Document ID: chunk:federal_register_of_legislation:C2017A00075:clause:1_5
Version: federal_register_of_legislation:C2017A00075
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 6206–7023

5  At the end of section 276
Add:
 (4) This section does not apply to a pre‑commencement right or liability that:
 (a) existed under a law of the Commonwealth or of a State or Territory; and
 (b) would not have existed if any agreement that is valid only because of section 249 had been a valid agreement without the application of that section.
 (5) Paragraph (1)(b) and subsection (4) have effect in relation to:
 (a) proceedings (whether original or appellate) that begin on or after the day the Treasury Laws Amendment (2017 Measures No. 3) Act 2017 receives the Royal Assent; and
 (b) proceedings that began before that day, if the proceedings (including any appeals) had not been finally determined as at that day.
 (6) Nothing in paragraph (1)(b) or subsection (4) or (5) limits the operation of section 249.