Document ID: chunk:federal_register_of_legislation:C2025C00182:section:254:p3
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 254 (pt 3/3)
Character Range: 645784–648033

a provision of the new ASIC legislation.
right includes an interest or status.
substituted right or liability has the meaning given by subsection 276(2) or 277(3).
this Part includes regulations made for the purposes of any of the provisions of this Part.
 (2) Subject to subsection (4), for the purposes of this Part, a provision or part (the old provision or part) of the old ASIC legislation of the Commonwealth, a State or the Northern Territory corresponds to a provision or part (the new provision or part) of the new ASIC legislation (and vice versa) if:
 (a) the old provision or part and the new provision or part are substantially the same, unless the regulations specify that the 2 provisions or parts do not correspond; or
 (b) the regulations specify that the 2 provisions or parts correspond.
Note: The range of provisions of the new ASIC legislation that may be corresponding provisions for the purposes of this Part is affected by sections 277 and 284, which take certain provisions of the old ASIC legislation to be included in the new ASIC legislation.
 (3) For the purposes of paragraph (2)(a), differences of all or any of the following kinds are not sufficient to mean that 2 provisions or parts are not substantially the same:
 (a) differences in the numbering of the provisions or parts;
 (b) differences of a minor technical nature (for example, differences in punctuation, or differences that are attributable to the correction of incorrect cross references);
 (c) the fact that one of the provisions refers to a corresponding previous law, or a relevant previous law, and the other does not;
 (d) other differences that are attributable to the fact that the new ASIC legislation applies as a Commonwealth law throughout Australia;
 (e) other differences of a kind prescribed by the regulations for the purposes of this paragraph.
This subsection is not intended to otherwise limit the circumstances in which 2 provisions or parts are, for the purposes of paragraph (2)(a), substantially the same.
 (4) The regulations may provide that a specified provision of the old ASIC legislation of the Commonwealth, a State or the Northern Territory does, or does not, correspond to a specified provision of the new ASIC legislation.