurance Office (Privatisation) Act
1991.67 (Repealed)68 Conferral of other functions and powers for purposes of
law in New South WalesThe Commission has power to do acts in New South Wales in the
performance or exercise of any function or power:(a) expressed to be conferred on the Commission by a national scheme
law of another jurisdiction, or
69 (Repealed)Division 4 The Panel70 Conferral of functions and powers on the Panel(1) The Panel has the functions and powers conferred on it by or under
a national scheme law of this jurisdiction.(2) The Panel has power to do acts in New South Wales in the
performance or exercise of any function or power expressed to be conferred on
the Panel by a national scheme law of another
jurisdiction.Division 5 The Disciplinary Board71 Conferral of functions and powers on the Disciplinary
Board(1) The Disciplinary Board has the functions and powers conferred on
it by or under a national scheme law of this
jurisdiction.(2) The Disciplinary Board has power to do acts in New South Wales in
the performance or exercise of any function or power expressed to be conferred
on it by a national scheme law of another
jurisdiction.Division 6 Miscellaneous72 Acting appointmentsWhere a person is appointed under the ASIC Act to act in a
particular office, the law of this jurisdiction applies in relation to that
person while acting in that office as if the person were the holder of the
office.73 Alteration of names and constitutions(1) Where:(a) the name of a body established by the ASIC Act is changed by law
(whether or not the body is incorporated), or
(b) the name of an office established by that Act is changed by
then, unless the contrary intention appears, a reference in:(c) any Act of this jurisdiction, or
(d) any instrument under such an Act, or
(e) any award or other industrial determination or order or any
(f) any other order (whether executive, judicial or otherwise),
(g) any contract, or
(h) any pleading in, or process issued in connection with, any legal
(i) any other instrument,
to the body or the office under the former name, except in relation to
matters that occurred before that change took place, is taken as a reference
to the body or the office under the new name.(2) Where the constitution of a body established by the ASIC Act is
changed by law (whether or not the body is incorporated), then, unless the
contrary intention appears, the alteration does not affect any functions or
powers conferred or expressed to be conferred on that body by a national
scheme law of this jurisdiction.74 Application of Commonwealth Crimes Act(1) For the purposes of Part 3 of the ASIC Law of New
South Wales, Part III of the Crimes
Act 1914 of the Commonwealth applies as a law of New South
Wales.(2) For the purposes of Part III of the Crimes Act 1914 of the Commonwealth as
applying because of subsection (1), an examination or a hearing is a judicial
proceeding.(3) For the purposes of a national scheme law of New South
Wales:(a) an offence under Part III of the Crimes
Act 1914 of the Commonwealth as applying because of subsection
(1) in relation to an examination or hearing, is taken to be an offence
against Part 3 of the ASIC Law of New South
(b) an offence under Part III of the Crimes
Act 1914 of the Commonwealth as applying, in relation to an
examination or hearing held under the ASIC Law
of another jurisdiction, as a law of that jurisdiction is taken to be an
offence against Part 3 of the ASIC Law of that
75 Application of Commonwealth Evidence Act(1) For the purposes of Part 3 of the ASIC Law of New
South Wales, the following provisions of the Evidence Act 1995 of the Commonwealth apply
as a law of New South Wales:Part 2.2 (Documents)Section 69 (Exception: business records)Section 70 (Exception: contents of tags, labels and
writing)Section 71 (Exception: telecommunications)Section 147 (Documents produced by processes, machines and other
devices in the course of business)Division 2 (Proof of certain matters by affidavits or written
statements) of Part 4.6.(2) Those provisions of the Evidence Act
1995 of the Commonwealth apply to an examination in the same
way as they apply to a proceeding to which that Act applies under section 4 of
that Act.Part 12 GeneralDivision 1 Arrangements76 DefinitionIn this Division:relevant
State law means:(a) a law of the State concerning the management or affairs of a body
(b) a law of the State concerning fraud or dishonesty,
(c) any other law of the State,
other than a co-operative scheme law.77 Arrangements relating to applicable provisions(1) Where an arrangement between the Attorney General and the
