Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p3
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 3/17)
Character Range: 497792–500652

in the course of:

       (a)     the development of possible accounting standards; and

       (b)     the review of proposed accounting standards.";

  (b) by inserting in subsection (5) the following definition:

     " 'New Zealand authority' means the person or authority that in New Zealand has functions that are analogous to the functions of the Standards Board.".

Liability for damages

  181. Section 246 of the Principal Act is amended:

  (a) by inserting before paragraph (a) the following paragraph:

       "(aa) the Minister;";

  (b) by adding at the end the following subsection:

     "(2) The protection from liability given by subsection (1) to the Minister applies only in respect of acts done, and omissions occurring, after the commencement of section 181 of the Corporate Law Reform Act 1992".

PART 7—COMMENCEMENT AND APPLICATION OF CHANGES TO THE CORPORATIONS LAW RESULTING FROM THIS ACT

Effect of this Part

182. Section 6 of the Corporations Law is amended by adding at the end the following subsection:

"(4) Where, because of Part 9.11, provisions of this Law, as in force at a particular time, continue to apply:

  (a)     in relation to someone or something; or

  (b)     for particular purposes;

then, for the purposes of those provisions as so applying:

  (c)     this Part as in force at that time continues to have effect; and

  (d)     this Part as in force at a later time does not have effect.

General penalty provisions

183. Section 1311 of the Corporations Law is amended by inserting after subsection (3) the following subsection:

"(3A) Where, because of Part 9.11, provisions of this Law, as in force at a particular time, continue to apply:

  (a)      in relation to someone or something; or

  (b)     for particular purposes;

then, for the purposes of those provisions as so applying:

  (c)      Schedule 3 as in force at that time continues to have effect; and

(d)     Schedule 3 as in force at a later time does not have effect; except so far as the contrary intention appears in this Law.".

Changes to section 597

  184. Section 1370 of the Corporations Law is amended:

    (a)     by inserting in subsection (1) "and before the commencement of section 117 of the Corporate Law Reform Act 1992" after "1992";

    (b)    by omitting from subsection (1) "that" (twice occurring) and substituting "the first-mentioned".

185. At the end of Part 9.11 of the Corporations Law the following Division is added:

                 "Division 5—Changes resulting from the Corporate Law Reform Act 1992

Commencement of subsection 6(4)

"1372. Subsection 6(4) is taken to have commenced on 27 June 1991.

Application of changes to section 187

"1373.(1) Subsections 187(3), (4) and (4A), as in force after the commencement of section 176 of the Corporate Law Reform Act 1992, apply in relation to an