Document ID: chunk:federal_register_of_legislation:C2007A00108:clause:3_3aa
Version: federal_register_of_legislation:C2007A00108
Segment Type: clause
Provision Reference: sch 3 cl 3AA
Character Range: 8642–10177

3AA  Designated company

Declaration

 (1) The Minister may, by writing, declare that, with effect from a specified time, a specified company is the designated company for the purposes of this Act.

 (2) The specified time must be after the declaration is made.

 (3) At the time the declaration is made, the company must be registered under the Corporations Act 2001.

 (4) The Minister must cause a copy of the declaration to be published on the Internet.

 (5) The declaration is not a legislative instrument.

Revocation of declaration

 (6) The Minister may, by writing, revoke a declaration made under subsection (1), with effect from a specified time.

 (7) The specified time must be after the revocation is made.

 (8) The Minister must cause a copy of the revocation to be published on the Internet.

 (9) The revocation is not a legislative instrument.

 (10) Subsection (6) does not limit the application of subsection 33(3) of the Acts Interpretation Act 1901 to other instruments under this Act.

 (11) If:
 (a) a declaration is in force under subsection (1) in relation to a company; and
 (b) the company ceases to be registered under the Corporations Act 2001;
the declaration is taken to have been revoked at the time of the cessation.

Nominated company B

 (12) Until the first declaration under subsection (1) takes effect, nominated company B is the designated company for the purposes of this Act.

Sunset

 (13) After 30 June 2008, the Minister must not exercise a power conferred by subsection (1) or (6).