Commonwealth Minister provides:(a) that an authority or officer of the Commonwealth has certain
functions or powers under a relevant State law, or
(b) that, despite section 33 or 39, an authority or officer of the
State has certain functions or powers under an applicable provision of this
those functions or powers are conferred on that authority or
officer.(2) Functions and powers conferred under an arrangement under
subsection (1) are to be performed and exercised in accordance with the
arrangement but are to be taken to have been validly performed or exercised
despite any failure to comply with any condition or restriction under the
arrangement.(3) Such an arrangement may not be entered into without the
concurrence of the Premier.78 Notice of arrangementNotice of each arrangement under section 77 must be published in
the Government Gazette and in the Commonwealth of Australia Gazette within 21
days after it is made.Division 2 Penalties and fines79 Application of penalties and finesAll fines, penalties and other money (other than fees and taxes)
which, under and by virtue of the applicable provisions of New South Wales,
are authorised or directed to be imposed on any person must be paid to the
Commonwealth.Division 3 Regulations80 Regulations(1) The Governor may make regulations, not inconsistent with the
national scheme laws of this jurisdiction, for or with respect to any matter
that is required or permitted by this Act to be prescribed or that is
this Act.(2) The regulations may contain provisions of a savings or
transitional nature consequent on the enactment of this Act, being provisions
not inconsistent with the national scheme laws of this
jurisdiction.(3) Any such provision may, if the regulations so provide, take effect
on the date of commencement of this section or a later
that is earlier than the date of its publication in the Government Gazette,
the provision does not operate so as:(a) to affect, in a manner prejudicial to any person (other than the
(b) to impose a liability on any person (other than the State or an
(5) Regulations containing provisions of a kind referred to in
subsection (2) cease to have effect on the first anniversary of the day on
which this section commences.(6) Where regulations cease to have effect because of subsection (5),
applies as if the regulations had been disallowed by the
Parliament.Part 13 TransitionalDivision 1 Staff81 Information previously acquiredA staff member who, before the commencement of this section, was
an officer or employee of the Public Service of New South Wales engaged in the
administration of a co-operative scheme law may disclose to the Commission
information acquired while so engaged.82, 83 (Repealed)Division 2 Co-operative scheme laws84 Co-operative scheme lawsFor the purposes of this Act, the following are the co-operative
scheme laws:Companies (Application of Laws)
Act 1981Companies (New South Wales)
CodeCompanies (Acquisition of
Shares) (Application of Laws) Act 1981Companies (Acquisition of Shares) (New South Wales)
CodeCompanies and Securities
(Interpretation and Miscellaneous Provisions) (Application of Laws) Act
1981Companies and Securities (Interpretation and
Miscellaneous Provisions) (New South Wales)
CodeSecurities Industry (Application
of Laws) Act 1981Securities Industry (New South Wales)
CodeFutures Industry (Application of
Laws) Act 1986Futures Industry (New South Wales)
Code85 National scheme laws prevail over co-operative scheme
laws(1) This section provides for the national scheme laws of this
jurisdiction to supersede the co-operative scheme laws, which are to continue
to operate of their own force only in relation to:(a) matters arising before the commencement of this section,
(b) matters arising, directly or indirectly, out of such
in so far as the national scheme laws or the Corporations legislation do
not deal with those matters.(2) Where a co-operative scheme law is inconsistent with a national
scheme law of this jurisdiction, the national scheme law prevails and, to the
extent of the inconsistency, the co-operative scheme law does not
operate.(3) For the purposes of subsection (2), a co-operative scheme law is
inconsistent with a national scheme law if it would be inconsistent within the
meaning of section 109 of the Constitution of the Commonwealth of Australia if
the national scheme law were an Act of the
Commonwealth.(4) In this section:Corporations
Commonwealth applies.86 Regulations may exclude residual operation of co-operative
scheme laws(1) Regulations under section 80 may provide that prescribed
provisions of co-operative scheme laws do not operate, either generally or as
