Document ID: chunk:federal_register_of_legislation:C2010C00237:clause:3_15
Version: federal_register_of_legislation:C2010C00237
Segment Type: clause
Provision Reference: sch 3 cl 15
Character Range: 37673–38475

15  Effect of registering the Rules as constitution

(1) Subitem 14(1) does not have the effect of bringing the transitional corporation's constitution into existence as a contract. Rather, it has the effect of continuing the existence of the contract previously constituted by the corporation's Rules as in force immediately before commencement under subsection 47(2) of the old Act.

(2) To avoid doubt, things done before commencement under or in relation to a provision of the transitional corporation's Rules are taken to have been done under or in relation to the corresponding provision of the corporation's constitution.

Example: A person who is the Chair of the Governing Committee of a transitional corporation immediately before commencement will continue to be the Chair at commencement.