Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p1
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 1/212)
Character Range: 7467–10163

1990

No. 110 of 1990

An Act to amend the Corporations Act 1989 and related legislation

[Assented to 18 December 1990]

  The Parliament of Australia enacts:

PART 1—PRELIMINARY

Short title

1. This Act may be cited as the Corporations Legislation Amendment Act 1990.

Commencement

2. (1) Parts 1 and 2 of this Act commence on the day on which this Act receives the Royal Assent.

(2) The remaining provisions of this Act commence on a day or days to be fixed by Proclamation.

PART 2—CONVERTING THE CORPORATIONS ACT 1989 INTO
A LAW FOR THE GOVERNMENT OF THE AUSTRALIAN
CAPITAL TERRITORY

Principal Act

  3. In this Part, "Principal Act" means the Corporations Act 19891.

What this Part does

4. (1) This Part changes the Principal Act from an Act relying on the corporations and other powers, and intended to apply of its own force throughout Australia, into a law for the government of the Australian Capital Territory in relation to corporations, securities, the futures industry and some other matters.

(2) Section 6 of this Act inserts in the Principal Act new Parts providing for the Corporations Law set out in new section 82 of the Act to apply as a law for the government of the Territory.

(3) Section 7 of this Act then creates that Corporations Law out of the existing interpretation and substantive provisions of the Principal Act.

(4) The States (including the Northern Territory) can also apply that Corporations Law as their own law, because the amendments made by this Part are designed to render that Law suitable for application as a uniform law in all States and internal Territories.

Title

5. The title of the Principal Act is amended by omitting "enact a national law about" and substituting "make a law for the government of the Australian Capital Territory in relation to".

New Parts providing for the Corporations Law to apply in the Australian Capital Territory

6. After the enacting words of the Principal Act the following Parts are inserted:

"PART 1—PRELIMINARY

Short title

  "1. This Act may be cited as the Corporations Act 1989.

Commencement

"2. (1) Subject to this section, the provisions of this Act commence on a day or days to be fixed by Proclamation.

"(2) This Part commences on the day on which section 6 of the Corporations Legislation Amendment Act 1990 commences.

Object

"3. (1) The object of this Act (other than Part 8) is to make a law for the government of the Australian Capital Territory in relation to corporations, securities, the futures industry and some other matters.

  "(2) This Act has effect, and is to be interpreted, accordingly.

"(3) Despite subsection (1) of this section and subsection 8 (1) of