otherwise prescribed by the regulations.(2) Regulations in force because of subsection (1) have effect
accordingly.87 Effect of sections 85 and 86(1) To the extent that a co-operative scheme law ceases to operate
because of section 85 or 86, the law is taken for the purposes of the Interpretation Act 1987 to have been
repealed by this Act.(2) Nothing in this Act revives, or otherwise affects the exclusion
of, the provisions referred to in section 18 (1) of the Companies (Application of Laws) Act
1981 or section 16 (1) of the Securities Industry (Application of Laws) Act
1981.(3) The amendment of the Companies
(Application of Laws) Act 1981 by Schedule 2.1 to the Corporations (Ancillary Provisions) Act
2001 does not revive, or otherwise affect the exclusion of,
the provisions referred to in section 18 (1) of the Companies (Application of Laws) Act
1981.(4) The amendment of the Securities
Industry (Application of Laws) Act 1981 by Schedule 2.5 to the
the provisions referred to in section 16 (1) of the Securities Industry (Application of Laws) Act
1981.88 Regulations may modify co-operative scheme laws(1) Regulations under section 80 may provide that a specified
co-operative scheme law, or specified provisions of a co-operative scheme law,
has or have effect with such modifications as the regulations
prescribe.(2) Regulations in force because of subsection (1) have effect
accordingly, even if, because of section 85 or 86, the specified law does not
operate of its own force, or the specified provisions do not operate of their
own force, as the case requires.(3) However, a reference in section 85 (2) to a co-operative scheme
law includes a reference to such a law as it has effect, or to provisions of
such a law as they have effect, because of this
section.89 Co-operative scheme laws not affected by certain
Commonwealth regulationsThe operation or effect of a co-operative scheme law is not
modified or otherwise affected because regulations of a kind referred to in
section 77 or 79 of the Corporations Act modify or otherwise affect the
operation of a Co-operative Scheme Act within the meaning of Part 12 of the
Corporations Act.90 References to co-operative scheme laws and
regulations(1) In this section:Code
regulations means provisions applying as regulations made under a
Code by reason of a provision of an Act that is a co-operative scheme
law.instrument has the same
meaning as in section 13, but does not include:(a) a co-operative scheme law, or
(b) regulations under an Act that is such a law, or under this Act,
(c) Code regulations, or
(d) a national scheme law of this jurisdiction, or the Corporations Regulations, or ASIC Regulations, of New South
(2) Subject to subsection (4) and to any regulations in force under
subsection (7), a reference in an instrument to a co-operative scheme law is
to be taken to include a reference to such provisions of the national scheme
laws of this jurisdiction as correspond to provisions of the co-operative
scheme law.(3) Subject to subsection (4) and to any regulations in force under
subsection (7), a reference in an instrument to Code regulations is to be
taken to include a reference to such provisions of the Corporations Regulations, or ASIC Regulations, of New South Wales as
correspond to provisions of the Code regulations.(4) Subject to any regulations in force under subsection (7), a
reference in an instrument to a provision of a co-operative scheme law or of
Code regulations is to be taken to include a reference to the corresponding
provision of a national scheme law of this jurisdiction or of the Corporations Regulations, or ASIC Regulations, of New South Wales,
as the case may be.(5) Subject to any regulations in force under subsection (7), a
reference in an instrument to the NCSC is to be taken to include a reference
to the Commission.(6) Regulations under section 80 may declare that, for the purposes of
this section:(a) prescribed provisions of national scheme laws of this jurisdiction
correspond to prescribed provisions of co-operative scheme laws,
(b) prescribed provisions of the Corporations Regulations, or ASIC Regulations, correspond to
prescribed provisions of Code regulations.
(7) Regulations under section 80:(a) may declare that subsection (2), (3), (4) or (5) of this section
does not apply in relation to prescribed references in prescribed instruments,
(b) may declare that subsection (2), (3), (4) or (5) of this section
has effect in relation to prescribed references in prescribed instruments as
if, in the subsection, the words “be taken to be” were substituted
for the words “be taken to include”.
