Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p196
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 196/212)
Character Range: 509079–511886

8
  Part 9
  Division 1 of Part 10
  Division 1 of Part 11
  Part 12
  Part 14
  Sections 251 and 252;

'prescribed' means prescribed by this Act or the regulations;

SCHEDULE 7—continued

'regulations' means the ASC Regulations of this jurisdiction;

'Standards Board' means the Australian Accounting Standards Board established by section 224;

'this Law' includes the regulations;".

Subsection 5 (2):

Omit "Corporations Act 1989", substitute "Corporations Law of the Capital Territory".

Subsection 5 (3):

  Omit the subsection, substitute:

"(3) Except so far as the contrary intention appears in this Act, Parts 1.2 and 1.3 (except section 8) of the Corporations Law apply for the purposes of this Act as if the provisions of this Act were provisions of that Law.

"(4) This Part, and Parts 1.2 and 1.3 of the Corporations Law as applying because of subsection (3) of this section, have effect to the exclusion of the Acts Interpretation Act 1901.

"(5) Subject to subsection (4), the Acts Interpretation Act 1901 as amended and in force at the commencement of this subsection applies, and that Act as amended and in force at any later time does not apply, in relation to this Act (other than the non-applied provisions).".

After section 6:

  Insert in Part 1:

Acting appointments

"6a. Where a provision of the ASC Law of this jurisdiction (other than subsection 109zb (8) of the Corporations Law as it applies because of subsection 5 (3) of the ASC Law) confers on a person or body (in this section called the 'appointer') a power to appoint a person (in this section called the 'appointee') to act in a particular office, then, except so far as the ASC Law otherwise provides, the following paragraphs apply in relation to an appointment made under the provision:

     (a) the appointment may be expressed to have effect only in the circumstances specified in the instrument of appointment;

  (b) the appointer may:

         (i) determine the terms and conditions of the appointment, including remuneration and allowances; and

      (ii) terminate the appointment at any time;

     (c) where the appointee is acting in an office other than a vacant office and the office becomes vacant while the appointee is acting, then, subject to paragraph (a), the appointee may continue so to act until:

SCHEDULE 7—continued

       (i) the appointer otherwise directs; or

       (ii) the vacancy is filled; or

      (iii) a period of 12 months from the day of the vacancy ends;

     whichever happens first;

     (d) the appointment ceases to have effect if the appointee resigns in writing delivered to the appointer;

   (e) while the appointee is acting in the office:

         (i) the appointee has and may exercise all the powers, and shall perform all the functions and duties, of the