Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p11
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 11/212)
Character Range: 32669–35361

The regulations may provide that, subject to any prescribed terms and conditions, Chapter 7 or 8, or specified provisions of Chapter 7 or 8, of the Law:

     (a) do not have effect in relation to a specified person or class of persons; or

     (b) have effect in relation to a specified person or class of persons to such extent only as is prescribed; or

     (c) do not have effect in relation to a specified transaction or class of transactions; or

     (d) do not have effect in relation to a specified transaction or class of transactions entered into by a specified person or class of persons;

and may provide that a contravention of a prescribed term or condition is an offence against the regulations.

Penalty notices

  "31. (1) The regulations:

     (a) may prescribe offences against the Law (not being offences the penalties applicable to which include a term of imprisonment or a pecuniary penalty that exceeds $1,000), or offences against the regulations, for the purposes of section 1313 of the Law; and

     (b) must, in relation to each offence that is prescribed under this subsection:

       (i) prescribe the particulars of that offence that are to be

         given in a notice served on a person under that section in relation to the offence; and

         (ii) prescribe the amount of the penalty (being not more than half the amount of the penalty applicable to the offence) that is payable in respect of the offence under a notice served on a person under that section in relation to the offence.

"(2) In subsection (1), a reference to a penalty applicable to an offence is a reference to the penalty that is applicable to that offence because of any of the provisions of section 1311 of the Law.

"(3) The particulars of an offence required to be prescribed by subparagraph (1) (b) (i) may be prescribed by being set out in the form prescribed for the purposes of section 1313 of the Law in relation to the offence.

"PART 6—ACCOUNTING STANDARDS

Accounting standards

"32. (1) The Australian Accounting Standards Board may make for the purposes of Parts 3.6 and 3.7 of the Corporations Law of the Capital Territory a written accounting standard that is not inconsistent with that Law or the Corporations Regulations of that Territory.

"(2) An instrument made under subsection (1) is a disallowable instrument for the purposes of section 46a of the Acts Interpretation Act 1901.

"(3) In considering whether or not to make a particular instrument under subsection (1), the Board must have regard to:

     (a) the effect the instrument would have for the purposes of Parts 3.6 and 3.7 of the Corporations Law of each jurisdiction other than the Capital