(8) Regulations in force because of subsection (6) or (7) have effect
accordingly.91 Conferral of functions and powers in relation to
co-operative scheme laws(1) The Commonwealth Director of Public Prosecutions:(a) has the same enforcement powers in relation to the co-operative
scheme laws as has the Director of Public Prosecutions of New South Wales,
(b) may, in relation to an offence against a co-operative scheme law,
perform the functions and exercise the powers conferred on the Director of
Public Prosecutions by the Director of Public
Prosecutions Act 1983 of the Commonwealth in relation to
offences against the laws of the Commonwealth as if the offence against the
co-operative scheme law were an offence against a national scheme law of this
(2) The Australian Federal Police:(a) have the same enforcement powers in relation to the co-operative
scheme laws as has the Police Service of New South Wales,
perform the functions and exercise the powers conferred on the Australian
Federal Police in relation to offences against the laws of the Commonwealth as
if the offence against the co-operative scheme law were an offence against a
national scheme law of this jurisdiction.
(3) The Commonwealth Minister has, in respect of the prosecution of
offences against the co-operative scheme laws, the same functions and powers
as he or she has in respect of the prosecution of offences against a national
scheme law of this jurisdiction.(4) For the purposes of the exercise of enforcement powers, and other
functions and powers conferred by this section, including the obtaining of
warrants to arrest, an offence against a co-operative scheme law is taken to
be an offence against a national scheme law of this
jurisdiction.(5) In this section, enforcement
power means a function or power relating to:(a) the investigation of an offence, or
(b) the arrest and custody of persons charged with an offence,
(c) the institution and carrying on of a prosecution of an offence,
(d) matters relating to such an investigation, arrest, custody or
State authorities and officers(1) Where an arrangement between the Attorney General and the
Commonwealth Minister makes provision in relation to the exercise by a State
authority or officer of enforcement powers within the meaning of section 91 in
relation to the co-operative scheme laws:(a) the State authority or officer is authorised to act in accordance
with that arrangement, and
(b) the State authority or officer must not exercise an enforcement
power except in accordance with that arrangement, and
(c) the exercise of, or failure to exercise, an enforcement power by a
State authority or officer is to be taken to have been validly performed or
withheld, despite any failure to comply with any conditions in the
(2) Notice of each arrangement under subsection (1) must be published
in the Government Gazette and in the Commonwealth of Australia Gazette within
21 days after it is made.(3) Such an arrangement may not be entered into without the
concurrence of the Premier.Division 3 93 (Repealed)Division 4 Australian Stock Exchange Limited94 Saving of provisions about Australian Stock Exchange
Limited(1) Section 85 does not apply in relation to Part IIA of the
Securities Industry (New South Wales)
Code.(2) Part IIA has effect, as provided in this section, despite the
national scheme laws of this jurisdiction.(3) A reference in Part IIA to a relevant Code, except in relation to
a time before the commencement of this section, is taken to be a reference to
a national scheme law of this jurisdiction.(4) Subject to subsection (5), a reference in Part IIA to a particular
co-operative scheme law, except in relation to a time before that
commencement, is taken to be a reference to such provisions of the national
scheme laws of this jurisdiction as correspond to provisions of that
law.(5) A reference in Part IIA to a provision of a co-operative scheme
law (other than a provision of Part IIA itself), except in relation to a time
before that commencement, is taken to be a reference to the corresponding
provision of a national scheme law of this
jurisdiction.(6) Regulations in force because of section 90 (6) also have effect
for the purposes of this section.Division 5 Companies Auditors and Liquidators Disciplinary
Board95 Board to continue in existence for certain
purposesThe Companies Auditors and Liquidators Disciplinary Board
established under section 18A of the Companies (Administration) Act 1981
may perform the functions and exercise the powers conferred on it under
Division 2 of Part II of the Companies (New South Wales)
Code in respect of applications made to it under Subdivision B
