Document ID: chunk:federal_register_of_legislation:C2017A00075:clause:1_6
Version: federal_register_of_legislation:C2017A00075
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 7023–7659

6  Paragraphs 277(1)(a) and (b)
Repeal the paragraphs, substitute:
 (a) was:
 (i) acquired, accrued or incurred under a provision of the old ASIC legislation of the Commonwealth, a State in this jurisdiction or the Northern Territory that was no longer in force immediately before the commencement; and
 (ii) in existence immediately before the commencement; or
 (b) would have been:
 (i) acquired, accrued or incurred under such a provision; and
 (ii) in existence immediately before the commencement;
  if every agreement that was valid only because of section 249 had been a valid agreement without the application of that section.