Document ID: chunk:federal_register_of_legislation:C2005C00499:clause:1_1445:p1
Version: federal_register_of_legislation:C2005C00499
Segment Type: clause
Provision Reference: sch 1 cl 1445 (pt 1/2)
Character Range: 173630–176398

1445  ASIC determinations may deal with transitional, saving or application matters

 (1) ASIC may, by determination in writing, deal with matters of a transitional, saving or application nature relating to the relevant amendments and the transition from the application of the old legislation to the application of the new legislation. Determinations for this purpose may make such provision as is necessary to take account of the fact that, because of Division 1, different provisions of the amended Corporations Act start applying (and different provisions of the old legislation stop applying) in relation to different people, things and matters at different times.

 (2) A determination:
 (a) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901; and
 (b) overrides any inconsistent regulations made for the purposes of section 1444, other than any such regulations that are expressed to have effect despite anything in a determination under this section (in which case, the determination is of no effect, to the extent of the inconsistency).

 (3) A determination is of no effect to the extent that it is inconsistent with:
 (a) a provision of Division 1; or
 (b) a regulation or determination made under a provision of Division 1, other than any such regulation or determination (the other instrument) that is expressed to have effect subject to anything in a determination under this section (in which case, the other instrument is of no effect, to the extent of the inconsistency).

 (4) Without limiting subsection (1), a determination may provide for a matter to be dealt with, wholly or partly, in any of the following ways:
 (a) by applying (with or without modifications) to the matter:
 (i) provisions of a law of the Commonwealth; or
 (ii) provisions of a repealed or amended law of the Commonwealth, in the form that those provisions took before the repeal or amendment; or
 (iii) a combination of provisions referred to in subparagraphs (i) and (ii);
 (b) by otherwise specifying rules for dealing with the matter;
 (c) by specifying a particular consequence of the matter, or of an outcome of the matter, for the purposes of a law of the Commonwealth.

 (5) Without limiting subsections (1) and (4), a determination may provide for the continued effect after the FSR commencement, for the purposes of the new legislation, of a thing done or instrument made, or a class of things done or instruments made, before the FSR commencement, under or for the purposes of the old legislation. In the case of an instrument, or class of instruments, a determination may (either when providing for the continued effect of the instrument or instruments or at a later time) provide for the instrument or instruments, as