of that Division before the commencement of this
section.Division 6 Miscellaneous96 References to Corporate Affairs Commission(1) In this section:function includes power,
authority or duty.instrument has the same
meaning as in section 13, but does not include this Act, the regulations under
this Act, the Companies (Administration) Act
1981 or a prescribed instrument or prescribed part of an
instrument.Managing
Director means the Managing Director of Business and Consumer
Affairs.(2) A reference in an instrument to the Corporate Affairs Commission
or the Commissioner for Corporate Affairs is to be taken to be a reference to
the Managing Director or to such officer or body (whether of this State or
not) as is prescribed by regulations under section
80.(3) Subsection (2) extends to a reference required by section 18 of
the Companies (Administration) Act
1981 to be construed as a reference to the Corporate Affairs
Commission.(4) The Managing Director may delegate any of the functions conferred
or imposed on the Managing Director because of this
section.(5) Except in so far as the instrument of delegation otherwise
provides, a person to whom a function has been delegated under subsection (4)
may authorise another person to perform the function so
delegated.(6) Section 80 (5) does not apply to the provisions of regulations
made for the purposes of or in connection with this
section.Division 7 Amending Acts96A Savings and transitional provisions for amending
ActsSchedule 2 has effect.Division 8 Functions of Commonwealth authorities and officers
of the Commonwealth96B DefinitionsIn this Division:function
includes a power.old corporations
legislation has the same meaning as in the Corporations (Ancillary Provisions) Act
2001.perform
includes exercise.96C Functions of Commonwealth authorities and officers of the
CommonwealthIf a Commonwealth authority or an officer of the Commonwealth has
a function expressed to be conferred on the authority or officer by or under
the old corporations legislation, the authority or officer is not under a duty
to perform that function.Part 14 Provisions affecting Corporations Law97 Certain transfers by companies not to constitute reduction
of share capital(1) Where:(a) land is comprised in a strata plan registered under the Strata Schemes (Freehold Development) Act
1973 or in a plan of a prescribed kind under a prescribed Act,
(b) at the time of registration of the plan, the proprietor of that
land was a company,
the transfer by the company of a lot on the strata plan (or of a
prescribed unit or other entity on a plan) in exchange for or in satisfaction
of a right of the kind referred to in section 195 (13) of the Corporations Law, does not of
itself constitute, and is to be taken never to have constituted, a reduction
of the share capital of the company.(2) Subsection (1) does not apply to a transfer made on or after the
commencement of Schedule 1 [7] to the Financial Sector Reform (New South Wales) Act
1999.Part 15 Amendment of Acts98 (Repealed)Schedule 1 (Repealed)Schedule 2 Savings and transitional provisions (amending
Acts)(Section 96A)Part 1 Corporations (New South Wales) Amendment Act
19951 InterpretationIn this Part:Court means the Federal
Court of Australia or the Supreme Court of a State or
amendments means the amendments made by Schedule 1 (1)–(23) to
the Corporations (New South Wales) Amendment Act
commencement means the commencement of the jurisdiction
2 Application of jurisdiction
amendments—generalThe jurisdiction amendments apply to proceedings commenced, or
recommenced, after the jurisdiction commencement, whether the cause of action
arose before or after that commencement.
3 Effect of decision that court did not have
jurisdiction(1) This clause applies if:(a) before the jurisdiction commencement, proceedings in respect of a
civil matter under the Corporations Law of New South
Wales were commenced in a court (the first
court) other than the Court, and
(b) the first court, or another court on appeal from a decision of the
first court, decided before the jurisdiction commencement that the first court
did not have jurisdiction in respect of the matter, and
(c) the decision that the first court did not have jurisdiction still
stands at the jurisdiction commencement, and
(d) the first court would have had jurisdiction in respect of the
matter if the jurisdiction amendments had commenced before the cause of action
(2) The validity of the decision that the first court did not have
jurisdiction is not affected by the jurisdiction
(3) That decision does not affect a recommencement of the proceedings
after the jurisdiction commencement.
