Document ID: chunk:federal_register_of_legislation:C2010C00237:clause:3_10
Version: federal_register_of_legislation:C2010C00237
Segment Type: clause
Provision Reference: sch 3 cl 10
Character Range: 32702–34232

10  CATSI Registrar may re‑classify as large or small corporation

(1) After commencement, the CATSI Registrar may alter a transitional corporation's registration so that the corporation is registered as a large corporation if:
 (a) the CATSI Registrar is satisfied that the corporation is likely to be a large corporation in respect of its first financial year; and
 (b) the CATSI Registrar has not already acted under this item in relation to the corporation.

Note: Subsection 37‑10(3) of the new Act sets out the criteria for determining whether the corporation is a large corporation for a particular financial year.

(2) After commencement, the CATSI Registrar may alter a transitional corporation's registration so that the corporation is registered as a small corporation if:
 (a) the CATSI Registrar is satisfied that the corporation is likely to be a small corporation in respect of its first financial year; and
 (b) the CATSI Registrar has not already acted under this item in relation to the corporation.

Note: Subsection 37‑10(1) of the new Act sets out the criteria for determining whether the corporation is a small corporation for a particular financial year.

(3) An alteration to a transitional corporation's registration made under subitem (1) or (2) is not a legislative instrument.

(4) The CATSI Registrar must notify a transitional corporation in writing of an alteration made under subitem (1) or (2).

(5) To avoid doubt, section 4 of the Acts Interpretation Act 1901 applies in relation to this item.