4 Effect of absence of decision that court did not have
(b) either:(i) no court expressly decided, before the jurisdiction commencement,
whether the first court had jurisdiction in respect of the matter,
(ii) a decision of the first court, or of another court on appeal from
a decision of the first court, that the first court did have jurisdiction in
respect of the matter still stands at the jurisdiction
(2) For the purposes of any consideration by a court, after the
jurisdiction commencement, of whether the first court had jurisdiction in
respect of the matter, the first court is taken to have had jurisdiction in
respect of the matter if it would have had that jurisdiction if the
jurisdiction amendments had commenced before the cause of action
Part 2 Federal Courts (Consequential
Provisions) Act 20005 Application of section 42AA(1) Section 42AA applies in relation to:(a) a decision made on or after the commencement of that section to
prosecute a person for an offence, even if the conduct alleged to give rise to
the offence occurred before that commencement, or
(b) a related criminal justice process decision made on or after the
commencement of that section in relation to an offence, even if either or both
of the following apply:(i) the conduct alleged to give rise to the offence occurred before
that commencement,
(ii) the prosecution of the offence, or an appeal arising out of the
prosecution, was commenced before that
(2) Section 42AA also applies in relation to:(a) a decision made before the commencement of that section to
prosecute a person for an offence, even if that decision is the subject of an
application that is before a court at that commencement,
(b) a related criminal process decision made before the commencement
of that section in relation to an offence, even if either or both of the
following apply:(i) the decision is the subject of an application that is before a
court at that commencement,
(ii) the prosecution of the offence, or an appeal arising out of that
Am amended LW legislation website Sch Schedule Cl clause No number Schs Schedules Cll clauses p page Sec section Div Division pp pages Secs sections Divs Divisions Reg Regulation Subdiv Subdivision GG Government Gazette Regs Regulations Subdivs Subdivisions Ins inserted Rep repealed Subst substituted Table of amending instrumentsCorporations (New South Wales)
Act 1990 No 83. Assented to 7.12.1990. Date of commencement,
1.1.1991, sec 2 and GG No 180 of 24.12.1990, p 11457. This Act has been
1991No 1Statute Law (Miscellaneous Provisions) Act
1991. Assented to 3.5.1991.Date of commencement of item (1) of the provisions of Sch 2 relating to
the Corporations (New South Wales) Act
1990, assent, sec 2; date of commencement of item (2) of those
provisions, 1.1.1991, Sch 2.
No 52Corporations (New South Wales) Amendment Act
1991. Assented to 11.12.1991.Date of commencement of Sch 1 (1) (a), (2), (12) and (14), 1.1.1991, sec
2 (2); date of commencement of Sch 1 (1) (b) and (c), (3)–(11) and (13),
31.7.1992, sec 2 (3) and GG No 93 of 31.7.1992, p
1995No 20Corporations (New South Wales) Amendment Act
1995. Assented to 19.6.1995.Date of commencement, 16.10.1995, sec 2 and GG No 122 of 6.10.1995, p
South Wales) Act 1999. Assented to 31.5.1999.Date of commencement of Sch 1, 24.11.2000, sec 2 (1) and GG No 152 of
2000No 80Federal Courts (Consequential
Provisions) Act 2000. Assented to 23.11.2000.Date of commencement, assent, sec 2.
2001No 32Corporations (Ancillary
Provisions) Act 2001. Assented to 28.6.2001.Date of commencement, immediately before the Corporations Act 2001 of the Commonwealth,
as originally enacted, comes into operation (ie 15.7.2001), sec 2 and
Sec 3Am 1991, Sch 1 (1); 2000 No 80, Sch 1.4
[1]–[3].Sec 7Am 2001 No 32, Sch 2.2 [1].Sec 8Am 2001 No 32, Sch 2.2 [2]
[3].Sec 12Am 2001 No 32, Sch 2.2 [4]
[5].Sec 15Am 2000 No 80, Sch 1.4 [4].Part 6 (sec 21)Rep 1999 No 1, Sch 1 [3].Sec 30Am 1991 No 52, Sch 1 (2).Sec 31Am 2001 No 32, Sch 2.2 [6].Sec 33Rep 2001 No 32, Sch 2.2 [7].Sec 36AIns 2000 No 80, Sch 1.4 [5].Sec 37Am 2001 No 32, Sch 2.2 [8].Sec 39Rep 2001 No 32, Sch 2.2 [9].Sec 40Am 1995 No 20, Sch 1 (1); 2000 No 80, Sch 1.4
[6].Sec 41Am 1991 No 52, Sch 1 (3); 1995 No 20, Sch 1 (2);
2000 No 80, Sch 1.4 [7]–[9].Sec 42Am 1991 No 52, Sch 1 (4); 2000 No 80, Sch 1.4
[10]–[13].Sec 42AIns 1991 No 52, Sch 1 (5). Am 2000 No 80, Sch 1.4
[14]–[16].Sec 42AAIns 2000 No 80, Sch 1.4 [17].Sec 42BIns 1995 No 20, Sch 1 (3). Am 2000 No 80, Sch 1.4
[18].Sec 43Subst 1991 No 52, Sch 1 (6). Am 1995 No 20, Sch 1
(4); 2000 No 80, Sch 1.4 [19]–[23].Sec 44Am 1991 No 52, Sch 1 (7); 2000 No 80, Sch 1.4
[24]–[26].Sec 44AIns 1991 No 52, Sch 1 (8). Am 1995 No 20, Sch 1 (5)
(6); 2000 No 80, Sch 1.4 [27]–[33].Sec 44AAIns 1995 No 20, Sch 1 (7). Am 2000 No 80, Sch 1.4
[34].Sec 44BIns 1991 No 52, Sch 1 (8). Am 1995 No 20, Sch 1 (8)
(9).Sec 44CIns 1991 No 52, Sch 1 (8). Am 1995 No 20, Sch 1
(10).Sec 44DIns 1991 No 52, Sch 1 (8). Am 1995 No 20, Sch 1
(11).Sec 45Am 1991 No 52, Sch 1 (9); 1995 No 20, Sch 1 (12)
(13); 2000 No 80, Sch 1.4 [35] [36].Sec 46Am 1995 No 20, Sch 1 (14); 2000 No 80, Sch 1.4
[37].Sec 47Am 1995 No 20, Sch 1 (15)
(16).Sec 50Am 1991 No 52, Sch 1 (10); 1995 No 20, Sch 1
(17)–(20); 2000 No 80, Sch 1.4 [38] [39].Sec 51Am 1995 No 20, Sch 1
(21)–(23).Sec 52Rep 2000 No 80, Sch 1.4 [40].Sec 52AIns 1991 No 52, Sch 1 (11). Am 2000 No 80, Sch 1.4
[41].Sec 54Am 2000 No 80, Sch 1.4 [42].Sec 58Am 2001 No 32, Sch 2.2 [10].Sec 59Am 2001 No 32, Sch 2.2 [11]
[12].Sec 60Am 1995 No 20, Sch 1 (24); 1999 No 1, Sch 1 [4]
[5]; 2000 No 80, Sch 1.4 [43] [44].Sec 64Am 2001 No 32, Sch 2.2 [13].Sec 66Am 1991 No 38, Sch 2.Sec 67Rep 2001 No 32, Sch 2.2 [14].Sec 68Am 2001 No 32, Sch 2.2 [15].Sec 69Rep 2001 No 32, Sch 2.2 [16].Sec 74Am 1991 No 52, Sch 1 (12).Sec 75Subst 1995 No 20, Sch 1 (25).Secs 82, 83Rep 1991 No 17, Sch 2.Sec 85Am 1991 No 52, Sch 1 (13); 2001 No 32, Sch 2.2 [17]
[18].Sec 87Am 2001 No 32, Sch 2.2 [19].Sec 90Am 1991 No 52, Sch 1 (14).Sec 91Am 1995 No 20, Sch 1 (26).Part 13, Div 3, headingAm 1991 No 17, Sch 2. Rep 1999 No 1, Sch 1
[6].Part 13, Div 3Rep 1999 No 1, Sch 1 [6].Sec 93Am 1991 No 17, Sch 2. Rep 1999 No 1, Sch 1
[6].Part 13, Div 7 (sec 96A)Ins 1995 No 20, Sch 1 (27).Part 13, Div 8 (secs 96B, 96C)Ins 2001 No 32, Sch 2.2 [20].Sec 97Am 1996 No 139, Sch 2.9 (am 1997 No 55, Sch 1.28
[1]); 1999 No 1, Sch 1 [7].Sec 98Rep 1999 No 85, Sch 4.Sch 1Rep 1999 No 85, Sch 4.Sch 2Ins 1995 No 20, Sch 1 (28). Am 2000 No 80, Sch 1.4
[45]–[47].The whole ActAm 1999 No 1, Sch 1 [1] (“Australian
Securities Commission” omitted wherever occurring, “Australian
Securities and Investments Commission” inserted
instead).The whole ActAm 1999 No 1, Sch 1 [2] (“ASC” omitted
wherever occurring, “ASIC” inserted instead).